What Auto Insurance is Cheapest for Drivers Over Age 50 in Portland?

The words “affordable” and “insurance” really shouldn’t be used in the same sentence, specifically when you are searching for the best price on coverage for drivers over age 50. Because of the high cost, let’s introduce you to a few of the factors that significantly impact car insurance premiums, and find out if we can help you take a little off the next policy you buy.

One of the many considerations that help determine the amount you pay each year for auto insurance is where you call home. Areas with more people or even just a higher incidence of claims tend to have more expensive car insurance rates, whereas less populated areas have the luxury of lower rates.

The next table sorts the highest-priced places in Oregon for drivers over age 50 in which to buy car insurance. Portland is ranked at #2 with an annual cost of $1,544 for the average insured, which is around $129 monthly.

How much is car insurance in Portland?
Rank City Annual Premium
1 Gresham $1,574
2 Portland $1,544
3 Oregon City $1,444
4 Lake Oswego $1,406
5 Aloha $1,405
6 Beaverton $1,398
7 Hillsboro $1,393
8 Tigard $1,362
9 Forest Grove $1,360
10 Woodburn $1,359
11 Tualatin $1,352
12 Salem $1,346
13 Newberg $1,337
14 McMinnville $1,325
15 Keizer $1,325
16 West Linn $1,308
17 Bend $1,224
18 Redmond $1,223
19 Grants Pass $1,191
20 Roseburg $1,161
21 Springfield $1,158
22 Corvallis $1,143
23 Albany $1,142
24 Eugene $1,135
25 Medford $1,123
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Premium costs are comparative as the specific Portland residence address can alter premiums greatly.

The type of vehicle that is being insured is one of the biggest factors when comparison shopping for the lowest-priced insurance for drivers over age 50. Vehicles with limited speed and performance, modern passenger safety features, or a low likelihood of having liability claims will cost significantly less to insure than adrenaline junky models. The next table showcases car insurance rates for a handful of the most economical automobiles to insure.

Cheapest Vehicles to Insure in Portland, OR
Make, Model, and Trim Level Estimated Cost for Full Coverage
Ford Escape XLS 4WD $1,265
Honda CR-V EX 2WD $1,273
Honda Accord LX-P 4-Dr Sedan $1,265
Toyota Prius $1,405
Jeep Wrangler Rubicon 4WD 2-Dr $1,422
Toyota Tacoma 4WD $1,431
Ford F-150 STX Super Cab 4WD $1,452
Chevrolet Impala LS $1,471
Honda Odyssey EX $1,480
Ford Edge SEL AWD $1,471
GMC Sierra SLE Regular Cab 2WD $1,501
Toyota RAV4 2WD $1,511
Dodge Grand Caravan Hero $1,501
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Price data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oregon minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Premium amounts do not factor in the specific area where the vehicle is garaged which can lower or raise premium rates noticeably.

Based upon the table data, you can presume that vehicles like the Ford Escape, Honda CR-V, and Honda Accord should be the most economical vehicles to insure for older drivers.

Types of discounts on Portland auto insurance rates

Discounts on auto insurance for drivers over age 50Insurance companies that provide coverage for drivers over age 50 may also provide special discounts that can lower rates by 30% or more if you are eligible to receive them. Larger auto insurance companies and a summarized list of policyholder discounts include:

The illustration below visualizes the comparison of insurance costs with and without discounts applied. The premiums assume a male driver, no claims or violations, Oregon state minimum liability limits, comp and collision included, and $1,000 deductibles.

The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with passive restraint, accident-free, multiple vehicle, homeowner, multiple policy, and anti-theft discounts applied. When taking advantage of discounts, theamount saved on auto insurance for drivers over age 50 is 30% or $399.

The chart below illustrates how your choice of deductibles can change premium costs when trying to find cheap insurance for drivers over age 50. The premiums assume a single male driver, full coverage, and no discounts are factored in.

In the chart above, a 30-year-old driver could lower rates by $296 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $446 by selecting a $1,000 deductible. Younger drivers, like the Age 20 chart data, could drop their prices $860 every year by using a higher deductible. When insureds make the decision to increase the deductibles on their policy, it is a good idea to have additional savings on hand to enable you to cover the extra out-of-pocket expense that comes with higher deductibles.

Here’s why you should compare rates often

Portland auto insurance rates are impacted by many factors which can substantially change the price of your policy. Simply turning a year older, buying a different home, or getting a few speeding tickets may generate price changes that may make certain companies much cheaper than others.

In addition, insurers change rates at least once a year in order to be able to pay unexpected claims. Larger than normal claims may cause rate hikes, while long-term profits can produce lower-cost Portland car insurance rates.

For example, the data below compares the cheapest car insurance in Portland, OR for a 30-year-old male driver with a good driving record, no prior claims, and excellent credit. If we look at prices based on his current rating profile, Grange may have the lowest car insurance rates in Portland at $973 annually. This is $505 less than the average premium paid by Oregon drivers of $1,478. Oregon Mutual, Country, Travelers, and USAA are the remainder of the cheapest Portland, OR auto insurance companies.

Now we will pretend the driver from the above example some claims, less-than-perfect credit, and a traffic citation. Because each company has their own unique process for determining rates in each state, getting updated rate quotes most likely will result in a different set of affordable companies as shown below.

Oregon Mutual now has the lowest car insurance rate in Portland with Amica, GEICO, Country, and Mutual Enumclaw completing the list. This illustrates why it is crucial to compare as many rates as possible to find the cheapest auto insurance rates for drivers over age 50.

Insurance prices can be altered by many factors and change frequently, so the best company the last time you compared rates may now be quite expensive.