Best & Cheapest Renters Insurance In Illinois For 2025

Nearly 32% of households in Illinois are renters. This means 32% of people need to find the best and cheapest renters insurance. While the average cost of renters insurance in Illinois is approximately $312 per year, or about $26 per month, there are several factors that can influence what you pay. The two biggest have to do with location: whether your home is in an area with higher crime rates and whether you are in an area prone to natural disasters like tornadoes.

Having had over 15 years of experience as a licensed property and casualty agent, I’ve helped many clients find the right renters insurance to suit their needs and budget. This deep industry knowledge allows me to provide insights that save you time and money while making sure you have the right coverage.

Cheapest Renters Insurance Companies In Illinois

AAA and Lemonade are the cheapest renters insurance companies in Illinois. AAA costs an average of $7 per month, while Lemonade costs around $10.

Best Renters Insurance Companies In Illinois 2025

Auto-Owners is the best renters insurance company in Illinois, with average monthly premiums of $20.

Use the table below to view the best renters insurance companies in Illinois, and their average rates.

How Much Is Renters Insurance In Illinois?

The average cost of renters insurance in Illinois is typically around $26 per month, or about $312 annually. However, the exact cost can vary significantly depending on several factors. These include the location of the rental property, the value of your personal belongings, the coverage limits, and any additional coverage options you may choose.

Average Illinois Renters Insurance Costs – By City

Where you live in Illinois can have a significant impact on the cost of renters insurance.

Here’s a table showing the average cost of renters insurance in 10 major cities in Illinois:

What Factors Affect The Price Of Renters Insurance In Illinois?

Several factors influence the cost of renters insurance in Illinois. Understanding these can help you manage your premium:

• Location: Areas prone to severe storms, along rivers or streams known for flooding, or in “Tornado Alley” often have higher premiums.
• Crime Rates: Chicago, Chicago Heights, and East St. Louis have some of the highest crime rates, which means a higher risk of vandalism or theft. This can lead to higher premiums.
• Value of Personal Belongings: The more valuable your possessions, the higher your coverage limits and premiums.
• Deductible: A higher deductible can lower your monthly premium but increase out-of-pocket costs.
• Claim History: A history of claims may increase your rates.
• Rental Property Type: Apartments may cost less to insure than houses.
• Safety Features: Smoke detectors, security systems, and deadbolts may lower premiums.

Is Renters Insurance Required In Illinois?

In Illinois, renters insurance is not legally required by the state, but many landlords or property management companies may require tenants to have a policy in place. While the law does not mandate renters insurance, landlords often include this requirement in the lease agreement as a way to protect both the tenant and the property owner.

For tenants, having renters insurance is a wise decision, even if it’s not required by law. It helps safeguard personal property, which may be costly to replace out-of-pocket. Furthermore, renters insurance may provide coverage for temporary living expenses if the rental unit becomes uninhabitable due to a covered event.

While not mandatory, renters insurance can provide peace of mind and financial protection. It’s important to review the lease agreement and check with the landlord to see if it’s a requirement, as failure to comply could result in penalties or lease termination.

Common Renters Insurance Discounts In Illinois

Renters insurance providers in Illinois offer various discounts that can reduce your premiums:

• Bundling Policies: Combining auto and renters insurance with the same company can lead to savings.
• Security Features: Installing security systems or smoke alarms can result in discounts.
• Claim-Free Discounts: If you haven’t filed claims in several years, you may qualify for lower rates.
• Property Age: Newer, well-maintained homes may qualify for discounts.
• Loyalty Discounts: Long-term customers may receive reduced rates over time.

Common Renters Insurance Claims In Illinois

The most common renters insurance claims in Illinois include damage from natural disasters, particularly hail and wind damage from severe storms and tornadoes. In major cities, the most common claims include vandalism and theft as well as water damage from things like broken pipes.

