The best, cheapest car insurance in Oregon

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Best car insurance company in Oregon

Drivers in Oregon pay an average of $1,678 a year, or $140 per month, which is the 36^th highest in the country, according to our research.

Actual car insurance rates vary by company, and State Farm, GEICO, and others continue to offer some of the most competitive premiums in Oregon.

When it comes to the best cheap car insurance in Oregon, State Farm is our No. 1 choice followed by GEICO and Travelers.

State Farm scores well with third-party rating organizations and it has an average premium in Oregon of $1,502 a year, or $125 a month, which is roughly $176 less than the Oregon average.

The best car insurance companies in Oregon

How we picked the top auto insurance companies

When choosing the top car insurance companies in the state, we not only looked at the average cost of coverage but also J.D. Power customer satisfaction scores, AM Best financial strength ratings and National Association of Insurance Commissioners (NAIC) complaint rankings. National averages were used where state and regional data was not available.

For each of the four metrics, we gave companies in each state from 1 to 5 (5 being the best) based on how they performed in each category. Those components were then given the following weights, to arrive at an overall star rating.

• Premiums: 25%
• JD Power: 30%
• AM Best: 25%
• NAIC: 20%

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Cheapest car insurance in Oregon

Travelers is the cheapest option for car insurance in Oregon.

Insurers consider a wide variety of factors when setting a premium including your driving record, credit score, age and marital status as well the vehicle. Where you live also affects rates.

“States that have a higher rate of severe weather that damages cars or helps cause accidents will typically have higher rates,” says Chong Gao, director of product management R&D at Mercury Insurance. “Florida, for example, is prone to extreme weather like hurricanes and its car insurance costs are consequently much higher.”

Insurance companies crunch all this data with proprietary algorithms, which can result in dramatic differences in premium quotes.

The numbers highlight these differences. Allstate is the most expensive insurer in Oregon with an average premium of $2,945 a year.

On the other hand, as mentioned above, the average premium for Travelers policyholders in Oregon is $1,318 a year. Nationwide had the second cheapest coverage in Oregon at $1,411 and State Farm rounded out the top three cheapest at $1,502.

Below is a list of the cheapest full-coverage car insurance rates in Oregon for a 40-year-old driver of a 2023 Honda Accord LX.

Cheapest full-coverage insurance in Oregon

Full coverage car insurance in Oregon

As noted, the rates above are for full coverage car insurance. Residents of Oregon will often be advised to get full coverage, which includes both liability protection as well as collision and comprehensive. Liability helps pay medical and legal bills for injuries or damages you are responsible for after an accident. However, liability doesn’t cover damage to your vehicle or your injuries.

Collision will pay to repair your vehicle if it is damaged after colliding with another vehicle or object. Comprehensive covers perils such as fire, theft, flooding, vandalism and more.

You can find out more about liability, collision, and comprehensive coverage here.

Shopping for car insurance in Oregon

Shopping around for coverage is a great way to make sure you are getting the best rates on your auto insurance. Experts often tell consumers to shop for insurance yearly. But that doesn’t necessarily mean you should be looking to switch.

“I recommend that people stay with the same insurance company, as they tend to get a better rate when they have been with the same carrier for more than 12 months. The more tenure you have with a carrier, the more potential there is to earn benefits,” says Tim Bottini, a Country Financial insurance agent based in St. Louis. “The carrier can also review your claims history and provide information about applicable discounts.”

But make sure you are comparing like coverage levels and deductibles.

“It is extremely important to make sure you start off with an apples-to-apples comparison,” Bottini says. “However, if a person has low limits, say 25/50/25 – limit per person/per occurrence/limit for property damage – I am going to recommend and quote at least 50/100/100. Depending on their age, income and profession, I would quote higher limits to protect their net worth and earnings potential.”

Bottini also says people can save money on their car insurance by keeping their credit score up, following the speed limit and placing both home and auto insurance with the same carrier.

Cheapest car insurance in Oregon by age

Car insurance rates will vary by age as reams of statistics show that teen and young adult drivers, because they are inexperienced on the road, take bigger risks and are more likely to get in anaccident and file a claim, which is why they pay more for coverage than older more experienced drivers.

Travelers turned out to be the best insurer in Oregon for drivers of all ages. The numbers show the difference between young and old drivers with the lowest premium for a teen coming in at 91% more than the lowest premium for a senior driver.

Once a driver hits 25, rates will start to drop, assuming they keep their driving record clean, and will stay stable until their 70s when they will start climbing a bit.

Cheapest car insurance for senior drivers in Oregon

According to our data, senior drivers pay roughly 31% more than middle-aged drivers.

Seniors tend to pay slightly higher car insurance rates than younger drivers. In Oregon, the cheapest insurance company for senior drivers is Nationwide at $1,304 a year or $109 a month. Travelers grabbed the second-place spot with premiums running $1,350 annually or $113 a month, GEICO was third at $1,373.

Seniors pay higher rates thanks to age-related issues. They often suffer from vision and hearing issues as well as slowing reflexes and medical issues. This all leads to more accidents and claims, which pushes up the cost to insure seniors.

The chart below shows the average premium for senior drivers.

