Writing this article would sure be easy if we could simply give you the name of the one auto insurance company that has the cheapest rates in Oregon. That is not the case, however, as there are many unknown aspects like citations or tickets, the type of vehicle you drive, and how experienced of a driver you are, that all influence how much you pay for auto insurance. This article delves into the causes of high insurance rates and educate you enough to have a good start in finding the cheapest car insurance in Portland.
The car, truck, or SUV driven is a large factor that determines whether or not you can buy low-priced insurance for drivers over age 60. Vehicles with limited top-end speed, good crash test ratings, or low incidents of liability claims will cost significantly less to insure than higher performance models.
The data below showcases coverage premiums for some of the most cost-effective automobiles to insure in Oregon.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$1,394|
|Ford Escape XLS 4WD||$1,401|
|Honda Accord EX-L 4-Dr Sedan||$1,511|
|Toyota Tacoma 4WD||$1,560|
|Dodge Grand Caravan SE||$1,569|
|Ford Focus S 4-Dr Sedan||$1,617|
|Honda Odyssey EX W/Rear Entertainment||$1,622|
|Chevrolet Impala LS||$1,617|
|Chevrolet Equinox LT 2WD||$1,647|
|Toyota RAV4 4WD||$1,656|
|Volkswagen Jetta LE 4-Dr Sedan||$1,647|
|Ford Fusion S 4-Dr Sedan||$1,653|
|Toyota Camry LE||$1,647|
|Chevrolet Silverado LS Regular Cab 2WD||$1,653|
|Chevrolet Malibu LT||$1,677|
|Ford Explorer Eddie Bauer AWD||$1,686|
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Data rating is based on single female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oregon minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Price estimates do not factor in vehicle garaging location which can alter coverage prices substantially.
Based on these rates, we can assume that models like the Honda CR-V, Ford Escape, Honda Accord, and Toyota Prius should be a few of the most economical vehicles to insure for older drivers.
Finding good, cost effective auto insurance is tough enough, and figuring out which companies have the cheapest car insurance rates for drivers over age 60 may require even more diligence.
Every insurance provider has their own process for determining rates, so let’s begin by taking a look at the car insurance companies with the overall cheapest rates in Portland, OR. Keep in mind that Oregon car insurance rates are determined by lots of factors that can increase the price you have to pay for coverage. This price variation is why it is important to compare lots of rates when trying to find the most affordable insurance quotes for drivers over age 60. Auto insurance prices are impacted by many risk factors and change frequently, so the best company when you last compared rates may now be wasting a lot of money.
Find the Cheapest Car Insurance for Age 60+
Grange quotes some of the best car insurance rates in Portland at around $694 each year. Oregon Mutual, Country, USAA, and Travelers also qualify as some of the cheaper Portland, OR insurance companies.
As the rates illustrate above, if you have coverage with Oregon Mutual and switched to Grange, you could see savings of around $150. Insureds with Country may save as much as $153 a year, and USAA customers might reduce rates by $247 a year.
Remember that these premiums are averages for all types of drivers and the different vehicles they drive and do not factor in an exact zip code location for drivers over age 60. So the auto insurance company that has the lowest price for you may not even be in the top 22 companies in the list above. That illustrates why you need to get rate quotes from many companies using your own driver and vehicle profiles.
For older drivers, one of the big things that are looked at to determine the amount you pay for auto insurance is where your car is garaged. Areas with more people or higher crime rates likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower rates.
The next table shows the priciest cities in Oregon for drivers over age 60 to purchase auto insurance in. Portland is listed at #2 costing $1,529 for coverage, which is approximately $127 each month.
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Premium costs are comparative as the garaging address in Portland can affect auto insurance rates considerably.
The diagram below illustrates how choosing a deductible can raise or lower insurance prices when getting quotes for cheap insurance for drivers over age 60. The premiums assume a single female driver, comprehensive and collision coverage, and no discounts are factored in.
A 50-year-old driver could pocket $354 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $534 by choosing a $1,000 deductible. Youthful drivers, like the 20-year-old example, could roll back prices $902 or even more by using higher deductibles when buying full coverage. When using a larger deductible, it is essential to have enough savings set aside to allow you to pay the extra out-of-pocket expense associated with higher deductibles.
Discount Portland auto insurance rates
Insurance companies that offer coverage for drivers over age 60 could also offer special discounts that could potentially reduce rates by as much as 30% if you meet specific criteria. Popular car insurance companies and some of the premium reductions they offer are shown below.
- Progressive offers discounts for multi-vehicle, multi-policy, online signing, homeowner, online quote discount, and continuous coverage.
- MetLife policyholders can earn discounts including good student, multi-policy, defensive driver, accident-free, claim-free, good driver
- Mercury Insurance may include discounts for accident-free, type of vehicle, ease of repair, age of vehicle, annual mileage, and professional/association.
- Nationwide offers discounts including accident-free, Farm Bureau membership, family plan, easy pay, business or organization, and anti-theft.
- GEICO has savings for five-year accident-free, air bags, seat belt use, daytime running lights, good student, emergency military deployment, and anti-theft.
- AAA has discounts for good driver, good student, pay-in-full, education and occupation, multi-policy, and anti-theft.
The example below shows the difference between insurance costs with and without discounts applied to the policy premium. The information is based on a female driver, no violations or accidents, Oregon state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second shows the rates with defensive driving course, accident-free, safe-driver, multiple policy, anti-theft, and claim-free discounts applied. When drivers qualify for the discounts, the average savings per year on car insurance for drivers over age 60 is 29% or $692.
Illustration showing the impact of accidents and violations
The easiest way to enjoy the most affordable car insurance rates in Oregon for older drivers is to drive safe and not get tickets or have accidents. The example below illustrates how speeding tickets and accidents drive up car insurance costs for different age groups of insureds. The data assumes a single male driver, full coverage, $500 deductibles, and no discounts are applied.
The data charted above shows the average cost of auto insurance in Portland per year with no accidents and a clean driving record is $2,011. Factor in one speeding ticket and the average cost swells to $2,270, an increase of $259 each year. Now include two accidents along with the one speeding ticket and the yearly cost of car insurance for drivers over age 60 increases to an average of $4,592. That’s an increase of $2,581, or $215 per month, just for not maintaining a clean driving record!