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.

MoneyGeek Logo IconBest General LiabilityIllinois
2024

Best General Liability Insurance in Illinois

Why Trust MoneyGeek? We collected 1,229 general liability insurance quotes and analyzed cost information alongside customer satisfaction and financial stability reports to determine the best general liability insurance companies for small businesses in Illinois.

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Coverage costs and company information for general liability insurance providers in Illinois were last updated in 2023.

1,229Quotes Analyzed
 
6 Companies Compared
 
50 Zip Codes

Best Overall General Liability Insurance in Illinois

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.

How was this MoneyGeek score calculated?

ThimbleMoneyGeek Score92Monthly Cost Without Employees$22Monthly Cost With 20 Employees$71
The HartfordMoneyGeek Score92Monthly Cost Without Employees$31Monthly Cost With 20 Employees$56
NationwideMoneyGeek Score91Monthly Cost Without Employees$36Monthly Cost With 20 Employees$39
NextMoneyGeek Score89Monthly Cost Without Employees$25Monthly Cost With 20 Employees$28
HiscoxMoneyGeek Score85Monthly Cost Without Employees$29Monthly Cost With 20 Employees$182
Best OverallScore: 92
Thimble
4/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Lowest average rate for sole proprietors

Fastest online quote application process

Excellent ability to pay claims

CONS

More expensive for LLCs than some insurers in our study

Poor customer satisfaction rating

Company Highlights

Overall, Thimble offers the best general liability insurance in Illinois. It’s also the cheapest company for sole proprietors at an average of $22 per month but more expensive for LLCs at $71 per month.

Thimble provides quotes online quickly and efficiently. Additionally, its A+ rating from AM Best indicates that paying insurance claims is not an issue. However, the company doesn’t always meet policyholders’ expectations, according to the National Association of Insurance Commissioners (NAIC) complaint index.

Cheapest General Liability Insurance in Illinois

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.

How was this MoneyGeek score calculated?

CheapestScore: 97
Next
5/5LLC Affordability
4/5Sole Proprietor Affordability
0/5Customer Satisfaction
2/5Financial Stability
4/5Online Quote Process
PROS

Affordable rates for sole proprietors

Fast online quote system

CONS

Financial stability rating could be higher

Not the most affordable for LLCs

Company Highlights

If you value affordability, Next is our top pick for the cheapest general liability insurance in Illinois. It offers the lowest average rate for LLCs at $28 per month and the second-lowest rate for sole proprietors at $25 per month.

With Next, you can obtain quotes online in just over a minute. Compared to other insurers, it does have a lower financial stability score from AM Best.

Best General Liability Insurance for Employers in Illinois

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.

How was this MoneyGeek score calculated?

Best for EmployersScore: 97
Nationwide
5/5LLC Affordability
5/5Customer Satisfaction
4/5Financial Stability
3/5Online Quote Process
PROS

Affordable rates

Strong customer satisfaction and financial stability scores

CONS

Slowest online quote system among compared insurers

Company Highlights

With Nationwide, Illinois employers can get the best balance of affordability and customer service for general liability insurance. Its policies are the second cheapest in the state at roughly $39 per month.

The company boasts strong customer satisfaction, receiving the lowest rate of complaints among insurers in our study. Furthermore, its A+ rating from AM Best indicates its superior ability to meet financial obligations, such as paying insurance claims. You can get a quote online from Nationwide, but expect the process to take longer compared to other companies.

Best General Liability Insurance for Sole Proprietors in Illinois

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.

How was this MoneyGeek score calculated?

Best for Sole ProprietorsScore: 95
Thimble
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Most affordable insurer for sole proprietors

Financially strong

Fast online quote system

CONS

Below-average customer satisfaction score

Company Highlights

In Illinois, Thimble provides the best general liability insurance for sole proprietors. An average policy from this company costs $22 per month, the lowest rate in the state.

Thimble has the financial strength to pay insurance claims, but there are instances when it falters at meeting policyholders’ expectations in terms of service, as shown in how many complaints it receives compared to other insurers. Sole proprietors can get quotes online from Thimble in just 23 seconds.

Do You Need General Liability Insurance in Illinois?

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
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SMALL BUSINESS RESOURCES IN ILLINOIS

The Illinois Department of Commerce & Economic Opportunity has low-interest loan programs to help businesses expand and thrive. These include Advantage Illinois, Cannabis Loan Program and Small Business Administration Programs.

How Much Is General Liability Insurance in Illinois?

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.

Factors That Impact General Liability Insurance Costs in Illinois

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

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    Policy limits

    Your aggregate limit amount and occurrence limit amount can affect how much you’ll pay for a policy. Having higher limits often results in more expensive premiums and vice versa.

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    Number of employees and payroll costs

    Employee count plays a significant role in your insurance costs. The more employees you have, the more your business is exposed to risks. As a result, insurance companies charge more for coverage. This can be seen in the $46 price difference between LLC and sole proprietor insurance costs in Illinois.

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    Business location

    The physical location of your business can also influence your rates. If you’re conducting your business in an area with a higher population density, traffic density or crime rate, there are more chances of injuries or claims. This can impact your premiums. Statewide averages can vary based on the city.

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    Claims history

    Insurance companies typically look at claim histories when determining rates. If you’ve filed a number of claims before, your insurer may consider this a trend and charge higher premiums to compensate for the risk of covering your business.

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    Industry

    The industry your business is in can impact the cost of your insurance. Those in high levels of risk, such as construction, have a greater likelihood of incurring liability for injury to third parties, so they tend to pay more for coverage. Browse the table below to see how different business industries affect the cost of general liability insurance in Illinois.

CleaningMonthly Cost Without Employees$168Monthly Cost With 20 Employees$3,085
General ContractorMonthly Cost Without Employees$270Monthly Cost With 20 Employees$3,903
Software DevelopmentMonthly Cost Without Employees$29Monthly Cost With 20 Employees$75

Frequently Asked Questions About General Liability Insurance in Illinois

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.

Which company has the best general liability insurance in Illinois?
Which company has the cheapest general liability insurance in Illinois?
What does general liability insurance cover in Illinois?
Does Illinois require businesses to have general liability insurance?

About Melissa Wylie


Melissa Wylie headshot

Melissa Wylie is a Content and SEO Manager at MoneyGeek. Melissa has worked in the financial content space since 2018 and has spent much of that time focused on all things small business.

Prior to joining MoneyGeek, Melissa held SEO positions at Bankrate and LendingTree. Melissa’s work has also appeared on LendingTree-owned websites ValuePenguin and MagnifyMoney.

Melissa began her career at American City Business Journals in 2015 as a reporter for the company’s women-focused publication Bizwomen. Melissa has a Bachelor of Arts in Journalism from the University of North Texas. Melissa relies on her foundation in journalism to craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.

Melissa's other work can be read on LendingTree and Bizwomen.


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