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Best homeowners insurance in Oregon for 2023

USAA, State Farm, Allstate, Travelers and American Family are some of the top Oregon home insurance carriers.

Updated Oct 25, 2023
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Compare the best homeowners insurance companies in Oregon

Based on our research and data from Quadrant Information Services, the best Oregon homeowners insurance comes from USAA, State Farm and Allstate. Three of these companies have an average rate that is under the $723 state annual average in Oregon, and they all offer unique and robust coverage features that might make up for the higher price. If you’re wanting a cheaper home insurance company, you may want to consider Travelers or American Family.

Insurance company AM Best J.D. Power Average monthly premium Average annual premium*
A++
884
/1,000
$52
$629
Get a quote
A++
829
/1,000
$70
$840
Read review
A
829
/1,000
$45
$537
Get a quote
A+
815
/1,000
$71
$848
Get a quote
A++
794
/1,000
$42
$507
Get a quote
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The home insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers information they need to make educated decisions when shopping for home insurance.

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The top 5 home insurance companies in Oregon

USAA

Best for military-focused coverage

Rating: 3.7 stars out of 5
3.7 Bankrate Score
JD Power: 884/1,000 AM Best: A++

Average annual premium

$ 629 for $250k dwelling coverage
USAA Review Get a personalized quote

Why USAA made our list: USAA is not eligible for official ranking with J.D. Power because it only sells insurance to active-duty military members and veterans and their qualifying family members. However, the company consistently receives some of the highest scores in the industry for customer satisfaction and offers below-average rates on homeowners insurance policies. If you qualify for coverage, your home insurance with USAA may also come with military-focused coverage options, like uniform coverage.

Who USAA may be good for: USAA may be good for individuals looking for military-focused coverage.

State Farm

Best for online resources

Rating: 3.2 stars out of 5
3.2 Bankrate Score
JD Power: 829/1,000 AM Best: A++

Average annual premium

$ 840 for $250k dwelling coverage
State Farm Review Get a personalized quote

Why State Farm made our list: State Farm is the largest home insurance company in the country by market share. The coverage from State Farm is fairly standard and the average rate for homeowners insurance policies with $250,000 in dwelling coverage is higher than the statewide average, 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. The carrier partners with Ting to provide qualifying homeowners with a free device that monitors a home’s electrical system and can help identify problems before they start a fire.

Who State Farm may be good for: State Farm may be a good fit for people who want an array of online resources and the ability to manage their policy and claims digitally.

Allstate

Best for personalized coverage

Rating: 3.5 stars out of 5
3.5 Bankrate Score
JD Power: 815/1,000 AM Best: A+

Average annual premium

$ 848 for $250k dwelling coverage
Allstate Review Get a personalized quote

Why Allstate made our list: Allstate’s home insurance policies are more expensive on average than the average cost of homeowners insurance in Oregon, but this could be due to the wide array of optional coverage choices that Allstate offers. With a policy from Allstate, you may be able to add coverage for sports equipment, musical instruments, business property and electronic data recovery. You may also be able to lower your premium with the company’s discounts for being claims-free, being a new home buyer, paying on time and switching to Allstate from another insurance carrier.

Who Allstate may be good for: Allstate may be a good choice for those interested in a high level of policy personalization.

Travelers

Best for low average rates

Rating: 3.3 stars out of 5
3.3 Bankrate Score
JD Power: 794/1,000 AM Best: A++

Average annual premium

$ 507 for $250k dwelling coverage
Travelers Review Get a personalized quote

Why Travelers made our list: Travelers offers one of the cheapest average premiums of any company on our list and also offers one of the longest lists of optional coverage. You may want to consider adding jewelry and valuable item coverage, identity fraud or green home coverage. You might be able to lower your premium even more by being claims-free, buying more than one type of policy from Travelers and having a home security system. Travelers does have a lower-than-average customer satisfaction score from J.D. Power though, so it might not be the best fit if you’re looking for outstanding service.

Who Travelers may be good for: Travelers may be a good company for homeowners interested in finding numerous add-ons and some of the lowest average rates.

