Cheapest Homeowners Insurance in Oregon (2024 Rates)


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ByMark Fitzpatrick
Edited byCasie McCoskey
ByMark Fitzpatrick
Edited byCasie McCoskey

Updated: May 22, 2024

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In Oregon, Capital Insurance Group dominates the home insurance market, offering the most affordable policies for a variety of needs, including insuring high-value and new homes. However, Nationwide stands out as the best choice for homeowners with low credit scores, providing tailored solutions for prospective policyholders. Meanwhile, State Farm shines with its budget-friendly bundles and is the cheapest provider for homeowners with a recent claim history.

MoneyGeek Logo IconCheapestHome InsuranceOregon
2024

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Why Trust MoneyGeek? MoneyGeek used information from the Oregon Division of Financial Regulation and Quadrant Information Services to obtain data on insurance rates, discounts and more.

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These rates reflect the cheapest home insurance quotes in Oregon as of 2024.

Overall Cheapest Homeowners Insurance in Oregon

Capital Insurance Group ranks as the most affordable overall provider in Oregon, with annual premiums for $100K in dwelling coverage averaging $438. Remember, home insurance rates can drastically fluctuate based on your dwelling coverage.

Here's a snapshot of the cheapest rates:

  • Cheapest for $100,000: Capital Insurance Group at $438 per year
  • Cheapest for $250,000: Capital Insurance Group at $614 per year
  • Cheapest for $500,000: Capital Insurance Group at $883 per year

Explore a range of cheap home insurance options with MoneyGeek's table to see how rates change with dwelling coverage.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Capital Insurance GroupAnnual Premium$438
NationwideAnnual Premium$457
American FamilyAnnual Premium$539
FarmersAnnual Premium$590
State FarmAnnual Premium$606
AllstateAnnual Premium$911
COUNTRY FinancialAnnual Premium$1,028

Compare Oregon Home Insurance Quotes Online

In Oregon, obtaining budget-friendly home insurance is best done by comparing quotes from a range of providers. MoneyGeek’s home insurance calculator offers Oregon quotes in a user-friendly way without the need to submit personal information first.

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Jun 13, 2024

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California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000
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User Info
California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000

Cheapest Home Insurance in Oregon for High-Value Homes

In Oregon, the most affordable home insurance for high-value homes comes from Capital Insurance Group. It offers average premiums as low as $1,144 per year for $750K in dwelling coverage. The price of dwelling coverage, a key cost driver, is often higher for high-value homes. Here's a quick look at the cheapest available options:

  • Cheapest for $750,000: Capital Insurance Group at $1,144 per year
  • Cheapest for $1,000,000: Capital Insurance Group at $1,365 per year

We recommend homeowners buy dwelling coverage for their home's rebuilding cost, not property value. Use MoneyGeek's table below to see cost variations by dwelling coverage for higher-value houses.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
Capital Insurance GroupAnnual Premium$1,144
American FamilyAnnual Premium$1,877
NationwideAnnual Premium$2,066
State FarmAnnual Premium$2,514
AllstateAnnual Premium$2,558
FarmersAnnual Premium$2,652
COUNTRY FinancialAnnual Premium$4,224

Cheapest Home Insurance in Oregon for New Homes

Oregon's most affordable home insurance for new homes with $100K in dwelling coverage is Capital Insurance Group, at an average annual premium of $244. Due to newer homes in Oregon providing less risk with up-to-date wiring, plumbing and a structurally sound foundation, they are generally cheaper to insure.

Capital Insurance Group is the most affordable provider in Oregon for policyholders with new homes across varying coverage levels. Check out its rates below:

  • Cheapest for $100,000: Capital Insurance Group at $244 per year
  • Cheapest for $250,000: Capital Insurance Group at $356 per year
  • Cheapest for $500,000: Capital Insurance Group at $508 per year

To further understand how prices vary for a new home by dwelling coverage, take a look at the table on MoneyGeek.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Capital Insurance GroupAnnual Premium$244
NationwideAnnual Premium$247
American FamilyAnnual Premium$354
State FarmAnnual Premium$373
FarmersAnnual Premium$433
COUNTRY FinancialAnnual Premium$620
AllstateAnnual Premium$830

Cheapest Home Insurance in Oregon for Low Credit Scores

In Oregon, Nationwide provides the most affordable home insurance for homeowners with poor credit at an annual average of $779 for $100K in dwelling coverage. Insurers evaluate credit scores as they indicate the potential risk of the policyholder defaulting on payments.

  • Cheapest for $100,000: Nationwide at $779 per year
  • Cheapest for $250,000: Capital Insurance Group at $1,171 per year
  • Cheapest for $500,000: Capital Insurance Group at $1,684 per year

The cost effect of poor credit is evident when comparing average home insurance costs — $1,765 per year for poor credit homeowners versus $653 for those with good credit, both for $100K in dwelling coverage. Examine our table below for the cost variation for different credit scores by dwelling coverage.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
NationwideAnnual Premium$779
Capital Insurance GroupAnnual Premium$836
American FamilyAnnual Premium$938
State FarmAnnual Premium$1,360
COUNTRY FinancialAnnual Premium$1,827
AllstateAnnual Premium$2,074
FarmersAnnual Premium$4,540

Cheapest Home Insurance in Oregon With a Claims History

State Farm offers the cheapest home insurance in Oregon for homeowners with one policy claim in the past five years, costing $624 per year for $100K in dwelling coverage. Homeowners with a previous claims history will likely pay more for future claims since insurers view them as higher risk.

