ERGO NEXT leads our Illinois rankings for professional liability insurance, earning top scores for customer service and offering digital tools that get you covered in 10 minutes. The Hartford ranks as the cheapest professional indemnity insurer in the state at $78 monthly, saving Illinois businesses $7 compared to the state average. Simply Business, Coverdash and Nationwide also rank among the top errors and omissions insurance providers in Illinois.
Best Professional Liability Insurance in Illinois
Get IL professional liability insurance quotes starting at $28 monthly from MoneyGeek's top companies like ERGO NEXT, The Hartford and Simply Business.
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Updated: February 1, 2026
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Professional Liability Insurance in Illinois: Key Takeaways
ERGO NEXT provides the best professional liability insurance coverage in Illinois, while The Hartford delivers the most affordable policies starting at $78 monthly (Read More).
Professional liability insurance costs in Illinois average $85 monthly ($1,025 annually), placing the state among the more affordable options nationwide (Read More).
Professional liability insurance protects Illinois businesses from financial losses due to professional mistakes, negligence claims and failures to deliver promised services (Read More).
Illinois generally doesn't mandate professional liability coverage for most businesses, though health care professionals and other regulated industries have specific insurance requirements (Read More).
Illinois business owners should evaluate multiple small business insurance quotes and coverage features to secure the most suitable professional liability protection for their specific needs (Read More).
Best Professional Liability Insurance Companies in Illinois
| ERGO NEXT | 4.70 | $80 |
| The Hartford | 4.59 | $78 |
| Simply Business | 4.49 | $84 |
| Coverdash | 4.44 | $85 |
| Nationwide | 4.43 | $91 |
| biBERK | 4.42 | $87 |
| Progressive Commercial | 4.38 | $82 |
| Hiscox | 4.35 | $85 |
| Chubb | 4.26 | $97 |
| Thimble | 4.20 | $84 |
How Did We Determine the Best Professional Liability Insurance in Illinois?
These rates are estimates based on MoneyGeek's proprietary analysis of small businesses with two employees across 79 major industries and should not be considered quotes. Your actual rate will differ based on business-specific factors. Contact insurers directly for accurate pricing tailored to your business needs.
LEARN MORE ABOUT BUSINESS INSURANCE IN ILLINOIS
Beyond professional liability insurance in Illinois, we've provided the following state-specific resources to get the best coverage for your business:
1. ERGO NEXT: Best Professional Liability Insurance in IL
pros
Ranks first overall in Illinois for professional liability insurance
Second most affordable with rates below state average
Leads state for customer service and digital experience
A+ Superior AM Best rating backed by Munich Re
cons
Founded in 2016, less than 10 years in business
Ranks sixth for financial stability among competitors
COMPANY HIGHLIGHTS
Illinois business owners choose ERGO NEXT as the best overall professional liability insurer, earning top scores for customer service and ranking second for affordability. A Chicago IT consultant pays $80 monthly ($961 annually) and gets covered online in 10 minutes without calling an agent, then instantly downloads certificates of insurance for client contracts.
ERGO NEXT ranks second for coverage options and leads the state for digital experience. Springfield consultants and Naperville contractors manage policies 24/7 through the mobile app. ERGO NEXT's A+ Superior AM Best rating through Munich Re supports 600,000+ small businesses nationwide.
2. The Hartford: Cheapest Professional Liability Insurance in IL
pros
Cheapest professional liability insurance in Illinois
Ranks first for claims processing and overall satisfaction
A+ Superior AM Best rating with strongest financial stability
Over 200 years serving small businesses
cons
Digital experience ranks tenth nationally
Online platform trails newer digital-first insurers
COMPANY HIGHLIGHTS
The Hartford ranks as Illinois' cheapest professional liability insurer at $78 monthly ($940 annually), saving business owners $85 compared to the state average. A Rockford accountant or Peoria consultant pays $7 less per month with top-rated claims handling and overall satisfaction.
With an A+ Superior AM Best rating, The Hartford ranks first for financial stability and second overall in Illinois. Its 200+ years of experience delivers in claims processing, where it leads all competitors. Springfield financial advisors and Chicago tech consultants get lower rates and strong service, though digital tools rank tenth nationally.
3. Simply Business: Best Professional Liability Insurance Coverage Options in IL
pros
Ranks first for coverage options with 16+ carrier network
Backed by Travelers' A++ Superior AM Best financial rating
Compares multiple quotes in 10 minutes without calling insurers
Broker model finds coverage for hard-to-insure businesses
cons
Claims process ranks eighth nationally with slower resolution times
More expensive than cheaper competitors in Illinois market
COMPANY HIGHLIGHTS
Simply Business ranks first for coverage options in Illinois through its network of 16+ carriers offering specialized professional liability policies. A Chicago consultant or Aurora financial advisor pays $84 monthly ($1,011 annually) with access to multiple quotes in 10 minutes without calling individual insurers. Its broker model finds coverage for Rockford businesses rejected by direct insurers. Backed by Travelers' A++ Superior AM Best rating, the provider ranks third for digital experience.
