Finding cheap insurance is confusing at best, and finding out which companies have the cheapest auto insurance rates for drivers with good credit will require even more diligence.
Each company uses their own method for determining rates in each state, so we need to take a look at the auto insurance companies that tend to have lower prices in Portland. It’s important to know that Oregon auto insurance rates are impacted by many factors that may substantially change the policy price. Events like turning one year older, becoming a homeowner, or getting into an accident can cause premium changes that may make certain companies cheaper than before.
Best Cheap Insurance Rates for High Credit
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Grange | $715 |
| 2 | Oregon Mutual | $828 |
| 3 | Country | $856 |
| 4 | Travelers | $952 |
| 5 | USAA | $970 |
| 6 | State Farm | $1,040 |
| 7 | Amica | $1,159 |
| 8 | Mutual Enumclaw | $1,176 |
| 9 | California Casualty | $1,182 |
| 10 | GEICO | $1,190 |
| 11 | Allied | $1,203 |
| 12 | Progressive | $1,272 |
| 13 | 21st Century | $1,324 |
| 14 | MetLife | $1,327 |
| 15 | American Family | $1,459 |
| 16 | Encompass | $1,558 |
| 17 | Allstate | $1,654 |
| 18 | Farmers | $1,994 |
| 19 | Safeco | $2,150 |
| 20 | Liberty Mutual | $2,508 |
| Find Your Rate Go | ||
Grange normally has some of the lowest car insurance rates in Portland at around $715 each year. This is $763 less than the average premium paid by Oregon drivers of $1,478. Oregon Mutual, Country, Travelers, and USAA are also some of the most economical Portland, OR insurance companies.
As shown in the rates above, if you currently have a policy with Country and switched to Grange, you could earn an annual savings of in the vicinity of $141. Oregon drivers with Travelers could save as much as $237 a year, and USAA policyholders might lower prices by up to $255 a year.
Understand that those policy prices are averages for all drivers and vehicles and and are not figured with an exact zip code location for drivers with good credit. So the car insurance company that can offer the best rates for your situation may not even be in the top 22 companies in the list above. That illustrates why you need to get car insurance quotes using your own personalized driver profile and vehicle information.
The vehicle you are insuring is probably the largest consideration when shopping for the best auto insurance for drivers with good credit. Vehicles with high performance, a lack of safety features, or an increased likelihood of liability claims will cost more to insure than more modest models. The data below shows insurance prices for a selection of the cheaper automobiles to insure in Oregon.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Toyota Prius | $1,560 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,579 |
| Ford F-150 STX Super Cab 4WD | $1,611 |
| Honda Accord LX 4-Dr Sedan | $1,614 |
| GMC Sierra SLE Regular Cab 2WD | $1,665 |
| Toyota RAV4 Sport 2WD | $1,671 |
| Ford Explorer Limited 2WD | $1,697 |
| Chevrolet Malibu LT | $1,703 |
| Ford Escape XLS 4WD | $1,724 |
| Hyundai Elantra GLS Touring Station Wagon | $1,729 |
| Honda CR-V LX 4WD | $1,724 |
| Toyota Camry SE | $1,751 |
| Jeep Grand Cherokee Limited 4WD | $1,784 |
| Chevrolet Silverado LS Extended Cab 2WD | $1,786 |
| Chevrolet Impala LS | $1,875 |
| Compare Cheap Rates Go | |
Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oregon minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Premium amounts do not factor in vehicle location which can decrease or increase coverage rates significantly.
Based on these rates, we can presume that vehicles like the Toyota Prius, Jeep Wrangler, and Ford F-150 are most likely going to be a few of the less-costly vehicles to insure for financially responsible drivers.
The example below highlights how deductible choice can impact insurance costs when getting quotes for cheap insurance for drivers with good credit. The rate quotes are based on a single male driver, full physical damage coverage, and no discounts are taken into consideration.
