It’s a fact that insurance companies don’t want you to compare rates. Consumers who compare other prices are likely to buy a different policy because of the high probability of finding discount prices. A recent survey discovered that people who make a habit of shopping around saved approximately $865 a year compared to drivers who didn’t regularly shop around.
If finding the cheapest rates on car insurance is why you’re reading this, then having some insight into how to get price quotes and compare insurance can save time and money.
The recommended way to get cheaper car insurance rates in Portland is to start doing a yearly price comparison from providers that insure vehicles in Oregon.
- It will benefit you to learn about the different coverages in a policy and the changes you can make to prevent rate increases. Many risk factors that drive up the price such as at-fault accidents, speeding tickets, and your credit history can be improved by making lifestyle changes or driving safer.
- Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO or Allstate, while agents who are independent can provide price quotes from many different companies.
- Compare the quotes to your current policy to determine if switching companies saves money. If you find better rates, ensure coverage does not lapse between policies.
- Give notification to your current company to cancel the current policy. Submit payment along with a signed and completed policy application to the new company. Once the application is submitted, put the new certificate verifying proof of insurance in a readily accessible location in your vehicle.
An important bit of advice to remember is to try to use the same level of coverage on each quote and and to get prices from every company you can. This ensures a level playing field and plenty of rates choose from.
Buying the cheapest insurance in Portland seems hard but is not really that difficult. In a nutshell, every person who needs lower cost insurance most likely will be able to find better rates. Although Oregon consumers do need to know how the larger insurance companies price insurance differently because rates are impacted by many factors.
There are several ways to compare quotes from many auto insurance companies in Oregon. One of the best ways to find competitive Honda CR-Z insurance rates involves getting comparison quotes online. It’s important to know that comparing more quotes helps locate better pricing. Some insurance companies are not set up to provide Portland CR-Z insurance quotes online, so it’s important to also get prices from those companies as well.
The companies shown below are our best choices to provide price comparisons in Portland, OR. In order to find the cheapest car insurance in OR, we recommend you click on several of them to get the best price comparison.
Car insurance is an important decision
Even though it’s not necessarily cheap to insure a Honda in Portland, insurance serves a purpose in several ways.
- Just about all states have mandatory insurance requirements which means you are required to buy specific limits of liability insurance coverage in order to be legal. 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 took out a loan on your Honda CR-Z, almost every bank will force you to have physical damage coverage to guarantee their interest in the vehicle. If you default on your policy, the bank or lender will purchase a policy for your Honda at a much higher rate and force you to pay a much higher amount than you were paying before.
- Car insurance protects both your Honda and your personal assets. It will also pay for hospital and medical expenses for both you and anyone you injure as the result of an accident. Liability insurance will also pay for a defense attorney if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, your policy will cover the damage repairs after a deductible is paid.
The benefits of insuring your CR-Z definitely exceed the price paid, specifically if you ever have a liability claim. Despite what companies tell you, the average driver overpays as much as $830 a year so compare rate quotes at every policy renewal to make sure the price is not too high.
You Can Change Your Insurance Premiums
Many things are considered when premium rates are determined. Some of the criteria are obvious such as your driving record, but other criteria are more obscure such as your marital status or your financial responsibility.
Maintain insurance coverage – Driving without insurance coverage in place can get you a ticket and your next policy will cost more because you let your insurance coverage expire. In addition to paying higher rates, failure to provide proof of insurance will get you a revoked license or a big fine.
More performance means higher premiums – The performance of the car you drive makes a big difference in determining your rates. The most favorable rates will generally be found on lower performance four cylinder passenger vehicles, but that’s not the only thing that factors into the final price.
Your spouse saves you money – Getting married may cut your premiums on your insurance policy. Having a significant other demonstrates that you tend to be more responsible and insurance companies reward insureds because married drivers get in fewer accidents.
Is you occupation costing you more? – Did you know your insurance rates can be affected by your occupation? Occupations such as military personnel, architects, and dentists generally have higher average rates attributed to intense work requirements and lots of time spent at work. On the flip side, professions such as scientists, athletes and homemakers pay the least.
Extra policy coverages that may not be needed – There are many extra bells and whistles that can waste your money but may not be useful. Coverages like rental car coverage, towing coverage, and extra equipment coverage may not be needed and are just wasting money. These may sound like a good investment at first, but if they’re wasting money think about removing them and cutting costs.
Honda CR-Z insurance loss data – Insurers study historical loss data to calculate a rate that offsets possible losses. Vehicles that are shown to have higher claim frequency or loss amount will cost more to insure.
The table below shows the insurance loss data used by companies for Honda CR-Z vehicles. For each policy coverage, the loss probability for all vehicles, regardless of manufacturer or model, is set at 100. Percentages below 100 imply a favorable loss record, while numbers above 100 point to more claims or tendency to have higher losses.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Honda CR-Z Hybrid | 106 | 87 | 83 | 98 |
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Your situation helps dictate your coverage
When selecting coverage, there really is no perfect coverage plan. Each situation is unique.
For instance, these questions might help in determining if you may require specific advice.
- What is the difference between comprehensive and collision coverage?
- How high should my medical payments coverage be?
- Should I waive the damage coverage when renting a car?
- How much coverage applies to personal belongings?
- Does liability extend to a camper or trailer?
- Is my Honda CR-Z covered for smoke damage?
If you can’t answer these questions but you know they apply to you, you might consider talking to a licensed insurance agent. To find an agent in your area, complete this form.
Quote more and you will save more
Some insurance companies may not have price quotes online and most of the time these regional carriers only sell coverage through local independent agents. Low-cost Honda CR-Z insurance in Portland can be sourced both online and with local Portland insurance agents, and you should compare rates from both in order to have the best price selection to choose from.
Insureds change insurance companies for a variety of reasons including questionable increases in premium, lack of trust in their agent, not issuing a premium refund or unfair underwriting practices. Regardless of your reason, switching car insurance companies is easier than you think.
We covered a lot of ways to lower your Honda CR-Z insurance auto insurance rates in Portland. The most important thing to understand is the more price quotes you have, the better your comparison will be. Drivers may even discover the best price on car insurance is with the least-expected company.
Helpful resources
- Bodily Injury Coverage (Liberty Mutual)
- Who Has Affordable Portland Auto Insurance Rates for a 20 Year Old Female? (FAQ)
- Who Has Cheap Portland Car Insurance Quotes for Welfare Recipients? (FAQ)
- How Much are Portland Car Insurance Quotes for Drivers Under 21? (FAQ)
- Information for Teen Drivers (GEICO)
- Older Driver Statistics (Insurance Information Institute)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)