In the state of Oregon, residents enjoy perks that include breathtaking scenery of the Pacific coast, the convenience of not having to pay sales tax, and insurance rates for home and auto that fall below the national average.
Even with affordable averages, most drivers and homeowners opt to add additional coverage or increasing limits to their policies, which better protects them but can drive up rates. There are a number of factors that go into calculating insurance costs, and there are an equal number, if not more, ways to save on your Oregon insurance rates if you know where to look.
Oregon Auto Insurance
If you want to drive in Oregon, you have to have insurance, with minimum requirements that include not only liability, but personal injury protection and uninsured motorist protection as well. Minimum coverage amounts include:
- Bodily Injury Liability: $25,000/person and $50,000/accident
- Property Damage Liability: $20,000
- Personal Injury Protection: $15,000
- Uninsured Motorist: $25,000/person and $50,000/accident
Many drivers will also want to include collision and comprehensive insurance to cover costs to their own vehicle. Luckily, there are many discounts available to Oregon drivers:
- Safe driver. If you have a consistently clean driving record, you can save on car insurance because you pose a lower risk than some.
- Good student. High school and college students who maintain B averages can enjoy lower rates as well.
- Multiple car. If you need to insure more than one vehicle in your home, most companies will give you a discount for that.
- Professional discounts. Certain professions, including military, firefighters, and police officers are often eligible for substantial discounts on their Oregon insurance rates.
Oregon Insurance for Homeowners
The average Oregon homeowners insurance policy is $502, much less than the national average of $804. But additional savings are always welcome, and there are many available to homeowners:
- Good credit. Insurance companies frequently associate good credit with a low risk lifestyle, and will give you discounts on your insurance.
- Protective devices. Lowering your risk for theft and break-ins by installing a burglar alarm or deadbolt locks can also lower your rates.
- Multiple policies. Insuring your car with the same company as your home can save you up to 10%.
Comparing Oregon Insurance Rates
Because rates can vary widely with each company, it pays to shop around for the best prices on your Oregon insurance. Localinsurance.com is an excellent resource for finding information on all types of insurance, then getting multiple Oregon insurance rates for your area. It's free, easy, and takes the work out of shopping around for the best rate.
