Who Has the Cheapest Renters Insurance Quotes in Oregon?

Best cheap renters insurance in Oregon

Cheapest 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.

Oregon renters pay some of the cheapest insurance rates in the country. Renters insurance in Oregon is $50 per year cheaper than the national average of $215 per year.

Cheapest renters insurance companies in Oregon

Best renters insurance for most people: Lemonade

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.

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.

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Best coverage options: Travelers

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.

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Best for students and young renters: Farmers

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.

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Best customer service: Amica

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:

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Average cost of renters insurance in Oregon by city

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.

Best renters insurance in Oregon

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.

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

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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.

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

Frequently asked questions

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Methodology

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

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: