Updated: October 9, 2026
Advertising & Editorial Disclosure
Erie is the top renters insurer in Illinois, with a MoneyGeek score of 4.8 out of 5 for its balance of affordability, coverage and customer service.
Lemonade is the most affordable renters insurer in Illinois at $7 per month, which saves $96 per year compared to the state average.
Illinois renters pay $180 per year on average, or $15 per month, which matches the $15 national monthly average.
Illinois’s best renters insurance provider is Erie, which earns a MoneyGeek score of 4.8 out of 5. At $13 monthly, it scores 5 out of 5 for both customer experience and coverage, and its J.D. Power score of 692 sits 10 points above the 682 industry average.
These five companies earned the top MoneyGeek scores for renters insurance in Illinois, with average monthly premiums ranging from $7 to $17 for $20,000 in personal property coverage:
| 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.
How We Score: Affordability makes up 50% of each company’s MoneyGeek score, customer satisfaction from industry research accounts for 40% and add-on coverage options contribute 10%. The companies with the highest combined scores earned spots on our list of Illinois’s best renters insurance providers.
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 | -53% |
State Farm | $10 | -33% |
Progressive | $13 | -13% |
Erie Insurance | $13 | -13% |
Auto-Owners Insurance | $13 | -13% |
USAA | $13 | -13% |
Westfield Insurance | $14 | -7% |
Farmers | $15 | 0% |
Allstate | $16 | 7% |
Chubb | $17 | 13% |
Illinois renters pay $15 per month ($180 per year) for renters insurance, which matches the $15 national average. Costs vary by where you live in the state. Higher crime rates in cities and severe weather such as tornadoes lead to more claims, which raise costs for insurers across the state. Your price also depends on the company, since monthly rates for identical coverage range from $7 to $17 among the state’s 10 most affordable insurers.
Elgin has the cheapest renters insurance in Illinois at $14 per month ($167 per year). Chicago renters pay the most at $17 per month ($199 per year). Most cities stay close to the state's $15 monthly average, with small differences driven by local crime rates and weather risks.
| 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 |
Lemonade offers the lowest rates for $20,000 and $50,000 in personal property coverage with $100,000 in liability protection. At the highest coverage level, $250,000 in personal property with $300,000 in liability, State Farm is the cheapest at $35 per month.
| $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 |
Illinois renters insurance averages $15 per month. Knowing what your belongings are worth, what coverage types are available and what rates different insurers charge will help you avoid paying for more, or less, than you need.
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.
Bundling your renters insurance with an auto policy 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.
Erie is the best renters insurance company in Illinois, with a MoneyGeek score of 4.8 out of 5 and rates of $13 per month. Lemonade offers the lowest price at $7 monthly, and State Farm is the next cheapest at $10 with the top J.D. Power score in the 2026 renters study. Rates for identical coverage range from $7 to $17 monthly across the state’s 10 most affordable insurers, so comparing at least three quotes is the best way to avoid overpaying.
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 averages $15 per month ($180 annually) for $20,000 in personal property coverage, $1 below the $16 national average. Tornado risk and higher property crime rates in metro areas push claims costs up for providers across the state.
Allstate offers the cheapest $100,000 renters insurance in Illinois at $16 per month; the state average for this coverage level is $36 per month ($437 annually). Most Illinois renters carry $20,000 to $50,000 instead. The $100,000 tier is worth it if you own expensive belongings or valuable collectibles.
Illinois law doesn't require renters insurance, but most landlords do, at least $100,000 in liability coverage as a lease condition. Requirements can vary based on your rental history, credit score and whether you have pets. Check your lease for the exact amounts your landlord requires.
To find Illinois renters insurers that pair low rates with strong service, we compared rates and ratings across the state’s top companies. Quotes come from Quadrant Information Services, and every company was quoted for the same renter profile:
Using identical profiles means any difference in price reflects the insurer, not the policy. We then scored each company on three factors. Affordability carries the most weight at 50%, based on the quotes above. Customer satisfaction accounts for 40% and draws on industry research. The remaining 10% reflects the add-on coverage options each insurer offers. The companies with the highest combined scores made our list of the best renters insurance providers in Illinois.
Mark Fitzpatrick is a licensed Property and Casualty (P&C) Insurance Producer and MoneyGeek's resident expert in insurance and economics. In nearly a decade covering the insurance market at LendingTree and MoneyGeek, he's analyzed hundreds of carriers and millions of rates across auto, home, renters, health and life insurance.
His work has appeared in The Washington Post, The New York Times and NPR. He draws on independent cost and consumer experience data, and no insurance company partnerships affect his recommendations.
Mark studied at Boston College and later earned a master's in economics and international relations from Johns Hopkins University. He worked in financial risk management at State Street before joining MoneyGeek. He's also a five-time “Jeopardy!” champion.
