Oregon Car Insurance: Requirements, Rates, and Best Companies

Oregon-Car-Insurance-Requirements-Rates-and-Best-Car-Insurance-Companies

Driving without liability coverage is illegal in Oregon. The government of Oregon demands that citizens give their insurance number every time they register a vehicle or buy a light vehicle trip permit. Therefore, all drivers in this state must have Oregon car insurance.

Moreover, the government has set minimum car insurance coverage. On the other hand, many insurance companies offer higher car insurance rates than the minimum insurance policy set by the state. Thankfully, drivers still have few options for affordable car insurance.

Oregon Insurance Requirements for Drivers

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Oregon state requires drivers to have at least three minimum automobile insurance coverages. Below are the minimum car insurance coverages drivers can have.

  • Property Damage Liability: $20,000 per crash for damaged properties of others
  • Bodily Injury: $50,000 per accident for bodily injury of others and $25,000 per person
  • Uninsured Motorist Coverage Bodily Injury: $50,000 per accident for bodily injury and $25,000 per person.
  • Personal Injury Protection: $15,000 per person

Car Insurance Cost

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How much is car insurance cost in Oregon? Similar to the car insurance cost in other states, the monthly Oregon car insurance premium depends on many aspects, such as location, driver, and car.

The key takeaways of the car insurance cost in this state are as follows.

  • According to Bankrate, the average full coverage car insurance cost is $1,371/year or $114,25/ month.
  • On average, the monthly car insurance cost in Oregon is between $30 and $71 higher than the state minimum requirement.
  • Based on the Bankrate data, the city in Oregon with the highest car insurance rate is Portland.

Best Car Insurance Companies and Their Rates

Car insurance companies are numerous in Oregon. Below are the top car insurance companies in this state.

1. State Farm: Best Affordable Oregon Car Insurance

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Oregon citizens who look for affordable car insurance can apply for it at State Farm. This company is one of the largest insurance companies in Oregon and is highly popular among Oregon drivers.

State Farm gets a Bankrate score of 4.7 and a J.D. Power score of 839. It is lower than the Geico score because State Farm doesn’t offer the best digital experience. However, its car insurance is extremely affordable.

The average full coverage premium of State Farm is $953/year or $79.5/month. Meanwhile, its average minimum coverage premium is $440/year.

2. Geico: Best Car Insurance for Bad Credits

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The car insurance rates of Geico are higher than the average Oregon car insurance cost in Oregon. However, this well-established insurance company offers an excellent and easy-to-use mobile app. Geico also offers many discounts.

In addition, Oregon drivers with bad credit will get lower car insurance rates in Geico than in other Oregon car insurance companies. The average annual premium is $1,201 for full coverage and $474 for minimum coverage.

3. Allstate: Excellent Car Insurance Service

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Allstate is a trusted insurance company that offers excellent services and easy claims. Car insurance from Allstate is best for reckless drivers who have new cars or want to get the best car insurance service.

This company offers new car replacements for the insured party. However, this benefit is only eligible if the vehicle models are at least a year older and the insured driver is the first owner of the vehicle.

Drivers who want to get this benefit must be willing to spend at least $1,457 per year.

4. American Family: Great for Young Drivers

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American Family is one of the best Oregon car insurance companies. It offers great car insurance products with great benefits. Some benefits this company offers are rental car reimbursement, accident forgiveness, and roadside assistance.

Car insurance from American Family is best for young drivers and poor drivers. However, its car insurance rates are almost as expensive as that of Allstate. The American Family car insurance rate is about $1,411 per year.

5. Nationwide: Affordable Car Insurance

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Another top car insurance company in Oregon is Nationwide. This company has excellent financial stability. It is also capable of providing excellent customer service and easy claims.

One of the best benefits offered by Nationwide is Theft Expense Reimbursement. The amount of this reimbursement coverage is up to $25,000 at no cost. Moreover, its annual full coverage insurance is around $1,167.

6. Progressive: Car Insurance for Modified Cars

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Progressive is another well-established Oregon insurance company. This company is well-known for its financial stability and easy claims.

Progressive also offers competitive car insurance rates. Its full coverage car insurance cost is around $1,002 per year.

Progressive car insurance is perfect for drivers with modified cars because it offers custom parts coverage. Therefore, drivers will get financial reimbursement if their accessories, such as custom wheels, stereo, and paint job, are damaged.

7. USAA: Best Car Insurance for Military Members and Their Families

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USAA gets high ratings from Bankrate and J.D. Power. However, car insurance from USAA is only available for military members and their families.

This insurance company offers full coverage car insurance at competitive rates. Its full coverage car insurance premium is about $1,062/year.

Oregon Car Insurance Discounts

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Affordable car insurance generally has less coverage or benefits. However, Oregon drivers can get more affordable car insurance with full coverage and excellent benefits if they look for discounts. Oregon car insurance discounts are generally applicable in particular conditions.

Below are insurance discounts that drivers can get.

1. Safe Driver Discount

Drivers may be eligible for a safe driver discount if they do not have many claims. This discount is also available for drivers who join a telematic program. It tracks the drivers’ safe driving habits in real time.

2. Young Driver Discount

Young drivers may get a car insurance discount if they have good grades in school. Moreover, some insurance companies offer a distant student discount for college students who are away from their hometown.

3. Billing Discount

Some car insurance companies offer a billing discount. It enables drivers to get a discount if they pay the insurance bill in a particular method based on the company’s terms and conditions.

4. Multi-Policy Discount

Most drivers can get a multi-policy discount if they purchase an insurance bundle, for example, car insurance and home insurance or car insurance and life insurance.

Oregon car insurance is mandatory for all Oregon drivers. The state government demands that drivers have at least three car insurance coverage at particular minimum amounts. Drivers can get car insurance from various insurance companies in Oregon.

Some top Oregon insurance companies are State Farm, Geico, and Nationwide. Drivers who need lower car insurance rates can try to get insurance discounts from these companies.