Updated: December 12, 2024
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In Chicago, Illinois, State Farm is both the best overall and the cheapest option for home insurance. For those prioritizing customer service, Auto-Owners Insurance is the preferred choice.
These companies meet various needs, so it's best to choose based on personal factors like budget, desired coverage and service quality.
Best HomeInsuranceChicago, ILTable of Contents
Why Trust MoneyGeek? We use data from Illinois' Department of Insurance and Quadrant Information Services to find the top homeowners insurance in Chicago, basing our suggestions on reliable data and industry standards.
Home insurance premiums in Chicago showcase the most competitive estimates as of September 2024.
MoneyGeek found that State Farm is the best option in Chicago, IL, for $100K dwelling coverage, with a MoneyGeek score of 92 out of 100.
The scores for home insurance companies in Chicago range from 44 to 92. These figures reflect MoneyGeek's scoring system — insurers may receive different scores based on factors such as credit history and the age of your home.
| State Farm | 92 | $979 |
| Auto-Owners Insurance | 86 | $2,529 |
| American Family | 83 | $2,292 |
| Nationwide | 81 | $1,162 |
| Farmers | 78 | $1,336 |
| Allstate | 69 | $1,462 |
| Travelers | 44 | $5,388 |
MoneyGeek found that State Farm is the best option for home insurance in Chicago, IL, for $100K dwelling coverage. The two best overall home insurance companies in the city for the same dwelling coverage are:
State Farm is the best home insurance provider due to its affordability and high customer satisfaction, which contribute significantly to its top MoneyGeek score.
In Chicago, several companies offer diverse prices and service levels. While cost is important, factors like customer service and claim processes should also be considered, as they can be crucial when making claims.
State Farm is the best overall company, with high affordability and customer satisfaction scores. It provides useful coverages like the building ordinance or law that helps upgrade your home to meet new building codes. Other coverages are the back-up of sewer or drain, which protects against water damage from backed-up sewers, and mold, which many policies tend to exclude.
You can save with discounts like bundling and protective devices. Bundling your home and auto insurance can lower your premium.
MoneyGeek found that Auto-Owners Insurance provides the best customer service for home insurance in Chicago for $100K dwelling coverage. Here are the top two providers for customer service.
Auto-Owners Insurance leads due to its high customer satisfaction and balanced coverage options. Excellent service in home insurance involves quick claims processing and helpful customer support.
Auto-Owners is the best for service quality, with high customer satisfaction and coverage scores. Auto-Owners also offers useful coverages. Guaranteed replacement cost helps if your home costs more to replace than expected. Equipment breakdown covers failures of home appliances. Scheduled personal property protects valuable items like jewelry from loss or damage.
Discounts like responsible payment and paperless help you save. Pay on time for 36 months to qualify for responsible payment.
MoneyGeek found that State Farm is the best cheap home insurance option for $100K dwelling coverage in Chicago, IL. The top two best and cheapest homeowner insurance companies are:
State Farm balances high affordability and great customer satisfaction scores. Choosing affordable home insurance can mean lower coverage, which saves you money but might not be enough if something bad happens.
In instances where saving on premiums is a priority, considering the cheapest companies or learning the average cost of homeowners insurance in Illinois may be beneficial. What makes the best cheap different from the cheapest home insurance is that the former balances cost with customer experience while the latter focuses on cost alone.
State Farm earned high scores in affordability and customer satisfaction. It offers comprehensive home insurance with various coverages. Building ordinance or law helps with rebuilding costs if your home needs updates to meet current regulations. Scheduled personal property covers valuable items like cameras. Back-up of sewer or drain protects against water damage from sewer back-ups.
You can also save with discounts like bundling and protective devices, such as installing fire alarms.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
Rates updated:
Dec 23, 2024
Homeowners insurance in Chicago is influenced by several factors, including location. Comparing insurance rates in the city can save money, but it's time-consuming, taking about 15 minutes per company. Comparing rates from at least three companies can take over an hour. Try MoneyGeek's home insurance calculator to save time. Enter your age, dwelling coverage, credit score, deductible, liability coverage and a few other details to get an instant estimate.
MoneyGeek found that State Farm offers the cheapest option in Chicago, IL. The dwelling coverage you select greatly affects home insurance premiums.
State Farm is the best-rated and cheapest choice in Chicago for $100K and $250K, though Allstate is the least costly for $500K coverage with a lower score. Finding the cheapest homeowners insurance in Illinois can help you manage your finances better.
| State Farm | $979 |
| Nationwide | $1,162 |
| Farmers | $1,336 |
| Allstate | $1,462 |
| American Family | $2,292 |
| Auto-Owners Insurance | $2,528 |
| Travelers | $5,388 |
MoneyGeek found that Allstate is the best option for high-value homes in Chicago, IL. Homes that cost more to replace need higher dwelling coverage, which can affect home insurance costs.
Allstate carries competitive rates for high-value homes. According to MoneyGeek, its cost-effectiveness makes it highly affordable, though it isn't always the best based on various factors.
| Allstate | $3,935 |
| State Farm | $4,253 |
| Farmers | $4,710 |
| Nationwide | $4,858 |
| American Family | $7,250 |
| Auto-Owners Insurance | $8,446 |
| Travelers | $16,128 |
Nationwide offers the most affordable home insurance for new homes in Chicago, IL.
Nationwide has the lowest annual premium for homeowners insurance in Chicago. However, it may not be the best choice for other criteria, according to MoneyGeek. While cost matters, ensure you are adequately covered.
| Nationwide | $525 |
| State Farm | $587 |
| Farmers | $976 |
| American Family | $1,148 |
| Allstate | $1,293 |
| Auto-Owners Insurance | $1,858 |
| Travelers | $2,107 |
The best cheap homeowners insurance in Chicago depends on your needs. Consider other factors apart from premiums, like coverage limits and customer service. Follow these steps to get the best cheap home insurance.
Consider what you require for your home in Chicago. Assess rebuilding costs, personal property value and liability needs to determine how much home insurance coverage you need.
Look into insurance companies in Chicago. Focus on those with good financial stability, positive customer feedback and a solid service history.
After identifying your coverage needs, compare home insurance quotes. In Chicago, $100K dwelling coverage premiums can range from $979 with State Farm to $5,388 with Travelers.
Inquire with each provider about potential discounts. These may include savings for bundling policies, installing safety features or maintaining a claims-free record.
Opting for a higher home insurance deductible can reduce your premium. Ensure the deductible is an amount you can afford if a claim is necessary.
Enhancing your home's security with systems and sturdy locks can lower its risk profile and reduce insurance costs.
Keeping a good credit score can impact your insurance rates in Chicago. Ensure timely bill payments and minimize outstanding debt.
Consider combining your homeowners insurance with other policies, such as auto insurance. This approach can result in substantial discounts and savings.
The best cheap home insurance provider in Chicago depends on the coverage you need and how much you can spend. Get answers to some of the most commonly asked questions about the best cheap insurance rates in Chicago, IL.
The average cost of home insurance in Chicago is $1,578.
The cheapest home insurance company in Chicago is State Farm, with an annual premium of $979.
The best home insurance in Illinois for Chicago residents is from State Farm, with a MoneyGeek score of 92 out of 100.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
