Average renters insurance cost in Joliet, IL

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In Joliet, the average cost of renters insurance is $217 annually for $40,000 in personal property, $300,000 in liability and a $1,000 deductible. It is $10 less than the state average of $227 per year.

Renters insurance costs can vary based on the coverage you choose and the amount of liability protection included in your policy. If you’re living in a rental, it’s a smart way to protect your personal belongings from things like fire, smoke, theft, vandalism, and other covered incidents.

Let’s take a look at the cheapest renters insurance options in Joliet.

Key Takeaways

The average cost of renters insurance in Joliet is $217 annually or $18 monthly.
The cheapest option for renters in Joliet is State Farm, offering coverage at $11 per month.
Renters can reduce their insurance costs by taking advantage of discounts, such as installing a security system or bundling policies.

What is the average cost of renters insurance per month in Joliet?

On average, renters insurance costs in Joliet are $18 per month. It’s $1 less than the state average of $19. Renters in Joliet pay these rates for a coverage limit of $40,000 in personal property coverage, $1,000 deductible, and $300,000 in liability protection coverage.

Renters insurance rates can vary by city based on your insurer and the amount of coverage you choose. In Joliet, for example, renters pay around $14 per month for $20,000 in personal property coverage with a $1,000 deductible. If you increase your coverage to $40,000, the monthly premium goes up by $4.

If you own high-value items like jewelry, electronics, or designer furniture, it’s a good idea to consider higher coverage limits to make sure you’re fully protected.

How much is renters insurance in Joliet by deductible?

Renters insurance in Joliet costs $177 per year for a $500 deductible and $20,000 in personal property coverage.

Your deductible is the amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same (e.g., $20,000) but you increase your deductible limit from $500 to $1,000, you will pay $14 less every year for insurance.

Below are the renters insurance rates for different personal property coverage and deductible amounts.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$177	$236	$289
$1,000	$163	$217	$267

Note: The liability protection coverage is $100,000.

Who offers cheap renters insurance in Joliet?

Your search for affordable renters insurance ends here.

State Farm has the lowest rates in Joliet, with an annual premium of $131 a year or $11 per month. Based on our data, Nationwide and Auto-Owners also offer cheap rates.

Below, you’ll find the average annual and monthly rates for cheap renters insurance companies in Joliet.

Renter insurance provider	Average annual rate	Average per month rate
State Farm	$131	$11
Nationwide	$166	$14
Auto-Owners	$190	$16
Allstate	$197	$16
Farmers	$255	$21
Country Financial	$283	$24
American Family	$321	$27
Travelers	$404	$34
USAA	$165	$14

Tips for reducing the cost of renters insurance

Below are some tips to help you save on renters insurance in Joliet:

Bundle policies. If you have other policies through the same insurer, such as car insurance, bundling it with the same provider can often earn you a discount. Many insurers in Joliet offer savings for bundling policies.

Increase your deductible. Choosing a higher deductible can lower your premium, but ensure you’re prepared to cover the higher out-of-pocket costs if you need to file a claim.

Choose the right coverage amount. Regularly review your renters insurance to avoid paying for more coverage than you need. For example, you might opt for lower personal property coverage if you don’t own high-value items.

Limit small claims. Filing multiple small claims can drive up your rates. Consider paying for minor damages yourself to keep your premium low.

Shop around for quotes. Don’t settle for the first offer. Compare renters insurance rates from multiple providers in Joliet to find the best coverage at the lowest price.

Renters in Joliet should purchase renters insurance to protect their personal belongings, provide liability coverage, and cover additional living expenses if their rental becomes uninhabitable due to a covered event. Premiums may differ based on location, coverage amount and individual circumstances, but the peace of mind it offers is worth the investment. You can get an affordable policy that fits your budget by assessing your coverage needs, comparing quotes and taking advantage of available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Joliet in 2023 for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.