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The 5 Best Homeowners Insurance Companies in Oregon

It would help if you considered various company-related factors to determine what company has the best homeowners insurance in Oregon for you. While the cost of an annual premium is important, you should also look into the coverage options, a company’s ability to pay claims, its customer service and customer complaints.

To help you get started, MoneyGeek ranked the top five insurance carriers in Oregon based on affordability, J.D. Power’s customer satisfaction scores and AM Best’s financial stability ratings.


1

FarmersScore: 94

5/5

Affordability

4.6/5

User Satisfaction

4/5

Financial Stability


If you are looking for cheap home insurance in Oregon, consider Farmers. The company allows policyholders to customize their plans. Aside from the standard policy, you can increase personal property limits and adjust replacement payment. Farmers has an online rate calculator, an online bills payment option, an online claims application tool, a household inventory tool and a mobile app.

Read MoneyGeek's Farmers Home Insurance Review

2

TravelersScore: 92

4.9/5

Affordability

3.9/5

User Satisfaction

5/5

Financial Stability


Travelers’ policyholders have the freedom to bundle coverage options to save money on their insurance plans. They can get standard coverage or choose a comprehensive policy by adding optional coverages. Bundling Travelers home insurance and auto insurance policies may result in additional discounts. Customers can make transactions anywhere with Travelers’ online bills payment option, online claims application tool, rate calculator and mobile app.

Read MoneyGeek's Travelers Home Insurance Review

3

NationwideScore: 91

4.7/5

Affordability

4.3/5

User Satisfaction

4.5/5

Financial Stability


Nationwide allows customers to build customized homeowners insurances based on their needs. Customers can add optional coverages for a more comprehensive policy, such as replacement cost plus, equipment breakdown, roof replacement, earthquake, and identity theft or fraud insurance. Oregon homeowners have access to various discounts. Customers can easily access the company’s services through the online rate calculator, online bills payment tool and the mobile app.

Read MoneyGeek's Nationwide Home Insurance Review

4

American FamilyScore: 89

4.8/5

Affordability

4.2/5

User Satisfaction

4/5

Financial Stability


American Family allows customers to choose from its three basic insurance options. Customers can customize their policy and add optional coverages like sewer back-up and pump overflow coverage along with identity theft protection. If you own a smart home or have a home security system, you can qualify for a 5% discount. The company also offers discounts if you bundle your policies. Oregon homeowners can opt to pay directly from their bank accounts or make a full payment instead of making them monthly. American Family has an online quote tool, a home insurance calculator, a personalized coverage assistant and a home inventory worksheet.

5

USAAScore: 88

3.9/5

Affordability

5/5

User Satisfaction

5/5

Financial Stability


Active military members, veterans and their families can enjoy affordable policies from USAA. If you bundle your coverage options with USAA, you may qualify for discounts. You can also complete most transactions using the USAA mobile app.

What Is the Average Cost of Homeowners Insurance in Oregon?

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$0

home insurance is 0.0% more than the average.

Oregon homeowners pay an average of $811 per year for a dwelling coverage baseline amount of $250,000. That is around $1,292, or 61.4%, less than the country’s national average, which is $2,103. Insurance companies estimate homeowners insurance in Oregon by evaluating all risks associated with an individual and various factors related to the area, such as the crime rate, property values and weather conditions.

Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in Oregon

Other factors that insurers use to estimate homeowners insurance in Oregon are the value of your property, roof quality, property location, proximity to a fire department, value of personal property, whether you have a pool, whether you own an aggressive dog breed and deductible chosen.

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Home Insurance Calculator

State

Oregon

Dwelling Coverage

$250,000

Deductible

$500

Liability

$300,000

Personal Property

$150,000

Credit Score

Excellent
moneygeek-logo

low end

on average

high end

These are annual estimates. Get a personalized quote to determine your costs.

The Cheapest Homeowners Insurance Quotes in Oregon

Typically, homeowners insurance in Oregon is cheap since the state average is less than half the national average annual premium. Farmers policyholders have the most affordable option. The company offers a policy that may cost an average of $545 for a dwelling coverage baseline. That amount is 32.8%, or $266, lower than the state average.

The dwelling coverage is a feature in homeowners insurance in Oregon that covers the cost of repairs or rebuilding if a covered hazard damages your home’s physical structure. The dwelling coverage baseline amount in Oregon is $250,000. To get the most accurate policy and annual premium, compare personalized quotes from multiple insurance companies.

Cheapest Homeowners Insurance by Dwelling Coverage

Dwelling Coverage:

$250,000
Company
Amountper year
1. Farmers
In 2020, Farmers ranked #1 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Oregon.
$545
2. Travelers
In 2020, Travelers ranked #2 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Oregon.
$597
3. American Family
In 2020, American Family ranked #3 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Oregon.
$634
4. Nationwide
In 2020, Nationwide ranked #4 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Oregon.
$644
5. MetLife
In 2020, MetLife ranked #5 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Oregon.
$780

Best Cheap Homeowners Insurance Companies for Expensive Homes

Looking for the best homeowners insurance in Oregon for expensive homes requires additional costs and will likely not be as cheap as the average home insurance options. For example, the most affordable option for a $2 million home in Oregon is USAA, with an average annual premium of $2,502. If you do not qualify for a USAA policy, your next cheapest option is American Family. A similar policy with American Family may cost an average of $2,764. If you want to find the most appropriate policy for your property, you will have to get personalized quotes from various insurers.

