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Illinois Home Insurance: Costs, Coverage and How to Save
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Illinois is one of the most storm-affected states in the country, according to NOAA. From tornado outbreaks tearing through central Illinois to flash flooding in Chicago and its suburbs, the Prairie State sees plenty of weather that can put your home at risk, making finding the right home insurance coverage important for peace of mind.
Bundling your home and car insurance is simple with Jerry. It’s free to compare quotes and we’ll help you switch insurers once you’re ready, all online. Plus, our licensed agents are just a call away if you’d rather talk to a real person.
Based on cheapest quotes shown for all Jerry customers in the last 12 months. Savings depend on coverage and other factors. Potential savings will vary.
Bundle home + car and save up to 40%.
What Illinois homeowners pay right now
Home insurance costs in Illinois depend on your home’s age and rebuild cost, your claims history and other factors, like your property’s exposure to severe storms, hail and flooding in your area.
Based on home insurance quotes for Jerry customers in the last 12 months. Savings depend on coverage and other factors. Potential savings will vary.
Jerry can help you find competitive prices and strong coverage whether you’re in the Chicago metro, the suburbs of Joliet and Elgin, or downstate in Springfield or Champaign. Take a look at some recent examples below of real customers who saved by bundling their home insurance with Jerry:
Recent bundling quotes
Based on Jerry customers who found savings in the past 45 days. Savings depend on coverage and other factors. Potential savings will vary.
Key takeaway: Home insurance rates in Illinois depend on factors like your home’s age, rebuild costs and local storm risks, but shopping around can help you save.
Mix and match home and car insurance with Jerry
Bundling discounts typically range from 5%-25%, depending on the insurer. But bundling your car insurance with the same carrier isn’t always the cheapest option overall. Sometimes exploring different carrier combinations can cost less. Over the past year, drivers who switched through Jerry saved an average of 40% compared to their previous policy.
Here’s what makes Jerry different: You don’t have to use the same insurer for both.
Jerry’s mix-and-match approach lets you pair the best home insurance rate with the best auto insurance rate, even from different carriers. That way, you’re not stuck overpaying on one policy just to get a bundle discount on the other.
Mix and match with Jerry to build your perfect bundle.
Best home insurance in Illinois
There’s no single “best” home insurance company in Illinois. It depends on your home, your budget and what kind of coverage you need. For example, homeowners in Chicago’s older neighborhoods may need coverage that accounts for aging infrastructure and basement flooding risk, while those in the collar counties or downstate may prioritize hail and tornado protection.
That said, our data shows some clear trends among Illinois homeowners. Here are the most popular home insurance companies Jerry customers pick:
Based on home insurance quotes for Jerry customers in the last 12 months. Savings depend on coverage and other factors. Potential savings will vary.
Why the variety? Illinois homeowners prioritize different things. Some want the lowest premium, many care most about how claims are handled, and others look for strong digital tools or a local agent they can talk to.
Also check: The best car insurance in Illinois
Jerry recommends: The easiest way to find the right coverage is to compare home insurance quotes in the Jerry app. We find competitive quotes from top carriers in minutes, so you can find the best coverage at the right price.
Factors that affect home insurance costs in Illinois
From tornado season to Chicago’s urban flooding challenges, where you live and what you own in Illinois plays a big role in what you pay. Here’s what stands out most and how to stay protected.
🌪️ Severe storms, tornadoes and hail
Illinois sits in the heart of the Midwest storm belt, and tornadoes, damaging hail and straight-line winds are a regular threat from spring through fall. Hail and wind are the leading causes of home insurance claims across the state, often damaging roofs, siding, windows and cars.
💧 Flooding and basement water damage
Flooding is a persistent problem in Illinois. The Chicago metro area is especially vulnerable to flash flooding and basement water damage from overwhelmed storm sewers. In 2023, severe flooding in Cook County triggered over $426 million in federal disaster recovery funds, according to NOAA. Standard home insurance does not cover flood damage, so homeowners near rivers, in low-lying areas or in flood-prone urban neighborhoods should strongly consider a separate flood policy.
