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Cheapest car insurance in Oregon for 2022

Updated Nov 15, 2022
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When it comes to car insurance, drivers in Oregon have dozens of providers to choose from. However, some carriers have higher rates than others. The average cost of car insurance in Oregon is $1,371 per year for full coverage and $625 per year for minimum coverage, but it’s possible to find a lower rate. To help Oregon drivers get the most affordable rates for their personal situation, Bankrate did some research and leveraged data from Quadrant Information Services to find the cheapest car insurance companies in Oregon.

The cheapest car insurance companies in Oregon

To find the cheapest car insurance companies in Oregon, Bankrate utilized 2022 rate data from Quadrant Information Services and identified the cheapest carriers. When comparing rates, it is important to remember that your exact rates will vary based on more than a dozen individual rating factors, according to the Insurance Information Institute (Triple-I), including how much coverage you purchase, ZIP code, age, motor vehicle record, credit-based insurance score, claims history, vehicle type and annual mileage. Your exact rates could be more or less depending on how insurers weigh these rating factors, but Bankrate has compiled average premiums to help with comparison shopping.

The cheapest companies for minimum coverage in Oregon

Based on Quadrant data, the two cheapest car insurance companies in Oregon for minimum coverage are State Farm and Oregon Mutual. Although minimum coverage policies are typically the cheapest, they also provide the least amount of coverage. Minimum coverage car insurance policies only include personal liability insurance and do not offer physical damage coverage for your car.

The table below highlights the cheapest minimum coverage car insurance companies in Oregon based on our research.

Car insurance company Average annual minimum coverage premium Average monthly minimum coverage premium
State Farm $440 $37
Oregon Mutual $447 $37
Geico $474 $40
Travelers $474 $40
USAA $483 $40

The cheapest companies for full coverage in Oregon

In Oregon, the two cheapest companies for full coverage car insurance are Oregon Mutual and State Farm. Full coverage car insurance is optional, but it provides significantly more protection than a minimum coverage policy. Full coverage insurance includes comprehensive and collision coverage, as well as personal liability.

Here are the five cheapest full coverage insurance providers in Oregon, based on rate data from Quadrant Information Services:

Car insurance company Average annual full coverage premium Average monthly full coverage premium
Oregon Mutual $902 $75
State Farm $953 $79
USAA $1,062 $89
Travelers $1,100 $82
Capital $1,144 $95

Events that can impact your cheap rates in Oregon

Regular comparison shopping among various insurance providers is essential because there are a number of circumstances that could impact your rates by hundreds of dollars. For example, if you were involved in a recent at-fault accident or need to add another driver to your policy, you can expect a change in your premium. Keep the following events in mind and how it may impact the cost of your coverage:

  • Adding a teen driver: When adding a teen driver to your policy, you can expect premiums to increase due to additional risk inexperienced teen drivers pose. To ensure you are getting the most affordable rates when adding a teen driver to your policy, be sure to check what young driver discounts they’re eligible for to maximize your savings.
  • Receiving a speeding ticket conviction: Rates are typically negatively affected for three years after receiving a speeding ticket by having a surcharge added to your policy. It is normal for your rates to increase following this type of moving violation, so shopping around for a new carrier with greater discounts and coverage may be the best option.
  • Getting into an at-fault accident: Being involved in an at-fault accident will also impact your premiums. You can expect premiums to increase if you are charged as the at-fault driver, which may last up to five years with a surcharge added to your policy. However, there are some auto insurers that offer first-accident forgiveness programs to counteract the premium hike for safe drivers and do not assess a surcharge.
  • Being deemed a high-risk driver: If you are considered a high-risk driver, such as if you have a DUI conviction, multiple speeding tickets or at-fault accidents, you will often pay a much higher premium than the average driver in Oregon. Not only are your rates impacted, but coverage eligibility may also become more challenging as some auto insurers will not write coverage for high-risk drivers. In this case, shopping for a new carrier and policy may be the best option to find the cheapest rates possible.

Cheapest cities in Oregon for minimum coverage

Your ZIP code can significantly influence how much you pay for car insurance premiums. This is why when moving to a new location is an excellent time to shop your car insurance rates, since your new ZIP code could be more or less expensive if you want to maintain the most amount of coverage for the best cost.

In the table below, you can see which cities in Oregon have the cheapest average premiums for minimum coverage car insurance:

City Average annual minimum coverage premium Average monthly minimum coverage premium
Baker City $448 $37
Enterprise $451 $38
Halfway $451 $38
Joseph $452 $38

Cheapest cities in Oregon for full coverage

The table below illustrates the slight premium differences you may see, depending on your ZIP code, within Oregon. Cost of living, vehicle repair expenses, theft and vandalism rates and other risk factors all influence the cost of car insurance from one ZIP code to another.

The following table highlights the cheapest cities in Oregon for full coverage car insurance, based on average annual rates.

City Average annual full coverage premium Average monthly full coverage premium
Central Point $1,164 $97
Medford $1,169 $97
Corvallis $1,173 $98
Grants Pass $1,179 $98

Minimum coverage requirements for Oregon drivers

Oregon requires residents to carry a minimum amount of liability coverage, personal injury protection (PIP) and uninsured motorist coverage to legally drive and satisfy the state’s financial liability law. This includes:

  • $25,000 per person for bodily injury and property damage liability
  • $50,000 per accident for bodily injury and property damage liability
  • $20,000 per accident for damage to others’ property
  • $15,000 per person in personal injury protection (PIP)
  • $25,000 per person and $50,000 per accident for bodily injury in uninsured motorist coverage

In lieu of a minimum coverage policy, Oregon drivers also have the option to self-insure if they meet one of the following requirements:

  • Can prove your financial ability to pay damages after an accident
  • Have more than 25 cars registered in your name
  • Will agree to pay the same amount as an insurer for required coverage
  • Meet the qualifications to act as a self-insurer

If you choose to purchase a minimum coverage policy, keep in mind that it may not offer enough coverage to prevent you from paying a considerable amount out of pocket in the event of an at-fault accident. A full coverage policy will provide greater financial protection for you and your family, including optional comprehensive and collision coverage types, which provides payment when your vehicle is damaged in a covered accident, as well as non-collision losses such as theft, vandalism and storm damage. Most lenders require you to purchase full coverage if you lease or finance a vehicle to ensure all types of claims can be paid if necessary.

Here is how to find (and keep) cheap car insurance in Oregon

Not only is finding cheap car insurance in Oregon possible, but keeping it is too, especially if you practice safe driving habits. A couple other tips for finding and keeping cheap car insurance include:

  • Shop around and know your limits. The best way to find cheap car insurance companies and affordable rates is to compare quotes from several carriers. Premiums can vary widely from one insurance provider to another, even when the applicant information is similar. Also, be mindful of the coverage options you select, as this can significantly increase or decrease your premiums.
  • Take advantage of discounts. Most car insurance companies offer discounts that can help you get a lower rate. Every car insurance provider offers different discounts, but you can often find savings for being a good student, having a clean driving record, bundling your policies, paying your premium in full and completing a defensive driving course.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all 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 2020 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.

Written by
Sara Coleman
Insurance Contributor

Sara Coleman is an insurance contributor at Bankrate. She has a couple of years of experience in writing for insurance domains such as The Simple Dollar, Reviews.com, Coverage.com and numerous other personal finance sites. She writes about insurance products such as auto, homeowners, renters and disability.

Edited by Insurance Editor
Reviewed by Director of corporate communications, Insurance Information Institute