Average Costs and Cheapest Homeowners Insurance Companies in Oregon

Various factors influence the cost of home insurance. The cheapest home insurance overall in Oregon is from Farmers. For an expensive home, it’s American Family and Travelers if you’re insuring a newer house or have a pool. Nationwide has the cheapest rates if you have poor credit.

For this analysis, MoneyGeek gathered thousands of quotes from different providers to rank the most affordable homeowners insurance companies in Oregon.

If you’re looking to balance affordability with a strong service experience, MoneyGeek also scored the best home insurance companies in Oregon.

To find Oregon’s most affordable homeowners insurance, MoneyGeek collected thousands of quotes from various carriers and averaged them for different dwelling coverages. We found Farmers has the cheapest insurance at an average of $545 per year for a baseline dwelling coverage of $250,000.

The following homeowners insurance companies in Oregon offer the most affordable policies for different dwelling coverage:

• Cheapest for $100,000: Travelers, $324 per year
• Cheapest for $250,000: Farmers, $545 per year
• Cheapest for $500,000: American Family, $950 per year

Use the table below to determine how much insurance costs for the coverage you need. How much dwelling coverage you need is based on the replacement cost of your home.

The cost of home insurance depends on how much coverage you buy. The average cost of home insurance in Oregon for baseline dwelling coverage of $250,000 is $811 per year.

If your baseline dwelling coverage level is higher (or lower), your home insurance rates will be too. For instance, the average annual rate for dwelling coverage of $100,000 is $519. Meanwhile, the average cost for dwelling coverage of $3 million is $7,146 per year. That’s a difference of about $6,627.

While higher coverage is more expensive, it provides more protection.

There are many other factors that insurers use to estimate homeowners insurance in Oregon. These include the value of your property, roof quality, property location, proximity to a fire station, the value of your personal property, whether you have a pool or own an aggressive dog breed and the deductible you choose.

You can change your coverage limits, deductibles and other limits to see how the average cost of homeowners insurance in Oregon changes based on your needs.

To identify the most affordable homeowners insurance in Oregon, MoneyGeek averaged thousands of quotes for different dwelling coverages. For homeowners with high-value houses looking for $2 million in dwelling coverage, the most affordable insurers are:

• American Family: $2,764 per year
• Farmers: $2,806 per year

USAA also offers the cheapest homeowners insurance with $2 million in dwelling coverage at $2,502 per year; however, it is offered exclusively to members of the military and their families.

Rates can vary greatly for expensive homes depending on the actual dwelling coverage and insurer, so it is important to shop around and compare quotes from multiple insurance providers.

MoneyGeek evaluated thousands of quotes from insurance providers across the state to help homeowners in Oregon find the cheapest insurance for newer homes. Our team used a sample home built in 2015 with $250,000 dwelling coverage for this analysis.

Our study reveals that the most affordable homeowners insurance in Oregon if you have a new home is from:

• Travelers: $351 per year
• Nationwide: $410 per year

Your house’s age impacts the price of your homeowners insurance. If your home was built in 2015, for example, your home insurance can be as much as $180 less than if it was built in 2000.

Note that our numbers for homes built in 2000 may differ from those in the first section of this guide due to a different ZIP code collection process.

In Oregon, home insurance for a newer house costs roughly $553 per year, while insuring a home constructed in 2000 is around $733 per year.

Typically, older homes are more expensive to insure. In addition to wear and tear, the materials used during construction are older and thus may be less resistant to fire and weather events. Because homeowners with older houses are more likely to file a claim, insurance companies charge more.

MoneyGeek analyzed thousands of quotes to find the cheapest homeowners insurance in Oregon with baseline coverage of $250,000 for homes with pools. Our research shows homeowners with a pool can find the lowest prices from these carriers:

• Travelers: $561 per year
• Farmers: $563 per year

Having a pool increases a home’s value and potential repair costs, making them more expensive to insure. Keep in mind that not all insurers include in-ground pools on their dwelling coverage, and most companies consider above-ground pools as personal property. However, you will need additional liability coverage for pool-related injuries or accidents.

In Oregon, whether or not your home includes a pool can sometimes affect the cost of your home insurance.

There’s a very slight difference for homes in Oregon. You'll pay an average of $734 per year if you have a pool for a home insurance policy with a $250,000 dwelling coverage limit. If you don’t have a pool, the same policy costs $733.

MoneyGeek averaged thousands of home insurance quotes from insurance carriers across Oregon to help people with poor credit scores find affordable home insurance.

We found the most inexpensive companies for Oregon homeowners with a poor credit record and $250,000 dwelling coverage are:

• Nationwide: $1,098 per year
• American Family: $1,289 per year
• Country Financial: $1,289 per year

Having poor credit can significantly increase your home insurance costs. This is because insurance companies use credit-based insurance scores to determine an individual’s risk and how likely a person is to file a claim or miss payments on their premiums.

The cost of home insurance varies based on your credit history. Insurance companies assess people with bad credit scores as riskier to insure, so they charge higher rates.

In Oregon, the average cost of homeowners insurance can differ by $1,272 per year, depending on your credit score. If you have a poor credit score, you’ll pay about $2,051 per year for home insurance, while for a good credit score, you’ll pay $778.

Home insurance prices and the most affordable provider can vary depending on where you live in the state. MoneyGeek found that Farmers is Portland’s most affordable car insurance company for policies with $250,000 dwelling coverage. The average rate is $266 cheaper compared to other insurers in the city.

You’ll need to provide some basic information about yourself to find out how much your homeowners insurance in Oregon will be. This includes your name, address, contact information and social security number.

To get a binding home insurance quote, you’ll also have to provide information related to your property. This can include everything from your home’s current value, the cost of your personal property, the age and type of your home, the materials used in construction, its current condition and an estimate of its replacement value.

You can also use MoneyGeek’s Oregon home insurance calculator to get an instant anonymous estimate based on the thousands of quotes we obtained and averaged from insurers across the state.

MoneyGeek analyzed homeowners insurance premiums from nine 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.