Best & Cheapest Homeowners Insurance in Oregon June, 2024

State Farm provides the most affordable home insurance option for homeowners in Oregon, offering an average annual rate of $627.

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Updated: 05 May 2024
Written by Bob Phillips
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In our detailed assessment of home insurance providers in Oregon, State Farm emerges as the most cost-effective option, with an average yearly rate of $627. However, it’s essential to understand that the best insurer may vary depending on your specific circumstances and requirements.

For example, if your credit score has been negatively impacted, Nationwide offers the most economical choice with an average annual premium of $1,360. Conversely, if you own an older home, State Farm again stands out with competitive rates of $979 per year and comprehensive coverage.

On the other hand, if you have a newly built home, Nationwide provides the most affordable solution at $378 per year. And for individuals with a history of claims, USAA offers an affordable and accommodating option at $1,375 annually.

At Insuranceopedia, our in-depth analysis aims to help you find the ideal fit for your home insurance needs. By comparing customer ratings, evaluating personal experiences, and presenting comparison charts, we aim to provide you with all the necessary information to make a well-informed decision.

How much is homeowners insurance in Oregon?

State Farm provides the most budget-friendly homeowners insurance rate in Oregon, priced at $627 per year.

As mentioned below, rates in Oregon are lower than the national average.

Area Average Monthly Rate
National $1,820
Oregon $850

It’s crucial to understand that insurance rates are not consistent; they can vary significantly based on several factors.

Cheapest Homeowners Insurance in Oregon

Cheapest Homeowners Insurance, Oregon, 2024

Our Methodology

To determine the most affordable home insurance rates in Oregon, we conducted an analysis using data from various home insurance review platforms. Some of these platforms evaluated rates obtained from public filings obtained by Quadrant Information Services. We calculated an average of these rates for this review. However, it's important to note that the rates offered by each company can fluctuate regularly and may vary depending on your specific circumstances. Additionally, our comprehensive rating takes into account my subjective opinion, which is based on fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

66

Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

Research Hours

Cheapest Homeowners Insurance in Oregon

State Farm stands out as the most affordable choice for homeowners insurance in Oregon, offering an average annual rate of $627.

Company Annual Premium
State Farm $627
Auto-Owners $689
Nationwide $962
USAA $1,090
Allstate $1,284

The price of your insurance policy is influenced by various factors, such as your location, the value of your home, and your claims history. State Farm provides a well-rounded combination of affordability and comprehensive coverage.

Cheapest Homeowners Insurance If You Have an Older Home

For older homes, State Farm provides the most cost-effective rates, averaging $979 per year.

Insurance Company Average Annual Premium
State Farm $979
Farmers $1,058
Nationwide $1,137
USAA $1,146
Allstate $1,349

Older homes often have distinct risks and maintenance requirements that can lead to higher insurance costs. However, State Farm offers competitive rates and comprehensive coverage specifically designed to address the unique needs of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

For newly constructed homes, Nationwide provides the most budget-friendly option, with an average annual rate of $378.

Insurance Company Average Annual Premium
Nationwide $378
American Family $436
State Farm $628
Farmers $765
Allstate $831

Newly constructed homes often have different coverage needs compared to older ones, and Nationwide is known for offering affordable policies customized to meet these specific requirements.

Cheapest Homeowners Insurance If You Have Poor Credit

If you have a low credit score, Nationwide provides the most economical solution, with an average annual rate of $1,360.

Insurance Company Average Annual Premium
Nationwide $1,360
State Farm $1,659
Allstate $2,250
USAA $2,432
Farmers $2,445

Your credit score plays a significant role in determining your insurance rates, as insurers use it to assess risk. Nationwide recognizes the importance of providing fair coverage to all individuals, regardless of their financial history.

Cheapest Home Insurance for a History of Claims

For homeowners with a history of claims, USAA offers an affordable solution, with an average annual rate of $1,375.

Insurance Company Average Annual Premium
USAA $1,375
Auto-Owners $1,396
Farmers $1,402
Nationwide $1,997
Allstate $2,656

Having a history of claims can indicate higher risk for insurers, which typically results in increased premiums. However, USAA believes in providing second chances and offers reasonable rates for individuals with past claims.

Best Homeowners Insurance Companies in Oregon

Selecting the appropriate homeowners insurance is not just a requirement; it’s a strategic decision. With Oregon’s diverse homes reflecting its rich history, finding an insurance provider offering comprehensive coverage at competitive rates becomes essential.

To simplify your decision-making process, we’ve curated a list of the top homeowners insurance companies in Oregon. These companies have been evaluated based on criteria such as annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Explore our comparison chart below to find the ideal fit for your home insurance needs.

Company Annual Premium
1. State Farm $627
2. Auto-Owners $689
3. Nationwide $962
4. Foremost $976
5. Oregon Mutual $825
6. USAA $1,090
7. Allstate $1,284
8. Country Financial $1,300

Average Home Insurance Rates in Oregon by Deductible Amount

The deductible amount you choose for your homeowners insurance policy has a significant impact on premium rates in Oregon. Here’s how the average home insurance rates vary for different deductible amounts:

Deductible Amount Average Annual Premium
$500 $758
$1,000 $692
$1,500 $662
$2,000 $610

Average Home Insurance Rates in Oregon By Coverage Amount

A key factor that affects your premium is the dwelling coverage amount, which represents the maximum amount your insurance company will pay to rebuild or repair your home if it’s damaged or destroyed.

Here is a comparison chart illustrating the average annual homeowners insurance premiums for various dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$200,000 $687
$250,000 $748
$300,000 $872
$350,000 $983
$400,000 $1,098

Average Home Insurance Rates in Oregon by Company

Here’s a comparison of annual premiums from top insurance providers in Oregon.

Company Annual Premium
State Farm $627
Auto-Owners $689
Nationwide $962
Foremost $976
Oregon Mutual $825
USAA $1,090
Allstate $1,284
Country Financial $1,300

How Much is Homeowners Insurance for Other Cities in Oregon?

Here’s a comprehensive comparison chart displaying the most affordable annual premiums across different cities in Oregon.

City Annual Premium
Beaverton $740
Corvallis $839
Portland $1,386
Hillsboro $710

Getting Online Homeowners Insurance Quotes in Oregon

Platforms like Insuranceopedia make it easy to find the ideal coverage for your specific needs with just a few clicks. By offering quick online quotes from a variety of top-rated insurers, Insuranceopedia enables you to easily compare rates.

All you need to do is input your details, and we’ll handle the rest by presenting you with a range of options tailored to your requirements. This allows you to confidently select a policy that provides the best value, striking a balance between cost and comprehensive coverage.

FAQs

Who has the cheapest home insurance in Oregon?

State Farm offers the most affordable home insurance option in Oregon, with an annual premium of $627.

What is the average cost of home insurance in Oregon?

On average, homeowners insurance in Oregon typically costs around $850 annually.

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