How Much Is Flood Insurance in Oregon? Average Flood Insurance Cost and Coverage


Updated: October 3, 2024

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Flood insurance isn’t included in standard homeowners and renters insurance. You need to get a separate policy to be financially protected from flood damage. Premiums are usually determined by a mix of location and individual property risks, including your home’s structure and elevation.

Since Oregon has multiple flood-prone areas, it’s best to check a local flood map to see if your house is within one. It’s also advisable to get flood insurance for an added layer of protection. According to the Federal Emergency Management Agency (FEMA), even an inch of water can cost you up to $25,000 in flood damage.

Insurance companies charge higher premiums to those living in high-risk flood zones in Oregon.

Private insurance companies are ideal for households outside an NFIP community and those that find NFIP coverage lacking.

Flood insurance covers the cost of damages to physical structures, such as foundation walls, electrical and plumbing systems, built-in furniture and permanent carpets.

Average Cost of Flood Insurance in Oregon

On average, the cost of flood insurance in Oregon is $970 per year. However, rates can vary based on flood-prone areas and individual property risks. Policyholders within moderate- or high-risk flood zones tend to have higher insurance costs.

Average Cost of Flood Insurance by County in Oregon

Compared to the national average for flood insurance, the average cost in Oregon is $203 more expensive. This is likely because there are more flood-prone areas in the state.

Based on MoneyGeek’s study, Deschutes County has the cheapest premiums at $645 per year, while Coos County has the most expensive at $1,829 per year. Check the table below for each Oregon county’s average flood insurance rates.

Oregon Flood Insurance Cost per County
BAKER COUNTYAverage Cost$874
BENTON COUNTYAverage Cost$1,209
CLACKAMAS COUNTYAverage Cost$1,250
CLATSOP COUNTYAverage Cost$818
COLUMBIA COUNTYAverage Cost$1,014
COOS COUNTYAverage Cost$1,829
CROOK COUNTYAverage Cost$1,105
CURRY COUNTYAverage Cost$747
DESCHUTES COUNTYAverage Cost$645
DOUGLAS COUNTYAverage Cost$1,042
GILLIAM COUNTYAverage Cost$971
GRANT COUNTYAverage Cost$1,098
HARNEY COUNTYAverage Cost$1,121
HOOD RIVER COUNTYAverage Cost$863
JACKSON COUNTYAverage Cost$832
JEFFERSON COUNTYAverage Cost$1,185
JOSEPHINE COUNTYAverage Cost$980
KLAMATH COUNTYAverage Cost$924
LAKE COUNTYAverage Cost$811
LANE COUNTYAverage Cost$990
LINCOLN COUNTYAverage Cost$799
LINN COUNTYAverage Cost$1,124
MALHEUR COUNTYAverage Cost$1,226
MARION COUNTYAverage Cost$1,044
MORROW COUNTYAverage Cost$1,119
MULTNOMAH COUNTYAverage Cost$663
POLK COUNTYAverage Cost$869
SHERMAN COUNTYAverage Cost$895
TILLAMOOK COUNTYAverage Cost$806
UMATILLA COUNTYAverage Cost$1,157
UNION COUNTYAverage Cost$1,008
WALLOWA COUNTYAverage Cost$1,149
WASCO COUNTYAverage Cost$955
WASHINGTON COUNTYAverage Cost$1,266
WHEELER COUNTYAverage Cost$968
YAMHILL COUNTYAverage Cost$1,083

Companies That Offer Flood Insurance in Oregon

You can get flood insurance from the NFIP, but you can also purchase a policy from a private insurer. Private insurance companies have a base policy (similar to an NFIP policy) and an excess policy (supplemental coverage for a base policy). They are a good option for households outside an NFIP community or those not sufficiently covered by NFIP coverage.

Private Flood Insurance Providers in OR and Their Contact Numbers
Company
Contact

Neptune Flood

727-202-4815

Aon Private Flood

888-281-0684

Hiscox - FloodPlus

866-283-7545

FloodSimple Insurance Services

844-803-8788

Chubb

866-324-8222

The NFIP has partner companies in Oregon that provide coverage against flood damage. In the table below, MoneyGeek enumerates NFIP-participating insurance providers and their respective contact numbers.

NFIP-Participating Flood Insurance Providers in State and Their Contact Numbers
Company
Contact

Allstate Insurance Company

(800) 527-2634

American Commerce Ins. Co.

(800) 562-4517

American Family Mutual Ins. Co

(800) 692-6326

American Nat. Prop. & Casualty

(417) 887-4990

American Strategic Ins. Corp.

