Cheapest Car Insurance in Oregon
When you’re shopping for the cheapest car insurance in Oregon, it’s essential to be a savvy consumer. A little background research can help you find the best rates.
Comparison shopping for insurance rates feels like it’s very time-consuming; many people skip it altogether.
However, life changes such as getting married, moving to a different zip code, or buying a new car may mean that your current insurer no longer has the best rate for you.
To begin with, you need to understand the basics of car insurance, including what types of coverage you need.
For more help here, our guide to getting the right auto insurance can be really useful.
Companies With The Cheapest Car Insurance In Oregon
Here are the 4 best providers of the cheapest car insurance in Oregon:
Whether you love her or hate her, Flo has made Progressive a household name.
Progressive has always offered an innovative approach to insurance, and it was the first company to allow installment payments on insurance policies.
Consumers could buy online policies from the company as early as 1997. Today, Progressive is one of the leading insurance companies in the country.
Esurance is a subsidiary of Allstate. The company was founded in 1999 and was also one of the first companies offering policies in the online space.
It has over 3,000 associates nationwide and provides car, motorcycle, homeowners, and rental policies.
Allstate was initially part of Sears, Roebuck, and Company, but became its own company in 1993. Allstate’s commercials feature the character “Mayhem,” played by Dean Winters.
Its online app, Quick Trip, helps users map out their day to use their time and vehicles more efficiently.
American Family offers auto, life, health, and homeowners insurance through local agents. Since local agents are more likely to be familiar with your area, they may be more responsive to your needs.
The company sponsors several charitable endeavors including community building grants and the Dream Bank.
How Much Is Car Insurance In Oregon?
Oregon’s rates are some of the lowest in the country. According to the National Association of Insurance Commissioners’ Auto Insurance Database Report completed in December 2017, Oregon’s average car insurance premium is $904.93, more than $100 less than the national average.
|Average Cost of Car Insurance in Oregon||$904.93|
|Average Cost of Car Insurance in California||$986.75|
|Average Cost of Car Insurance in Washington||$968.80|
|Average Cost of Car Insurance in Idaho||$679.89|
|Countrywide Average Cost of Car Insurance||$1,009.38|
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Car insurance rates can vary and are dependent on several factors.
With its lower population density, Oregon roads are considerably less congested than in the rest of the U.S. Oregon averages 0.11 fatal accidents per 1000 registered vehicles; NAIC places the countrywide average at 0.13.
Lower rates of fatal accidents correlate to lower insurance rates, meaning that people living in large urban areas can expect to pay higher rates than those who live in more rural zones.
Vehicle Theft Rates
Car theft rates in Oregon are surprisingly high. Oregon’s rate is 2.87 thefts per 1000 registered vehicles, higher than the national average of 2.74, according to the National Association of Insurance Commissioners (NAIC) report.
Regionally, Oregon ranks better than Washington and California, but lower than Idaho. There are many theories on why the rate of car thefts in Oregon are so high. Regardless of why, the fact remains that until there is a significant reduction in car thefts, it’s likely that this will continue to negatively impact car insurance costs in Oregon.
Oregon’s population density is incredibly low. According to the NAIC report, Oregon’s population density is just 41 people per square mile. Nationwide, the rate is 90 persons per square mile.
This reduced population density means that driving the roads in Oregon is safer, on average, than in many other parts of the country. Of course, car insurance rates in major metropolitan areas are usually higher than in more rural areas.
The NAIC report shows that disposable income in Oregon is lower than in other parts of the country. Oregon’s average disposable income is $36,445; both Washington and California have a higher average disposable income, at more than $40,000.
Only Iowa is lower, at $33,600. Lower total earnings translate to lower disposable income, and insurance carriers assume that less expensive or luxury cars may be on the road in these areas. Insurance rates may be the one area in which having less disposable income is beneficial.
What is Mandatory for Car Insurance in Oregon?
Mandatory requirements for car insurance in Oregon are:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $20,000 property damage liability per accident.
- $15,000 personal injury protection
- $25,000 per person uninsured motorist protection
- $50,000 per accident uninsured motorist protection
It may seem like an unnecessary expense to purchase uninsured/underinsured motorist coverage. However, given Oregon’s high vehicle theft rates, and the fact that almost 14 percent of drivers in the state don’t have car insurance, uninsured/underinsured coverage is a great way to protect your assets.
