Insurance Agent & Broker Portland Oregon

FACTORS THAT AFFECT YOUR OREGON HOME INSURANCE RATES

Your Oregon home insurance rates depend where you live and what kind of house you live in and of course which insurance company you purchase your home insurance from. Oregon insurance companies will rate your annual premium based on these factors:

• Fire Protection Class – Every neighborhood in Oregon is assigned a fire protection class, based on the location of fire stations and water sources, and whether fire protection is provided by a full-time professional department or volunteers. More rural homes, like a home in Colton or Estacada although it is less exposed to crime, usually cost more to insure because they are often miles from a fire department. To reviews maps to find the nearest fire station to your Portland residence click here.

• Type of Home Construction – Insurance on wood homes will most likely cost more than brick or masonry homes.

• Age of Home – New homes usually cost less to insure than older homes. Outdated building codes and old wiring also make older homes riskier for insurance companies.

• Construction Costs – Insurance premiums take into account the cost of building materials and labor costs in the area the home is being built. If your Oregon home been built with any specialty materials such as FSC lumber, radiant heat flooring, or bamboo flooring it would cost more to replace than a conventional cookie cutter type of home. You also need to consider that if  you are living in 'Green home' that has an Earth Advantage or LEED certification the cost to replace will increase. Maybe you should consider a Green Insurance option that caters to your home?

• The Size of the Deductible Selected - Generally, the higher the deductible selected, the lower the premium that is charged to you.

  Your deductible should be equal to one week's take home pay.

• Previous Claims History - If a company can show a relationship between the prior owner’s loss and the probability of a future loss to the home, they may use the information in determining whether or not to provide coverage for the home.