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How to find affordable homeowners insurance in Portland

Home insurance should be a critical consideration for every homeowner. Homeowners coverage protects you against fire, wind damage, and theft for your home and the contents inside it. With the relative frequency of such events -- and the high cost of rebuilding or repairing damages to a home -- obtaining homeowners insurance is a smart investment. A typical homeowners policy costs $65 per month in Portland, Oregon. This is almost half the national average monthly home insurance payment.

The cost of home insurance depends on many factors, including the value of the dwelling, the value of your personal items, and the materials used to construct the home. The location of your home can also influence how much you pay for homeowners insurance. Some areas are more susceptible to perils like fire, hail, frozen pipes, volcanoes, or other hazards. These can make your insurance policy even more expensive. Learn more about what your homeowners insurance policy covers.

Finding affordable home insurance in Portland starts with shopping around and comparing policies. Check out the below summary of average homeowners insurance premiums in Portland to help you get as much information as possible when you start your search for homeowners insurance. Remember: your homeowners insurance costs may vary based on your coverage limits and other factors.

 
Table of contents:
  1. Rates by insurer
  2. Rates by coverage amount
  3. Rates by ZIP code
  4. Rates by deductible amount
  5. Policy bundling savings

 

Portland home insurance by company

What you pay for homeowners insurance in Portland will depend on the insurance company you get your policy through. The most affordable home insurance in Portland is Safeco offering average annual rates at just $367 per year. This is considerably cheaper than the city’s average homeowners premium of $785.

Begin your search for a home insurance policy by reviewing the cheapest homeowners companies in Portland, Oregon, listed below. Then, see our guide to the best home insurance companies ranked by customer satisfaction and other factors.

 
AFFORDABLE HOME INSURERS IN PORTLAND
Company Average Annual Rate
Safeco $367
Enumclaw $432
Travelers $583
Oregon Mutual $657
Allstate $661

 

Portland homeowners insurance prices by coverage level

The amount of home coverage you select has an impact on the insurance premiums you pay. In Portland, carrying $200K dwelling coverage costs an average of $630, while carrying additional coverage up to $400K costs $957 per year.

 
POPULAR COVERAGE LIMITS IN PORTLAND
Coverage Level Average Annual Rate
$100,000 Dwelling $402
$200,000 Dwelling $630
$250,000 Dwelling $666
$400,000 Dwelling $957

 

Portland home insurance rates by ZIP code

Depending on the part of Portland you live in, you might see a dramatic difference in your home insurance costs. One of the factors that insurers use when pricing your policy is the number of claims filed in your surrounding area. As such, the neighborhood you live in can drastically impact your home insurance premium.

To find the most affordable home insurance rates in Portland, look no further than 97224. In the 97224 area, homeowners policies typically cost just $695 per year — a full $90 less than the Portland average. Find the best places to live in Portland for cheap home insurance by looking at the table below.

 
AFFORDABLE HOME INSURANCE AREAS IN PORTLAND
ZIP Code Average Annual Home Insurance Rate
97224 $695
97225 $715
97223 $715

On the other hand, some areas of Portland face higher homeowners insurance costs, on average. Crime rates, fire risk, and even your proximity to emergency services could lead insurance companies to see certain neighborhoods as higher risk, which could drive up area rates. The most expensive ZIP code for homeowners insurance in Portland is 97267, where the average annual rate is $873.

 
EXPENSIVE HOME INSURANCE AREAS IN PORTLAND
ZIP Code Average Annual Home Insurance Rate
97267 $873
97205 $861
97204 $829

 

Portland homeowners insurance deductibles

Homeowners face a number of choices when purchasing a policy, including the amount of their deductible. A homeowners deductible is the amount you are responsible for paying toward a covered loss. Where you choose to set your homeowners deductible corresponds directly to how much you pay in insurance premiums.

In short, having a higher deductible translates to cheaper insurance premiums. This means that those seeking lower insurance premiums will want to seriously consider a higher deductible. Bear in mind that your homeowners deductible should not be set at an amount that you would have difficulty paying in the event of a loss.

Below are some standard deductible options offered by most home insurance companies as well as with corresponding average insurance premiums.

 
HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN PORTLAND
Deductible Level Average Annual Homeowners Insurance Rate
$500 $724
$1,000 $666
$1,500 $636
$2,000 $598
$5,000 $518

 

Home and auto insurance bundling in Portland

If you’re searching for ways to save on your overall insurance costs, consider purchasing your home and auto policies from the same insurance company. Bundling homeowners and auto insurance can be a good money-saving option. By bundling your policies, Portland homeowners could see annual savings of 11% on average.

 
CHEAPEST CAR INSURANCE RATES WITH HOME BUNDLE IN PORTLAND
Company Avg. Annual Auto Insurance Rate (With Bundle)
State Farm $1,271
GEICO $1,370
Farmers $1,394
Oklahoma Farm Bureau $1,506
Progressive $1,774

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Ross Martin photo
Ross MartinManager, Content Quality

Ross joined The Zebra as a writer and researcher in 2019. As a licensed insurance agent, he specializes in writing insurance content to help shoppers make informed decisions.

Ross holds a master's degree from Royal Holloway, University of London and has a background in copywriting and education. As a former teacher, he applies his educational skills to explain insurance concepts in ways that consumers can understand.

Ross's work has been cited by The New York Times, AxiosInvestopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.