Best cheap homeowners insurance in Eugene

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Homeowners in Eugene, Oregon, face rising property values and higher than average home insurance rates. Home values have sharply risen 25% from $342K in May 2020 to $430K in May 2021. Bankrate used Quadrant Information Services to find that Eugene’s average home insurance premiums are $1,433 per year for $250,000 in dwelling coverage.

Part of the reason premiums are so high in the Oregon city is the area’s vulnerability to wildfires, flooding and severe weather. To help you find the best home insurance companies at reasonable prices, we examined rates, coverage types, discounts and customer satisfaction ratings.

Best cheap home insurance companies in Eugene

The following five companies are Bankrate’s picks for some of the best home insurance options in Eugene. Besides cheap prices, the carriers all ranked favorably in the annual J.D. Power Home Insurance Study. These insurance companies’ rates are below the national annual average premium for home insurance of $1,312 per year and well below Eugene’s $1,433 average annual rate.

Home insurance company Average annual premium for $250k dwelling coverage J.D. Power Home Insurance Study score
Travelers $407 803/1,000
American Family $537 821/1,000
USAA $540 889/1,000*
State Farm $760 829/1,000
Allstate $875 829/1,000

*USAA is not officially ranked by J.D. Power due to eligibility restrictions.

Travelers

Eugene residents who work from home occasionally or full-time could benefit from a Travelers standard homeowners policy. Travelers includes work equipment in its home coverage to insure your work printers, computers, phones and other home office equipment.

The most unique add-on offered by Travelers Insurance may be green rebuilding coverage. Travelers will pay to rebuild or replace covered items in your home with eco-friendly versions with the green endorsement, even if they were not previously there.

Learn More: Travelers Insurance review

American Family

If you prefer to handle most of your home insurance needs online or through a mobile app, you may appreciate American Family’s digital presence. The website has plenty of tutorials about insurance and tools such as a home insurance checklist and a calculator to determine how much insurance you need.

Eugene homeowners with unique needs could also benefit from using the Personalized Coverage Assistance tool, which walks you through all the options available for home coverage through American Family.

Learn More: American Family Insurance review

USAA

USAA tops J.D. Power’s Home Insurance Study but is not officially ranked due to eligibility restrictions. Only former and present members of the military and their immediate family members can join USAA and buy home insurance.

For those who can join, you can buy home insurance and optional coverages such as flood insurance through the carrier at great rates. USAA offers unique coverages to active duty members, such as uniform coverage that pays for military uniforms that may have been damaged or lost due to a covered peril.

Learn More: USAA Insurance review

State Farm

State Farm stands apart from the rest of the home insurance options due to its combination of local presence and robust digital experience. Eugene homeowners can download the mobile app and manage the bulk of their home insurance needs through the app or the State Farm website.

Filing a claim online is simple. The app even allows you to take photographs and videos that upload directly to your digital file for the appraiser to view. If you prefer more personal service, there are 20 local agents available in Eugene.

Learn More: State Farm Insurance review

Allstate

Like State Farm, Allstate has dedicated local agents. Allstate does not have as many representing their company as State Farm does, but all you need is one. Besides local presence, Allstate’s coverage options may be just what some Eugene homeowners need.

Allstate’s Host Advantage provides insurance if you plan on sharing your home by renting out a room or occasionally renting the whole space out. There is also green rebuilding reimbursement and coverage for business property, sports equipment and musical instruments.

Learn More: Allstate Insurance review

Home insurance coverage options in Eugene

The city of Eugene has a hazards mitigation plan available for residents. Eugene homeowners should look out for hazards such as earthquakes, dam failure, wildfires, landslides and more. Some homeowners insurance companies offer additional coverage to include perils not included in a standard home policy. They are not mandatory in many cases but could help you pay for unforeseen events.

  • Flood insurance: Flooding is typical in Eugene. However, flood coverage is not included in a standard home insurance policy, so you might want to consider purchasing a policy if you live in a flood zone.
  • Green rebuild: Oregon has historically promoted green building practices, even for affordable housing. Sustainability-conscious homeowners in Oregon could add green rebuild to their home insurance to receive reimbursement when they rebuild or replace using eco-friendly materials.
  • Replacement cost: Upgrading from actual cash value to replacement cost coverage gets rid of the depreciation factor that reduces your insurance payout. Replacement value insurance pays for new versions of the claimed items, instead of a discounted amount based on the age and condition of the items/materials.

Home insurance discounts in Eugene

If every cent counts, lowering your premiums, even by 5%, could free up cash for other budget items. Some discounts offered by certain home insurance companies you may qualify for include:

  • Military: If you are a current or former member of the military, you could qualify for a premium discount. If you do not see the discount offered by your preferred insurance company, you can always ask the carrier.
  • Teacher: The University of Oregon is Eugene’s largest employer. Teachers and educators that work for the university or other educational institutions could qualify for better rates with some insurance companies.
  • Bundling: If you own one or more vehicles, bundling home and auto insurance typically lowers your rates with most carriers. Having multiple policies with one insurance company can help you save on all coverages and might be easier to manage.
  • Claims-free: If you have not filed any recent home insurance claims, you may qualify for a discount on your premium. Keep in mind that each insurance company has a different requirement, and you may also need to have been a customer with that company for a certain period before you qualify.

For the biggest impact on your homeowners insurance premium, bundling discounts may provide the greatest savings. Be sure to ask a licensed agent at the company you are looking at what discounts they can offer you.

Frequently asked questions

What is the best home insurance company?

There is not one specific home insurance company that is best for everyone. Shop around and get quotes for the same coverage from multiple companies to see what works best for you. Based on customer satisfaction and low rates, some of Bankrate’s picks for solid insurance companies include USAA, Nationwide, Travelers, Allstate, American Family and State Farm, but there may be other providers out there that suit your needs better.

How much does home insurance in Eugene cost?

In Eugene, Oregon, homeowners insurance rates average $1,433 per year for $250,000 in dwelling coverage. Your actual rates may vary and will factor in things like your home’s age, condition, and location.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $250,000
  • Coverage B, Other Structures: $25,000
  • Coverage C, Personal Property: $125,000
  • Coverage D, Loss of Use: $50,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a finance and business journalist who has been featured in Bankrate, Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and TheSimpleDollar.com. She regularly travels to Africa and the Middle East to consult with women’s NGOs about small business development and works with select startups and women-owned businesses to provide growth and visibility.
Edited by
Insurance Editor