State Farm, Allstate and Nationwide are Illinois' best cheap renters insurance companies. State Farm ranks highest for affordable rates, Allstate has a strong customer reputation, and Nationwide offers the best coverage options.
Cheap Renters Insurance in Illinois
Updated: November 5, 2025
Advertising & Editorial Disclosure
Key Takeaways
State Farm is Illinois' best overall renters insurance company, offering the cheapest policy at $189 annually.
Renters insurance in Illinois costs around $21 monthly, but prices range from $16 to $72.
To get the best and most affordable renters insurance, decide your coverage needs beforehand, research costs and compare multiple quotes.
Best Cheap Renters Insurance Companies in Illinois
| State Farm | 91 | $16 | $189 |
| Nationwide | 90 | $23 | $275 |
| Allstate | 84 | $16 | $197 |
| American Family | 78 | $59 | $710 |
| Farmers | 68 | $72 | $863 |
*This list shows rates for a renter with good credit, no claims history, $50K in property damage coverage, $100K in liability coverage, a $1,000 deductible and guaranteed replacement.
Already have renters insurance? Run your current policy through our renters insurance calculator to verify you're not underinsured as your belongings accumulate.
Illinois Renters Insurance Quote Estimates
MoneyGeek's renters insurance calculator will give you a customized estimate of your renters insurance costs.
It's free to use, requires no personal information and we won't send you any spam.
0
High
0
Average
0
Low
Rates updated:
Nov 27, 2025
Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
Compare Personalized Best Cheap Renters Insurance in Illinois
While the above list covers most renters, it may not reflect the best options for your needs. Below is a filterable table tailored to your profile to help you find the best choice in Illinois.
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Yes
Good
| State Farm | 91 | $11 | $138 |
| Nationwide | 89 | $14 | $168 |
| Auto-Owners | 83 | $16 | $189 |
| American Family | 78 | $24 | $287 |
| Allstate | 78 | $16 | $197 |
Best Illinois Renters Insurance Reviews
Below, we provide more detail about our top picks for affordability, customer service and coverage options for Illinois renters insurance.
State Farm: Most Affordable Plans
pros
Most affordable rates
Largest discount offering selection
High financial stability ratings
cons
Below-average customer satisfaction
Limited number of add-on coverage options
COMPANY HIGHLIGHTS
State Farm offers Illinois' most affordable renters insurance, starting at $16 monthly. J.D. Power ranks it seventh for customer satisfaction. Customers can access solid coverage with unique add-ons like optional replacement cost coverage, which replaces damaged or stolen items with new ones of similar quality instead of paying the depreciated value.
Allstate: Best for Customer Service
pros
Wide range of available discounts
High financial stability ratings
Excellent customer experience
cons
Fewer add-on coverage options
COMPANY HIGHLIGHTS
Allstate offers renters insurance in Illinois starting at just $16 per month. It’s our top pick for customer service thanks to strong reviews and a solid industry reputation. You can qualify for unique discounts, including ones for enrolling in autopay and for retirees aged 55 and older. The DigitalLocker app also makes it easy to create a digital record of your belongings for added convenience.
Nationwide: Best for Coverage Options
pros
Affordable rates for higher coverage
Wide range of add-on options
Strong claims satisfaction ratings
cons
Below-average overall customer satisfaction
Higher cost for lower coverage levels
COMPANY HIGHLIGHTS
Nationwide ranks second for best renters insurance in Illinois, with balanced affordability, coverage and customer service scores. While not highly rated by J.D. Power for claims and customer satisfaction, it offers unique coverage options like credit card protection and add-ons to replace selected personal property up to its actual cash value.
Average Cost of Renters Insurance in Illinois
The average cost of renters insurance in Illinois is $257 yearly, $15 higher than the national average of $242. These rates are based on a policy with $50K personal property coverage, $100K liability limits and a $1,000 deductible. Your rate may vary based on your profile.
See our table below, where you can filter major factors affecting renters' insurance rates, to find average costs for your situation.
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Good
Covered
| $50K Personal Property / $100K Liability | $21 | $257 |
Average Illinois Renters Insurance Cost by City
Renters insurance costs vary widely by city. The average annual premium in Aurora is $207; in Chicago, it's $256 for a policy with $50K in personal property coverage and $100K in liability coverage. Check the table below for the average cost in your city.
| Aurora | $207 |
| Chicago | $256 |
| Elgin | $202 |
| Joliet | $215 |
| Naperville | $209 |
| Peoria | $208 |
| Rockford | $213 |
| Springfield | $225 |
*This table shows rates for a renter with good credit and no claims history. Policies include $50K property damage coverage, $100K liability coverage, a $1,000 deductible and guaranteed replacement.
Illinois Renters Insurance: Buyer's Guide
Navigating renters insurance in Illinois can be tricky with so many options. Our detailed guide will help you find the right coverage for your needs.
How to Find the Best Cheap Renters Insurance in Illinois
Finding the right option at the lowest price can be challenging. Follow this guide to select the ideal choice for your profile:
- 1Determine the right coverage level
Understand what coverage you need before shopping for renters insurance. Know the value of your items and consider risks like weather damage, crime and liability, especially if you have pets.
