Best and Cheapest Renters Insurance in Oregon (2024)

State Farm is the best renters insurance provider for $20K in personal property coverage, with a MoneyGeek score of 91 out of 100 and an average annual premium of $99. While State Farm is the best overall, the best option depends on your specific needs. For instance, Nationwide is a solid choice for those who prioritize service quality.

Make sure to evaluate your unique requirements before making a decision.

State Farm is the best renters insurance provider in Oregon, with a MoneyGeek score of 91 out of 100 and an average annual premium of $99 for $20,000 in personal property coverage. The following providers are the two best renters insurance options in Oregon for this policy:

• State Farm: MoneyGeek score of 91 out of 100 ($99 per year)
• Capital Insurance Group: MoneyGeek score of 84 out of 100 ($92 per year)

While State Farm is not the cheapest option, it maintains a good balance between customer satisfaction and affordability. However, your best choice will still depend on your needs.

Capital Insurance Group offers the cheapest renters insurance in Oregon, with an average annual premium of $92 for $20K in personal property coverage. The following providers are the top two cheapest in Oregon for $20K in personal property coverage and a $1,000 deductible:

• Capital Insurance Group: $92 per year
• State Farm: $99 per year

Personal property coverage helps protect your belongings, such as furniture, electronics and clothing, if they are damaged or stolen. Cheap renters insurance policies often come with low personal property coverage limits. Increasing personal property coverage can lead to higher monthly costs, but it offers better protection if you have many personal belongings.

In Oregon, Capital Insurance Group is the cheapest renters insurance company for $20K in personal property coverage with a $2,000 deductible, with an average annual premium of $77. For the same coverage with a $2,000 deductible, the following providers are the top two cheapest:

• Capital Insurance Group: $77 per year
• State Farm: $99 per year

A deductible is the amount you pay out of pocket before your insurance covers the rest. It directly impacts your premium, with higher deductibles typically meaning lower premiums. Take a look at how rates change using the table below.

In Oregon, Nationwide is the best renters insurance company for service quality for $20K in personal property coverage, with an average annual premium of $143. The following providers are the top two best options in Oregon for those who value excellent customer service and need $20K in personal property coverage:

• Nationwide: MoneyGeek score of 92 out of 100 ($143 per year)
• American Family: MoneyGeek score of 85 out of 100 ($141 per year)

Great customer service in renters insurance means prompt and clear communication, ensuring renters feel supported and valued. When you make a claim, efficient customer service means you quickly receive the help you need, reducing any inconvenience.

In Oregon, State Farm is the best renters insurance company for those who need $100K in personal property coverage, with an average annual premium of $223. For $100K in personal property coverage, the following providers are the top two best options in Oregon:

• State Farm: MoneyGeek score of 93 out of 100 ($223 per year)
• Nationwide: MoneyGeek score of 87 out of 100 ($290 per year)

Renters with more personal belongings need higher personal property coverage, which protects items like electronics, furniture and clothing. Higher personal property coverage often comes at a higher cost. It's important to find a provider who balances cost and great service because you want good coverage to protect many valuables.

In Oregon, State Farm is the best renters insurance company for those with military backgrounds. It has an average annual premium of $99 for $20K in personal property coverage. The following providers are the top two best options in Oregon for military members who need $20K in personal property coverage:

• State Farm: MoneyGeek score of 91 out of 100 ($99 per year)
• Capital Insurance Group: MoneyGeek score of 84 out of 100 ($92 per year)

For military members, finding the best provider means prioritizing customer service and affordability. It’s important to balance these factors to ensure you get protection that aligns well with your specific needs and lifestyle.

In Oregon, State Farm is the best renters insurance company for those with poor credit, with an average annual premium of $192. The following providers are the top two best choices in Oregon for those with poor credit:

• State Farm: MoneyGeek score of 90 out of 100 ($192 per year)
• Nationwide: MoneyGeek score of 89 out of 100 ($222 per year)

Rates for those with poor credit are often higher since they pose a greater risk to providers. Insurance companies view individuals with poor credit as more likely to file claims. However, you can take steps to improve your credit and take advantage of available discounts to lower your rates.

The average cost of renters insurance in Oregon is $138 annually or about $11 monthly. This rate is $8 cheaper than the national average of $146 annually. These rates are based on a renters insurance policy with $20,000 in personal property limits, $100,000 in liability limits and a $1,000 deductible.

Renters should remember that the average cost of renters insurance in Oregon may vary greatly depending on the amount of personal property coverage they purchase. Personal property coverage protects your belongings in case of damage or theft. Use the tool below to get an estimate based on your needs.

The average cost for renters insurance varies not only by state but also by city. For example, the average cost in Eugene, Oregon, is $146 compared to $132 in Hillsboro. These rates are based on a renters insurance policy with $20,000 in personal property limits, $100,000 in liability limits, a $1,000 deductible and a good credit score. Review the table below to see the average cost in your city.

Multiple factors impact the cost of renters insurance in Oregon, including location, coverage amount and deductible. Understanding what influences the cost of renters insurance is crucial for making informed decisions and managing expenses effectively. Below are some key factors that affect renters insurance costs:

• Location: Urban areas often have higher premiums due to increased risks like theft.
• Coverage amount: Higher coverage limits result in higher premiums
• Deductible: Lower deductibles increase premiums because the insurer takes on more risk.
• Claims history: A history of frequent claims can lead to higher insurance costs.
• Credit score: Lower credit scores can result in higher premiums due to perceived risk.

Determining your personal property coverage involves creating a personal inventory of all your belongings at home. A personal inventory is a detailed list of your personal items, including descriptions and estimated values. Follow these steps to create a personal inventory and ensure you have adequate coverage:

1. Categorize Items: Group your belongings into categories such as electronics, furniture, clothing and kitchenware
2. Document Details: Write down descriptions, purchase dates and estimated values for each item. Take photos or videos for visual records.
3. Use Inventory Apps: Consider using apps designed for home inventories to streamline the process.
4. Store Safely: Keep your inventory list and visual records in a safe place, such as cloud storage or a fireproof safe.
5. Update Regularly: Review and update your inventory at least once a year or whenever you make significant purchases.

Renters insurance primarily protects your personal belongings from damage, but it also extends to other areas, such as liability and additional living expenses. Here's what a typical policy may cover:

• Personal Property Coverage: Safeguards your possessions against covered perils like theft to help you replace them.
• Personal Liability Coverage: Protects you from legal responsibility for injuries or damage to others, such as if a guest is injured in your rental unit.
• Loss of Use Coverage: Assists with additional living expenses. For example, if your rental is uninhabitable due to a fire, loss of use coverage can cover temporary housing costs.

Renters insurance typically applies to specific events, like theft, vandalism or specific natural disasters. Here's what most policies cover:

• Fire or lightning
• Windstorm or hail
• Explosions
• Riots
• Damage caused by aircraft
• Damage caused by vehicles
• Smoke damage
• Vandalism
• Theft
• Volcanic eruption
• Falling objects
• Weight of ice, snow or sleet
• Water-related damage from home utilities
• Electrical surge damage

Renters insurance does not cover everything; for instance, it typically excludes damages from natural disasters like floods and damages caused by pests or rodents. Here are some common exclusions:

• Natural Disasters: Floods are usually not covered.
• Pest Damage: Damages caused by pests or rodents are typically excluded.
• High-Value Items: Items like jewelry may have limited coverage.
• Roommate Property: Your roommate’s belongings are not covered under your policy.
• Business Equipment: Equipment used for business is often not included.

Choosing the best renters insurance provider depends on your individual needs. To help you navigate your options, we've answered some of the most frequently asked questions about renters insurance.