Home Insurance in Oregon

Oregon homeowners insurance: what you need to know

The average cost of home insurance in Oregon is $840 per year or $70 per month. While this is less than the US average, Oregon homeowners should still get quotes from multiple companies — it's the best way to find a cheap homeowners insurance policy.

Unlike auto insurance, home insurance is not priced based on state-level legislation. Even so, major differences exist in homeowners insurance rates from state to state. Insurance policy prices in US states may differ depending on the number and value of home policy claims filed in that state, and depend on the value of the belongings and property you're covering.

Get an idea of homeowners insurance costs in Oregon via the below data. 

 

Table of contents:

1. Rates by company
2. Rates by coverage amount
3. Rates by deductible amount
4. Rates by city
5. Bundling savings
6. Frequently asked questions
7. Natural disaster coverage

 

The cheapest home insurance companies in Oregon

Homeowners insurance rates in Oregon vary depending on which insurer you choose. Safeco offers the best deal on home insurance in Oregon — just $367 yearly. This compares favorably to Oregon's average price of $840, offering a $473 discount on average policy costs statewide.

Begin the hunt for inexpensive home insurance by reviewing the cheapest Oregon companies, listed below. Then, see our list of which home insurance carriers ranked best for customer satisfaction. 

 

AFFORDABLE HOME INSURERS IN OREGON

Insurance Company	Average Yearly Rate in Oregon
Safeco	$367
Enumclaw	$472
Travelers	$634
Oregon Mutual	$651
MetLife	$733

 

Oregon home insurance prices by coverage levels

How much you spend on home insurance coverage is greatly affected by the level of coverage you choose. Homeowners in Oregon who carry $100,000 of dwelling coverage pay an average of $419 per year, while those with dwelling coverage of $400,000 pay around $1,001 per year.

 

POPULAR COVERAGE LIMITS IN OREGON

Coverage Level	Average Annual Cost
$100,000 Dwelling	$419
$200,000 Dwelling	$608
$250,000 Dwelling	$696
$400,000 Dwelling	$1,001

 

Homeowners insurance deductibles in Oregon

Homeowners have a lot of decisions to make when deciding on a homeowners insurance policy, including how much their deductible should be. A homeowners deductible is the amount you must pay out of pocket toward a covered loss. The deductible chosen can impact your insurance rates directly.

When thinking about your deductible, a good rule of thumb is that the lower your deductible, the higher your premiums. This means that those looking for lower rates will want to consider a higher homeowners deductible. It's worth remembering that a homeowners deductible should only be as high as you can reasonably pay in the event of a loss.

Below are some standard deductible options offered on most home policies as well as with corresponding average insurance rates.

 

HOME INSURANCE PREMIUMS BY DEDUCTIBLE IN OREGON

Deductible Tier	Average Annual Homeowners Insurance Rate
$500	$757
$1,000	$696
$1,500	$664
$2,000	$626
$5,000	$540

 

Oregon homeowners insurance costs by city

Homeowners insurance rates in Oregon differ by city. Prices may depend on local variables such as the likelihood of weather-related claims in the area, meaning your ZIP code could have a major impact on how much you pay.

The cheapest homeowners insurance in Oregon is available in Tualatin. An average homeowners insurance policy in Tualatin costs just $697 per year — $143 less than the statewide average. Reference the below table to see the cheapest cities in Oregon for home insurance.

 

CHEAPEST CITIES FOR HOMEOWNERS INSURANCE IN OREGON

City	Average 12-Month Home Insurance Rate
Tualatin	$697
Aloha	$703
Hillsboro	$718
Beaverton	$725
Corvallis	$730

 

Looking for information on homeowners insurance in a specific city?

• Portland

 

Home and auto insurance bundling in Oregon

If you want to save on insurance, consider purchasing your homeowners and car insurance policies from the same company. A home and car insurance bundle in Oregon can lead to substantial savings on your auto insurance bill. Bundling policies in Oregon leads to a yearly discount of $160.

 

HOME AND AUTO BUNDLING DISCOUNTS IN OREGON

Avg. Annual Rate (No Bundle)	Avg. Annual Rate (w/ Bundle)	Annual Savings ($)	Annual Savings (%)
$1,373	$1,213	$160	13%

 

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Oregon homeowners insurance FAQs

 

Does homeowners insurance cover boats in Oregon?

In Oregon, it's typical for many homeowners policies to extend liability coverage to boats under a certain size (usually under 25 feet in length and 50 horsepower). This means that it is likely to pay should you cause an accident. However, this will not typically provide much coverage for damages to your boat. For more robust coverage you may need a separate boat policy.

Does Oregon allow a non-homeowner to insure a house?

Oregon requires you to have an "insurable interest" in the property before you are allowed to insure it. As a non-homeowner, it's highly unlikely that any insurance company would allow you to take out a policy on a piece of property owned by others.

 

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Natural disaster coverage in Oregon

 

Does homeowners insurance cover fires in Oregon?

Fire damage is typically covered by every standard home insurance policy in Oregon. If a fire destroyed or damaged your home, your home insurance company would cover the damage to your property — up to your policy limits. The frequency of wildfires in Oregon reinforces the importance of having home insurance: 9% of houses in the state are considered at risk of sustaining wildfire damage, and 897, 263 acres were burned in the state in 2018.¹

Dealing with wildfires and home insurance can get complicated. Check out our guide to learn more. 

Your home insurance policy would cover additional living expenses if your dwelling is deemed uninhabitable. Damage occurring via arson — or fire-related damage to a vacant home — will not be covered by a home insurance policy.

 

Does homeowners insurance cover flooding in Oregon?

Damage from flooding, whether from a hurricane or a torrential downpour, is not covered by homeowners insurance policies. To insure your Oregon home against flood damage, purchase insurance from a private flood insurance company or through the National Flood Insurance Program (NFIP).

Flood insurance coverage from private companies may vary, but if you buy through the NFIP you are allotted coverage for:

• $250,000 structural coverage
• $100,000 personal property coverage

If the value of your personal property and home exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.

 

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Sources:

¹Insurance Information Institute

 

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