Oregon Renters Insurance: Top Quotes Online

Whether you’re cruising in Portland or Eugene, Oregon is a gorgeous getaway location -and it’s even better if you want to spend quality time with family or relocate permanently.

Portland is such an incredible city, with diverse tourist attractions from voodoo doughnuts to the lush landscapes that surround the outer metro areas of Oregon. We’re big fans of Oregon – in our favorite parts are those rural forest areas where families can settle and enjoy quiet lives together, building roots.

Do I have to have Oregon renters insurance?

Legally, you do not. However, most rental property companies or landlords tend to require these days. Most will want $100,000 or more in protection, though we like to see our customers take out a little more just to ensure that extra layer of protection. Considering the cost of renters insurance premiums is so low, it’s more than worth it.

Oregon residents pay about $1130 per month in rent, and renters insurance premiums vary based on each policyholder’s specific situation.

How much is renters insurance in Oregon?

No matter where they are in the United States, the vast majority of our customers end up paying $12-$15 a month for renters insurance. Many customers are surprised at how low the premium amounts are, and just a little bit can go a long way in terms of coverage.

We’ll start determining your coverage amounts by first itemizing your personal property. We recommend at least $20,000 in personal property coverage to replace your belongings in case of any kind of accident or loss. It’s best to start in one room and go through the house itemizing each belonging as you see fit. Don’t just record the valuables. Basic necessities such as bedsheets, furniture, electronics and items used in everyday living will need to be replaced if there is damage to your rental.

We also recommend $100,000 in medical liability coverage. This is in the case of an accident or injury in your home for which you are found medically liable. This could happen at any time – and there is a statistical increase in medical liability incidents when it comes to pets in the home. You may find that specific breeds of dogs are not covered in your renters coverage or are covered with higher premiums or certain restrictions. Dog bites are a common occurrence when it comes to medical liability, so it’s important to discuss your pets with your agent and talk about ways that you can make sure you’re protected based on your situation.

We also recommend $1000 for loss of use coverage. This type of coverage protects you if you’re unable to use the basic necessities in your home. Loss of use of your home will put you out in case of a loss, so you’ll need to possibly pay a little more to do things like do your laundry, eat or use shower facilities outside your home.

What does it cover?

Though the weather in Oregon is generally stable and Oregon residents don’t experience tornadoes, hurricanes or earthquakes the way people in other states might, damaging thunderstorms, snowstorms and other weather phenomena can endanger property at any time. This is why it’s so important to have coverage – no matter the peril, you can make sure your belongings and the people in your home are covered in case of an accident or weather catastrophe, while your landlord’s homeowners insurance will protect their structure and any surrounding structures that also belong to them.

We recommend you ask your agent about actual cash value versus replacement cash value. These terms refer to the cost of replacing your items. As you use items over time, they depreciate in value, so you may find that the actual cash value of your item will be less than the replacement cost value. A good example of this is a laptop. The minute you get your laptop home and start using it, it starts to decrease in market value. If you ask for the actual cash value of your laptop as opposed to what it will take to replace it, you may end up with a much different, much cheaper laptop than you started with.

Make sure to ask your agent if you don’t understand any of the terminologies in your policy. We are here to help.

How much coverage is needed?

Think you might need some additional insurance? If you have family heirlooms or property that exceeds the $20,000 recommended coverage, we can take out an additional policy on any items at the replacement cost value. Talk with us about the balance of items in your home, and make sure to single out anything you have questions about from your itemization sheet. We can definitely help you assess whether or not taking out an additional policy would be best for your specific situation.

 Do I get a discount if I’m new?

Absolutely! We offer discounts in many different forms. First, if there are extra security measures taken on the property you’re renting, you may be able to get a lower premium. We’re talking about things like doorbells with responsive video cameras, antitheft devices, certain types of fences, perimeter cameras or anything else you and your landlord can think of that will increase security. To give you an example, gated entry or a night concierge may be things that a carrier could look at is increased security measures that will save you a little money.

The most common way policyholders save is bundling. Carriers love offering you a discount to take out multiple lines of insurance, so if you’re in the market for car insurance or health insurance, bundling these different types together could give you a lower premium across the board. Make sure to let us know if you’re in the market for other types of lines because we can get you some pretty significant savings based on your situation.

Also, boosting your credit score is a great idea before you shop for renters insurance. Your credit score is a factor because your financial responsibility signifies an ability to pay rent, and if you can pay rent on time every month, there’s a high likelihood you will continue to pay on your policies. If you’re thinking about getting a renters insurance quote and you have a credit bubble coming up soon, it may be worth it to wait until after the bump so you can get those extra savings.

Here at Insurance Geek, we love helping our customers find the best Oregon renters insurance for their specific situations. Connect with us and let us help you find a renters policy that will protect your belongings, help you out in the case of medical liability or an accident within your rental, and a variety of other factors. We’d love to help you, and all you have to do is fill out one form and we will get you a variety of quotes in one day without you having to do the heavy lifting. That’s our Insurance Geek promise.