Renters Insurance Oregon

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In 2013, the average estimated cost of renters insurance in Oregon was $136 a year. Compared to that the average homeowners insurance is $450 a year in Oregon, thus renters insurance is cheaper than most people realize.

Comparing Renters and Owners Insurance in 2013 in Oregon

The landlord's policy does not cover renter's damages like burglary. There were 21901 burglaries reported in Oregon in 2012. So, to protect one from events like fire, burglary or other disasters renters insurance is required.

Renters Insurance Coverage Types:

Actual cash value policy:
This policy covers the depreciated value of the loss. For instance, that Laptop you bought for $870 might only be worth $440 six months later – and that's all you're going to get for it.

Replacement Coverage Policy in Oregon:

  • Using the same example, the insurance may not necessarily pay for the laptop, however you will get sufficient amount to buy another Laptop same as the lost/damaged one. The replacement cost insurance in Oregon costs around $34.0 more than the actual cash value policy.
  • Taking into account the median rent in Oregon as $1020, the average renters insurance of $10 per month is 0.98% of median monthly rent.

Estimated Renters Insurance for Different House Types in Oregon

House Type Median Rent Estimated Renters Insurance
Single Fam $1,200 $156
Duplex $900 $117
Studio $730 $94
One Bed $840 $109
Two Bed $930 $120
Three Bed $1,250 $162
Four Bed $1,590 $206
Many Bed $1,200 $156

Deductibles in Oregon:

By opting for a $500 deductible over a $250 deductible, an average of $14.96 can be saved on the insurance premium.