The easiest way to find lower priced car insurance rates in Portland is to begin comparing prices regularly from companies in Oregon.
- Step 1: Take a few minutes and learn about auto insurance and the changes you can make to prevent rate increases. Many risk factors that cause rate increases like traffic violations, accidents, and your credit history can be controlled by making minor changes in your lifestyle. This article gives additional ideas to help prevent high rates and find missing discounts.
- Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only quote rates from one company like Progressive or State Farm, while independent agencies can provide prices for a wide range of insurance providers.
- Step 3: Compare the new quotes to your existing coverage and see if there is a cheaper rate in Portland. If you find better rates and buy the policy, ensure there is no coverage lapse between policies.
A key point to remember is to use the same liability limits and deductibles on each quote and and to look at as many different companies as possible. Doing this guarantees the most accurate price comparison and a complete selection of prices.
Remarkably, a study showed that most drivers in Oregon have bought car insurance from the same company for at least four years, and almost half have never compared car insurance rates at all. Many drivers in the U.S. could save an average of approximately $859 each year by just shopping around, but most just don’t grasp the benefits if they moved their coverage to a different company.
Our goal in writing this article introduce you to the best methods to compare rates. If you have insurance now, you will most likely be able to get lower rates using the tips covered below. Nevertheless, Oregon consumers should learn the way insurance companies sell online and use this information to your advantage.
Best Volvo V50 insurance rates in Oregon
The companies shown below provide price quotes in Portland, OR. If multiple companies are listed, we suggest you get rates from several of them in order to get a fair rate comparison.
Insurance coverage details
The premium information below covers different rate quotes for Volvo V50 models. Learning more about how policy premiums are formulated can aid in making decisions on the best policy coverages.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|V50 AWD T5 R-Design||$214||$468||$300||$18||$90||$1,090||$91|
|Get Your Own Custom Quote Go|
Prices based on married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Oregon minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Premium amounts do not factor in zip code location which can change coverage rates significantly.
The illustration below illustrates how your deductible choice and can change Volvo V50 insurance costs for different age groups of insureds. Data assumes a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.
Rate increases following a ticket or accident
The diagram below highlights how traffic violations and at-fault fender-benders can increase Volvo V50 auto insurance costs for different ages of insureds. The prices are based on a married male driver, full coverage, $100 deductibles, and no discounts are factored in.
Does full coverage make sense?
The diagram below illustrates the comparison of Volvo V50 insurance prices with full coverage and liability only. The prices are based on no claims or driving violations, $100 deductibles, drivers are not married, and no discounts are applied.
When to drop comprehensive and collision coverage
There is no set guideline for dropping comp and collision coverage, but there is a general school of thought. If the yearly cost of full coverage is more than about 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your Volvo V50 settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company would pay you is $7,000 after paying your policy deductible. If it’s costing you more than $700 a year for physical damage coverage, then it might be time to buy liability only.
There are a few cases where buying only liability insurance is not financially feasible. If you have an outstanding loan on your vehicle, you are required to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should maintain full coverage.
Cheap Portland auto insurance rates with discounts
Insuring your vehicles can cost a lot, but you may be missing some discounts that can help lower your rates. Certain credits will be shown at the time of quoting, but some need to be specifically requested before being credited.
- Driver’s Education for Students – Reduce the cost of insurance for teen drivers by having them successfully complete driver’s ed class in high school.
- Discount for Life Insurance – Some auto insurance companies give a discount if you purchase auto and life insurance together.
- Early Signing – A few larger companies give discounts for signing up prior to your current V50 insurance policy expiration. The savings is around 10%.
- Anti-theft System – Cars and trucks equipped with anti-theft or alarm systems can help prevent theft and will save you 10% or more on V50 insurance in Portland.
- Passive Restraints and Air Bags – Factory options such as air bags or automatic seat belts can get savings up to 30%.
- Senior Citizen Rates – If you qualify as a senior citizen, you could receive a small decrease in premiums.
- Paperless Signup – Some larger companies give back up to $50 for buying a policy and signing up over the internet.
- Discounts for New Vehicles – Buying a new car model can be considerably cheaper since newer vehicles are generally safer.
Discounts save money, but please remember that most of the big mark downs will not be given to your bottom line cost. Most only cut the price of certain insurance coverages like liability, collision or medical payments. So when it seems like having all the discounts means you get insurance for free, company stockholders wouldn’t be very happy.
The information below illustrates the difference between Volvo V50 premium costs with and without discounts. The costs are based on a male driver, no claims or driving citations, Oregon state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, homeowner, marriage, safe-driver, and claim-free discounts applied.
Companies and some of the discounts can be found below.
- Farmers Insurance policyholders can earn discounts including distant student, good student, early shopping, alternative fuel, pay in full, business and professional, and bundle discounts.
- State Farm may include discounts for Steer Clear safe driver discount, accident-free, Drive Safe & Save, good student, good driver, and driver’s education.
- Liberty Mutual may have discounts that include good student, hybrid vehicle, newly retired, safety features, multi-car, and exclusive group savings.
- MetLife offers premium reductions for multi-policy, good driver, defensive driver, good student, accident-free, claim-free
- Progressive discounts include continuous coverage, multi-vehicle, homeowner, online signing, online quote discount, good student, and multi-policy.
