Homeowners insurance is a vital policy that protects your home and personal belongings in the event of 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 Oregon
It is important to choose an insurance provider who offers you the coverages that you need, at a cost you can afford. 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 ranked #1 for overall score, but Country Financial and Farmers also earned high marks for their service quality and affordability. These companies can offer you a variety discounts and options for your new or existing 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.
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. Your agent can help you increase your Oregon home coverage limits if your policy doesn't offer enough protection.
Selecting the Right Deductible
The amount you have to pay for a homeowners claim will be affected by the deductible. It's best to set a deductible that you can comfortably afford and is within your budget.
Your policy may have higher deductibles if you live in an area that is considered high risk by your insurer. If you can take advantage discounts or incentives, then your deductible is likely to be lower.
Taking advantage of available discounts is a great way to lower your homeowners insurance costs, so make sure to ask about any discounts that are available to you. Some discounts may be as small at 5% of the total premium but can add up to hundreds over time.
Your Rate Can Be Determined by Credit Checks
A good credit rating is essential in this highly competitive industry. Having good credit can help you qualify for a lower policy rate because lenders see you as a reliable customer who will make timely payments and keep up with your finances.
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 Find the Lowest Homeowners Insurance Rates 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.