Oregon Home Insurance - What's Happening
Oregon home insurance premiums, on average, remain the lowest in the country. It's that simple. Homeowners in the state average paying $431 a year, nearly $400 less than the national average. Why? Extreme weather events just aren't common, which helps when basic Oregon home insurance rates are set.
Those rates are set by the state and provide a baseline for Oregon homeowners insurance providers. Individual factors, such as how close your home is to a fire department or how old your roof is, come into play when providers give you quotes for coverage.
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Curious about car insurance? Click here to learn more about auto insurance in Oregon.
Oregon Home Insurance Report Card
We get that buying home insurance is complicated. We've demystified it by assigning each state grades based on information collected from HomeInsurance.com customers about their houses. It's a coloring-outside-the-lines approach that shows how factors about a home can affect what you pay for coverage.
Home (Grades related to the house itself)
Oregon homes average 258 fewer square feet than the nation. They're also a year newer than the U.S. average. Older homes can have costly or hard-to-find materials if they need to be rebuilt.
Average year built
Newer homes have fewer risks associated with old plumbing, electrical, and other systems. The average year a home in Oregon was built in 1981.
Average home size
If your home is destroyed, its square footage will figure into the calculation for the replacement cost. Only six states had a lower average than Oregon.
Average replacement cost
Oregon's average is slightly lower than the nation. It's a result of newer homes in the state, coupled with modest square footage.
% of homes with sump pump
Oregon's 4% is considerably lower than the national average of 15%. A sump pump can protect against basement flooding.
Property (Factors related to the property and location)
Only 1.4% of homeowners who bought policies through HomeInsurance.com in Q2 have swimming pools. Homeowners insurance can be more expensive in places where that number is higher. Nationally, 5.1% of homes have one. The cost of items such as sheds and detached garages on homeowners' properties in Oregon is $18,893. That's $7,262 lower than nationally.
Do you store all-terrain vehicles or snowmobiles on your property in Oregon? Home insurance quotes can rise because of this. Oregon (3.4%) rates higher than the nation (0.8%) on this one.
Bonus (Other factors that influence your home insurance premiums)
% of homes with fire extinguishers
Their presence can keep a household accident from becoming a full-fledged fire. Oregon (94%) rates a bit higher than the national average (91.4%).
% of homes with dead bolt locks on exterior doors
Oregon (97%) outpaces the nation (95.9%) for this break-in prevention measure.
% of homes with smoke detectors
The National Fire Protection Association recommends one in every bedroom of your home. Oregon (97%) trails the national average (98.3%).
% of homes with security alarms
Nearly 1 in 5 American homes have one installed, which bolster defenses against burglary. They're in 12% of Oregon homes.
Overall Grade - B (blazing in the right trail)
Homes are smaller than the national average in Oregon. Home insurance carriers like that. It can lead to lower replacement cost if your home is destroyed. Few homeowners have swimming pools on their property in Oregon. This is another advantage. But Oregon homeowners still can do more.