It’s well known that car insurance companies don’t want you to look at other companies. People who shop for lower rates will probably switch auto insurance companies because of the high probability of finding coverage at a more affordable price. A study showed that drivers who compared rates once a year saved about $3,500 over four years as compared to drivers who never shopped around for lower prices.
If finding the best price on car insurance in Portland is your goal, learning how to quote prices and compare insurance rates can make it easier to shop your coverage around.
The best way to save money on auto insurance rates in Portland is to make a habit of regularly comparing prices from companies that insure vehicles in Oregon.
- First, get a basic knowledge of what is in your policy and the measures you can control to prevent expensive coverage. Many rating factors that result in higher rates like tickets, at-fault accidents, and an unacceptable credit history can be amended by making minor changes in your lifestyle. Read the full article for additional tips to help prevent expensive coverage and earn a bigger discount.
- Second, request price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from one company like GEICO and State Farm, while independent agencies can provide prices from many different companies.
- Third, compare the new quotes to your existing rates to see if a cheaper price is available. If you can save money and change companies, verify that coverage does not lapse between policies.
One thing to remember is to make sure you enter identical limits and deductibles on every price quote and and to get price quotes from every insurance company. Doing this enables an accurate price comparison and a good representation of prices.
This information will teach you how car insurance works and some tips to save money. If you are already insured, you should be able to buy cheaper insurance using this information. You just have to use the best way to compare different rates on the web.
Car insurance providers offering cheap rates in Oregon
The providers in the list below provide free rate quotes in Portland, OR. If multiple companies are listed, it’s highly recommended you compare several of them in order to get a fair rate comparison.
Take advantage of these seven discounts on Hyundai Ioniq insurance in Portland
Companies offering auto insurance don’t always list every policy discount very clearly, so the list below contains a few of the more common as well as the least known ways to save on insurance. If you don’t get every credit you deserve, you are throwing money away.
- Clubs and Organizations – Having an affiliation with a professional or civic organization can get you a small discount on your policy.
- Discount for New Cars – Buying insurance coverage on a new vehicle can save you some money compared to insuring an older model.
- Student in College – Kids living away from Portland attending college and do not take a car to college can receive lower rates.
- Federal Government Employee – Active or retired federal employment could qualify for a slight premium decrease depending on your company.
- Bundled Policy Discount – If you can combine your homeowners and auto policy with the same company you will save nearly 15% which can help you find low cost Hyundai Ioniq insurance.
- No Charge for an Accident – This one is not really a discount per se, but companies like Liberty Mutual, Allstate and State Farm will allow you to have one accident without the usual rate increase if your claims history is clear before the accident.
- Fewer Miles Equal More Savings – Driving fewer miles may enable drivers to earn substantially lower premium rates.
Don’t be surprised that most of the big mark downs will not be given to the overall cost of the policy. Most only apply to specific coverage prices like physical damage coverage or medical payments. If you do the math and it seems like you would end up receiving a 100% discount, you won’t be that lucky.
To view insurers that offer the discounts shown above in Portland, click here.
What if I want to buy from local Portland car insurance agents?
A lot of people still prefer to buy from a local agent and that can be a great decision Most agents can point out coverage gaps and will help you if you have claims. A good thing about getting online price quotes is that you can find cheap rate quotes and still have an agent to talk to. Buying from and supporting local agents is important especially in Portland.
By using this quick form, your coverage information is transmitted to insurance agents in Portland who will gladly provide quotes for your insurance coverage. There is no reason to drive around since rate quotes are delivered immediately to you. If you want to get a comparison quote from a specific insurance provider, feel free to search and find their rate quote page and submit a quote form there.
Auto insurance agents in Portland come in two varieties
If you would like to find a reliable insurance agency, it can be helpful to understand the different agency structures and how they can write your policy. Insurance agents in Portland can either be independent (non-exclusive) or exclusive. Both types of agents can provide insurance policies, but it is important to understand the subtle differences because it can factor into the type of agent you choose.
Independent Insurance Agents (or Brokers)
Agents in the independent channel are not employed by one company so they can quote policies with an assortment of companies and find you cheaper rates. If they find a lower price, they simply move your policy to a different company and you can keep the same agent. If you are comparing rate quotes, you absolutely need to compare quotes from independent agents to have the most options to choose from.