In heavily populated regions some claims extend to fire damage from fire started within a home or in an adjoining home, more commonly reported in apartments and condominiums. Other claims extend to flood damage from natural disasters.

Does Renters Insurance In Illinois Cover Severe Storms?

The Illinois Emergency Management Agency reports frequent, severe storms including thunderstorms, with wind and hail damage.

Renters insurance in Illinois will typically cover wind and hail damage, or lightning strikes if they are listed as covered events on your policy. However, flooding is a secondary risk of severe storms that are not covered.

Does Renters Insurance In Illinois Cover Tornadoes?

Yes, renters insurance generally covers tornado damage in Illinois. Tornadoes are typically considered wind-related incidents, and most renters insurance policies include coverage for damage caused by windstorms. If a tornado damages personal property or the rental unit itself, renters insurance will typically cover repair or replacement costs.

However, it’s important to review your policy to ensure that the specific coverage for wind and tornado damage is included. Additional coverage may be needed for high-value items, depending on the policy.

Does Renters Insurance In Illinois Cover Fire?

Yes, renters insurance in Illinois covers fire damage to personal property and the rental unit itself. If a fire destroys belongings or causes damage to the apartment or house you’re renting, your renters insurance policy will typically cover the cost of repairs or replacement. This includes damage from smoke, heat, and soot.

Renters insurance also provides liability coverage if the fire spreads and causes damage to neighboring units. It’s important to keep an updated inventory of belongings to ensure adequate coverage.

Does Renters Insurance In Illinois Cover Flooding?

Renters insurance in Illinois does not cover flooding caused by heavy rains, storm surges, or rising water. Flooding is considered a separate peril, and standard renters policies exclude this type of damage. To protect against flooding, renters in Illinois must purchase separate flood insurance through the National Flood Insurance Program (NFIP) or private insurers.

Flood insurance will cover damage to personal property and the structure of the rental unit caused by rising water, ensuring comprehensive coverage in flood-prone areas.

Does Renters Insurance In Illinois Cover Wind Damage?

Yes, renters insurance in Illinois generally covers wind damage caused by events such as windstorms, tornadoes, and hail. Wind-related damage to personal belongings, such as furniture, electronics, and clothing, is usually covered under a standard renters policy.

It’s important to review your policy to confirm that wind damage is included and to consider additional coverage if necessary for extreme weather events.

What Does Renters Insurance Cover In Illinois?

Renters insurance provides essential protection for your belongings and liability, offering financial security in the event of unexpected incidents. Understanding what is covered under a renters insurance policy helps you make informed decisions about your coverage needs. Below, we break down the key components of renters insurance coverage.

Personal Property Coverage

Renters insurance typically covers personal belongings, such as furniture, clothing, electronics, and appliances, in the event of theft, fire, vandalism, or other covered disasters. It helps you replace or repair your possessions up to the policy’s coverage limit.

Liability Coverage

Liability protection is an essential part of renters insurance. It covers legal expenses and medical costs if someone is injured while on your property. For example, if a guest slips and falls in your home, liability coverage can help pay for their medical bills and any legal fees if you are sued.

Additional Living Expenses

If your rental becomes uninhabitable due to a covered incident, such as a fire or storm, renters insurance can cover additional living expenses. This includes the cost of temporary housing, meals, and other expenses while your home is being repaired or replaced.

Flood Insurance

If you rent in an area along the Mississippi, Ohio, or Wabash rivers, or are in a flood-risk area, it is best to invest in separate flood insurance. Floods are a significant risk in Illinois, as are floods related to severe storms but flood damage from any natural disaster is not covered by regular policies.

Medical Payments To Others

This coverage provides small, no-fault medical payments if someone is injured on your property, regardless of who is at fault. It helps cover minor medical expenses without the need for a lawsuit or liability claim.

Loss Of Use Coverage

If you cannot use your rental due to a covered event, loss of use coverage can help with extra costs such as hotel stays and transportation.

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