A recent study showed that most auto insurance buyers have bought auto insurance from the same company for at least the last four years, and 38% of drivers have never compared auto insurance rates at all. Portland drivers could save an average of approximately 60% each year, but most just don’t grasp how much they could save if they switched to a cheaper policy.
If your goal is the lowest price, then the best way to find low-cost Lexus LC 500 insurance in Portland is to compare prices at least once a year from insurers in Oregon.
- First, it will benefit you to learn about the different coverages in a policy and the things you can control to keep rates down. Many things that result in higher prices like speeding and a bad credit score can be controlled by making minor changes in your lifestyle.
- Second, request price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like GEICO or Farmers Insurance, while independent agencies can quote rates for many different companies.
- Third, compare the price quotes to your existing policy to see if a cheaper price is available. If you find a lower rate quote and make a switch, make sure coverage is continuous and does not lapse.
- Fourth, provide adequate notice to your current company to cancel your current policy and submit payment along with a signed and completed policy application to the new company. As soon as coverage is bound, put the certificate of insurance above your visor, in the console, or in the glove compartment.
One bit of advice is to use the same coverage limits and deductibles on every quote request and and to get price estimates from as many companies as you can. Doing this guarantees a level playing field and and a good selection of different prices.
Best Lexus LC 500 insurance rates in Oregon
The auto insurance companies shown below are our best choices to provide price quotes in Portland, OR. To locate the best car insurance in Portland, OR, we suggest you visit several of them in order to get a fair rate comparison.
Discounts mean cheaper rates for Lexus LC 500 insurance in Portland
Insuring your vehicles can cost a lot, but you can get discounts to reduce the price significantly. Some trigger automatically when you complete an application, but some discounts are required to be manually applied before being credited.
- Multi-line Discount – Select car insurance companies reward you with lower prices if you buy life insurance.
- College Student Discount – Youth drivers who live away from home at college and don’t have a car may be insured at a cheaper rate.
- Payment Discounts – If you pay your entire premium ahead of time rather than spreading payments over time you can avoid monthly service charges.
- Telematics Devices – Drivers who elect to allow their insurance company to look at where and when they drive by installing a telematics device such as Allstate’s Drivewise and State Farm’s In-Drive system could possibly reduce rates as long as the data is positive.
- Own a Home and Save – Just being a homeowner can earn you a little savings because it demonstrates responsibility.
- ABS Braking Discount – Anti-lock brake equipped vehicles can stop better under adverse conditions so you can save 10 percent or more.
- Accident Forgiveness Coverage – This one is not really a discount per se, but a handful of insurance companies will turn a blind eye to one accident before raising your premiums if you have no claims for a specific time period.
- Discounts for Government Workers – Simply working for the federal government may reduce rates when you quote Portland auto insurance with select insurance companies.
- Lower Rates for Military – Being on active deployment in the military could trigger a small discount.
As a footnote on discounts, most discount credits are not given to the entire cost. Most only cut the price of certain insurance coverages like liability, collision or medical payments. Even though it may seem like you would end up receiving a 100% discount, companies don’t profit that way.
Auto insurance companies that may have these benefits include:
When getting free Portland auto insurance quotes, it’s a good idea to every insurance company how you can save money. Some of the discounts discussed earlier may not be offered in Portland. To see a list of insurers offering car insurance discounts in Portland, follow this link.
Independent versus exclusive car insurance agents
Certain consumers still like to visit with an insurance agent and that can be a great decision Good agents can help determine the best coverages and give you someone to call. One of the best bonuses of comparing rates online is you may find lower rates and still choose a local agent.
Once you complete this form (opens in new window), the coverage information is sent to agents in your area who will give you bids and help you find cheaper coverage. You don’t have to leave your computer because prices are sent to the email address you provide. If you have a need to get a comparison quote from a specific company, feel free to go to their quote page to submit a rate quote request.
Picking an insurance company requires more thought than just a low price. Before buying a policy in Portland, get answers to these questions.
- Do they have cheaper tiers of coverage?
- Are they properly licensed to sell insurance in Oregon?
- Does the agency have a positive business rating?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Which family members are covered?
Car insurance agents in Portland come in two varieties
If you need to find a local insurance agency, it helps to know the two types of agencies and how they differ in how they quote coverages. Auto insurance agents in Portland can either be exclusive agents or independent agents. Both types can insure your vehicles properly, but it’s worth learning the subtle differences because it can impact your agent selection.