American Family

Best for endorsement add-ons

Rating: 3.1 stars out of 5
3.1 Bankrate Score
JD Power: 829/1,000 AM Best: A

Average annual premium

$ 537 for $250k dwelling coverage
American Family Review Get a personalized quote

Why American Family made our list: AmFam, as it is commonly known, offers a robust selection of coverage options in addition to its basic coverage for dwelling, other structures, liability and property. This may make it a good choice for homeowners who wish to customize their policies to provide the most personalized coverage. AmFam has endorsements for hidden water damage, service line damage, matching siding and more. They also offer coverage for home businesses, short-term rentals, vacant home and vacation home coverage.

Who American Family may be good for: AmFam may be a good option for those who wish to work with a local agent to craft a policy that works best for their unique situation.

Additional Oregon home insurance companies to consider

Farmers Insurance

Farmers Insurance

Who this may be best for

Homeowners wanting diverse pre-selected options

Farmers insurance offers all the usual standard policy options that allow you to build a policy that will protect your home. In addition, the company has some nice add-ons, including extended replacement cost, which pays up to 25 percent above your policy limits in a covered claim, and guaranteed replacement cost, which offers coverage for the full cost of repairs no matter what the cost. Other options include building ordinance or law coverage, identity theft, sewer and drain water damage and flood insurance. Although Farmers has an extensive list of agents for you to work with, it also has a mobile app that allows you to manage your policy, report a claim or get a quote. To learn more, read Bankrate’s Farmers review.

Mutual of Enumclaw

Mutual of Enumclaw

Who this may be best for

Homeowners looking for a local company with low rates

Mutual of Enumclaw offers the cheapest home insurance in Oregon, at $323 for a $250,000 dwelling, which is well below the Oregon and national average for home insurance rates. The company only writes policies in a few states in the Pacific Northwest, so it may be appealing to homeowners looking for a company that understands the needs of the region. The company has partnered with Wildfire Defense Systems to offer wildfire protection as part of its policy. Mutual of Enumclaw also offers 24/7 claims service.

How Bankrate chose the best home insurance companies in Oregon

To find the best homeowners insurance companies in Oregon, we reviewed several key metrics of the largest insurance carriers by market share, starting with the average premiums based on data from Quadrant Information Services. We also looked into discounts, coverage options and third-party ratings from J.D. Power’s 2023 U.S. Home Insurance Study and AM Best. The information from this research was analyzed and a Bankrate score was assigned to each of the Oregon homeowners insurance companies. These scores, based on a five-point scale, provide an overall snapshot so you can quickly determine if one provider may be better for your needs versus another.

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Finding cheap home insurance in Oregon

Finding the best homeowners insurance in Oregon is no good if you can't afford it — which is why Bankrate researches the average Oregon home insurance costs to find the carriers who write solid policies at a reasonable price. We recommend you shop around and ask for quotes from several of our highly rated insurance companies to see who will offer you the best price for your property. Back to top Caret Up

Cheapest home insurance companies in Oregon

Although the average cost of the best Oregon home insurance is below national averages, it still pays to shop around to find the lowest possible price for your policy. Most of the companies below, with the exception of State Farm, have average rates that are less than the Oregon state averages. If your top priority is finding cheap coverage, you may want to consider asking for quotes from these companies:

Carrier Monthly premium for $250k coverage Annual premium for $250k coverage Savings vs state avg. for $250k coverage
$42
$507
- $216
Get a quote
$45
$537
- $186
Get a quote
Oregon Mutual
$52
$629
- $94
Get a quote
$52
$629
- $94
Get a quote
$70
$840
+ $117
Read review
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

How Bankrate chose the cheapest home insurance companies in Oregon

We looked at all the major carriers writing policies in the Beaver State, gathering average rates from each, to determine the best cheap home insurance in Oregon. The companies that made the grade received high ratings from third-party organizations that measure financial strength and customer satisfaction, while also offering the cheapest premiums for policyholders.

How to get cheap home insurance in Oregon

If you have a mortgage, then your lender likely requires home insurance. Still, even without a mortgage, these policies can be important. Home insurance can help protect your finances if your home or property is damaged in one of your policy’s named perils. Without home insurance, you’ll be left paying out of pocket for any repairs or replacements your home needs.

