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 a month for car insurance coverage which makes it the 36^th most expensive state in the country.

Even though car insurance is pretty expensive in Oregon, it’s possible to find affordable coverage with top insurers such as Travelers, Nationwide, State Farm, and other insurers.

State Farm is our choice for the best car insurance in Oregon. It finished first in our rankings with 4.57 out of 5 stars and an average premium of $1,502 a year, or $125 a month, which is $176 less than the state average.

GEICO was second with a score of 4.33 stars followed by Travelers with 4.15 stars.

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

Auto insurance premiums vary significantly from city to city, so drivers need to be sure they’re getting the best deal. Insure.com has done the research for you. Get more information on auto insurance rates by city below.

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Full coverage car insurance in Oregon

As noted, the rates above are for full coverage car insurance. Full coverage car insurance simply means you are carrying liability and any other state requirements as well as collision and comprehensive.

Full coverage insurance includes collision and comprehensive, which protects your own vehicle. Collision insurance will pay to repair your vehicle when it is damaged after colliding with another vehicle or object. Comprehensive covers damage that is done by perils such as fire, theft, flooding, vandalism, and more.

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

Insurance companies consider your age when setting a premium and teens and young adults pay more for coverage as statistics show that young drivers, because they are inexperienced, have more accidents and claims.

Regardless of your age, in Oregon, Travelers is the most affordable coverage with an average rate of $1,318 a year.

As teens transition into young adults and get more experience under their belt rates start to drop. By their mid to late-20s – assuming they keep their record clean – driver rates should stabilize and then stay stable until the driver moves into their 70s when rates will start climbing again.

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

Insuring a teen is always expensive; statistics show that inexperienced teen drivers get into more accidents and file more claims than more experienced drivers. In Oregon, the best insurer for teen drivers is Country Financial with an annual premium of $2,844 or $237 a month. State Farm was second most affordable at $4,227 a year or $352 monthly while Travelers was number three at $4,343.

While teens are expensive to insure, there are a few ways to save some money. Most insurers offer a good student discount so if your teen is carrying a B average or above you should ask for a discount. Putting them in an older vehicle will also lower your insurance costs.

The chart below shows average premiums for teens.

Average rates for teens in Oregon

Average cost of car insurance in Oregon

Oregon is the 36^th most expensive state (Louisiana is number one) when it comes to car insurance with an average premium of $1,678.

The table below shows 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 Oregon

Which Oregon ZIP codes are the most expensive for car insurance?

Insurers consider the ZIP code where your car is parked when setting a premium. High crime rates or frequent severe weather will result in a higher premium.

According to our analysis, the following ZIP codes are the most expensive in Oregon for car insurance. Gresham tops the charts at $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?

Rural areas are almost always cheaper than urban areas when it comes to car insurance. Fewer people and cars on the road mean fewer accidents and claims. The cheapest zip code for car insurance in Oregon is in Albany 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 drivers to carry a minimum amount of liability car insurance, and Oregon is no exception. Drivers are required to carry 25/50/20 in liability coverage, which translates into:

• $25k for injury/death per person
• $50k for injury/death per accident
• $20k for damage to property

But state-required minimums are rarely enough coverage in a serious accident. If you cause an accident and the damages exceed your coverage levels, you will need to cover the damages out of pocket.

The most common required coverages are $25,000 bodily injury liability per person, $50,000 bodily injury liability per accident and $25,000 property damage.

Experts typically recommend carrying 100/300/100 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.”

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.

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