The words “cheap” and “insurance” really don’t belong together, especially when you are trying to find the lowest insurance rates for business use. In an attempt to save some money, let’s lead off by showing you some of the factors that impact car insurance prices, and find a few ways to take the sting out of the next policy you buy.
Deciding which companies have the cheapest auto insurance rates for business use will take a tad more effort than just quoting one company’s rates.
Each insurer has a unique approach for filing rates in each state, so let’s rank the auto insurance companies with the overall cheapest rates in Oregon.
Cheap Insurance Rates for Business Use
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Grange normally has some of the most affordable car insurance rates in Portland at around $687 each year. This is $791 less than the average price paid by Oregon drivers of $1,478. Oregon Mutual, Country, Travelers, and USAA would also be considered some of the lowest-priced Portland, OR car insurance companies.
As illustrated above, if you are a policyholder with Travelers and switched to Grange, you might achieve a yearly price reduction of around $265. Drivers with USAA might save as much as $292 a year, and State Farm customers might see rate reductions of $353 a year.
It’s important to note that these premium estimates are averaged across all drivers and vehicles in Oregon and do not take into consideration a specific zip code for business use. So the company that has the cheapest price for you may not even be in the top 22 companies in the list above. That emphasizes why you need to quote rates from many companies using your own driver information and specific vehicle type.
For using your car for business, one of the more important criteria that determine the annual cost of car insurance is the neighborhood you call home in Portland. Areas with more people or more claims will most likely pay more, whereas areas with lower crime rates and fewer weather claims have the luxury of lower rates.
The table below shows the most expensive cities in Oregon for business use in which to purchase auto insurance. Portland is listed at #2 having an annual price of $1,544 for coverage, which is about $129 monthly.
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Premium costs are comparative as the garaging address in Portland can change price quotes substantially.
Picking the highest-rated car insurance company is difficult considering how many choices there are in Portland. The company information listed below could help you decide which coverage providers you want to consider when comparing auto insurance rates for business use. The ratings below are only made up of companies with a national presence, so companies that focus mainly on Oregon business are not included in the list.
Top 10 Large Auto Insurance Companies in Portland Ranked by Value
- American Family
- The Hartford
- The General
- State Farm
- AAA Insurance
Top 10 Large Auto Insurance Companies in Portland Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- GEICO – A++
- State Farm – A++
- The Hartford – A+
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Progressive – A+
- The General – A-
The diagram below shows how choosing a deductible can affect annual premium costs when searching for cheap insurance for business use. The rates are based on a single male driver, full coverage, and no discounts are applied.
The chart above illustrates that a 40-year-old driver could save $368 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $552 by changing to a $1,000 deductible. Youthful drivers, like the 20-year-old example, can save $1,212 each year just by choosing larger deductibles. If you do raise deductibles, it is a good idea to have plenty of discretionary funds to enable you to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
How to find budget-friendly car insurance for business use
It is possible to find better rates, and here are many penny-pinching solutions that can help Oregon drivers quote more affordable coverage.
- Good credit can help you save money
- Vehicles with safetly features generally cost less to insure
- Do not pay for comprehensive and collision coverage on older vehicles
- Buying home and auto together can help save money
- Do not get into accidents
- Compare price quotes at least once a year
That final tip is particularly critical, as we hit on in this piece. Insurance prices change frequently, so you should be ready to switch to a new company if a better deal can be had.
Staying with the same company for years is fine, but is isn’t recommended if it’s costing you hundreds of dollars a year. In less than five minutes you could compare rates to find cheaper auto insurance for business use in Portland.