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Find the best renters insurance in Portland to ensure your belongings are protected.
Portland has it all: It’s a big city but somehow feels like a small town, it’s biker and pedestrian friendly, and features the perpetually snow-capped Mount Hood as its backdrop. While the number of people flocking to Portland has plateaued slightly in recent years, population is still growing at a healthy clip, and almost half the city’s occupied units are currently rented rather than owned.1 If you do rent in The City of Roses, you may want to consider purchasing renters insurance.
Yes, renters insurance ensures that your personal belongings are protected, but it also protects your bank account if someone is injured in your home and sues or requires medical expenses. There are countless reasons you should consider renters insurance if you live in Portland, from rate affordability to the high risk of weather-related damage to break-ins. Read on to learn more about why renters insurance makes sense for Portland residents.
|Insurance Company||Monthly Cost - $500 Deductible||Monthly Cost - $1,000 Deductible|
† Not available in Portland
Methodology: We pulled renters insurance quotes online from five of the most popular insurance companies: State Farm, Lemonade, Allstate, Travelers and Stillwater. Quotes were for policies with $500 and $1,000 deductibles for a 30-year-old male apartment renter. We deferred to the most comparable coverage amounts when identical policies were unavailable.
|Medical payments to others||$1,000||$1,000||$1,000||$2,000||N/A|
† Not available in Portland
Renters insurance is about far more than just protecting your personal property. Here’s a rundown of the components you should look for in a policy when comparing renters insurance rates.
We’ve got a full explainer of what renters insurance covers here.
While renters insurance is not legally required in Portland or the state of Oregon, some landlords or management companies may require renters insurance as a condition for signing the lease. When applying for a residence, always be sure to double-check with the broker or landlord about renters insurance before signing.
It's also worth remembering that although renters insurance may not be legally required, it may save you a legal headache at the end of the day. Having liability coverage alone is reason enough for you to think about investing in renters insurance.
Renters insurance is among some of the most affordable insurance types to buy, and considering your most cherished personal belongings are typically stored in your residence or storage units, it should be a no-brainer in any city.
In 2016, Portland experienced 24,198 instances of theft and 4,096 instances of burglary, and while the per-capita rate is lower than the highest theft and burglarized cities in the U.S., property crime rates are still far higher than the national average.2 If you live in Portland, you may want to consider renters insurance as a safeguard.
|Crime Stats in Portland|
|--||Portland incidents||Portland rate*||Nationwide incidents||Nationwide rate*|
|--||*per 100,000 people|
Did you know that renters insurance also protects your belongings if they’re damaged by certain weather hazards? Well rest easy, Portland residents, because those uncharacteristically intense winters you’ve been experiencing lately,3 causing your pipes to burst and roof to fall in (and subsequently damaging all of your stuff) just met its match in renters insurance.
Portland residents looking for more information on renters rights and resources should check out the following:
Community Alliance of Tenants: CAT is a statewide, grassroots tenant-controlled and tenant-rights organization. The organization’s mission is to educate, organize, and develop leadership of low-income tenants, according to their website.
Portland Housing Bureau: City of Portland organization that provides rental services and attempts to solve resident’s unsolved housing needs.
South Portland Tenant Rights: Tenant resources, rights, and responsibilities for South Portland residents.
Portland Housing Center: Housing and rental information resources for Portland residents.
Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.
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Yes, we have to include some legalese down here. Read it larger on our legal page. Policygenius Inc. (“Policygenius”) is a licensed independent insurance broker. Policygenius does not underwrite any insurance policy described on this website. The information provided on this site has been developed by Policygenius for general informational and educational purposes. We do our best efforts to ensure that this information is up-to-date and accurate. Any insurance policy premium quotes or ranges displayed are non-binding. The final insurance policy premium for any policy is determined by the underwriting insurance company following application. Savings are estimated by comparing the highest and lowest price for a shopper in a given health class. For example: for a 30-year old non-smoker male in South Carolina with excellent health and a preferred plus health class, comparing quotes for a $500,000, 20-year term life policy, the price difference between the lowest and highest quotes is 60%. For that same shopper in New York, the price difference is 40%. Rates are subject to change and are valid as of 2/17/17.
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