Cheapest Homeowners Insurance Companies for High-Value Homes
Company
Amountper year
1. USAA
In 2020, USAA ranked #1 in Oregon for the cheapest homeowners insurance for high-value homes.
$2,502
2. American Family
In 2020, American Family ranked #2 in Oregon for the cheapest homeowners insurance for high-value homes.
$2,764
3. Farmers
In 2020, Farmers ranked #3 in Oregon for the cheapest homeowners insurance for high-value homes.
$2,806
4. Nationwide
In 2020, Nationwide ranked #4 in Oregon for the cheapest homeowners insurance for high-value homes.
$3,449
5. Allstate
In 2020, Allstate ranked #5 in Oregon for the cheapest homeowners insurance for high-value homes.
$4,692

Best Homeowners Insurance Companies if You Have a Pool

If you own a pool, your coverage needs will likely be more than what a standard policy can offer. That means that your annual premium will also be different. MoneyGeek’s research found that the most affordable option for Oregon pool homes with an average dwelling cost of $250,000 is Travelers, which offers an average annual premium of $561. Depending on the insurance company, the cost may be much more than that. For instance, a similar policy with USAA may cost an average of $1,065. Adding liability coverage can protect you in case a pool accident in your property causes injuries.

Cheapest Homeowners Insurance for Pool Home
Company
Amountper year
1. Travelers
In 2020, Travelers ranked #1 in Oregon for the cheapest homeowners insurance for homes with a pool.
$561
2. Farmers
In 2020, Farmers ranked #2 in Oregon for the cheapest homeowners insurance for homes with a pool.
$563
3. American Family
In 2020, American Family ranked #3 in Oregon for the cheapest homeowners insurance for homes with a pool.
$622
4. Nationwide
In 2020, Nationwide ranked #4 in Oregon for the cheapest homeowners insurance for homes with a pool.
$626
5. Allstate
In 2020, Allstate ranked #5 in Oregon for the cheapest homeowners insurance for homes with a pool.
$749

Cheapest Home Insurance in Oregon if You Have Poor Credit

Insurance companies also take into consideration the credit score of a homeowner. Generally, individuals who have poor credit get higher annual premiums. So, if you think you have poor credit, you may have to start improving it by paying off any outstanding credit card debts and maintaining a utilization rate below 30%.

Some insurance carriers in Oregon offer policies that are specifically designed for homeowners with poor credit. The cheapest option will likely be Nationwide, which offers a policy that may cost an average of $1,098 per year for a dwelling coverage baseline amount of $250,000.

Cheapest Homeowners Insurance for Poor Credit
Company
Amountper year
1. Nationwide
In 2020, Nationwide ranked #1 for the cheapest homeowners insurance for owners with poor credit in Oregon.
$1,098
2. Country Financial
In 2020, Country Financial ranked #2 for the cheapest homeowners insurance for owners with poor credit in Oregon.
$1,289
3. American Family
In 2020, American Family ranked #3 for the cheapest homeowners insurance for owners with poor credit in Oregon.
$1,289
4. Travelers
In 2020, Travelers ranked #4 for the cheapest homeowners insurance for owners with poor credit in Oregon.
$1,460
5. MetLife
In 2020, MetLife ranked #5 for the cheapest homeowners insurance for owners with poor credit in Oregon.
$1,900

How to Get Homeowners Insurance Quotes in Oregon

To find out how much your homeowners insurance in Oregon will be, you may need to provide some basic information about yourself like your name, address, contact information and social security number. Insurance companies may also ask you pieces of information related to your property, such as the your home’s current value, the cost of all belongings inside it, how old the home is, the type of home that you have, the materials used in building it, its current condition and an estimate of how much it may cost if it needs rebuilding.

If you have any safety features in place, like a home security system, you will want to inform the insurance provider because these will have an impact on your annual premium.

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Other Considerations for Homeowners Insurance in Oregon

You should be aware of natural disaster risk factors in your area. Find out if certain hazardous weather conditions could strike your community. You may have to add certain coverages to make sure you are prepared for any emergency.

For instance, Oregon ranks 9th in the nation when it comes to wildfires. Approximately 151,400 properties are at risk of wildfire damage.

Crime rates also play a role in determining how much your homeowners insurance in Oregon will be. The state ranked 8th in the country in the FBI’s 2018 report. Oregon recorded 11,966 violent crimes and 121,278 property crimes.

As for the cost of homes, Oregon has the 7th most expensive average cost in the country. Oregon homeowners have an average home value of $361,970.


Do You Need Flood Insurance in Oregon?This is an icon

Around 13.9% of Oregon properties, or approximately 268,000, are at risk of flooding in 2020. The state ranks 9th in the nation when it comes to the areas with the highest risk of flooding. To get flood insurance, check if your community participates in the government-sponsored National Flood Insurance Program (NFIP) coverage.

Do You Need Hail Insurance in Oregon?This is an icon

While Oregon ranks 42nd in terms of hail incidents, the state still experiences an average of 10 hail events annually. So, getting hail damage coverage may be necessary to protect your Oregon home.

Methodology

MoneyGeek analyzed homeowners insurance premiums from 16 of the top insurance companies in Oregon that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Oregon. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.

Sources