The Best Cheap Renters Insurance Quotes in Chicago
Find Cheap Renters Insurance Quotes in Chicago
Lemonade has Chicago's best cheap renters insurance for only $8 per month, on average.
Average renters insurance quotes can range by nearly $150 per year in Chicago, but most renters insurance policies cost less than $200 per year and can protect you from theft, damage and personal liability.
Cheapest renters insurance companies in Chicago
Lemonade has the cheapest renters insurance quotes at $8 per month, or $95 per year. That comes in at $98 per year cheaper than the overall average for renters insurance in Chicago.
The average cost of renters insurance in Chicago is $16 per month, or $193 per year.
Find Cheap Renters Insurance Quotes in Chicago
Renters in Chicago pay more for coverage than renters in any other major city in Illinois.
Chicago renters pay more for insurance than people living in other large cities in Illinois. The three next-most-expensive cities are all Chicago suburbs. Renters insurance in Chicago costs about $2 per month more than the average rate in Illinois, which is $14 per month.
Monthly renters insurance quotes in Chicago
Company | Monthly cost | |
|---|---|---|
| Lemonade | $7 |
| State Farm | $11 |
| Travelers | $14 |
| Amica | $16 |
| Nationwide | $16 |
| Allstate | $17 |
| Farmers | $17 |
Best insurance for most renters in Chicago: Lemonade
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Editor rating
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Average monthly rate
$7 ?
Pros and cons
Lemonade is an affordable and convenient renters insurance company for most people in Chicago because of its cheap rates and good customer service. At $8 per month, its rate was less than half the average price.
Lemonade also has strong customer service reviews, coming in second nationally in J.D. Power's annual customer satisfaction study. The company also receives a lower-than-average number of complaints from customers, according to the National Association of Insurance Commissioners (NAIC).
One potential drawback is Lemonade only operates online. That means if you want to work with an agent in person, you should choose another company.
Best for complete renters coverage in Chicago: Nationwide
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Editor rating
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Average monthly rate
$16 ?
Pros and cons
Chicago renters looking for the most complete policy can find a wide array of options with Nationwide. The company offers a range of ways to add to your coverage, good customer service and rates that are a bit cheaper than average.
Nationwide offers options like replacement cost coverage and identity theft protection, among others.
Nationwide renters insurance coverage options
- Water backup coverage
- Valuable items coverage
- Extended liability coverage
- Identity theft coverage
- Replacement cost coverage
- Flood insurance
- Earthquake coverage
Nationwide also has good customer service. The company came in second place in J.D. Power's annual survey. It also received 84% fewer complaints than expected for a company its size.
You will pay a little more for Nationwide. The company's rate of $16 per month is only 2% cheaper than the city average overall, more than both Lemonade and Travelers.
Best customer service: Amica
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Editor rating
-
Average monthly rate
$16 ?
Pros and cons
Amica has the best customer service among Chicago renters insurance companies, making it a good option for renters who want a smooth claims process. Customer service matters most when something has disrupted your life and where you live, and a good experience will help you get things back to normal faster.
Amica receives only 12% of the home insurance complaints expected for a company its size, according to the NAIC. A low rate of complaints is a good indicator that customers are happy with how their claims are handled.
That service will come at a cost, as Amica is on the higher end in terms of rates. At more than $20 per month, Amica's quotes are 26% higher than average. However, you could lower your rate if you qualify for any of the company's wide array of discounts.
- Loyalty discount: Earned if you have been with the same company for the past two years.
- Multi-line discount: You can save up to 15% if you bundle renters and auto insurance.
- Claim-free discount: Get a discount if you have not made a claim in the past three years.
- Autopay discount: If you set up automatic payments, you'll get a small discount on your bill.
- E-discount: Get a discount if you receive your policy documents online instead of in the mail.
The best renters insurance companies in Chicago
Amica is Chicago's top widely available renters insurance company for customer service.
Amica receives a low number of customer complaints. According to the NAIC, the company gets only 12% as many complaints as similar companies.
If you have access to USAA, it also offers some of the best service you can get. However, USAA is only available to members of the military, veterans or some family members.
Company |
Rating
|
|---|---|
| USAA | |
| Amica | |
| State Farm | |
| Lemonade | |
| Nationwide | |
| Travelers | |
| Allstate | |
| Farmers |
Choosing a company with great customer service can be as important as finding affordable coverage. If you ever have an emergency, an insurance company with good service will help get your life back to normal quickly. If you choose a company with poor service reviews, you may have more hassle and expense when trying to replace your things after a loss, too.
Frequently asked questions
How much is renters insurance in Chicago?
Renters insurance in Chicago costs an average of $16 per month, or $193 per year. Lemonade has the cheapest quotes in Chicago, at just $8 per month.
Who has the best renters insurance in Chicago?
Lemonade has the best renters insurance in Chicago. The company has extremely cheap rates, as well as good customer service and a smooth online experience.
Is renters insurance required in Chicago?
Renters insurance is not legally required in Chicago, but many landlords will require it when you sign a lease. You'll usually have to list your landlord as an "interested party" when you get your policy. This means that your landlord will receive a notification if your policy lapses or gets canceled.
Methodology
To determine the best renters insurance companies in Chicago Ill., we considered three primary factors: affordability, quality of coverage and customer service reputation.
Average costs of renters insurance were collected by getting online quotes from five of the top insurance companies in Chicago. Quotes are for a 25-year-old man who lives alone and has no history of insurance claims.
Quotes include $30,000 in personal property coverage and $100,000 personal liability limits.
Coverage | Limit |
|---|---|
| Personal property | $30,000 |
| Personal liability | $100,000 |
| Medical payments | $1,000 |
| Deductible | $500 |
To determine the best customer service, ValuePenguin combined data from the NAIC, J.D. Power and our own editorial scoring method.
- National Association of Insurance Commissioners (NAIC) complaint index: The complaint index assigns each insurance company a score based on the number of complaints it receives relative to its size.
- J.D. Power annual renters insurance customer satisfaction survey: J.D. Power surveys policyholders to determine their satisfaction with each insurance company based on a number of metrics, including its claims process and shopping experience.
- ValuePenguin editor rating: Our editor rating is based on customer service reviews, coverage availability and the overall value an insurance company provides for its customers.