Renters Insurance Illinois

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In 2013, the average estimated cost of renters insurance in Illinois was $158 a year. Compared to that the average homeowners insurance is $760 a year in Illinois, thus renters insurance is cheaper than most people realize.

Comparing Renters and Owners Insurance in 2013 in Illinois

There were 71101 burglaries reported in Illinois in 2012. The landlord's policy does not cover renter's damages like burglary. Thus to get protection from events like fire, burglary and other disasters renters insurance is essential.

Renters Insurance Coverage Types:

Actual cash value policy:
This policy covers the depreciated value of the loss. For instance, that Desktop you bought for $1780 might only be worth $890 six months later – and that's all you're going to get for it.

Replacement Coverage Policy in Illinois:

Estimated Renters Insurance for Different House Types in Illinois

House Type Median Rent Estimated Renters Insurance
Single Fam $1,500 $150
Condo $1,500 $150
Duplex $1,550 $155
Studio $1,410 $141
One Bed $1,590 $159
Two Bed $1,600 $160
Three Bed $1,600 $160
Four Bed $1,800 $180
Many Bed $1,980 $198

Deductibles in Illinois:

By opting for a $500 deductible over a $250 deductible, an average of $17.38 can be saved on the insurance premium.