Figuring out which company has the cheapest auto insurance rates for drivers with bad credit may require a little more sweat in order to find the best policy. Every insurance provider has their own formula for setting rates, so let’s take a look at the most budget-friendly auto insurance companies in Portland, OR.
It’s a good idea to know that Portland, OR auto insurance rates are determined by lots of factors which can substantially decrease or increase the cost of a policy. Improving your credit rating, moving across town, or getting a DUI can cause premium changes resulting in some companies being cheaper than others.
Find Cheaper Auto Insurance with Bad Credit
Grange normally has some of the cheapest car insurance rates in Portland at around $687 annually. This is $791 less than the average premium paid by Oregon drivers of $1,478. Country, Oregon Mutual, Travelers, and USAA also rank well as some of the most economical Portland, OR car insurance companies.
In the above rates, if you are a policyholder with Travelers and switched to Country, you may see savings of around $83. Policyholders with USAA could save as much as $119 a year, and State Farm customers might see rate reductions of $230 a year.
If you want to see how much you could save, click here to start a quote or quote rates from the companies below.
These premiums are averaged across all ages of drivers and types of vehicles and and are not calculated with a vehicle location for drivers with bad credit. So the company that has the cheapest rates for you may not even be in the top 22 companies shown above. That’s why you need to get rate quotes from many companies using your own personal information and vehicle type.
One of the many components that are looked at to help calculate the cost of insurance is where you live. More densely populated places will most likely have higher rates, whereas areas with less congestion get the luxury of paying less.
The table below ranks the most expensive places in Oregon for drivers with bad credit to buy car insurance in. Portland is ranked at #2 with the annual price of $1,499 for the average policyholder, which is approximately $125 each month.
|Rank||City||Average Per Year|
|Find Cheaper Insurance Go|
Prices are estimated as the garaging address in Portland can impact rates substantially.
The vehicle requiring insurance is one of the largest considerations that determines if you can find cheaper car insurance for drivers with bad credit. Vehicles with economical engines, good safety features, or a low likelihood of liability claims will cost less to insure than higher performance models. The table below showcases auto insurance prices for a handful of the most cost-effective vehicles to insure.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$1,434|
|Chevrolet Impala LS||$1,665|
|Honda CR-V EX-L 4WD||$1,681|
|Dodge Grand Caravan Hero||$1,698|
|Toyota Tacoma Double Cab 4WD||$1,730|
|Honda Accord EX-L 4-Dr Sedan||$1,782|
|Toyota Corolla XRS||$1,820|
|Chevrolet Silverado 3500HD LTZ Crew Cab 2WD||$1,885|
|Ford Edge SEL AWD||$1,910|
|Chevrolet Silverado Crew Cab Hybrid 2WD||$1,915|
|Kia Optima EX||$1,943|
|Ford F-250 XL Cabela Package 2WD||$1,953|
|Toyota Camry Hybrid||$1,943|
|Chevrolet Malibu Hybrid||$1,945|
|Ford Fusion S 4-Dr Sedan||$1,952|
|Toyota RAV4 Sport 4WD||$1,945|
|Ford Explorer Limited AWD||$1,983|
|Hyundai Elantra Blue 4-Dr Sedan||$2,013|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$2,016|
|Honda Odyssey EX-L W/Rear Entertainment||$2,049|
|Toyota Camry SE||$2,054|
|Nissan Altima 2.5 S 4-Dr Sedan||$2,049|
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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 multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Information does not factor in your specific Portland, OR location which can influence premiums greatly.
Based upon these rates, you can expect models like the Ford Escape, Toyota Prius, Chevrolet Impala, Honda CR-V, and Dodge Grand Caravan are most likely going to be some of the most economical vehicles to insure for people with poor credit. The cost of auto insurance will be higher anyway because there is more risk for drivers with bad credit, but generally speaking those specific models will probably have the lowest insurance rates that you are likely to find.
Auto insurance company ratings
Finding a highly-rated car insurance provider can be a challenge considering how many different companies insure vehicles in Oregon. The information in the lists below could help you analyze which auto insurers to look at putting your business with. The ratings below include companies with a nationwide focus, so companies that have a smaller presence are not included in these rankings.
