Oregon Mutual Insurance Review

Oregon Mutual Insurance (more commonly referred to as OMI) traces its roots back to 1894, when it was founded in McMinnville, Oregon. That continues to be the home of the company, which has expanded to offer coverage throughout Oregon, Washington, California, and Idaho.

Like many other insurance companies, OMI is a mutual firm, meaning policyholders are partial owners of the business, and may receive dividends and/or reduced premiums.

It’s the oldest insurance company headquartered in the west, and it offers products for homes, businesses, farms and private autos. Policies are brokered through independent agencies, so you’ll need to locate an agent in your town to obtain insurance from OMI.

Insurance Products

Auto Insurance

Oregon Mutual Insurance offers standard auto insurance, including coverages for liability, collision and medical payments. You can modify your policy by raising or lowering your deductible, which will affect your premiums, and by choosing to add additional coverage like roadside assistance or lease gap coverage.

There are a few additional policy options for owners of antique or classic cars, which can be very valuable and not always best protected by standard auto insurance. Motor home and RV insurance is also available through OMI.

There are additional discounts available such as:

• Loyalty Discount
• Package Discount
• Low Mileage Discount
• Defensive Driver Discount
• Family Discount

Aside from these, we were unable to find specialized policies or packages advertised by the company. This is not necessarily a drawback as many of the features advertised by major insurers actually offer little value for the added cost. OMI sells straightforward auto insurance, which can be a plus if the price is right.

Home Insurance

OMI offers property insurance for homes and condos, as well as personal property protection for renters. Policies offer standard protection against most common perils. In general, a standard homeowner’s policy will protect:

• The home itself
• Other structures on the property
• An individual’s personal belongings

Most policies will also include personal liability coverage to protect you from lawsuits if someone is injured at your home, as well as alternate living expenses to cover the cost of a hotel if your home becomes unliveable due to a covered loss.

Coverages for condo owners are similar, but they cover only the parts of your condo which you actually own, typically “between the studs.”

If you need additional protection, you can also purchase coverage for personal watercraft, both in storage and in use on the water. People with valuable personal property can also add “scheduled personal property” insurance, or SPP, to provide coverage for jewelry, furs, fine arts etc. at their appraised value.

It’s important to buy an SPP policy if you have expensive belongings as your insurance will almost certainly not value them at their worth otherwise. To add an item to your SPP policy, you’ll need to have it appraised and provide that appraisal information to the insurance company.

Commercial Insurance

Aside from its personal insurance policies, OMI also sells a number of plans for commercial interests, including small businesses and farms. You can buy coverages individually or purchase a bundled policy, called the business owners policy (bop), which will provide a combination of liability and commercial property protection.

Various specialized commercial coverages are available for different industries, including beauticians, restaurants, warehouses and funeral homes. Farm insurance is also available for both large and small agricultural enterprises.

Obtaining a Policy

Since Oregon Mutual sells its policies through independent agencies, you will need to contact an agent in order to obtain a policy. The “Get a Quote” section on the website is clearly labelled. There is also an email address and a 1-800 number provided as a contact method.

From the website, you can find the closest agent by inputting your zip code.

Claims

To report a claim, you can contact the 24-hour claims line at 800-934-3809. Alternatively, you can contact your agent and have them put in the initial claim report.

Once the initial claim has been filed, an adjuster will be assigned and contact you to complete the process. OMI’s website states that the average time for a call-back is 1.5 hours, which is more responsive than many other companies, but of course individual cases can vary.

Consumer Research and Complaints

Oregon Mutual Insurance has a A+ rating with the Better Business Bureau. There have been three complaints in the last three years, one of which was closed in the last 12 months.

Yelp shows only 5 reviews for OMI, one of which is positive, and another related to the same complaint on the BBB website. Overall, there is not a lot available when it comes reviews for Oregon Mutual.

Financial Strength

Rating Company	Grade	Financial Outlook
AM Best	A-	Stable
Fitch	N/A	N/A
S&P	N/A	N/A

Bottom Line

For a company as old as OMI, the company has remained pretty obscure. Like most agent-based companies, the quality of Oregon Mutual Insurance for any given customer will likely come down to the relationship you build with your agent. If you find a good, trustworthy agent who recommends OMI, it might be worth looking into.

For a list of companies that we recommend, visit our Best Insurance Companies page.

Review Information