❄️ Winter storms and extreme cold
Illinois’ heavy snowfall, ice storms and extreme cold snaps can cause frozen pipes, ice dams, roof damage and heating system failures. Northern Illinois and communities near Lake Michigan also deal with lake-effect snow, which can add extra accumulation to already significant winter storms.
🏚️ Aging housing stock
Many Illinois homes, particularly in Chicago, Rockford and older suburban communities, were built in the early-to-mid 1900s. Homes with outdated electrical wiring, aging plumbing, older roofs and original heating systems can be more expensive to insure. Insurers may charge higher premiums or limit coverage options for homes with systems that haven’t been updated in decades.
💰 Rebuild costs and construction expenses
Illinois, particularly the Chicago metro area, has seen rising construction material and labor costs in recent years. Your dwelling coverage is based on your home’s rebuild cost, not its market value, and those costs have climbed significantly. Making sure your coverage reflects current rebuild estimates helps you avoid being underinsured if you ever need to file a claim.
Key takeaway: Illinois’ severe storm exposure, flood risk, cold winters and rising rebuild costs all factor into your rate. Understanding what drives your premium helps you find the right coverage.
Get bundling quotes in minutes, no calls needed.
Get the right coverage without overpaying
For Illinois homeowners, the right mix of coverage can save money over time while keeping you protected when it counts.
Dwelling coverage is the foundation of your home insurance policy. It pays to repair or rebuild your home’s structure if it’s damaged by things like fire, wind, hail, lightning or vandalism.
Your dwelling coverage amount is based on your home’s rebuild cost – not its market value – as calculated by your insurer. Jerry can estimate your replacement cost right in the app, so you’ll know you’re covered for the right amount.
Here’s what Illinois homeowners typically pay based on their home’s rebuild value:
$150-299k
dwelling coverage
Typical for smaller homes, condos or older properties.
$300-499k
dwelling coverage
Covers most mid-range homes.
$500-749k
dwelling coverage
Typical for larger or newer homes.
$750k-1M
dwelling coverage
Common for high-value properties.
Key takeaway: Your dwelling coverage should match your home’s rebuild cost, not its market value. Jerry shows you real-time pricing at every level so you can find the right balance.
Learn more: What does home insurance cover?
4 ways to save on home insurance
Bundling your home policy with the cheapest car insurance in Illinois is one of the most effective ways to lower your premium, but it’s not the only one. Illinois homeowners have several options to reduce costs without cutting coverage. Here are four worth looking into.
Jerry Agent Tip 1: Compare quotes from multiple insurers
Every insurer prices coverage differently, which means the same home can cost less to insure depending on who you’re with. In Illinois, your neighborhood’s hail history and flooding potential can have varying impacts on how much you pay depending on how an insurer prices policies. Comparing quotes side-by-side with Jerry is the fastest way to find the right rate.
Recent quotes
Why it matters: Two Illinois homeowners with similar homes can still pay very different rates depending on their location and carrier. Jerry shows you quotes side-by-side to help you find coverage that fits your home and budget.
Jerry Agent Tip 2: Stack discounts for a cheaper rate
From paying in full to getting security system credits, most homeowners qualify for at least a few discounts, and stacking them can add up to real savings. But insurers don’t always apply all of them, which is why Jerry automatically finds the discounts you qualify for.
Besides bundling, here are some common Illinois home insurance discounts:
🔧 Home renovation discount
Updated your electrical, plumbing or heating systems? This is especially valuable in Illinois, where many homes have aging infrastructure from the early 1900s. Some carriers offer discounts when these systems have been replaced within the last 10 to 15 years, since modern systems reduce the risk of fire and water damage.
🔒 Security system discount
Installing safety devices like alarms, smart home systems and deadbolts can qualify you for a lower rate. Many carriers offer protective device discounts of up to 15% when you combine security systems like advanced burglar protection and automatic water leak valves.
🆕 New home discount
Newer homes are less likely to have costly claims, and insurers reward that. Depending on the carrier, homes built within the last 10 to 15 years may qualify for savings of up to 15% for the first year you’re with an insurance company.
