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By: Hemanth Ramesh August, 29, 2019

Chicago is the largest city in the state of Illinois, with a population of 2,705,994, which is slightly less than 25% of the total population of Illinois. It is also the third most populous city in the United States. However, Chicago has a much higher crime rate than New York City and Los Angeles, the largest cities in the US. Naturally, higher crime rates translate into higher insurance costs.

The central business district often called The Loop, the north, south and west sides are the Major sections of the city.  Over a third of the population of Chicago resides along the neighborhoods of Rogers Park to the north to the southern shore.

Homeowners in Chicago pay an average homeowner’s insurance rate of $796 per annum, according to a Gavop study. Chicago experiences about 11,897 robberies annually and over 89,297 crimes targeting properties. It is generally observed that higher crime rates translate into higher insurance costs. The neighborhood of Forest Glen was identified as the safest, with only 0.0027 violent crimes per capita in 2018.


Chicago has a much higher crime rate compared to New York City and Los Angeles, the largest cities in the US. However, the crime rates are lower compared to smaller cities like Newark, New Orleans, and Detroit.

According to the year-end crime statistics, 468 murders were reported in Chicago in 2015 and 762 in 2016. The city also experienced a dramatic rise in gun violence from 2015-2016, with 4,331 shooting victims. Low crime neighborhoods saw a much lower murder rate of 2.5 murders per 100,000 residents. East Garfield Park was found to be the neighborhood with the highest crime rates. About 1322 violent crimes were reported for a population of 20,656 in the neighborhood in 2018.


Installing better safety features on properties can not only give Chicago homeowners some peace of mind but also help lower their home insurance rates. For example, deadbolt locks can get Chicago homeowners a discount of $48 on their homeowner's insurance. Homes with burglar alarms (Smart alarm sensors, indoor cameras, outdoor cameras, smart locks, sky control panel) get an additional discount of $40. Fire extinguishers can earn Chicago homeowners a discount of about $135 on their insurance policy.


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Hemanth Ramesh

Hemanth Ramesh works as a writer for Gavop. He has previously written content for film promotions, start-ups, advertising agencies and event management firms. Hemanth Ramesh completed his MA in Journalism and Mass Communication from The English and Foreign Languages University. His other passion includes script writing.