Car insurance in Oregon is a legal requirement for the 2,808,548 licensed drivers who own a registered vehicle in the state. The average driver pays $1,363 for a full coverage policy and $579 for a minimum coverage policy. However, Oregon drivers can find more affordable car insurance by choosing a provider that offers cheap policies.
The cheapest car insurance in Oregon
Finding cheap car insurance in Oregon is relatively easy. But drivers should know that not all car insurance companies are created equal. These are the best cheap car insurance providers in Oregon, and their average annual minimum coverage and full coverage premiums:
| Car Insurance Company | Average Annual Premium for Minimum Coverage | Average Annual Premium for Full Coverage |
|---|---|---|
| USAA | $455 | $1,052 |
| Travelers | $476 | $963 |
| State Farm | $489 | $1,043 |
| Geico | $490 | $1,293 |
| Farmers | $531 | $1,228 |
USAA
Oregon drivers who are active duty military members or veterans qualify for USAA car insurance. USAA is widely considered to be one of the best car insurance companies on the market, with the highest overall customer satisfaction score from J.D. Power in every region.
The average Oregon driver pays $1,052 for a full coverage policy and $455 for a minimum coverage policy from USAA. Policyholders get access to a variety of impressive discounts for insuring a new vehicle, being a legacy customer, garaging a vehicle on a military base, being a good student, taking a defensive driving course and more.
Travelers
Travelers insurance offers the cheapest car insurance in Oregon. The average driver pays $963 for a full coverage insurance policy and $476 for a minimum coverage insurance policy. In addition to low rates, Travelers also offers unique coverage options, like new car replacement insurance.
With Travelers, Oregon drivers can save money on their policy by taking advantage of discounts. The company has special savings for electric vehicle and hybrid owners, homeowners, safe drivers, smart students, students away at school, paying in full, paying on time and having continuous insurance coverage.
State Farm
State Farm car insurance policies are much cheaper than the Oregon statewide average rate. The average driver pays $1,043 for a full coverage policy and $489 for a minimum coverage policy. Drivers can also take advantage of discounts to get a lower rate.
In Oregon, State Farm policyholders can save money on insurance by enrolling in one of the safe driver discount programs, Drive Safe & Save or Steer Clear. There are also discounts for being a good student, taking a defensive driving course, having a vehicle with an anti-theft device, insuring multiple cars, bundling a home and auto insurance policy and more.
Geico
Geico offers one of the cheapest car insurance policies in Oregon, but the coverage is fairly limited. The average full coverage insurance policy costs $1,293 per year and the average minimum coverage policy costs $490 per year.
Despite offering basic coverage, Geico has a robust list of discounts that can help Oregon drivers get a lower rate. There are discounts available for military members, federal employees, employee/membership groups, good students, being accident-free, paying in full and having a vehicle with airbags, anti-lock brakes, an anti-theft system and daytime running lights.
Farmers
Farmers car insurance is affordable for most Oregon drivers, but the coverage and discounts are not as comprehensive as some other companies on our list. The average driver pays $1,228 for a full coverage policy and $531 for a minimum coverage policy.
Oregon drivers can get a cheaper rate by qualifying for at least one of Farmers’ discounts, which include being accident-free, bundling multiple policies and enrolling in the Signal safe driver program. Farmers also offers some state-specific discounts that are not advertised on its website.
Affordable coverage for Oregon drivers
Drivers in Oregon are required to carry a minimum amount of personal liability and uninsured/underinsured motorist insurance. Minimum coverage is represented as 25/50/20, which includes:
- $25,000 in bodily injury coverage per person
- $50,000 in bodily injury coverage per accident
- $20,000 in property damage coverage per accident.
In addition, Oregon drivers are required to carry Personal Injury Protection (PIP), with minimum coverage limits of $15,000 per person. PIP insurance covers a driver’s medical expenses and lost wages after a crash, regardless of which driver is responsible.
Drivers who purchase the minimum amount of required insurance pay the lowest rate. However, car accidents can be expensive and there is no guarantee that Oregon’s minimum coverage limits will cover the full cost of an at-fault crash. Additionally, liability-only insurance offers no protection for the vehicle itself.
How to get cheap car insurance in Oregon
Drivers who are looking for the cheapest auto insurance in Oregon should consider some alternative ways to get a low rate. Here are some other ways to get cheap car insurance:
- Shop around: Instead of settling for the first insurance company you find, spend some time shopping around and comparing providers. You can also get price quotes from a few providers to see which one has the lowest rates for your coverage needs.
- Increase the deductible: Increasing the policy’s deductible will lower your monthly premium. However, make sure you can afford the higher out-of-pocket deductible before changing it.
- Pay in full: Most insurance companies will give drivers a discount for paying their annual premium upfront and in full, rather than in monthly installments.
- Improve your credit score: Your credit score is one of the biggest factors that impacts your insurance rate. Improving your credit score can help you get a cheaper premium.
Frequently asked questions
What is the best car insurance in Oregon?
The best car insurance company comes down to personal preference. It depends on the driver’s budget, the type of coverage they need and the amount of coverage they need. The best car insurance company in Oregon is different for every driver, but some of the highest-rated companies are USAA, PEMCO, Geico and Progressive.
What is the average cost of car insurance in the U.S.?
The average cost of car insurance in the United States is $1,738 for a full coverage policy. In Oregon, the average full coverage policy costs $1,363. Oregon drivers pay about $375 less than the nationwide average.
How do I get a car insurance quote?
Most car insurance companies offer an online quote tool, where you input some basic information about yourself and your vehicle and get an instant rate estimate. You will need to provide your name, birthday, address and social security number, plus the vehicle’s VIN number, mileage and make, model and year. For insurance providers that do not have an online quote tool, you will need to contact an agent.
Methodology
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
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Cheapest Car Insurance in Oregon 2021 - Bankrate.com
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