Living expenses in the Beaver State appear to be fairly high in comparison with many others. However, the cost of auto insurance doesn’t appear to be too bad. Also, numbers of Uninsured Drivers are not bad either at 10%. This is below the national average of 14%. There may not be any scientific evidence but you don’t need evidence to understand that cheaper rates help drivers afford policies. That may be why we see lower premiums and higher take-up figures.
Oregon Vehicle Insurance Laws and Requirements
Minimum requirements are interesting and require a little explanation. OR has regular minimum liability coverage requirements. Plus, it has a “no-fault” provision that requires drivers to buy Personal Injury Protection. It also mandates a minimum UMC. Here are the requirements and limits;
- $25,000 for bodily injury or death per person.
- $50,000 total for bodily injury or death per accident.
- $25,000 for property damage.
- $15,000 per person for personal injury protection.
- $25,000/$50,000 for uninsured motorist coverage
You can see these figures on the state Department of Motor Vehicles site. While Oregon has a no-fault provision, it is not truly a no-fault insurance state. It requires its motorists to buy the no-fault element but doesn’t control how people use it. In other words, you may have coverage for small injuries in an accident that was caused by someone else.
However, the state allows a not-at-fault accident victim to sue (without restrictions) the at-fault driver for pain-and-suffering and disability damages.
A broker can help you understand policies well. You can also find out a lot by searching for answers on the Internet. If you feel you know enough you can check online quotes and see if you can reduce costs.
Automobile Insurance Prices in Oregon
Average premium cost is $783 and that is below the national average. Generally, policies don’t appear to be expensive here no matter what type of coverage you require. For example, the median cost of full coverage is $1267 and this is cheaper than the US average too. Buying enough protection is always handy, especially if you have to make a claim one day. Otherwise, knowing you have a good policy offers comfort.
What a typical driver pays is one thing, what you pay is another. There are many people who spend a lot of money in a fairly cheap state or vice versa. Every individual should make an effort to find the best coverage, most reliable vehicle insurer and cheapest premium for their circumstances.
If you want to get three things right you may need to compromise. Looking a bit deeper can help you make a better decision. For example, you may not be happy with a carrier who is offering you a great policy package and price at the beginning. When you research about them you may find that there is nothing to worry about.
Cheaper Car Insurance Companies in Oregon
Finding the cheapest source helps a lot while searching lower premiums. You can check these companies for the best rates first and line up a few others to get quotes from. Remember that the most competitive will change depending on your circumstances. For example, the carriers below may not be cheap if you have a bad record.
- GEICO, $580
- Oregon Mutual, $687
- Country, $718
Usually each quote can be significantly different. At times, the fluctuation can be more than five times between the cheapest and most expensive that you must make sure to compare all the alternatives. Otherwise you can end up paying a lot more than you bargained for. This is what can happen if you just trust an agent or broker and don’t shop around.
Low premiums are enjoyed across the state with most cities falling nicely around the average prices. There are only two cities that strike as expensive in comparison with the rest and they are Portland and Gresham. The above 3 names appear to remain competitive in most cities. This goes to show that they have done their homework and are quite keen to stay in this region.
Auto Insurance Portland Oregon
The city is famous for quirky culture and home to interesting coffee shops, boutiques, gastro restaurants and microbreweries, including the Art Museum. It is also one of the greenest cities in the country. It is the largest and therefore it is not surprising to see that it has the most expensive rates, which are about 1/4 higher than the average.
You can easily save around $500 by shopping around. There isn’t a single discount that can be this much rewarding and it isn’t easy to qualify for them in any way. The largest possible auto insurance discount is offered for having no traffic tickets and claims for at least three years and it isn’t an easy task to accomplish.
Companies are on a wide price span as expected of any similar place with varied neighborhoods. Therefore, it is almost foolish not to get alternative quotes and compare them thoroughly. If you want to reduce city premiums in Portland you can follow the link for our tips, which are specific to metropolitan residents.
There are so many effective methods to cut costs other than shopping around no matter where you live. Your rates may be slightly higher because of the increased minimum requirements in your zip code. Where you live affects rates in different ways too as it is clear from the Portland example. Choosing a nice neighborhood is one of those ways that help you get better prices. You can also get lower quotes by making sure that you have private parking. Being close to work may qualify you for discounts as well as driving less by taking public transport. These are only some of the options available to motorists who like to pay less for car insurance.
You should take responsibility and make sure that you are properly protected. If you are legally forced to buy a policy anyway why not spare some time and do a good job of it? You can find out more about choosing the right company by reading further here or checking other websites. There are plenty of sources of information these days, including many quote platforms just like the one we have above.