In the picturesque state of Oregon, as with any state in the U.S., one of the most common queries revolves around car insurance costs. Based on our comprehensive analysis at QuoteDesign, we found the average costs, leading companies, and some handy tips to help you navigate the Oregon car insurance landscape.
What’s the Average Cost?
If you’re looking for a basic number, car insurance in Oregon costs, on average, about $67 a month or $807 annually for minimum coverage. This places Oregon’s rates at 20% higher than the national average auto insurance premium.
But as you might expect, several factors can cause that rate to fluctuate, including:
- Your driving record
- Age
- Residential location
- The extent of coverage you decide on
- The insurance company from which you purchase your policy.
RELEVANT: Factors that Determine Your Auto Insurance Rates
How Does Your Profile Affect Your Rates?
Different scenarios can greatly impact your premium:
- After an at-fault accident: $245/month
- Drivers with poor credit: $112/month
- Teen drivers: An eyebrow-raising $301/month
- Following a DUI: $125/month
It’s worth noting that these are averages, and your personal experience may differ based on the insurer and the specifics of your situation.
Insurance Costs by Company
Here’s a snapshot of what some of the top insurance providers charge in Oregon:
| Company | Minimum Coverage | Full Coverage |
|---|---|---|
| Allstate | $1,113/year | $2,353/year |
| American Family | $850/year | $1,436/year |
| Auto-Owners | $678/year | $1,609/year |
| Farmers | $1,182/year | $2,214/year |
| Geico | $417/year | $1,132/year |
| Nationwide | $712/year | $1,383/year |
| Progressive | $835/year | $2,267/year |
| State Farm | $536/year | $1,098/year |
| Travelers | $579/year | $1,382/year |
| USAA | $514/year | $1,217/year |
Do remember, these are approximations based on a 45-year-old man with a pristine driving record in Oregon. The actual rates can vary.
Insurance Costs by Age
Your age can play a pivotal role in determining your car insurance premium. Here’s a quick rundown:
- 16 years old: $3,608/year
- 25 years old: $940/year
- 45 years old: $807/year (This is where the state average comes from)
- 65 years old: $833/year
These rates consider a driver with minimum coverage and a clean slate in terms of their driving record.
How Can You Save on Car Insurance in Oregon?
1. Shop Around
Don’t settle for the first quote. Compare rates from at least three insurance companies.
2. Increase Your Deductible
A higher deductible means you’ll have a lower premium, but remember, it also means you’ll pay more out-of-pocket if an accident occurs.
3. Reassess Your Coverage
Only get the coverage you need. Think about if you can manage with just the state’s minimum requirements. You can read about Oregon’s auto insurance requirements here.
4. Find and Use Discounts
From good-driver discounts to paying your premium in full, there are plenty of opportunities to save. Check what your insurance provider offers.
Conclusion
Oregon’s car insurance landscape might seem complex, but with the right knowledge, finding the best deal becomes easier. Always remember to assess your needs, shop around, and stay updated. For more detailed insights, check out our guide on car insurance requirements in Oregon and our top picks for the state’s most affordable insurance companies.
