Average car insurance cost in Portland, OR

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The average car insurance cost in Portland, Oregon is $2,033 per year, according to Insure.com data. This is $355 more than the average auto insurance cost in Oregon and $138 more than the national average, as analyzed by Insure.com.

The rates can vary wildly depending on where they are filed. City demographics, including population density and average resident age, will affect how much money you spend on premiums which could make it cheaper or more expensive than other areas with different factors like accident rates, theft and vandalism rates, etc.

The article covers information on – the cheapest car insurance providers in Portland, the average car insurance rates by age, gender and how much is car insurance in Portland based on coverage limits. Whether you’re a new driver or have been driving for years, this article can help you find the best deal on cheap car insurance in Portland. Read on to learn more.

Cheap car insurance companies in Portland

Oregon Mutual Insurance offers the most affordable car insurance in Portland for coverage limits of 100/300/100 at $1,458 per year.

The Travelers comes close second offering car insurance at $1,619 per year.

As mentioned previously, car insurance quotes differ amongst companies due to the factors they consider when determining rates. Hence, it’s advisable to obtain quotes from multiple insurers to find affordable car insurance rates in Portland that align with your needs before finalizing your insurance carrier.

Here are the average annual and monthly costs for the various car insurance companies providing coverage in Portland, Oregon:

Read about the best car insurance companies.

Average car insurance cost in Portland by coverage limits

In Portland, the average car insurance rates the coverage levels are as follows:

• State minimum coverage: $862 per year (limits are 25/50/25)
• Liability only coverage: $973 per year (limits are 50/100/50)
• Full coverage: $2,033 per year (limits are 100/300/100)
• Non-owners coverage: $459 per year

In most states, drivers are required to have state minimum coverage to drive legally, although these requirements vary by state. However, it’s important to note that state minimum coverage does not provide coverage for any vehicles listed on your policy in the event of an at-fault accident.

To prevent compromising on coverage and out-of-pocket expenses, it’s advisable to opt for full coverage or non-owner coverage if you frequently borrow or rent a car but do not own one.

Average car insurance rates by gender in Portland

Based on an analysis by Insure.com, female drivers in Portland, Oregon pay an average annual car insurance premium of $2,085. In comparison, male drivers pay $1,980 annually, which is $105 less than what female drivers pay.

According to the Insurance Information Institute, statistics indicate that women are generally considered safer drivers than men. Also, women pay less for car insurance due to the lower rate of severe accidents.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Portland

In Portland, teenagers have the highest car insurance rates, at $6,435 per year or $536 per month. This higher rate is attributed to the increased risk of road accidents among teenagers (aged 16 to 19) due to their limited experience on the road, according to the Insurance Information Institute.

However, there are driving laws for teens to improve their driving habits. Additionally, the cost of teen insurance can be reduced by adding them to a parent’s auto insurance policy. As teens mature and establish a positive driving history, their car insurance rates are likely to decrease.

Young adults, pay an average of $3,168 annually for car insurance, which is $3,267 less than what the teens pay for their insurance policy.

Meanwhile, adult, and senior drivers in Portland have car insurance rates of $2,023 and $2,100 per year, respectively. The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below shows the average annual rates for drivers of different age groups:

Car insurance rate trends in Portland

Examining car insurance rate trends in Portland, Oregon, we observe a upward trend from 2022 to 2023. Subsequently, from 2022 to 2023, the rates experienced increase overall, with an increase of 29% or $456.

The table below shows the trend for last four years:

Conclusion

In conclusion, Portland’s car insurance rates are higher than the average insurance rates in Oregon. Drivers in Portland can find affordable car insurance options by shopping around and taking advantage of available discounts. Moreover, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.