Oregon homeowners enjoy some of the lowest home insurance rates in the country. Our top picks for Oregon homeowners insurance include some of the major insurers in the country: Allstate, American Family, Farmers, and State Farm.
Besides affordable rates, the providers we’ve chosen offer great discounts for first-time homebuyers, families purchasing new houses and seniors heading into retirement. Our favorite carriers also provide excellent standard coverages, along with optional coverages for added protection.
The 4 Best Homeowners Insurance Companies in Oregon
- Allstate: Best for Optional Coverage
- American Family: Best for Affordable Premiums
- Farmers: Best for Multi-Tier Coverage Packages
- State Farm: Best for Exceptional Customer Support
Compare Oregon’s Top Insurance Companies
| Average Price* | AM Best Financial Strength AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | J.D. Power Overall Customer Satisfaction** J.D. Power scores are based on surveys for customer satisfaction and product quality. | ||
|---|---|---|---|---|
| Pin Allstate | $1,039 | A+ | 829/1,000 | |
| Pin American Family | $535 | A | 831/1,000 | |
| Pin Farmers | $954 | A- | 813/1,000 | |
| Pin State Farm | $821 | A++ | 835/1,000 |
*Data provided by Bankrate.com for $250,000 in dwelling coverage
**J.D. Power 2021 U.S. Home Insurance Study
Allstate
Allstate also offers exceptional selection of discounts, including premium reductions for retirees and folks over 55, along with 10% yearly loyalty discounts for policyholders who consistently renew their policies, along with numerous optional coverages for more robust protection.
Best for Optional Coverage
Why we chose it
Why we chose it
Pros
- Diverse discount opportunities
- Informative website and digital tools
- Above-average customer service
Cons
- High rate of complaints on NAIC complaint index
- Financial strength ratings good, but not great
Discounts available
- Early signing discount
- Homebuyer discount
- Hail-resistant roof discount
Unique features
Allstate’s discount list is longer than most national insurers. You could save up to 10% on your premiums if you sign up for your new policy at least 7 days before the current one expires.
Further Reading on Allstate:
American Family
American Family offers the lowest premium of the carriers we reviewed. You can also add optional coverages can help maximize your protection. For example, American Family’s optional equipment breakdown coverage can save you a bundle when computers, electrical systems, and heating and cooling systems fail.
Best for Affordable Premiums
Why we chose it
Why we chose it
Pros
- Useful digital tools
- Extensive coverage options
- Plenty of advertised discounts
Cons
- Subpar customer service
- Limited availability
Discounts available
- Up to a 29% discount when bundling auto and homeowners policies
- Renovated home discount
- Loyalty discount
Unique features
Most major home insurance carriers offer optional coverage, but American Family provides options that some insurers don’t offer. For example, equipment breakdown coverage can help pay to replace electrical and mechanical home systems. American Family’s matching siding protection pays up to $20,000 to replace undamaged siding when other sections of siding need replacing due to a covered loss.
Further Reading on American Family:
Farmers
Typically, home insurance companies offer similar standard homeowners policies and allow customers to add endorsements or riders for greater protection. Farmers simplifies the process by offering three levels of protection, for budget-minded first-time homebuyers, homeowners who need higher coverage limits, and long-time homeowners looking for dwelling and personal property replacement cost coverages.
Best for Multi-Tier Coverage Packages
Why we chose it
Why we chose it
Pros
- Three tiers of coverage
- Bundling discounts
- Identity theft coverage available
Cons
- Not many discounts
Discounts available
- Nonsmokers discount
- Multiple policies discount
- Professional group member discount
Unique features
Farmers’ three tiers — standard, enhanced, and premier — let you pick the best coverage based on cost and coverages. The highest level, premier, includes replacement cost coverage with 100% reimbursement regardless of policy limits.
Further Reading on Farmers:
State Farm
State Farm backs its homeowners policies with sound financial ratings and excellent customer support. Unlike some carriers, State Farm continues to operate local offices, enabling you to work with a dedicated agent when you need to file a claim, buy another policy, or simply ask a few questions about your current coverage.
