After reviewing the options, our top pick for the best homeowners insurance company in Oregon American Family Insurance. It has strong ratings with both A.M. Best and J.D. Power, and offers a very low premium to many Oregon homeowners. Our other top picks are State Farm, Allstate, Metropolitan insurance, and Farmers Insurance — reviewed in greater detail below.
The 5 Best Homeowners Insurance Companies in Oregon
|American Family Insurance||State Farm||Allstate||Metropolitan Insurance||Farmers Insurance|
|Our review||Our review||Our review||Our review|
|A.M. Best Financial Strength Rating||A+||A++||A+||A+||B++|
|J.D. Power Overall Customer Satisfaction Score||3/5||4/5||3/5||2/5||3/5|
|Online Quote Tool||✓||✓||✓||X||✓|
|Compare rates||Compare rates||Compare rates||Compare rates||Compare rates|
Average Cost of Homeowners Insurance in Oregon
Based on Quadrant data, the average cost of insurance in Oregon is $677 a year, which is about half the national average of $1,211.
These are based on averages though; the following are some of the factors used in determining your actual premium:
- Age of home
- Size of home
- Specific location of home
- Construction of home
- Condition of home
- Type of heating
- Type of Policy
- Credit score
- Marital status
- Nearest fire station
The provider you choose will also affect your premium as each insurance company has a different pricing algorithm. It’s possible you could save a lot by simply switching companies.
Home Insurance add-ons that will further protect you-
While overall claim frequency is relatively low in Oregon, according to the Insurance Research Council, the severity of claims has increased to line up more with national averages in recent years. If you do end up experiencing a loss or damage from flooding (or landslides, which are included in most flood policies), you want to be sure you’re covered.
Oregon is home to the Cascadia Fault line, and as a result it gets about 15-20 earthquakes a year. For this reason, you should strongly consider purchasing earthquake coverage. Earthquakes can put coastal Oregon homeowners at additional risk of flood damage.
Other structures are not always included in standard policies and require separate coverage. These structures include:
Helpful Resources for Oregon Homeowners
The Division of Financial Regulation is a great site for homeowners in Oregon, but it’s also a good site for learning about any type of insurance. Additional information can be found in its home insurance guide.
Apply Online vs. In-Person
With today’s technology, most insurance providers offer ways to conduct business online.
However, if you have a lot of questions, it may be best to apply in person. This way the agent will be able to sufficiently answer your questions.
You don’t really need anything to apply for homeowners insurance besides information. For this reason, we recommend using your home’s inspection report, as your inspector will have already thoroughly answered most of the questions the insurance company is going to ask.
If you already own your home and have done extensive work on it, you will likely need to be able to recall what you’ve done, the materials you used, and approximately how much you spent on the repairs and renovations.
If you are in the process of buying a home, you must have a homeowners insurance policy in place before your lender will allow you to close. If you’re paying all cash, a homeowners insurance policy is not required, but is definitely recommended.
It’s critical not to have gaps in coverage to avoid fines and penalties. Always keep your lender and escrow agent updated on your insurance if any changes take place.
To determine the best homeowners insurance providers in Oregon we looked at a variety of factors. First, we determined which companies hold the largest market share in the state. From there, we looked at each company’s A.M Best and J.D. Power ratings. These two ratings, when analyzed together, provide a comprehensive picture of the type of service its customers are likely to receive and financial stability of the provider.
We then evaluated the following data:
- Average premium cost
- Policy offerings
- Discount opportunities
- Claims against the company
- Tech savviness (online resources, mobile app, etc.)
- Better Business Bureau rating
These are the factors that contributed to our choices for best Oregon homeowners insurance providers.
Best Oregon Homeowners Insurance Companies
American Family Insurance
- Low average premiums
- Multiple policies
- Average customer satisfaction ratings and reviews
American Family Insurance has some of the lowest premiums in the state (it’s average premium is only $426 a year), contributing to its top place in our list. It also has a variety of policy options for its members to choose.
American Family currently only receives average customer reviews compared to competitors.
- Strong financial rating
- Great mobile app
- Higher than average premium
State Farm has many elements working in its favor. Although it has a higher than average premium, State Farm’s pros include a great web presence and a comprehensive mobile app.
State Farm also has a strong financing rating from AM Best, providing peace of mind in the event disaster strikes and you need a claim payout.
- Affordable premiums
- Multiple discount opportunities
- Average ratings for customer satisfaction
Allstate tops our list as a provider with fairly affordable premiums, a variety of policy options, and extensive discount opportunities.
Compared to other providers, one downside to Allstate is that it has only received average customer satisfaction.
- Replacement cost value coverage
- Easy to achieve discounts
- Must call or fax to file a claim
The top value factor of Metropolitan Insurance for us is that the company offers full replacement cost in the event of damage. Additionally, they provide easy-to-achieve discounts. However, a downside is that you can’t file a claim online with Metropolitan.
- Many discounts available
- Variety of policies and coverage options
- Weak financial rating through A.M. Best
Farmers Insurance makes our list for providing a variety of policies and coverage options for its members to choose from. It also offers a slew of discounts to help you save each month, including discounts for home safety features or material upgrades used in renovations.
Where Farmers Insurance is lacking is in its financial profile — receiving only a B++ AM Best rating. Compared to the other providers on this list, it’s not the most financially strong.
The Cheapest Homeowner Insurance Companies In Oregon
|Homeowner Insurance Companies||Average Annual Premium|
|Eagle W. Insurance Company||$343|
|Grange Insurance Association||$426|
|American Family Insurance||$437|
|Oregon Mutual Insurance Company||$515|
|Garrison Property and Casualty Insurance Company||$634|
|Average Across Companies||$635|
Homeowner Insurance by Age of Home
|Age of Home||Average Annual Premium|
|Average Across Credit Rating Tiers||$737|
Quadrant home insurance rate data as of 12/01/2019.
These rates are a sample set meant only for general comparison. Your own premium will vary. Learn how we tested rates for the cheapest home insurance companies in our methodology.
Top 3 Cheapest Homeowner Insurance Companies in Oregon
- Eagle W. Insurance Company – $343
- Grange Insurance Association – $426
- American Family Insurance – $437
Top 3 Most Expensive Homeowner Insurance Companies in Oregon
- Country Financial – $1,103
- Encompass – $939
- Foremost Insurance – $837
The cheapest homeowners insurance provider in Oregon is Eagle W. Insurance Company with an average annual premium of $343, whereas the most expensive is Country Financial with $1,103.
Average premium prices do not necessarily reflect the actual quote you receive from these providers though so it’s best to contact the carriers directly for that information.
Homeowners Insurance FAQ
Homeowners insurance is not legally required in Oregon. However, your lender will most likely require you to be insured up to the amount of the loan.
The cheapest homeowners insurance in Oregon is currently through Eagle W. insurance Company. The average annual premium through this provider is only $343.
The cheapest providers in Oregon are Eagle W. Insurance Company, Grange Insurance Association, and American Family Insurance.