Best Portland, OR Auto Insurance in 2024
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Travis Thompson
Licensed Insurance Agent
Travis Thompson has been a licensed insurance agent for nearly five years. After obtaining his life and health insurance licenses, he began working for Symmetry Financial Group as a State Licensed Field Underwriter. In this position, he learned the coverage options and limits surrounding mortgage protection. He advised clients on the coverage needed to protect them in the event of a death, critica...
Licensed Insurance Agent
UPDATED: Nov 12, 2024
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Portland, nicknamed the “City of Roses”, obtained its proper name by the chance result of a coin flip. Thanks to careful planning and controlled growth, Portland sports an aesthetic appeal with very low levels of pollution, traffic congestion, and litter. It is also home to a deep-water port and the Portland International Airport.
- Fun fact: whoa! Did you know that Portland is #30 on the list of “Top 100 biggest cities”? Intrigued by finding out more about Portland? Click here!
Auto Insurance Coverage Requirements in Oregon
Driving legally in Portland requires:
| Coverage | Requirements | Most Common |
| Bodily Injury Liability | 25,000/50,000 | 100,000/300,000 |
| Property Damage Liability | 20,000 | 50,000 |
| Uninsured Motorist Bodily Injury | 25,000/50,000 | 100,000/300,000 |
| Personal Injury Protection | 15,000 | 15,000 with 0 deductible |
| Collision | Not required | 500 deductible |
| Comprehensive | Not required | 100 deductible |
Oregon has slightly higher legal minimums than most states for their liability coverage. Also, unlike other states, there is an Uninsured Motorist coverage requirement. This might make your insurance policy more expensive for some drivers, but the extra protection could be worth it in the long run.
Oregon drivers pay some pretty high insurance rates. On average, motorists pay around $111 per month to remain insured. However, Portland drivers can get a really good deal – automotive insurance as low as $56/mo*! Brush up on your Oregon auto insurance knowledge here.
Cal Casualty and Grange are offering some competitively-priced auto policies in Boston right now. But if you decide to switch, make sure you’re getting more than just a low price. Customer service and claims filing are important, too.
Auto insurance carriers contemplate numerous variables when determining insurance rates, which includes marital status, driving violations, occupation, years of driving experience, and business use of the vehicle. Also keep in mind that premiums might vary from business to business. To find out if you are still receiving the cheapest fee, do a comparison of cheap Portland auto insurance costs online.
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Major Car Insurance Factors in Portland
There are several ways your car insurance rate can be estimated. But not all of it is out of your control; there are steps you can take in order to influence which discounts you are entitled to obtain. Listed below are some of these factors in greater detail:
Your Zip Code
Your auto insurance rates can vary according to where you live. In general, highly populated cities possess higher car insurance rates as the additional number of car owners on the streets raises the likelihood of a car accident! There are 609,456 people in Portland and also the average family income is $55,571.
Automotive Accidents
Looking at the chart, it’s easy to see that the accident rate in Portland is pretty high. Then again, however, there are more than half a million people living in the city. If you’re worried that high accident rates in your area may be raising your monthly rate, talk to your insurance agent about Safe Driver discounts.
Auto Thefts in Portland
Obtaining inexpensive auto insurance can be difficult if you are vulnerable to auto theft. Certain trendy automobile models are alluring to thieves, as well as motor vehicles which are left often in large urban centers. The total amount of thieved vehicles in 2013 amounted to 3,289 for the city of Portland. If you worry about theft in your area, then you’ll want to protect yourself with some Comprehensive coverage.
Your Credit Score
In most states, having a poor credit score will cost you when it comes to your insurance premiums. In the chart below, you can see that some companies will more than double your monthly bill. Whatever you can do to improve your credit will also save you money on car insurance.
Your Age
It may seem unfair, but younger drivers have to pay outrageously higher rates than older motorists. Statistics show that younger drivers run higher risks of getting into accidents, which explains the rate hike. However, there are Good Student and Driver’s Education discounts which can help alleviate the burden.
Your Driving Record
Serious violations, such as a DUI or a Reckless Driving charge can increase your monthly premiums – or get your coverage dropped altogether. Minor violations will raise your rate too, but some providers might waive at least one with an Accident Forgiveness discount.
Your Vehicle
Driving an expensive car? Then you’re probably going to need expensive insurance. You’ll need to purchase more coverage to protect your vehicle properly, and you’ll also need higher amounts of coverage, too.
Minor Car Insurance Factors in Portland
Together, if you don’t manage all of these factors correctly, they might alter your premiums more than you want:
Your Marital Status
Married couples can benefit the most when it comes to bundling discounts. You can bundle your auto policy with that of your spouse, and you can also bundle other types of insurance policies to take even further advantage of this practice.
Your Gender
Are the old rumors true? Is one gender really better at driving than the other? According to most insurance companies, no. Many providers offer the same rate to either gender. Those that still charge different rates vary no more than 1-2%.
Your Driving Distance to Work
For such a big city, it only takes around 18-31 minutes to get around in Portland on average, while slightly less common commute times can last as long as 25 minutes. Close to 69% of commuters will travel in their own vehicle alone, while an additional 12% will either take the bus or carpool.
You might think that you can cut your monthly premiums by driving less, but you’d have to make a pretty drastic reduction to even get a 3-4% discount. Additionally, business vehicles cost over 10% more to insure than personal use automobiles.
Your Coverage and Deductibles
Certain forms of coverage will cost you a deductible before your insurance company will pay out on a claim. The higher you set that deductible, the lower your monthly rate will be. Just remember to save up a little emergency money in case you do have to file a claim.
Education in Portland, OR
The line between high school and college graduates in Portland is only separated by a 1% margin (22% and 21%, respectively). But that 1% can mean a huge amount of savings if you are a college graduate! Auto insurance carriers often provide lower rates to those who have successfully obtained an advanced degree.
Portland is home to many public and private universities alike. The Oregon Health & Science University and Portland State University are two major public institutions offering bachelor’s degrees and higher in a variety of career fields. Additionally, Reed College and the University of Portland offer a private option for potential students. For an advanced degree in a shorter amount of time, many students flock to Portland Community College.
Locating inexpensive car insurance can easily be a problem. There’s lots of important information to consider, and determining precisely how insurance companies examine your possible risk may well be complicated. But try not to let the wrong insurance provider to convince you to sign up for a expensive policy.
How We Conducted Our Car Insurance Analysis
*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.
Sources:
Oregon Division of Finance and Corporate Securities
Department of Highway Safety and Motor Vehicles
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