Renters Insurance

Who Has The Cheapest Renters Insurance Quotes in Illinois?

Who Has The Cheapest Renters Insurance Quotes in Illinois?

Lemonade offers the best renters insurance rates in Illinois — a policy costs $7 per month, on average.

Compare Cheap Renters Insurance in Illinois

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Renters insurance doesn't cost much, but it can provide essential financial protection if you ever experience a loss. We collected renters insurance prices across the state of Illinois to find the best, most affordable options.

The best price for renters insurance in Illinois is $85 per year. However, we don't recommend buying a policy based on price alone — coverage options and customer service are just as important.


Finding cheap renters insurance in Illinois

The cheapest renters insurance in Illinois comes from Lemonade. At $7 per month, a policy is 49% cheaper than the state average.

The average cost of renters insurance in Illinois is $14 per month, or $168 per year.

Renters in Illinois pay $47 per year less than the national average, which is $215 per year.

Graph showing renters insurance rates in Illinois by company

Compare Cheap Renters Insurance in Illinois

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Illinois renters should also consider comparing quotes from State Farm. At $126 per year, a policy from State Farm is 25% cheaper than the state average.

Company
Monthly rate
Lemonade logo
Lemonade$7
State Farm logo
State Farm$11
Travelers logo
Travelers$14
Amica logo
Amica$16
Nationwide logo
Nationwide$16
Allstate logo
Allstate$17
Farmers logo
Farmers$17

Methodology


Best renters insurance for most people: Lemonade

Lemonade offers the cheapest renters insurance in Illinois and is a great option for renters shopping for same-day insurance.

Read our full review.

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The good:

  • Cheap quotes
  • Excellent online experience

The bad:

  • No agents
  • Inconsistent customer service

We recommend Lemonade as the best renters insurance option for most people in Illinois. It has the cheapest prices of any company we looked at, with an average rate of $7 per month. That's 49% less than the statewide average — a savings of $83 per year.

Lemonade also offers a user-friendly online experience.

Its streamlined shopping experience uses a chat-bot to help renters get a quote and purchase a policy in just a few minutes. Renters can file a claim using the Lemonade website or app — simple claims are often processed immediately, which is much faster than traditional insurers.

Unfortunately, Lemonade has mixed customer service reviews. It received the second-highest score on J.D. Power's annual customer satisfaction survey. However, Lemonade receives nearly twice as many complaints as other insurers of a similar size, according to the National Association of Insurance Commissioners (NAIC).


Best for local insurance agents: State Farm

State Farm has offices all across Illinois, making it the best option for renters who prefer a relationship with an agent.

Read our full review.

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The good:

  • Cheaper-than-average rates
  • Reliable customer service
  • Can share a policy with roommates

The bad:

  • Mediocre coverage options

State Farm offers the best renters insurance in Illinois for people who prefer working with an agent. On average, a policy costs $11 per month, which is 21% cheaper than the state average. In addition, State Farm gives renters the option to share a policy with roommates, a choice that's not available from many other insurers. Splitting the cost of a policy with roommates may make State Farm the cheapest option for these renters.

Renters are generally satisfied with the service they receive from State Farm. The company has fewer customer complaints than other insurers based on its size, according to the NAIC. In addition, State Farm earned an above-average score on J.D. Power's customer satisfaction survey.

The main drawback to State Farm is its mediocre coverage options. While the company offers a few useful extras like valuables coverage and extended liability, it's missing other important features such as replacement cost coverage.


Best customer service: Amica

Amica offers Illinois renters the best-rated customer service in the state.

Read our full review.

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The good:

  • Excellent customer service

The bad:

  • More expensive than average
  • Few coverage options

We recommend Amica for renters focused on top-rated customer service. In general, renters are satisfied with the service they receive from Amica. According to the NAIC, the company only receives one-third as many complaints as expected relative to its size.

Amica's rates are on the expensive side at $16 per month, which is 14% more than the Illinois state average. The cost of a policy from Amica is more than double the price of the same coverage from the cheapest insurer we found, Lemonade.

While renters can customize a policy with extra coverages like replacement cost and identity theft protection, Amica lacks some common add-ons such as water backup coverage.


Illinois renters insurance quotes by city

Renters in Chicago pay the highest rates for insurance in Illinois — $193 per year, on average.

The cheapest quotes in the state's major cities can be found in Naperville, where a policy costs $162 per year. That's $31 per year cheaper than Chicago.

City
Average annual cost
Difference from state average (%)
Arlington Heights$167-1%
Aurora$1733%
Berwyn$1733%
Bloomington$1712%
Bolingbrook$1691%
Show All Rows

Compare Rates

Best-rated renters insurance in Illinois

Amica offers Illinois renters the highest-rated customer service experience in the state.

Great customer service is essential when choosing a renters insurance company. A company with dependable, friendly customer service can make the process of buying your policy much easier and reduce the stress of having to file a claim.

Company
Rating
USAA
Amica
State Farm
Lemonade
Nationwide
Travelers
Allstate
Farmers

Frequently asked questions

Who has the best renters insurance in Illinois?

The best insurer depends on your needs as a renter. Lemonade offers the best renters insurance for most people, while State Farm is an excellent choice for apartment renters.

Is renters insurance required in Illinois?

Renters insurance is not required in Illinois. However, your landlord or property management company may require you to purchase a policy as a part of your lease agreement.

Where can I find the cheapest renters insurance in Illinois?

Lemonade has the cheapest renters insurance quotes in the state. A policy costs $7 per month, or $85 per year, on average.

How much does renters insurance cost in Aurora, IL?

Renters in Aurora can expect to pay $14 per month for insurance, which is 3% more expensive than the state average. In comparison, those living in Springfield pay $15 per month, on average, which is 5% higher than the Illinois average.

Methodology

To compare the best renters insurance companies in Illinois, we collected quotes from seven top companies in 25 major cities around the state. Quotes are based on a single, 25-year-old man who lives alone and hasn't made any renters insurance claims. Our sample policy includes $30,000 of personal property coverage with a $500 deductible, plus $100,000 of liability protection.

To evaluate the customer service of renters insurance companies in Illinois, we considered three main sources: the National Association of Insurance Commissioners (NAIC) Complaint Index, J.D. Power's renters insurance satisfaction survey ratings and our own ValuePenguin editor's rating, which considers customer reviews, coverage offerings and the overall value provided by an insurer.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.