Illinois Homeowners Insurance

Illinois homeowners insurance is less than the national average at $52 per month, but your rates can vary based on the age of your home and the level of coverage you need. A standard Illinois home insurance policy only covers the dwelling, other structures, personal belongings, and loss of use costs under certain circumstances. Instances like earthquakes and flooding aren’t typically covered. Read our Illinois homeowners insurance guide below to learn more.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: Jul 16, 2021

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The average cost of Illinois homeowners insurance is $628/yr ($52/mo). This is somewhat less than the national average of $66 per month.

Check your policy carefully to make sure you are included for all necessary perils, including terrorism and war. Read through the list of policy parts below to find out how your insurance works, and make sure that you have sufficient coverage for all of the perils your home is at risk of:

  1. Dwelling
    The dwelling portion of your insurance policy covers the home in which you live. Only structures that are permanently attached to the primary housing unit are part of the dwelling. All other structures on the insured property are called “other structures” for the purposes of insurance.
  2. Other Structures
    Structures classified as “other” include any building or construction on the insured property that is not permanently attached to the home. A utility shed, for instance, is an “other” structure, and so are a privacy fence and a guest cottage. As you add new structures to the property, be sure to have them added to your insurance as well.
  3. Personal Property
    Anything that you own is your personal property. This includes lawn equipment, jewelry, clothing, interior decorations, appliances and electronics. Keep in mind that your home insurance will only cover personal property up to an amount specified in your policy, and it may be necessary to purchase additional coverage for full protection.
  4. Loss of Use
    When you cannot use part or all of your dwelling, you can file the receipts of the expenses you incur to maintain your standard of living elsewhere as a loss of use claim. This might include meals, lodging, or support services such as laundry facilities. If in doubt, save the receipts and call your insurance agent to make sure you have a valid claim.

Average Illinois Homeowner Insurance Rates vs. US

Source: USCB

Cheaper Illinois Home Insurance

Your average home insurance premium will usually be different than the state average of $628. For one thing, your home is not going to have the same square footage as the average home, and for another your own risk assessment will affect the final costs.

  • Avoid Unnecessary Claims
    Insurance claims stay with you for several years, and the more of them you file, the higher your insurance premiums are likely to be. If the repairs you need on your home are only a little more than the deductible, it is probably in your best interest to go ahead and pay the full price out of pocket than to risk getting higher rates because of one too many insurance claims.
  • Smoke and Home Insurance
    Most insurance companies agree that quitting smoking can greatly increase your expected life span, but they also agree that quitting smoking can save you money on home insurance. You see, cigarettes are one of the top causes of house fires, so when you give up smoking you are essentially lowering the risk of your house catching fire, and that is a savings that will be passed on to you.
  • Credit Score and Insurance Risk
    your credit score influences how much risk you pose for the insurance company. It may sound like a strange thing to say, but statistics have shown that there is a proportionate relationship between your credit score and your level of financial responsibility.

Home Characteristics Affecting Illinois Insurance Rates

One of the problems faced by homes in Illinois is the fact that the average age of a house is 44 years. What this means is that any repairs that have to be made will either be made using modern materials or your coverage will fall short on making the repairs. To remedy this, make sure that your policy specifically states that it will pay replacements costs, not actual cash value.

Defending Your Home Against Crime & Vandalism

In Illinois, the crime rate is 5.88 per 1000 people, only slightly higher than the average burglary rate nationwide. To reduce the risks, install a fence around the property, pout deadbolt locks in your entry doors, and have a professionally monitored alarm system installed. All three of these changes will also net you a discount on your home insurance premiums.

Local Natural Disasters Illinois Homeowners Should Consider Protecting Against

Flooding is probably the most common peril faced by homes in Illinois, but the state is also afflicted with tornadoes on occasion. Review the perils below to find out which ones you should be aware of, and whether your standard insurance policy covers them.

  • Earthquakes
    Ranked at 18 out of 51, placing it near the middle of the list of earthquake-prone states. The fact is that earthquakes are very rare in Illinois, but you would be well-advised to make sure you have any coverage you need, just in case.
  • Flood
    Illinois residents filed 2,058 claims in 2009, and flooding continues to be the single worst peril faced by the state. Whether your home is situated on high ground or down in the dips, make sure that you have flood insurance. You may not be able to purchase flood insurance through traditional markets, but you can get it by contacting your state Department of Insurance.
  • Hail
    Hail is not generally thought of as a peril in its own right. Instead, hail damage is covered under wind damages in your homeowner’s policy. This could be tricky, though, because you need to make sure that hail is not specifically excluded from coverage.
  • Hurricanes
    Illinois does not experience hurricanes, but they are subject to wintry storms that carry the same high-force winds and have the potential to dump inches of rain or feet of snow. You do not need to pick up hurricane coverage, but you will need flood insurance and to make sure that wind damage is not excluded from your policy.
  • Tornadoes
    Illinois experiences approximately 69 tornadoes every year. Tornadoes are not a major danger, but you would be well-advised to pick up any extra coverage you feel is deserved. Remember though, most wind damages are already covered under your standard policy and duplicating coverage may cause you problems if you ever have to file a claim.
  • Wildfires
    Illinois experiences a portion of the 74,749 wildfires which break out in our country every year. Fires are included in your standard home insurance policy, but it is important that you make sure wildfires have not been excluded. This does not usually happen, but you would not want to wait until your home is surrounded by fire to discover that you needed additional coverage.

Illinois Homeowners Insurance Optional Coverage

The two things that many people overlook but which could mean the difference between a successful claim and a big disappointment are your personal property limits and whether your policy will pay actual cash value instead of replacement value. Replacement value will repair or replace items regardless of the difference in cost between when the item was new and now. Personal property limits indicate the value of your personal effects that will be covered in the event of a total loss. It is not at all unusual for a homeowner to hold a separate policy just for their personal possessions.

Important Contact Information

Illinois Department of Insurance
320 W. Washington Street
Springfield, IL 62767-0001
Phone: (217) 782-4515
Website

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