Allstate is the cheapest home insurance company in Illinois, with rates as low as $1,059 per year — $700 cheaper than the state average of $1,720 per year. Another plus? This insurer also made our list of the best home insurance companies in Illinois.
Cheapest homeowners insurance companies
Based on our analysis, Allstate, Auto-Owners, and Hippo are the three cheapest home insurance companies in Illinois, with statewide average premiums ranging from $1,059 to $1,89 per year. USAA and Erie are also among the most affordable home insurance carrier options for Illinois residents in 2024, as detailed in the table below.
Company | Average annual cost |
|---|---|
$1,059 | |
$1,103 | |
$1,189 | |
$1,391 | |
$1,395 | |
$1,561 | |
$1,565 | |
$1,590 | |
$1,825 | |
$2,025 | |
$2,131 | |
$2,134 | |
$2,369 | |
$2,558 | |
$4,897 |
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.
Learn more >> Our complete guide to home insurance in Illinois
Cheapest home insurance rates with a history of claims
Filing multiple claims can impact your homeowners insurance rates. You'll typically pay more for home insurance if you have multiple claims on your record, since insurers perceive you as posing a greater risk of filing more.
Here's the cheapest home insurance companies in Illinois for a homeowner with three claims within a five-year period.
Company | Average annual cost |
|---|---|
Auto-Owners Insurance | $1,174 |
USAA | $1,653 |
State Farm | $1,781 |
Allstate | $1,800 |
Farmers | $2,029 |
Erie | $2,329 |
Progressive | $2,761 |
American Family | $3,265 |
Chubb | $3,725 |
Hippo | $3,777 |
Country Financial | $4,803 |
Nationwide | $4,828 |
AAA | $5,464 |
Foremost | $6,228 |
Travelers | $7,137 |
Cheapest home insurance rates if you have poor credit
Illinois allows insurance companies to use your credit score to help set your rates. Homeowners with lower credit scores should expect to pay higher rates for their homeowners insurance, since insurers consider you more likely to file a claim.
With an average rate of $1,559 per year, Hippo has the cheapest home insurance rates in Illinois for a homeowner with poor credit, while Auto-Owners’ average yearly premium of $10,160 is the highest.
Company | Average annual cost |
|---|---|
Hippo | $1,559 |
Allstate | $1,666 |
USAA | $1,752 |
Nationwide | $2,316 |
State Farm | $2,672 |
State Farm | $2,672 |
Progressive | $2,738 |
American Family | $2,826 |
AAA | $3,101 |
Foremost | $3,262 |
Country Financial | $3,524 |
Farmers | $3,528 |
Erie | $4,275 |
Chubb | $4,903 |
Auto-Owners Insurance | $10,160 |
Cheapest home insurance rates if you have an older home
The median age of homes in Illinois is 51 years old, according to an analysis of U.S. census data by House Method. And like everything else, the age of your home plays a role in how much you pay for home insurance in Illinois.
Older and historic homes are usually more expensive to insure than newer homes. This is because insurers consider them a higher risk than newer homes since they can be fragile, their construction materials may be obsolete, and certain structural components like the plumbing or roof may not be in good shape or up to current-day code. Because of this, they'll charge higher premiums to offset the risk.
Here's the cheapest home insurance in Illinois for a 50-year-old home:
Company | Average annual cost |
|---|---|
Allstate | $1,048 |
Auto-Owners Insurance | $1,183 |
USAA | $1,300 |
Farmers | $1,552 |
Erie | $1,559 |
State Farm | $1,562 |
Nationwide | $1,652 |
Chubb | $1,925 |
Hippo | $2,084 |
Foremost | $2,106 |
American Family | $2,115 |
AAA | $2,133 |
Progressive | $2,221 |
Country Financial | $2,685 |
Travelers | $6,673 |
How to lower the cost of home insurance
You can lower the cost of homeowners insurance in Illinois by taking advantage of discounts offered through your home insurance company. This might mean bundling your home and auto policies together for discounts off your premiums, or adding security systems to your home.
Another way to lower your homeowners insurance rates is by shopping around for home insurance in Illinois and opting for a higher deductible. Just keep in mind a higher deductible means you’ll have to pay more money out of pocket when you file a claim.
Common home insurance discounts
Many insurance companies offer discounts for bundling home and auto insurance, paying your premium up front, not filing claims, and more. These are just some of the discounts that can add up to big savings on your policy:
Bundling discount
Claims-free discount
Affiliation discount
Protective devices discount
New construction discount
Learn more >> 13 homeowners insurance discounts
