Savvy savers in the Windy City know that to get the best insurance rates, you need to shop around.
If some time has passed since you last looked at policies for renters insurance, Chicago residents can find significant savings and comprehensive coverage by getting a few quotes.
In a rush? We found that Lemonade Insurance is the best overall company for Chicago renters.
Read over our reviews below to see how we came to this decision.
Our #1 Pick
Lemonade is our #1 pick overall for renters insurance in Chicago. Their application is super fast, their site is easy to navigate, and they have some of the lowest rates.
Find Out Who Made Our List of Best Renters Insurance In Chicago.
Plus More Details On Each Company, Why You Need Renters Insurance, What Does It Cover, And How To Apply For Coverage.
1. Lemonade
5.0
Lemonade burst into the insurance market with great deals, impressive tech, and a drive for charitable giving.
Their AI, Maya, personalizes a policy for you based on your answers to a few simple questions, all in under two minutes.
Filing claims is fast and easy thanks to their forward-thinking technology.
Best of all, they donate money left over at the end of the year to a charity of your choice.
Pros
Cons
Lemonade has an A- from the Better Business Bureau. They have not been rated by AM Best yet.
Overall, Lemonade is the best renters insurance company for Chicago residents.
2. Progressive
4.5
Progressive Insurance has always offered its competitor's pricing when providing you a quote.
Their tool is a big plus in our book, as you can see exactly what you're saving.
Progressive also offers the most impressive array of discount opportunities we've seen.
Starting with the "Name Your Price" tool is an excellent way to build a policy around your budget.
Pros
Cons
Better Business Bureau, as well as AM Best, gave them an impressive A+ rating.
Progressive offers the best insurance discounts and has a top-rated customer service department.
3. Quote Wizard
4.0
If you want to compare many insurance companies in one place, QuoteWizard is the place to go.
This insurance marketplace has insurance companies fighting for your business, so you're guaranteed to get a great rate.
Their customer service department is highly rated as well.
Pros
Cons
Neither the Better Business Bureau nor AM Best has rated QuoteWizard.
Want to compare quotes easily? QuoteWizard is your best option.
4. Liberty Mutual
4.0
If you're just starting to live on your own or are attending college in the Chicago area, every penny counts.
Liberty Mutual offers the lowest liability limit of all the insurance companies we reviewed. By lowering the liability limit, you pay less every month.
Liberty Mutual is a solid choice if you donāt mind giving up some perks for a lower cost.
Pros
Cons
AM Best and the Better Business Bureau have given Liberty Mutual an A rating.
Liberty Mutual has the best coverage for young tenants and college students in Chicago.
5. Amica
4.0
Amica Insurance brags about their customer service, and they've got the awards to back that up.
Being the first insurance company to receive more than 50 J.D. Power Customer Satisfaction Awards speaks volumes.
Pros
Cons
Both AM Best and the Better Business Bureau gave Amica an A+ rating.
Amica has record-setting customer service.
Is Renter's Insurance Required in Chicago?
While renters insurance is not a requirement in Chicago, your landlord or homeowner's association may require it.
That said, it is smart to have coverage in case the unexpected happens.
Does Chicago Renters Insurance Cover Floods?
No, renters insurance does not cover flood damage.
A policy will cover water damage from a burst pipe or a leaky roof; however, flood damage would require a separate policy.
THE SIMPLY INSURANCE WAY
Renters Insurance made easy.
Agents not required.
Get quotes and sign up online without talking to an agent. But, we are here if you need us.
Unbiased, expert advice.
Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.
Coverage in minutes.
You can get renters insurance coverage within minutes of getting your quotes and applying.
What Does Chicago Renters Insurance Cover In 2020?
Renters insurance covers damage, theft, or destruction of your personal property, as well as the accidental injury of your guests.
Donāt know what that means? Letās review it.
Personal Property
This part of your policy covers the damage or destruction of your possessions. It also covers theft.
You choose the value of your coverage when you purchase your policy.
Personal Liability
If a guest receives an injury while visiting you, this part of your plan will cover any resulting lawsuits. It may also include the cost of their medical expenses.
This part of your policy also covers accidental damage to your guest's possessions while in your home.
Loss of Use
Loss of use kicks in if you are unable to live in your home or use your possessions due to a covered incident.
This part of your policy can cover hotel costs and related expenses.
INSURANCE WHERE YOU LIVE
Renters insurance by state.
How Much Does Renter's Insurance Cost in Chicago for 2020?
Depending on your location and the liability limits you choose, renters insurance can cost as little as $5 a month up to over $30 per month.
Will Renter's Insurance Cover My Roommate?
No. Your renter's insurance policy only covers the people specifically named on the policy and their guests.
Your roommate should purchase their own policy.
How Do I apply for Chicago renters insurance?
To buy Chicago renters insurance you should follow the below steps.
View Your Instant Quote
First, you want to click here or any of the above buttons to start the quote process, you won't need any personal information other than the address to get your quotes fast. Once you have your quotes and pick the coverage option that works best for you, it's time to get covered.
Get Your Personal Information Together
You will need your name, address, and Social Security number. The online forms guide you through several questions to learn more about the rental you will be living in and what coverage you need.
Start Your Online Application
Once you have all of your personal information together, your next step will be to start the application. This will be easy by just following the prompts after you complete your quote.
Know The Safety Features Of Your Rental
The application might ask about smoke detectors, sprinkler systems, and deadbolts. The best renters insurance will offer discounts for those features.
Sometimes, the intake form may also ask if you have pets, especially certain dog breeds. Overall the process can take less than five minutes.
Answer Your Questions Honestly
Be sure to answer every question, truthfully. If you do not, and something happens, the company may deny your claim. Even if they do not deny your claim, you still may be committing fraud.
Add Any Additional Interest
Some landlords may require you to add them as an additional interest; this will let them know if the policy has lapsed or when you have renewed your policy. Most companies can add this during the application process or immediately afterward.
Print Your Proof Of Insurance
Once your policy has been approved and paid for, simply print out your proof of insurance, and you're covered.
THE SIMPLY INSURANCE WAY
Renters Insurance made easy.
Agents not required.
Get quotes and sign up online without talking to an agent. But, we are here if you need us.
Unbiased, expert advice.
Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.
Coverage in minutes.
You can get renters insurance coverage within minutes of getting your quotes and applying.
Take Action
We know which companies offer the best renters insurance for Chicago and for that reason we chose Lemonade as our winner.
They simplify the process while providing excellent pricing.
Don't waste any time thinking about this, if you need renters insurance, weāve done the hard work for you get your free renters insurance quote today.
IN THIS ARTICLE