There are currently half a million renters in the state of Oregon. Whether you lease an apartment in downtown Portland for an easy commute to work, an off-campus house in the college town of Marylhurst or an Oceanside villa in Astoria, you can benefit from the protection that a renters insurance policy can afford you. Most renters in Oregon spend more time reviewing various floorplans than they do comparing renters insurance quotes. However, this very inexpensive insurance is the best way to protect your finances if you should suffer a major property loss in your rented home.
Many renters are under the impression that renters insurance is expensive and unnecessary. In fact, neither is true. This type of coverage is highly affordable and may be necessary in order to protect the investment you have made in your personal property. Consider how you would fare if all of your belongings were destroyed in a disaster such as a fire. Your landlord is not responsible for covering your personal belongings, so you would face a total loss in the absence of coverage.
While you may not think that your property is valuable enough to bother insuring, take a moment to add up the value of everything you own including your clothing, furniture, electronics and cookware. The value of your belongings may surprise you. Renters insurance can provide you with a way to replace all those items following a major loss.
Overall, the crime rate in Oregon is lower than the national average, which plays a role in keeping renters insurance rates low. Renters in cities like Eugene and Gresham, where burglary rates are higher than in most other parts of the state, should expect to receive slightly higher rates when requesting quotes. However, because this type of insurance is quite inexpensive to begin with, the difference will not be substantial.
Statistically, rented homes are more likely to be the targets of burglary than owner-occupied homes are. You can take precautions by always locking your doors and keeping entryways well lighted. If your home is the target of burglary, you should take the following steps:
Being the victim of a property crime such as burglary can be very stressful, but having an insurance company behind you can make the ordeal a bit easier to cope with.
The affordability of rate quotes from different insurance companies may surprise you. In fact, Oregon is among the least expensive states in which to purchase a renters insurance policy. In 2008, the average premium for renters insurance in this state was just $153 a year. At less than $15 a month, many renters can enjoy the security that goes along with a solid insurance policy for less than they might pay for a daily cup of coffee.
Because rates for renters insurance are so low, they will not fluctuate significantly from one person to the next. Some factors that have the potential to influence your policy costs include the following:
Even an overpriced renters insurance policy in this state is likely to be highly affordable, so there is no reason to pay more than you need to for this important coverage. Comparison-shopping enables you to be sure you are purchasing your policy at a competitive rate. An independent insurance agent in the Trusted Choice® network can help by presenting you with a variety of policies for your review. These agents can also help you determine how much coverage is enough to adequately cover your belongings.
Contact a Trusted Choice agent with an office in or near your Oregon neighborhood to get more information. With your agent’s help, you can start comparing renters insurance quotes in no time.