If your goal is the lowest price, then the best way to find cheaper car insurance rates is to do a yearly price comparison from insurers in Portland. Prices can be compared by following these guidelines.
- Step 1: Read and learn about how car insurance works and the modifications you can make to drop your rates. Many rating factors that increase rates such as tickets, at-fault accidents, and a bad credit score can be rectified by making lifestyle changes or driving safer. Keep reading for additional tips to get low prices and earn larger discounts.
- Step 2: Compare prices from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from one company like Progressive and State Farm, while independent agents can provide prices from many different companies.
- Step 3: Compare the price quotes to your current policy to see if a cheaper price is available. If you find a better price and make a switch, ensure coverage does not lapse between policies.
- Step 4: Notify your agent or company of your intent to cancel your current policy. Submit a down payment along with a completed application to your new company or agent. Once received, keep the new proof of insurance certificate above your visor, in the console, or in the glove compartment.
The key aspect of shopping around is that you’ll want to compare the same amount of coverage on each quote and and to get price quotes from as many different insurance providers as possible. Doing this ensures a fair price comparison and a thorough selection of prices.
Statistics show that most car insurance buyers have remained with the same car insurance company for at least the last four years, and roughly 40% of drivers have never even shopped around for cheap coverage. With the average car insurance premium being $1,700, Portland drivers could save as much as 60% every year, but they just don’t understand how much money they would save if they changed companies.
Portland Insurance Costs are Influenced by These Factors
Multiple criteria are part of the equation when you get a price on insurance. Some are pretty understandable such as traffic violations, but other factors are not as apparent such as whether you are married or how financially stable you are. Smart consumers have a good feel for a few of the rating criteria that are used to determine your insurance rates. When you know what positively or negatively impacts premium levels, this helps enable you to make changes that will entitle you to better insurance rates.
Prevent coverage lapses – Not maintaining insurance is illegal and as a result your rates will increase for letting your coverage cancel without a new policy in place. And not only will insurance be more expensive, being ticketed for driving with no insurance could earn you fines and jail time.
Are you male or female? – Statistics show that women are safer drivers than men. That doesn’t necessarily mean that females are better at driving than males. Men and women have fender benders in similar numbers, but the male of the species cause more damage and cost insurance companies more money. Not only that, but men also get cited for more serious violations like DWI (DUI) or reckless driving. Male teenagers have the highest risk to insure and thus pay the highest rates.
The diagram below visualizes the comparison of Chevy Camaro car insurance rates for male and female drivers. The premiums are based on a clean driving record, no claims, comp and collision included, $100 deductibles, drivers are single, and no other discounts are factored in.
Good drivers pay lower premiums – Even one moving violation may cause rates to rise substantially. Good drivers pay lower auto insurance prices compared to bad drivers. Drivers who get severe tickets like DUI, reckless driving or excessive speeding might be required by their state to file a proof of financial responsibility form (SR-22) with their state’s department of motor vehicles in order to legally drive a vehicle.
The information below illustrates how violations and at-fault claims influence Chevy Camaro insurance prices for different age categories. The premium estimates are based on a single female driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.
Lower coverage deductibles cost more – Comprehensive and collision coverage deductibles represent how much money you are willing to pay if a covered claim is submitted. Protection for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Examples of some claims that would be covered are rear-ending another vehicle, animal collisions, or theft of your vehicle. The larger the amount the insured is willing to pay, the better rate you will receive.
Annual miles is a factor – The more you drive your Chevy every year the more you will pay for insurance. The majority of insurers apply a rate based upon how you use the vehicle. Cars used primarily for pleasure use qualify for better rates than vehicles that are driven to work every day. Having the wrong rating on your Camaro may be wasting your money. It’s always a good idea to double check that your insurance policy properly reflects the right rating data.
Your location is a factor – Living in areas with lower population has definite advantages if you are looking for the lowest rates. Lower population translates into fewer accident claims and a lower car theft rate. People who live in big cities have to deal with more auto accidents and longer commute times. Higher commute times translates into higher accident risk.
Your stress level may be raising your rates – Do you work in a high-stress field? Careers such as real estate brokers, business owners, and emergency personnel have the highest average rates in part from high stress levels and lots of time spent away from family. Other jobs such as farmers, students and performers pay lower than average rates.
