Find the Best Homeowners Insurance Rates and Companies in Oregon
The median home value in Oregon is $489,067. Whether your home value is higher or lower than average, if you own a home in Oregon you need a reliable homeowners insurance policy to protect your investment in your home. Homeowners insurance helps you recover your financial losses when your home or belongings are damaged or destroyed.
An independent insurance agent can help you find the best home insurance in Oregon. Independent agents can help you get quotes from multiple insurance companies so that you can make the best choice for your needs and budget.
Best Homeowners Insurance Companies in Oregon
You can find homeowners insurance in Oregon from several highly rated insurance companies. The following are some of the best homeowners insurance companies in Oregon. These companies provide a mix of valuable coverage offerings, excellent customer service, and competitive pricing.
- Safeco: Safeco has been protecting individuals and families since 1923. The company offers homeowners insurance in Oregon, as well as a comprehensive range of other personal insurance policies. Working through independent agents, Safeco makes it easy to get the best mix of coverage and pricing.
- Travelers: Travelers offers highly rated homeowners insurance in Oregon. It can meet your additional personal insurance needs with a full line of products including auto, boat, identity theft, umbrella, and other coverages.
- Progressive: Progressive is based in Ohio, but offers homeowners insurance across all 50 states, including Oregon. Oregon residents can look to Progressive for most of their personal insurance needs.
- Nationwide: Nationwide provides homeowners insurance and other popular types of insurance coverage in Oregon. The company is headquartered in Columbus, OH, and is represented by independent insurance agents in 50 states, including Oregon.
- Foremost Insurance Group: Founded in 1952, Foremost Insurance Group offers a selection of personal insurance policies including home and auto insurance. The company offers flexible payment plans, numerous discounts, and 24/7 customer service.
An independent insurance agent in your area can help you learn more about these and other homeowners insurance companies in Oregon. A local agent can help you get competitive quotes for the coverage that fits your insurance needs.
What Can Homeowners Insurance in Oregon Cover?
Homeowners insurance in Oregon protects you from the costs of property damage caused by events like fires, storms, tornadoes, theft, and more. Your Oregon homeowners insurance policy should reimburse you for the cost of repairing or rebuilding your home and replacing damaged possessions.
Homeowners insurance also provides liability insurance, which covers you if you or a family member is sued for some type of negligence.
Oregon residents face property threats all the time, including certain natural disasters. Here are the top five property risks in the state:
- Wildfires and residential fires
- Flooding and water damage
- Severe storms and lightning damage
- Earthquakes and tremors
- Burglary and other property crimes
Homeowners insurance in Oregon typically covers much of the damage caused by natural disasters, including damage caused by wind, rain, hail, and fire. It also covers damage caused by burglaries and other types of property crimes.
But keep in mind that homeowners insurance in Oregon does not cover flood damage. For flood coverage, you’ll need to purchase a separate flood insurance policy. What’s more, homeowners insurance in Oregon does not cover earthquake damage. Since Oregon has a higher risk for earthquakes, homeowners should consider purchasing earthquake coverage in addition to their homeowners insurance.
A typical Oregon home insurance policy will contain several coverage categories that can help you after a natural disaster or another property damage event. These provide coverage for the inside and outside of your home according to your policy specifics. What’s more, your home insurance policy in Oregon covers expenses related to the temporary loss of use of your home after a covered event.
A homeowners insurance policy typically categorizes property coverage and coverage limits as follows.
- Dwelling coverage: Covers your house and attached structures. It also covers items like plumbing, heating, and permanently installed air-conditioning systems, and electrical wiring.
- Other structures coverage: Protects other structures on the property such as detached garages, tool sheds, retaining walls, and so on.
- Contents coverage: Protects the contents of your home and other personal belongings owned by you or family members who live with you.
- Loss of use coverage: Helps you with additional living expenses if your home is damaged by a covered peril (e.g., a fire) and you cannot live in your home while repairs are being made. It typically covers expenses like housing, meals, storage, and more, as long as they are in line with your usual living expenses.
Home insurance in Oregon also provides liability coverage for when you're faced with a lawsuit or negligence claim. This is essential protection for your assets. Personal liability coverage provides coverage if you or a resident of your household is responsible for causing property damage or an injury to someone else.
You can also customize your policy to cover other risks. You can add coverage for identity theft, sewer and water backup, scheduled personal property, business property, and more.
A local independent insurance agent can help you find homeowners insurance in Oregon.
What Won't Homeowners Insurance in Oregon Cover?
Homeowners insurance covers a wide range of problems that homeowners can encounter. It's important to recognize that homeowners insurance policies in Oregon do not cover every type of occurrence or natural disaster that you might encounter in the state.
First, home insurance in Oregon does not cover flood damage. Since flooding can be a problem in some areas of Oregon, it’s important to understand the flood risk for your home and consider purchasing flood insurance. Oregon homeowners insurance does not cover earthquake damage either, so consider purchasing earthquake coverage, as well.
In addition to excluding coverage for flood damage, the liability coverage in your homeowners insurance policy in Oregon will not protect you in all situations. If you hurt someone because of an intentional act, your liability coverage will not cover you. You can find all of the exclusions to your liability coverage in your policy documents.
