REPORT: IL Home Insurance Rates Are Up 68% Since 2020

Illinois residents are facing a steep rise in home insurance costs, according to LendingTree’s new 2026 State of Home Insurance report. The data shows annual premiums in Illinois now average $2,731—putting the state 17th in the country for highest rates and running 14% above the national average. Since 2020, home insurance prices here have surged 68%, outpacing many other states. In response, lawmakers recently passed House Bill 4273, which introduces new rules for property insurers in the state. The legislation aims to protect homeowners as they deal with soaring costs and increased rate volatility.