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This page features fast facts and helpful hints for Oregon car owners who wish to lower their annual premiums on car insurance.
Minimum Liability Coverage
Oregon state law requires a minimum coverage of 25/50/20 for each owned vehicle.
This means each driver must buy $25,000 in personal injury protection, $50,000 in per-accident insurance against death or injury to others, and $20,000 insurance against property damage.
Most car owners who drive in the state of Oregon buy the minimum required insurance
However, financial analysts insist that 100/300 is the minimum personal liability coverage needed to cover the actual costs of auto accidents.
Penalties for Uninsured Drivers
Oregon drivers who are ticketed for lack of up-to-date car insurance run the risk of having their driver's licenses suspended or, in some cases, revoked.
Additional financial blows include costly reinstatement fees and raised premiums for the following year.
The Average Annual Auto Insurance Premium in the state of Oregon was $1,387 last year, with the national average around $1,510 at the time.
Oregon's lower-than-average rates for car insurance may be due to any of a number of factors.
Actuaries who calculate premiums consider statistical variables like rates of car theft, speeding violations, and DUIs.
They also analyze environmental factors like weather conditions, topography, and road quality.
Finally, they look at individual demographics like the driver's age, gender, employment status and driving record, among other things.
Cost of Car Insurance
Here are some ways in which auto owners in Oregon (and all over America) greatly reduce their car insurance costs:
Pay the premium all at once instead of monthly.
Increase your out-of-pocket deductible.
Only drive vehicles with permanently installed safety features.
Choose vehicles less likely to get stolen.
The biggest savings on annual auto insurance rates are the discount programs offered by most carriers.
Available discounts include Accident-Free discounts, Good Driver discounts, Good Student discounts, Senior Citizen discounts, and Multiple Policy discounts, to name a few.
Oregon's largest car insurance carriers are State Farm, Farmers Insurance, Safeco, Progressive, American Family, Allstate and Geico.
Of these, Progressive has the fewest online complaints against it. Allstate has the highest complaint rate, followed closely by Safeco, Farmers Insurance and Geico.
According to J.D. Powers & Associates, the best car insurance companies for drivers in the state of Oregon are Amica Mutual, Erie Insurance and Auto Owners Insurance.
Some Oregon drivers opt for regional businesses like Mercer or Western National.
In any case, grab a few free quotes online. Then call a few local agents and ask ALL OF THEM about their discounts.
Since all carriers are, more or less, the same, just grab the cheapest premium package you can get. Doing this will save you hundreds of dollars every year on car insurance.
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