A homeowner's policy is essential to protect your home and belongings from theft or damage. A good policy can help you pay for additional living expenses in the event of a disaster, or any other covered loss. This is why it's important to consider your needs and choose a homeowners policy that fits your unique situation.
Best Home Insurance Companies of Oregon
The best home insurance company for your needs is the one that offers the coverages you need at a price you can afford. MoneyGeek assessed the top Oregon home insurance providers based on their affordability, claim experience, customer service and financial stability.
American Family ranked #1 for overall score, but Country Financial and Farmers also earned high marks for their service quality and affordability. These companies provide a wide range of discounts and coverage options to suit your needs, whether you are in the market to purchase a new insurance policy or switching to another company.
Country Financial provides a special optional earthquake insurance option that can help protect your home, possessions, and family from natural disasters. This coverage may or may not apply to all areas.
It is possible to find a policy that meets your needs by comparing insurance quotes and working with an experienced agent. You can increase the coverage limits of your Oregon home insurance policy if you need to.
The Right Deductible
Your homeowners' insurance deductible can affect how much you end up paying out-of pocket when filing a claim. The deductible should be one you can comfortably pay and fit into your budget.
If you reside in a house that insurers consider high-risk, your insurance policy could include a higher standard deductible. If you can take advantage discounts or incentives, then your deductible is likely to be lower.
Ask about discounts available. This is an excellent way to reduce your homeowners insurance cost. Some discounts may be as small at 5% of the total premium but can add up to hundreds over time.
Your rate can be affected by credit checks
In a highly competitive market, it is crucial to have a positive credit rating. Credit score can be used to qualify you for a better rate. This is because the lender sees you as someone who will pay promptly and stay on top of their finances.
You'll also find that most Oregon homeowners insurance companies will run a credit check before approving your policy. They want to make sure that you are capable of handling the risk of a possible claim.
How to Get the Lowest Homeowners Insurance Prices in Oregon
Oregon's average cost for homeowners insurance is lower than that of the rest of the country, so finding a policy to fit your budget shouldn't be a problem. Your local agent can also help you learn how to lower your insurance premium.