As with any purchase, before you sign on the dotted line, you should comparison shop and investigate the product or service.
This background research is especially relevant with car insurance, and it can help you save a substantial amount and still get the best car insurance in Oregon.
The overall price of your insurance policy depends on a variety of factors. Some of these you can change, such as what car your drive; while others remain fixed, like your age.
One critical element that affects the price of your insurance is where you live.
Collecting quotes from different companies can help you get a better idea of the fair price in your region.
Once your research is complete, including reading customer reviews, you’re one step closer to getting a great deal.
The information listed below can give you a better idea of what contributes to the cost of auto insurance and help you find the provider that offers the best car insurance in Oregon.
After you’ve finished this guide, you should be able to save some serious cash on this beneficial and necessary product.
Average Cost of Car Insurance In Oregon
The average cost of car insurance in Oregon in 2015 was $904.83.
This rate has steadily risen from $804.59 in 2010 but is still below the 2015 national average of $1,009.38, according to the 2017 report by the National Association of Insurance Commissioners.
This report suggests that it’s cheaper to insure a car in Oregon than in all of its neighboring states, with the exception of Idaho.
|Average Cost of Car Insurance in Oregon||$904.83|
|Average Cost of Car Insurance in Idaho||$679.89|
|Average Cost of Car Insurance in California||$986.75|
|Average Cost of Car Insurance in Washington||$968.80|
|Average Cost of Car Insurance in Nevada||$1,103.05|
|Countrywide Average Cost of Car Insurance||$1,009.38|
Factors That Can Affect The Cost Of Car Insurance
Some factors, directly and indirectly, affect the cost of insurance in Oregon.
- Traffic Conditions
- Vehicle Theft Rates
- Population Density
- Disposable Income
Traffic Conditions In Oregon
The National Association of Insurance Commissioners (NAIC) report states that Oregon has a traffic density of 471,020. This figure is calculated by comparing the miles traveled by all registered cars to the total of highway miles in the state.
Oregon’s rate is much lower than the nationwide average of 724,348. The number of vehicle miles recorded, that is, all the miles traveled by all cars against registered vehicles in the state is also lower than the national average at 10,394 compared to 12,010.
The rate of fatal accidents on Oregon’s roads is 0.11 per 1,000 registered vehicles, slightly lower than the national average of 0.13 per 1,000 cars. These three factors, which are all lower than the national average, may favorably affect the price of your insurance.
Vehicle Theft Rates In Oregon
According to the FBI’s Crime in the United States report, Oregon has a reported stolen vehicle rate of 322.3 per 100,000 residents.
This figure is higher than the national average theft rate of 236 per the same amount of residents.
The 2016 Hot Wheels report by the National Insurance Crime Bureau lists the vehicles commonly stolen in Oregon as the 1997 Honda Accord, 1998 Honda Civic, 997 Subaru Legacy, 1999 Ford full-size pickup, and 1991 Toyota Camry.
You may find that driving one of these vehicles adds to the cost of your insurance.
Population Density In Oregon
The population density of a state is one of the factors that can have an indirect impact on the price of car insurance.
According to the 2017 report by the NAIC, higher population density results in more vehicles on the roads and an increased possibility of accidents and theft.
Oregon’s rate of 44 persons per square mile as of 2014, is under half the national average of 90 persons per square mile.
When examining insurance quotes, take the population density of your city or town into consideration.
Disposable Income In Oregon
According to the 2017 report by the NAIC, the higher an area’s disposable income, the more likely it is that consumers will drive newer and more expensive vehicles.
These often need coverage that exceeds the state minimum requirements and is also responsible for more substantial dollar amounts when claims occur.
In Oregon, as of 2014, the disposable personal income per capita was $36,445, slightly lower than the national average of $40,859.
This lesser income level may help reduce insurance rates.
Companies With the Best Car Insurance in Oregon
It can pay to shop around for auto insurance, so always get a minimum of three quotes before you buy because every company offers different discounts.
Read customer reviews and examine the financial strength of each company so you a better idea of how it operates.
