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 A homeowner insurance policy in Oregon for a condo, mobile, or beach house is included among the lowest average insurance rates in the country. Annual premiums are pegged at a low of $472 to a high of $502.

Considering the low cost of insurance rates in the state, getting homeowner insurance in Oregon is the best investment that every resident desiring to protect their homes and personal property should take advantage of. Like in most states, mortgage lenders require that loan applicants get even a basic policy. To be assured of really good protection, the amount of coverage should be at least 80% of the replacement cost of the home.

Homeowner insurance coverage in Oregon is available as three basic types.

These are:

· Actual Cash Value: This amounts to the home’s fair market value up to a contracted limit in the policy, minus the deductible

· Replacement Cost Coverage:  Payments are more in line with the payouts expected by the homeowner

Replacement Cost Coverage comes in three categories. These categories are:

· Guaranteed Replacement Cost:  If the home is completely destroyed by any of the perils listed in the policy, replacement of the home is guaranteed. Exclusions are any antique woodwork or intricate modifications or extras in the home.

· Extended Replacement Cost: More expensive than Guaranteed Replacement Cost, it offers complete replacement of the home, with an added 20 to 25% of the dwelling’s value in case of overruns in rebuilding costs (such as costs in replacing antique woodworks or special home modifications).

· Inflation Guard Coverage: The most expensive type of homeowner policy in Oregon. The level of coverage of this policy increases as the value of the home and rebuilding costs increase.

Although Oregon is not a natural disaster-prone area, the state does experience some flash floods during heavy rains. Flood coverage can be purchased as a separate policy from the National Flood Insurance Program or added as a special rider to the basic policy.

There are two important considerations when applying for a policy. Oregon is one of the states that look at credit scores. So to keep premiums low, all loans and credit card payments must be made on time. Credit card balances, in particular, should be kept at 30% below their limits.

The second matter to consider is the selection of an insurance provider that would be best suited to meet the homeowner’s needs. While many companies fulfill the terms of their policies to the letter, others would make it difficult for the policy holder to file claims. Before committing to any insurance provider, shop around and compare rates and services.

Homeowners would want to lower their premiums if they have a tight budget. One could avail of discounts by getting multiple policies from the same insurance company or by installing protective devices such as deadbolts and wrought iron bars on the doors and windows. Security devices such as fire alarms, burglar alarms and water sprinkler systems also warrant additional discounts.

Getting claims from homeowner insurance in Oregon need not be a battle, so for any inquiries or complaints, consult immediately with the state’s Insurance Division.

 

Find  homeowner insurance rates in each of these Oregon cities or counties:
Albany – Aloha – Altamont – Ashland – Astoria – Baker City – Beaverton – Bend – Canby – Cedar Hills – Cedar Mill – Central Point – City of The Dalles – Coos Bay – Cornelius – Corvallis – Cottage Grove – Dallas – Eugene – Fairview – Florence – Forest Grove – Four Corners – Garden Home-Whitford – Gladstone – Grants Pass – Green – Gresham – Hayesville – Hermiston – Hillsboro – Independence – Jennings Lodge – Keizer – Klamath Falls – La Grande – Lake Oswego – Lebanon – Lincoln City – McMinnville – Medford – Milton-Freewater – Milwaukie – Monmouth – Newberg – Newport – North Bend – Oak Grove – Oak Hills – Oatfield – Ontario – Oregon City – Pendleton – Portland – Prineville – Redmond – Rockcreek – Roseburg – Salem – Sherwood – Silverton – Springfield – St. Helens – Stayton – Sunnyside – Sutherlin – Sweet Home – Tigard – Troutdale – Tualatin – West Haven-Sylvan – West Linn – West Slope – Wilsonville – Woodburn

Homeowner insurance in Oregon provides coverage in the event of damage to your property from theft, fire, floods, and natural disasters as well as protects you from liability for injuries or damage caused to people on your property. The right homeowner insurance plan  can help you make the best choices about this important protection for you and your family. Get free quotes on home owner insurance in Oregon above.

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