Best & Cheapest Homeowners Insurance in Portland, OR For April, 2024

Nationwide offers the cheapest homeowners insurance to homeowners in Portland, with an average annual quote of $1,108.

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Updated: 19 March 2024
Written by
Bob Phillips
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In our comprehensive review of homeowners insurance providers in Portland, OR, Nationwide emerges as the most budget-friendly option, with average annual rates of $1,108. However, keep in mind that the best insurer for you may vary based on your unique circumstances and requirements.

For instance, if your credit score has taken a hit, Travelers stands out as the most economical choice with an average annual premium of $2,982. In contrast, if your home is on the older side, State Farm rises to the top with its competitive rates of $1,740 per year, and comprehensive coverage.

On the other hand, if you’re the proud owner of a newly constructed home, State Farm offers the most cost-effective solution at $1,161 per year. And for those who’ve had a history of claims, Nationwide provides an affordable and understanding solution at $1,665 per annum.

Last, if you possess a wealth of personal property that needs protection, USAA proves to be your best bet, offering extensive coverage at a reasonable $1,364 per year.

Our in-depth analysis at Insuranceopedia is designed to guide you toward the perfect fit for your homeowners insurance needs. By comparing customer ratings, analyzing personal experiences, and presenting comparison charts, we will provide you with all the information necessary to make an informed decision.

How much is homeowners insurance in Portland, OR?

Nationwide offers the most affordable rate for homeowners insurance in Portland at $1,108 annually.

As you can see below, rates in Portland are less expensive than the National average. However, they are higher than the Oregon State average rate.

Area Average Monthly Rate
National $1,820
Oregon $850
Portland $1,386

It’s important to understand that rates are not a one-size-fits-all matter. They can fluctuate significantly based on a myriad of factors.

For instance, your personal driving history plays a pivotal role; a record filled with traffic violations or accidents will likely lead to higher premiums than a clean slate. The type and model of your vehicle also come into play, as high-performance or luxury cars typically cost more to insure.

Cheapest Homeowners Insurance in Portland, OR 2024

Cheapest Homeowners Insurance in Portland, OR 2024

Our Methodology

To find the cheapest home insurance rates in Portland, we analyzed findings from numerous home insurance review sites, some of which analyzed rates from public filings obtained by Quadrant Information Services. We’ve used an average of those rates for this review, but each company’s rates change frequently and will vary based on your situation. Also factored into the overall rating is my subjective opinion based on fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

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Quotes Analyzed

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Years Of Industry Experience

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Brands Reviewed

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Research Hours

Cheapest homeowners insurance in Portland, OR

Nationwide emerges as the cheapest overall option for homeowners insurance in Portland, OR, with an average annual rate of $1,108.

Company Annual Premium
Nationwide $1,108
Travelers $1,190
USAA $1,360
Allstate $1,393
State Farm $1,567

The cost of your policy is influenced by many factors, including location, home value, and your claims history. Nationwide offers a balanced blend of affordability and comprehensive coverage.

Cheapest Homeowners Insurance If You Have Poor Credit

If your credit score is poor, Nationwide provides the most affordable solution, with an average annual rate of $2,268.

Insurance Company Average Annual Premium
Nationwide $2,268
Allstate $3,327
State Farm $3,529
USAA $4,598
Farmers $9,429

Your credit score can significantly impact your insurance rates as it’s a key factor insurers consider when calculating risk. Nationwide understands that everyone deserves fair coverage, regardless of their financial past.

Cheapest Homeowners Insurance In Portland If You Have an Older Home

For those with older homes, State Farm offers the cheapest rates, averaging $1,740 per year.

Insurance Company Average Annual Premium
State Farm $1,740
Erie $1,876
Farmers $1,962
Penn National $2,030
Chubb $2,126

Older homes often come with unique risks and maintenance issues, which can drive up insurance costs. State Farm offers competitive rates and comprehensive coverage tailored to meet the needs of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

If you’re the proud owner of a newly constructed home, USAA offers the most cost-effective solution, with an average annual rate of $1,161.

Insurance Company Average Annual Premium
USAA $1,161
Chubb $1,192
Nationwide $2,041
Travelers $1,356
Country Financial $1,749

New constructions often require different coverage compared to older homes, and USAA excels in providing affordable policies tailored to these specific needs.

