There is no law in Oregon requiring any homeowner to carry homeowner's insurance on their property, but if your home has a mortgage on it, your mortgage company will require at least enough homeowner's insurance to cover the financial institution's investment if your property were destroyed by fire or other disaster.

Also, for most people their home represents their biggest financial investment and most homeowners want to protect that investment.

Of course, while homeowners want to protect their homes with homeowner's insurance, they still demand to get the best rates on homeowner's insurance in Oregon.

Fortunately there are steps you can take to help keep the cost of homeowner's insurance within reach for most people.

First, if you can set aside some money each year that can be used to pay for some repairs to your home in case of an insurance claim then you might consider raising the deductible on your policy. The higher the deductible the lower your monthly premiums will be.

If possible, consider paying your premiums a year at a time rather than month to month. Virtually all insurance companies offer a premium discount for such prepayments.

Take whatever steps you can to improve your overall credit report or to keep it good. Many people aren't aware that your credit report has an effect on your homeowner's insurance premiums.

Install smoke and fire detectors and make sure they are working. Also, buy at least one fire extinguisher (at least one for the kitchen); doing so will also give you a break with most insurance companies.

Keep bushes and grasses cut back away from the house, especially away from windows and doors where burglars can use them as hiding places. Make sure each door has a good, working deadbolt lock and make certain all windows, even upper story windows can be locked.

Review your policy with your insurance agent every two years, or more often if you have made changes to your property or installed a burglar alarm system or anything else that would make your property safer.

Most property owners want to protect their greatest investment, and with a little planning and common sense you can do so while still getting the best rates possible on your homeowner's insurance.