The next time you lace up your Nikes or browse the web with a mouse, you should be thanking Oregon. These life-changing products were invented in the Beaver State, among plenty of other notable items. One thing that wasn’t created in Oregon? That’d be home insurance, though we’ve done our best to bring modern insurance to Oregon residents since we started servicing the state in early 2020.

Whether you want to know how much to budget for home insurance in Oregon or are looking to see what resources your state offers homeowners, our guide has you covered.

What is the average cost of home insurance in Oregon?

Illustration of three houses with green doors and smoke coming out of the chimney of one

Homeowners insurance in Oregon costs an average of $761 a year, about the same price as buying 38 new bestsellers from Powell’s Books (though we recommend reading up on these homeownership books too).

If you’re looking for a state to save on home protection, you’re in the right spot. Oregon is the cheapest state in the nation to get a home insurance policy and has drawn in plenty of home buyers looking to take advantage of these savings. In fact, Oregon is one of the most popular states Americans have relocated to during the COVID-19 pandemic.

Homeowners insurance in Oregon costs an average of $761 a year, about the same price as buying 38 new books from Powell’s Books.

What factors influence my home insurance rate?

But once you find the perfect home to wait out those famous Oregon rainstorms in, you might see a different price than the one above for your home insurance policy. That’s because home insurance prices can vary depending on your home’s location, its current condition, age and how well you take care of it. So if you splurged on a historic home near the lake, you’d find yourself paying more for home insurance than if you bought a brand new townhome at the top of a hill.

Oregon Home Insurance Premiums

What does Oregon home insurance cover?

When you buy a home insurance policy in Oregon, you’ll be protecting your dwelling, belongings and personal liability. If a hail storm breaks a window, causing water damage in your kitchen or bathroom, you’ll be covered. You’ll also be covered should someone break into your garage and steal your expensive bikes, even if they end up damaging your home in the process.

But living in a state that gets over 41 inches of rain per year means you may need some extra protection for your home. Luckily, getting this additional coverage is easy by way of insurance riders. You can get riders to protect yourself against water backups, floods and even mold.

Oregon Insurance Coverage Options

Traditional coverage


Supplemental coverage


Tips for lowering home insurance rates

While Leslie and Ben may have gotten back together at the world’s tiniest park on Parks and Recreation, the actual tiniest park is not in Indiana but instead in Portland, Oregon. Though, unlike Portland's famous Mill Ends Park, the money you can save on your home insurance in Oregon is anything but tiny.

You have options to lower your home insurance rate. These include raising your deductibles, installing smart home devices, updating features in your home (such as your roof or HVAC system) or changing providers to get a better deal. Though if you want to switch providers with an escrow account, you’ll need to keep your lender involved throughout the process to ensure your account transfer runs smoothly.

Oregon home insurance resources

The Beaver State is home to a lot of fun things to do. Not only does Oregon have the most ghost towns and the deepest lake in America, but Portland is also one of the best cities in the country for microbreweries. And good news for Oregonians, the state also has a lot of resources for its residents to ensure everyone gets the protection they deserve.

In addition to the NFIP and FAIR programs below, Oregon residents can also check out the Oregon Division of Financial Regulation for more information on how to adequately protect their homes for less.

National Flood Insurance Program

Given that just one inch of water in your home can cause up to $27,000 in damage, it’s safe to say flood insurance is a must in a rainy state like Oregon. While your home insurance provider may not offer flood insurance protection themselves, a government program called the NFIP contracts out policies to individual providers to get you the protection you need.

Wildfire Information

The risk of wildfire is one factor used to help evaluate a property’s overall insurability.  We use information received from you and a wildfire risk score provided by a third-party vendor, which measures a home’s threat from a wildfire loss.  Hippo also requires trees, brush, vegetation, and other combustible materials to be kept a safe distance from the home.  This is known as a “defensible space”.  Hippo requires a defensible space of 100 feet surrounding a home and other structures located on the property and this space may include adjacent properties.  Therefore, taking property-level wildfire mitigation actions, such as creating a defensible space or hardening your home, may increase your home’s insurability.  However, some homes’ threat from a wildfire loss as evaluated from the third-party risk score, is so great, no wildfire mitigation action will impact its insurability.  Hippo does not currently offer any premium credits for wildfire mitigation actions taken on a property

Oregon Fair Access to Insurance Requirements Plan

Home insurance was created to give homeowners peace of mind because what’s better than knowing that your home and your belongings will be protected no matter what? But unfortunately — whether it’s due to owning a high-risk home or having a long history of claims — you can get dropped from your home insurance policy. If that happens, and you’ve had at least three unsuccessful attempts to get a new policy, you’ll qualify for an Oregon FAIR plan.

FAIR is run by the state government and provides much-needed coverage for homeowners who cannot get protection through regular avenues. This coverage is typically minimal, so it should be considered a last resort.

We know that Oregonians expect excellent service. After all, Oregon is one of the few states that still require gas station attendants. That’s why we offer great home protection and customer service for homeowners from Portland to Burns and everywhere in between. Just enter your address to get a home insurance quote in less than 60 seconds.

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