Compare Homeowners Insurance Quotes In Oregon

On average, your neighbors pay $48 a month.

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Best Home Insurance Rates In Oregon

The Beaver State is home to Nike, Columbia Sportswear, and the most craft breweries per capita of any state. Oregon is the site of the end of the Lewis & Clark Trail and the Oregon Trail, as well as Crater Lake National Park. Matt Groening, creator of the TV show The Simpsons, is from Oregon. Oregon is also home to some crucial homeowners insurance hazards to keep in mind.

Average Oregon Homeowners Insurance Rates

Oregon has some of the lowest average home insurance premiums in the country. According to the most recent available data from the Insurance Information Institute, in 2014, the average cost of homeowners insurance in the state of Oregon was $574, about 50% than the national average of $1,132. People in the state of Oregon enjoy the lowest average home insurance rates in the US.

Oregon Average Annual Homeowners Insurance Rates
  2012 2013 2014
Oregon Annual Average $567 $568 $574
Oregon Price Per Month $47 $47 $48
US Annual Average $1,034 $1,096 $1,132
US Cost Per Month $86 $91 $94
National Rank 50 50 51
Source: http://www.iii.org/fact-statistic/homeowners-and-renters-insurance

Choosing a homeowners insurance company in Oregon should be easier. Actually, it’s already easy; you could just go with whichever company your mortgage lender recommends, but you probably won’t get the best rates that way. The key to finding the best rates is to get a homeowners insurance quote comparison in Oregon from multiple companies.

Best Oregon Home Insurance Companies

Last year, these were the most common home insurance companies reported by QuoteWizard users living in the state of Oregon. Out of the 10,244 Oregon homeowners that used QuoteWizard to request insurance quotes last year, 377 had no home insurance.

  1. Farmers
  2. Allstate Insurance
  3. Progressive Casualty
  4. Geico
  5. American Family
  6. Liberty Mutual
  7. Safeco
  8. Country Financial
  9. Nationwide
  10. AAA Insurance Co.
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Why contact every individual company in Oregon that you want a homeowners quote from when you can just answer a few questions about your home and desired coverage, and get competing quotes from agents? Save time and money with QuoteWizard.

Top 10 Oregon Home Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Direct Premiums Written (in thousands) Market Share
1 Farmers Insurance Group of Cos. $114,396 16.6%
2 Liberty Mutual $87,219 12.6%
3 Allstate $58,493 8.5%
4 USAA Insurance Group $37,503 5.4%
5 COUNTRY Financial $32,481 4.7%
6 American Family Mutual $31,477 4.6%
7 Travelers Companies Inc. $15,834 2.3%
8 Nationwide Mutual Group $15,010 2.2%
9 Hartford Financial Services $13,791 2.0%

Financial Strength Ratings of Top Oregon Home Insurers

Source: A.M. Best (Ratings as of 9/10/2015)

  • Farmers Insurance Group of Cos.: A+
  • Liberty Mutual: A
  • Allstate: A+
  • USAA Insurance Group: A++
  • COUNTRY Financial: A+
  • American Family Mutual: A
  • Travelers Companies Inc.: A++
  • Nationwide Mutual Group: A+
  • Hartford Financial Services: A+
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Rating Guide

Oregon Property & Casualty* Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Direct Premiums Written (in thousands) Market Share
1 Liberty Mutual $637,564 11.3%
2 Farmers Insurance Group of Cos. $499,051 8.8%
3 SAIF Corp. $436,160 7.7%
4 Progressive Group $266,038 4.7%
5 Allstate $177,956 4.5%
6 Travelers Insurance Inc. $177,956 3.1%
7 Geico $174,650 3.1%
8 United Service Automobile Assurance Co. $148,128 2.6%
9 COUNTRY Financial $134,096 2.4%
*Represents both home and auto insurance

Home Insurance Rate Factors

Many different factors come into play when insurance companies calculate the cost of homeowners insurance. Some, like the age of your home, are within your control. Others, like crime rates or natural disasters, are beyond your control. Here are some of the factors that affect the cost of homeowners insurance in Oregon.

