Renters Insurance in Oregon
Living in Oregon certainly has its perks with beautiful rivers and mountains, making it one of the most picturesque states in the country. Portland and Eugene are the two biggest cities within the state, where property rental is quite common, although this is also true for other cities in the Beaver State.
If you’re renting in Oregon, renters insurance is something you might want to look at. There are many benefits to taking out a renters policy – such as the fact that the average cost of renters insurance in Oregon is cheaper than the national average.
There’s quite a bit of competition between different insurance companies, which means prices are likely far lower than you think, and some of the perks on offer are simply amazing.
With so many different renters insurance companies to choose from in Oregon, finding the right insurance company for you can be quite a bit of work.
We reviewed the best renters insurance companies listing some of their features to help you narrow down your selection.
The Best Cheap Renters Insurance In Oregon
Here are the best providers of renters insurance in Oregon:
- 🏆 Lemonade: Best Overall Renters Insurance in Oregon
- Geico: Best for Access to Local Agents
- Country: Best for Basic Renters Coverage
- American Family: Best for Optional Coverage
- Safeco: Best for 24/7 Claim Filing
- USAA: Best Renters Insurance for Military Families
- State Farm: Best for Bundling Insurance Policies
- Farmers Insurance: Best for Personalized Service
- Travelers: Best for Additional Improvements Coverage
- Metlife: Best for Flexible Payments
- Assurant: Best for Coverage for Roommates
Lemonade offers low-cost renters insurance policies. You can take out a new policy and get paid for claims almost instantly. You can get a quote using their AI-powered (Artificial Intelligence) bot, Maya. You can do everything through their app, which is available for both Android and iOS smartphones, both of which are highly rated. Lemonade is also designed for social impact, supporting different causes with the left-over profit they make.
- Claims are paid in 3 minutes
- Policies are crafted by their AI assistant
- Lemonade supports a number of social causes
Geico aims to make taking out a renters insurance policy easy. You can get a quote online through their website or by meeting a local agent who’ll be able to walk you through the entire process. There are a few different discounts available, including discounts for taking out multiple policies with Geico, having a home security system installed, and having sprinklers or a fire alarm. If the standard policy does not cover everything you need it to, there are add-ons available to increase coverage.
- Local agents available to help you choose the right insurance policy
- Different discounts available
- Add-ons to increase policy coverage
Country Financial offers two coverage options – basic and premier. A basic coverage policy can protect you from a few different risks. Premier adds protection from power surges, damages from spilled paint, and antique breakages. You can also choose how claims are settled with options, including actual cash value or replacement cost. If the standard and premium coverage is not enough, you can also include add-ons to your policy with a few different ones to choose from.
- Basic and premium coverage options
- Add-ons available
- Different claim settlement options
American Family’s standard renters insurance covers personal protection and liability as well as loss of use. If this doesn’t quite cover everything you need it to, there’s a number of optional coverages, including pet insurance, travel protection, protection for home-based businesses, and identity theft. With each renewal, you can also expect a reduction in the payable deductible with $100 wiped off on the very first day.
- Diminishing deductible
- Different optional coverages available
- Discounts available including autopay and property security features
Safeco offers 24/7 claim filing through their website. There are different ways to save – from opting for a higher deductible, paying the insurance bill in full, and bundling policies with them. If the standard coverage offered by Safeco is not enough, you can add other coverage options, including Identity Recovery, Valuable Articles, and Personal Property Replacement Cost Protection.
- 24/7 claim filing
- Different ways to save money
- Multiple add-ons available to increase protection
USAA offers renters insurance that includes many additional protections as standard. These include coverages for floods and earthquakes, helping you put your mind at rest that you’re covered for such events. You can also choose the type of coverage you want to help you customize your insurance policy to best fit your requirements. USAA renters insurance also covers your belongings wherever they are in the world – perfect for those planning a move or travel.
- Customizable policies
- Includes different add-ons as standard
- Worldwide coverage
State Farm offers a few different insurance policies which you can bundle together with your renters insurance to save money. If you’re looking to get a quote from State Farm, they advise having some information ready, including the start date of the policy, the total value of the belongings you want to insure, and safety features. Their website is quite informative and can provide you with the information you need to get the right State Farm policy.
- Bundle policies to save money
- Inline checklist to help you get the right coverage
- Different discounts available
Farmers Insurance offers personalized services through their agents who can walk you through the process of getting a renters insurance quote or even file a claim. Their policies can be enhanced through a number of add-ons, including replacement cost coverage and identity shield. If you’re looking to save some money, make sure you check out their list of discounts that includes multi-policy and claim-free discounts.
