Illinois Renters Insurance

We work with all of the major insurance carriers in Illinois who offer renter’s insurance to consumers. Our trained agents can help you find the most comprehensive coverage at the best possible price. In a short amount of time, you can compare policies and get quotes from many different companies. You can then choose the coverage which best suits your needs and budget.

Why You Need Renters Insurance in Illinois
Wildfires in Texas and Arizona, flooding along the Missouri River, and hurricanes in the southeastern United States and along the eastern seaboard. Living in Illinois, the headlines alone should be enough to make you realize the importance of renter’s insurance coverage. Any natural disaster can damage or destroy your personal possessions. A kitchen fire or even a broken pipe in a nearby apartment can put you at risk unless you have adequate renter’s insurance protection.

With the turmoil in the housing market over the past few years, more people than ever are renting places to live. A recent estimate put the number of Americans who rent at more than 81 million- and nearly 50 million of them don’t carry renter’s insurance. People have a lot of reasons for why they don’t purchase renter’s insurance. Unfortunately most of the more common reasons given are based on inaccurate information.

Common Myths about Renters Insurance
Here is a sampling of the most common myths:

  1. It’s too expensive. As previously explained, renter’s insurance is actually a great deal. When you consider what it would cost to replace your personal property in the event of theft, fire, or some other covered natural disaster out of pocket, it’s easy to see why having renter’s insurance coverage is a smart choice.
  2. I don’t own very much. It’s a well-known fact that most people severely underestimate the monetary value of their possessions. An easy way to calculate this is to make a complete inventory of everything you own and put a current price tag on each item. You will probably be amazed at how quickly it adds up. You should include furniture, clothing, appliances, electronic equipment, rugs, jewelry and all other items inside of your home or apartment. Unless you can afford to personally pay to replace all of this property, renter’s insurance is the safest option.
  3. My landlord’s homeowner policy will cover my things. Your landlord’s homeowner insurance policy only covers the actual building (structure) where you are living and the land on which it is built. Everything inside of the apartment or home is the responsibility of the renter.

The Cost of Renters Insurance
An average rental insurance annual premium will generally cost between $200 and $300. The actual amount you will pay depends on many factors such as the type of dwelling you live in, where the property is located, what type of coverage you choose, and the deductible amounts you select. Even your credit history and credit score can influence your total policy cost.

Generally, there are two types of coverage offered to renters. One is Actual Cash Value which pays you the amount an item is worth at the time it is stolen or damaged (depreciated amount). Replacement coverage actually pays you the amount needed to replace the item at the current market price. Replacement coverage will normally cost about 25% more than Actual Cash Value coverage.

Insurance experts estimate that the average cost of renter’s insurance is about $15 per month. For this price an individual can get $30,000 worth of personal property coverage and $100,000 worth of liability protection.

Act Now
Our trained agents are available 24 hours a day to assist you in finding the best Illinois renter’s insurance policy for the money. No one likes to think about losing their possessions to theft or fire or some other disaster. We can help you navigate through the many plans and options available so that you get the coverage you deserve at a fair price. Start enjoying the peace of mind that comes from knowing that your personal property is protected by renter’s insurance coverage. Contact us today!