  1. Assess your coverage needs: Until you know what you're applying for, it can be hard to do so. Estimate your home insurance needs as the first step. If you want to get a sense of likely costs, then you can start calculating some of your home insurance costs before you even apply for coverage. This two-part step can help you know what coverage to look for while also giving you some idea of expected costs.
  2. Shop around and compare quotes: Experts often recommend shopping around between multiple insurers to see which one will offer you the coverage you need at the most reasonable price. To keep the comparisons between these free estimates valid, selecting the same levels and types of coverage on each quote is vital. It can also be worth checking each insurer's discounts page to see which, if any, discounts you might be eligible for. Discounts are not always included in quotes and some of these savings can have a significant impact on rates.
  3. Select your choice and apply for coverage: Of the quotes you pulled, select your preferred company and apply for a homeowners policy. This can often be done online, over the phone, or in person.

Best home insurance discounts in Oregon

Using discounts can be a great way to save costs on your homeowners insurance premiums. Not all homeowners will be eligible for all discounts and discounts can vary by company and location.

How to save on home insurance policy renewals in Oregon

After you have purchased your policy, there are a number of strategies you can use to keep your premium rate down. Here are a few factors you should consider before it's time to renew your policy:

  • Maintain a good credit rating: Insurers often reward policyholders who have a high credit rating with preferable premium rates. This is because individuals with a high credit rating have a demonstrated ability to pay their bills in full and on time — something that insurers prefer.
  • Install damage mitigation equipment: If you live in an area that sees frequent high winds, for example, installing storm shutters and a damage-resistant garage door could earn you a discount.
  • Keep your roof in good repair: If you have an older roof, consider replacing it. If it's on the newer side, be sure to maintain it properly each year. An old or damaged roof can lead to high-cost claims, and insurers are likely to reward those who take good care of their roofs.
  • Consider a higher deductible: If you can afford it, choosing a deductible that is on the high side is likely to earn you a lower premium rate. Be careful, however, that you choose an amount that you'd be easily able to pay in the case of a claim.
  • Limit claims: If you experience minor damage to your home, think about replacing it on your own without filing a claim, if the cost is not prohibitive. Generally, insurers increase the premiums of those who file frequent claims, so it may not be worth it to submit a claim if you can afford to pay for the damages yourself.
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Understanding home insurance costs in Oregon

It's not hard to find cheap home insurance companies in Oregon, since the average rate in the state is well below the national averages. There may be a number of reasons for this, but one of them is likely to be because the state is not prone to natural disasters such as winter storms or hurricanes. Fewer claims generally means lower premiums, but your own rate will be determined by factors unique to your situation: such as where your home is located, your credit rating and more. Back to top Caret Up

How much is home insurance in Oregon?

The average home insurance cost in Oregon in 2023 is $723 annually for $250,000 in dwelling coverage. This is far below the national average, which is currently $1,428 per year for the same amount of dwelling coverage. One reason for this may be that Oregon experiences less volatile weather conditions, versus other states in the Northwest.

Oregon homeowners insurance rates by city

Even within a single state, insurance rates can vary from city to city. For example, a city that has higher crime rates may see more pricey home insurance than an area where crimes such as vandalism and theft are lower. Weather patterns may also differ from city to city, impacting premium costs.

The five cheapest cities in Oregon for average homeowners insurance rates are Beaverton, Cornelius, Forest Grove, Manning and Corvallis. Just as rates vary between states, they can also differ between cities. That can happen for several reasons — for instance, areas with less crime and fewer natural disasters may have cheaper home insurance rates. Below, you can see the average cost of home insurance coverage in these cities and how they compare to the state average.

  • Beaverton: $650 – 10% below state average
  • Cornelius: $653 – 10% below state average
  • Forest Grove: $660 – 9% below state average
  • Manning: $663 – 8% below state average
  • Corvallis: $670 – 7% below state average

The five most expensive cities in Oregon for average homeowners insurance rates are Unity, Walton, Crescent, Jordan Valley and Boardman. Below, you can see the average cost of home insurance coverage in these cities and how they compare to the state average.

  • Unity: $818 – 13% above state average
  • Walton: $816 – 13% above state average
  • Crescent: $815 – 13% above state average
  • Jordan Valley: $815 – 13% above state average
  • Boardman: $814 – 13% above state average

*Rates are for $250,000 in dwelling coverage.

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Insuring your Oregon home

Climate change and other factors are increasing the level of severe weather across the country, including in Oregon. Policyholders may see an increase in their premium rate to account for this change in weather patterns. It's worth taking the time to understand what your policy does — and doesn't — cover to be sure you will be prepared when bad weather strikes. Back to top Caret Up

What does home insurance cover in Oregon?

