You have probably seen the ads from auto insurance companies like State Farm and Nationwide promising dirt cheap rates. So drivers should just choose one randomly, right?
Unfortunately, it’s not that simple as there are many unknowns such as your annual mileage driven, how old you are, and if you have ever let your coverage lapse. We are going to cover the best ways to avoid paying too much and should give you a good start in finding the cheapest car insurance.
Establishing which company has the cheapest car insurance rates for handicapped drivers involves a little more work than just getting one or two price quotes.
Each auto insurer has a unique approach for setting rates, so we’ll go over the overall cheapest car insurance companies in Oregon. It’s important to know that Portland car insurance rates are influenced by many factors which can substantially change the cost of coverage. Improving your credit rating, having a claim, or having a fender bender can trigger price changes resulting in some rates now being cheaper than before.
Best Car Insurance Prices in Oregon
Grange normally has some of the best car insurance rates in Portland at around $694 per year. Country, Oregon Mutual, Travelers, and USAA also make the cut as some of the most economical Portland, OR auto insurance companies.
As shown in the table above, if you are a policyholder with Oregon Mutual and switched to Grange, you could realize yearly savings of approximately $159. Insureds with Travelers could save as much as $220 a year, and USAA customers might reduce prices by as much as $285 a year.
If you want to find out if you’re overpaying, click here to get a free quote or visit any of the low-priced companies below.
Bear in mind that those premium estimates are averages across all ages of drivers and types of vehicles and and are not calculated with a specific location for handicapped drivers. So the company that has the cheapest rates for you may not even be in the top 22 companies in the list above. That underscores the importance of why you need to compare as many prices as possible using your own specific driver and vehicle information.
One of the more important criteria that determine the annual cost of car insurance is where you keep your vehicle. Cities with more crime and/or more people tend to have higher auto insurance costs, whereas areas that tend to be more rural have the enjoyment of a little cheaper coverage.
The table below shows the most costly cities in Oregon for handicapped drivers to buy car insurance in. Portland is ranked #2 with a yearly cost of $1,529 for the average policyholder, which is approximately $127 monthly.
|Rank||City||Premium Per Year|
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Premium amounts are approximated as specific location information can influence prices greatly.
The vehicle driven is probably the largest consideration that determines whether or not you can buy the best coverage for handicapped drivers. Vehicles with lots of speed or power, poor crash test ratings, or high incidents of liability claims will cost much more to insure than more economical and safe models.
The next table presents insurance prices for some of the most cost-effective vehicles to insure in Oregon.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$1,382|
|Honda Accord EX-L 4-Dr Sedan||$1,496|
|Jeep Wrangler Rubicon 4WD 2-Dr||$1,547|
|Honda CR-V EX 4WD||$1,619|
|Toyota RAV4 Limited 4WD||$1,632|
|Dodge Grand Caravan Crew||$1,664|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$1,672|
|Chevrolet Impala LTZ||$1,718|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$1,750|
|Chevrolet Malibu LTZ||$1,750|
|GMC Sierra Denali Crew Cab 4WD||$1,867|
|Toyota Camry Hybrid||$1,870|
|Ford F-150 XL Crew Cab 2WD||$1,899|
|Hyundai Elantra Blue 4-Dr Sedan||$1,936|
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Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oregon minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Rates do not factor in vehicle garaging location which can affect price quotes significantly.
Based on these rates, you can assume that cars like the Ford Escape, Honda Accord, Jeep Wrangler, and Honda CR-V will definitely be some of the most affordable vehicles to insure for drivers with handicaps.
Comparison of full coverage and liability-only policies
Reducing premiums for car insurance is the goal of the majority of drivers, and one great way to pay lower rates for insurance for handicapped drivers is to only buy liability insurance. The chart below visualizes the comparison of car insurance rates with and without physical damage coverage. The premium estimates are based on no accidents, no driving violations, $500 deductibles, drivers are single, and no discounts are factored in.
Averaged for all age groups, physical damage coverage costs an additional $2,011 per year over having just liability coverage. Lot’s of drivers question if buying full coverage is a good investment. There isn’t a written rule for dropping physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is more than about 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
For example, let’s pretend your vehicle’s replacement value is $9,500 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $8,500 after paying your deductible. If you are paying more than $850 a year for physical damage coverage, then you might want to consider buying only liability coverage.
There are some conditions where dropping physical damage coverage is not recommended. If you still owe a portion of the original loan, you have to carry full coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not drop full coverage.
The example below highlights how deductible selection can raise or lower insurance premiums when searching for cheap insurance for handicapped drivers. The premium estimates are based on a single female driver, full coverage, and no discounts are factored in.
The chart above illustrates that a 40-year-old driver could lower their car insurance rates by $342 a year by changing from a $100 deductible to a $500 deductible, or save $516 by choosing a $1,000 deductible. Younger drivers, like the 20-year-old, could drop their prices as much as $880 or even more by selecting a higher deductible. When using a larger deductible, it will now be necessary to have enough funds in savings to allow you to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Shop around and save
Portland car insurance rates are based on many factors that control the price you have to pay for coverage. Getting older, moving to a different location, or getting a speeding ticket can cause premium changes resulting in some rates now being much cheaper than others.
Also, insurers change premium rates every year in order to protect their financial rating. Higher than normal claim frequency or severity may result in rate increases, while profitable underwriting can result in more affordable Portland car insurance rates.
To help illustrate this point, the bar chart below compares the cheapest car insurance in Portland, OR for a 40-year-old female driver with no prior claims, no tickets, and a good credit rating. When quoting prices based on her current risk profile, Grange quotes the cheapest car insurance rates in Portland at $954 a year. This is $524 less than the average premium paid by Oregon drivers of $1,478. Country, Oregon Mutual, USAA, and Travelers are the remainder of the cheapest Portland, OR auto insurance companies.
Now let’s give the driver in the first chart a chargeable claim, bad credit, and a speeding ticket. Since each company uses their own formula to determine rates, getting updated rate quotes may now result in a completely different list of the cheapest companies as shown below.
Country now has the best car insurance rate in Portland, OR with GEICO, Allied, Amica, and Mutual Enumclaw now rounding out the top five. This example illustrates why it is critical to compare rates to find affordable auto insurance quotes for handicapped drivers.
Rates consist of many things and change dramatically, so the best company when you bought your policy may now be quite expensive.