Wildfire season is just around the corner, and like it or not, it’s going to affect a lot of property owners across Central Oregon.
If you’ve tried shopping for fire insurance lately, especially in or around Bend, you’ve probably noticed it’s getting tougher. With wildfire risks on the rise, premiums are climbing, some policies are getting canceled, and in some areas, it’s getting harder to find coverage at all.
Homeowners in Bend and across Central Oregon are seeing major hikes in insurance costs. Since 2020, premiums have jumped nearly 30% statewide and in some places, they’ve even doubled or quadrupled. On top of that, some insurance companies like Safeco and Progressive have stopped writing new policies in higher-risk ZIP codes, including parts of Bend, Sisters, Sunriver, and La Pine.
So, what’s going on? A few things are driving this. But it is mostly wildfires that are becoming more frequent and more intense, not just out West, but even on the East Coast. Many experts point to climate change as a major factor, others point to forest and wildland management practices. No matter what caused the fires the result is insurance companies are taking bigger financial hits and are choosing that in high risk areas it is not worth the risk.
Now, while Oregon law does require that home insurance policies include fire coverage, it doesn’t stop insurers from
deciding not to renew policies or from refusing to offer coverage if they see your property as too risky. On top of that, some of the big reinsurance companies, the ones that help back up the everyday insurers, are pulling out of areas they consider high-risk, like parts of southern Deschutes County. That’s led to even higher premiums or insurers stepping away from the region entirely.
If you’re feeling the pinch or having trouble getting fire insurance, here are a few things you can do:
Shop around: Different insurers have different risk models, so getting multiple quotes might uncover better options.
Improve your property’s fire resilience: Create and maintain defensible space around your home and using fire-resistant materials can sometimes make you more insurable.
Check out FAIR plans: The Fair Access to Insurance Requirements (FAIR) plan is a state-backed option for homes that can’t get coverage through traditional insurance. Here is their web page, https://orfairplan.com/
If you are looking to purchase a home no matter the location, once you know where the home is located, check with your preferred insurer to see if they will insure the home and property. Without an insurance policy you will not be able to finance the purchase of the home.