Average Cost of Professional Liability Insurance in Illinois
Professional liability insurance costs in Illinois vary by industry. Home-based businesses pay the lowest rates at around $41 per month, while mortgage brokers pay the highest costs at approximately $183 per month. You can find specific rates for your business type using the filtering tool below.
Data filtered by:
Select
| Accountants | $164 | $1,967 |
| Ad Agency | $109 | $1,304 |
| Auto Repair | $89 | $1,063 |
| Automotive | $83 | $993 |
| Bakery | $57 | $688 |
| Barber | $48 | $571 |
| Beauty Salon | $55 | $660 |
| Bounce House | $66 | $797 |
| Candle | $46 | $553 |
| Cannabis | $132 | $1,589 |
| Catering | $87 | $1,039 |
| Cleaning | $61 | $726 |
| Coffee Shop | $67 | $805 |
| Computer Programming | $114 | $1,371 |
| Computer Repair | $69 | $833 |
| Construction | $84 | $1,013 |
| Consulting | $121 | $1,449 |
| Contractor | $71 | $849 |
| Courier | $55 | $662 |
| DJ | $50 | $603 |
| Daycare | $118 | $1,415 |
| Dental | $92 | $1,101 |
| Dog Grooming | $61 | $728 |
| Drone | $118 | $1,421 |
| Ecommerce | $68 | $810 |
| Electrical | $71 | $846 |
| Engineering | $112 | $1,350 |
| Excavation | $75 | $895 |
| Florist | $41 | $493 |
| Food | $121 | $1,454 |
| Food Truck | $66 | $794 |
| Funeral Home | $89 | $1,067 |
| Gardening | $43 | $518 |
| HVAC | $89 | $1,071 |
| Handyman | $59 | $714 |
| Home-based business | $41 | $488 |
| Hospitality | $81 | $967 |
| Janitorial | $54 | $651 |
| Jewelry | $68 | $812 |
| Junk Removal | $74 | $892 |
| Lawn/Landscaping | $56 | $675 |
| Lawyers | $161 | $1,926 |
| Manufacturing | $67 | $801 |
| Marine | $99 | $1,183 |
| Massage | $115 | $1,376 |
| Mortgage Broker | $183 | $2,197 |
| Moving | $91 | $1,086 |
| Nonprofit | $56 | $676 |
| Painting | $71 | $846 |
| Party Rental | $62 | $739 |
| Personal Training | $78 | $937 |
| Pest Control | $104 | $1,250 |
| Pet | $51 | $614 |
| Pharmacy | $63 | $750 |
| Photography | $70 | $840 |
| Physical Therapy | $102 | $1,223 |
| Plumbing | $97 | $1,162 |
| Pressure Washing | $63 | $757 |
| Real Estate | $140 | $1,675 |
| Restaurant | $91 | $1,091 |
| Retail | $59 | $711 |
| Roofing | $107 | $1,283 |
| Security | $107 | $1,285 |
| Snack Bars | $52 | $628 |
| Software | $105 | $1,263 |
| Spa/Wellness | $122 | $1,468 |
| Speech Therapist | $107 | $1,289 |
| Startup | $80 | $965 |
| Tech/IT | $109 | $1,303 |
| Transportation | $106 | $1,271 |
| Travel | $108 | $1,291 |
| Tree Service | $82 | $986 |
| Trucking | $119 | $1,433 |
| Tutoring | $66 | $797 |
| Veterinary | $128 | $1,532 |
| Wedding Planning | $84 | $1,014 |
| Welding | $84 | $1,011 |
| Wholesale | $66 | $794 |
| Window Cleaning | $69 | $826 |
How Did We Determine These Illinois Professional Liability Insurance Rates?
These rates are estimates based on MoneyGeek's proprietary analysis of small businesses with two employees across 79 major industries and should not be considered quotes. Your actual rate will differ based on business-specific factors. Contact insurers directly for accurate pricing tailored to your business needs.
What Does Illinois Professional Liability Insurance Cover?
Professional liability insurance in Illinois protects your business when clients claim you made errors or failed to deliver promised services. Professional liability insurance covers damages from these claims plus your legal costs. Different insurers and industries use various names for this same coverage:
- Errors and omissions insurance (E&O)
- Malpractice insurance (specialized type, typically in legal and medical fields)
- Professional indemnity insurance
How Much Professional Liability Insurance Do I Need in Illinois?
