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Best homeowners insurance in Oregon for 2024

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

Updated Mar 14, 2024
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Compare the best homeowners insurance companies in Oregon

Based on our research, USAA, State Farm and Allstate offer some of the best Oregon homeowners insurance. In choosing the companies below, Bankrate considered each insurer’s coverage options, discount opportunities, customer satisfaction, digital tools and more. Below, we’ve outlined our findings, including up-to-date average quoted premiums from Quadrant Information Services.

Insurance company
Bankrate Score
Info
Average monthly premium Average annual premium*
4.7
Rating: 4.7 stars out of 5
$71
$856
4.2
Rating: 4.2 stars out of 5
$87
$1,043
4.2
Rating: 4.2 stars out of 5
$88
$1,061
4.2
Rating: 4.2 stars out of 5
$57
$681
4.1
Rating: 4.1 stars out of 5
$54
$643
*Average rates are for annual policies with $250,000 in dwelling coverage
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Read our full methodology

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.

46

years of industry expertise

122

carriers reviewed

20.7K

ZIP codes examined

1.2M

quotes analyzed

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The top 5 home insurance companies in Oregon

Best for military-focused coverage

USAA

4.7

Rating: 4.7 stars out of 5

Avg. premium for $250K dwelling

$71/mo

Avg. premium for $250K dwelling

$856/yr

Customer satisfaction

881/1,000

Best for online resources

State Farm

4.2

Rating: 4.2 stars out of 5

Avg. premium for $250K dwelling

$87/mo

Avg. premium for $250K dwelling

$1,043/yr

Customer satisfaction

829/1,000

Best for personalized coverage

Allstate

4.2

Rating: 4.2 stars out of 5

Avg. premium for $250K dwelling

$88/mo

Avg. premium for $250K dwelling

$1,061/yr

Customer satisfaction

809/1,000

Best for endorsement add-ons

American Family

4.2

Rating: 4.2 stars out of 5

Avg. premium for $250K dwelling

$57/mo

Avg. premium for $250K dwelling

$681/yr

Customer satisfaction

813/1,000

Best for low average rates

Travelers

4.1

Rating: 4.1 stars out of 5

Avg. premium for $250K dwelling

$54/mo

Avg. premium for $250K dwelling

$643/yr

Customer satisfaction

790/1,000

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.

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 some of the cheapest home insurance in Oregon. 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. Mutual of Enumclaw has partnered with Wildfire Defense Systems to offer wildfire protection as part of its policy. The company 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 that offer solid policies for a reasonable price. We recommend you shop around and ask for quotes from several of the highly rated insurance companies listed below to see which offers you the best price for your coverage needs. Back to top Caret Up

Cheapest home insurance companies in Oregon

Although the average cost of Oregon home insurance is below the national average, it still pays to shop around to find the lowest possible price for your policy. 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
Mutual of Enumclaw
$37
$439
- $515
$54
$643
- $311
$57
$681
- $273
$71
$856
- $98
$87
$1,043
+ $89

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, home insurance coverage can offer financial protection for one of your most important assets. Without homeowners insurance, you’ll be left paying out of pocket for any repairs or replacements your home requires in the wake of what might’ve otherwise been a covered incident.

  1. Assess your coverage needs: Gauging your home insurance needs is the first step. If you want to get a sense of what you might pay, you can start by using a home insurance estimation tool before you even apply for coverage.
  2. Shop around and compare quotes: Experts recommend shopping around with multiple insurers to see which will offer you the coverage you need at the most reasonable price. To keep the comparisons valid, select the same levels and types of coverage for each quote (or as similar as possible). It can also be worth checking each insurer's discount availability 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 on your homeowners insurance premiums. Not all homeowners will be eligible for all discounts and discounts can vary by company and location.

Many insurers will offer discounts to homeowners who protect their property with devices and systems to warn and guard against fires and burglaries.
Insurers often provide discounts to customers who purchase more than one type of policy through them, like home and auto.
Some insurers will offer discounts for homeowners who disaster-proof their homes with protective items like storm shutters.
Insurers may offer discounts on homes that have recently had their roofs replaced.

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 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 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 value.
  • 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. 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 damage yourself.
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Understanding home insurance costs in Oregon

Home insurance rates vary based on several factors, including characteristics specific to you and your home. However, other factors are out of your control — like weather and environmental disasters. Controlling what you can means keeping your finances in good standing and keeping up with home maintenance. Back to top Caret Up

How much is home insurance in Oregon?

The average home insurance cost in Oregon is $954 annually for $250,000 in dwelling coverage. This is far below the national average, which is currently $1,759 per year for the same amount of dwelling coverage. One reason for this may be that Oregon typically 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.

  • Beaverton: $854 per year — 10 percent below state average
  • Cornelius: $857 per year — 10 percent below state average
  • Forest Grove: $863 per year — 9 percent below state average
  • Manning: $869 per year — 9 percent below state average
  • Corvallis: $874 per year — 8 percent below state average
  • Unity: $1,104 per year — 16 percent above state average
  • Jordan Valley: $1,100 per year — 15 percent above state average
  • Chiloquin: $1,098 per year — 15 percent above state average
  • Drewsey: $1,094 per year — 15 percent above state average
  • Sprague River: $1,091 per year — 14 percent 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 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 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.

!

Recent news in the Oregon homeowners insurance market

Beginning in 2024, new Oregon state laws require greater transparency from home insurance providers if they raise rates or cancel policies for homeowners affected by wildfires. The new legislation also mandates that home insurance companies must consider fire prevention methods when setting rates. Additionally, if a home was burnt in a fire, homeowners are now required to receive some level of compensation for their destroyed property even if they are unsure of the exact value, and rebuild periods have been extended to three years.

Frequently asked questions

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