Moving to Oregon is a great way to cut costs and enjoy the great outdoors. From surfing to rafting to hiking, there are plenty of ways to enjoy nature throughout the state. If you are planning to move to Oregon or a neighboring location, you might want to rent a place to do so. You will also need to purchase adequate renters insurance to financially protect your belongings from any named peril. This article gives you an overview of everything you need to know about the best renters insurance in Portland.
What does your renters insurance policy typically cover?
The main areas covered by renters insurance in Portland and other Oregon locations include personal property, loss of use, liability and medical protection. These are similar benefits to what a homeowners’ policy includes. If your personal belongings are stolen or destroyed by a fire or any other named fiasco, a renters policy pays to replace certain items.
Liability is a central component of the renters policy, as it protects visitors to your rental space if they are injured or become ill. So if you rent an apartment in Portland and want to throw several small parties, it’s good to have liability protection. The policy will pay for medical expenses. It will also pay you for living expenses if you’re ever forced out of your rental space due to a disaster.
Do I actually need renters insurance?
While no federal, state, or local law requires you to carry renters insurance in Oregon, it’s simply a wise choice if you own valuable items. Many renters assume their landlord’s commercial property policy will pay for all losses, but it won’t. The landlord’s policy likely just protects the structures and not the contents within them.
What’s the ideal amount of renters insurance coverage?
The right coverage amount for one Oregon resident may be different from their neighbor. It depends partly on the risks associated with renting space on someone else’s property. You can ask your landlord about insurance, but they’ll probably tell you that you need your own renters coverage. The amount you need depends on multiple factors, including location, lifestyle, and your claims history.
Coverage limits are another consideration as standard renters policies will only cover up to a certain limit, such as $100,000. You can extend coverage limits at higher costs, which is worth it if you own valuable items such as high-end computers or unique or expensive jewelry.
Some excellent places to rent in Oregon
Portland is the largest city in Oregon and attracts many tourists. It’s known for its unique coffee shops and forward-thinking culture. While rent prices continue to go up across the nation, it’s possible to find a one-bedroom apartment in Portland for about $1,350 per month. That’s still much cheaper than San Francisco or New York City.
If you want to move closer to downtown to enjoy the nightlife, there are two-bedroom units near Lake Oswego for around the same price. A three-bedroom home in the area rents for about $3,400 per month.
Plus, there are plenty of places to visit in Oregon connected with pop culture. The Kingsmen, for example, came from Portland before their hit “Louie Louie” became world-famous.
If you prefer a quieter location, you could go for Astoria, which is about a two-hour road trip from Portland. If you really want to escape civilization, you could opt for small towns like Bend that offer biking, hiking, rock-climbing, and skiing. Both Astoria and Bend have higher average rent costs.
If you still have questions about moving to Oregon or are looking for the best renters insurance in Portland, call our insurance experts at Action Insurance Group in Portland, OR, or Vancouver, WA. We are happy to welcome you to the area and develop a personalized renters insurance plan for you.
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