Illinois doesn't legally require most businesses to carry professional liability insurance. Standard coverage provides $1 million per occurrence with $2 million aggregate limits to satisfy client contracts. Major hospital systems like Advocate, Northwestern and AMITA require $1 million per occurrence and $3 million aggregate for admitting privileges. Contract requirements create practical necessity regardless of state law.
Who Needs Professional Liability Insurance in Illinois?
Professional liability insurance protects Illinois businesses handling client contracts or delivering professional services where negligence claims may arise. Certain professions dealing with contracts or professional negligence should consider professional liability insurance in Illinois.
Tech Professionals
Illinois' quantum computing and AI initiatives position Chicago as a technology hub with significant data liability exposure. Tech E&O insurance covers software errors, data breaches and missed project deadlines that Chicago tech companies and consultants encounter.
Medical Professions
Illinois doesn't mandate malpractice insurance by law, but major hospital systems like Advocate, Northwestern and AMITA require $1 million per occurrence and $3 million aggregate coverage for admitting privileges. IDFPR regulates physician licensing and tracks malpractice settlements through mandatory reporting requirements.
Legal Professionals
Supreme Court Rule 756 requires Illinois attorneys to disclose their malpractice insurance status during biennial registration with the Attorney Registration & Disciplinary Commission. Uninsured attorneys must complete a four-hour online assessment of their firm operations every two years.
Accountants
IDFPR licenses and regulates accountants providing professional services across Illinois' diverse economy. Accountants' professional liability insurance protects CPAs from claims related to tax filing errors, audit mistakes or financial reporting negligence.
Construction Contractors
State law requires licensure for roofing and plumbing contractors through IDFPR, with mandatory liability insurance minimums. Chicago, Aurora and other municipalities require general contractors to maintain liability coverage before issuing local licenses.
Financial Consultants
Chicago's strong financial services sector creates contract requirements where corporate clients demand proof of professional liability coverage. Financial advisors handling investment decisions and retirement planning encounter liability exposure requiring E&O protection.
How to Get the Best Professional Liability Insurance in Illinois
Our step-by-step guide helps Illinois businesses find professional liability insurance matching their coverage needs and budget. Follow these steps when getting business insurance in Illinois.
- 1Assess your professional liability insurance coverage needs
Evaluate your business risks and client contract requirements specific to Illinois' professional landscape. A Naperville IT consultant serving Fortune 500 clients in Chicago's corporate corridor needs higher limits than a Springfield freelance graphic designer working with local small businesses.
- 2Work with a local agent
Find an agent who understands Illinois' regulatory environment and how business insurance costs vary between Chicago's competitive market and downstate regions. Local expertise helps determine whether your Evanston legal practice needs different coverage than a Champaign consulting firm based on client expectations across Illinois metro areas.
- 3Get quotes and compare coverage details
Request quotes from multiple carriers familiar with Illinois' professional services market and compare affordable business insurance rates alongside exclusions and deductibles. An Aurora financial advisor should examine whether Cook County providers offer different terms than carriers serving the Metro East region near St. Louis.
- 4Research the best providers
Beyond price, choose insurers experienced with Illinois' unique requirements like IDFPR licensing oversight and Supreme Court Rule 756 disclosure mandates for attorneys. Verify carriers maintain strong AM Best ratings and understand Illinois' professional liability landscape shaped by Chicago's sophisticated business environment.
- 5Consider bundling discounts
Combining professional liability with other types of business insurance like general liability or commercial property coverage delivers significant savings across Illinois. A Rockford accounting firm saves 15% to 20% by bundling multiple policies, while a Joliet engineering consultant can reduce premiums $300 to $500 annually through package discounts.
- 6Don't let your coverage lapse
Claims-made policies protect you only for incidents reported during active coverage, creating gaps if you switch carriers without continuous protection. A Chicago consultant moving to a new insurer should secure tail coverage (extended reporting coverage for past work) to maintain protection for claims filed after project completion under Illinois' statute of limitations.
Get Illinois Professional Liability Insurance Quotes
MoneyGeek matches Illinois professionals with top professional liability insurers for their industry needs. Our tool below identifies the best provider for your business and delivers customized quotes.
Get Matched to the Best IL Professional Liability Insurer for You
Select your industry and state to get a customized IL professional liability insurer match and get tailored quotes.
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Illinois Professional Liability: Bottom Line
Choosing the right professional liability insurance in Illinois depends on your business risks and working with knowledgeable providers. ERGO NEXT leads our Illinois rankings, but your industry, client contracts and budget should guide your final choice. Assess your coverage needs first, then work with a local agent to compare carriers and secure protection for your business.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.