Whether you rent a property near Oregon’s rocky coastline or in the bustling city of Portland, renters insurance can financially protect you and your belongings from the disasters that come with its stunning vistas. Even if your landlord doesn’t require coverage, it’s a smart choice for most renters.
We at the Home Media reviews team analyzed and reviewed the best renters insurance options nationwide and narrowed down the list for providers in Oregon. We break down their notable features, coverage options and discounts below.
Top 6 Renters Insurance Providers in Oregon of 2022
After in-depth research, we at the Home Media reviews team found the following providers to offer Oregon’s best renters insurance coverage:
- Lemonade: Our pick for college students
- Allstate: Our pick for seniors
- State Farm: Our pick for affordable premiums
- Assurant: Our pick for new renters
- Toggle: Our pick for custom pricing
- Progressive: Our pick for bundling
According to a 2022 report by the Insurance Information Institute (III), the average cost of renters insurance in Oregon is $158, which is less than the national average of $174.
Your individual rates will vary based on various factors, such as your personal information, policy limits, deductible, location and other details. Use our free tool below to get a personalized quote for your situation.
Lemonade Renters Insurance
Lemonade is a strong pick for policyholders looking for a streamlined and technology-forward experience. It handles most interactions via a robust mobile app, from signing on to handling claims. For those who want more than just essential protection, Lemonade offers an Extra Coverage endorsement that provides additional protection for items such as jewelry, fine art, bikes, cameras and musical instruments.
According to some customer reviews, the potential downside to Lemonade’s digital-first approach is the difficulty of contacting a human representative. Check out other providers in this article if you prefer a personal touch over 24/7 policy access and quick claims processing.
Pros and Cons of Lemonade Renters Insurance
Check out these notable pros and cons of Lemonade renters coverage:
+ Covers replacement cost of belongings
+ May pay claims within seconds
+ Covers theft of personal property kept in self-storage up to $1,000
– Offers a less personal approach
– Doesn’t cover roommates’ belongings
Costs and Coverage Options
Check out the discounts and endorsements available from Lemonade.
Discounts: Lemonade offers discounts for security devices, bundling with other Lemonade products, and paying in full.
Endorsements: Oregon policyholders can get Extra Coverage, Water Back-Up, Landlord Property Damage and Equipment Breakdown add-on coverages from Lemonade renters insurance.
Get your quote: Get a personalized renters insurance quote from Lemonade.
To learn more: Lemonade renters insurance review
Allstate Renters Insurance
Founded by Sears executives in 1931, Allstate has more than 90 years of experience helping customers protect their belongings. Today, it offers an expansive catalog of insurance products and holds an impressive A+ rating with AM Best, signaling a strong financial backing on which policyholders can rely.
Allstate offers three tiers of renters insurance: Basic, Standard and Enhanced. While its Enhanced offering gets considerably more expensive, you can get Standard coverage relatively affordably. Plus, a unique discount for seniors and retirees and a vast network of agents make this a good option for older renters.
Pros and Cons of Allstate Renters Insurance
Here is what renters can expect with Allstate insurance:
+ Has strong financial backing
+ Offers a choice between actual cash value and replacement cost
+ Lets you report and track claims on the mobile app
– Has limited options for add-ons
– Charges higher prices than most providers on this list, according to our sample quote
*AM Best ratings are accurate as of December 2022.
Costs and Coverage Options
Check out the discounts and endorsements available from Allstate.
Discounts: Renters can save with multi-policy, 55 and retired, and easy pay plan discounts with Allstate.
Endorsements: Allstate offers scheduled personal property and identity theft protection as add-ons for renters.
Get your quote: Get your free Allstate renters insurance quote.
State Farm Renters Insurance
Like Allstate, State Farm is a nationally known insurer with a century of experience and strong financial backing. In fact, it holds the highest possible rating with AM Best. It also offers affordable premiums for its basic level of coverage and numerous online resources to help customers understand their policy and feel good about their coverage.
State Farm offers a bundling discount that can save renters up to 17% on their premiums. Beyond that, the only way for value-conscious shoppers to save is by installing home security devices, such as smoke detectors, fire alarms, burglar alarms and some home monitoring systems.
Pros and Cons of State Farm Renters Insurance
Here are some notable upsides and downsides to State Farm renters insurance:
+ Offers inflation coverage
+ Uses an established network of local agents
+ Features a comprehensive library of educational resources
– Increases policy premium significantly when adding endorsements
– Offers limited discounts compared to other providers
Costs and Coverage Options
Check out the discounts and endorsements available from State Farm.
Discounts: State Farm offers bundling and home alert protection discounts.
Endorsements: State Farm renters can expand coverage with personal liability umbrella, identity restoration, earthquake damage, additional business property and incidental business liability endorsements.
Get your quote: Get a free renters insurance quote from State Farm.
Assurant Renters Insurance
- Our rating: 4.21 out of 5
- AM Best rating: A
- J.D. Power score: NR
Assurant is a specialized provider that only offers renters insurance. This allows it to offer numerous policy endorsements in addition to solid standard coverage that includes protection for roommates and against mold damage. The downside is that you can’t keep all your policies under one company or save by bundling.
Assurant offers a unique policy that only provides property damage and personal liability protection. This is useful if you want to satisfy your landlord’s liability lease requirement but don’t want coverage for your belongings. While this option is available, we recommend full renters insurance in most cases.
Pros and Cons of Assurant Renters Insurance
Here’s what we do and don’t like about Assurant:
+ Includes mold coverage in its standard policy
+ Offers a unique policy with liability coverage only
+ Covers personal property at replacement cost
– Doesn’t have a bundling discount
– Charges hefty $5 installment fee for monthly payments
Costs and Coverage Options
Check out the discounts and endorsements available from Assurant.
