Average renters insurance cost in Illinois

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Renters insurance in Illinois costs an average of $294 per year, or $25 per month. That’s for a standard policy with $40,000 in personal property coverage, $300,000 in liability protection, and a $1,000 deductible – a solid starting point for most renters.

Your actual rate depends on how much coverage you choose, which insurance company you go with, and personal factors like your ZIP code, claims history, and in some states, credit score

How much does renters insurance cost in Illinois?

Renters insurance in Illinois costs an average of $25 per month for a standard policy with $40,000 in personal property coverage and $300,000 in liability protection. Your actual premium can vary based on your location, coverage level, and the value of your belongings, so it’s worth comparing quotes from multiple insurers to find the best rate.

As a general rule, opting for a higher deductible can bring your monthly costs down, while adding extra coverage for high-value items like electronics or jewellery will push it up. Choose a deductible and coverage level that fits both your budget and replacement needs.

Renters insurance in Illinois: Where to start

The average cost of renters insurance in Illinois is $294 per year, or $25 per month for a standard policy
For the most affordable option, State Farm offers the lowest average rates in Illinois at around $167 annually
Rates vary quite a bit between insurers, so comparing a few quotes before committing is worth the effort

Which companies offer the cheapest renters insurance in Illinois?

State Farm offers the most affordable renters insurance in Illinois, with an average annual cost of $167. Allstate and Auto-Owners are also worth considering if you’re looking to keep costs down.

Choosing the cheapest insurer isn’t always the best option, so it’s important to review coverage limits, deductibles, and available discounts alongside price. The table below shows average annual and monthly rates from a range of insurers in Illinois.

Company	Average annual rate	Average monthly rate
State Farm	$167	$14
Allstate	$197	$16
Auto-Owners	$242	$20
Country Financial	$333	$28
Farmers	$367	$31
American Family	$455	$38
Travelers	$630	$53
USAA*	$212	$18

*USAA is only available to military community members and their families.

Want a more accurate renters insurance estimate?

Use our calculator to get a personalized renters insurance quote based on your location and coverage needs.

Your final premium may vary depending on the insurer, coverage limits, deductible, claims history and other rating factors.

Renters insurance calculator in Illinois

$274/year

Estimated renters insurance rates in Illinois

$23

Monthly renters insurance cost in Illinois

Compared to national average

How much does renters insurance cost by coverage level in Illinois?

At the standard coverage level – $40,000 in personal property, $300,000 in liability, and a $1,000 deductible – renters insurance in Illinois averages $294 per year.

If you reduce your personal property coverage to $20,000, that average drops to around $220 annually. Before making that adjustment, it’s worth confirming that $20,000 would genuinely cover the cost of replacing your belongings.

The table below compares average annual renters insurance costs in Illinois at both the $20,000 and $40,000 coverage levels.

Coverage level	Average annual renters insurance rate	Average monthly renters insurance rate
$20,000 with $500 Deductible and $100,000 Liability	$219	$18
$20,000 with $500 Deductible and $300,000 Liability	$238	$20
$20,000 with $1,000 Deductible and $100,000 Liability	$201	$17
$20,000 with $1,000 Deductible and $300,000 Liability	$220	$18
$40,000 with $500 Deductible and $100,000 Liability	$297	$25
$40,000 with $500 Deductible and $300,000 Liability	$317	$26
$40,000 with $1,000 Deductible and $100,000 Liability	$274	$23
$40,000 with $1,000 Deductible and $300,000 Liability	$294	$25
$60,000 with $500 Deductible and $100,000 Liability	$369	$31
$60,000 with $500 Deductible and $300,000 Liability	$391	$33
$60,000 with $1,000 Deductible and $100,000 Liability	$342	$28
$60,000 with $1,000 Deductible and $300,000 Liability	$364	$30

People also ask: How much renters insurance coverage do I need?

Coverage needs vary from person to person, but a common starting range is $20,000 to $40,000 in personal property protection and at least $300,000 in liability coverage. The right amount ultimately comes down to the value of what you own, whether any of your items warrant separate endorsements, and how much of a financial cushion you want between you and an unexpected loss.

How much does renters insurance cost by city in Illinois?

Renters insurance rates in Illinois aren’t the same across the board – where you live within the state can make a noticeable difference. Local factors like crime rates, weather exposure, and population density all influence what insurers charge.

Here’s a look at how average rates compare across major cities in Illinois.

Renters insurance rates in Illinois by city

See rates in your city

Does your ZIP code affect renters insurance rates in Illinois?

Your ZIP code is one of the biggest factors insurers use to set rates. Local risks like theft, fire and weather claims can drive premiums up or down, so two renters with the same coverage may pay very different prices.

In Illinois, rates range from about $272 in 60040 to $376 in 60699. Here are the cheapest and most expensive ZIP codes for renters insurance in Illinois.

Why your ZIP code affects renters insurance costs

Insurers use local risk data to calculate renters insurance premiums, which means rates can vary significantly by neighborhood and ZIP code.

Factors that affect renters insurance rates include:

Local theft and vandalism rates
Weather risks such as hurricanes, floods, or wildfires
Fire claims and rebuilding costs in your area

Even moving a few ZIP codes away can affect your monthly premium.

What are the most affordable ZIP codes for renters insurance in Illinois?

In Illinois, your ZIP code plays a major role in determining your premiums. Based on our data, 60040 is the most affordable ZIP code for renters insurance, with an average annual cost of $272.

ZIP codes with lower theft rates and fewer severe weather claims tend to have more affordable renters insurance premiums.

ZIP code	City	Average annual rate	Average monthly rate
60040	Highwood	$272	$23
60044	Lake Bluff	$272	$23
60048	Libertyville	$272	$23
60060	Mundelein	$272	$23
60064	North Chicago	$272	$23
60061	Vernon Hills	$272	$23
60110	Carpentersville	$273	$23
60015	Deerfield	$273	$23
60123	Elgin	$273	$23
60037	Fort Sheridan	$273	$23

What are the least affordable ZIP codes for renters insurance in Illinois?

60699 is the most expensive ZIP code for renters insurance in Illinois, at an average cost of $376 annually or $31 monthly.

Here are the average annual renters insurance rates for every ZIP code in Illinois, based on quotes from major insurers.

ZIP code	City	Average annual rate	Average monthly rate
60699	Chicago	$376	$31
60499	South Suburban	$361	$30
60418	Crestwood	$359	$30
62811	Bellmont	$352	$29
62834	Emma	$352	$29
62852	Keensburg	$352	$29
62861	Maunie	$352	$29
62955	Karbers Ridge	$350	$29
62965	Muddy	$350	$29
62071	National Stock Yards	$349	$29

How to lower your renters insurance, even in a high-cost ZIP code

Compare at least 3 quotes – rates for the same coverage can vary by $100+ between insurers in the same ZIP code
Bundle with auto insurance to save 5% to 15% on your renters policy
Ask about safety device discounts for smoke detectors, deadbolts, security systems, and smart-home monitoring
Raise your deductible from $500 to $1,000 to save around 10%
Check claims-free discounts if you haven’t filed a claim in 3+ years

Is renters insurance worth it in Illinois?

For most renters in Illinois, a renters insurance policy protects your belongings from risks like fire, theft, vandalism, and certain weather events, and shields you from liability if someone is injured inside your home.

According to figures from the US Department of Commerce, the US Census Bureau, and the American Community Survey, approximately 48% of US renter households allocate more than 30% of their income toward rent and utilities. When housing already takes up a large share of your budget, it’s worth being thoughtful about every ongoing cost – including insurance.

Shopping around makes a real difference. Beyond price, look at what each policy actually covers, what the deductible is, and how the insurer performs when claims are filed. Slightly higher premiums can be worthwhile if the coverage is meaningfully better.

Frequently asked questions

What does renters insurance actually cover?

A standard renters insurance policy covers personal belongings, liability, and additional living expenses if your rental becomes unlivable. It protects against losses from events like fire, theft, and vandalism, and can cover legal or medical costs if someone is hurt on your property. Always check the specific limits and exclusions in any policy you’re considering.

Do I really need renters insurance in Illinois?

While renters insurance isn’t legally required in most cases, it provides real financial protection that’s hard to replicate otherwise. Even a basic policy can cover thousands of dollars in losses from theft, fire, or accidental damage – costs that would otherwise come straight out of pocket. Many landlords in Illinois also make renters insurance a condition of the lease.

Sources:

Insurance Information Institute. Facts + statistics: Renters insurance. Accessed May 2026.

How much is renters insurance in other states

$269/Year

$390/Year

$406/Year

$275/Year

$300/Year

$224/Year

$325/Year

$207/Year

$215/Year

$353/Year

$252/Year

$216/Year

Show more states

Alisha Ambre

Alisha Ambre holds a Bachelor of Arts with honours in English Literature and Media Studies. She focuses on crafting clear, engaging content that makes complex information feel practical and approachable for everyday readers. When she’s not writing, she’s likely on the volleyball court or immersed in a good video game.