Oregon Homeowners Insurance Quotes (2023)

If you own a home in Oregon, you can expect to spend about $113 per month on homeowners insurance. The actual cost you pay each month will depend on a few factors, including which insurance provider you choose. Nationwide, Travelers, and Liberty Mutual are some of the best home insurance providers in the state of Oregon. And because homes in Oregon are exposed to many potential perils, including earthquakes, it’s really not a good idea to skip out on homeowners insurance coverage — including extra earthquake coverage.

Here’s what you should consider when purchasing Oregon homeowners insurance.

Best home insurance companies in Oregon

While you can choose from plenty of quality home insurance companies in Oregon, you want to find one that best suits your individual situation and needs. These are the best home insurance companies in Oregon for different categories.

Best large insurer: Nationwide

Nationwide offers the third most-expensive average monthly homeowners insurance rates in Oregon but still manages to charge only $85 a month. If you’re looking for reliable customer experiences, Nationwide earned a J.D. Power score of 816 out of 1,000.^[1]

Best insurer for cheap rates: Kemper Preferred

Kemper Preferred offers a wide variety of insurance products, from home to life to auto, and home insurance customers pay an average monthly premium of only $52. It serves more than 5.3 million policies. Due to an excellent A.M. Best rating, you can rest easy knowing that the company is financially secure and is likely able to pay out future claims.

Best insurer for wildfire coverage: Safeco

Oregon is prone to wildfires, which can cause a lot of damage to homes. Because of this, you may find that Safeco is a good fit, as it provides wildfire coverage. But coverage is expensive, at $312 per month.

Best insurer for high-value homes: Travelers

If you’re looking for insurance for a high-value home, then Travelers may be a good fit, as it offers replacement cost coverage starting at $1 million.

Best regional insurance company: Liberty Mutual

Liberty Mutual can help homeowners tackle a variety of insurance needs in Oregon, including homeowners insurance, which makes a bundling discount possible. Liberty Mutual also helps simplify your insurance by providing online tools that make digitally managing policies easy. And with an average monthly premium of $83, Liberty Mutual is affordable as well.

Methodology

Insurify’s team of data scientists analyze millions of home insurance quotes, and weigh publicly available reviews, claims payout rates, complaint indexes, financial strength scores, company reputations, and proprietary quoting data. Our editorial team applies this insight to inform our unbiased reviews and recommendations.

How much is homeowners insurance in Oregon?

How much you spend on homeowners insurance in Oregon depends on a handful of factors, including your credit score, your home’s location, and even your marital status. Your policy type can also affect how much you spend each month for coverage. Here’s a deeper look at some key components of your policy and their effect on your premiums.

Your policy form

You can generally choose from a few different types of homeowners insurance coverage. The policy type you choose can affect how much you’ll spend, and the general rule of thumb is that the more perils (events that lead to claims) that are covered, the more the policy will cost.

These are some of the most popular policy forms:

• HO-1: Because this is the most basic policy type with only 10 covered perils, it’s usually the most affordable type of coverage.

• HO-2: The next level up, HO-2, comes with 16 covered perils.

• HO-3: An HO-3 policy covers all perils unless any are specifically excluded from coverage.

• HO-5: The most robust type of coverage is HO-5, and it’s a better fit for people who have a lot of expensive personal property.

Learn More: Types of Homeowners Insurance: Which One Do You Need?

Your coverage level

Higher levels of coverage lead to higher levels of spending. Make it a point to regularly check how much coverage you need and the types of coverage necessary to make sure you’re not overspending. For example, if you decide to quit an expensive hobby like woodworking and get rid of all of your equipment, you won’t need as much coverage.

Your deductible

Your deductible is the amount of money you need to pay when filing a claim before your coverage kicks in. A higher deductible puts more of the burden on you and less on the insurer. This will usually result in you having to pay a lower monthly premium.

However, if you decide to choose a high deductible to lower your premium payment, make sure you set some money aside to pay that deductible in case you need to file a claim.

How location affects home insurance rates in Oregon

The location of your home (down to your ZIP code) can affect the cost of your homeowners insurance premiums. This is because your location affects how likely your home is to experience certain natural disasters, like earthquakes. It also takes into account how close your home is to a fire station and the current crime rates in your area.

This table shows how your average monthly quote can change due to the location of your home:

What are the cheapest home insurance companies in Oregon?

The average cost for homeowners insurance in Oregon is $113, but it’s possible to find lower rates. For example, Kemper Preferred ($52), Stillwater ($54), and Travelers ($62) all have significantly lower average monthly premiums.

