Find Cheaper Honda Fit Insurance in Portland

It’s safe to assume that auto insurance companies want to keep you from shopping around. Drivers who shop around for cheaper price quotes are inclined to switch companies because there is a good probability of finding more affordable rates. A survey found that consumers who regularly compared rates saved $3,400 over four years compared to those who never compared other company’s rates.

If finding budget-friendly rates on insurance in Portland is why you’re reading this, then having a grasp of the best way to compare coverage rates can make it easier to shop your coverage around.

If you want to save money, the best way to find the cheapest price for car insurance rates is to compare prices once a year from providers in Portland.

Step 1: Spend some time learning about how companies price auto insurance and the modifications you can make to prevent high rates. Many things that increase rates like speeding and a not-so-good credit rating can be controlled by being financially responsible and driving safely. This article provides additional tips to help prevent costly coverage and find discounts that may have been missed.

Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from one company like GEICO or Farmers Insurance, while independent agencies can provide prices from multiple companies.

Step 3: Compare the new rate quotes to the price on your current policy to see if cheaper Fit coverage is available in Portland. If you find better rates and make a switch, make sure coverage is continuous and does not lapse.

An important note is that you’ll want to compare the same liability limits and deductibles on each quote and and to analyze as many carriers as you can. Doing this enables a level playing field and a complete selection of prices.

If you have a policy now, you will surely be able to find the best rates using the concepts you’re about to learn. Our goal in writing this article familiarize you with how to get online quotes and some tips to save money. But Oregon consumers do need to learn how the larger insurance companies calculate your insurance rates and use this information to your advantage.

When shopping for inexpensive Portland auto insurance quotes, there are a couple of ways to compare rate quotes from local Portland auto insurance companies. The quickest method to do a complete rate comparison consists of shopping online. When price shopping your coverage, more quotes helps locate more affordable insurance. Not every company provides Portland Fit insurance quotes online, so it’s important to compare price estimates from those companies as well.

The companies in the list below provide price comparisons in Portland, OR. To find the cheapest car insurance in OR, it’s a good idea that you compare several of them in order to get a fair rate comparison.

Insurance rate breakdown

The table shown below showcases a range of insurance costs for Honda Fit models. Having a better understanding of how insurance quotes are calculated is important for making decisions on the best policy to buy.

Data rating is based on single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Oregon minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Rate information does not factor in vehicle garaging location which can influence premiums substantially.

Higher deductibles save money

One frequently asked question is how high should your deductibles be. The data tables below illustrate the differences in premium rates between high and low comp and collision deductibles. The first rate estimation uses a $250 deductible for comp and collision and the second pricing table uses a $500 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Oregon minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Premium amounts do not factor in garaging location in Portland which can impact coverage prices substantially.

Based on this data, using a $250 deductible would cost the average driver about $12 more each month or $144 for a full year than requesting the higher $500 deductible. Since you would have to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you go more than 21 months between claim filings, you would come out ahead if you opt for a higher deductible.

An important thing to remember is that increasing deductibles to save money results in having to pay to pay more out-of-pocket when you have a physical damage claim. That will require enough money put aside in the event you have to pay the deductible to have repairs made.

The diagram below illustrates how your choice of deductibles and can affect Honda Fit insurance costs for different age groups. The information is based on a single male driver, full coverage, and no policy discounts are applied.

Car insurance rates are higher with tickets and accidents

The chart below shows how violations and accident claims can increase Honda Fit annual premium costs for each age group. The premiums are based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are factored in.

Cost comparison with and without full coverage

The illustration below visualizes the comparison of Honda Fit insurance rates with liability coverage only compared to full coverage. The data is based on no driving violations, no at-fault accidents, $500 deductibles, drivers are single, and no other discounts are factored in.

Should you buy full coverage or liability only?

There is no written rule that works best for making the decision to drop comp and collision coverage, but there is a general guideline. If the yearly cost for physical damage coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.

For example, let’s pretend your Honda Fit book value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $5,000 after the policy deductible has been paid. If you are paying in excess of $500 a year for your policy with full coverage, then you may want to consider only buying liability coverage.

There are some situations where dropping physical damage coverage is not a good idea. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should keep full coverage.

Verify you’re receiving every discount

Buying auto insurance is not cheap, but you might be missing out on some discounts that you may not even know about. A few discounts will automatically apply at the time of purchase, but once in a while a discount must be asked for before being credited.

• Distant Student Discount – Any of your kids who are attending college and do not have access to a covered vehicle could get you a discount.
• Responsible Driver Discount – Accident-free drivers can save up to 40% or more on their Portland auto insurance quote than less cautious drivers.
• Renewal Discounts – A few insurance companies allow discounts for buying a new policy before your current Fit insurance policy expires. You can save around 10% with this discount.
• Sign Online – Certain larger companies will give a small break for buying a policy and signing up on the web.
• Good Grades Discount – Performing well in school can earn a discount of 20% or more. The discount lasts well after school through age 25.
• Payment Discounts – If you can afford to pay the entire bill rather than paying in monthly installments you can actually save on your bill.
• No Claims – Drivers with accident-free driving histories pay much less as compared to drivers who are more careless.
• Anti-lock Brake System – Cars with ABS braking systems or traction control have fewer accidents so companies give up to a 10% discount.

