A homeowners insurance policy is vital to protect you home and possessions against 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. 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. To determine this, MoneyGeek compared the top home insurance providers in Oregon by evaluating their affordability, claims experience, customer satisfaction and financial stability.
American Family won the highest score for its overall service and affordability. Country Financial and Farmers came in second and third place respectively. If you're looking for a policy, or switching companies, these companies have a range of coverages to fit your needs.
Country Financial, for example, offers an optional option to cover your home from natural disasters. However, the coverage may not be offered 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.
What is the Best Deductible?
The homeowners insurance deductible you choose will determine how much money you'll pay to settle a claim. Set a deductible you can afford comfortably and that fits your budget.
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.
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 can be as small as 5% of your total premium, but they could save you hundreds of dollars over time.
Credit Checks can Make or Break Your Rate
In a highly competitive market, it is crucial to have a positive credit rating. 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.
Most Oregon homeowners' insurance companies will also run a credit report before they approve your policy. This is because they want to know that you can handle the risk of a claim should one occur.
How to Get Lowest Homeowners Insurance Costs in Oregon
The average cost of homeowners insurance in Oregon is significantly less than the national average, so it's not difficult to find a policy that will fit your budget. You should also check with your local insurance agent to learn more about how to reduce your premium.