Best car insurance in Oregon for 2024

Most states, including Oregon, have minimum liability insurance requirements that you must meet in order to legally operate a vehicle on public roads. In Oregon, drivers are required to purchase bodily injury and property damage liability, personal injury protection and uninsured motorist coverage. The exact coverage amounts you need can be found on the Oregon Department of Transportation website.

If you lease or finance your vehicle, your lender may require you to purchase full coverage insurance rather than just the minimum liability insurance required by the state. Additionally, you may want to consider gap insurance. This common optional coverage type for new vehicles helps pay the difference between what you owe on the vehicle and its value if your car gets totaled or is stolen and unrecoverable.

Your unique life events often affect your auto insurance rate. For instance, will you have to add a teen driver to your car insurance? Average rates for teen drivers can be high, but some providers offer discounts for good students that could help decrease your teen’s auto insurance rate. Do you have a DUI conviction? You may want to look into insurers who offer options for high-risk drivers. Speaking with a licensed insurance agent may help you identify any special considerations you may want to take into account when choosing coverage.

There is not just one company that will offer the cheapest average auto insurance in Oregon to everyone. Insurance companies use many different rating factors to determine your premium, which means that everyone will be quoted unique rates. Some of these factors include your age, gender, credit-based insurance score, driving history and location, as well as your vehicle’s make and model.

Companies may weigh these factors differently to calculate your rate, so most insurance professionals recommend comparing quotes from different carriers to find the cheapest premium for your circumstances.

Yes, in general you will need car insurance in Oregon to comply with state laws. Driving on public roads in the state without insurance can be punishable with fines and other penalties. If a person does not wish to purchase an insurance policy, they may apply to the Oregon Department of Transportation for self-insurance and provide proof that they possess the ability to pay for any costs resulting from an accident they cause.

According to Oregon state law, there are several types of insurance you need to have. Liability insurance  pays for injuries or damage to the other car, its driver and passengers, and any damaged property. Personal injury protection (PIP) coverage is required in no-fault states such as Oregon and helps pay for medical expenses and lost wages for you and your passengers. You are also required to have uninsured/underinsured motorist insurance, which helps pay damages if the other driver does not have insurance or enough insurance to cover all costs resulting from an accident. If you have a car loan or lease, you may be required to purchase collision and comprehensive insurance, as well.

Every car insurance company has its own rating algorithm to determine how much to charge you for coverage. These formulas are developed by taking various driver metrics into consideration. These metrics may include a driver’s claim history, as well as the likelihood of claims in your area and the severity of those claims, among other factors. Because of this, each company will weigh your rating factors differently. One company might heavily surcharge you for a ticket while another only mildly increases your premium. This is why it may be helpful to get quotes from several companies.

Since insurance needs are highly personalized, there’s no single best car insurance company in the Beaver State. The best car insurance company for you might not be the best for your friend or family member since you have different insurance needs and priorities. To help you find the best provider for you, consider what you’re looking for from an insurance company. For instance, you might be most interested in the cheapest rates, while your neighbor is looking for the best claims handling or a great mobile app. Doing a little research to see which companies have the qualities you want most and then requesting quotes from those companies to compare is the best way to find the best insurer for your needs.

If it’s been a while since you purchased your policy, you may want to request quotes from several providers. Use the same coverage types and amounts to make it easier to compare policies. You can also see what discounts you’re eligible for; many providers allow you to combine discounts to maximize your savings. You might also consider adjusting your level of coverage. For instance, raising your deductible might make your premium more affordable. However, ensure that you can cover the higher out-of-pocket costs if necessary. If you’re not sure how much coverage you need, speak with a licensed insurance agent.