Oregon, a state of the Pacific Northwest, is as diverse as it is beautiful. From its majestic forests to its abundant bodies of water to its numerous volcanoes, Oregon always fills life with surprise and wonderment.  Residents of Oregon know that you must be prepared for natural disasters and other types of home losses by being properly insured.  

Whether you reside in the city hustle and bustle of Portland, the sprawling cattle ranches of Lakeview, or along the scenic biking trails of Prairie City, Insurify makes it easy to compare and find the best value in homeowners insurance. We’ve got you covered!

Let Insurify help you find the best home insurance policy for you and your family. 

How to Get Affordable Home Insurance in Oregon

Buying a home is one of the most important investments a family will ever make, and it does not come without its own set of challenges and risks. Families can relax and enjoy their homes and the beautiful Oregon landscape by taking important steps to reduce risks and protect their home investment. 

One of the most important ways homeowners can protect their property is through homeowners insurance. While you are not legally required to carry homeowners insurance, you wouldn’t want to leave your property and belongings unprotected from risks such as natural disasters and theft. The type of homeowners coverage you will need will vary based on your property type, location, and other factors. 

Keep reading for a full guide on Oregon home insurance

Homeowners Insurance Quotes in Oregon by Company 

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.

As of 2020, the average home insurance premium in Oregon costs $1,218 annually, and the median home value is $319,200. 

That’s a pretty penny. How can you be expected to pay all of these costs (vital as they are) and still provide for you and your family? 

Insurify helps homeowners find the best value in homeowners insurance by comparing quotes in their area. Adjust your desired insurance coverage levels to find the best Oregon homeowners insurance in your area. 

Average Home Cost in Oregon Average Annual Insurance Premium in Oregon
$319,200 $1,218

Homeowners Insurance Quotes in Oregon by City

Like property prices, the average cost of home insurance varies in price from city to city. Pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on our annual premiums. 

Rates in Oregon can be relatively high or low compared to the national average; it all depends on which town you live in. Here are the most and least expensive Oregon ZIP codes in which to insure a home.

Most Expensive Real Estate in Oregon

Cheapest Real Estate in Oregon

Lake Oswego $669,403 Springfield $295,596
West Linn $560,000 Dallas $329,384
Sisters $490,035 Keizer $317,310

 

Cheapest Oregon Home Insurance

Get Coverage

 

What does home insurance cover in Oregon?

There are several types of home insurance. Specific terms of insurance policies may vary by state, but in general, the standard policy types are as follows:

HO-1

Basic

  • The simplest and least comprehensive type of homeowners insurance
  • Provides coverage for a handful of potential problems including
    • natural disasters (storms, fires, wind, lightning, volcanic eruption), 
    • explosions, 
    • theft, 
    • damage from vehicles, 
    • or civil commotion. 
HO-2

Broad Form

  • Broad form homeowners insurance policies include all basic form coverage, plus protection from:
    • falling objects, 
    • damage from the weight of ice, snow, or sleet, 
    • freezing of household systems including HVAC and pipes, 
    • sudden and accidental damage to pipes and other household systems from artificially generated electrical current, 
    • accidental discharge or overflow of water or steam,
    • sudden and accidental damage. 
  • HO-2 policies typically cover both dwelling protection and personal property.
  • In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
HO-3

Special Form

  • The most common form of homeowners insurance is known as a “special form” policy.
  • While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4

Tenant’s Form

  • HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes. 
  • Tenant’s form policies typically cover all the same dangers as HO-2 policies. 
  • These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house. 
  • Some HO-4 policies may also include loss of use coverage for the tenants.
HO-5

Comprehensive

  • Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policies.
  • The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
  • An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy). 
  • HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
HO-6

Condo Form

  • Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies. 
  • They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building. 
  • These policies also include personal property and liability coverage and may include loss of use coverage.
HO-7

Mobile Home Form

  • If you own a mobile home or manufactured home, you likely have an HO-7 policy. 
  • Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
  • Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well. 
  • HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
HO-8

Older Home

  • Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them. 
  • HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes. 
  • Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home to enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.