And remember, whether you purchase a basic policy or a policy with more comprehensive coverage, almost all homeowners insurance policies in Oregon will exclude coverage for damage caused by the following:
- Ordinance or law (e.g., demolition or construction required to bring your house up to code)
- Earth movement (e.g., earthquakes, sinkholes, landslides)
- Water damage due to floods, sewer backups, and water that seeps through the foundation
- Power failure
- Neglect
- War
- Nuclear hazard
- Intentional acts
- Governmental action (e.g., destruction, confiscation, or seizure of covered property by any governmental or public authority)
- Loss to property resulting from faulty zoning, bad repair or workmanship, faulty construction materials, and defective maintenance.
Be sure to understand all of your policy's exclusions when purchasing your Oregon homeowners insurance.
Flood Damage in Oregon
Flooding can be a significant concern for many homeowners, but Oregon homeowners insurance does not cover flood damage.
Flooding can be a problem in some areas of Oregon. In fact, it is one of the top five risks for homeowners in the state.
In Oregon, there are over 298,000 properties that have a greater than 26% chance of being severely affected by flooding over the next 30 years. This means that 23% of all properties in the state have this level of flood risk.
Not every homeowner in Oregon will need flood insurance. It’s important to understand your flood risk and discuss your need for supplemental flood insurance with your independent insurance agent.
If necessary, your agent can help you purchase flood insurance from the National Flood Insurance Program (NFIP), a program established by the federal government to help homeowners recover after a flood event.
Average Cost of Homeowners Insurance in Oregon
Oregon is the least expensive state in the nation for home insurance. This is great news for homeowners in Oregon, who typically enjoy lower-than-average home insurance rates.
- National average yearly premium: $1,211
- Oregon average yearly premium: $677
When you receive quotes for homeowners insurance in Oregon, expect your premiums to be more or less than average. Everyone’s homeowners insurance rates are different because insurance costs are based on your individual home's characteristics and the amount of coverage you need.
The type of home you have (one-story, townhome, two-story, etc.) and its age, size, and value are the first characteristics that insurance companies use to determine your home insurance rates. They also consider the types of materials used in your home's construction, as well as several other factors, such as:
- Your claims history and credit score
- Your coverage limits and the deductible that you choose
- The crime rate and weather risks in your city or ZIP code
The best way to ensure you get the best price is to shop around. A local independent insurance agent can help you get home insurance quotes in Oregon.
Average Oregon Home Insurance Costs by City
Homeowners insurance costs vary from city to city just like they vary from home to home and state to state. If you live in a city with a high crime rate or a history of natural disasters, you’re likely to pay more for homeowners insurance than someone who lives in a very safe city. Residents of larger cities often pay more than those who live in rural areas.
In Oregon, residents of towns with higher-than-average property values pay more for home insurance coverage than people who live in cities with lower property values.
Portland, OR, a city with very high average home values ($495,055) and a very high crime rate (6.76 burglaries per 1,000 homes), has the highest average home insurance rates in the state. Homeowners in Springfield can find some of the cheapest home insurance rates in Oregon.
Average Oregon Home Insurance Costs by City
National average burglary rate 3.76 per 1,000 people
National average home value $269,000
National average home insurance cost $1,211 year
| City | Avg. home value | Burglaries / 1,000 homes | Annual insurance cost |
| Albany | $253,187 | 2.94 | $664 |
| Beaverton | $439,653 | 1.94 | $1,126 |
| Bend | $400,700 | 1.68 | $1,048 |
| Corvallis | $395,167 | 3.16 | $963 |
| Eugene | $367,171 | 4.76 | $804 |
| Grants Pass | $315,000 | 3.78 | $666 |
| Gresham | $316,149 | 4.35 | $839 |
| Hillsboro | $355,551 | 1.91 | $920 |
| Keizer | $297,023 | 2.37 | $687 |
| Lake Oswego | $793,791 | 2.91 | $1,568 |
| Medford | $280,400 | 5.69 | $804 |
| Portland | $495,055 | 6.76 | $1,246 |
| Salem | $294,041 | 5.43 | $704 |
| Springfield | $226,502 | 3.36 | $635 |
| Tigard | $398,795 | 3.34 | $1,114 |
Popular Questions about Oregon Home Insurance
The national average homeowners insurance premium is $1,211. Oregon is ranked 51st in the nation for home insurance rates, making it the cheapest state for home insurance in the nation, on average. With an average annual premium of $677, homeowners in Oregon will pay more or less than average depending on the specific risk factors for their home and neighborhood.
There is no law that requires you to purchase home insurance in Oregon, but it’s important to understand that your mortgage lender will require you to have homeowners insurance and will require proof that you have it. With over $361 million in home insurance claims paid in Oregon in one year alone, proper home insurance protection is necessary to avoid a major loss.
You have a lot of options for your homeowners insurance policy in Oregon.
The best homeowners insurance companies in Oregon are Safeco, Progressive, Nationwide, Travelers, and Foremost Insurance Group. These companies are highly rated for their mix of valuable coverage offerings and competitive pricing.
