Oregon home insurance

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Protect Oregon home values with quality insurance 

Whether you own a house in the north near Portland, in the south near Ashland or somewhere in between, you must protect its value against multiple perils. With the average value of an Oregon home at nearly $500,000, far above the national average, this becomes particularly vital. Typical dangers to homes in the Beaver State include wildfires, theft and vandalism and extreme weather. A strong Oregon home insurance plan provides the best source of protection for your home.

The common risks for homeowners

FBI records show that Oregon ranks among the 10 highest states for property crimes. This category of crime includes burglaries which involve criminals coming into a home to steal items. Without adequate home insurance, you stand to lose a lot if you become a victim of a burglary. Certain cities such as Portland and Coos Bay have even higher rates of crime than the state average.

Homeowners also encounter a variety of extreme weather events that threaten homes throughout the state. In 2021 alone, Oregonians endured a number of these weather events:

       A February ice storm that caused widespread power outages.

       A wildfire season that impacted most of the state.

       A heat wave that caused deaths and property damage.

       A drought that dried out wells and resulted in water shortages.

Climate scientists indicate these damaging weather patterns might represent the new normal. This makes good Oregon home insurance more important than ever. Floods, landslides and earthquakes also occur in Oregon and have the capacity to destroy homes, though these perils often require special insurance products for coverage.

The cost of Oregon home insurance

On average, a home insurance policy in Oregon costs significantly less than the national average. Based on data from 2021, Oregonians pay about $1,000 a year for a typical policy. This amounts to just over $400 less per year than the average U.S. policy and puts Oregon among the 15 least expensive states in which to buy home insurance.

Where you live in Oregon will impact how much you pay for insurance. For example, if you live in a high-crime area such as Portland and Medford, you will likely pay more. The frequency of natural disasters in your ZIP code will also play a role in the cost of premiums.

To make sure you get the best rate, always compare Oregon home insurance quotes when possible. Our VIU by HUB online tool offers an easy-to-use format to explore insurance products from a variety of top-rated carriers.

The basics of home insurance coverage

Unlike auto insurance that is required of drivers in Oregon, you do not have to buy insurance coverage for your home. If you have a home loan with a lender, though, the bank will require you to carry a certain level of protection. Most people understand the importance of protecting the value of their home and therefore buy a policy that fits their needs.

Covered perils

According to information from the Oregon State Department of Financial Regulations, a strong homeowners policy will pay for damage to your home and additional structures such as a fence or a shed. Standard Oregon home insurance will cover damage from storms, fire, theft and vandalism. It will also include other benefits:

       Coverage for personal belongings.

       Liability coverage in case personal injury occurs on your property.

       Compensation for temporary living expenses incurred after a covered disaster.

You may need to customize your protection to fit your needs. For example, if you own personal belongings of high value like jewelry or fine art that may have limited coverage in a homeowners policy, you should consider purchasing specialized coverage for these items.

Non-covered perils

Not all damages to your property are covered. Maintenance issues are usually excluded. Certain perils such as earthquakes and flood damage will require a separate endorsement or a stand-alone policy to activate coverage.

While you can often add coverage for additional perils, this will likely increase the cost of your monthly premiums. Our VIU by HUB online tool gives you the ability to explore Oregon home insurance quotes by making adjustments to your coverage choices. This information helps you make an informed choice on the optimal policy.

The advanced features of Oregon home insurance

The more you know about insurance, the better you can protect your home and family in an unpredictable world, and the more you can save. To lower your premiums, you can take several important steps:

       Raise the level of your deductibles.

       Take credit for all available discounts.

       Install security features in your home.

       Forego filing claims for small damages.

       Increase your credit score.

It also pays to compare Oregon home insurance quotes at any time, and especially when you renew your policy. By using our VIU by HUB online platform, you get a clear picture of the costs of each insurance product. This helps you identify the most cost-effective protection for your home.

Also make sure you understand how your policy works. It’s important to know what your policy will and will not cover to eliminate surprises if you need to file a claim. Policy categories in Oregon include the following:

       Basic Coverage for the most common perils.

       Broad Form coverage that adds several protections.

       Special Form coverage that names excluded perils.

       Comprehensive Coverage for the widest protection.

       Older Home coverage for historic homes.

By getting the right policy, you can pay less for premiums and still get the net of protections necessary to maintain your home. This will protect you in a variety of situations and provide a strong foundation for financial security.

This information is intended for general informational purposes only and is not intended to constitute legal advice.


Wall Street Journal

Oregon State Department of Financial Regulations

Home insurance in Oregon by city

Understand risks, minimum state coverage requirements, average costs and other specifics that can impact home insurance policies and premium rates in your city.