5 Best Peoria Homeowners Insurance Companies (2025)
Encompass, Westfield, and Chubb are a few of the best home insurance companies in Peoria.
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Home insurance in Peoria costs an average of $2,244 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. Though Illinois is prone to flooding and tornadoes, Peoria still has relatively affordable rates.[?] That said, the increased risk of severe weather makes having robust coverage important.
The good news is that coverage options in the Prairie State are extensive, and you have plenty of solid insurers to choose from.
Here’s what you should know about finding home insurance in Peoria.
Quick Facts
Peoria homeowners who select a $500 deductible pay an average of $2,469 per year for a policy with $300,000 in dwelling coverage.
Since Peoria properties have minor wind and flood risks, homeowners may want to consider low-risk private flood insurance.
Allstate is the cheapest home insurer in Peoria, with an average annual cost of $2,244 for a policy with $300,000 in dwelling coverage and a $1,000 deductible.
Best home insurance companies in Peoria
Peoria homeowners have a wide variety of strong home insurance options, including Encompass, USAA, and Chubb. As you compare quotes and shop for coverage, consider your personal priorities. The best home insurance company for you depends on your coverage needs, budget, and other factors.
The following insurance companies in Peoria are the top choices for different categories.
Encompass: Best for expensive homes
USAA: Best for the military community
Westfield: Best for affordable rates
Chubb: Best for customer experience
Travelers: Best for private flood insurance
Our editorial team analyzed regional and national home insurance companies that sell policies in Peoria to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.
How much is home insurance in Peoria?
The average annual cost of home insurance in Peoria is $2,244 for a policy with $300,000 in dwelling coverage and a $1,000 deductible, according to Insurify data. Your costs may be higher or lower depending on your ZIP code, home’s square footage, credit history, home security features, and other factors.
For comparison, the national average cost of home insurance is $2,511 per year, and the statewide average in Illinois is $2,427 per year.
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Cheapest home insurance companies in Peoria
The following companies have some of the cheapest average home insurance rates in Peoria. Here are some of the top insurers to consider for affordable coverage.
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company  | Average Annual Premium |
|---|---|
| Farmers | $756 |
| Allstate | $864 |
| Travelers | $1,008 |
| USAA | $1,008 |
| Westfield | $1,188 |
| Chubb | $1,200 |
| State Farm | $1,356 |
| Foremost | $1,536 |
| American Family | $1,548 |
| Auto-Owners | $1,656 |
| Erie | $1,896 |
| Encompass | $2,592 |
| COUNTRY Financial | $2,640 |
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company | Average Annual Premium |
|---|---|
| Allstate | $1,080 |
| USAA | $1,644 |
| Farmers | $1,656 |
| Westfield | $1,788 |
| Travelers | $2,076 |
| State Farm | $2,292 |
| Chubb | $2,472 |
| Auto-Owners | $3,240 |
| Foremost | $3,744 |
| Erie | $3,828 |
| American Family | $3,876 |
| Encompass | $4,272 |
| COUNTRY Financial | $5,316 |
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company | Average Annual Premium |
|---|---|
| Allstate | $1,344 |
| USAA | $2,052 |
| Farmers | $2,364 |
| Westfield | $2,496 |
| State Farm | $2,868 |
| Travelers | $2,952 |
| Chubb | $3,624 |
| Auto-Owners | $4,620 |
| Erie | $5,364 |
| American Family | $5,412 |
| Encompass | $5,520 |
| Foremost | $5,628 |
| COUNTRY Financial | $7,860 |
How much homeowners insurance do you need in Peoria?
Calculating how much home insurance you need isn’t a perfect science. But considering each coverage type and its costs can help you get as close as possible to estimating the right amount of coverage for you.
Here’s a look at what home insurance covers.
It’s also a good idea to consider the different types of home insurance coverage, including levels, actual cash value, replacement cost, and guaranteed/extended replacement cost. Higher levels of coverage cost more but might be worth the expense.[?]
What to know about home insurance in Peoria, IL
Homes in Peoria are relatively affordable, especially compared to the national average. But home insurance costs aren’t much lower, due to severe weather in the area.
Floods are responsible for more than 90% of natural disasters in the area, and the state government recommends flood insurance for homeowners in Illinois. You have to purchase a separate flood insurance policy from the National Flood Insurance Program (NFIP) or a private insurer. It’s an extra monthly expense, but it pays for itself if you ever need to file a claim, since flood claims can easily surpass $100,000.[?]
It’s also worth asking your insurance company about coverage for named storms. Some insurers have separate wind and hail deductibles, which usually cost 1% to 5% of your policy. Even though it’s not an up-front monthly expense, it’s something to plan for if you need to file a claim.[?]
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Average cost of home insurance in other cities in Illinois
Your location significantly affects home insurance costs, even within the same state and city. For example, people in a different Illinois city may pay more due to a higher history of theft or being located further away from emergency services, like fire stations.
Here’s how Peoria’s average home insurance rates compare to the rest of the state. The average premiums below reflect costs for a policy with $300,000 in dwelling coverage and a $1,000 deductible.
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
City | Average Annual Premium |
|---|---|
| Rockford | $2,004 |
| Springfield | $2,052 |
| Peoria | $2,064 |
| Chicago | $2,472 |
Peoria homeowners insurance FAQs
The answers to these common questions about homeowners insurance can help you navigate coverage options in Peoria, Illinois.
Home insurance in Peoria costs an average of $2,244 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. For coverage with a $500 deductible, the average annual cost is $2,469. If you purchase an additional flood insurance policy, you’ll pay more each month for coverage.
Allstate is the cheapest homeowners insurance in Peoria. A policy with $300,000 in dwelling coverage and a $1,000 deductible costs an average of $79 per month.
Westfield, Chubb, and USAA are a few of our top picks for home insurance companies in Peoria. But the best home insurance company for you depends on your priorities and coverage needs. Comparing quotes can help you find the right coverage.
The 80% rule is a guideline for determining the right amount of insurance coverage for your home. It states that your policy should cover at least 80% of the replacement cost of your home in order for an insurer to fully pay out on a claim.
The average annual cost of home insurance for a policy with $500,000 in dwelling coverage and a $1,000 deductible is $3,844 in the U.S., $3,549 in Illinois, and $3,262 in Peoria. The exact price you’ll pay depends on your location, coverage, credit history, and other factors.
Yes. Your credit history can affect the cost of home insurance in Illinois because insurers in most states can consider your credit-based insurance score when setting rates. You may pay more for home insurance if you have a poor credit history.
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