Insurance companies calculate your insurance rates in Oregon by looking at your home, the risk factors for your neighborhood, and your specific coverage needs.
If you live in a ZIP code with a high crime rate or one that is highly susceptible to natural disasters, you can expect to pay more than someone living in a safer area. In addition, owners of more valuable homes that are more expensive to repair or rebuild will pay more for home insurance than someone who owns a home with a lesser value.
Yes. There are currently 226 independent insurance agencies that can help you find appropriate home insurance coverage in Oregon. They can offer quotes from multiple insurance companies, free of charge.
The most common disasters in Oregon are
- Fires
- Severe storms
- Floods
Your Oregon homeowners insurance can help you cover damage caused by fires and severe storms. Keep in mind that home insurance in Oregon does not cover flood damage. If you live in a high-risk flood area in Oregon, you’ll need flood insurance to cover any damage to your home caused by flooding.
Homeowners insurance in Portland, OR, is $1,246 per year or $104 per month, on average. Portland homeowners pay some of the highest rates for home insurance in the state.
Oregon does not require homeowners insurance, but you’ll probably be required by your mortgage lender to have it.
Searching for the best and most affordable homeowners insurance in Oregon can be frustrating and confusing. That’s why it pays to have an experienced insurance professional in your corner.
Instead of getting an online quote, find an independent insurance agent in Oregon now, and get one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of options so you can make the best choice.
Contact an agent today for a free, no-obligation consultation.
Do You Know What Your Oregon Home Insurance Covers?
Average Cost of Home Insurance Near You
The average monthly cost of home insurance in Eugene is $67.
Your homeowners insurance is completely customized to the value of your home and property as well as other considerations like weather risks and crime rates in your neighborhood. You can therefore expect that your monthly premium may be greater or lower than this average.
The risk of earthquakes in Eugene is 383% greater than the national average. In 1991, a magnitude 6.9 quake occurred just 185 miles from the Eugene city center, and in 1992, a magnitude 7.2 occurred 261 miles away. This second quake was responsible for about $75 million in damage. As a resident of Eugene, it is important to be aware that homeowners insurance does not cover earthquake damage. For that, you will need a separate earthquake insurance policy.
The average monthly cost of home insurance in Gresham is $70.
Your house is not the same as your neighbor’s. While everyone in your neighborhood may have the same crime and weather risks influencing their rates, your homeowners insurance costs are also based on factors like the size, age, and value of your home, the age of your roof, your claims history, and potentially even your credit score. Your monthly rate for Gresham homeowners insurance may therefore be higher or lower than this average.
One of the biggest risks faced by Gresham homeowners is winter storms. One of the worst on record occurred in January 1943 when a storm dumped a whopping 19.2 inches of snow in the area. Heavy snowfalls like this can lead to extended power outages, destroy roofs, and cause ice dams, which can lead to expensive damage to shingles, eaves, soffits, fascia, and gutters. Fortunately, if this happens to you, you can turn to your home insurance provider for help covering the costs.
The average monthly cost of home insurance in Hillsboro is $77.
Not all Hillsboro homeowners will pay the same for home insurance. Your monthly rate is based on several considerations such as the crime rate in your ZIP code, the size of your home, the building materials used in your home’s construction, your claims history, the amount of your deductible, and more.
Residential fires pose one of the most devastating risks to homeowners. In addition to severely damaging your house, a fire can lead to a complete loss of your personal belongings including your clothes, furniture, electronics, and jewelry. That is why it is important for your structural coverage to be high enough to enable you to rebuild your home and that you have sufficient contents coverage to let you replace your lost or damaged property without enduring a large financial loss.
The average monthly cost of home insurance in Portland is $104.
Of course, what you may actually be expected to pay can differ significantly from this average price. This is because costs are based on the value of your property and the specific risks associated with it. Some of the many factors that can influence your premium amount include the age and size of your house, the crime rate and weather risks in your ZIP code, the age of your roof, and your claims history.
With more than 4,000 burglaries reported every year, Portland has one of the highest property crime rates in the state. It is therefore important that you take precautions like using deadbolt locks and home security systems to help protect your property. Of course, nothing is 100% foolproof against a determined criminal, so it’s a good thing that your homeowners insurance can compensate you for your losses if a burglar targets your home.
The average monthly cost of home insurance in Salem is $59.
Home insurance rates can vary from one homeowner to the next. This is especially true in a large city like Salem with its many different neighborhoods and varying property values. Your rate will be based on factors like the size, cost, and location of your home, the age of your roof, the materials used in your home’s construction, and sometimes even your credit score.
Some of the most expensive hazards faced by homeowners in Salem are floods, landslides, and mudslides. Unfortunately, none of these risks is covered by a standard homeowners insurance policy. To be fully covered, you will need to supplement your coverage with a flood insurance policy through the NFIP and either a landslide endorsement or a separate policy through another provider.
https://dfr.oregon.gov/insure/home/storm/Pages/earthquake.aspx
https://riskfactor.com/state/oregon/41_fsid/flood
https://www.fema.gov/data-visualization/disaster-declarations-states-and-counties