Oregon drivers should have a car insurance policy in place before hitting the road — not only to meet the state’s legal requirements, but also to protect their finances in the event of an accident. Car insurance in Oregon costs, on average, $1,346 per year for full coverage, according to Bankrate’s 2021 study of annual quoted premiums.
With over 3 million licensed drivers and over 4 million vehicles in Oregon, roads can get crowded. Having a car insurance policy in place is essential to protecting your finances after an accident. But how do you find the best car insurance in Oregon? Bankrate’s research can help.
Best car insurance companies in Oregon
When shopping for car insurance, Oregon drivers might find themselves wondering how to compare companies. Bankrate’s insurance editorial team conducted extensive research to make your car insurance journey easier.
We started by obtaining current premium information from Quadrant Information Services from the largest insurance companies in Oregon by market share. We combined this information with our research on each company’s coverages, discounts, policy features and third-party scores and assigned a Bankrate Score to each carrier. The closer the Score is to 5.0, the higher that company ranked in each of the rating categories.
It might be useful to get quotes from the following companies if you are looking for the best auto insurance in Oregon:
|Car insurance company||Bankrate Score||Average annual full coverage premium||J.D. Power customer satisfaction score|
|USAA*||4.8||$1,038||890 / 1,000|
|Geico||4.6||$1,355||871 / 1,000|
|Travelers||4.5||$1,017||861 / 1,000|
|State Farm||4.4||$1,093||881 / 1,000|
|Progressive||4.1||$1,265||856 / 1,000|
*USAA is not eligible for official ranking with J.D. Power due to eligibility restrictions
Year after year, USAA consistently receives high scores for delivering exceptional customer service. However, USAA is not eligible to rank in J.D. Power’s studies due to the fact that it only sells insurance to current military members, veterans and their immediate family members.. Although its average full coverage premium is far lower than Oregon’s average, USAA also offers plenty of discounts. You might save for being a good student, insuring a new car or garaging your vehicle on a military base.
Learn more: USAA Insurance review
Geico’s average premium is just slightly higher than Oregon’s average, but the company has one of the longest lists of discounts in the industry to help you offset the cost of your policy. You might save for being a federal employee, a safe driver or a member or certain organizations, like alumni groups. Geico also has a highly-rated and easy-to-use mobile app, so if you like to handle your insurance digitally, this company could be a good fit.
Learn more: Geico Insurance review
If budget is your primary concern when it comes to your Oregon car insurance, you might want to get a quote from Travelers; the company offers the lowest full coverage premium on our list. The policies are also highly customizable, with optional coverages including roadside assistance, accident forgiveness and ridesharing coverage available. The low average premium could be due to the company’s generous discounts, which include savings for hybrid and electric vehicles, safe drivers and homeowners — even if you do not insure your home with Travelers.
Learn more: Travelers Insurance review
As the largest car insurance provider in the U.S., State Farm is a popular car insurance choice for Oregon drivers. With its high financial strength and high J.D. Power ranking, State Farm is an established car insurance company with a household name. The company might be a good choice if you are looking for an in-person insurance experience; policies are sold through a network of local agents.. State Farm also stands out for its two safe driving programs: Drive Safe & Save for adults and Steer Clear for drivers under 25.
Learn more: State Farm Insurance review
Progressive’s impressive list of coverages and unique discounts earned it a spot on our list. Optional coverages include custom parts and equipment coverage, ridesharing coverage, loan/lease gap coverage and a deductible savings bank option. And you might save money just by getting your quote and buying your policy online, owning a home, going paperless or paying in full. The company’s Name Your Price tool could help you find coverage that fits your needs and budget; you input your car insurance budget and the tool shows you various coverage combinations that could work for you.
Learn more: Progressive Insurance review
Average cost of car insurance in Oregon
The average cost of car insurance in Oregon is $1,346 per year for full coverage. This is quite a bit less than the national average full coverage premium of $1,674 a year.
Car insurance in Oregon could be cheaper than the national average for a number of reasons. The likelihood of accidents in the state, the cost of parts and labor and the cost of healthcare all influence average rates.
|Average annual premium for minimum coverage in Oregon||Average annual premium for full coverage in Oregon|
Car insurance premiums are generated using a number of factors. The type of car you drive, your driving history, the coverages you choose and the discounts you qualify for will all affect how much you pay.
