What Car Insurance is Cheapest for a Toyota RAV4 in Portland?

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Toyota Rav4 insurance policy
Toyota Rav4 insurance policy image courtesy of QuoteInspector.com

Buying cheaper coverage for a Toyota RAV4 is pretty simple, but it hinges on a lot of rating factors such as whether you are a homeower, the size of your vehicle, and physical damage deductibles. Drivers in Oregon pay around $662 a year to insure their RAV4, but that cost is an approximation based upon a 50-year-old married male driver with full physical damage coverage and $1,000 deductibles.

But there is a high probability that you aren't exactly 50 years old or even a male, maybe you are single instead of married, and you need different coverage limits than the sample rates. Just a very minor change in policy rating criteria or coverages can result in a big discrepancy in the cost of insurance.

The different assumptions illustrate why the only way to find affordable rates for your Toyota is to do a thorough rate comparison.

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Toyota RAV4 Insurance Rates in Portland, OR
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RAV4 2WD $118 $222 $306 $18 $92 $756 $63
RAV4 Sport 2WD $118 $222 $306 $18 $92 $756 $63
RAV4 4WD $118 $222 $306 $18 $92 $756 $63
RAV4 Limited 2WD $118 $222 $306 $18 $92 $756 $63
RAV4 Limited 4WD $118 $222 $306 $18 $92 $756 $63
RAV4 Limited 4WD $118 $222 $306 $18 $92 $756 $63
RAV4 Sport 4WD $118 $222 $306 $18 $92 $756 $63
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Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oregon minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Price estimates do not factor in your specific Portland location which can modify price quotes considerably.

Comparing rates for budget auto insurance is confusing at best, and deciding which companies offer the best auto insurance rates for a Toyota RAV4 will take additional perseverance.

Every insurance company uses a slightly different approach to establish rates, so let's take a look at the auto insurance companies with the most affordable rates in Portland, OR. We do need to point out that Portland auto insurance rates are determined by lots of factors which can substantially change the cost of your policy. This price variability is why it is critical to shop around when trying to get the lowest auto insurance rates for a Toyota RAV4. Insurance prices can be altered by many factors and can change substantially, so the best option the last time you compared rates may now be costing you a lot of money.

Cheapest Insurance Rates for Your Toyota

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Rankings for the cheapest Oregon auto insurance companies
Rank Company Cost Per Year
1 Grange $715
2 Oregon Mutual $828
3 Country $856
4 Travelers $914
5 USAA $979
6 State Farm $1,071
7 Amica $1,125
8 Allied $1,179
9 GEICO $1,179
10 California Casualty $1,218
11 Mutual Enumclaw $1,224
12 Progressive $1,259
13 MetLife $1,301
14 21st Century $1,324
15 American Family $1,474
16 Encompass $1,558
17 Allstate $1,722
18 Farmers $1,994
19 Safeco $2,216
20 Liberty Mutual $2,533
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Grange may have some of the cheapest car insurance rates in Portland at around $715 per year. Oregon Mutual, Country, Travelers, and USAA also rank well as some of the cheapest Portland, OR auto insurance companies.

As shown above, if you are insured with Country and switched to Grange, you might realize an annual premium reduction of around $141. Customers with Travelers may save as much as $199 a year, and USAA policyholders might cut rates by $264 a year.

To see how much you can save, click here to get quotes or feel free to get quotes from the companies below.

It's important to note that these premium estimates are averaged across all ages of drivers and types of vehicles and do not take into consideration an exact zip code location for a Toyota RAV4. So the insurer that is best for you may not even be in the top 22 companies in the list above. That helps illustrate why you need to get auto insurance quotes using your own specific driver and vehicle information.

Cost difference between full coverage and liability

Buying cheaper auto insurance is probably important to the majority of people, and an effective way to buy cheap insurance for a Toyota RAV4 is to not buy full coverage. The illustration below illustrates the comparison of car insurance costs with full coverage compared to only the Oregon minimum liability coverage. The data is based on no violations or claims, $250 deductibles, drivers are not married, and no additional discounts are factored in.