As shown above, a 30-year-old driver could lower rates by $400 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $600 by changing to a $1,000 deductible. Even younger insureds, like the 20-year-old category, could save as much as $1,186 annually just by choosing higher deductibles. When choosing a higher deductible, it is essential to have enough in a savings account to enable you to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Rate comparison of full coverage and liability-only
Saving money on auto insurance is the goal of most vehicle owners, and one common way to buy cheaper insurance for drivers with good credit is to not pay for full coverage. The chart below compares car insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums assume no driving violations, no at-fault accidents, $100 deductibles, single status, and no other discounts are factored in.
If the expense is averaged for all age categories, physical damage coverage on your policy costs an additional $2,042 per year over having just liability coverage. Lot’s of drivers question if you should buy full coverage. There is no set guideline for eliminating comp and collision coverage, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then you might consider buying liability only.
For example, let’s say your vehicle’s book value is $8,500 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $7,500 after the deductible is paid. If it’s costing you more than $750 a year for physical damage coverage, then it might be time to consider dropping full coverage.
Last year’s bargain might be this year’s rip off
Portland, OR auto insurance rates are influenced by many factors that may substantially change the price you pay. Simply getting older, moving to a different location, or getting caught speeding may cause policy rate changes that may make certain companies more affordable than the competition.
Not only may your situation change, but car insurance companies modify pricing as needed in order to maintain liquidity for claims. A period of increased losses may result in more expensive prices, while a better loss history can produce more affordable Portland car insurance rates.
For example, the chart below compares the cheapest car insurance in Portland, OR for a 40-year-old male driver with a good driving record, no prior claims, and a good credit history. When quoting prices based on his current risk profile, Grange may have the cheapest car insurance rates in Portland at $963 each year. This is $515 less than the average rate paid by Oregon drivers of $1,478. Oregon Mutual, Country, USAA, and Travelers also make the list of the most affordable Portland, OR auto insurance companies.
In this next rate comparison, we will give the driver from the first example some claims, less-than-perfect credit, and a few blemishes on his driving record. Since each company uses their own calculation to determining premium rates, comparing rates most likely will result in a new list of the cheapest car insurance companies in Portland as shown below.
Amica now has the lowest price in Portland, OR with Allied, GEICO, Mutual Enumclaw, and Oregon Mutual also being competitive. This example demonstrates why Oregon drivers need to compare many different companies when trying to find the most budget-friendly auto insurance quotes for drivers with good credit. Auto insurance prices are made up of many factors and can change without notice, so the best company six months ago may now be quite expensive.
The agents shown below can provide answers to your questions and help you determine which coverages are best, as lots of drivers aren’t clear which coverage they need and would like to have a professional recommendation when comparing insurance rates for financially responsible drivers. It’s not always easy to find the best policy yourself, so professional agents can bring satisfaction knowing your policy gives you suitable coverage if you ever need to use it.
To locate an agency closest to you, click the link at the bottom or click here to compare price quotes.
Mariko Locke – State Farm Insurance Agent
5048 SE Hawthorne Blvd a – Portland, OR 97215 – (503) 232-2444
Wix Insurance Agency
8037 SE Stark St – Portland, OR 97215 – (503) 760-6826
Nationwide Insurance: Eric L Weber Agency
4415 NE Sandy Blvd Ste 200 – Portland, OR 97213 – (503) 249-7667
Pete Zavos – State Farm Insurance Agent
8305 SE Monterey Ave #102 – Portland, OR 97086 – (503) 653-6392
Find a Portland, OR insurance agent near you
How to find the cheapest insurance for drivers with good credit
The list below shows a few money-saving suggestions that can help you buy low-cost auto insurance.
- Drive safe vehicles
- Maintain a safe distance and avoid accidents
- Insure your home and auto with the same company
- Drop full coverage on older vehicles
- Good credit scores may lower your rates
- Compare rates regularly and switch companies to save money
The last suggestion is remarkably important, as was affirmed in the prior information. Car insurance prices adjust often, so don’t be tentative to change to a new company if a lower price can be found. Many consumers stick with the same company and that’s fine, but is isn’t recommended if your bullheadedness ends up costing you lots of money. If you have a few minutes, now is a great time to compare prices and find cheaper car insurance for drivers with good credit in Portland.