The Best Home Insurance in Oregon for 2024

The average cost of homeowners insurance in Oregon is $1,255 per year, or about $105 per month, according to a NerdWallet analysis. For comparison, the national average is $1,915 per year.

NerdWallet analyzed data from numerous insurance companies to help you find the best home insurance in Oregon in the following categories:

• Best for affordability: Travelers.

• Best for coverage: Openly.

• Best for consumer experience: American Family and Nationwide.

The rates in our analysis are estimates based on many factors, so your rate may differ.

Note: Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state.

Best affordable homeowners insurance in Oregon: Travelers

In Oregon, the average annual premium for Travelers is $775, which is well below the state average of $1,255.

Travelers offers a robust online experience. You can use the website to get a homeowners insurance quote, file and track claims, make payments, and learn about insurance basics.

Its coverage offerings are similarly strong. For example, you may be able to add extra coverage in case the dwelling limit on your home isn’t enough to rebuild your house after a disaster. One unique option is Travelers’ green home coverage, which pays extra if you want to use eco-friendly materials when repairing or rebuilding your home after a covered claim.

Learn more in our Travelers homeowners insurance review.

Best homeowners insurance in Oregon for coverage: Openly

Openly’s default homeowners policy goes significantly beyond those of many other insurers. Most notably, it offers guaranteed replacement cost coverage for the structure of your home. That means if your house is destroyed by a covered disaster, Openly will pay whatever it takes to rebuild it the way it was before, up to $5 million.

Plus, if your things are stolen or destroyed, Openly will pay enough for you to buy brand-new replacements, rather than paying less for older items that have lost value over time. It also covers your belongings on an “open perils” basis, paying for damage from anything except scenarios your policy excludes. Most home insurance policies cover damage only from causes specifically named in your policy.

Learn more with our Openly home insurance review.

Best homeowners insurance in Oregon for consumer experience: American Family and Nationwide

American Family receives fewer consumer complaints than expected for a company of its size. You may be able to customize your policy with optional add-ons such as identity theft, equipment breakdown or service line coverage, which pays for repairs to water, power or other underground lines that run to your house.

Homeowners may be able to save on their premiums by installing smart-home devices, bundling multiple policies or setting up automatic payments.

Get more information in our American Family homeowners insurance review.

The Nationwide website offers plenty of ways to manage your policy, including filing and tracking claims, paying bills, and getting quotes. The company also has a comprehensive and highly rated mobile app.

In addition, Nationwide’s customers have several ways to get assistance, such as reaching out to their agent or calling the company’s customer service hotline. Outside of business hours, they can use the Nationwide website to get proof of insurance, pay bills and schedule callbacks. A chatbot is also available to answer basic questions.

Learn more with our Nationwide homeowners insurance review.

Full list of the best homeowners insurance in Oregon

NerdWallet analyzed home insurance companies across the state to find the best home insurance in Oregon. Here are all of the insurers that received a NerdWallet star rating of 4.5 or higher:

» MORE: The best home insurance companies

How much does homeowners insurance cost in Oregon?

The average annual cost of home insurance in Oregon is $1,255. That’s 34% less than the national average of $1,915.

In most U.S. states, including Oregon, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.

In Oregon, those with poor credit pay an average of $2,720 per year for homeowners insurance, according to NerdWallet’s rate analysis. That’s 117% more than what those with good credit pay.

Average cost of homeowners insurance in Oregon by city

How much you pay for homeowners insurance in Oregon depends on where you live. For instance, the average cost of home insurance in Portland is $1,230 per year, while homeowners in Bend pay $1,350 per year, on average.

» MORE: What’s the average cost of homeowners insurance?

The cheapest home insurance in Oregon

Here are the insurers we found with average annual rates below the Oregon average of $1,255.

» MORE: The cheapest homeowners insurance

What to know about Oregon homeowners insurance

You may face certain risks when living in Oregon. Here are a few of the most common, along with steps you can take to insure your home properly against them.

Wildfires

Homeowners insurance in Oregon covers damage from wildfires, but it's important to review your policy to ensure you have enough coverage. Pay particular attention to your dwelling coverage limit. This is the amount the insurance company will pay to rebuild your house. A significant fire can destroy your whole home, so talk with your insurer to ensure you have enough coverage to rebuild if necessary. See our full guide to wildfire insurance.

Flooding

Standard homeowners insurance policies typically do not cover flood damage. As a result, homeowners in flood-prone areas may need to purchase separate flood insurance to protect their property.

To find out if you live in a high-risk area, check out the Federal Emergency Management Agency's flood maps or visit RiskFactor.com, a website from the nonprofit First Street Foundation. Even if your property is deemed low risk, it may be worthwhile to purchase flood insurance for extra peace of mind.

Remember that while you can purchase flood coverage anytime, there’s typically a 30-day waiting period before the insurance takes effect. Here’s more information about flood insurance and waiting periods.

» MORE: Why you might want flood insurance — even if it’s not required

Winter weather

A standard homeowners policy will cover most damage from winter storms. However, review your policy, as some types of winter weather damage may be excluded. For example, damage caused by the weight of snow may be covered, but damage to retaining walls or foundations may not be. Your insurance also likely does not cover damage caused by negligence. If you leave town and a winter storm comes through, you’re responsible for preventing burst pipes by keeping your heat at an adequate temperature or emptying your water lines.

Earthquakes and landslides

Homeowners insurance does not typically cover earthquake damage or other types of earth movement, such as landslides. If you live in an area with a higher risk for seismic activity, consider buying additional earthquake insurance. Be aware that earthquake insurance often has a separate deductible, which tends to be either 10% or 15% of the coverage on your policy. For example, if you have a 10% deductible on $200,000 of coverage, you would need to pay a $20,000 deductible for earthquake damage before your insurance kicks in.

» MORE: Home insurance calculator: Estimate your rate

Oregon insurance department

The Oregon Division of Financial Regulation oversees the state’s insurance industry and provides resources and support to homeowners looking for information on homeowners insurance in the state.

If you have an issue with your homeowners insurance provider, you can file a complaint with the division online or by mail or fax. For other questions, you can use the toll-free Consumer Hotline at 888-877-4894 or contact [email protected].

Amanda Shapland contributed to this story.