The most common type of home insurance policy in the U.S. is called an HO-3 policy. It covers your home in several different ways. Your personal property is covered under a named peril basis, which means that it is protected from damage caused by a standard list of perils, such as fire and winter storms. Your home and other buildings are protected on an open peril basis — meaning you'll be covered for anything that is not specifically excluded from your policy.

Here is a list of what is covered by your basic HO-3 policy:

  • Dwelling coverage: This is the part of your policy that will pay to repair or rebuild your home after a covered peril. It includes the main structure and any attached structures, such as a detached garage.
  • Other structures coverage: This insurance covers detached structures, from sheds and fences to gazebos and detached garages.
  • Personal property coverage: Pays out if your personal property is damaged or destroyed, including furniture, clothing, electronics and appliances.
  • Liability protection: Covers you from the possibility of financial losses if you are found legally responsible for damage or injury to another person or their property while on your land. Also covers legal costs if you are sued.
  • Additional living expenses: If you need to move into a hotel while your home is being repaired, this part of your policy will pay for the costs. It may include everything from laundromat fees to pet boarding.
  • Guest medical payments: Can pay for injuries to a visitor, whether you are determined to be at fault or not.

Additional home insurance coverage types in Oregon

Like other states, Oregon has its own list of potential risks for homeowners, including flooding and earthquake damage. There is also a high risk of wildfires in the state — amongst the highest in the U.S., according to the Insurance Information Institute. Some policyholders may choose to supplement their Oregon homeowners insurance policies by adding coverage, such as flood or earthquake insurance, to provide greater financial protection for these (or other) hazards.

  • Flood insurance: A standard homeowners insurance policy does not cover damage caused by floods. For that, you will need a flood insurance policy. A few companies also offer flood endorsements that you can add to your home insurance policy.
  • Earthquake insurance: Like floods, earthquakes are often not covered automatically on your home insurance policy. You can typically add this coverage by endorsement, but if you are in a high-risk area, you may need a separate earthquake insurance policy.
  • Identity theft coverage: With society becoming increasingly digital, identity theft is becoming more common. This endorsement can help pay for the costs associated with restoring your identity if it is stolen.
  • Debris removal coverage: Your homeowners insurance policy probably covers a base amount of debris removal coverage. However, increasing your limit may be a good idea, as this coverage helps to cover the costs of removing debris from your property after a covered claim.

Related content:

Common Oregon home insurance problems

The home insurance market is changing rapidly in the U.S., adapting to climate change and economic uncertainties. Here are some common issues that Oregon homeowners may have to contend with:

  • Post-pandemic cost hikes: Although COVID-19 is no longer the threat it was several years ago, the nation is still contending with disrupted supply chains and the lack of availability of common home repair items, such as lumber. This may cause home insurance costs to rise as insurers deal with the increased cost of meeting claims.
  • Coverage for specific risks: Not all homeowners insurance policies cover damage for risks such as wildfires or landslides; securing the necessary coverage can be a concern in areas that are prone to these sorts of disasters.
  • Coverage gaps: It's essential to review your policy annually to make sure there are no gaps in your coverage. Flood damage, for example, is not included in HO-3 policies. If you are in an area that sees occasional flooding, you may want to consider a separate flood policy.
  • Rising premium costs: For a number of reasons, premium costs have risen sharply in the past decade. According to a recent CNN report, rebuilding and replacement costs surged 55 percent between 2019 and 2022. Insurers are likely to pass those increases on to policyholders when they renew their policies. Shopping around may help you find more affordable rates, however.

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Recent news in the Oregon homeowners insurance market

A common tool that is available to Oregonians is the Oregon State University's Wildfire Risk Map, which shows areas that have a greater or lesser probability of wildfires. Since wildfires are one of the most common wide-spread disasters seen in the state, the risk map was widely used by insurers when assigning premium rates to homeowners.

As of early May 2023, however, a bill signed into law by Governor Tina Kotek has prohibited insurance companies from using the risk map as a reason to cancel policies or increase premiums. This should benefit new homeowners shopping for policies, especially if they live in areas prone to fires.

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Written by
Mary Van Keuren
Contributor, Insurance

Mary Van Keuren has written for insurance domains such as Bankrate, Coverage.com, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.

Edited by Editor, Insurance
Reviewed by Director of corporate communications, Insurance Information Institute