Best for Exceptional Customer Support
Why we chose it
Why we chose it
Pros
- Financially strong
- 19,000+ agents nationally
- Informative blog
Cons
- Limited discounts
- Higher premiums
Discounts available
- Multiple policy discount
- Fire, smoke, or burglar alarms discount
- Impact-resistant roof discount
Unique features
State Farm’s comprehensive website makes it easy to get a detailed quote in minutes. You can also pay your bill, file and manage a claim, and handle most maintenance tasks either online or via the company’s app.
Further Reading on State Farm:
*Data provided by Bankrate.com for $250,000 in dwelling coverage
**J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale.
Average Cost of Homeowners Insurance in Oregon
According to 2021 data from Bankrate.com, Oregonians pay an average of $712 per year for $250,000 in dwelling coverage. This is far less than the national average of $1,312 per year. Oregon homeowners also pay less than their neighbors in Idaho and Washington, who pay an average annual premium of $835 and $863, respectively.
Home Insurance Add-Ons That May Further Protect You
Although California and Washington often experience moderate to severe seismic activity, Oregon hasn’t suffered a major earthquake since 1949, according to the United States Geological Survey. Nonetheless, some Oregon homeowners may want to consider purchasing earthquake insurance, particularly those living in northwest Oregon, near Mount St. Helens, one of the most seismically active volcanoes in the Cascades.
In the past century, Oregon has experienced several catastrophic floods, including the 1996 flood, which caused major damage along the Tualatin and Willamette Rivers. Typically, standard home insurance policies don’t cover flood damage to your home’s structure or your personal belongings. Homeowners who live in flood prone areas should add flood insurance to their coverage.
The Cheapest Homeowner Insurance Companies in Oregon
| Homeowner Insurance Companies | Average Annual Premium* |
| Mutual of Enumclaw | $317 |
| Capital | $382 |
| Travelers | $448 |
| Grange | $512 |
| American Family | $535 |
| Oregon Mutual | $597 |
| USAA | $683 |
| State Farm | $821 |
| Farmers | $954 |
| Allstate | $1,039 |
| Country Financial | $1,478 |
*Data from Bankrate.com for $250,000 in dwelling coverage
Top 3 Cheapest Homeowners Insurance Companies in Oregon
- Mutual of Enumclaw – $317
- Capital – $382
- Travelers – $448
Top 3 Most Expensive Homeowners Insurance Companies in Oregon
- Country Financial – $1,478
- Allstate – $1,039
- Farmers – $954
Helpful Resources for Oregon Homeowners
First-time homeowners can learn the basics of home insurance by reading A Consumer’s Guide to Home Insurance, published by the National Association of Insurance Commissioners and downloadable at the Oregon Division of Financial Regulation website. The guide explores topics such as coverages, deductibles, and claims processes, and offers insurance shopping tips.
Oregon Housing and Community Services provides numerous homeowner resources, including a homebuyer education guide, homeownership counseling, and an online tool to help first-time homebuyers find a lender.
Homeowners Insurance FAQ
Methodology
We evaluated the companies based on their third-party agency ratings for customer experience, financial stability, as well as coverage options to determine which might be the best providers.
To compare home insurance companies across the board, we considered the following factors:
- Customer Ratings — Customer ratings are an indication of satisfaction with the process of filing a claim. We measured this using J.D. Power Homeowners Satisfaction ratings.
- Coverage — As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available.
- Confidence — It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength will not have issues paying out claims, regardless of the amount. However, companies with weak financial strength might not be able to pay out claims. We measured this using AM Best’s ratings, which specializes in assessing the financial strength of insurance companies.
- Customer Experience — The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the NAIC National Complaint Index.
Rates are based on quoted annual premiums from Bankrate.com. These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits for home insurance rates reflect the following coverage and limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
About the Authors
Michael Evans is a freelance finance writer. His work has been published by Bankrate, Fox Business, The Guardian and Yahoo Finance.
