Auto insurance is a necessary expense for all car owners in Oregon, but that doesn’t mean it has to be a burden on your finances. With a little bit of research and effort, you can save money and get discount auto insurance in Oregon. In this article, we’ll go over some tips and tricks to help you save money on your auto insurance premiums without sacrificing coverage.
Understand Your Coverage Needs
The first step to saving money on your auto insurance is to understand your coverage needs. Oregon law requires all drivers to carry liability insurance, which covers damages and injuries you may cause to other people and their property. The minimum coverage limits in Oregon are $25,000 for bodily injury per person, $50,000 for bodily injury per accident, and $20,000 for property damage per accident.
While these are the minimum requirements, it’s important to assess your own personal needs and risks. If you have a new or expensive car, you may want to consider additional coverage, such as collision and comprehensive insurance. Collision insurance covers damages to your own vehicle in an accident, while comprehensive insurance covers damages from other events, such as theft, vandalism, or natural disasters.
However, keep in mind that additional coverage means higher premiums. You’ll need to weigh the potential costs of an accident against the extra premiums you’ll pay for additional coverage.
Shop Around
The next step to saving money on your auto insurance is to shop around for the best rates. Every insurance company has its own pricing and underwriting guidelines, so it’s worth comparing rates from multiple companies to find the best deal.
You can start by getting quotes online or through an insurance broker. Be sure to provide accurate information about your driving record, car, and coverage needs to get the most accurate quotes.
Consider Bundling Your Insurance
If you have other insurance policies, such as homeowners or renters insurance, consider bundling them with your auto insurance. Many insurance companies offer discounts for bundling multiple policies together.
Ask About Discounts
Insurance companies offer a variety of discounts that can help you save money on your premiums. Some common discounts include:
Good driver discounts: If you have a clean driving record and no accidents or violations, you may be eligible for a good driver discount.
Multiple vehicle discounts: If you have more than one vehicle on your policy, you may be eligible for a multiple vehicle discount.
Safe driver course discounts: If you take a defensive driving course, you may be eligible for a discount on your premiums.
Good student discounts: If you’re a student with good grades, you may be eligible for a good student discount.
Low mileage discounts: If you don’t drive very often, you may be eligible for a low mileage discount.
Anti-theft device discounts: If your car has anti-theft devices, such as an alarm or tracking system, you may be eligible for a discount.
Pay-in-full discounts: If you pay your premiums in full rather than in installments, you may be eligible for a discount.
Loyalty discounts: If you’ve been with your insurance company for a certain number of years, you may be eligible for a loyalty discount.
Ask your insurance company about all of the discounts they offer and which ones you may be eligible for.
Raise Your Deductible
Your deductible is the amount you pay out of pocket before your insurance kicks in. The higher your deductible, the lower your premiums will be. However, be sure to choose a deductible that you can afford to pay if you do have an accident.
Maintain Good Credit
Your credit score can also impact your auto insurance premiums. Insurance companies use credit scores as a factor in determining your risk as a driver. Maintaining good credit can help you get lower premiums.
