Renters Insurance on the North Shore and in Chicago

Renters insurance is the cheapest coverage we sell and the one tenants most often skip. A policy usually runs $12 to $25 a month and covers three things your landlord’s insurance does not touch: your belongings, your liability, and your cost of living somewhere else while the unit is repaired.

Longmeadow Insurance writes renters coverage for tenants in Wilmette, Evanston, Winnetka, and across Chicago neighborhoods including Lakeview, Wicker Park, North Center, and the West Loop.

Your Landlord’s Policy Does Not Cover You

This is the single most common misunderstanding we correct. The building owner insures the building. If a fire, a burst pipe, or a burglary destroys what is inside your unit, the landlord’s policy pays them, not you.

It also does nothing for your liability. If your bathtub overflows into the unit below, or a guest is injured in your apartment, the claim comes to you personally.

What a Renters Policy Actually Covers

  • Personal property. Furniture, electronics, clothing, bikes, and kitchen equipment, on or away from the premises. Property stolen from your car is covered by this policy, not your auto policy.
  • Personal liability. Usually $100,000 to $500,000 for damage or injury you are responsible for, including damage to other units.
  • Loss of use. Hotel and meal costs if your unit becomes uninhabitable. In a tight rental market this is often the most valuable piece.
  • Medical payments. Small no-fault coverage if a guest is hurt in your unit.

Replacement Cost, Not Actual Cash Value

Ask for replacement cost on personal property. Actual cash value depreciates everything before it pays, so a six-year-old laptop settles for a fraction of what a new one costs. The premium difference is a few dollars a month and the claim difference is substantial.

Sublimits Catch People Off Guard

Even a policy with a $40,000 property limit caps certain categories far lower. Jewelry theft is commonly limited to $1,500. Cash is often $200. Firearms, silverware, and business equipment carry their own caps.

An engagement ring, a musical instrument, camera equipment, or a bike worth more than the sublimit should be scheduled individually. Scheduling also usually removes the deductible for that item.

Common Questions

How much does renters insurance cost in Illinois?

Most tenants pay between $150 and $300 a year. Bundling with auto insurance often reduces the auto premium by more than the renters policy costs.

Does renters insurance cover flooding?

Not surface flooding. Sewer and drain backup requires an endorsement, which matters if you rent a garden unit or basement apartment. Water from a burst pipe inside the building is generally covered.

Does it cover my roommate?

Only if they are named on the policy. Unrelated roommates should each carry their own, which is usually cheaper than one shared policy with a high limit.

Do I need it if my landlord does not require it?

Requirements are increasingly common, but the liability coverage is the reason to carry it regardless. Replacing your belongings out of pocket after a fire is a much larger number than most tenants estimate.

Related Coverage

Where We Write Renters Coverage

Our offices are in Wilmette, Evanston, Lakeview, Wicker Park, North Center, Elmhurst, Elk Grove Village, and Antioch. We also write renters policies in Winnetka, Skokie, and the West Loop.

Get a Renters Insurance Quote

Most renters quotes take a few minutes. Call 847.242.1040 or request a quote online.