- 2Research costs and discounts
After determining coverage needs, research average costs for similar profiles. Compare these against quotes to ensure fair pricing. Look for discounts you might qualify for.
- 3Compare providers
Examine different insurers' reputation, costs and coverage options. This helps narrow down where to get quotes.
- 4Consider bundling
Check if bundling renters and auto insurance with your current provider could save money. Often, the auto insurance discount can cover renters insurance costs.
- 5Get multiple quotes through different channels
Collect at least five quotes from providers, ensuring comparable coverage levels. Use comparison sites, provider websites, brokers and agents, as prices may differ across these sources.
- 6Compare policies annually
Insurance rates change frequently, so compare yearly to ensure your provider still offers competitive rates.
How Much Renters Insurance Do I Need in Illinois?
Renters insurance isn't required by Illinois law, but most landlords require at least $100K in liability coverage. Requirements may vary based on your rental history, credit score and pet ownership. Consider how much property coverage you need, local weather risks, area crime rates and pet ownership when selecting a policy.
Use our calculator to determine your ideal personal property coverage limits and how much renters insurance you need.
Personal Property Coverage Calculator
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.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Illinois Renter Risk Considerations
Risks to keep in mind if you’re renting in Illinois:
- Weather risks: Flooding is the most common natural disaster in Illinois. Some areas are also prone to earthquakes, snowstorms and tornadoes. Standard renters insurance may not cover these events, so you might need extra protection.
- Crime risks: Illinois ranks 31st in property crime and ninth in identity theft and fraud. Adding optional coverage helps protect your belongings and personal information.
- Pet ownership: If you have a pet, look into pet liability coverage. Providers vary in how they handle pet-related claims and it’s not always part of a standard policy.
- Property types: Some renters policies don’t fully cover valuable items like tools, electronics or jewelry. It’s worth checking if your insurer offers extra coverage for those or for special features on your property, such as a pool or shed.
How Does Renters Insurance Coverage Work?
Renters insurance covers damage to your belongings, liability if someone gets hurt in your rental and additional living expenses if you need to move out temporarily. You can add optional coverages for extra protection. The main coverage types include:
Coverage Type | Standard or Add-on | Coverage Details |
|---|---|---|
Standard | Pays for damaged or stolen belongings up to your policy limit. Basic coverage reimburses what items were worth at the time of loss, while replacement cost coverage pays for new items. | |
Standard | Covers medical bills and legal costs if someone gets hurt in your rental. Most landlords require this coverage. | |
Additional living expenses | Standard | Pays for temporary housing, meals and transportation when you can't live in your rental. Coverage limits vary by insurer. |
Natural disasters | Add-on | Covers earthquake or flood damage. You'll need separate policies from select insurers. |
Parts/Equipment | Add-on | Covers tools, appliances and utilities in your rental. |
Scheduled property | Add-on | Insures valuable items up to specific limits. |
Identity theft | Add-on | Covers financial losses and legal expenses from identity theft. Some policies include monitoring services. |
Pet liability | Add-on | Protects against injuries your pet causes, though standard policies may include this. |
Modifications | Add-on | Covers custom additions you've made to your rental. |
Food loss | Add-on | Reimburses food lost during covered incidents. |
Best Renters Insurance in Illinois: Bottom Line
State Farm, Nationwide and Allstate offer Illinois' best affordable renters insurance. State Farm has the lowest monthly cost at $16. While these are top recommendations, compare quotes from each company to find your best deal.
Renters Insurance in Illinois: FAQ
Below are our experts' answers to frequently asked questions:
What is the cheapest renters insurance company in Illinois?
State Farm offers the cheapest renters insurance in Illinois, with an average annual premium of $189 or $16 per month.
What is the best renters insurance company in Illinois?
State Farm is the best renters insurance company in Illinois, with a MoneyGeek score of 91 out of 100 due to its excellent balance of cost efficiency, customer satisfaction and diverse coverage options.
How much does renters insurance cost in Illinois?
The average cost of renters insurance in Illinois is $257 per year or $21 per month, 6% higher than the national average. Annual premiums range from $189 to $863.
Is renters insurance required in Illinois?
Illinois doesn't legally require renters insurance, but your landlord may. Consider your situation to decide if a policy makes sense for you. Key reasons to get coverage include protecting your belongings from common hazards and covering liability costs if someone gets hurt in your rental.
How We Found the Best Cheap Renters Insurance Companies
To find the cheapest renters insurance in Illinois, we used this base profile:
- $50K personal property coverage
- $100K liability coverage
- $1,000 deductible
- Property replacement coverage
- Good credit score
This profile determined our affordability score (60% of the total score). The remaining factors included:
- Customer satisfaction from industry research (25%)
- Add-on coverages (10%)
- Financial strength ratings (5%)
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like 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.
sources
- Illinois Emergency Management Agency and Office of Homeland Security. "Hazard Information." Accessed April 24, 2025.
- Insurance Information Institute. "Facts + Statistics: Identity Theft and Cybercrime." Accessed April 24, 2025.
- U.S. News. "Low Property Crime Rate." Accessed April 24, 2025.