The following table outlines average monthly quotes from several home insurance companies in Oregon. But remember, your rates may be higher based on your coverage choices.

How much homeowners insurance do you need in Oregon?

While no state or federal law requires homeowners insurance, mortgage lenders usually require their borrowers to have coverage to help protect the home they issued a loan for. Even if you’ve paid off your mortgage or made an all-cash offer, it’s still important to have homeowners insurance to protect you financially should the unexpected occur.

Think carefully about exactly how much coverage you need to help you avoid overspending while also ensuring you have adequate coverage. Any policy you choose will come with a standard amount of coverage. Understanding how that coverage works will help you decide if you need to buy additional coverage.

What home insurance coverages should you buy in Oregon?

Oregon homeowners need to have four basic parts of homeowners insurance, and it’s important to choose the right amount of coverage based on the value of their home and belongings.

• Personal belongings: This provides coverage if your personal belongings are lost, stolen, or damaged.

• Structure of the home: This pays to repair or rebuild the structure of your home after a covered peril occurs.

• Liability protection: This offers protection in the event of a lawsuit due to an injury or property damages that you or a family member is responsible for.

• Additional living expenses: This provides support if damage to the home makes it unlivable during repairs. Additional living expenses coverage can help pay for costs related to living elsewhere, such as staying at a hotel.

What optional home insurance coverages should you buy in Oregon?

The following types of optional coverage can really come in handy if you live in Oregon, according to Mark Friedlander, director of corporate communications at the Insurance Information Institute:

• Flood insurance: “All Oregon homeowners should consider purchasing flood insurance,” Friedlander shares. “With numerous atmospheric river rain events impacting the Pacific Coast throughout the winter of 2022 to 2023, we have seen flooding can occur just about anywhere in the Beaver State. You don’t need to live in a designated FEMA floodplain to have flood risk. In fact, 90% of U.S. natural disasters involve flooding.” You can purchase flood insurance through either the National Flood Insurance Program or dozens of private flood insurers.

• Earthquake coverage: “Oregonians should also consider adding earthquake coverage, as the state is prone to earthquakes,” Friedlander advises. This coverage is not included in a standard home insurance policy. Earthquake insurance also provides coverage for landslides and mudslides. You can typically add earthquake coverage as an endorsement to your standard home policy.

How much home insurance coverage should you have in Oregon?

How much home insurance you need depends on the value of your home and belongings, as well as your risk tolerance. Costs can also vary based on location and current construction material prices. It’s important to shop around before choosing a policy. Compare at least three quotes from different insurance providers to get an idea of which can offer you the most coverage for the best price.

What are some of the biggest risks when owning a home in Oregon?

When you own a home in Oregon, you’ll want to look out for some of these major risks:

• Earthquakes: Oregon is prone to earthquakes, and it takes just one to cause major damage. For example, an earthquake in 1993 led to almost $30 million in damages in Oregon. Earthquake coverage usually comes as a separate policy or an endorsement.

• Fires: In Oregon, 3% of emergency services calls relate to fires, which is why it’s so helpful that a standard homeowners insurance policy covers fire.

• Theft: Where you live in Oregon can put you at great risk of theft. Between December 2021 and December 2022, there were 6,407 instances of burglary just in the city of Portland. Luckily, theft will be covered by your standard homeowners insurance policy.

How can you save money on homeowners insurance in Oregon?

Here are some steps you can take to save a bit of money on your homeowners insurance policy.

Bundle

If your home insurance company also offers other insurance policies, like auto, there’s a good chance it’ll offer you a bundling discount if you purchase multiple policy types. You may be able to save up to 15% off your premium with a bundling discount.

Increase your deductible

The higher your deductible is, the lower your monthly premium will be. Just make sure you choose a deductible you can afford to pay if you do ever need to file a claim.

Seek out discounts

You may also qualify for other discounts, so it’s always worth inquiring about potential opportunities. For example, some homeowners insurance companies offer discounts to people who work from home since they would be more likely to stop a disaster like a fire before it spreads.

Comparison shop

Don’t just accept the first policy you apply for. It’s best to shop around with a few different insurance providers to see which can offer the best rate of the most coverage.

Average home replacement cost in Oregon

If the worst happens and you need to fully rebuild your home, you’ll need a policy that covers the full replacement cost of your home. This is the amount of money it would take to reconstruct your home in the same way it was originally built, with the same materials, but at today’s cost.

To better understand what this can cost, take a look at the average home value in five popular Oregon cities:

Oregon home insurance FAQs