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Search by Quote ID → Search by Date of BirthCheap Homeowners Insurance in Illinois
The right homeowners insurance can give you peace of mind knowing that your loved ones and property are protected. Mercury makes it easy to get one of the cheapest homeowners insurance rates in Illinois, whether you own a home in the Chicago suburbs or a farmhouse in Central Illinois. Learn more about our homeowners insurance and get a fast, free quote today.
What Illinois Homeowners Insurance Covers
When you opt for Mercury Insurance for your home in Illinois, you'll discover several coverage options tailored to meet homeowners' specific needs and considerations in the Land of Lincoln. These include:
- Dwelling protection - This coverage can help pay for repair and replacement costs to your home’s physical structure if it’s damaged in a covered loss.
- Personal property - In the event of a covered loss, this coverage financially protects your belongings, from Southern antiques to modern electronics.
- Extended replacement cost - If rebuilding or replacement expenses from a covered loss exceed your policy's limits, this coverage helps extend your dwelling coverage up to a predetermined percentage.
- Additional living expenses - If a Southern storm or unforeseen event displaces you from your home, we'll cover your temporary relocation costs, such as hotel stays and meals.
- Personal liability protection - This coverage protects you from potential liabilities in your home, from backyard BBQ mishaps to unforeseen accidents.
- Guest medical protection - In the true spirit of Southern hospitality, if a guest gets injured on your property, we can help cover their medical expenses.
- Green Home - This helps cover an additional 10% to help repair or replace damaged items or materials with eco-friendly alternatives.
- Matching of undamaged siding and roofing - If a portion of your roof or siding is damaged and the original materials are unavailable, this coverage pays to replace the undamaged areas to ensure a consistent look.
- Limited hidden water, steam seepage, or leakage - This coverage helps repair water damage from concealed water leaks behind walls, floors, or household appliances.
- Refrigerated products - Considering Illinois's varying seasons, refrigerated products in your home can be at risk during power outages caused by storms. This coverage provides up to $1,000 in food items if your food spoils due to power loss or mechanical failure.
What Factors Determine Your Homeowners Insurance Rate?
Insurance companies in the state assess various factors to determine individual risk profiles. These profiles play a significant role in determining the cost of home insurance. Generally, a higher risk profile is associated with higher insurance rates. Here are the key factors Illinois insurance companies consider when assessing your insurance rate:
- Age and condition — Older homes with outdated plumbing, electrical systems, or HVAC equipment typically cost more to insure compared to newer homes. The maintenance and updates of these homes can significantly impact your insurance rate.
- Replacement cost — In Illinois, a home’s replacement cost — i.e., construction materials and labor — can vary significantly between urban and rural areas, influencing your insurance rate.
- Location — If you reside in an area with a high crime rate or are susceptible to natural disasters, you can anticipate higher homeowners insurance costs.
- High-risk home features — Certain high-risk features in your home can raise your insurance rate. For example, swimming pools can increase your liability risk, while wood-burning stoves can heighten the potential for fire hazards.
- Credit history — Poor credit history may lead to higher insurance rates. Your credit score can significantly affect your ability to secure affordable homeowners insurance, making it important to maintain good credit.
- Dog breed — Owning a dog of an "aggressive breed,” such as a Rottweiler, German shepherd, or pit bull, could potentially raise your homeowners insurance rates. Insurance companies often consider these breeds higher risk due to potential liability concerns.
How to Reduce Your Homeowners Insurance Rate with Mercury Insurance
The average cost of homeowners insurance in Illinois is approximately $1,720 per year1. We know how important it is to save every dollar you can in the Prairie State. Here are a few ways you can help reduce your homeowners insurance rate2:
- Choose a higher deductible — One effective way to lower your homeowners insurance premium is by opting for a higher deductible. Your deductible is the amount you agree to pay upfront before your insurance policy kicks in to cover expenses. Choosing a higher deductible typically results in a lower premium. However, be aware that this decision may come with higher out-of-pocket costs if you need to file a claim.
- Improve your credit score — A good credit score can help secure lower insurance premiums, in addition to lower interest rates on loans and credit cards. To boost your credit score, consider paying your bills on time, disputing any errors on your credit report, and trying to pay down revolving account balances. In Illinois, as in many other states, a solid credit history can significantly affect the cost of your homeowners insurance.
- Talk with your local insurance agent — Your local Mercury Insurance agent is your dedicated resource. They’re committed to helping you get essential coverage at a price that fits your budget. Your local agent understands the unique considerations of Illinois and can provide tailored advice and solutions based on your specific needs.
Mercury offers affordable homeowners insurance without sacrificing quality support and service. Talk with an agent today to help you find cheap homeowners insurance.
Save More with Discounts
You can also help lower your homeowners insurance rate with discounts from Mercury. Consider taking advantage of one or more of these discounts and potentially save hundreds of dollars a year:
- Home safety discounts — Installing protective devices — e.g., smoke detectors, burglar alarms, leak detectors — can help lower your insurance rate.
- Homeowners association discount — If your home belongs to a homeowners association, you may receive a discount.
- Newer home discount — If you own a home that was built fewer than 10 years before your effective policy date, you may get a discount.
- Wildfire mitigation discount — You may be eligible for this discount if you live in an area prone to wildfires.
- Multi-policy discount — Bundle home and auto policies together and save
- Green home — If your home has a Green certification by the U.S. Green Building Council LEED rating system or meets the requirements of the National Association of Home Builders Green Building Guidelines (NAHB), you may qualify for a 5% discount on all covered perils.
- Updated home — You can receive up to a 10% discount on wind and water perils if you own a home over 20 years old with permitted renovations during the past decade.
- Good payer — You can save 2% on your homeowners insurance if you’ve paid on time for the past 36 months.
- Digital — Get a 2% discount for signing up for our customer portal, paperless billing, and paperless document directory.
Mercury Insurance offers excellent coverage at an affordable price for your Illinois home. Talk with an agent today for a fast, free quote!
Your Questions About Illinois Home Insurance Answered
How much are home insurance rates in Illinois?
According to Policy Genius, the average cost of homeowners insurance in Illinois is about $1,720 per year.
How to get Illinois home insurance?
Get in touch with Mercury by calling (888) 906-2454 or start a quote online using our portal.
How do I choose good home insurance?
Mercury offers a variety of coverage options and some of the cheapest homeowners insurance in Illinois. Switching could save you hundreds, so contact your local agent today to see how you can get best-in-class coverage at an affordable rate.
What Mercury Insurance products are available to Illinois residents?
Sources: Policy Genius | Insurance Information Institute