Listed below are some well-known insurance providers that provide service in the United States:
Founded in 1937, Progressive provides policies to around 18 million drivers throughout the United States, and it is one of the largest, most trusted car insurance providers in the country.
Liberty Mutual provides an extensive range of coverage options, with something to suit almost every need.
It has many special offers and incentives to reward sensible drivers, including price reductions.
Esurance was one of the first insurance companies to offer online services, starting in 1999.
Since then, it has taken steps to make sure it’s at the technological forefront of the insurance industry, and it provides a variety of software options that help customers save as much money as possible.
American Family Insurance is based in Wisconsin and provides several types of insurance, including auto, to customers around the United States.
Established in 1927, American Family is committed to delivering fully customizable plans that are relevant to an applicant’s needs.
Founded in 1868, MetLife has around 2.7 million active policies throughout the United States.
MetLife offers a variety of enticing features including annual discounts for safe drivers and new car replacement and special parts replacement coverage options.
Travelers is a popular choice for car insurance, and it is a name that Americans have trusted for over 160 years.
With several packages choices and policy options, Travelers is suitable for most drivers.
What Is Mandatory For Car Insurance In Oregon
It’s a state law in Oregon for every driver to have minimum insurance coverage. Minimum mandatory coverage levels are:
- At-Fault Accident: $25,000 per person, with a maximum amount of $50,000 per incident that you’re involved in
- Property Damage: $20,000 per accident
- Personal Injury Protection: $15,000 per person
It’s against the law to drive in Oregon without liability coverage. Antique vehicles and certain types of farm vehicles are exempt from financial responsibility requirements, but only if they have a permanent registration.
If you have any uncertainties regarding mandatory insurance, it’s best to consult the Oregon Driver and Motor Vehicle Services website.
To get the best car insurance in Oregon, you should have the following information ready when you request a quote.
- The make, model, year, and safety features of your vehicle
- Personal details of the driver, including age, occupation, and driving history
- Where you live and where you park your car
How to Reduce the Cost of Your Car Insurance in Oregon
You can take steps to lower your annual premiums. While you can’t reduce the cost to zero, with a little research, you should be able to adjust your policy and apply for available discounts.
Raising Your Deductible
If you’re prepared to pay a higher deductible amount, you can often get a lower insurance rate.
Keep in mind, though, that if an accident occurs you will have to pay more out of pocket.
Reducing Optional Insurance on Older Cars
If you’re driving an older vehicle and its cash value is decreasing rapidly, you may find yourself better off without collision and comprehensive insurance.
Generally, when the value of your car drops below ten times your premium, it is not worth covering for comprehensive and collision.
If your car has the latest safety technology, you may get a lower premium.
Even older cars are often equipped with passive restraint systems and anti-lock brakes, so make sure to provide your insurance carrier with a complete list of safety features.
Many providers offer discounts for installed alarm systems.
If you drive an older car that doesn’t have modern anti-theft devices, you still have options that may result in a discount such as keeping your car in a garage overnight, installing a GPS tracker, and fitting a steering lock.
What Can Increase the Cost of Your Car Insurance
Just as there are factors that can reduce your annual premium, there also items that can cause the cost of your insurance to rise.
While you can avoid some of these, other issues are less easy to resolve.
However, even small changes may help you score a big discount on your car insurance.
If you have a poor driving record, the price of your car insurance may reflect this.
Even if your last incident was some time ago, insurance companies might still deem your history to be indicative of poor judgment and dangerous driving habits.
However, you can rectify this by taking part in driver safety courses.
Insurance providers often view teenagers and the elderly as high-risk groups.
You may be able to get around this by enrolling in a defensive driving course or showing proof of driver’s training classes.
The more expensive your car, the higher your policy costs, due to increased theft risk and the potentially more significant repair costs.
If you drive a heavier vehicle, such as a pickup truck or an SUV, which is likely to cause much damage to another car or property in an accident, you could also face higher premiums.
After reading the above information, you should have a better idea of what goes into determining the cost of car insurance.
Use the provided tips and suggestions in your search to find the best car insurance in Oregon.
*While we make every effort to keep our site updated, please be aware that “timely” information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.