A homeowners insurance policy is vital to protect you home and possessions against theft or damage. The right policy can also help you cover additional living expenses if you have to relocate because of a disaster or another covered loss. You should carefully consider your individual needs before choosing the right homeowners policy.
Best Home Insurance Companies In Oregon
To determine the best company to serve your needs, you should look for one that offers all the coverages you want at a reasonable price. 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 took the top spot for the overall rating, but Country Financial and Farmers received high marks as well for their affordability and service quality. These companies can offer you a variety discounts and options for your new or existing policy.
Country Financial, as an example, offers a very rare option of earthquake coverage, which can protect your property and home against natural disasters. This coverage may or may not apply to all areas.
You can find a good policy by comparing quotes from several insurance companies and working with an agent to ensure you have the right amount of coverage for your needs. Ask your agent to increase the limits of your Oregon homeowners insurance if you require more coverage.
Selecting the Right Deductible
The amount you have to pay for a homeowners claim will be affected by the deductible. Set a deductible you can afford comfortably and that fits your budget.
If your home is considered a high-risk property by insurance companies, you may see a higher than normal deductible on your policy. In many cases, your deductible will be lower if you take advantage of discounts or other incentives.
Take advantage of discounts to save money on your homeowners insurance. 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
A good credit rating is essential in this highly competitive industry. Credit score can be used to qualify you for a better rate. This is because the lender sees you as someone who will pay promptly and stay on top of their finances.
Most Oregon homeowners' insurance companies will also run a credit report before they approve your policy. They want to make sure that you are capable of handling the risk of a possible claim.
How to Get the Lowest Homeowners Insurance in Oregon
Oregon homeowners' insurance costs are significantly lower than the national average. It is easy to find a plan that suits your budget. To learn more about ways to reduce your premium, you should speak to your local insurance agent.