🎓 Claims-free discount
The longer you go without filing a claim, the more you save. Most insurers offer this discount after three or more claims-free years, with some offering savings of up to 20%.
🏡 HOA or gated community discount
If your home is in a homeowners association or gated community, you may qualify for a lower premium. Insurers view these properties as lower risk due to added security and regular maintenance.
💳 Pay-in-full discount
Paying your full annual premium upfront instead of in monthly installments can earn you a discount with many carriers, typically between 5-10%.
⏳ Loyalty discount
Staying with the same insurer year after year can lead to increasing savings. Some carriers start rewarding loyalty after just one year, with discounts growing the longer you stay. But still, it never hurts to shop around when your policy is up for renewal.
📋 Quote-in-advance discount
Shopping early can pay off. Some insurers offer a discount of up to 15% when you get a quote before your previous policy expires.
🚭 Non-smoker discount
Since smoking increases the risk of house fires, some carriers offer lower rates to non-smoking households.
Key takeaway: Most homeowners qualify for multiple discounts, from bundling and security systems to claims-free credits. But insurers don’t always apply them automatically. Jerry can help you find all the discounts you’re eligible for to maximize your savings.
Jerry Agent Tip 3: Pick the right deductible
Your deductible – the amount you pay out of pocket before insurance kicks in – has a direct impact on your premium. According to the Insurance Information Institute, raising your deductible from $500 to $1,000 can reduce your premium by 10 to 25%, depending on your location, insurer and home’s replacement cost.
A higher deductible means a lower premium, but more out of pocket if you file a claim. In Illinois, where hail and wind claims are common, it’s worth thinking carefully about how often severe weather might affect your home. To find the right balance:
- Check what you can afford out of pocket. If a $2,000 expense after a storm would be manageable, a higher deductible could save you hundreds a year. If it would strain your budget, stick with a lower one.
- Consider how often you’d actually file a claim. Most homeowners only file a claim once every 8 to 10 years, so the premium savings can add up long before you ever pay that deductible.
The Jerry difference: Jerry lets you compare quotes for different deductible amounts to see how it affects your home insurance costs.
Jerry Agent Tip 4: Improve your credit score
In Illinois, insurers can use credit-based insurance scores to help set your premium. Homeowners with good or excellent credit often save hundreds compared to those with fair or poor credit. Improving your credit isn’t an overnight fix, but even gradual improvements could lead to a lower rate at your next renewal.
To boost your credit score, focus on paying bills on time, keeping credit card balances below 30% of your limit and avoiding new credit applications before shopping for insurance. Building your credit score could take some time, but most people see meaningful improvement within 3 to 6 months of consistent on-time payments and lower balances.
If your credit isn’t where you want it to be, don’t worry. Some insurers weigh credit less heavily than others, and Jerry can show you which carriers offer the best rates for your situation.
Key takeaway: The better your credit score, the lower your premium is likely to be. Regardless of your credit history, shopping around with Jerry can help you find a competitive rate.
Compare home + car bundles in one place, all online.
FAQ
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💰 How much does home insurance cost in Illinois?
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🏠 Is homeowners insurance required in Illinois?
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🌊 Does homeowners insurance cover flood damage in Illinois?
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🌪️ Does home insurance cover tornado damage in Illinois?
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🛡️ What is the Illinois FAIR Plan?
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📊 Does my credit score affect home insurance rates in Illinois?
Ben Moore is a writer and editor at Jerry and an auto insurance expert. He previously worked as a writer, editor and content strategist on NerdWallet’s auto insurance team for five years. His work has been published in The Associated Press, Washington Post, Chicago Sun-Times, MarketWatch, Nasdaq and Yahoo News. He also served as a NerdWallet spokesperson, with appearances on local broadcast television and quotes in Martha Stewart and Real Simple magazine.
Ben has an extensive background in digital marketing, working on affiliate and programmatic advertising campaigns for brands like Cabela’s, H&R Block and Sears. He holds a bachelors degree in marketing from Olivet Nazarene University.