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Best homeowners insurance in Oregon for 2023

Based on our research, the best home insurance companies in Oregon include USAA, State Farm and Allstate.

Updated Mar 02, 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. Although only one of these companies has an average rate that is under the $723 state annual average in Oregon, they 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 Grange Insurance Association.

USAA
Rating: 3.7 stars out of 5
3.7
Bankrate Score
Info
AM Best
A++
J.D. Power score
884
/1,000
Average monthly premium
$52
Average annual premium
$629
Get a quote
State Farm
Rating: 3.2 stars out of 5
3.2
Bankrate Score
Info
AM Best
A++
J.D. Power score
829
/1,000
Average monthly premium
$70
Average annual premium
$840
Read review
Allstate
Rating: 3.5 stars out of 5
3.5
Bankrate Score
Info
AM Best
A+
J.D. Power score
815
/1,000
Average monthly premium
$71
Average annual premium
$848
Get a quote
Travelers
Rating: 3.3 stars out of 5
3.3
Bankrate Score
Info
AM Best
A++
J.D. Power score
794
/1,000
Average monthly premium
$42
Average annual premium
$507
Get a quote
Grange
Rating: 2.8 stars out of 5
2.8
Bankrate Score
Info
AM Best
B++
J.D. Power score
Not rated
Average monthly premium
$41
Average annual premium
$493
Get a quote
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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.

The top 5 home insurance companies in Oregon

Best for military-focused coverage

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

Average annual premium

$ 629 for $250k dwelling
USAA Review

Explore Bankrate's review

Why USAA made our list: USAA is not eligible for official ranking with J.D. Power because it only sells insurance to current and retired military members 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.

Best for online resources

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

Average annual premium

$ 840 for $250k dwelling
State Farm Review

Explore Bankrate's review

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.

Best for personalized coverage

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

Average annual premium

$ 848 for $250k dwelling
Allstate Review

Explore Bankrate's review

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.

Best for low average rates

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

Average annual premium

$ 507 for $250k dwelling
Travelers Review

Explore Bankrate's review

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.

Best for local agents

Rating: 2.8 stars out of 5
2.8 Bankrate Score
JD Power: Not rated AM Best: B++

Average annual premium

$ 493 for $250k dwelling
Grange Insurance Association Review

Explore Bankrate's review

Why Grange Insurance Association made our list: Grange Insurance Association specializes in coverage for homeowners in six states, including Oregon. With an average premium well below the state’s average, the company could be a good fit if you are primarily concerned with budget and you enjoy working with a local agent. As a mutual company, Grange Insurance Association is designed to serve its policyholders. Optional coverage includes water backup, recreational vehicle and farm liability.

Who Grange Insurance Association may be good for: Grange Insurance Association may be a good fit for homeowners in Oregon that want to work with local agents in a brick and mortar office.

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 2022 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.

How much is home insurance in Oregon?

The average cost of homeowners insurance in Oregon in 2022 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.

$150K
$510
$250K
$629
$350K
$731
$450K
$823
$750K
$1,078
$150K
$597
$250K
$840
$350K
$1,025
$450K
$1,266
$750K
$1,979
$150K
$736
$250K
$848
$350K
$985
$450K
$1,161
$750K
$1,792
$150K
$338
$250K
$507
$350K
$684
$450K
$862
$750K
$1,486
$150K
$314
$250K
$493
$350K
$677
$450K
$866
$750K
$1,439
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Advertising Disclosure
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.

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, including local costs and availability or repairs, local frequency of traffic accidents, local road conditions and more. 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. These cities may have higher average rates due to higher crash frequencies, more expensive labor and parts for car repairs, higher population densities and more. 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

How to find the best cheap home insurance in Oregon

If you’re on 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: Before applying for a policy, you’ll want to know how much coverage, and what types, you need. Consider using a home insurance coverage calculator to determine what level of coverage your home needs.
  2. Shop around and compare quotes: It may also be helpful to apply for free quotes from several home insurance companies that service your area. Be sure to specify the same levels and types of coverage with each company in order to accurately compare the options. Once you have the quotes, compare them and see which companies offer you the best rates and potential discounts.
  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.

Common 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.

Home insurance coverage types in Oregon

Like other states, Oregon has its own list of potential risks for homeowners. This includes fires, flooding and earthquake damage, although the numbers are not too significant. However, 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.

Frequently asked questions

Written by
Joshua Cox-Steib
Insurance Contributor

Joshua Cox-Steib has two years of experience in writing for insurance domains such as Bankrate, Coverage.com, The Simple Dollar, Reviews.com, and more. His work has also been featured on such sites as MSN and BBB (Better Business Bureau). His insurance writing career has spanned across multiple product lines, with a primary focus on auto insurance, life insurance, and home insurance.

Edited by Insurance Editor
Reviewed by Assistant Vice President & Claims Field Manager