In Salem, Oregon, Nationwide is the overall best and cheapest choice for home insurance. For those prioritizing customer service, American Family is the best. These companies cater to different needs and choosing the best cheap home insurance depends on your individual needs and preferences, like annual premium and coverage options.
Best and Cheapest Home Insurance in Salem, OR (2024)
Updated: November 29, 2024
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Best HomeInsuranceSalem, ORTable of Contents
Best Overall - Auto-Owners Insurance
Best for Service - Erie
Best Cheap - Auto-Owners Insurance
Cheapest Overall - Nationwide
Cheapest for High-Value Homes - Capital Insurance Group
Cheapest for New Homes - Nationwide
Why Trust MoneyGeek? We used data from Oregon's Department of Insurance and Quadrant Information Services to find the best home insurance in Salem.
Home insurance premiums in Salem are indicative of the most competitive estimates as of September 2024.
1,382,400Quotes Analyzed
8Companies Compared
Overview: Best Home Insurance Companies in Salem, OR
Nationwide is the best option in Salem, Oregon for home insurance with 100K dwelling coverage. Their MoneyGeek score is 91 out of 100 for this coverage level.
The scores for home insurance companies in Salem, Oregon range from 50 to 91. These figures reflect MoneyGeek's scoring system — insurers may receive different scores based on factors like your credit history and the age of your home.
Data filtered by:Results filtered by:
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Category:Best Overall
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Coverages:1 - $100K Dwelling
| Nationwide | 91 | $530 |
| State Farm | 85 | $674 |
| American Family | 85 | $680 |
| Farmers | 81 | $612 |
| Capital Insurance Group | 64 | $627 |
| Allstate | 62 | $906 |
| COUNTRY Financial | 50 | $1,175 |
Overall Best Home Insurance in Salem, OR
Nationwide is the best option in Salem, Oregon, for $100K dwelling coverage. The two best home insurance companies in Salem for $100K dwelling coverage are:
- Nationwide: MoneyGeek score of 91 out of 100 ($530 per year)
- State Farm: MoneyGeek score of 85 out of 100 ($674 per year)
Nationwide stands out as the best home insurance provider because it offers a balanced mix of affordability and robust coverage options, contributing significantly to its MoneyGeek score.
In Salem, Oregon, different companies offer various costs and service levels. Consider factors like customer service and coverage options, as they become important when you need to make claims.
Best OverallNationwide
MoneyGeek Score:
91/ of 100
Overview
Nationwide scores high in affordability and coverage, making it the best overall company. It offers comprehensive home insurance with cyber event/id theft and scheduled personal property coverages. Discounts like bundle and protective device help save money. You can qualify for a discount if your home has smoke detectors or alarms.
Nationwide provides useful coverages like cyber event/ID theft, which protects your personal data. Scheduled personal property covers high-value items like jewelry. Guaranteed replacement cost helps rebuild your home if needed. These coverages offer valuable protection for homeowners.
Best Home Insurance for Customer Service in Salem, OR
American Family is the best option for home insurance with the best customer service in Salem, Oregon, for $100K dwelling coverage. Here's a look at the top two providers:
- American Family: MoneyGeek score of 87 out of 100 ($680 per year)
- Nationwide: MoneyGeek score of 83 out of 100 ($530 per year)
American Family leads due to its standout customer satisfaction score. They prioritize your needs and make you feel valued as a policyholder. Choosing American Family ensures a well-rounded approach to protecting your home.
Excellent service in home insurance includes quick responses to claims and knowledgeable support from representatives.
Best for Service QualityAmerican Family Insurance
MoneyGeek Score:
87/ of 100
Overview
American Family scores high due to its customer satisfaction and coverage. It offers comprehensive home insurance with equipment breakdown and water damage coverages. You can save with discounts like smart home and paperless. Smart home discounts apply if you have a qualifying device.
American Family's equipment breakdown covers appliance damage, which is useful if your devices break. Water damage coverage helps with leaks you can't see, like those in walls. Matching siding coverage ensures your siding matches after damage, keeping your home looking nice.
Best Cheap Home Insurance in Salem, OR
Nationwide is the best cheap home insurance option in Salem, Oregon. The top two best cheap insurance providers for $100K dwelling coverage are:
- Nationwide: MoneyGeek score of 95 out of 100 ($530 per year)
- State Farm: MoneyGeek score of 85 out of 100 ($674 per year)
Nationwide stands out due to its high coverage score, making it a reliable choice despite its ranking. However, opting for cheap policies often means lower coverage, which might not be enough if an accident occurs. In instances where saving on premiums is a priority, considering the cheapest homeowner insurance companies may be beneficial. Best cheap insurance means balancing cost and coverage, unlike just seeking the lowest price.
Best CheapNationwide
MoneyGeek Score:
95/ of 100
Overview
Nationwide is the best cheap company with a high MoneyGeek score, thanks to its affordability. It offers comprehensive home insurance coverage, including cyber event/ID theft and scheduled personal property. You can save with discounts like bundle, which gives a discount when you combine home and auto insurance.
Nationwide offers useful coverages like guaranteed replacement cost, which helps rebuild your home after a loss. Service line protection covers damage to underground lines. Equipment breakdown covers repairs for mechanical issues. These coverages help protect your home and save money.
