Car Insurance in Oregon: What You Need to Know About Coverage and Costs
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If you own or drive a vehicle in Oregon, you must carry auto insurance that meets the minimum coverage auto insurance requirements. Operating a car without insurance can result in unwanted fines, penalties, and suspension of your driving privileges. No driver wants that!
Fortunately, finding car insurance in Oregon isn't hard. You can start by understanding Oregon's minimum auto insurance coverage requirements and determining the types of insurance that best meet your needs. Learn how to find cheap car insurance in Oregon in this guide.
Gather Your Driver and Vehicle Information
Whenever you request insurance quotes from an Oregon provider, you'll be asked to provide some information about the drivers on your policy and the vehicles you operate. Information you may need to provide includes:
- Each driver's name, address, contact details, and birthdate
- Vehicle make and model
- Vehicle identification number (VIN)
- How frequently you drive the vehicle
- The insurance coverage you need
The information you provide helps insurers decide on your premium rates.
Oregon's Minimum Car Insurance Requirements
Oregon requires all residents who operate a vehicle to carry several types of auto insurance. These are the minimum coverage requirements for Oregon car insurance.
Liability Coverage
Liability coverage reimburses others harmed in an accident for which you're liable. It can pay for any victims' medical expenses and repairs to their vehicle or other property.
You legally must carry Oregon liability insurance with a minimum of 25/50/20, meaning:
- $25,000 for bodily injuries for one individual in a single accident
- $50,000 for total bodily injury liability per accident
- $20,000 for property damage sustained in an accident
Personal Injury Protection (PIP)
Oregon requires drivers to carry $15,000 of personal injury protection (PIP). PIP pays for medical expenses, lost wages, and care costs if you're injured in an accident, regardless of who is at fault. Your PIP policy may also cover similar costs for passengers in the vehicle with you at the time of the accident.
Uninsured Motorist Coverage
Oregon law requires all drivers to carry proof of insurance that meets the state-mandated minimums. However, if you're unfortunate enough to get in an accident with a driver without insurance, you can rely on your uninsured motorist coverage. Your own policy will pay for medical expenses, lost wages, and pain and suffering from the accident.
Review the insurance requirements of your state:
Understand Additional Coverage Options
If you finance or lease your vehicle, your contract may require you to carry additional coverages. Drivers who own their vehicle outright can purchase additional insurance for peace of mind.
Collision Coverage
Collision insurance pays to repair your vehicle if you're responsible for an accident or crash into a fixed object like a curb or pole. The insurance company will ask you to set a deductible if you purchase collision insurance. You'll first pay the deductible if you must file a claim against your policy to repair your vehicle.
Comprehensive Coverage
Comprehensive insurance pays for repairs if your vehicle is damaged by circumstances outside your control. It can cover theft, vandalism, weather-related damage, and fire. As with collision insurance, you set a deductible to pay if you need to file a comprehensive insurance claim.
Gap Insurance
In the worst-case scenario that your car is totaled with no option for repair, gap insurance can pay the difference between the vehicle's book value and the remaining amount on your loan.
For example, say you total your vehicle worth $10,000. However, you still owe $15,000 on your auto loan. Rather than you having to pay the $5,000 difference out of pocket, your gap insurance policy will cover it. This way, you're not stuck making payments on a vehicle that's no longer drivable.
Tips for Reducing Insurance Premiums
An auto policy can be expensive, but there are ways you can lower your rates — or even find the cheapest car insurance in Oregon.
Maintain a Clean Driving Record
Insurance providers consider your driving history when setting policy rates. Avoiding accidents and driving infractions can help keep your costs low.
Opt for Higher Deductibles
If you purchase collision or comprehensive coverage, your insurer will let you choose a deductible. The deductible can range from $0 to $1,000 or more. A lower deductible means you'll pay less if you need to file a claim, but your policy premiums may be more expensive. A higher deductible usually means a cheaper policy, but you'll need to pay a higher out-of-pocket cost for a comprehensive or collision claim.
Bundle Car Insurance With Home or Renter’s Insurance To Save
Many insurance companies offer special discounts for auto insurance customers who also purchase a home or renter's insurance policy. If you own or rent a house, looking into your bundling options makes sense.
Look for Potential Discounts
Insurance providers may offer a variety of ways to lower your policy costs. Some examples of discounts you may find include:
- Payment Savings: Paying your policy in full, opting for paperless communications, and setting up automatic electronic funds transfer (EFT) may yield savings.
- Student Discounts: If you're a student, you may qualify for savings if you maintain good grades or store your car away from the university.
- Usage-Based Savings: Some insurers offer lower rates for clients who enroll in driver monitoring apps that track mileage and driving behaviors.
- Safety Features: If your car has certain safety features, such as daytime running lights or anti-theft devices, your insurer may lower your insurance premiums.
Next time you shop for auto insurance in Oregon, ask providers whether they offer discounts. Be sure to let them know if you believe you qualify.
Select the Best Policy for Your Needs
While Oregon law requires you to carry auto insurance that meets the minimum requirements, extending your policy coverages or adding comprehensive, collision, or gap insurance can give you peace of mind if an accident occurs. If you finance or lease your vehicle, be sure to read your agreement and purchase insurance that aligns with or exceeds the lender's requirements.
Shop Around for the Best Quotes
To get the best policy for your money, it's smart to compare car insurance quotes. Getting quotes from several auto insurance companies allows you to compare rates and features so you can select a policy that meets all your needs.
EverQuote takes the work off your shoulders with a streamlined quote process. When you sign up with our service, you'll receive a comparison of insurance options from multiple Oregon insurers. Our free service can help you find an affordable policy. Start today with EverQuote!