For college grads, one of the more important things that are used to help calculate the cost of insurance is where you live. Cities with more crime and/or more people tend to have higher auto insurance costs, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower prices.
The next table rates the most expensive places in Oregon for college graduates to purchase a policy in. Portland is ranked #2 with an annual rate of $1,544 for car insurance, which is about $129 per month.
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Information shown are estimated as the specific zip code location can impact auto insurance rates noticeably.
Finding decent, low-priced auto insurance is not the easiest thing to accomplish, and finding out which companies have the lowest-priced insurance rates for college graduates takes even more work.
Every car insurance company has a proprietary method to determine premium rates, so we need to take a look at the insurance companies with the most affordable rates in Portland, OR. It’s important that readers know that Portland insurance rates are impacted by many factors that will increase or decrease the price you have to pay for coverage. Improving your financial situation, buying another vehicle, or getting a reckless driving citation may prompt premium changes that can cause some rates to be higher-priced than the competition.
Best Insurance Companies for Grads
|Rank||Company||Cost Per Year|
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Grange generally has some of the lowest car insurance rates in Portland at around $715 each year. Oregon Mutual, Country, Travelers, and USAA also are some of the most economical Portland, OR car insurance companies.
As shown in the rates above, if you are insured with Country and switched to Grange, you might achieve annual savings of in the neighborhood of $132. Customers with Travelers could save as much as $209 a year, and USAA customers might reduce prices by as much as $264 a year.
To find out how much you can save, click here or click several companies below for low rates.
Understand that those policy prices are averaged for all drivers and vehicles in Oregon and do not take into consideration a specific vehicle garaging location for college graduates. So the insurer that fits your needs best may not even be in the top 22 companies shown above. That underscores the importance of why you need to quote rates from as many companies as possible using your own personalized driver profile and vehicle information.
The car, truck, or SUV needing coverage is one of the largest factors when comparing quotes for the most economical auto insurance for college graduates. Vehicles with high performance features, a lack of advanced safety features, or a history of substantial liability claims will cost much more to insure than safer models.
The table below estimates insurance premiums for a handful of the cheaper vehicles to insure in Oregon.
|Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,355|
|Ford Escape XLT 2WD||$1,550|
|Toyota RAV4 4WD||$1,603|
|Chevrolet Equinox LT AWD||$1,611|
|Toyota Camry LE||$1,603|
|Dodge Grand Caravan Crew||$1,632|
|Honda CR-V EX-L 2WD||$1,701|
|Honda Odyssey LX||$1,706|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$1,716|
|Toyota Corolla XRS||$1,725|
|Jeep Wrangler Rubicon 4WD 2-Dr||$1,740|
|GMC Sierra 3500HD SLE Crew Cab 2WD||$1,748|
|GMC Sierra 2500HD SLT Crew Cab 4WD||$1,798|
|Ford Focus SE 4-Dr Sedan||$1,801|
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oregon minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Rates do not factor in specific location which can affect prices significantly.
Looking at the rates, you can see that vehicles like the Hyundai Elantra, Toyota Prius, Ford Escape, and Toyota RAV4 should be the most budget-friendly vehicles to insure for college grads.
Ending up with the best car insurance provider can be difficult considering how many different companies sell coverage in Portland. The rank data shown next may help you select which coverage providers to look at when trying to find cheaper insurance for college graduates. The ratings below are only made up of companies with a national presence, so smaller regional companies are not factored into this list.
Top 10 Major Auto Insurance Companies in Portland Ranked by Customer Satisfaction
- USAA – 94%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- GEICO – 89%
- The Hartford – 89%
- The General – 88%
- 21st Century – 88%
- Allstate – 88%
- Liberty Mutual – 88%
Get discount Portland car insurance rates
Insurance providers that sell policies for college graduates may have rate discounts that could reduce prices by as much as 30% if you meet certain criteria. A list of insurance companies and a summarized list of policyholder discounts can be read below.