Discounts: Assurant customers can save by enrolling in annual or quarterly payment plans.
Endorsements: Assurant offers a wide variety of endorsements in Oregon, including flood, food spoilage, bed bugs, pet damage, water sewer backup and fraud expense protection.
Get your quote: Get a free quote from Assurant today.
Toggle Renters Insurance
- Our rating: 3.93 out of 5
- AM Best rating: A
- J.D. Power score: NR
Although Toggle has only been writing policies since 2018, it draws on more than 90 years of experience as a member of the Farmers family of brands. It offers highly customizable renters insurance that can be a great choice if you don’t have much to insure or want to buy the cheapest renters insurance.
With Toggle, personal property coverage is split into categories such as technology and furniture, each with its own limit. You can waive all personal coverage (except for a $1,000 blanket limit) and additional living expenses for a bare-bones policy that meets your landlord’s minimum requirement. Or, you can increase coverage limits for specific property categories to maximize protection in the areas you need it most.
Pros and Cons of Toggle Renters Insurance
Here’s our take on Toggle renters insurance:
+ Offers highly customizable personal property coverage
+ Covers your belongings even when you’re out of the country
+ Reduces deductible for each claim-free year
– Doesn’t include replacement cost in Standard coverage tier
– Doesn’t offer any discounts
Costs and Coverage Options
Check out the discounts and endorsements available from Toggle.
Discounts: Toggle does not offer discounts on its renters insurance policy.
Endorsements: Toggle offers Pet Parent, Replacement Cost, Temporary Living Costs, Side Hustle, Identity Protector and Significant Other coverage.
Get your quote: Get a personalized renters insurance quote from Toggle today.
Progressive Renters Insurance
Policyholders can count on Progressive’s financial stability. This nationally available insurer could be a great fit if you’re looking for the convenience of housing all your policies under one provider.
For example, bundling renters and auto insurance triggers a discount. Plus, if you experience a loss that is covered by both policies, Progressive’s single-deductible benefit will pay back one of your deductibles.
Pros and Cons of Progressive Renters Insurance
Here are the most notable pros and cons of Progressive renters insurance:
+ Provides online tools and resources for renters
+ Offers 24/7 customer support
+ Features more discounts than most competitors
– Uses underwriting companies
– Requires policyholders to file claims with the third-party insurer
Costs and Coverage Options
Check out the discounts and endorsements available from Progressive.
Discounts: Save money on Progressive renters insurance with Multi-policy, Quote in advance, Receive documents by email, Pay in full and Secured/gated community discounts.
Endorsements: You can add scheduled personal property, personal injury, and water backup coverage to your renters policy with Progressive.
Get your quote: Get a personalized Progressive renters insurance quote.
What Factors Affect Renters Insurance Rates in Oregon?
Like home insurance, the renters insurance premiums in Oregon depend on several factors about tenants and the properties they rent. Here are the major variables insurers consider when calculating renters insurance rates:
- Location: Where you live, on both a state and neighborhood level, plays into the risks you face. You may be at higher or lower risk for perils such as crime and natural disasters.
- Coverage: Whether you’re just trying to meet your landlord’s minimum liability requirement or want ample coverage for your personal property will impact your premiums.
- Deductible: Your deductible is the amount of a covered loss you agree to pay out of pocket. The more risk you assume, the less your premium will be. The opposite is also true.
- Building features: Many insurers provide a discount if your building is equipped with modern safety features, such as deadbolts, fire alarms, smoke detectors and other home monitoring systems.
- Credit score: The better your credit, the more trustworthy you appear in an insurer’s eyes. Because it is riskier to insure someone with bad credit, that policyholder is often offered higher rates.
- Claims history: The more claims you’ve had in the past, the more likely you are to file another one. Most insurers tend to charge more or even refuse coverage if you have had recent claims, even with a different provider.
Common Causes of Renters Insurance Claims in Oregon
Renters insurance covers liability and personal belongings but not the actual structure you live in. That’s covered by your landlord’s policy. Therefore, the most common renters insurance claims tend to be damage to personal property or incidents you’re liable for.
Allstate names the following as the most common risks covered by renters insurance:
- Theft
- Fire and smoke
- Vandalism
- Sudden and accidental water damage
The Bottom Line: Which Renters Insurance Provider in Oregon Is Best for You?
Renters insurance offers ample coverage for an affordable price, making it a smart choice for most tenants. We recommend Lemonade overall for its tech-savvy and streamlined approach and low rates. We also like State Farm for its vast and knowledgeable network of agents. Progressive stands out for offering a single deductible benefit when you bundle renters insurance with a car insurance policy.
Whichever provider you choose, it’s important to match yourself with one that fits your unique situation. We recommend obtaining a quote from at least three insurers before making a final decision.
Get instant renters insurance quotes by entering your ZIP code in the form or calling 855-948-5219.
Methodology: Our System for Ranking the Best Renters Insurance Companies
Through in-depth research of the industry, we determined the following factors and weights to rate each company by:
- Overall cost: 15/100
- Add-ons and discount options: 20/100
- Standard coverage: 17.5/100
- State availability: 5/100
- Support availability: 20/100
- Connectivity: 12.5/100
- Authority: 10/100
We used these rating factors to determine the best renters insurance companies to help with your decision when looking at policies. We routinely monitor and update data on a regular basis to ensure the reviews reflect the most up-to-date information and advice.
AM Best Disclaimer
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.