Many people choose to purchase only the state-required minimum liability insurance. However, if you own a home, have a significant amount of money in a savings or trust account, or have young drivers in your household, you should have a policy that helps protect you if the damage done in an at-fault accident exceeds your coverage limit.
Oregon requires that you carry proof of insurance in your vehicle at all times. If you do not have your insurance card with you, you will be subject to getting a ticket. Proof of insurance includes a proof-of-insurance card issued by your insurance company, a copy of your current insurance policy, or a signed letter from your insurance agent on company letterhead.
The Oregon Department of Motor Vehicles verifies insurance information monthly.
How To Reduce The Cost Of Your Car Insurance In Oregon
While the cost of insurance in Oregon is lower than the national average, there are ways to make your cost even lower.
Insurance companies look at your age, gender, and marital status to help determine your rates.
Here are some other tactics that can help you lower your rate:
Many insurance companies offer a discount if you have multiple policies with them. As you are comparison shopping, get rates for any other coverages you may need to see if it benefits you to bundle everything together.
Have a Safe, Reasonable Vehicle
A sports car costs more to insure than a sedan. A four-wheel drive beast costs more to insure than a small pickup. Choose a vehicle that can meet your needs, but without added features like lift kits or high-powered engines. Install anti-theft devices and keep your car well-maintained.
With vehicle theft rates so high, installing an anti-theft device such as a kill switch or GPS tracker may also help to reduce your insurance rate.
Raise Your Deductible
Raising your deductible can lower your premium, but be cautious that you don’t raise the deductible so high that you’re not able to meet it. If you choose to do this, it’s a good idea to set aside a bit of money in savings each month to apply toward your deductible.
Reduce Optional Coverages
If you won’t use roadside assistance, why pay for it? The same holds true for other optional coverages.
Ask For Discounts
Insurance companies offer many discounts; student drivers may save money if they have an excellent academic record. The insurance company may offer you a break if you pay your premium in full or if you opt for automatic payment methods.
As you are comparison shopping, don’t be afraid to ask which discounts each company offers.
Before you start comparison shopping, put together a list of relevant information:
- Name, date of birth, and driver’s license number of every driver in your household
- Vehicle Identification Number of every vehicle you need to insure
- Excluded Drivers
- Report cards for student drivers
- Proof of association membership if it offers you a reduced rate
What Can Increase The Cost Of Your Car Insurance In Oregon?
Many factors do impact the cost of your car insurance. Unfortunately, some of these can raise your insurance rates, including where you live and your gender.
Other Factors Include:
- Driver’s Age: It’s true that younger drivers can increase the cost of your insurance. If you have a teen driver in the house, it’s time to shop around to make sure that your current insurance company offers the best rate.Not surprisingly, having an older driver on your policy can also cause your costs to skyrocket. While experience does help when it comes to older drivers, factors such as health and eyesight can become issues for senior drivers. You often see rates increase after older drivers turn sixty-five.
- Poor Driving Record: A poor driving record can follow you around for a long time. As a rule, insurance companies look at five years’ worth of driving history. Some companies go even further back. The better your driving record, the lower your car insurance rate may be. Make responsible driving choices so that you can avoid tickets; you’ll see the benefits both now and later.
Shopping For Car Insurance in Oregon
Shopping for car insurance is often considered a necessary chore, and it can be tempting to call just one company and go with the quote it gives you.
However, when it comes to insurance, this is the wrong approach to take. Since the rates for insurance vary so much between companies, it’s crucial that you get quotes from at least three insurers before you make your decision.
As you shop around, think about factors other than cost that may make a company a better choice for you. For example, for some people, being able to reach a customer service representative over the phone is a priority; for others, being able to make policy changes online is a more important feature.
You can also read online reviews to get an idea about how a given insurance company treats its customers. Anyone is going to work hard to gain your business in the beginning. You want to make sure that you choose a company that works hard to keep your business in the long term.
You may be surprised that by shopping around, you can often find a company that fits your needs and provides the cheapest car insurance in your state.
Search for exceptional features such as online access, an app that allows you to file claims quickly, and excellent customer service staff that answer the phone whenever you have questions.