It’s safe to assume that insurance companies want to prevent you from shopping around. Consumers who shop around annually will, in all likelihood, buy a different policy because they have a good chance of finding more affordable rates. A recent insurance study revealed that drivers who faithfully checked for cheaper rates saved on average $72 a month as compared to drivers who don’t regularly compare prices.
If finding the best rates on auto insurance in Portland is the reason you’re here, learning how to choose a company and compare insurance can help make the process easier and more efficient.
Really, the only way to get cheaper car insurance rates in Portland is to start doing a yearly price comparison from companies in Oregon.
- Get an understanding of what is in your policy and the modifications you can make to drop your rates. Many things that result in higher prices such as traffic violations and a poor credit score can be controlled by making minor changes in your lifestyle.
- Request rate estimates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from a single company like GEICO and Allstate, while independent agencies can provide prices from multiple insurance companies. Find a Portland insurance agent
- Compare the new quotes to your existing policy and see if you can save money. If you find better rates, ensure coverage does not lapse between policies.
- Tell your current agent or company of your intention to cancel your current policy and submit a completed application and payment to the new insurer. Once the application is submitted, keep the new certificate verifying coverage in an accessible location in your vehicle.
A tip to remember is to use similar limits and deductibles on every price quote and and to get rates from as many car insurance companies as possible. This guarantees an accurate price comparison and a thorough selection of prices.
Quoting and comparing affordable insurance coverage in Portland is easy if you know what you’re doing. Just about everyone who is looking for cheaper insurance will most likely find a lower price. But Oregon car owners do need to know how big insurance companies price insurance differently because rates are impacted by many factors.
Specific coverages for a Subaru WRX
Understanding the coverages of your policy can help you determine appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement. Below you’ll find the usual coverages found on the average auto insurance policy.
This coverage covers damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims like damage from a tornado or hurricane, hail damage, hitting a bird and hitting a deer. The maximum payout a auto insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Coverage for medical payments
Coverage for medical payments and/or PIP pay for short-term medical expenses like funeral costs, pain medications and doctor visits. They are utilized in addition to your health insurance plan or if you do not have health coverage. It covers not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage
Uninsured and underinsured coverage
This protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants as well as damage to your Subaru WRX.
Since a lot of drivers only purchase the least amount of liability that is required (which is 25/50/20), it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family. Frequently these coverages are set the same as your liability limits.
Auto liability insurance
This will cover damages or injuries you inflict on other’s property or people in an accident. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 25/50/20 which means $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and a limit of $20,000 paid for damaged property. Alternatively, you may have one number which is a combined single limit which limits claims to one amount without having the split limit caps.
Liability can pay for things like structural damage, court costs and emergency aid. The amount of liability coverage you purchase is up to you, but buy higher limits if possible. Oregon requires minimum liability limits of 25/50/20 but drivers should carry more coverage.
The illustration below shows why buying minimum limits may not be enough.
Collision coverage protection
This coverage will pay to fix damage to your WRX resulting from colliding with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for claims such as colliding with another moving vehicle, crashing into a ditch and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to bump up the deductible on your WRX in order to get cheaper collision rates.
Cheaper insurance in Portland is possible from both online companies in addition to many Portland insurance agents, so you should be comparing quotes from both to have the best rate selection. Some insurance companies may not have price quotes online and many times these small, regional companies provide coverage only through local independent agencies.
When buying insurance coverage, it’s a bad idea to sacrifice coverage to reduce premiums. In too many instances, consumers will sacrifice physical damage coverage and discovered at claim time that the savings was not a smart move. Your strategy should be to get the best coverage possible at the best cost, but don’t skip important coverages to save money.
To learn more, link through to these articles:
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
- Who Has the Cheapest Portland Car Insurance Quotes for Used Cars? (FAQ)
- Who Has Cheap Portland Auto Insurance Quotes for a Ford Edge? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Drivers with a DUI in Portland? (FAQ)
- Who Has Cheap Portland Auto Insurance Quotes for College Graduates? (FAQ)
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- Safety Tips for Teen Drivers (Insurance Information Institute)