Average Home Listing Prices

Home prices can greatly affect the cost of insurance in any given state. A higher average home price generally means higher premiums in that state. For Oregon, the average listing price is $338,010 as of July 2015, higher than the national average of $284,748.

Average Burglary Rates

Burglary is a serious and sometimes violent property crime. States with higher average burglary rates generally have higher average home insurance premiums, because the likelihood that someone will need to file a claim is higher. According to data from the FBI Uniform Crime Report, in 2013, Oregon’s average burglary rate was 528.5 per 100,000 people, which is a bit lower than the national average of 610.0 per 100,000.

States with more law enforcement per capita tend to be safer than states with fewer policemen and women. In Oregon, there are 20.9 law enforcement personnel per 100,000 total citizens, which is lower than the national median of 32 per 100,000.

Home Insurance Hazards

Oregon’s climate is generally quite mild. With frequent rain in western Oregon, home insurance hazards in Oregon are few and far between. However, the presence of volcanoes does pose an odd, but somewhat serious homeowners insurance hazard.

Frequent precipitation: Oregon averages 27.4 inches of rain per year, but due to its incredibly varied geography, some parts experience much more. To the west, on the Oregon Coast, they average over 150 days of rain per year, and close to 70 inches of rain annually. To contrast that, eastern Oregon has a dry, almost desert-like climate. They average under 100 days of rain a year, and only about 12 inches of rain--quite the disparity. Central Oregon and the Willamette Valley are somewhere in between the two. Portland, Oregon’s largest city, experiences 164 days of rain per year, and about 44 inches of rain annually. This means that it rains in Portland almost every other day, on average. December is by far the rainiest month of the year. During this month, western and central cities receive rain about 20 days of rain of the possible 31, and eastern cities receive closer to 11 days, on average.

Throughout the year, this constant rain can be somewhat of a nuisance. It can also be a homeowners insurance hazard. If the moisture from rain can get trapped inside, it can cause the development of mold and mildew, which can be quite damaging to homes. If rain is unrelenting, it can, on occasion, lead to flooding. It is important to note that the only way to obtain flood insurance is through the National Flood Insurance Program. Learn more about the NFIP here.

Volcanoes: Oregon is home to a number of volcanoes, namely Mount Hood, one of the tallest volcanoes in the United States. The most recent seismic activity related to Mt. Hood happened in 1980 and 2002, consisting of a series of minor earthquakes. However, Mount St. Helens is located at the very southern end of Washington State, which borders Oregon to the north. Mount St. Helens famously erupted in May of 1980, causing ash clouds to rise 80,000 feet in the air and depositing ash over 11 states. The eruption left 57 people dead and destroyed hundreds of miles of land around it, costing over a billion dollars. This eruption was devastating, blanketing much of Washington and Oregon in ash. Volcanic activity is more of a threat in Oregon than in many other states, making this homeowners insurance hazard fairly unique. Feel free to discuss coverage for volcanoes and earthquakes with your insurance agent.

Drought: While not as great of a concern as in California, to the south, drought in Oregon is a homeowners insurance hazard. The US Drought Monitor ranks drought conditions from D0, slight drought, to D4, very extreme drought. As of July 2015, 100% of Oregon was experiencing drought conditions. 48% of the state faced D3 (extreme drought) and 52% of the state faced D2 (severe drought). These conditions can have adverse effects on land, crops, economic welfare, wildlife, and a number of other second-order effects.

Oregon Office of the Insurance Commissioner

Website:
Homepage
Insurance Commissioner:
Laura N. Cali
Insurance Hotline:
(888) 877 – 4894
Office Hours:
Monday - Friday
9:00 am to 5:00 pm
File a Consumer Insurance Complaint
Complaint Page

Sources:

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