Average rates for seniors in Oregon

Car insurance for young drivers in Oregon

While rates start to drop for teen drivers as they become young adults, they still pay slightly higher rates than more experienced drivers. According to our data, Country Financial is the cheapest insurer for drivers in their early 20s with an average premium of $1,886 a year or $157 per month.

Travelers was the second cheapest insurer at $2,115 and State Farm will insure a young driver in Oregon for $2,412 a year.

Rates will continue to drop (assuming a clean driving record) as drivers hit their late 20s and move into their 30s.

The chart below shows the average premiums for young drivers.

Average rates for young drivers in Oregon

Car insurance for teen drivers in Oregon

Although teen drivers always pay much higher premiums than other driver groups, Country Financial offers teens the cheapest rate at $2,844. Teen drivers are inexperienced and are big risk takers which results in more accidents and claims, pushing up the cost of coverage.

“Teenagers are more likely to be involved in accidents than older drivers because of their lack of experience. This increased risk results in higher insurance rates because insurance companies regard them as high-risk drivers,” says Goronga. “Teenagers are also more likely to engage in risky driving behaviors, such as distracted driving or speeding, increasing their chances of being involved in an accident.”

State Farm has the second most affordable premium at $4,227 a year followed by Travelers at $4,343 annually.

Our data clearly shows how dramatic premium differences can be for teens and how important shopping your coverage is when trying to find the best rate for your specific risk factors. While Country Financial was the most affordable at $2,844, Allstate was the most expensive with an annual premium of $10,279.

There are a few ways to save some money when insuring a teen. Ask your insurer for a good student discount if they are carrying a B average or better. Putting your teen in an older vehicle that you wouldn’t repair after an accident can help save some money by dropping collision and comprehensive. Just keep in mind that doing so means you’ll be on the hook for any damage if they’re in a crash.

The chart below shows average premiums for teens in Oregon:

Average rates for teens in Oregon

Average cost of car insurance in Oregon

In Oregon, the average premium is $1,678, which makes Oregon the 36^th most expensive state for coverage.

All states have large metropolitan areas, which will always push up the cost of insurance as more vehicles on the road lead to more accidents and claims. A high crime rate will also impact rates.

“If a state has a higher rate of car insurance claims associated with vandalism or car theft, prices are usually higher because car insurance companies view insuring these cars as a higher risk for them,” says Chong Gao, director of product management R&D at Mercury Insurance.

The chart below is the average rate in each state for a 40-year-old driver of a 2023 Honda Accord LX.

Average rates for a 40-year-old in Idaho

Which Oregon ZIP codes are most expensive for car insurance?

Where your vehicle spends its days and nights will impact your rate. Frequent severe weather or a high crime rate will raise the cost of insurance for everyone in the area.

Our data shows that Gresham is the most expensive area for coverage with an average premium of $2,077 a year.

Here are the most expensive ZIP codes in Oregon for car insurance:

Most expensive ZIP codes in Oregon

Which Oregon ZIP codes are the cheapest for car insurance?

The cheapest ZIP codes for car insurance in Oregon tend to be in rural areas where there are fewer people and cars which leads to lower accident and claim rates. Albany has the most affordable ZIP code in Oregon with an annual premium of $1,468.

Least expensive ZIP codes in Oregon

Cheapest car insurance for high-risk drivers in Oregon

If you have an at-fault accident, DUI or speeding ticket on your driving record, your insurer may consider you a high-risk driver and will push up the cost of your coverage.

A speeding ticket increases the average premium to $2,084 and will stay on your record and impact your premium for three years.

If you are responsible for an accident, your rates will push the average cost of coverage to $2,491.

A DUI is considered a major violation and will raise the average premium to $2,745.

The table below shows the average increase for drivers with an incident on their record:

How much rates increase in Oregon after a traffic incident

Minimum car insurance requirements in Oregon

Most states require all drivers to carry a minimum amount of liability coverage to drive legally. Oregon requires drivers to carry 25/50/20 in liability coverage, which translates into:

• $25k for bodily injury and $50,000 for death for a person involved in an accident
• $50k for bodily injury and $100,000 for death for two or more people in an accident
• $20k for property damage for a single accident

These required minimums are fairly average when compared to other states. However, these minimums are rarely enough coverage if you are involved in a serious accident. Once your coverage levels are exceeded, you will be on the hook for any remaining damage.

Experts typically recommend carrying 100/300/50 as a minimum liability coverage level.

What our expert says

Q: How does a state’s population affect car insurance rates?

Chong GaoDirector of product management R&D at Mercury Insurance.

“States with a higher population density have more cars on the road and thus more accidents and claims, increasing insurance rates. A more rural state like Iowa will have significantly lower average yearly car insurance costs compared to a highly metropolitan state like Oregon.”

Explore other insurance options in Oregon

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Best renters insurance in Oregon

Average homeowners insurance cost in Oregon

Mark Vallet

Contributing Researcher

 

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Mark Vallet is a Denver-based insurance expert and journalist with 18 years of experience covering the car insurance industry. He specializes in breaking down complex insurance topics into clear, expert-backed insights that help drivers make smarter insurance coverage decisions.