Top 10 Major Auto Insurers in Portland Ranked by Claims Service
- State Farm
- AAA Insurance
- Liberty Mutual
- The Hartford
- The General
- 21st Century
Get discounts on Portland insurance rates
Insurers that offer quotes for drivers with bad credit may also offer rate discounts that can lower rates by 30% or more if you are eligible for them. A list of auto insurance companies and their offered discounts are detailed below.
- GEICO may include discounts for defensive driver, daytime running lights, emergency military deployment, multi-policy, federal employee, good student, and military active duty.
- Auto-Owners Insurance discounts include paid in full, anti-lock brakes, multiple vehicles, company car, student away at school, multi-policy, and safe vehicle.
- American Family offers premium reductions for early bird, air bags, good student, defensive driver, accident-free, and TimeAway discount.
- Esurance includes discounts for Switch & Save, paid-in-full, anti-lock brakes, anti-theft, online shopper, good student, and homeowner.
- Progressive policyholders can earn discounts including continuous coverage, online quote discount, online signing, homeowner, multi-policy, and multi-vehicle.
- State Farm has savings for multiple autos, Drive Safe & Save, safe vehicle, good student, defensive driving training, and multiple policy.
- AAA has discounts for good driver, multi-car, pay-in-full, anti-theft, education and occupation, AAA membership discount, and multi-policy.
The illustration below illustrates the comparison of car insurance rates with and without discounts applied. The data assumes a female driver, no claims, a clean driving record, Oregon state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with passive restraint, multiple vehicle, safe-driver, claim-free, anti-theft, and marriage discounts applied. When these discounts are applied, theaverage yearly reduction on auto insurance for drivers with bad credit is 28% or $484.
The chart below demonstrates how deductibles can affect yearly insurance costs when getting quotes for cheap insurance for drivers with bad credit. The premium estimates are based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.
The data above shows that a 40-year-old driver could pocket $294 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $442 by changing to a $1,000 deductible. Younger drivers, like the age 20 example, have the ability to save up to $730 or more by choosing larger deductibles on their policy.
If you do decide to increase your deductibles, it will be important to have enough in a savings account to satisfy the extra out-of-pocket expense associated with higher deductibles.
The benefits of price comparisons
Portland auto insurance rates are impacted by many factors which can substantially decrease or increase your annual premium. Simply turning a year older, getting married, or getting a ticket for running a stop sign can produce rate changes resulting in some rates now being cheaper than others.
Not only may things change on your end, but insurance companies modify rates multiple times each year to adjust for gains or losses. Higher than normal claim frequency or severity can cause more expensive prices, while a lower level of claims can cause cheaper Portland car insurance rates.
To help illustrate this point, the data below demonstrates which company has the cheapest car insurance in Portland, OR for a 30-year-old male driver with no prior accidents, a clean driving record, and a high credit rating. If we look at prices based on his personal risk profile, Grange might quote the cheapest car insurance rates in Portland at $973 annually. This is $505 less than the average policy premium paid by Oregon drivers of $1,478. Oregon Mutual, Country, Travelers, and USAA also make the list of the top five cheapest Portland, OR auto insurance companies.
Now we will pretend the driver in the first chart an accident surcharge, slightly worse credit, and a speeding citation. Due to the fact that every auto insurer has a different formula for filing rates in each state, analyzing rates may now show a slightly different list of the cheapest car insurance companies in Portland as shown below.
Oregon Mutual now has the best car insurance rate in Portland with Amica, GEICO, California Casualty, and Mutual Enumclaw also being competitive. This example proves why consumers need to take the time to take the time to shop around to get the most economical auto insurance quotes for drivers with bad credit. Insurance prices are calculated by many risk factors and can change without notice, so the most economical option the last time you checked may now be wasting a lot of money.
The insurance agents in Portland listed below can most likely help you decide which auto insurance policy would work best for you, since lots of drivers aren’t clear which coverage they need and would like to have a professional recommendation when comparing insurance rates for drivers with bad credit. It can be difficult to find the best policy yourself, and getting advice from a licensed Oregon insurance agent can give satisfaction knowing your policy gives you adequate protection.
To locate a Portland insurance agent using an interactive map, click the link at the bottom.
12700 NW Cornell Rd – Portland, OR 97229 – (503) 644-5333
Stamm Stuart Bybee Insurance
16455 SE Division St – Portland, OR 97236 – (971) 254-1148
Pete Zavos – State Farm Insurance Agent
8305 SE Monterey Ave #102 – Portland, OR 97086 – (503) 653-6392