It’s shocking but almost 70% of drivers kept their coverage with the same auto insurance company for well over three years, and nearly 40% of drivers have never even compared rates from other companies. Most drivers in Oregon could save roughly 60% every year by just comparing rate quotes, but most tend to underestimate the big savings they would realize if they switch to a new company.
The recommended way to get the cheapest car insurance rates is to annually compare prices from insurers who can sell car insurance in Portland.
- Spend a few minutes and learn about how insurance companies determine prices and the measures you can take to prevent expensive coverage. Many factors that result in higher rates such as getting speeding tickets and an unacceptable credit history can be eliminated by making minor changes in your lifestyle.
- Compare rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like GEICO or Farmers Insurance, while independent agencies can quote rates from many different companies.
- Compare the new rate quotes to the premium of your current policy to determine if switching companies saves money. If you can save money, ensure coverage does not lapse between policies.
- Notify your company or agent to cancel the current policy and submit a completed policy application and payment to your new carrier. As soon as you receive it, store the certificate verifying coverage with your vehicle’s registration.
One piece of advice is that you’ll want to compare similar limits and deductibles on every price quote and and to look at as many car insurance companies as possible. Doing this ensures the most accurate price comparison and a good representation of prices.
The companies shown below have been selected to offer price quotes in Portland, OR. To locate cheaper car insurance in OR, we recommend you visit as many as you can to get the most competitive price.
Detailed insurance information
The coverage information shown next covers estimates of insurance coverage prices for Mitsubishi Lancer models. Learning as much as possible about how prices are formulated helps drivers make smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Lancer DE | $274 | $564 | $386 | $22 | $116 | $1,362 | $114 |
| Lancer ES | $274 | $564 | $386 | $22 | $116 | $1,362 | $114 |
| Lancer GTS | $304 | $650 | $386 | $22 | $116 | $1,478 | $123 |
| Lancer Sportback GTS | $304 | $650 | $386 | $22 | $116 | $1,478 | $123 |
| Lancer RALLIART | $336 | $734 | $386 | $22 | $116 | $1,594 | $133 |
| Lancer Sportback Ralliart | $336 | $734 | $386 | $22 | $116 | $1,594 | $133 |
| Get Your Own Custom Quote Go | |||||||
Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Oregon minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Rate information does not factor in specific Portland garaging location which can impact coverage prices substantially.
The diagram below illustrates how your choice of deductibles and can increase or decrease Mitsubishi Lancer insurance prices for different age categories. The rates are based on a married female driver, comprehensive and collision coverage, and no additional discounts are factored in.
Drive responsibly or pay higher rates
The example below demonstrates how traffic citations and at-fault fender-benders can influence Mitsubishi Lancer insurance costs for different insured age categories. The premiums assume a single male driver, full coverage, $250 deductibles, and no discounts are applied to the premium.
Premiums by gender and age
The chart below compares Mitsubishi Lancer auto insurance costs for male and female drivers. The costs are based on no accidents, no driving violations, comprehensive and collision coverage, $500 deductibles, drivers are single, and no policy discounts are applied.
Should you buy full coverage?
The diagram below visualizes the comparison of Mitsubishi Lancer insurance premiums when comparing full coverage to liability only. The premiums assume no claims or violations, $1,000 deductibles, single marital status, and no discounts are factored in.
Guidelines for eliminating full coverage
There is no exact formula of when to stop paying for physical damage coverage, but there is a general school of thought. If the yearly cost of full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let’s say your Mitsubishi Lancer settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $4,000 after you pay the deductible. If premiums are more than $400 annually for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are a few cases where eliminating full coverage is not financially feasible. If you haven’t satisfied your loan, you have to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should keep full coverage.
Auto insurance in Oregon serves several purposes
Even though Portland Lancer insurance rates can get expensive, auto insurance is a good idea for several reasons.
- The majority of states have mandatory liability insurance requirements which means you are required to carry specific limits of liability insurance if you drive a vehicle. 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.
- If you have a loan on your Lancer, it’s guaranteed your bank will require that you have insurance to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the lender will be forced to insure your Mitsubishi at a more expensive rate and force you to pay a much higher amount than you were paying before.
- Auto insurance preserves your Mitsubishi Lancer and your assets. It also can pay for all forms of medical expenses for yourself as well as anyone injured by you. One policy coverage, liability insurance, also pays for attorney fees and expenses if anyone sues you for causing an accident. If your Mitsubishi gets damaged, collision and comprehensive (also known as other-than-collision) coverage will cover the damage repairs after a deductible is paid.
The benefits of having auto insurance outweigh the cost, especially for larger claims. But the average driver in Oregon is overpaying over $850 per year so shop around at every policy renewal to make sure the price is not too high.
Get affordable rates on Mitsubishi Lancer insurance in Portland with these six auto insurance discounts
Some companies don’t always publicize the entire discount list in a way that’s easy to find, so the next list breaks down some of the best known and the more hidden credits that may apply to you.
- Good Driver Discounts – Drivers who don’t get into accidents may receive a discount up to 45% than drivers with accidents.
- Driver Safety – Passing a course that instructs on driving safety could possibly earn you a 5% discount and easily recoup the cost of the course.
- Good Student – Excelling in school can earn a discount of 20% or more. This discount can apply up until you turn 25.
- Auto/Home Discount – If you insure your home and vehicles and place coverage with the same company they may give you a discount of 10% to 20% off each policy.
- Multiple Cars – Purchasing coverage when you have all your vehicles with the same auto insurance company may reduce the rate for each vehicle.
- Early Renewal Discounts – Some larger companies provide a discount for switching policies before your current Lancer insurance policy expires. It could save around 10% when you buy Portland car insurance online.