Insurance losses for a Chevy Camaro – Companies include the past claim history for a vehicle to help determine the price you pay. Models that tend to have higher claim frequency or loss amount will cost more to insure. The information below illustrates the historical insurance loss data for Chevy Camaro vehicles.
For each policy coverage, the statistical loss for all vehicles compiled together is equal to 100. Numbers under 100 suggest losses that are better than average, while values that are 100 or greater indicate frequent claims or an increased chance of larger losses than average.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Chevrolet Camaro 2dr||139||118||123||123||130||127|
|Chevrolet Camaro Convertible||92||85||107||85||95||103|
|Chevrolet Camaro ZL1 2dr||222||80||174|
|Chevrolet Camaro ZL1 Convertible||111||113|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Lowering your car insurance rates is an easy way to save money. You just have to invest a few minutes to compare rate quotes to find out which insurance company has low cost Portland car insurance quotes.
Getting rate quotes online is very simple and it takes the place of having to waste gas driving to and from local insurance agencies. Comparing Chevy Camaro insurance rates online has made agencies unnecessary unless your situation requires the professional advice of a local agent. Although, it is possible find lower rates online but have a local agent actually write the policy.
The companies in the list below have been selected to offer quotes in Oregon. If your goal is to find the cheapest car insurance in Portland, it’s highly recommended you get rates from several of them to get a more complete price comparison.
Chevy Camaro insurance coverage information
The information shown below highlights different prices for Chevy Camaro models. Learning as much as possible about how auto insurance prices are formulated can be valuable when making decisions on which insurance to purchase.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Oregon minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Premium costs do not factor in vehicle location which can raise or lower coverage rates noticeably.
Does it make sense to buy full coverage?
The chart below illustrates the difference between Chevy Camaro auto insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Oregon. The price estimates are based on no driving violations, no at-fault accidents, $100 deductibles, drivers are not married, and no discounts are taken into consideration.
Should you pay for full coverage or liability only?
There is no exact formula of when to stop paying for physical damage coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.
For example, let’s pretend your Chevy Camaro claim settlement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $5,000 after you pay the deductible. If you are paying in excess of $500 a year for physical damage coverage, then it may be the right time to buy liability only.
There are a few situations where only buying liability is not advised. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
Three reasons to insure your vehicle
Despite the potentially high cost of Chevy Camaro insurance, maintaining insurance serves several important purposes.
- Almost all states have compulsory liability insurance requirements which means you are required to carry a specific minimum amount of liability insurance if you drive a vehicle. In Oregon these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If you took out a loan on your Chevy, most banks will require that you carry insurance to guarantee loan repayment. If you cancel or allow the policy to lapse, the bank may buy a policy for your Chevy at a significantly higher premium and force you to reimburse them for the much more expensive policy.
- Insurance protects both your vehicle and your assets. It will also cover all forms of medical expenses incurred in an accident. Liability coverage also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If you have damage to your Chevy as the result of the weather or an accident, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of carrying adequate insurance more than cancel out the cost, specifically if you ever have a liability claim. As of last year, the average driver in Oregon overpays as much as $810 a year so it’s recommended you shop around once a year at a minimum to ensure rates are inline.
Don’t overlook these Chevy Camaro insurance discounts
Car insurance can be pricey, but companies offer discounts to help offset the cost. Certain discounts will be applied at the time you complete a quote, but a few need to be manually applied before you will receive the discount.
- Resident Student – Kids who live away from home at college and won’t have access to an insured vehicle may qualify for this discount.
- Discounts for Responsible Drivers – Insureds without accidents could pay up to 40% less than drivers with accidents.
- Discount for Passive Restraints – Vehicles with factory air bags and/or automatic seat belt systems may earn rate discounts of up to 25% or more.
- Club Memberships – Joining certain professional organizations could earn you a nice discount on your next renewal.
- Multi-line Discount – Larger insurance companies have a lower premium rate if you buy auto and life insurance together.
Just know that some credits don’t apply to the overall cost of the policy. Most cut individual premiums such as liability and collision coverage. So despite the fact that it appears all the discounts add up to a free policy, you’re out of luck.
The chart below illustrates the difference between Chevy Camaro auto insurance rates with and without discounts. The premiums are based on a male driver, no claims or driving violations, Oregon state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, claim-free, multi-car, multi-policy, and marriage discounts applied.