- Personalized service by talking to a Farmers Insurance agent
- Different add-ons available including protection from identity theft
- Different discounts available
A renters insurance policy from Travelers covers personal property and liability as well as medical payments and additional living expenses. You can also claim up to 10% of any improvements you carry out on the rented property should something happen. There are also additional coverage options should you want to be further protected from incidents that might happen.
- Bundle policies to save on premiums
- Additional coverage available
- 10% of the cost of improvements covered by standard
MetLife offers renters insurance policies that come with flexible payment terms and 24/7 claims support. You can customize your policy by choosing the coverage limit, which ranges from $5,000 to $15,000. They also offer specialty packages to cover your most valuable items with bonus coverage included that pays if you break or lose something. To get a quote, you can give them a call or fill in an online form.
- Specialty packages available
- Bonus coverage covers loss and breakages
- Customizable policies
Assurant Renters aim to make your life easy by including a few different perks along with their renters insurance policies. If your landlord requires proof of insurance, they’ll happily deliver it straight to your doorstep, and if your roommate is nice (or not), you can add them to your policy for free. There are a few different options available, and you can get everything sorted online.
- Add roommate to your policy for free
- Multiple coverage options available
- Policies come with a few additional perks
Why Getting Renters Insurance in Oregon Is A Good Idea
Getting an insurance policy that is specifically designed for renters in Oregon can save you from many troubles should something happen. With natural disasters like windstorms affecting the region every fall and winter, knowing that the cost of replacing your personal property could be covered could give you that extra layer of financial security.
While you may think that your landlord’s home insurance would cover things like damage caused by vandalism or house fire, that’s not actually the case. Homeowners insurance, which your landlord should have, will protect the building itself – and may cover the items they provided at the start of your tenancy (like carpets, for example).
But if anything was to happen to your belongings (your laptop, TV, couch), you’d be the one who would need to pay for fixing or replacing them – not your landlord. Renters insurance can help cover these costs – as well as protect you in a number of other ways.
Not only does a renters insurance policy offer financial protection, should your personal property get damaged by vandalism, natural disasters (like windstorms), or a fire, but it also offers you liability coverage as well as coverage for medical expenses as well as other perks.
What Does Renters Insurance In Oregon Cover?
Do keep in mind that what a policy covers can change from one company to the next. This makes it important to understand what you’re signing up for before committing to any one specific company or policy. When looking at policies, aside from coverage, you should also consider the coverage limit and the policy’s deductibles. Having said this, most insurance policies cover four basic things at the very least.
Personal Property Coverage
Personal Property Coverage covers damage or loss of personal belongings. Typically these will include clothing, furniture, electronics, and the likes. Items of high-value are usually not included with specific riders required to cover such things as jewelry.
Personal Liability Coverage
Personal Liability Coverage covers you against liability from damage done to 3rd parties, including medical bills, should a guest get injured while inside your rented property. For this to kick in, you need to be found guilty and liable for the damage caused.
Additional Living Expenses Coverage (ALE)/ Loss of use
Additional Living Expenses coverage will cover the costs of alternative accommodation should the rented property become uninhabitable. This can allow you to continue living your life until the property is fixed, and you can move back in.
Medical Payments Coverage
Medical Payments Coverage will cover minor medical bills without assuming any liability or fault. The amount covered will vary from one policy to another. Make sure you read the fine print to understand what your options are should something happen.
What’s the best rental insurance in Oregon?
The best Oregan rental insurance company is going to be the one that offers the best policy for you. With each company focusing on different things – from how much you can customize a policy to the lowest price possible to eas of use, there is no one best company for everyone. Make sure you take the time to understand what is important to you, then get quotes from different companies and compare what is being offered to you.
Who has the most affordable renters insurance in Oregon?
Lemonade and Liberty Mutual offer renters insurance policies that start from just $5.00 a month. Do keep in mind that the monthly cost is not everything. Deductibles and coverage limits can make a considerable difference in how much you pay. The value of the insured items will also have an effect on your premium.
Protect Your Finances With Renters Insurance in Oregon
Getting a renters insurance policy does not have to leave your wallet dry – there are plenty of very affordable renters insurance options in Oregon. While we don’t like to imagine the scenario of something going wrong and our personal property damaged or destroyed, things happen. While you don’t have to sit around waiting for it – protecting yourself financially from the unexpected is always a good idea.