- Farmers Insurance offers premium reductions for mature driver, alternative fuel, early shopping, teen driver, multi-car, and business and professional.
- State Farm discounts include multiple policy, good driver, multiple autos, anti-theft, passive restraint, Drive Safe & Save, and Steer Clear safe driver discount.
- Liberty Mutual may offer discounts for newly married, preferred payment discount, newly retired, good student, new move discount, new graduate, and safety features.
- MetLife has discounts for claim-free, multi-policy, good driver, accident-free, and defensive driver.
- Progressive offers discounts for multi-vehicle, online signing, multi-policy, good student, homeowner, continuous coverage, and online quote discount.
The information below illustrates the difference between insurance rates with and without policy discounts. The rates are based on a female driver, no claims or driving violations, Oregon state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with multiple vehicle, vehicle safety, accident-free, passive restraint, multiple policy, and claim-free discounts applied. When taking advantage of discounts, the average savings per year on insurance for college graduates is 28% or $441.
Low rates can quickly become overpriced
Portland, OR insurance rates are based on many factors which can substantially decrease or increase the price you pay for coverage. Getting older, buying a new vehicle, or getting a ticket for running a stop sign can trigger changes in premium that can make some companies more affordable than competitors.
And not only may your rating factors change, but auto insurance companies file new Oregon car insurance rates as needed to adjust for unexpected claims or profits. Significantly higher claims can cause higher prices, while profitable underwriting can produce cheaper Portland car insurance rates.
To help illustrate this point, the data below analyzes the cheapest car insurance in Portland, OR for a 30-year-old male driver with a clean driving record, no accidents, and solid credit. If we look at prices based on his current risk factors, Grange might quote the best car insurance rates in Portland at $944 each year. This is $534 less than the average rate paid by Oregon drivers of $1,478. Oregon Mutual, Country, Travelers, and USAA also make the list of the best Portland, OR auto insurance companies.
In this next rate comparison, we will give the driver from above an accident claim, slightly worse credit, and a stop sign violation. Since each auto insurer has a different formula for setting rates, analyzing rates may now show a different ranking of affordable companies as shown below.
Country now has the best price on car insurance in Portland, OR with Amica, Mutual Enumclaw, GEICO, and Allied also being competitive. This example illustrates why it is important to compare lots of rates when trying to get the best car insurance rates for college graduates. Insurance rates are impacted by many risk factors and can decrease or increase without notice, so the most economical option the last time you shopped your coverage around may now be quite expensive.
How to find cheaper car insurance for college graduates
It is possible to find better rates, and here are some of the recommended money-saving ideas that can help drivers locate cheap auto insurance.
- Bundle home or renters insurance to earn a discount on car insurance
- Avoid accidents
- Claim-free drivers earn discounts
- Do not get tickets or violations
- Get cheaper liability coverage by choosing a safer vehicle
- Compare prices as often as possible
That last tip is extremely important, as was pointed out in this piece. Coverage rates in Portland fluctuate constantly, so drivers shouldn’t be resistant to change to a new company if a cheaper price is available. Many drivers prefer to stick with one company, but it’s not recommended if that dedication is costing hundreds of dollars a year. It takes less than five minutes to compare rates and find cheaper auto insurance for college graduates.
If you have coverage questions and would like to have a professional recommendation when shopping for the best coverage for college grads, the insurance agencies below can help you make a decision which auto insurance policy would work best for you.
To find a Portland insurance agency near you, click the link after the list or click here to compare price quotes now.
- Gunnar Olson – State Farm Insurance Agent
107 SE Washington St Ste 143 – Portland, OR 97214 – (503) 230-0216
- Ross and Associates Insurance Services, Inc.
9201 SE 91st Ave – Portland, OR 97086 – (503) 698-3833
- Chris Lawson – State Farm Insurance Agent
3118 NE Broadway St – Portland, OR 97232 – (503) 282-4569