Best homeowners insurance in Oregon of 2021

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There are roughly 4.19 million people living in the state of Oregon and 62.5% of them own a home. The average cost of home insurance in Oregon is $776 per year for $250,000 in dwelling coverage, which is far below the United States national average rate. Because heavy rains and flooding are common in the Beaver State, it is important to purchase homeowners insurance.

Home insurance protects your home and your personal belongings from damage and destruction. Before you select a provider, determine how much coverage you need, how much you can pay for a deductible and if you need any endorsement policies for added coverage. This article will help you find the best home insurance company for your needs.

Best home insurance companies in Oregon

There is always a lot to think about and consider when picking the best homeowners insurance for you. To make things easier, we compiled a list of the best Oregon homeowners insurance companies. Here are our top picks:

Home Insurance Company Average Annual Premium for $250K Liability J.D. Power Score
USAA $928 889/1,000
State Farm $686 829/1,000
Allstate $926 829/1,000
Grange $496 N/A
MetLife $622 824/1,000

USAA

USAA offers home insurance to Oregonians who are active duty or retired military personnel (and their family members). The company is widely considered to be one of the best insurance companies on the market, with affordable rates, excellent customer service, good discounts and unique coverages. USAA’s home insurance policies also include coverage for military uniforms.

Learn more: USAA Insurance review

State Farm

State Farm is the largest home insurance company in the country. The coverage is fairly standard, but Oregon homeowners get access to a wide variety of online tools and resources, plus a mobile app. State Farm also offers generous discounts for more savings, although the policies are priced below average in Oregon.

Learn more: State Farm Insurance review

Allstate

Allstate’s home insurance policies are slightly more expensive than the average rate in Oregon. However, Allstate offers unique coverage options, like sports equipment and musical instrument insurance, plus discounts for being claims-free, being a new home buyer, paying on time and switching to Allstate from another insurance carrier.

Learn more: MetLife Insurance review

Grange

Grange is the cheapest home insurance provider on our list, with an average annual premium of
$496 for $250,000 in dwelling coverage. With Grange, Oregon homeowners can customize their policy with add-ons like assisted living and equipment breakdown coverage, and save money with unique discounts.

Learn more: Grange Insurance review

MetLife

MetLife offers impressive home insurance coverage at a very low price. In Oregon, MetLife’s standard home insurance policies come with replacement cost coverage for your dwelling and personal items, plus free identity theft coverage. In addition, MetLife has 24/7 claims reporting and savings for policy bundling.

Learn more: MetLife Insurance review

Average cost of homeowners insurance cost in Oregon

The average cost of homeowners insurance in Oregon is $776 per year for a policy with $250,000 in dwelling coverage. In comparison, the United States national average rate for home insurance is $1,477 per year. Oregon homeowners pay 47% less than the average American.

Home insurance in Oregon is typically cheaper than in neighboring states. For example, the average cost of home insurance in Washington State is $975 per year, and in California the average premium is $1,101. The reason why homeowners insurance in Oregon is inexpensive is because there is generally very little risk of natural disasters or other destructive events.

Home insurance considerations in Oregon

Some Oregon homes are at risk of fire, flood and earthquake damage, but the threat is not significant. However, it is still important for Oregon homeowners to purchase an insurance policy that will protect their property from potential hazards.

Oregon common causes of loss

Although Oregon does not experience extreme weather or natural disasters often, fires are a frequent cause of loss in the drier months. In 2019, there were 2,293 fires recorded in the state. Some other losses that Oregon homeowners can face include:

  • Flooding and water damage
  • Earthquake damage
  • Landslides and mudslides

Recommended coverages in Oregon

In Oregon, homeowners should purchase a policy with standard home insurance coverages, including dwelling, personal property, liability, medical payments and loss of use coverage. In addition, Oregon homeowners should consider purchasing optional coverages for more protection, such as:

  • Flood insurance
  • Earthquake insurance
  • Identity theft coverage
  • Debris removal coverage

Frequently asked questions

Is homeowners insurance required in Oregon?

Homeowners insurance is not required by law in the state of Oregon. However, getting homeowners insurance is a very smart investment. If you have a mortgage on your home, check with your lender to see if they require insurance.

How much does homeowners insurance in Oregon cost?

The average cost of home insurance in Oregon is $776 per year. However, the actual amount you will pay depends on a number of factors, like your ZIP zip code, age, the size of your home, your credit score and more.

How do I get homeowners insurance in Oregon?

To get homeowners insurance in Oregon, look into the providers on our list to get a better sense of their coverage options and discounts. Then, request a few sample quotes to see which company can give you the best price. Don’t forget to You should also explore add-on policies if you need coverage beyond the basic policy limits.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 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 may be different.

Rates are determined based on 2020 Quadrant Information Services data.

About the author


Elizabeth Rivelli

Elizabeth Rivelli

Elizabeth has two years of experience writing for insurance domains such as Bankrate.com, The Simple Dollar, Coverage.com and NextAdvisor, among others. In addition to auto insurance, Elizabeth regularly writes about home insurance, renters insurance and life insurance. She also covers industry trends and general insurance education.