A homeowners insurance policy is vital to protect you home and possessions against theft or damage. You can also get help with additional living costs if you need to move because of a natural disaster or 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 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 was ranked number one for the overall score. Country Financial and Farmers were also highly rated for their service and affordability. You can choose from a range discounts and policies, regardless of whether you want to buy a new policy.
Country Financial provides a special optional earthquake insurance option that can help protect your home, possessions, and family from natural disasters. However, this coverage may not be available in all areas.
If you want to get the most coverage, compare quotes from various insurance companies. Also work with an expert agent who can help you determine what is right for your situation. Talk to your agent if you want more coverage than your current policy offers.
Selecting the Right Deductible
Your homeowners' insurance deductible can affect how much you end up paying out-of pocket when filing a claim. You should choose a deductible within your budget and one that you are able to afford.
If you live in a home that's considered high-risk by insurers, your policy might include higher deductibles than average. 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 of these discounts are as low as 5%, but could save you up to hundreds of dollars.
Credit Checks Can Make or Break Your Rate
It is important to maintain a high credit score in the homeowners insurance market because it is highly competitive. A good credit rating can help you qualify to receive a lower rate on your homeowners insurance policy because lenders view you as a customer who is reliable and will pay their bills on time.
Before approving a policy, most Oregon homeowners insurers will perform a credit check. They want to make sure that you are capable of handling the risk of a possible claim.
How to get the lowest home insurance 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. To learn more about ways to reduce your premium, you should speak to your local insurance agent.