The make and model of vehicle on the policy is probably the most important factor that determines whether or not you find low-priced insurance for electric cars. Vehicles with economical engines, good crash test ratings, or a low likelihood of having liability claims will cost substantially less to insure than adrenaline junky models. The next list shows insurance rates for the cheapest vehicles to insure.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX 4-Dr Sedan | $1,438 |
| Honda CR-V LX 4WD | $1,446 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,560 |
| Toyota Prius | $1,593 |
| Ford Edge Limited 2WD | $1,669 |
| Honda Odyssey EX-L W/Rear Entertainment | $1,789 |
| Ford Escape XLT 4WD | $1,805 |
| Chevrolet Silverado LT Regular Cab | $1,827 |
| Kia Optima LX | $1,833 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,852 |
| GMC Sierra 2500HD SLT Extended Cab 4WD | $1,912 |
| Ford Fusion S 4-Dr Sedan | $1,955 |
| Toyota RAV4 Limited 2WD | $1,960 |
| Toyota Camry LE | $1,955 |
| Dodge Grand Caravan Hero | $1,961 |
| Toyota Tacoma 4WD | $1,977 |
| Ford F-150 STX Regular Cab 4WD | $1,984 |
| Toyota Corolla XLE | $2,056 |
| Jeep Grand Cherokee Laredo 4WD | $2,089 |
| Chevrolet Equinox LT 2WD | $2,099 |
| Ford F-250 XL Turbo Diesel 4WD | $2,091 |
| Hyundai Sonata GLS 4-Dr Sedan | $2,094 |
| Chevrolet Malibu LT | $2,129 |
| Find Cheaper Rates Go | |
Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oregon minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Premium costs do not factor in vehicle location which can decrease or increase coverage prices considerably.
Looking at the data, you can presume that makes and models like the Honda Accord, Honda CR-V, Volkswagen Jetta, Toyota Prius, and Ford Edge are a few of the more affordable vehicles to insure for eco-friendly vehicles.
Finding good, cost effective auto insurance is hard enough, and deciding which companies offer the lowest-priced car insurance rates for electric cars calls for a bit more work.
Each insurance company has their own unique process for determining prices, so let’s begin by examining the car insurance companies that tend to be cheaper in Oregon. It’s important to understand that Oregon car insurance rates are influenced by many factors that can increase the policy premium. Simply getting older, buying a new vehicle, or getting a couple of tickets can trigger price changes resulting in some companies being more affordable than before.
Lowest Insurance Price Quotes for EV’s
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Grange | $687 |
| 2 | Country | $822 |
| 3 | Oregon Mutual | $853 |
| 4 | USAA | $941 |
| 5 | Travelers | $942 |
| 6 | State Farm | $1,061 |
| 7 | GEICO | $1,144 |
| 8 | Amica | $1,171 |
| 9 | Allied | $1,179 |
| 10 | California Casualty | $1,182 |
| 11 | Mutual Enumclaw | $1,188 |
| 12 | Progressive | $1,222 |
| 13 | MetLife | $1,288 |
| 14 | 21st Century | $1,324 |
| 15 | American Family | $1,459 |
| 16 | Encompass | $1,558 |
| 17 | Allstate | $1,705 |
| 18 | Farmers | $1,994 |
| 19 | Safeco | $2,238 |
| 20 | Liberty Mutual | $2,433 |
| Find Cheaper Rates Go | ||
Grange has some of the lowest car insurance rates in Portland at around $687 per year. This is $791 less than the average policy premium paid by Oregon drivers of $1,478. Country, Oregon Mutual, USAA, and Travelers would also be considered some of the more affordable Portland, OR insurance companies.
As the example above demonstrates, if you currently buy coverage from USAA and switched to Grange, you could earn a yearly savings of approximately $254. Policyholders with Travelers might save as much as $255 a year, and State Farm customers might cut rates by $374 a year.
It’s important to note that these premiums are averages for all types of drivers and the different vehicles they drive and do not take into consideration a specific vehicle garaging location for electric cars. So the car insurance company that can offer you the lowest price may not even be in the list above. That points out the importance of why you need to compare rates from multiple companies using your own driver data and vehicle information.
Discount Portland auto insurance
Insurers that provide coverage for electric cars may provide discounts that can lower rates by as much as 35% if you meet the requirements. A list of car insurance companies and some of the discounts are outlined below.