As a footnote on discounts, most discount credits are not given to all coverage premiums. Most cut individual premiums such as comp or med pay. So even though they make it sound like you would end up receiving a 100% discount, it just doesn’t work that way.

The example below illustrates the difference between Honda Fit car insurance costs with and without discounts applied to the premium. The data is based on a female driver, no claims or violations, Oregon state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, claim-free, safe-driver, multi-car, and marriage discounts applied.

Companies that may offer policyholders these discounts include:

• 21st Century
• State Farm
• AAA
• Liberty Mutual
• Progressive

If you are trying to find cheaper Portland auto insurance quotes, ask all companies you are considering the best way to save money. Some of the earlier mentioned discounts may not apply in Portland. To see a list of providers with discount auto insurance rates in Portland, click here.

Three reasons car insurance is important

Despite the high cost, car insurance serves a purpose in several ways.

First, just about all states have minimum liability requirements which means you are required to carry specific minimum amounts of liability coverage in order to get the vehicle licensed. In Oregon these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.

Second, if your Fit has a lienholder, almost every bank will make it a condition of the loan that you have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the bank may insure your Honda at a more expensive rate and require you to fork over for the expensive policy.

Third, car insurance protects both your Honda Fit and your personal assets. It also can pay for medical bills for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, also covers legal expenses if you cause an accident and are sued. If your car is damaged in a storm or accident, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.

The benefits of insuring your car are definitely more than the cost, particularly for liability claims. According to a survey of 1,000 drivers, the average driver is overpaying more than $850 per year so you should quote and compare rates each time the policy renews to help ensure money is not being wasted.

Auto insurance is unique, just like you

Always remember that when buying adequate coverage for your vehicles, there is no single plan that fits everyone. Everyone’s situation is unique and your policy should reflect that.
These are some specific questions can aid in determining whether or not you might need an agent’s assistance.

• Is there coverage for injuries to my pets?
• Who does medical payments coverage extend to?
• Does medical payments coverage apply to all occupants?
• When should I remove comp and collision on my Honda Fit?
• Does my Honda Fit qualify for pleasure use?
• What is the minimum liability in Oregon?
• Do I have coverage if I rent a car in Mexico?

If you don’t know the answers to these questions, you may need to chat with a licensed agent. To find an agent in your area, complete this form or you can also visit this page to select a carrier

Compare prices but buy from a local neighborhood Portland car insurance agent

Certain consumers still like to buy from a licensed agent and doing that can be a smart decision A nice benefit of comparing rates online is that you can obtain cheap car insurance rates and still have an agent to talk to.

After completing this form (opens in new window), the coverage information is sent to insurance agents in Portland who will give you bids for your business. There is no reason to leave your house since rate quotes are delivered to you directly. Get lower rates AND a local agent. If you need to get a comparison quote for a specific company, just search and find their rate quote page and give them your coverage information.

Finding the right insurer shouldn’t rely on just the quoted price. The following questions are important to ask.

• Are they giving you every discount you deserve?
• Do they make recommendations based only on price?
• How long has their agency been open in Portland?
• Is there a Errors and Omissions policy in force?
• How many companies do they write for?
• If you raise deductibles, how much can you save?
• Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
• What insurance company do they write the most business with?

When searching for a good Portland insurance agent, you must know there are a couple different types of agencies and how they can write your policy. Agents are classified as either exclusive or independent.

Exclusive Car Insurance Agents

Exclusive agencies write business for a single company like Farmers Insurance, State Farm, or Allstate. These agents are unable to provide rate quotes from other companies so you need to shop around if the rates are high. They are highly trained on the products they sell which helps them compete with independent agents. Consumers often buy from exclusive agents partially due to loyalty to the company rather than low rates.

The following is a list of exclusive insurance agencies in Portland willing to provide rate quotes.

• Chris Lawson – State Farm Insurance Agent
  3118 NE Broadway St – Portland, OR 97232 – (503) 282-4569 – View Map
• State Farm: Jared Dean
  101 SW Main St #915 – Portland, OR 97204 – (503) 222-6601 – View Map
• American Family Insurance – Lee Cannon
  8085 SE 16th Ave – Portland, OR 97202 – (503) 235-1545 – View Map

View more Portland agents

Independent Car Insurance Agents

Independent insurance agents often have many company appointments and that allows them to write policies amongst many companies and potentially find a lower price. If they quote lower rates, an independent agent can move your coverage and you don’t have to switch agencies. When comparing car insurance rates, it’s recommended you compare quotes from several independent agencies to get the best comparison. They often place coverage with additional companies that you may not be familiar with that many times have cheaper rates.

Shown below is a list of independent insurance agencies in Portland willing to provide rate quotes.

• Peninsula Insurance
  12700 NW Cornell Rd – Portland, OR 97229 – (503) 644-5333 – View Map
• Matthew K Barnett Agency
  3332 N Lombard St – Portland, OR 97217 – (503) 285-2546 – View Map
• Propel Insurance
  888 SW 5th Ave #1170 – Portland, OR 97204 – (503) 467-7540 – View Map

View more Portland agents