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Homeowners Insurance in Oregon

Amy Danise

If you own a home in Oregon, you want the right insurance for everything from accidental kitchen fires to natural disasters like forest fires and floods. Here’s how to find the right Oregon home insurance.

Forest fires and wildfires

A standard home insurance policy covers fire, including damage from forest and wildfires.

Oregon floods

Heavy rains can cause rivers to quickly reach flood stage, such as the floods that led to evacuations in the Willamette Valley in April 2019. Some Oregon homeowners will remember the massive flood of 1996, one of the worst disasters ever in the state. That’s why it’s important to know that homeowners insurance generally doesn’t cover flooding. You’ll need to buy flood insurance if you want financial protection from flood damage.

Oregon earthquakes

Earthquakes may not typically be on the mind of Oregon homeowners, but the state does have dozens of fault lines, including one that runs under Portland. The earthquakes that shook California in July 2019 made Oregonians wonder if the Big One could ripple into their own state. If you want insurance for quakes you’ll need earthquake insurance. Homeowners insurance generally doesn’t cover quake damage. Nor does it cover tsunami damage -- that would fall under flood insurance.

What does Oregon homeowners insurance cover?

A typical Oregon homeowners insurance policy has six coverage types:

  1. Dwelling coverage for the house itself.
  2. Personal property coverage for belongings such as furniture, clothes, toys, rugs and kitchen items.
  3. Other structures coverage for things not attached to the house, such as garages, sheds and fences.
  4. Loss of use coverage for extra expenses when you can’t live at home due to damage that’s covered by the policy. These can include hotel, food, laundry and other costs.
  5. Personal liability coverage for injuries to others, including medical bills and lost wages. Liability coverage also covers property damage that you and members of your household accidentally cause to others. And it pays court costs if you’re sued because of an accident covered under the policy.
  6. Medical payments coverage in case people are hurt on your property. It can also cover injuries you accidentally cause to others that happen away from home.

How much is home insurance in Oregon?

The average premium for a common homeowners policy, called an HO-3, in Oregon is $659 a year, according to the National Association of Insurance Commissioners. That’s significantly less than the countrywide average of $1,192 a year.

20 largest home insurance companies in Oregon

Rank in Oregon Company Market share % in the state
1 State Farm 22.09
2 Farmers Insurance 15.81
3 Liberty Mutual 12.82
4 USAA 7.55
5 Allstate Corp. 7.1
6 COUNTRY Financial 5.22
7 American Family Insurance 5.01
8 Travelers 2.97
9 Nationwide 1.89
10 Mutual of Enumclaw 1.81
11 The Hartford 1.59
12 United Heritage Insurance 1.43
13 Chubb 1.39
14 MetLife 1.37
15 Progressive 1.32
16 Oregon Mutual 1.1
17 PEMCO Mutual Insurance Co. 1.08
18 Amica 1.05
19 Assurant 0.83
20 MAPFRE 0.81
Source: S&P Global Market Intelligence, based on homeowners multiple peril insurance market share in 2018.

What if I can’t find Oregon home insurance?

If you’ve been turned down for home insurance you may be able to buy coverage through the Oregon Fair Plan. The Fair Plan provides basic coverage for fire, windstorms, hail, explosion, riot or civil commotion, aircraft, vehicles, smoke, volcanic eruption, vandalism and malicious mischief.