Landlord Insurance in Oregon
Get Coverage That's Affordable and Accurate in Oregon
Written by
Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for TrustedChoice.com on a continuous basis and is here with the facts about all your insurance inquiries.
Reviewed by
Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career. He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.
When you own an Oregon rental property, you'll need to ensure that you have the right protection. Since you're taking on more risk than a standard homeowner, your coverage requirements will be different. Fortunately, you won't have to obtain protection on your own.
An independent insurance agent can help find a landlord policy that's affordable and sufficient. Coverage can be quoted through several carriers at once, making it seamless and cost-effective. Connect with a local agent to get started in minutes.
What Is Landlord Insurance?
Oregon landlord insurance helps protect your rental property against the elements and unintentional losses. This includes fire, theft, severe weather, and vandalism. A lot of coverages are similar to what's included under your primary homeowners insurance policy. However, there are multiple differences that need to be taken into account, and additional coverage options that will be necessary under your landlord insurance policy for adequate protection.
What Does Landlord Insurance Cover?
Landlord insurance in Oregon has base coverages that are then customized to each insured per their specific needs and property. Below are some common policy options that are included under each landlord insurance policy:
- Liability: When you are met with a lawsuit due to injury or property damage to a third party, your landlord liability coverage will help pay for medical expenses, replacement of property, and court fees.
- Property damage: When you have damage to your rental property, usually due to severe weather, fire, theft, or vandalism, this coverage will apply and help with the cost to repair or replace.
- Personal property: When you store any personal property at your rental house, this coverage will help pay for the loss or repair of those items when a covered claim has occurred.
Can a Landlord Require Renters Insurance?
It is common practice for Oregon landlords to require their tenants to carry renters insurance. This policy will protect the tenant's personal property and cover any liability claims. It also resolves any unnecessary losses that may be applied to the landlord's insurance policy without it. Each landlord is typically listed as an additional insured on the renters insurance policy to protect themselves as well.
How Much Does Landlord Insurance Cost?
Your Oregon landlord insurance premiums will vary depending on individual risk factors. Some of the most common information used when determining your rates is as follows:
- Standards of lease
- Prior claims reported
- Experience level
- Property values
- Personal property values
- Length of lease
- Coverage limits selected
Does Landlord Insurance Cover Tenant Damage?
In Oregon, your landlord insurance policy will not have coverage for intentional tenant damage. Theft and vandalism are covered for an outside party, such as a burglary or break-in. However, if your tenant is the one causing the destruction to your property, your policy will not apply. Below are some additional coverages you may want to consider for proper protection:
- Workers' compensation: When employing workers to handle your rental properties, this policy will pay for the medical expenses and lost wages of an employee who gets injured or becomes ill on the job.
- Loss of rent coverage: If a covered claim puts your rental property out of commission for 12 to 24 months, this coverage will help pay for the mortgage and other expenses in the meantime.
- Inflation protection: Carriers often increase coverage limits each year due to inflation. This insurance helps lock in your rates.
- Umbrella liability: This coverage provides additional liability protection if your underlying policies exceed their limits.
Save on Landlord Insurance
Our independent agents shop around to find you the best coverage.
What Are the Best Landlord Insurance Companies?
Oregon landlord insurance should start and end with a reputable carrier. There are many to choose from, but knowing which is best for you can be a challenge. Check out these top markets in your area:
| Best Landlord Insurance Companies in Oregon | Star Rating |
| Nationwide |
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| Travelers |
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| Hiscox |
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| Liberty Mutual |
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Obtaining quotes to cover your rental property doesn't have to be difficult. Work with a local agent at no cost and get competitive options.
Why Shop Landlord Insurance with an Independent Insurance Agent?
If you're looking for the best landlord insurance to protect your assets, then an independent agent can help. When purchasing coverage, there are key limits you'll want to have for proper protection. It can be challenging to know what should be included if you're not a licensed agent.
Fortunately, an independent insurance agent has a network of carriers that can help. Since they'll do the shopping for you at no additional cost, you'll save time and money. Get connected with a local expert for free.