- GEICO has savings for multi-vehicle, daytime running lights, federal employee, defensive driver, anti-theft, military active duty, and driver training.
- Travelers may have discounts that include early quote, multi-car, new car, home ownership, multi-policy, and good student.
- Farm Bureau discounts include driver training, good student, multi-vehicle, multi-policy, renewal discount, and youthful driver.
- Liberty Mutual offers premium reductions for new move discount, preferred payment discount, newly married, teen driver discount, hybrid vehicle, newly retired, and safety features.
- American Family offers discounts for mySafetyValet, defensive driver, Steer into Savings, accident-free, and TimeAway discount.
- Progressive policyholders can earn discounts including multi-policy, online signing, good student, homeowner, and continuous coverage.
The example below illustrates the comparison of car insurance costs with and without discounts applied to the premium. The premiums assume a male driver, no driving violations, no at-fault accidents, Oregon state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with accident-free, anti-theft, claim-free, homeowner, defensive driving course, and passive restraint discounts applied. When these discounts are applied, the average savings per year on car insurance for electric cars is 28% or $693.
The diagram below highlights how deductible choice can increase or decrease insurance costs when quoting cheap insurance for electric cars. The prices are based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.
The chart above illustrates that a 50-year-old driver could lower rates by $222 a year by switching from a $100 deductible up to a $500 deductible, or save $336 by switching to a $1,000 deductible. Younger drivers, like the Age 20 category, can cut as much as $740 annually by choosing a larger deductible amount. If you do decide to increase your deductibles, it is necessary to have plenty of money set aside to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Why it’s important to shop around
Oregon car insurance rates are calculated based on many things which can substantially change the cost of your policy. Improving your credit score, increasing deductibles, or getting caught speeding can cause premium changes that can cause some rates to be much cheaper than others. In addition, auto insurance companies change the rates they charge in Oregon every year to adjust for unexpected claims or profits. Higher than normal claim frequency or severity may cause price increases, while lower claim expenses may cause more affordable Portland car insurance rates.
For instance, the data below analyzes the cheapest car insurance in Portland, OR for a 30-year-old male driver with a clear driving record, no claims, and good credit. If we estimate rates based on his current situation, Grange quotes the best car insurance rates in Portland at $935 per year. This is $543 less than the average rate paid by Oregon drivers of $1,478. Country, Oregon Mutual, Travelers, and USAA are the rest of the best Portland, OR auto insurance companies.
The next chart shows rates after we give the driver from the above example a chargeable claim, a lower credit score, and a traffic ticket or two. Since each insurance company has a proprietary method to determine rates, comparing insurance quotes may now present a new list of affordable Portland car insurance companies as shown below.
Amica now has the cheapest auto insurance in Portland, OR with GEICO, Country, Mutual Enumclaw, and Allied also being competitive. This example illustrates why it is critical to shop around when trying to get the cheapest auto insurance quotes for electric cars.
Car insurance prices are determined by many risk factors and can increase or decrease at any time, so the cheapest option the last time you shopped your coverage around may now be wasting a lot of money.
Tips to find economical insurance for electric cars
The list below shows a few penny-pinching suggestions that can help you find cheaper auto insurance.
- On older vehicles, drop full coverage
- Do not get traffic tickets
- Buy safe vehicles
- Maintain a safe distance and avoid accidents
- Good credit scores may make rates cheaper
- Increase the comprehensive and collision deductibles on your policy
- Compare prices as often as possible
That last idea is very crucial, as was affirmed in the prior information. Insurance prices in Portland can change considerably in a year, so don’t be unwilling to buy from a new company if you can find a cheaper rate. Staying with the same company for years is fine, but it’s not a good idea if that inflexibility results in costing you a wad of cash every year. Take a couple minutes and compare rates and find cheaper auto insurance for electric cars.
If you aren’t sure which coverage you need and prefer to get some professional input when shopping for the best coverage for eco-friendly vehicles, the agents shown below can help you determine which car insurance policy is best.
To find an agent near you, click the link after the list or click here to compare price quotes now.
- John Freeman – State Farm Insurance Agent
8519 SE Woodstock Blvd – Portland, OR 97266 – (503) 228-1311 - Ricky Hayter – State Farm Insurance Agent
7112 NE Sandy Blvd – Portland, OR 97213 – (503) 253-9315 - Chet Hill Insurance
10402 NE Sandy Blvd – Portland, OR 97220 – (503) 256-2020