Cheapest Home Insurance In Portland for a History of Claims

For homeowners with a history of claims, Nationwide provides an affordable solution, with an average annual rate of $1,665.

Insurance Company Average Annual Premium
Nationwide $1,665
Farmers $3,086
Allstate $1,936
Erie $3,115
Chubb $3,407

A history of claims can raise red flags for insurers, often leading to higher premiums. However, Nationwide believes in second chances and offers reasonable rates for those with past claims.

Cheapest Home Insurance Rates for Lots of Personal Property

If you have a wealth of personal property, USAA offers the cheapest rates, with an average annual rate of $1,364.

Insurance Company Average Annual Premium
USAA $1,364
Allstate $1,410
Travelers $1,467
State Farm $1,645
Country Financial $2,432

The more personal property you have, the higher your coverage needs, which can increase premiums. USAA provides extensive coverage at reasonable rates, ensuring all your belongings are adequately protected.

Best Homeowners Insurance Companies in Portland, OR

Choosing the right homeowners insurance is not just a necessity; it’s a strategic decision. With a rich history, Portland homes are as unique as its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates becomes paramount.

To make your decision-making process easier, we’ve compiled a list of the top homeowners insurance companies in Portland, OR. These companies have been assessed based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Take a look at our comparison chart below and find the perfect fit for your home insurance needs.

Company Annual Premium
Nationwide $1,108
Country Financial $2,290
Farmers $960
MetLife $1,622
Travelers $1,190
USAA $1,360
Allstate $1,393
State Farm $1,567

Average Home Insurance Rates by Zip Codes

The cost of homeowners insurance in Portland, OR can vary significantly based on the zip code. Below are tables showcasing rates for different zip codes in Portland, along with the five cheapest and most expensive zip codes in the area for annual home insurance premiums.

ZIP Code Average Insurance Premium (Annual)
97233 $805
97202 $832
97266 $778
97217 $767
97219 $833
97211 $798

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
97212 $773
97216 $774
97266 $778
97258 $782
97203 $780

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
97239 $852
97201 $858
97202 $832
97219 $833
97233 $805

Average Home Insurance Rates in Portland, OR by Deductible Amount

The deductible amount chosen for a homeowners insurance policy significantly affects the premium rates in Portland, OR. Here’s how the average home insurance rates fluctuate with insurers for different deductible amounts:

Deductible Average annual cost
$500 $1,016
$1,000 $679
$1,500 $632
$2,000 $597
$5,000 $497

Average Home Insurance Rates in Portland, OR By Coverage Amount

One of the key components that influences your premium is the dwelling coverage amount. This is the maximum amount your insurance company will pay to rebuild or repair your home if it’s damaged or destroyed.

Let’s take a closer look at a comparison chart that outlines the average annual homeowners insurance premiums for different dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$100,000 $486
$200,000 $672
$300,000 $804
$400,000 $1,001
$500,000 $1,220

Average Home Insurance Rates in Portland, OR by Company

Here’s a comparison table showcasing annual premiums from some of the top providers in Portland:

Company Annual Premium
Nationwide $1,108
Country Financial $2,290
Farmers $960
MetLife $1,622
Travelers $1,190
USAA $1,360
Allstate $1,393
State Farm $1,567

How Much is Homeowners Insurance for Other Cities in Oregon?

The following is a  detailed comparison chart that showcases the cheapest companies and their annual premiums across various cities in Oregon.

City Annual Premium
Albany $1,035
Phoenix $1,120
Otis $1,064
White City $1,401

Getting Online Homeowners Insurance Quotes in Oregon

With informative sites like Insuranceopedia, finding the best coverage for your unique needs is just a few clicks away. By providing quick online quotes from a variety of top-rated insurers, Insuranceopedia helps you to compare rates at a glance.

Just input your details and let us do the hard work, presenting you with a range of options tailored to your requirements. This way, you can confidently choose a policy that offers the highest value, balancing cost with comprehensive coverage.

FAQs

Who has the cheapest home insurance in Portland, OR?

The cheapest home insurance in Portland, Oregon, is provided by Nationwide, with an annual premium of $1,108.

 

What is the average cost of home insurance in Portland, OR?

The average cost of homeowners insurance in Portland, Oregon, is approximately $1,386 per year.

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