Updated: March 11, 2026
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Top renters insurer in Illinois: Erie
Most affordable renters insurance in Illinois: Lemonade
Illinois average renters insurance cost: $180 per year
Illinois's top best renters insurance provider is Erie, earning a MoneyGeek score of 4.8 out of 5. At $13 monthly, the company scores well for customer experience and coverage.
These five companies earned the top MoneyGeek scores for renters insurance in Illinois:
| Erie Insurance | 4.84 | $13 | $153 |
| State Farm | 4.66 | $10 | $117 |
| Chubb | 4.59 | $17 | $206 |
| Lemonade | 4.59 | $7 | $83 |
| Auto-Owners Insurance | 4.5 | $13 | $155 |
*Rates for renters aged 26 to 64 with good credit and no claims history. Policy includes $20,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible.
Best for Illinois Renters
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
For $20,000 in personal property coverage, Illinois renters can pay as little as $7 per month with Lemonade, $8 less than Illinois's $15 monthly average and $96 less per year.
The 10 most affordable companies range from $7 to $17 monthly for identical coverage. Eight of 10 insurers charge less than Illinois's $15 state average for cheapest renters insurance.
| Lemonade | $7 | $-8 |
| State Farm | $10 | $-5 |
| Progressive | $13 | $-2 |
| Erie Insurance | $13 | $-2 |
| Auto-Owners Insurance | $13 | $-2 |
| USAA | $13 | $-2 |
| Westfield Insurance | $14 | $-1 |
| Farmers | $15 | $-0 |
| Allstate | $16 | $1 |
| Chubb | $17 | $2 |
Illinois renters pay $15 per month or $180 annually for renters insurance, $1 below the national average of $16. The state's higher crime rates in urban areas and severe weather events like tornadoes push up insurance claims and costs for providers.
Elgin offers the most affordable renters insurance in Illinois at $14 monthly ($167 annually), while Chicago residents pay the highest average of $17 per month ($199 annually). The spread across cities stays narrow, with most near the state's $15 monthly average, as local crime rates and weather risks create these modest pricing differences.
| Aurora | $14 | $167 |
| Chicago | $17 | $199 |
| Coatsburg | $14 | $173 |
| Elgin | $14 | $167 |
| Elmwood Park | $16 | $188 |
| Joliet | $14 | $174 |
| Naperville | $14 | $169 |
| Peoria | $14 | $172 |
| Percy | $15 | $177 |
| Rockford | $15 | $178 |
| Springfield | $15 | $180 |
| Urbana | $14 | $169 |
At the highest coverage level, State Farm offers the most affordable renters insurance in Illinois, charging $35 monthly for $250,000 in personal property coverage and $300,000 in liability protection. Lemonade dominates the lower tiers, providing the cheapest rates for $20,000 and $50,000 in personal property coverage with $100,000 liability limits.
| $20K Personal Property / $100K Liability | Lemonade | $7 |
| $50K Personal Property / $100K Liability | Lemonade | $15 |
| $100K Personal Property / $100K Liability | Allstate | $16 |
| $250K Personal Property / $300K Liability | State Farm | $35 |
Getting the right coverage starts with knowing your coverage options, estimating your property value and shopping around for competitive rates.
The price gap between insurers can be wide for identical coverage. Lemonade charges $7 monthly while Chubb charges $17 for the same $20,000 protection. Getting quotes from at least three companies could save you $10 monthly. Online tools make it easy to find the lowest rate quickly.
Keeping both policies with one insurer cuts 10% to 25% off each premium. State Farm and Auto-Owners offer bundling discounts that lower your total insurance costs while consolidating your monthly bills into one payment.
Check your emergency fund first before raising your deductible. A higher deductible drops your monthly premium but means you'll cover more costs when filing a claim. Make sure you can comfortably afford the increased out-of-pocket amount.
Many insurers won't automatically apply every discount you qualify for. Illinois companies offer savings for security systems, smoke detectors, automatic payments and claims-free records. State Farm provides good student discounts for renters under 25 maintaining a B average.
Most Illinois landlords require at least $100,000 in liability coverage, though the state doesn't mandate renters insurance by law. Your credit score, rental history and whether you own pets affect coverage requirements. Factor in your property value and local risk levels like weather and crime rates when setting limits.
Use our calculator below to find out how much renters insurance you need.
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
Clothes, shoes, bags, belts, hats, gloves, etc.
Review our experts' answers to frequently asked questions below:
Erie earns the top spot for renters insurance in Illinois with a MoneyGeek score of 4.8 out of 5. At $13 monthly, it offers high customer satisfaction at affordable rates.
Illinois renters insurance costs $15 per month or $180 annually for $20,000 in personal property coverage. The state runs $1 below the national average of $16 monthly because of severe weather risks like tornadoes and higher property crime rates in metro areas.
Allstate offers the cheapest $100,000 renters insurance coverage at $16 monthly, while Illinois averages $36 per month or $437 annually for this coverage level. Most renters choose $20,000 to $50,000 in coverage instead. The $100,000 tier works best for those with expensive belongings or valuable collectibles.
Illinois doesn't legally require renters insurance, but most landlords require at least $100,000 in liability coverage as a lease condition. Your landlord sets specific requirements, which may vary based on rental history, credit score and pet ownership. Check your lease agreement for exact coverage requirements.
We analyzed Illinois renters insurance companies to find insurers with affordable rates and excellent service.
We gathered quotes for renters with this profile:
Affordability accounted for 50% of each company's score. Customer satisfaction from industry research made up 40%. Add-on coverage options contributed 10%. Companies with the highest combined scores across all factors earned spots on our list of Illinois's best renters insurance providers.
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.
