Best Renters Insurance in Oregon

If you are looking for the best renters insurance in Oregon? Whether you are a punk activist in Portland or a biology professor in Corvallis, renters insurance in Oregon is an easy way to make sure your stuff is protected. Like most people, there is a good chance that you do not even know all about how renters insurance in Oregon can have your back when unfortunate things happen.

What Does Your Renter’s Insurance Policy Cover in Oregon?

Okay, so you get that renters insurance in Oregon is a great idea in theory but you are curious about what it can do for you. Let’s break down the components of what your policy covers. If you want a more in-depth exploration of all things renters insurance, here is our ultimate guide.

Personal Property

Personal property coverage makes sure your stuff is protected, whether you are relaxing at home or traipsing across Europe. So if your living room furniture is ruined due to that burst pipe, or your phone is stolen while you are taking a trip to Berlin, your insurance has your back.

Renters Insurance in Oregon

Loss of Use

What about if disaster strikes? If you can not stay at your home because of covered losses, your loss of use coverage provides reimbursements for a temporary place to stay and additional living expenses such as food, laundry, hotel parking, and more. 

Liability Protection

If someone is injured on your property, or anyone on your policy causes damage to someone else’s property or stuff, your insurer should have you covered?

Medical Protection

Your insurer covers medical expenses if your guests get injured at your place, or if you accidentally people hurt outside of your home as well. Note that your renter’s insurance does not cover medical costs if you or someone residing with you is injured, only non-residents and guests.

Do I Need Renters Insurance in Oregon?

While there is no law requiring that you carry renters insurance in Oregon, your landlord might specifically require it. And if your lease specifies that you need renters insurance in Oregon well that is that.

The good news is that renters insurance is easy to sign up with a Lemonade, and you will thank yourself later if your stuff gets stolen or damaged! When signing up, your landlord might request they be added as an interested party on your policy. This just means they will be kept in the loop when you make any policy changes or if you cancel your policy. It is super easy to add them using the Lemonade app.

What is the Right Amount of Coverage to Get?

There is no easy answer to that question, and it depends on how much stuff you have to cover, and what it is worth. As we discussed above, your policy has a few main categories: Contents, Loss of Use, and then personal liability and medical bills.

You can set the coverage limits for these categories when you sign up for a Lemonade policy. Lower coverage limits might save you a few bucks on your monthly premiums but they might also leave you with insufficient coverage when you have to make a claim. It is a balancing act and one that requires you to think about your property and lifestyle.

Also, if you have got valuables that are especially pricey or important things like engagement rings, fancy cameras, musical instruments, or artworks you can add ‘scheduled personal property coverage’ for those items. At Lemonade, we simply call it ‘Extra Coverage’ here is a bunch more info about that.

Some Awesome Places to Rent in Oregon

Okay, so now you have a handle on renters insurance. And you know you want to enjoy the best the Pacific Northwest has to offer, but you are up in the air about which town in Oregon is right for you.

Portland is the city that likely comes to mind first, famous for its coffee shops, activist culture, and the treasure trove that is Powell’s Books. A one-bedroom in town is likely to set you back an average of $1,350, according to Zumper. Looking for a luxury building with amenities? We found a roughly 2,000-square-foot one-bedroom in the Honey man Hardware Lofts located in the Pearl District neighborhood starting at just shy of $2,000.

Looking to be a bit further from nightlife, but closer to nature? Consider renting around Lake Oswego, about a 15-minute drive from downtown Portland. Some basic two-bedrooms can be had in complexes near the lake for around $1,400. We found a standalone, three-bedroom house around 2,200 square feet going for $3,400/month.

If you are looking for a more low-key vibe, consider Astoria, a two-hour drive from Portland. With a population of shy of 10,000 people, it is a pretty popular tourist destination but there is no reason you can not put down roots there, especially if today’s WFH culture means all you need is a laptop and a Wi-Fi connection to make a living.

