- What is the average cost of renters insurance in Oregon?
- Best renters insurance company in Oregon: State Farm
- Cheapest renters insurance in Oregon
- Oregon renters insurance: The least and most expensive ZIP codes
- Renters insurance cost in Oregon by city
- How to save on renters insurance in Oregon
- Methodology
- FAQ: Oregon renters insurance
- Compare Oregon renters insurance rates with other states
What is the average cost of renters insurance in Oregon?
The average cost of renters insurance in Oregon is $273 per year. Rates vary depending on factors like your location, the amount of coverage you choose, your deductible, and your claims history.
"The number one thing that's most important is to get good liability. A renter's policy will default to $100,000 liability," Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. "It costs next to nothing to go from $100,000 to $500,000. I want to say it's probably 10 bucks a year. It's really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that's, at its core, what insurance is all about: the worst-case scenario."
| Average annual premium | $273 |
| Average monthly premium | $23 |
Best renters insurance company in Oregon: State Farm
State Farm ranks as the best renters insurance company in Oregon, earning a top score among the carriers we surveyed. Its average rate is $189 per year.
Allstate and Nationwide are also among the top insurance companies for renters insurance in Oregon.
Renters insurance rates vary significantly among providers, so you should compare options before choosing. You should also select a company with a good reputation to ensure it will be there if you have a claim.
To help you find the best renters insurance in Oregon, we evaluated average rates, NAIC complaints ratio, and AM Best financial ratings. We calculated the total Insurance.com score out of five using these factors.
Here are the best renters insurance companies in Oregon.
| Company | Average annual premium | AM Best | NAIC | Insurance.com rating |
|---|---|---|---|---|
| State Farm | $189 | A+ | 1.15 | 4.69 |
| Allstate | $223 | A+ | 1.26 | 4.65 |
| Nationwide | $193 | A | 1.34 | 4.58 |
| Farmers | $278 | A | 0.89 | 4.52 |
| American Family | $278 | A | 1.07 | 4.51 |
| Country Financial | $442 | A+ | 0.23 | 4.49 |
Cheapest renters insurance in Oregon
State Farm is the cheapest renters insurance company in Oregon, with an average annual premium of $187, based on our analysis.
Since renters insurance rates vary significantly from one provider to another, comparing quotes is the best way to find affordable coverage that fits your needs.
Below is the list of the cheapest renters insurance companies in Oregon and their average annual premiums.
| Company name | Average annual premium |
|---|---|
| State Farm | $187 |
| Nationwide | $193 |
| Oregon Mutual | $218 |
| Allstate | $223 |
| American Family | $278 |
| Farmers | $278 |
| Mutual of Enumclaw | $341 |
| Country Financial | $455 |
Oregon renters insurance: The least and most expensive ZIP codes
Where you live in Oregon directly affects the cost of your renters insurance. The most expensive ZIP code in Oregon is 97492, where the average annual premium is $293. This is $20 more than higher than the average rate.
On the other hand, 97003 is the least expensive ZIP code for renters insurance with an average annual premium of $258 a year.
| City | ZIP code | Average annual rate |
|---|---|---|
| Westfir | 97492 | $293 |
| Florence | 97439 | $292 |
| Mapleton | 97453 | $292 |
| Oakridge | 97463 | $292 |
| Swisshome | 97480 | $292 |
| Walton | 97490 | $292 |
| Westlake | 97493 | $292 |
| Blue River | 97413 | $291 |
| Blachly | 97412 | $290 |
| Noti | 97461 | $290 |
| City | ZIP code | Average annual rate |
|---|---|---|
| Beaverton | 97003 | $258 |
| Hillsboro | 97123 | $258 |
| North Plains | 97133 | $258 |
| Aloha | 97006 | $259 |
| Cornelius | 97113 | $259 |
| Banks | 97106 | $260 |
| Forest Grove | 97116 | $260 |
| Gaston | 97119 | $260 |
| Sherwood | 97140 | $260 |
| Timber | 97144 | $260 |
Renters insurance cost in Oregon by city
Renters insurance rates vary widely across cities in Oregon, driven by factors such as weather risks, crime rates, and other factors. To find the best deal in your city, you should consider these factors and compare quotes from multiple insurers before choosing a policy.
City Annual insurance premium
How to save on renters insurance in Oregon
There are several easy ways to lower the cost of renters insurance in Oregon without losing necessary coverage:
- Bundle your policies. Many insurance companies offer a discount if you buy renters and auto insurance together.
- Increase your deductible. Choosing a higher deductible will lower your monthly or yearly premium; just ensure you can afford it.
- Ask about discounts. Most providers offer savings for things like smoke alarms, security systems, or being claims-free.
- Compare quotes. Prices can vary widely between companies, so getting quotes from multiple insurers can help you find the best deal.
- Pay annually. Some insurers offer a small discount if you pay once a year instead of monthly.
Methodology
Insurance.com compared renters insurance rates provided by Quadrant Information Services for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. To rank the best insurance companies, we gathered AM Best financial stability ratings, where an A++ is the best possible score, and National Association of Insurance Commissioners (NAIC) complaint ratios, which compare the number of complaints a company receives to the anticipated complaint volume based on market share. These factors were used along with rates to find the best companies overall.
FAQ: Oregon renters insurance
Do I need renters insurance in Oregon?
Renters insurance isn't required by law, but your landlord may require you to purchase a policy as part of your lease agreement.
How much renters insurance do I need in Oregon?
You don't need any renters insurance by law, but when buying a policy you should ensure you have enough personal property coverage to cover all of your personal property at replacement cost.
