Cheapest car insurance in Oregon for 2023

The cheapest car insurance companies in Oregon

Finding the best cheap car insurance in Oregon will depend on your situation, and it's a good idea to collect multiple quotes from insurers before deciding on how you can best save on car insurance. Insurance costs are based on multiple factors, so you will need to do some research to find out which one offers you the cheapest rate. Some of the cheapest car insurance in Oregon can be found at these companies:

Cheapest company for minimum coverage

Cheapest company for full coverage

Cheapest company for adding a teen driver

Cheapest company for getting a speeding ticket

Cheapest company for being in an at-fault accident

Cheapest company after a high-risk incident

The cheapest car insurance companies in Oregon by coverage level

The state-required minimum coverage in Oregon includes liability insurance plus personal injury protection and uninsured motorist coverage. If you purchase the minimum amount required by law, you will pay an average cost of $616 a year. Full coverage includes the minimums plus optional collision and comprehensive coverage types. This provides more robust coverage for your vehicle, but at a higher average cost of $1,415 a year.

The cheapest cities in Oregon for car insurance

Your ZIP code is one of the factors that will play a role in determining your premium in Oregon. Generally, policyholders in larger cities, where there is more chance of fender benders and other accidents on congested roadways, will pay more than those in rural areas. If you live in a neighborhood that sees frequent car theft, you may also pay more. Here are sample rates for cheap insurance in Oregon from some of the state's cities:

Getting a speeding ticket

Getting into an at-fault accident

Being deemed a high-risk driver

Minimum coverage requirements for Oregon drivers

Like most states, Oregon requires drivers to carry a certain minimum amount of coverage in order to drive legally. Oregon’s minimum coverage cost $616 per year on average, though your rate may differ. According to Oregon law, you must have the following: 

• $25,000 bodily injury liability per person
• $50,000 per accident bodily injury liability
• $20,000 per accident property damage liability
• $15,000 personal injury protection (PIP)
• Uninsured motorist coverage of $25,000 per person and $50,000 per accident bodily injury liability

When looking for cheap car insurance in Oregon, you may assume minimum coverage is sufficient. However, only carrying the minimums could leave you financially vulnerable in costly accidents. Many insurance experts recommend that you purchase higher limits up to what you can afford. Remember that if the costs of an accident are higher than your coverage limits, you would be required to pay out-of-pocket for those costs.

You may also want to consider adding collision and comprehensive coverage to protect your investment in your vehicle. If you have a car loan or lease, your lender may require you to have these optional coverage types, which constitute full coverage.

How to get the cheapest car insurance in Oregon

If you need to know how to save on car insurance in Oregon, there are several strategies that can help. Consider the following when looking for Oregon car insurance savings:

Shop around

You might think that multiple insurers will give you the same rate for the same levels of coverage, but this isn't true. Each company has its own method of determining rates, so asking for quotes from a range of carriers may enable you to find a cheaper rate than you would if you just work with a single company.

Consider discounts

Almost every insurance company offers at least a handful of discounts, and many of them are easy to qualify for. When obtaining quotes, either online or through an agent, make sure that all potential discounts are being taken into consideration so you're sure of getting the lowest quote possible.

Raise your deductible

While taking on more financial risk as the tradeoff, raising your deductible for your collision and comprehensive coverage may be a useful savings technique. This will immediately lower your rate, but you want to ensure you don’t raise it so high that you would struggle to pay it following an accident. A good strategy is to set aside the amount of your deductible in a savings account so that you will have it if you need it.

Car insurance discounts in Oregon

Discounts can play a major role in determining your premium, and they are common with Oregon insurance companies. You can generally find a list of each company's available discounts on their website, but here are a few of the more common ones:

• Young driver discounts: High school and college students can often earn a discount if they maintain a "B" average or higher. They may also save money if they are attending a school more than 100 miles away from where their car is garaged.
• Safe driver discounts: Many insurers use optional telematics programs to monitor their policyholders' driving skills in real time through the use of a smartphone app. If you prove to be a safe driver, you could save considerably on your premium. 
• Other discounts: Some insurers offer discounts to members of certain professions, such as teachers and first responders. Military discounts are also common. There may be discounts as well for auto safety features such as air bags and antilock brakes, or security systems.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. 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 coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually. 

These are sample rates and should only be used for comparative purposes.

Bankrate Scores 

Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.