Average Cost of Homeowners Insurance in Oregon (2024)

The average cost of homeowners insurance in Oregon in 2024 is $1,039 per year. This is $1,384 less than the national average of $2,423.

Aside from the amount of coverage you get, credit rating has the largest impact on premiums. In Oregon, premiums can vary by as much as $2,124 based on credit rating. The insurance provider is another factor that can affect your premium costs. If your rates have recently increased, we've also analyzed the cheapest home insurance in Oregon to help you find a more affordable option.

In Oregon, the average homeowners insurance premium for policies with $250K in dwelling coverage, $125K in personal property coverage and $200K liability coverage stands at $1,039 per year. This figure falls below the national average of $2,423.

Determining how much coverage you need is essential, as it should be sufficient to rebuild your home and cover personal property after a total loss. For a policy with $100K in dwelling coverage, the annual premium is $663. If your property is larger and requires $500K in dwelling coverage, the annual premium increases to $1,699.

In Oregon, homeowners insurance premiums can vary significantly among providers for the same level of coverage. For instance, a policy with Capital Insurance Group might cost you $614 annually, while the same coverage with COUNTRY Financial could set you back $1,688. These variations are due to each insurer's unique method of assessing risk and calculating premiums.

For those shopping around, there are plenty of great providers in Oregon. Differences in underwriting can lead to a broad range of quotes, so it's wise to compare options.

In Oregon, homeowners with excellent credit pay an annual premium of $767 for homeowners insurance, which is $272 less than the state average. Conversely, those with poor credit face an average annual cost of $2,891, surging $1,852 above the average. This stark contrast exemplifies the influence of credit scores on insurance rates.

Although improving your credit score isn't an overnight fix, gradual enhancements can lead to lower insurance costs. In the meantime, it's worthwhile to shop around for the best rates. Oregonians can compare insurers quickly and find out which provider will save you the most on homeowners insurance.

The type of roof on your home influences your homeowners insurance premiums, though not as heavily as other factors. In Oregon, homes with tile roofing, known for its durability, generally see lower insurance costs. On the contrary, shake-treated roofs may require more maintenance and can lead to slightly higher premiums.

Construction materials also play a role in determining insurance rates, but again, the impact is minor compared to factors like coverage amount and credit score. Homes built with superior construction materials more resistant to perils like fire tend to secure more favorable insurance rates than those with standard frame construction. Use the filters for the table below to see how premiums change based on your home's materials.

Typically, insuring a new construction home in Oregon costs less than an existing home. The average premium for new construction is $646, which is $393 below the average for homes built around 2000. The table below shows the differences in premiums for new versus existing construction. Adjust the filter to match the coverage you need.

In Oregon, homeowners who have maintained a claim-free record for over five years can expect an average annual premium of $1,039 for their homeowners insurance. However, a single claim within the past five years can raise the annual premium to $1,291, while two claims may increase it to $1,453. These figures represent a $252 and $414 increase from the average, respectively, illustrating the financial benefit of a claims-free history.

For the cities we analyzed, we found that annual premiums range from $965 to $1022. Eugene has an annual premium of $983, which is $56 less than the state average. In contrast, Salem's premium is $1022, slightly below the average.

Location impacts premiums due to varying risks like weather and crime rates. City-based pricing is significant, but other factors like coverage amount and credit score also play a role.

Shopping for home insurance in Oregon can be a smooth process with the right approach. You can find a policy that fits your budget and provides the protection you need when you know the ropes. Here's how to find the best deal for you.

Homeowners can save on insurance costs by opting for a multipolicy bundle that includes home and auto coverage in Oregon. Oregonians can see a cost reduction of about 9% when bundling policies, with savings ranging from $60 to $304 per year.

Oregon homeowners can tap into insurance discounts to lower their premiums:

• Loyalty discount for long-term policyholders
• Protective devices discount for installed security systems
• Claims-free discount for homeowners without recent insurance claims

Remember to inquire about all eligible discounts when obtaining a quote to ensure you get the best deal.

When exploring homeowners insurance options in Oregon, it's smart to have a variety of resources at your fingertips. The following list offers a selection of tools and information to help homeowners make informed decisions:

• Oregon Division of Financial Regulation: Official state resource for insurance regulations.
• Affordable Home Insurance in Oregon: Find cost-effective options for your home.
• Oregon Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in Oregon: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.