The policy protects you and your belongings in case of damage or theft. The right policy can also help you cover additional living expenses if you have to relocate because of a disaster or another covered loss. Consider your situation and your needs when choosing a homeowners insurance policy.
Best Home Insurance Companies in Oregon
You should choose a home insurance provider that provides the coverages and prices you require. MoneyGeek evaluated the affordability, claims experience and customer satisfaction of Oregon's top home insurance companies to determine which one was best for you.
American Family won the highest score for its overall service and affordability. Country Financial and Farmers came in second and third place respectively. Whether you're in the market for a new policy or want to switch, these companies offer a variety of coverages and discounts to meet your needs.
For instance, Country Financial offers a rare optional earthquake coverage option, which helps protect your home and possessions from the dangers of natural disasters. This coverage might not be available everywhere.
Comparing quotes from multiple insurance companies is a great way to get the right policy. You should also work with an agent in order to determine how much coverage you need. If you need more coverage than what's offered by your current policy, talk to your agent about increasing the limits on your Oregon home insurance.
The Right Deductible
The homeowners insurance deductible you choose will determine how much money you'll pay to settle a claim. The deductible should be one you can comfortably pay and fit into your budget.
Your policy may have higher deductibles if you live in an area that is considered high risk by your insurer. If you use discounts or other incentives, your deductible may be reduced.
You can reduce the cost of your homeowners' insurance by taking advantage of any available discounts. Be sure to inquire about these discounts. Some of these discounts are as low as 5%, but could save you up to hundreds of dollars.
Your rate can be affected by credit checks
A good credit rating is essential in this highly competitive industry. Good credit will help you get a cheaper policy rate, as lenders consider you a responsible customer who pays on time and manages their finances well.
Many Oregon homeowners insurance providers will also perform a check on your credit before approving the policy. They want to make sure that you are capable of handling the risk of a possible claim.
How to Get Lowest Homeowners Insurance Costs 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.