If you are trying to find affordable Volvo V50 insurance quotes, ask all companies you are considering which discounts you qualify for. Some of the earlier mentioned discounts might not be offered in Portland. To locate providers that offer discounts in Portland, follow this link.
Should I talk to an insurance agency?
Some people prefer to talk to a local agent and that is a smart decision One of the benefits of price shopping on the web is you may find cheap auto insurance rates and still have a local agent. Putting coverage with local insurance agents is definitely important in Portland.
For easy comparison, once you complete this short form, your insurance coverage information is transmitted to insurance agents in Portland who will give competitive quotes to get your business. There is no need to even leave your home due to the fact that quote results will go to you instantly. You can find the lowest rates and an insurance agent to talk to. If you have a need to get a comparison quote from one company in particular, don’t hesitate to navigate to their website and fill out the quote form the provide.
Finding a good insurance company is decision based upon more than just the price. Here are some questions you might want to ask.
- Is the quote a firm price?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- Do you qualify for any additional discounts?
- Does the company use OEM repair parts?
- Will the company cover a rental car if your car is getting fixed?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Is there any savings for paying the full premium?
- Does the company allow you to choose your own collision repair facility?
How much auto insurance do I need?
Keep in mind that when it comes to choosing adequate coverage, there is no single plan that fits everyone. Everyone’s situation is unique so your insurance needs to address that.
Here are some questions about coverages that could help you determine whether your personal situation could use an agent’s help.
- Does liability extend to a camper or trailer?
- Is there coverage for injuries to my pets?
- Should I bundle my homeowners policy with my auto?
- Does coverage extend to Mexico or Canada?
- How many claims can I have before being canceled?
- How high should deductibles be on a Volvo V50?
- Am I better off with higher deductibles on my Volvo V50?
- Do I need replacement cost coverage on my Volvo V50?
- Does coverage extend to my business vehicle?
- Is borrowed equipment or tools covered if stolen or damaged?
If you can’t answer these questions but you think they might apply to your situation then you might want to talk to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies.
Auto insurance coverages 101
Understanding the coverages of a auto insurance policy can help you determine appropriate coverage for your vehicles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. Shown next are typical coverage types found on the average auto insurance policy.
Coverage for collisions
Collision coverage pays to fix your vehicle from damage resulting from colliding with another car or object. You will need to pay your deductible and then insurance will cover the remainder.
Collision can pay for claims such as colliding with a tree, rolling your car, scraping a guard rail, damaging your car on a curb and hitting a parking meter. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. You can also choose a higher deductible on your V50 in order to get cheaper collision rates.
Uninsured Motorist or Underinsured Motorist insurance
This gives you protection from other drivers when they do not carry enough liability coverage. Covered losses include hospital bills for your injuries and also any damage incurred to your Volvo V50.
Because many people have only the minimum liability required by law (25/50/20), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Usually the UM/UIM limits are set the same as your liability limits.
Comprehensive coverage (or Other than Collision)
This coverage pays for damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as damage from flooding, hitting a deer and damage from getting keyed. The highest amount your auto insurance company will pay is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.
Insurance for medical payments
Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses such as rehabilitation expenses, pain medications and surgery. They are used to fill the gap from your health insurance policy or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP coverage is only offered in select states and gives slightly broader coverage than med pay
Liability insurance provides protection from damages or injuries you inflict on other people or property in an accident. It protects you against claims from other people. Liability doesn’t cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/20 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a limit of $20,000 paid for damaged property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount without having the split limit caps.
Liability coverage protects against claims such as medical services, loss of income, emergency aid and repair costs for stationary objects. How much liability coverage do you need? That is a decision to put some thought into, but buy as large an amount as possible. Oregon state minimum liability requirements are 25/50/20 but it’s recommended drivers buy higher limits.
The chart below demonstrates why low liability limits may not be enough coverage.
Keep this in mind when shopping around
Cost effective Volvo V50 insurance can be purchased on the web as well as from insurance agents, so you need to quote Portland auto insurance with both so you have a total pricing picture. Some insurance companies may not provide the ability to get a quote online and many times these smaller providers work with independent agents.
When trying to cut insurance costs, it’s not a good idea to skimp on coverage in order to save money. There have been many situations where drivers have reduced physical damage coverage only to regret they didn’t purchase enough coverage. Your aim should be to buy enough coverage at a price you can afford, but do not sacrifice coverage to save money.
For more information, feel free to visit the articles below:
- New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
- How Much are Portland Car Insurance Rates for Good Drivers? (FAQ)
- Who Has Affordable Portland Auto Insurance Quotes for Lyft Drivers? (FAQ)
- What Auto Insurance is Cheapest for Homeowners in Portland? (FAQ)
- How Much is Portland Auto Insurance for Police Officers? (FAQ)
- What Car Insurance is Cheapest for a Ford F-150 in Portland? (FAQ)
- Who Has the Cheapest Auto Insurance for Inexperienced Drivers in Portland? (FAQ)
- What Car Insurance is Cheapest for a Nissan Sentra in Portland? (FAQ)
- Who Has the Cheapest Car Insurance for Drivers with Bad Credit in Portland? (FAQ)
- Rental Car Insurance Tips (Insurance Information Institute)
- A Tree Fell on Your Car: Now What? (Allstate)
- Parking Tips to Reduce Door Dings (State Farm)
- Steps to Take After an Auto Accident (Insurance Information Institute)