If all age groups are averaged, comprehensive and collision coverage on your policy costs $1,991 per year more than buying just liability insurance. That raises the question if it's a good idea to buy full coverage. There isn't a steadfast formula to stop buying full coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let's say your vehicle's claim settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is totaled, you would only receive $6,000 after paying the physical damage deductible. If premium cost is more than $600 annually for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.

There are some conditions where only buying liability is not financially feasible. If you haven't satisfied your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage.

Accidents and violations increase rates

One of the best ways to enjoy affordable auto insurance rates for a RAV4 is to drive safely and not get tickets or have accidents. The illustration below highlights how traffic violations and at-fault accidents can influence auto insurance costs for each age group. The rates are based on a married male driver, comp and collision included, $250 deductibles, and no discounts are applied.

In the previous example, the average cost of car insurance in Oregon per year with no accidents or violations is $1,700. Factor in two speeding tickets and the average cost increases to $2,345, an increase of $645 each year. Now add two accidents along with the two speeding tickets and the 12-month cost of auto insurance for a Toyota RAV4 goes up to an average of $4,728. That's an increase of $3,028, or $252 per month, just for being a careless driver!

Why you should compare rates

Portland auto insurance rates are impacted by many things that can increase the cost of a policy. Getting older, increasing liability limits, or getting into an accident may generate price changes resulting in some companies being cheaper than others.

In addition to those changes, insurers change prices as often as every three months in order to maintain liquidity for claims. A period of increased losses can result in increased policy costs, while lower claim levels may cause cheaper RAV4 insurance rates.

To illustrate this point, the chart below shows the company with the cheapest car insurance in Portland, OR for a 35-year-old female driver with a clear driving record, no claims, and excellent credit. If we look at prices based on her current rating profile, Grange offers the lowest car insurance rates in Portland at $907 per year. This is $571 less than the average policy premium paid by Oregon drivers of $1,478. Country, Oregon Mutual, Travelers, and USAA are the remaining top five cheapest Portland, OR auto insurance companies.

The next chart shows rates after we give the driver from above a claim surcharge, a lower credit rating, and a couple of points charged on her driving record. Since every insurance provider has their own guidelines for determining rates, analyzing rate quotes may now present a new list of affordable companies as shown below.

Country now has the cheapest insurance rate in Portland, OR with Oregon Mutual, Allied, Amica, and California Casualty also being competitive. This example illustrates why it is critical to compare lots of rates to get the most economical insurance rates for a Toyota RAV4. Insurance prices are impacted by many risk factors and can change without notice, so the best company the last time you compared rates may now be quite expensive.

How to find low-cost insurance for a Toyota RAV4

It is possible to find better rates, and here are some of the better money-saving suggestions that can help Portland drivers locate cheaper auto insurance.

That last idea is particularly crucial, as was noted in the prior information. Prices in Portland vary considerably, so drivers shouldn't be reluctant to buy from a different company if a better deal can be had.

Many consumers stick with the same company and that's fine, but it isn't a good idea if that dedication is costing big bucks every year. In just a couple of minutes you could shop around and find cheaper insurance for a Toyota RAV4.

The insurance agencies below can help you decide which is the best policy, as lots of people like to have the advice of a professional agent when buying car insurance for a Toyota RAV4. It can be complicated to find the cheapest rate yourself, so getting advice from a licensed agent can bring comfort knowing you have adequate protection in the event of a claim. To find an agent in your neighborhood, click the button below the list or click here to compare prices now.

Nationwide Insurance: Eric L Weber Agency
4415 NE Sandy Blvd Ste 200 - Portland, OR 97213 - (503) 249-7667

Michael G Ferguson - State Farm Insurance Agent
736 NW 12th Ave #100 - Portland, OR 97209 - (503) 227-1393

Oregon Insurance Advisor - Mark Strauss
5201 SW Westgate Dr #300 - Portland, OR 97221 - (503) 922-4847

View more Portland, OR insurance agencies