Best and Cheapest Renters Insurance in Oregon for 2024

Unlike the need for car or homeowners insurance, the need for renters coverage is more ambiguous. A common misconception is that the liability insurance of your landlord covers your apartment damages and your belongings, but that's only half true.

While the structure of your apartment or building is covered by a separate policy, your own personal belongings damages claim won't be covered without a renters policy. So, while the rented property and appliances themselves will be covered under your landlord's dwelling policy, your personal clothing, furniture, and any other content you own won't unless you have your own policy. The same rule would apply in the event of a liability claim against you. The property owner's policy would cover liability up to their chosen limits, but only for things that could be directly attributed to them.

So if tenants want to ensure they're properly covered while renting, it's important to find one of the best renters insurance companies. Where do tenants start?

In the table above, you can sort through all the affordable renter's insurance companies ranked on Clearsurance. The rating next to each company the insurer's Clearsurance score is based exclusively on the thousands of ratings provided by customers.

Note: Only those companies with at least 25 renters reviews are eligible to appear in the best renters rankings.

It is important to know as much as you can about your renter's insurance company before taking out a policy with them. Talking to a local, experienced insurance agent can help answer any questions you may have. Some questions to consider asking include, "What is the average cost for your renter's insurance coverage?" "Does my policy cover things such as water damage and bodily injury?" and "What are my coverage options and my coverage limit?"

Are you interested in learning more about one of the companies on the list of the best insurance providers for liability coverage in Oregon? You can visit the profile page of the insurer to find more information about the company and read reviews to learn from the experiences of other policyholders.

Get renters insurance quotes by entering your ZIP into our free tool above. Compare the cost of renters insurance coverage options to make sure you're protected from unexpected events.

On this page:

• Oregon renters insurance rates
• Average cost of renting in Portland
• Renters insurance for Oregon college students
• Oregon property crime statistics

Who offers the best renters insurance rates in Oregon?

Out of the most popular and affordable renters insurance companies in Oregon, Safeco offers the cheapest renters insurance rates, on average.

Of course, this doesn't always equal the best. The cost of renters insurance is typically very low wherever you go. You might pay $150-$200 for the whole year leaving you with a monthly premium of less than $20. If you're renting a whole house, you might want more than the base personal property coverage. In some areas, renters might worry more about liability or medical expenses associated with accidents in their home. The average price goes up when you add more coverage. Property damage is just one of the benefits a renters policy can offer.

For a basic renters policy in Oregon, renters often pay $127 per year or less. In the table below, you can see average annual Oregon renters insurance rates from some of the largest companies in the state.

These average renters insurance rates are based on a policy with $30,000 in personal property coverage (with a $500 deductible), $100,000 in personal liability and $1,000 in medical payments to others. The rates displayed should only be used for comparative purposes as individual rates in Oregon will differ. Rate data is provided by Quadrant Information Services.

How much does rent cost in Portland?

In Portland, Oregon, rent costs an average of $1,428 per month. Rent in Portland can vary based on your apartment's location and size. It also varies widely between Portland proper and the many suburbs and cities nearby.

Portland, the most populous city in Oregon, is located along the Columbia River on the state's border with Washington. The Willamette River also runs through the city. While the average cost of monthly rent in Portland, Oregon, is $1,428, the cost varies by neighborhood. For example, the average monthly cost of rent in the Pearl District is $1,813 while the average monthly cost in Sumner is $959.

In addition to location, the size of the apartment also affects the cost of the rent. On average studio apartments cost $1,172 per month, one-bedroom apartments cost $1,370 per month and three-bedroom apartments cost $1,637 per month. Renters in Portland may want to consider purchasing renters insurance policies. At a small monthly fee, renters insurance coverage can protect personal belongings from perils like theft, vandalism, or fire.

Can Oregon college students get renters insurance?

If you're attending a college or university in Oregon, you may be renting a dorm on your campus or an apartment located off-campus. There are a few things for college students renting housing in Oregon to consider in order to protect their personal belongings.

Typically, college students who live in dorms located on the college campus are covered by their parent's homeowners insurance policy. That's usually only the case for students who live on campus, though. Oregon college students who rent apartments off-campus should consider a renters insurance policy because their items won't be covered under their parents' policy, and without a renters insurance policy, they won't have any protection.

College students will most likely have roommates in the apartment they rent. It's not advised that students share renters' insurance policies with roommates. Rather, each student should have their own renter's insurance policy to protect their own belongings.

What are Oregon's property crime statistics?

Theft and vandalism or malicious mischief are among the 16 perils a standard renters insurance policy protects you from. So, how does crime in Oregon compare to other states around the country? The FBI published the following statistics on crime in Oregon for 2016:

• Property crime - 121,345
• Burglary - 16,866
• Larceny theft - 91,286

When compared to the national average rate per 100,000 inhabitants, property crime and larceny-theft in Oregon rank above the national average, but burglary ranks below. It is important to make sure that you are always covered. Ask your local insurance agent if your renter's policy covers additional protection like a burglar alarm. This will not only help keep you safe but also help with peace of mind, knowing that you are protected.

How can you save money and get cheap renters insurance in Oregon?

While renters insurance may be more affordable than other types of coverage that pays for damage, no one wants to pay more than they have to. So what are the different ways that you can lower your Oregon renters insurance premium and have some extra spending money?

One of the most important things to decide before you start shopping is what coverage you want. If you need more liability coverage, it doesn't make sense to save money on your premiums only to pay hundreds of thousands in liability on a claim your insurance could've covered. If you're renting a full house, your personal property will cost more to replace. Once you've sorted out your coverage needs, you can find the lowest rates for the coverage you need.

Here are the top 5 ways to save on your renters insurance:

• Raise your deductible
• Ask about potential discounts
• Bundle your renters insurance with your auto policy, life insurance, or other insurance policy
• Determine the value of your personal property
• Pay in full by check

How does Clearsurance rate and rank the best renters insurance companies in Oregon?

Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:

• Price
• Customer Service
• Renters insurance claims service
• Likelihood to renew

The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.

The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.

Do you need a renters insurance guide?

As we mentioned above, there are common misconceptions regarding what is and isn't covered by a renters insurance policy. Before you purchase a policy from one of these best renters insurance companies in Oregon, it's important to understand what your policy covers. For example, did you know that many renters insurance policies include liability protection in the event a non-resident is injured on the property? Plus, if your apartment becomes uninhabitable from an incident, some policies may cover your expenses as you find temporary housing.

It is important to know all that you can before taking out a renters insurance policy. Learn about the insurance company and the protection that their policies offer before making a final decision. Know and understand your policy limits and ask about what additional coverages you can add to your protection.

While we all want the most affordable renters’ insurance, it is important not to sacrifice the quality of your protection just to save some money. Talk to a local insurance agent about what insurance company is right for you, and what coverages they offer.

We want to make sure you're equipped with a proper knowledge of apartment insurance, so check out our renters insurance guide. Looking for more educational information about renters insurance? Check out our renters insurance blog for more information and topics related to renters insurance.