Car insurance in Oregon costs an average of $66 per month for a minimum coverage policy and an average of $136 monthly for full coverage.
Types of Car Insurance Required in Oregon
Bodily injury liability insurance of at least $25,000 per person and $50,000 per accident. Bodily injury liability insurance pays for the medical expenses of other drivers in accidents you cause. It can cover things like hospital fees, loss of income, pain and suffering, and funeral costs.
Property damage liability of at least $20,000. Property damage liability insurance pays for other drivers' property damage in accidents you cause. It can cover things like vehicle repairs or damage to stationary objects like houses or fences.
Uninsured and underinsured motorist insurance of at least $25,000 per person and $50,000 per accident. Uninsured/underinsured motorist coverage pays for your expenses after an accident caused by a driver who doesn't have any car insurance or does not have enough insurance to cover all of the damage they caused.
Personal injury protection of at least $15,000. Personal injury protection pays for medical expenses, lost wages, and household expenses after a you or your passengers are injured in a car accident.
Premiums are representative of a 45-year-old good driver with a minimum coverage policy.
Oregon is similar to the majority of states in that it requires all drivers to have at least a certain amount of car insurance. Virginia and New Hampshire, on the other hand, are the only states that do not require drivers to carry traditional auto insurance.
If Oregon drivers do not purchase at least the minimum amounts of car insurance coverage required by Oregon law, they can face penalties for driving without insurance.
In addition, drivers should also consider purchasing other types of car insurance in order to better protect themselves. For instance, both collision insurance and comprehensive insurance cover damage to the policyholder’s car. You will likely need these types of insurance if your vehicle is financed.
Car insurance in Oregon is $67 per month for minimum coverage and $146 per month for full coverage, on average. The cheapest insurance companies in Oregon are Geico, Country Financial and State Farm, and getting quotes from several companies can help you find the best deal.
The average cost of car insurance in Oregon is 11% higher than the national average auto insurance premium, and Oregon ranks 38 out of 50 for the most affordable car insurance rates in the U.S.. There are several factors that affect how much you’ll pay for car insurance in Oregon, including your driving record, age, location, the amount of coverage that you purchase, and the insurance company you buy it from.
Finally, it’s worth noting that car insurance premiums in Oregon are average, compared to the cost of coverage in neighboring states like Washington and California. You can find more details in the table below.
Cost of Car Insurance in Oregon vs. Neighboring States
Full coverage insurance in Oregon is usually defined as a policy that provides more than the state’s minimum liability coverage, which is $25,000 in bodily injury coverage per person, up to $50,000 per accident, and $20,000 in property damage coverage. Full coverage in Oregon also includes optional collision and comprehensive insurance… read full answer. As a result, full coverage insurance costs an average of $1,755 per year in Oregon, while a state minimum policy costs $807 per year.
If you can’t afford to repair or replace your car after an accident, collision and comprehensive are important coverage types—even if they’re not required. Collision insurance covers repair or replacement costs if you are in an accident, drive into an object, or flip your car. Comprehensive insurance covers repair or replacement costs if your car is damaged by falling objects, natural disasters, floods, fires, theft, vandalism, or animals. Full coverage insurance costs an average of $1,755 per year in Oregon, while a state minimum policy costs $807 per year. Lenders usually require collision and comprehensive in addition to the insurance you must have under Oregon law when you finance a car.
Most people should also choose higher liability coverage limits than what is required by Oregon law. If you cause an accident and your liability limits don’t cover the whole bill, you are still personally responsible for the rest. In the end, “full coverage” means having the right amount of coverage to protect your assets in a worst-case scenario.
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