Don’t be shocked that many deductions do not apply to the entire cost. A few only apply to individual premiums such as liability, collision or medical payments. Even though it may seem like you would end up receiving a 100% discount, it’s just not the way it works.
The information below illustrates the comparison of Mitsubishi Lancer insurance rates with and without discounts applied. The data assumes a male driver, no accidents, no driving violations, Oregon state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, homeowner, multi-car, multi-policy, and marriage discounts applied.
Some of the insurance companies that have these discounts include:
If you need low cost Portland car insurance quotes, ask each company to give you their best rates. All car insurance discounts may not apply to policies in Portland. To choose insurers that can offer you the previously mentioned discounts in Portland, click here to view.
Compare rates but work with a local Portland insurance agency
A small number of people still prefer to go talk to an agent and that can be a smart move Insurance agents can point out coverage gaps and help in the event of a claim. The biggest benefit of price shopping on the web is that you can obtain cheaper rates but also keep your business local. Supporting neighborhood agents is still important in Portland.
To help locate an agent, after submitting this short form, the quote information is submitted to local insurance agents in Portland that give free quotes and help you find cheaper coverage. You don’t have to do any legwork because prices are sent instantly to you. In the event you want to get a comparison quote from a specific insurance company, feel free to navigate to their website and submit a quote form there.
Finding the right company shouldn’t rely on just a cheap price quote. These are some questions your agent should answer.
- Can you choose the body shop in case repairs are needed?
- Will they make sure you get an adequate claim settlement?
- Is the agency active in community causes in Portland?
- Are they primarily personal or commercial lines agents in Portland?
- Will the agent or a CSR service your policy?
- Which company do they place the most coverage with?
After talking to the agent and getting good feedback to all your questions and an acceptable price quote, you’ve probably found an provider that meets the criteria to properly service your auto insurance policy. But keep in mind you have the power to cancel your coverage for any reason so never feel that you’re stuck with your new company for a certain time period.
Different people need different auto insurance coverages
When it comes to buying your policy for your vehicles, there really is no one size fits all plan. Your situation is unique so your insurance should reflect that
For instance, these questions can help discover if you may require specific advice.
- Am I covered if I wreck a rental car?
- What is the difference between personal and commercial auto insurance policies?
- Does liability extend to a camper or trailer?
- Am I covered when delivering products for my home-based business?
- Can I drive in Mexico and have coverage?
- Am I covered by my spouse’s policy after a separation?
- Is borrowed equipment or tools covered if stolen or damaged?
- How can I get the company to pay a claim?
- Is my custom stereo system covered?
If you don’t know the answers to these questions but a few of them apply, you may need to chat with a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It is quick, free and may give you better protection.
Auto insurance specifics
Having a good grasp of your auto insurance policy can be of help when determining which coverages you need and the correct deductibles and limits. The terms used in a policy can be confusing and nobody wants to actually read their policy. Shown next are the normal coverages found on most auto insurance policies.
Liability auto insurance
This coverage will cover injuries or damage you cause to people or other property that is your fault. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 25/50/20 which stand for $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $20,000. Occasionally you may see one number which is a combined single limit which limits claims to one amount and claims can be made without the split limit restrictions.
Liability coverage pays for things like funeral expenses, court costs, pain and suffering, emergency aid and bail bonds. How much liability coverage do you need? That is up to you, but consider buying as large an amount as possible. Oregon requires drivers to carry at least 25/50/20 but drivers should carry more liability than the minimum.
The next chart shows why minimum state limits may not provide you with enough coverage.
Coverage for uninsured or underinsured drivers
This coverage protects you and your vehicle’s occupants from other motorists when they either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants as well as damage to your Mitsubishi Lancer.
Because many people only purchase the least amount of liability that is required (25/50/20 in Oregon), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Usually these coverages are set the same as your liability limits.
Collision protection
Collision insurance pays for damage to your Lancer from colliding with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision can pay for things like colliding with another moving vehicle, hitting a mailbox and hitting a parking meter. This coverage can be expensive, so consider removing coverage from older vehicles. Drivers also have the option to increase the deductible on your Lancer in order to get cheaper collision rates.
Coverage for medical expenses
Medical payments and Personal Injury Protection insurance kick in for expenses such as nursing services, rehabilitation expenses, surgery, doctor visits and hospital visits. They are used to fill the gap from your health insurance plan or if you lack health insurance entirely. Coverage applies to you and your occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage
Comprehensive auto insurance
Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things like falling objects, theft, hail damage and damage from a tornado or hurricane. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
Do the work, save more money
We just showed you many ideas to lower your Mitsubishi Lancer insurance premium rates in Portland. The most important thing to understand is the more companies you get prices for, the better your comparison will be. You may even discover the best premium rates are with the least-expected company. Regional companies can often provide lower prices in certain areas compared to the large companies like Allstate or State Farm.
When trying to cut insurance costs, it’s a bad idea to skimp on coverage in order to save money. In too many instances, consumers will sacrifice full coverage and learned later that saving that couple of dollars actually costed them tens of thousands. Your focus should be to buy enough coverage for the lowest cost, but do not sacrifice coverage to save money.
Even more information is available by following these links:
- Auto Insurance Basics (Insurance Information Institute)
- How Much are Car Insurance Quotes for Seniors in Portland? (FAQ)
- Who Has Cheap Portland Car Insurance for 4×4 Vehicles? (FAQ)
- How Much is Portland Auto Insurance for Infrequent Drivers? (FAQ)
- How Much is Car Insurance for a Subaru Forester in Portland? (FAQ)
- Who Has the Cheapest Auto Insurance for Inexperienced Drivers in Portland? (FAQ)
- How do I File a Claim? (Insurance Information Institute)
- Rental Reimbursement Coverage (Allstate)
- Collision Insurance Coverage (Nationwide)
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)