A list of car insurance companies and some of the premium reductions they offer are outlined below.
- Progressive may have discounts that include online quote discount, online signing, multi-policy, good student, homeowner, and multi-vehicle.
- Farmers Insurance discounts include switch companies, alternative fuel, youthful driver, homeowner, good student, and early shopping.
- Farm Bureau has savings for multi-policy, renewal discount, safe driver, multi-vehicle, youthful driver, driver training, and 55 and retired.
- State Farm includes discounts for driver’s education, good student, safe vehicle, Drive Safe & Save, and multiple policy.
- GEICO may include discounts for defensive driver, emergency military deployment, seat belt use, multi-policy, and anti-theft.
- SAFECO offers discounts for teen safety rewards, homeowner, teen safe driver, bundle discounts, drive less, multi-car, and anti-lock brakes.
- Liberty Mutual policyholders can earn discounts including hybrid vehicle, good student, multi-policy, multi-car, and preferred payment discount.
If you need cheaper Portland car insurance quotes, ask all the companies the best way to save money. All car insurance discounts might not apply in Portland. For a list of companies who offer discounts in Portland, follow this link.
When to have guidance from a local insurance agent
Many people still prefer to sit down with an agent and doing so can bring peace of mind Professional agents are trained risk managers and help submit paperwork. A nice benefit of price shopping on the web is you can get lower prices and still choose a local agent. And buying from neighborhood insurance agencies is important especially in Portland.
To help locate an agent, after submitting this quick form, the coverage information is sent to companies in Portland who will give you quotes for your insurance coverage. It makes it easy because there is no need to visit any agencies because quoted prices will be sent to the email address you provide. In the event you want to get a comparison quote from a specific company, you just need to search and find their rate quote page and fill out the quote form the provide.
Exclusive agents vs. Independent agents
If you are wanting to find a reliable agent, it helps to know the two types of insurance agents from which to choose. Insurance agencies in Portland may be either independent or exclusive depending on the company they work for. Either one can sell and service auto insurance coverage, but it’s good to learn how they differ because it may have an impact on the selection process.
Independent Agents (or Brokers)
Independent agencies are not required to write business for one company and that gives them the ability to insure with multiple insurance companies and find you the best rates. To move your coverage to a new company, your policy is moved internally which is easy for the insured. If you are comparing auto insurance prices, it’s a good idea to check rates from several independent agencies so that you have a good selection of quotes to compare.
Listed below is a partial list of independent agents in Portland that may be able to give you competitive price quotes.
Exclusive Auto Insurance Agents
Agents in the exclusive channel can usually just insure with one company like AAA, Allstate, and State Farm. Exclusive agents are unable to provide prices from multiple companies so they are skilled at selling on more than just price. Exclusive insurance agents are well trained on the products they sell which can be an advantage.
Below is a short list of exclusive insurance agents in Portland who can help you get price quote information.
Deciding on an car insurance agent requires more thought than just the price. Here are some questions you might want to ask.
- Are there any extra charges for paying monthly?
- Are all drivers listed on the coverage quote?
- Is the coverage adequate for your vehicle?
- How would your car be valued if totaled?
- Are they in the agency full-time?
- Are they giving you every discount you deserve?
- Are they primarily personal or commercial lines agents in Portland?
- How often do they review policy coverages?
Quote often and quote early
When trying to cut insurance costs, it’s a bad idea to buy less coverage just to save a little money. Too many times, an insured cut physical damage coverage only to discover later that it was a big error on their part. Your goal should be to buy enough coverage at the best price but still have enough coverage for asset protection.
We’ve covered many ideas to find cheap Chevy Camaro insurance in Portland. The key thing to remember is the more times you quote, the better your comparison will be. You may even discover the best rates are with a lesser-known regional company. These smaller insurers can often insure niche markets at a lower cost as compared to the big name companies such as Progressive or GEICO.
To read more, take a look at the following helpful articles:
- Speed and Speed Limit FAQ (iihs.org)
- What Car Insurance is Cheapest for Ride Shares in Portland? (FAQ)
- Who Has Cheap Auto Insurance Rates for High Risk Drivers in Portland? (FAQ)
- Child Safety Seats (Insurance Information Institute)
- Rental Reimbursement Coverage (Allstate)