Another option to keep in mind: is Gorgeous Bend, Oregon. Bend is one of the coolest ‘small’ towns in the US, affirms Emily Clark, a Claims Experience team member at Lemonade. There is something to do year-round, from the Deschutes River to all the breweries and amazing food. There is Mt. Bachelor, South Sister, and Deschutes National Forest for skiing, hiking, and biking, and Smith Rock is nearby for those who get their thrills rock-climbing.”

The average price of a one-bedroom rental in Bend, according to Zumper, is currently just shy of $1,700.

Oregon in Popular Culture

There is so much to celebrate about Oregon, from Slater-Kinney to this dude who lives in a repurposed Boeing airplane in the woods. Here are three things to be proud of if you call the state home.

Chuck Palahniuk, the author of Fight Club, lives in Portland

There are not many fiction writers who are household names, but Palahniuk is up there with the likes of Stephen King and John Grisham. While he hails from Washington State originally, this edgy, dystopian novelist has fallen in love with Portland.

He attended the University of Oregon’s School of Journalism, graduating in 1986, and began his journalism career at National Public Radio station KLCC in Eugene before moving to Portland to work for the Oregonian,” the Oregon Encyclopedia says, sketching Palahniuk’s eclectic career before literary fame.

“He also worked as a diesel mechanic for Portland-based Freightliner and volunteered for a Portland-area hospice program.”

Super-fast Renters Insurance with Lemonade

What a journey we have gone on together. We have traipsed through the forest of renters insurance in Oregon and discovered it is not so daunting after all. We have celebrated some of the amazing places to find an apartment in Oregon, and we have looked at what those places might cost you.

Once you have found your dream home in Oregon, it is time to make sure you have got renters insurance to protect all your valuable stuff. With Lemonade, it only takes a few minutes, What are you waiting for?

Is renters Insurance Required in Oregon?

While renters insurance is not required by law in Oregon, your landlord may require you to purchase a policy. It is generally a good idea to have at least some form of coverage as your landlord’s insurance is not liable for any damage to your personal property. So in the event of a fire, accident, or burglary, you will be responsible for replacing your belongings.

What Does Renters Insurance Cover?

Renters insurance is an insurance policy that can cover theft, water backup damage, certain natural disasters, bodily injuries, and more in a rented property. If you rent an apartment, home, or even a dorm, renters insurance is recommended for protecting your space and belongings in the event of a covered accident. Get a free renters insurance quote in minutes.

Three types of financial protection

Renter insurance in Oregon provides three key types of financial protection. The frequently asked questions in each section will help you choose the right coverage for your specific needs.

1. Coverage for Personal Possessions

Coverage for your personal property is a key part of the renter’s coverage, protecting you from theft, fire, and other events.

How Much Insurance Should I Buy?

Purchase enough insurance to replace all of your possessions if a burglary, fire, or other covered disaster occurs. The easiest way to determine the value of your possessions is to create a home inventory – a detailed list of your belongings, along with their date of purchase and estimated value.

You can take photos or videos or use an app to help you remember everything. Add the estimated cost to replace the items; if possible, that is how much insurance you should buy.

​2. Liability

Liability protection covers you against lawsuits for bodily injury or property damage unintentionally done by you or your family members. This coverage pays for the cost of defending you in court, up to the limit of your policy. Most liability coverage will include no-fault medical coverage. This means, that if someone is injured in your apartment, they can submit the medical bills directly to your insurance company.

Liability does not typically include damage done to the property you are renting. So, if your aquarium breaks and water damages the apartment, your policy will not cover it.

3. Additional Living Expenses

Additional living expenses (ALE) coverage kicks in if where you live is destroyed by an insured disaster and you need to live elsewhere for a time. This coverage is found on many home and renters insurance policies.

Renter’s Insurance Shopping Tool

Use the renters shopping tool in this consumer guide to compare multiple insurance companies. First, decide how much coverage you need for each category. Put that amount in each section in the left-hand column. Ask each company to quote the same level of coverage so you can compare actual premium costs.

It is not only about cost. Make sure the companies are licensed to do business in Oregon and check their financial strength and customer service.

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