How much is homeowners insurance in Illinois?
The average cost of homeowners insurance in Illinois is $143 per month or $1,720 per year for $300,000 in dwelling coverage (which protects your actual house) according to 2022 Quadrant data. This is about 2% lower than the national average of $1,754 per year.
However, our latest analysis of internal policyholder data shows home insurance premiums in Illinois have increased 24% from May 2022 to May 2023.
This is due to a mix of sustained inflation, labor shortages, rising construction costs, and severe natural disasters that have caused insurance companies in Illinois to increase rates and establish stricter underwriting rules to offset the risks.
In fact, Allstate hiked home insurance rates by 12.7% in February 2024, while State Farm planned to raise rates by 12.3% in May according to separate state filing by both companies, as reported by the Chicago Tribune. [1]
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
Illinois home insurance rates by city
We found that the large city with the cheapest homeowners insurance in Illinois is Champaign, followed by Elgin and Rockford. The cost of homeowners insurance in Champaign is 15% cheaper than the statewide average.
City | Average monthly cost | Average annual cost | Difference from state average (%) |
|---|---|---|---|
Chicago | $178 | $2,130 | 24% |
Aurora | $133 | $1,593 | -7% |
Joliet | $130 | $1,555 | -10% |
Naperville | $134 | $1,606 | -7% |
Rockford | $128 | $1,536 | -11% |
Springfield | $132 | $1,585 | -8% |
Elgin | $122 | $1,468 | -15% |
Peoria | $131 | $1,570 | -9% |
Champaign | $121 | $1,457 | -15% |
Waukegan | $135 | $1,624 | -6% |
Cicero | $138 | $1,651 | -4% |
Bloomington | $123 | $1,474 | -14% |
Schaumburg | $142 | $1,702 | -1% |
Evanston | $143 | $1,710 | -1% |
Arlington Heights | $143 | $1,711 | -1% |
Bolingbrook | $124 | $1,492 | -13% |
Decatur | $132 | $1,583 | -8% |
Skokie | $148 | $1,777 | 3% |
Palatine | $136 | $1,631 | -5% |
Des Plaines | $130 | $1,561 | -9% |
Illinois home insurance rates by coverage amount
One of the most important (and expensive) parts of your home insurance policy is your dwelling coverage, since it protects the physical structure of your home from covered hazards like wind and hail.
The amount of dwelling coverage you need depends on the replacement cost of your home — not its market value. So if you paid $600,000 for a home that would really only cost $400,000 to rebuild, you’d only need $400,000 in dwelling coverage.
The higher your dwelling coverage limit, the more you’ll pay for home insurance. As you can see from the table below, the $461 per year difference between the cost of $400,000 and $500,000 in dwelling coverage is the largest rate jump in Illinois.
Dwelling coverage limit | Average annual cost |
|---|---|
$100,000 | $909 |
$200,000 | $1,317 |
$300,000 | $1,720 |
$400,000 | $2,111 |
$500,000 | $2,572 |