Wildfires and Home Insurance in Oregon

Homeowners who live in areas frequently affected by wildfires know all too well of the possible devastation to land and property. A wildfire can be started by burning debris, unattended campfires, arson, downed power lines, or even a recklessly discarded lit cigarette. 

According to statistics from the Insurance Information Institute (III), in 2019 there were 2,293 wildfires in Oregon, which burned 79,732 acres of land. Oregon ranks #8 in the top 10 states at high risk of wildfires.

Homeowners insurance can help cover damage to homes and belongings caused by a wildfire. You can expect a homeowners policy to help pay for damage to dwellings, personal property, and landscaping caused by wildfire damage. The amount of coverage you have for wildfire damage will vary based on the level of coverage in your specific homeowners policy.

Oregon residents looking for homeowners coverage to protect against wildfire damage can find competitive home insurance rates using Insurify to help compare home insurance quotes all in one place.

Additional Living Expenses and Home Insurance in Oregon

Whenever your home is damaged and you must leave while repairs take place, you’ll need money to help pay for things such as room and board, food, laundry, and other daily expenses you may incur while living away from home. An Additional Living Expense (ALE) endorsement can be added to a homeowners insurance policy to help Oregon homeowners pay for these costs if it is not already included in the policy. 

Additional living expenses are  important supplemental coverage for Oregon homeowners to have if they are displaced due to wildfires, volcanoes, or some other type of covered natural disaster. Depending on the type of homeowners policy you choose, the level of coverage you have and the cost of that coverage will vary. Give yourself peace of mind and protect your old abode or new home and personal belongings from vandalism and other covered losses with the best homeowners insurance.

Oregon Homeowners Insurance FAQs

Why is home insurance so expensive in Oregon?

Oregon is prone to experiencing severe weather and natural disasters, such as wildfires and volcanoes. With the increase in claims that insurance companies must pay out, the cost of homeowners insurance goes up. Oregon homeowners can find ways to save on homeowners insurance, such as by bundling homeowners and auto insurance together and installing home security devices. Credit score can also impact your home insurance rate. Use Insurify to compare rates and find the best coverage options in your area.

Does USAA insure homes in Oregon?

USAA does insurance homes in Oregon. Oregon policyholders will find some attractive features with USAA home insurance, including identity theft coverage and add-on coverage for valuable personal property. However, USAA only provides home insurance for active-duty military members and their families, those retired from the military, or those honorably discharged from military service.

How long does a home insurance claim take in Oregon?

You want your home insurance claim settled as quickly as possible so you can get back to normal life. There are times when it may take longer than expected for the insurance company to pay a home insurance claim. For example, if there is a natural disaster in the state and many simultaneous claims are filed, it will naturally take adjusters time to inspect all the home damage. You can find a home insurance company in your area with a good claims record by using Insurify to compare coverage options and quotes.

Buying a home is stressful enough—don’t let insuring it get in the way of enjoying your new property.

Special Home Insurance Situations in Oregon

Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Oregon.

Cheapest Home Insurance for Houses Near a Fire Department in Oregon

Insurance Company Average Annual Premium
Allstate $5,376
American Family $2,037
Hanover $3,250
Kingsway America $2,711

Cheapest Home Insurance for Houses Near the Coastline in Oregon

Insurance Company Average Annual Premium
State Farm $1,240
Travelers $810
Unitrin $553
USAA $1,921

Conclusion: How to Find the Cheapest Home Insurance in Oregon

Just like with groceries or clothes, you can find a good bargain on home insurance. With a little research and the right tools, you’ll be on your way to big savings. 

Use Insurify to compare home insurance premiums for your property in Oregon

Compare Oregon Home Insurance Quotes in Two Minutes

See Quotes

 

Browse, compare, and secure home insurance with Insurify today! 

Yep, it’s that easy.  

Updated August 10, 2020

Janet Hunt received her B.S. in Business Administration with the University of Phoenix. She has worked in the insurance industry for over 20 years. Janet likes to spend her spare time coming up with gourmet recipes and trying them out on her guests. So far, all have survived.