Best General Liability Insurance in Illinois (2024)

MoneyGeek ranked general liability insurance companies based on their affordability, customer satisfaction, financial stability and online quote process. We found that Thimble offers the best overall general liability insurance in Illinois, earning high ratings in affordability and financial stability. An average policy from this company costs $22 per month for sole proprietors and $71 per month for limited liability companies (LLCs).

For those who prioritize affordability, Next is the most affordable company for general liability coverage in the state. For LLCs, it has an average cost of $28 per month. For sole proprietors, it costs $25 per month.

With a MoneyGeek score of 92 out of 100, Thimble is the best overall company for general liability insurance in Illinois. See how insurers in the state ranked in our study with their average costs and MoneyGeek scores using the table below.

On average, Next offers the most affordable general liability insurance in Illinois at $25 per month for sole proprietors and $28 per month for LLCs.

We ranked companies in this category based on an affordability score that combines the average monthly cost for sole proprietors and LLCs. Keep in mind that our top pick may not be the cheapest for both entity types.

In Illinois, employers might get the best general liability insurance coverage from Nationwide. It received a MoneyGeek score of 97 out of 100. An average policy from this insurer costs $39 per month.

Our rankings for companies in this category are based on the average monthly cost for LLCs with 20 employees. General liability insurance costs are significantly affected by employee count. Companies with fewer than 20 employees tend to spend less for coverage, whereas those with a greater employee count pay more.

Sole proprietors looking for general liability insurance in Illinois may consider Thimble the best option. This company has a MoneyGeek score of 95 out of 100 and provides policies at an average cost of $22 per month.

In this category, we ranked companies based on the average monthly cost for sole proprietors with no employees. It’s worth noting that those in high-risk industries, like construction, tend to pay more for insurance.

While general liability insurance is not required by Illinois state law, you should still consider purchasing coverage to protect your business from unexpected expenses caused by:

• Third-party bodily injury: If a client or customer sustains an injury at your business, general liability insurance helps cover their medical expenses.
• Third-party property damage: General liability insurance pays for repair or replacements if your business or employees accidentally damage someone else’s property.
• Personal and advertising injury: General liability insurance covers legal expenses and other damages if someone sues your business or employees for libel, slander, false advertising or copyright infringement.

Note that general liability insurance may be necessary to obtain business licenses or win contracts in certain industries.

In Illinois, businesses with one or more employees are required to get workers’ compensation insurance, a type of business insurance. They must also purchase commercial auto insurance with minimum liability limits of:

• $25,000 per person for bodily injury liability
• $50,000 per accident for bodily injury liability
• $20,000 per accident for property damage liability

General liability insurance in Illinois has an average cost of $29 per month for sole proprietors and $75 per month for LLCs. Note that these rates are for a policy with a $2 million aggregate limit, a $1 million occurrence limit and a $0 deductible.

The aggregate limit refers to the maximum amount an insurance provider will pay for claims during the policy period, whereas the occurrence limit refers to the maximum amount an insurer will pay per claim. The deductible is the amount that business owners have to pay out of pocket before insurance kicks in to cover a claim.

The cost of general liability insurance varies for each business based on these factors:

Your best option for general liability insurance in Illinois depends on your specific business needs and other factors. We answered some frequently asked questions to help you in your decision-making process.