(866) 274-8765

Assurant

(800) 423-4403

Auto Owners Insurance Co.

Refer to the Agent locator

Farmers Insurance Group

(866) 865-2965

How to Purchase Flood Insurance and Its Coverage Requirements

Buying flood insurance is often easy because there are no special requirements. You just need to call the NFIP hotline (877-336-2627) or your home insurance agent to get started.

It’s worth noting, however, that you’ll have to wait 30 days for an NFIP policy to take effect, so it’s best to get coverage as soon as possible. On the other hand, private insurance companies in Oregon can have a 10-day waiting period. Call your insurance agent to confirm.

What Does Flood Insurance Cover in Oregon?

It’s important to remember that even one inch of water in your home can cost you $25,000 in flood damage. Flood insurance can cover the cost of repairing or replacing your building structure and personal properties.

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Keep in mind that flood insurance coverage only applies to flooding caused by a natural phenomenon or weather event. Its coverage doesn’t extend to flooding created by unnatural water damage, like broken pipes or leaky appliances.

Flood insurance covers damages to personal belongings and building structures. This means swimming pools, decks, patios, landscaping, cash, paperwork and basement items are excluded. Likewise, it won’t offer coverage for vehicle flooding.

Flood Insurance Building Coverage

Standard flood insurance has building coverage, which covers the damages to your home structure, including:

  • Foundation walls
  • Electrical systems
  • Plumbing systems
  • Furnaces, central heating and air conditioning
  • Built-in appliances
  • Permanent carpets
  • Built-in furniture

Note that the building coverage limit for an NFIP policy is $250,000.

Flood Insurance Contents Coverage

Contents coverage is also included in basic flood insurance policies, protecting items such as:

  • Clothing
  • Furniture
  • Electronic equipment
  • Washers and dryers
  • Artwork

With a policy from the NFIP, you can purchase up to $100,000 in contents coverage.

Factors That Affect Flood Insurance Costs in Oregon

Flood insurance rates were previously determined based on your location on the flood map. FEMA’s website has a digital map you can use to check the flood risk of U.S. counties in every state.

According to FEMA’s Oregon data, Sherman County has had the fewest number of flooding events (two) since 1996. Meanwhile, Coos County has experienced the most at 54. On average, flood insurance costs $895 per year in Sherman County and $1,829 per year in Coos County.

Risk Rating 2.0

In October 2021, FEMA introduced Risk Rating 2.0. Unlike the older pricing method, this new system calculates flood insurance rates based on individual property risks, such as foundation type, dwelling structure, elevation, replacement and repair costs, flood frequency and distance to bodies of water.

Since it doesn’t solely rely on a flood map, Risk Rating 2.0 is expected to provide fairer and more accurate premiums. That said, your location still plays a significant role in your flood insurance costs. Learn more about the flood insurance factors in the list below.

    building icon

    Flood Risk

    Those within moderate- or high-risk flood zones may pay more expensive premiums. That said, you and your neighbor may have different rates because Risk Rating 2.0 considers individual property risks, as well.

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    Coverage Type

    The amount of coverage you get can influence your insurance costs. Opting for more comprehensive coverage usually increases your premiums. The coverage you get will also vary depending on your Oregon county.

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    Deductible

    Deductibles typically range from $1,000 to $10,000. Choosing a higher deductible can lower your premium, but you’ll be responsible for paying this amount when making a claim.

    garage icon

    Age of Structure

    Insurance companies consider the age of your home when calculating rates. You may get a more expensive premium if you live in an older structure.

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    Structure Design

    Aside from age, your home’s building materials and structural design factor into your flood insurance rate.

Do You Need Flood Insurance in Oregon?

Every property can be vulnerable to flooding. Thus, it’s wise to purchase flood insurance, even if you live in a low-risk flood zone. Meanwhile, those with mortgages in high-risk or moderate-risk flood zones are required to purchase a policy.

Flood insurance isn’t included in homeowners or renters insurance. You can get coverage from the NFIP or a private company. Flood insurance providers will pay claims even without a presidential disaster declaration. They also offer more compensation than federal assistance. By contrast, federal disaster grants are limited to $5,000 per household.

Ultimately, flood insurance can assure you that your most important investment is financially protected against flood damage.

Frequently Asked Questions About Oregon Flood Insurance

Below, MoneyGeek answered some frequently asked questions to help you get flood insurance in Oregon.

What is the average cost of flood insurance in Oregon?
Which companies offer flood insurance in Oregon?
What kind of damage does flood insurance cover?
What affects flood insurance rates in Oregon?

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.


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