Shown below are Portland independent agencies that may be able to give you comparison quotes.
These type of agents can only quote rates from one company and some examples include State Farm, Allstate and AAA. They are unable to place coverage with different providers so always compare other rates. Exclusive agents are usually quite knowledgeable in insurance sales which can be an advantage.
Shown below are Portland exclusive insurance agencies that can give you price quote information.
Selecting an insurance agent requires you to look at more than just a cheap price. Some important questions to ask are:
- Did they already check your driving record and credit reports?
- Is vehicle mileage a factor when determining depreciation for repairs?
- Do they specialize in personal lines auto insurance in Portland?
- Which insurance companies are they affiliated with?
- If your car is totaled, how to they determine the replacement cost?
- Are claims handled at the agent’s location?
After receiving reasonable responses for all questions you ask as well as a price you’re happy with, it’s a good possibility that you have found an insurance agency that meets the criteria to provide insurance coverage.
Which car insurance company is best in Oregon?
Buying coverage from the highest-rated auto insurance provider can be difficult considering how many companies there are in Oregon. The information listed below may help you decide which car insurance providers you want to consider purchasing from.
Top 10 Portland Car Insurance Companies Ranked by Value
- American Family
- The Hartford
- Titan Insurance
- The General
- AAA Insurance
- State Farm
- Mercury Insurance
Top 10 Portland Car Insurance Companies Ranked by Claims Service
- State Farm
- AAA Insurance
- Liberty Mutual
- Titan Insurance
- The Hartford
- Mercury Insurance
Educate yourself about insurance coverages
Learning about specific coverages of your policy can help you determine the right coverages and the correct deductibles and limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Shown next are the normal coverages available from insurance companies.
Liability insurance protects you from damages or injuries you inflict on a person or their property by causing an accident. This insurance protects YOU against other people’s claims, and doesn’t cover damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see limits of 25/50/20 which stand for a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a limit of $20,000 paid for damaged property. Occasionally you may see a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.
Liability coverage pays for claims like bail bonds, legal defense fees and emergency aid. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase higher limits if possible. Oregon state minimum liability requirements are 25/50/20 but drivers should carry better liability coverage.
The chart below shows why buying minimum limits may not provide you with enough coverage.
Uninsured or underinsured coverage
This protects you and your vehicle when the “other guys” do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Due to the fact that many Oregon drivers only carry the minimum required liability limits (25/50/20 in Oregon), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently your uninsured/underinsured motorist coverages are set the same as your liability limits.
Medical expense coverage
Coverage for medical payments and/or PIP pay for bills such as hospital visits, nursing services, pain medications and X-ray expenses. The coverages can be utilized in addition to your health insurance program or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay
This coverage pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive coverage pays for claims such as damage from flooding, hitting a bird, a tree branch falling on your vehicle and damage from a tornado or hurricane. The maximum amount your insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
Collision coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things like hitting a mailbox, crashing into a ditch, damaging your car on a curb and crashing into a building. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible on your Ioniq to bring the cost down.
Be persistent to save money
When buying insurance coverage, it’s a bad idea to reduce coverage to reduce premium. There have been many cases where someone dropped collision coverage only to find out that it was a big mistake. Your aim should be to purchase a proper amount of coverage for the lowest price but still have enough coverage for asset protection.
We covered some good ideas how you can save on Hyundai Ioniq insurance in Portland. It’s most important to understand that the more providers you compare, the better your chances of lowering your premium rates. You may even be surprised to find that the lowest car insurance rates come from some of the lesser-known companies. These smaller insurers may have significantly lower premium rates on certain market segments than their larger competitors like State Farm, GEICO and Nationwide.
For more information, feel free to browse the resources below:
- Safe Vehicles for Teens (iihs.org)
- How Much are Portland Car Insurance Rates for Good Drivers? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Drivers with a DUI in Portland? (FAQ)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)
- Car Insurance: When not to Skimp (BankRate.com)
- All About Airbag Safety (State Farm)
- Shopping for a Safe Car (Insurance Information Institute)