Greetings from QuoteDesign, your trusted insurance agency in Redmond, Oregon! As wildfire season looms closer, we understand that you may have pressing questions about how these natural disasters could affect your home insurance policy. Given the complexities involved, let’s dig deep into this critical subject, specifically in light of new legislation that aims to protect homeowners like you.

How Does the Division of Financial Regulation Affect Your Coverage?

First things first, it’s crucial to understand the role of Oregon’s Division of Financial Regulation (DFR) in regulating the insurance industry within the state. DFR ensures that insurance companies, including us at QuoteDesign, adhere to all legal requirements.

The DFR isn’t just a regulatory body; it also serves as a consumer advocate. They offer free assistance by investigating complaints and conducting educational programs on wildfire preparedness. This information can be indispensable for anyone residing in wildfire-prone areas. For more details, you can visit DFR’s website.

New Legislative Updates: What is Senate Bill 82?

A significant development that could affect your home insurance in Oregon is Senate Bill 82. This bill aims to restrict how we and other insurance companies use wildfire risk maps when determining policy premiums and renewals. The good news is that this bill fosters greater transparency between you, the homeowner, and your insurance provider1.

For those interested in diving into the details, we recommend this thorough article by Jefferson Public Radio: Oregon bill to restrict insurance company use of wildfire risk maps heads to governor.

Wildfire Coverage: A Requirement in Oregon

We’d like to remind our valued clients that every homeowner’s insurance policy in Oregon must include wildfire coverage. That’s not an optional add-on; it’s the law.

The Oregon FAIR Plan: Your Insurance Safety Net

Oregon has a vibrant market with nearly 150 insurance businesses actively writing policies. At QuoteDesign, we work diligently to offer you tailored coverage that fits your needs. However, if you’re struggling to find adequate coverage due to your property’s location or other factors, the Oregon FAIR plan can serve as a last resort.

Be Prepared and Stay Informed

At QuoteDesign, we don’t just sell insurance policies; we build relationships. As your dedicated insurance agency, we’re here to help you navigate the often confusing landscape of home insurance in wildfire-prone areas. Therefore, we suggest you:

  1. Regularly review your insurance policy for comprehensive coverage.
  2. Implement risk mitigation steps like creating defensible spaces around your property.
  3. Stay abreast of legislative changes impacting your insurance coverage.

For any questions or to update your insurance policy, don’t hesitate to contact us. Together, we can make sure you’re as prepared as possible for this wildfire season.

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