This would be a really short article if we could simply tell you the one Oregon auto insurance company that has the best car insurance rates in Oregon. It’s just not that easy, however, as there are a lot of unknowns such as what level of deductibles you need, if you own or rent your home, and whether you are a man or a woman, that all have an effect on the price of a policy. If you keep reading, we will teach you about the things that cause high insurance rates and educate you enough to have a solid foundation to find cheaper car insurance in Oregon.
For high risk drivers, one of the largest factors that are looked at to help calculate the amount you pay for auto insurance is where you choose to live. Areas with high crime rates or more dense population will most likely have higher rates, whereas areas with less congestion benefit from lower coverage costs.
The next table rates the most expensive places in Oregon for high risk drivers to buy car insurance in. Portland makes the list at #2 with an annual premium of $1,529 on average, which is about $127 monthly.
|Find Cheaper Insurance Go|
Table data uses approximated as the specific geographic location can lower or raise price quotes substantially.
Comparing rates for low-cost auto insurance is not the easiest thing to accomplish, and deciding which company quotes the cheapest insurance rates for high risk drivers may require more quotes for comparison. Every insurance company has their own process to determine premium rates, so first let’s look at the rankings for the insurance companies with the overall best prices in Portland, OR.
It’s important to know that Oregon insurance rates are impacted by many things that can increase the price of your policy. Simply improving your credit score, buying a safer car, or getting a driving violation may prompt premium changes that can cause some rates to be less affordable than competitors.
Best Insurance Companies for Risky Drivers
Grange normally has some of the cheapest car insurance rates in Portland at around $687 each year. Country, Oregon Mutual, Travelers, and USAA also are some of the best Portland, OR insurance companies.
In the above rates, if you are a policyholder with Travelers and switched to Country, you may see savings of about $102. Oregon drivers with USAA may save as much as $148 a year, and State Farm customers might lower prices by $218 a year.
To see if you’re overpaying, click here or visit any of the low-priced companies below.
It’s important to note that these rates are averages for all ages of drivers and types of vehicles and and are not figured with an exact vehicle garaging location for high risk drivers. So the insurer that can offer you the lowest price may not even be in the list above. That illustrates why you need to get rate quotes from many companies using your own personalized driver profile and vehicle information.
Types of discounts on Portland car insurance
Insurance companies that offer quotes for high risk drivers may also offer rate discounts that can lower rates by 40% or more if you meet certain criteria. A list of insurance companies and some of the premium reductions they offer can be read below.
- Mercury Insurance offers premium reductions for low natural disaster claims, good student, multi-policy, type of vehicle, and good driver.
- Farmers Insurance has discounts for electronic funds transfer, switch companies, mature driver, business and professional, youthful driver, and homeowner.
- Farm Bureau may include discounts for driver training, 55 and retired, multi-policy, youthful driver, and safe driver.
- State Farm offers discounts for accident-free, Drive Safe & Save, multiple autos, multiple policy, good driver, and student away at school.
- Allstate may have discounts that include teenSMART discount, EZ pay plan discount, premier plus, passive restraint, anti-theft, 55 and retired, and premier discount.
- GEICO has savings for defensive driver, multi-policy, anti-theft, membership and employees, and five-year accident-free.
The information below illustrates the comparison of insurance prices with and without discounts. The prices are based on a female driver, two speeding tickets and one accident, Oregon state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second shows the rates with paperless filing, homeowner, multiple vehicle, anti-theft, marriage, and paid-in-full discounts applied. When taking advantage of discounts, theaverage yearly reduction on insurance for high risk drivers is 28% or $810.
How accidents and violations affect rates
One of the best ways to enjoy the most affordable insurance prices for high risk drivers is to drive safe and avoid traffic citations and accidents. The information below demonstrates how citations and accidents impact insurance prices for each age group. The information is based on a married female driver, comp and collision included, $100 deductibles, and no discounts are factored in.
The data above shows the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,884. Get one speeding ticket and the average cost rises to $2,194, an increase of $310 each year. Now include two accidents along with the one speeding ticket and the annual cost of insurance for high risk drivers increases to an average of $4,819. That’s an increase of $2,935, or $245 per month, just for not driving attentively!
Rate difference between full and liability-only coverage
Paying less for insurance is the goal of the majority of vehicle owners, and one way to save on the cost of insurance for high risk drivers is to not insure for full coverage. The diagram below shows the difference between premium costs when comparing full coverage to liability only. The price estimates are based on no tickets, no at-fault accidents, $250 deductibles, drivers are not married, and no discounts are factored in.
If all age groups are averaged, physical damage coverage on your policy costs an additional $1,682 per year more than just buying liability only. That brings up the question when is the right time to remove full coverage. There is no written rule that is best for determining when to drop comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.
How to find budget-friendly auto insurance for high risk drivers
The list below shows some of the better penny-pinching suggestions that can help Oregon drivers get more affordable car insurance.
- Staying accident-free helps keep rates low
- Vehicles with good safety ratings are usually cheaper to insure
- Be a cautious driver
- Do not file small claims
- Buy your auto and home insurance from the same company and save
- Compare rate quotes often
The last tip in the list is particularly necessary, as we emphasized in the prior information. Coverage rates fluctuate constantly, so drivers shouldn’t be resistant to switch companies if you can save money.
Having a favorite company is great, but we do not recommend it if that devotion results in you overpaying hundreds every year. Take a few minutes and shop around to find cheaper insurance for high risk drivers in Portland.