Exclusive Insurance Agents
These agents normally can only provide a single company’s rates like Allstate and State Farm. Exclusive agents cannot compare rates from other companies so always compare other rates. These agents receive a lot of sales training on their company’s products and that enables them to sell even at higher rates. Some people will only use the same agent mainly due to the brand and strong financial ratings.
Shown below is a short list of exclusive agencies in Portland who may provide you with rate quotes.
- State Farm: Rick Hennessy
6335 SW Capitol Hwy – Portland, OR 97239 – (503) 245-9345 – View Map - Ricky Hayter – State Farm Insurance Agent
7112 NE Sandy Blvd – Portland, OR 97213 – (503) 253-9315 – View Map - Allstate Insurance: Peggy Romero
7825 SE Foster Rd – Portland, OR 97206 – (503) 255-7828 – View Map
Independent Agents
Independent insurance agents are appointed with more than one company so they can quote policies through many different auto insurance companies and find the cheapest auto insurance rates. If premiums increase, your agent can switch companies and you don’t have to find a new agent. When shopping rates, you will definitely want to get insurance quotes from independent agents to maximize your price options. Most can insure with mutual insurance companies who may have lower rates.
Listed below are independent insurance agencies in Portland that can give you comparison quotes.
- WelPland Insurance, SE Portland and Clackamas County
5845 SE 82nd Ave – Portland, OR 97266 – (503) 777-5406 – View Map - Stamm Stuart Bybee Insurance
16455 SE Division St – Portland, OR 97236 – (971) 254-1148 – View Map - Matthew K Barnett Agency
3332 N Lombard St – Portland, OR 97217 – (503) 285-2546 – View Map
Coverage specifics
Knowing the specifics of your car insurance policy aids in choosing which coverages you need at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and coverage can change by endorsement.
Liability auto insurance – This will cover damages or injuries you inflict on other people or property. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 25/50/20 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and property damage coverage for $20,000.
Liability coverage pays for things such as funeral expenses, medical services and loss of income. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford. Oregon state law requires minimum liability limits of 25/50/20 but you should think about purchasing more coverage.
The chart below demonstrates why the minimum limit may not be high enough to adequately cover claims.
Uninsured/Underinsured Motorist (UM/UIM) – This provides protection from other drivers when they are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries as well as damage to your Lexus LC 500.
Because many people only carry the minimum required liability limits (which is 25/50/20), their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family.
Comprehensive insurance – Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive coverage protects against claims such as vandalism, theft, hail damage and falling objects. The most you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance kick in for bills such as hospital visits, EMT expenses, chiropractic care, nursing services and rehabilitation expenses. They are often used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Coverage applies to you and your occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not universally available but can be used in place of medical payments coverage
Collision coverage – Collision coverage will pay to fix damage to your LC 500 from colliding with an object or car. A deductible applies then your collision coverage will kick in.
Collision insurance covers claims such as hitting a parking meter, crashing into a building, hitting a mailbox, crashing into a ditch and rolling your car. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. Another option is to raise the deductible on your LC 500 in order to get cheaper collision rates.
Oregon car insurance company ratings
Buying coverage from the best car insurance company is hard considering how many companies provide coverage in Portland. The ranking data shown below could help you choose which car insurance companies to look at shopping prices with.
Top 10 Portland Car Insurance Companies Ranked by Claims Service
- State Farm
- Esurance
- AAA Insurance
- Progressive
- Liberty Mutual
- GEICO
- Allstate
- Titan Insurance
- The Hartford
- Mercury Insurance
Top 10 Portland Car Insurance Companies by A.M. Best Rank
- USAA – A++
- Travelers – A++
- GEICO – A++
- State Farm – A++
- The Hartford – A+
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Mercury Insurance – A+
- Titan Insurance – A+
Cheaper insurance is out there
You just learned many ways to get a better price on Lexus LC 500 insurance in Portland. The key concept to understand is the more you quote Portland auto insurance, the better your comparison will be. You may even find the best prices are with a small local company.
Insureds who switch companies do it for any number of reasons including an unsatisfactory settlement offer, poor customer service, policy non-renewal and even being labeled a high risk driver. Regardless of your reason, switching insurance companies can be pretty painless.
While you’re price shopping online, never reduce coverage to reduce premium. Too many times, an insured dropped collision coverage and discovered at claim time that the few dollars in savings costed them thousands. The proper strategy is to find the BEST coverage at the best price, but do not skimp to save money.
Even more information can be found in these articles:
- Coverage Information (Progressive Insurance)
- Who Has Affordable Auto Insurance for a Chevrolet Equinox in Portland? (FAQ)
- Side Impact Crash Tests (iihs.org)
- Safety Tips for Teen Drivers (Insurance Information Institute)