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Rates updated:
Dec 23, 2024
Location is one of many factors that affect homeowners insurance in Salem. Comparing rates is the best way to save, but it can take up to 15 minutes per company. Comparing three or more could take over an hour. MoneyGeek's home insurance calculator saves you time by focusing on key factors. Just enter your age, dwelling coverage, credit score, deductible, liability coverage and a few other factors for a rate estimate.
Cheapest Home Insurance in Salem, OR
Nationwide is the best option in Salem, Oregon, for home insurance affordability. The key factor affecting home insurance premiums is the dwelling coverage selected.
- For 100K Dwelling Coverage: Nationwide: $530 per year
- For 250K Dwelling Coverage: Capital Insurance Group: $872 per year
- For 500K Dwelling Coverage: Capital Insurance Group: $1,254 per year
Nationwide shines with the lowest cost in Salem and a high score of 95. Capital Insurance Group is the cheapest for 250K and 500K coverage but doesn't have the highest score. Buying the cheapest homeowners insurance in Oregon aids in financial management by reducing expenses.
Data filtered by:Results filtered by:
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Coverages:$100K Dwelling
| Nationwide | $530 |
| Farmers | $612 |
| Capital Insurance Group | $627 |
| State Farm | $674 |
| American Family | $680 |
| Allstate | $906 |
| COUNTRY Financial | $1,175 |
Cheapest Home Insurance for High-Value Homes in Salem, OR
Capital Insurance Group is the best option for high-value homes in Salem, Oregon. Homes that cost more to replace need high dwelling coverage, which means home insurance costs increase.
- Cheapest for $750K Dwelling Coverage: Capital Insurance Group: $1,629 per year
- Cheapest for $1M Dwelling Coverage: Capital Insurance Group: $1,945 per year
Capital Insurance Group stands out in Salem for its competitive rates, making it a top choice. While it's the most affordable, its overall MoneyGeek score might differ, showing that affordability isn't the only aspect to consider for home insurance.
Data filtered by:Results filtered by:
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Coverages:1 - 750K dwelling
| Capital Insurance Group | $1,629 |
| Nationwide | $2,368 |
| American Family | $2,459 |
| Allstate | $2,482 |
| State Farm | $2,796 |
| Farmers | $2,911 |
| COUNTRY Financial | $4,826 |
Cheapest Home Insurance for New Homes in Salem, OR
For new homes in Salem, Oregon, Nationwide offers the cheapest home insurance option.
- Cheapest for $100K Dwelling Coverage: Nationwide: $286 per year
- Cheapest for $250K Dwelling Coverage: Nationwide: $414 per year
- Cheapest for $500K Dwelling Coverage: Nationwide: $647 per year
Nationwide stands out as the cheapest in Salem due to its affordable rates for new-home insurance. Even though its low cost is attractive, it might not be the best according to MoneyGeek scores. You should also ensure that you are adequately covered.
Data filtered by:Results filtered by:
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Coverages:1 - $100K Dwelling
| Nationwide | $286 |
| Capital Insurance Group | $348 |
| State Farm | $404 |
| American Family | $449 |
| Farmers | $454 |
| COUNTRY Financial | $708 |
| Allstate | $862 |
How to Find the Best Home Insurance for You in Salem, OR
The best cheap homeowners insurance providers balance quality and cost, offering great service and coverage with affordable premiums. Consider other factors besides premiums like coverage, customer service, and deductibles. Follow these steps to get best cheap home insurance:
- 1
Evaluate Your Insurance Needs
Understand the specifics of your home in Salem, Oregon, to determine how much home insurance coverage you need. Consider rebuilding costs, personal property value and liability needs.
- 2
Compare Different Providers
Look into insurance companies serving Salem, Oregon. Prioritize those with good financial health, positive customer feedback and a history of reliable service.
- 3
Compare Coverage and Costs
After identifying needed coverages, compare home insurance quotes. In Salem, Oregon, premiums for $100K dwelling coverage range from $530 to $906 annually.
- 4
Ask About Discounts
Inquire with each insurer about potential discounts, like those for bundling, adding security features or having no claims history.
- 5
Increase Your Deductible
Opting for a higher home insurance deductible can reduce your premium. Ensure it's an amount you can manage if a claim arises.
- 6
Improve Home Security
Enhancing home security with alarm systems and sturdy locks can lower your home's risk profile and potentially decrease insurance costs.
- 7
Maintain Good Credit
In Salem, Oregon, maintaining a solid credit score can influence your insurance rates. Pay bills promptly and minimize outstanding debt.
- 8
Bundle Policies
Think about combining your homeowners insurance with other policies like auto insurance. This can result in considerable discounts and savings.
FAQ: Best Cheap Home Insurance in Salem, OR
The best cheap home insurance provider for you in Salem depends on your coverage needs and budget. Get answers to some of the most commonly asked questions about best cheap insurance rates in Salem, Oregon.
How much is home insurance in Salem, Oregon, on average?
The average cost of home insurance in Salem, Oregon is $604.
What is the cheapest home insurance company in Salem, Oregon?
Nationwide offers the cheapest home insurance in Salem, Oregon with an annual premium of $530.
What is the best home insurance company in Salem, Oregon?
The best home insurance in Oregon for Salem residents is provided by Nationwide, with a MoneyGeek score of 91 out of 100.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.