Renters Insurance

Who Has the Cheapest Renters Insurance Quotes in Oregon?

Who Has the Cheapest Renters Insurance Quotes in Oregon?

Lemonade offers the cheapest renters insurance in Oregon. A policy costs $9 per month, on average.

Compare cheap renters insurance in Oregon

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However, we don't recommend buying a policy based on price alone — customer service and coverage are just as important. We collected more than 100 quotes across Oregon to find the best renters insurance companies in the state.

Methodology

Cheap renters insurance companies in Oregon

Oregon renters can find the cheapest insurance with Lemonade. A policy from Lemonade costs $102 per year, or $9 per month, on average. That's $63 per year cheaper than the statewide average.

The average cost of renters insurance in Oregon is $14 per month, or $165 per year.

Bar chart comparing the cheapest renters insurance in Oregon by company

Compare cheap renters insurance in Oregon

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Oregon renters pay some of the cheapest insurance rates in the country. Renters insurance in Oregon is $52 per year cheaper than the national average of $217 per year.

Company
Monthly cost
Lemonade logo
Lemonade$9
Farmers logo
Farmers$12
Travelers logo
Travelers$14
Amica logo
Amica$15
Allstate logo
Allstate$16
Nationwide logo
Nationwide$17

Best renters insurance for most people: Lemonade

Lemonade has the best mix of cheap quotes and reliable customer service for Oregon renters.

Read our full review.

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The good:

  • Cheapest rates in Oregon
  • Dependable customer service

The bad:

  • Not many extra coverage options

With great rates and customer service, Lemonade is the best renters insurance company for most people in Oregon. Its average price is just $9 per month, making it 38% cheaper than the state average.

Oregon renters can count on Lemonade to provide a stress-free claims process.

It receives fewer complaints than expected for an insurer of its size, according to the National Association of Insurance Commissioners (NAIC). Additionally, J.D. Power awarded Lemonade first place in its annual customer satisfaction survey. This suggests policyholders tend to be happy with the service they receive from Lemonade.

Coverage options from Lemonade are good, but the company doesn't offer as many as some competitors. Lemonade offers coverage for valuable items and replacement cost coverage. However, renters can't purchase earthquake coverage, which may be important to people living on the coast near the Cascadia fault.


Best coverage options: Travelers

Travelers offers the biggest range of renters insurance coverage options among Oregon's top insurers.

Read our full review.

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The good:

  • Great coverage options

The bad:

  • Not the cheapest option
  • Only offers annual payments

We recommend Travelers Insurance for renters who need extra protection. It offers Oregon renters the best range of coverage options, so it's likely to have the protections you need. Travelers' optional coverages include equipment breakdown and decreasing deductible, both of which are uncommon among Oregon insurers.

Unfortunately, Travelers is missing one optional coverage that may be important to Oregon renters, especially those near the Cascadia fault line: earthquake insurance. Damage to your property from earthquakes isn't covered by basic renters insurance. If you are concerned about the costs of earthquake damage, consider comparing quotes from Nationwide.

The other big drawback of choosing Travelers is that you have to make annual payments. In contrast, most renters insurance companies allow you to pay on a monthly basis. While the total amount you'll pay is about average at $171 per year, you'll have to pay the entire bill up front. That may make Travelers too expensive for some renters.


Best for students and young renters: Farmers

Farmers has low coverage limits, making it a good choice for people who don't have a lot of property to worry about.

Read our full review.

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The good:

  • Offers low coverage limits
  • Affordable rates

The bad:

  • Few optional coverages
  • Unreliable customer service

We recommend Farmers for students and young renters who don't have a lot of stuff to protect. Farmers sells renters insurance with as little as $4,000 of personal property coverage. In comparison, the minimum amount of personal property protection from Lemonade is $10,000.

The average cost for renters insurance from Farmers is $12 per month, which is $2 per month cheaper than the Oregon average. However, that quote includes $30,000 worth of personal property coverage. Renters who need less coverage will have cheaper quotes.

Farmers has mixed customer service reviews. It receives fewer complaints than competitors of a similar size, according to the NAIC. However, its J.D. Power rating was below average. Renters insured with Farmers may have a more difficult time replacing their things if they're damaged or stolen, compared to those who choose another insurer.

Renters insurance at Farmers also lacks a lot of coverage options. It offers identity theft and replacement cost coverage but no extra protection for valuables or water backup.