Here are the most affordable options for different coverage levels, all for owners with one claim within the past five years and homes built in 2000:

  • Cheapest for $100,000: State Farm at $624 per year
  • Cheapest for $250,000: Capital Insurance Group at $967 per year
  • Cheapest for $500,000: Capital Insurance Group at $1,390 per year

For policyholders with no claims in the last five years, the average cost of home insurance is $305 less per year compared to those with two claims, indicating that maintaining a minimal claims record can significantly reduce your premium. Such savings are particularly valuable in Oregon, allowing homeowners to manage their insurance costs more effectively.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
State FarmAnnual Premium$624
NationwideAnnual Premium$634
American FamilyAnnual Premium$680
Capital Insurance GroupAnnual Premium$690
FarmersAnnual Premium$703
AllstateAnnual Premium$1,258
COUNTRY FinancialAnnual Premium$1,298

Cheapest Home Insurance in Oregon by Home and Roof Materials

Your home's construction and roof materials directly impact the cost of home insurance premiums. In Oregon, the most affordable provider for a home with frame-type construction and a shake-treated roof is Capital Insurance Group, which has an average annual premium of $439. Frame construction and shake-treated roofs can drive up insurance costs due to their higher susceptibility to damage and deterioration.

Here's how Capital Insurance Group stacks up for various coverage values:

  • Cheapest for $100,000: Capital Insurance Group at $439 per year
  • Cheapest for $250,000: Capital Insurance Group at $615 per year
  • Cheapest for $500,000: Capital Insurance Group at $885 per year

Interestingly, superior construction with a tile roof accelerates savings on insurance. Homes with superior construction and tile roofs average a $669 annual premium, $77 less than their frame and shake-treated counterparts. Oregon homeowners can leverage this insight to guide their construction choices and reduce insurance costs.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Capital Insurance GroupAnnual Premium$439
NationwideAnnual Premium$497
American FamilyAnnual Premium$540
State FarmAnnual Premium$606
FarmersAnnual Premium$615
AllstateAnnual Premium$920
COUNTRY FinancialAnnual Premium$1,068

Cheapest Home Insurance in Oregon by Deductible

Adjusting your deductible can save you hundreds on home insurance annually. In Oregon, the least expensive insurer for a $2,000 deductible is Capital Insurance Group, offering an average yearly premium of $396. Comparatively, the most affordable $500 deductible is also from Capital Insurance Group, at $456 annually.

The cheapest providers for each level of deductible are:

  • $2,000 deductible: Capital Insurance Group at $396 per year
  • $1,500 deductible: Capital Insurance Group at $423 per year
  • $1,000 deductible: Capital Insurance Group at $438 per year
  • $500 deductible: Capital Insurance Group at $456 per year

A deductible in home insurance is what you pay out-of-pocket before your insurance coverage begins. The difference in average annual costs for a $500 and a $2,000 deductible in Oregon is $89.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Capital Insurance GroupAnnual Premium$396
NationwideAnnual Premium$428
American FamilyAnnual Premium$509
FarmersAnnual Premium$547
State FarmAnnual Premium$558
AllstateAnnual Premium$845
COUNTRY FinancialAnnual Premium$925

Cheapest Home and Auto Insurance Bundle in Oregon

The most affordable company for a home and auto bundled policy in Oregon is State Farm, offering an average annual rate of $1,508. Significant savings are achievable when bundling home and auto insurance, so it's worth your consideration.

  • State Farm at $1,508 per year
  • Nationwide at $1,732 per year

Bundling carries the added advantage of handling both policies with one insurer. Offering simplicity in insurance management, customers can easily maneuver their policies efficaciously and communicate via a single point of contact. Delve into the best Oregon insurance bundle to explore these benefits further.

State FarmAnnual Premium$1,508
NationwideAnnual Premium$1,732
Auto-Owners Insurance CoAnnual Premium$2,004
FarmersAnnual Premium$2,079
AllstateAnnual Premium$2,365

Cheapest Home Insurance in Oregon by City

Capital Insurance Group offers most Oregon cities the lowest average home insurance rates. Costs may differ significantly across cities due to local building codes, crime rates and weather risks. For example:

  • The city of Gresham has the lowest average annual premium at $402, from Capital Insurance Group.
  • On the other hand, Salem's cheapest average yearly premium is from Nationwide, at $442.

Shopping around for home insurance quotes will potentially allow you to save money on your policy, as insurers calculate rates uniquely for different geographic locations. See our table below for the cheapest rates in other Oregon cities.

EugeneCheapest CompanyNationwideAnnual Premium$418
GreshamCheapest CompanyCapital Insurance GroupAnnual Premium$402
HillsboroCheapest CompanyCapital Insurance GroupAnnual Premium$410
PortlandCheapest CompanyCapital Insurance GroupAnnual Premium$408
SalemCheapest CompanyNationwideAnnual Premium$442

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick 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.