Lake Oswego Home Insurance Rates
Your home in Lake Oswego, OR is your castle and is probably your most valuable asset. The right Lake Oswego home insurance rates should provide coverage for your home and contents, as well as liability coverage if a guest is hurt or injured. Schmidt Insurance Group will customize a policy just for you.
Schmidt Insurance Group opened its doors in Lake Oswego in 2019 with a goal of making insurance easy while providing exceptional customer service. We proudly serve the local Portland area as well as all of Oregon and Washington.
Our team consists of born-and-raised Oregonians who are specially trained in high-net-worth households and can help you find the exact amount of coverage you need.
What is Home Insurance?
Home insurance, also known as homeowner’s insurance, provides you with financial protection in the event of a disaster or accident that involves your home. It will help pay to repair, rebuild, or replace your home, other structures on your property, and your belongings should a destructive event, such as a fire, occur. It will also help cover your liability for any injuries or property damage to others that are caused by you or members of your family (including your household pets).
Is Homeowner’s Insurance Required?
If you have financed your home with a mortgage, your lender will most likely require you to have at least some basic homeowner’s coverage. If you’re lucky enough to be able to pay cash for your home without a mortgage, or you’ve paid off your mortgage, you could skip the home insurance… but it’s a good idea to have it anyway!
Instead of putting your finances and your family’s future in jeopardy, invest in a home insurance policy from Schmidt Insurance Group and enjoy peace of mind!
What Factors Affect Rates?
There are a variety of factors insurance companies will consider when determining your home insurance rates, from the number of people who live in your home to the shape of your roof! They include:
- Location: Is your home located in the woods and surrounded by shrubs and grasses? This could increase its vulnerability to fire. Is there a fire station nearby? Does your neighborhood have a history of break-ins? The location of your home is one indication of how risky it may be to insure. The higher the risk, the higher your rate will be.
- Characteristics: The size and type of home you own can also affect your insurance rate.
- Age: Older homes typically cost more to replace, so the older your home is, the more it will probably cost to insure.
- Structure: How your home was built is another contributing factor. Masonry/brick homes, for example, withstand wind better than wood frame ones. On the other hand, frame homes are better able to withstand earthquakes.
- Garage: Size matters! It’s more likely that your 3-car garage will be broken into (because it can hold more stuff) than a 1-car garage. More risk typically equates to higher insurance premiums.
- Insurance history: Do you file insurance claims for small occurrences or only in the worst-case scenario? If you’ve had home insurance for years but filed no claims, your rate may be more favorable than someone who files frequent small claims.
When you own a home in Lake Oswego, OR, get home insurance rates from Schmidt Insurance Group to protect your home and personal belongings. We know our Schmidt and make it easy to find the coverage you need! Contact us today at (503) 506-4554 for a free quote and see how we can help.
