Home Insurance What does the Oregon FAIR home insurance plan cover? By Barbara Marquand | Posted on May 16, 2011 Why you should trust Insure.com Quality Verified At Insure.com, we are committed to providing honest and reliable information so that you can make the best financial decisions for you and your family. All of our content is written and reviewed by industry professionals and insurance experts. We maintain strict editorial independence from insurance companies to maintain editorial integrity, so our recommendations are unbiased and are based on a comprehensive list of criteria. The federal government made Fair Access to Insurance Requirements plans possible in the late 1960s to make property insurance available to people who couldn’t otherwise qualify for it. The FAIR plan in your state is available through the Oregon FAIR Plan Association, a high-risk insurance pool created by the state legislature and supported by the property insurance companies licensed to do business there. You qualify for a FAIR home insurance plan only if you can’t obtain coverage in the regular insurance market. The association says to check with at least two insurance companies to find coverage before resorting to the FAIR plan–an insurance agent can help you apply. The Oregon FAIR plan covers the actual cash value for losses (the cost to replace property, minus depreciation) up to a maximum of $300,000. The plan does not provide coverage for liability or theft, nor does it offer “floaters” for additional coverage for jewelry, coins and other valuables. Standard home insurance plans limit the amount of coverage on such belongings. Exclusions vary by policy, so work closely with an agent to understand exactly what a policy covers and doesn’t cover and under what circumstances. The Oregon FAIR Plan Association has further information on its website. For more, see FAIR plans: Home insurance for ‘high-risk’ properties. In case you missed it What is HO-6 insurance? Average home insurance cost in 2023 What is dwelling coverage and how much do you need? Personal liability insurance: What it is and why you need it Renters insurance quotes: Compare rates Hurricanes and home insurance: 14 key questions answered Replacement cost policies for your home: Getting what you pay for How much do claims increase home insurance rates? Mobile home insurance: What does it cover and how much does it cost? Homeowners insurance basics Home Insurance Advisor The Best Cheap Homeowners Insurance of 2021: Guide How much flood insurance do I need? How to bundle home and auto insurance policies to save money The largest home insurance companies by market share Home Insurance Discounts Guide to dog liability insurance: cost and coverage Do you have an emergency go-bag? Most Americans don’t 1/1 Related Articles Does homeowners insurance cover rotting wood? By Penny Gusner What is hurricane insurance? By Shivani Gite Is it legal for my home insurance company to drop my coverage after filing claim? By Shivani Gite What is HO-6 insurance? By Shivani Gite Are landlords responsible for tree damage to your car? By Casey Bond Can my homeowners insurance get canceled because my house is empty? By Nupur Gambhir Get instant quotes now ! Please enter valid zip Get Quotes