Low-rank adaptation (LoRA) has become the dominant method for parameter-efficient LLM fine-tuning, with LoRA-based quantization error compensation (LQEC) emerging as a powerful tool for recovering accuracy in compressed LLMs. However, LQEC has underperformed in sub-4-bit scenarios, with no prior investigation into understanding this limitation. We propose RILQ (Rank-Insensitive LoRA-based Quantization Error Compensation) to understand fundamental limitation and boost 2-bit LLM accuracy. Based on rank analysis revealing model-wise activation discrepancy loss's rank-insensitive nature, RILQ employs this loss to adjust adapters cooperatively across layers, enabling robust error compensation with low-rank adapters. Evaluations on LLaMA-2 and LLaMA-3 demonstrate RILQ's consistent improvements in 2-bit quantized inference across various state-of-the-art quantizers and enhanced accuracy in task-specific fine-tuning. RILQ maintains computational efficiency comparable to existing LoRA methods, enabling adapter-merged weight-quantized LLM inference with significantly enhanced accuracy, making it a promising approach for boosting 2-bit LLM performance. Our code is available at https://github.com/aiha-lab/RILQ.