State minimum insurance requirements in Oregon
Most states in the U.S. require drivers to carry at least minimum levels of car insurance, and Oregon is no exception. Oregon’s minimum car insurance requirements require car owners to have a liability insurance policy that covers at least:
- $25,000 for bodily injury or death to one person.$50,000 for bodily injury or death of more than one person
- $20,000 to cover property damage to others
- $15,000 per person personal injury protection (PIP)
- $25,000 per person and $50,000 per accident uninsured motorist coverage
Most insurance experts recommend carrying more than the minimum required liability coverage. Minimum coverage might be the cheapest option but it could leave you with expensive out-of-pocket bills if you cause an accident. If the damage and injuries that you cause exceed your insurance limit, you are responsible for paying the rest of out pocket.
Minimum coverage also does not include comprehensive or collision, which provide coverage for damage to your vehicle. Adding these coverages constitutes “full coverage.” If you have a loan or lease on your vehicle, your financial institution likely requires you to carry full coverage.
How to get the best car insurance in Oregon
To get the best car insurance in Oregon, drivers should consider various factors. For example, all car insurance companies offer different discounts, coverage options, policy features and prices. Each car insurance company in Oregon evaluates you differently. Most insurance companies will take into consideration rate factors like your personal characteristics and your previous driving history. To find the best coverage for you, you might want to:
- Evaluate your needs: Understanding your personal metrics that will affect your car insurance decision can help you choose companies that could fit your situation. Are you looking for the cheapest policy possible? Do you have a teenager who is about to start driving? Do you have a few tickets on your record? Additionally, thinking about what you want from a company — like a mobile app, certain coverages or high customer service scores — is important. Once you know these things, it might be easier to find companies who fit your needs.
- Consider state factors: Thinking about more than just your state’s minimum coverage might be important. For example, the crime rate in your area or likelihood of damaging weather events could influence your decision to purchase comprehensive coverage. If you notice a high number of crashes in your area, buying collision coverage and increasing your liability coverage limits might be useful.
- Working with a licensed agent can be helpful when determining what coverages and how much coverage to purchase. An agent should be familiar with the needs of drivers in Oregon and can help you choose appropriate coverages.
Car insurance discounts in Oregon
Car insurance companies offer discounts to help you reduce your premium. Discounts vary by company, but some common discounts in Oregon include:
- Multi-policy discounts: These discounts are offered by most companies that sell more than one product line. The most common multi-policy discount is for bundling your auto and home, condo or renters insurance with the same company, and it can be one of the largest savings opportunities available. Some companies offer this discount for buying other product lines too, like life, business or umbrella insurance.
- Safe driver discount: If you have been able to avoid tickets, accidents and DUI convictions for a set number of years — usually three to five, although this will vary by company — you might qualify for a discount.
- Student discounts: Students in Oregon might qualify for a number of discounts. Good student discounts are given for full-time students who maintain a certain GPA or letter-grade average. Driving training discounts are for drivers who took an education course prior to getting their license. And distant student discounts apply if a student is away at school without a vehicle.
- Billing discounts: The way you pay your bill could save you money. Signing up for paperless statements, using automatic payment features or paying your premium in full might mean you get a discount.
Because every company is different, talking with a representative is often the best way to identify ways to save, although most companies list at least some of their discounts online. Just remember that the availability of discounts could vary by state.
Frequently asked questions
What is the best car insurance in Oregon?
There is no single car insurance company in Oregon that is the best for everyone. Your individual rating factors, plus what you want and need from a company, will all impact which carrier is the best for you. Getting quotes from several companies might help you find the best car insurance company for you.
What do I need to get car insurance in Oregon?
To get a quote for auto insurance, Oregon insurance agents need to know the name, date of birth and driver’s license number for all the drivers in your household and for anyone who regularly uses your vehicle. You will also need the vehicle identification number (VIN) for every vehicle you want to insure.
Why do car insurance companies have different rates?
Every car insurance company has its own rating algorithm to determine how much to charge you for coverage. These formulas are developed by taking a company’s previous claim payments into consideration, 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 can be so helpful to get quotes from several companies.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. 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 coverages that meet each state’s requirements.
Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Bankrate Scores primarily reflect a weighted rank of industry standard ratings for financial strength (AM Best, S&P, Moody’s) and customer experience (J.D. Power, NAIC), in addition to average quoted rates from Quadrant Information Services. The J.D. Power studies utilized include the 2020 Auto Insurance Study and the 2020 Auto Claims Study. Our Bankrate editorial team’s extensive research and analysis provided a secondary assessment of each insurer’s online and mobile resources and policy management options, which also contributed to overall ratings.