Best customer service: Amica

Oregon renters can find top-rated customer service with Amica.

Read our full review.

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The good:

  • Reliable customer service
  • Lots of discounts

The bad:

  • Expensive rates

Renters in Oregon can count on Amica to provide a stress-free, fast claims experience. The company receives a small number of complaints compared to other insurers of the same size, according to the NAIC. That means Oregon renters are generally happy with the service they receive from Amica.

Unfortunately, great customer service comes at a price. On average, renters insurance from Amica costs $15 per month, which is more expensive than average in Oregon.

However, the company offers a number of discounts to help lower your renters insurance premium, including:

  • Bundling discount
  • Claim-free discount
  • Loyalty discount
  • Paperless discount
  • Pay-in-full discount

Average cost of renters insurance in Oregon by city

Renters insurance in Portland is the most expensive in the state. People living in nearby Beaverton and Hillsboro pay much less for coverage.

The cost of renters insurance in Oregon doesn't vary much across the state's 24 most-populated cities. Renters in Portland pay an average of $16 per month for insurance. Residents in the cheapest cities — Beaverton and Hillsboro — pay an average rate of $13 per month.

City
Average annual cost
Difference from state average (%)
Albany$1681%
Beaverton$152-8%
Bend$1650%
Bethany$1661%
Corvallis$162-2%
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Best renters insurance in Oregon

Renters in Oregon will find the best-rated customer service from Amica.

The company only receives about 12% as many complaints as an average company its size, according to the NAIC. In addition, it earned a high score from our ValuePenguin editors based on customer service reviews, coverage availability and the overall value it provides policyholders.

Helpful, attentive service will make the process of buying coverage straightforward and take the stress out of the claims process. That's why you should consider customer service reviews when shopping for the best renters insurance company.

Company
Rating
Amica
USAA
Lemonade
Nationwide
Farmers
Allstate
Travelers

USAA also provides Oregon renters with excellent customer service. However, only military members, veterans and their families are eligible to purchase a policy.


What does renters insurance cover in Oregon?

All major renters insurance companies provide the following basic coverages. If a company you're considering doesn't have these coverage options, consider another insurer instead.

  • Personal property coverage
  • Liability coverage
  • Medical payments coverage
  • Additional living expenses

In addition, many renters insurance companies offer optional coverage add-ons to provide you with extra protection.

Some of the most common options in Oregon include:

Coverage
Availability
Earthquake coverage Nationwide
Replacement cost coverage Amica, Farmers, Lemonade, Nationwide and Travelers
Valuable-items coverage Allstate, Amica, Lemonade, Nationwide and Travelers
Equipment breakdown Lemonade and Travelers

Frequently asked questions

How much is renters insurance in Oregon?

The average renters insurance rate in Oregon is $14 per month, or $165 per year. People shopping for cheap renters insurance in Oregon should consider Lemonade, where a policy costs around $9 per month.

Is renters insurance required in Oregon?

Renters insurance is not legally required in Oregon. However, your property management company or landlord may require you to purchase a policy as part of your lease agreement.

How much is renters insurance in Portland, Oregon?

Renters in Portland pay the highest rates in Oregon. On average, a policy costs $16 per month, which is 13% more expensive than the state average. In comparison, renters in Corvallis pay an average of $14 per month for insurance.


Methodology

When evaluating the best renters insurance companies in Oregon, we considered three main criteria:

  • Affordability: Are the insurer's prices competitive with other companies?
  • Coverage options: Does the insurer offer a wide range of useful coverage options?
  • Customer service: Are customers generally happy with the service they receive from the insurer?

To compare rates, we collected renters insurance quotes in 24 major cities across Oregon. Our sample renter is a 25-year-old man who lives alone and has not made any recent renters insurance claims. He's protected himself with $30,000 of personal property coverage with a $500 deductible, plus $100,000 of liability protection and $1,000 of medical payments coverage.

To evaluate the customer service of renters insurance companies in Oregon, we looked at three key factors:

  • NAIC complaint index: This score compares the number of complaints an insurance company has received through the National Association of Insurance Commissioners with other companies of its size.
  • J.D. Power ratings: This score is based on a national survey regarding customer satisfaction with renters insurance companies.
  • ValuePenguin editor's rating: This score is based on the overall value a company provides its customers, service reviews and coverage availability.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.