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<Oregon state requires that all vehicles driven on any roadway must have at least liability insurance coverage. This insurance covers any damages or medical expenses incurred from an automobile accident. When a driver does not have liability insurance on their vehicle, and they get into an auto accident, they will be held personally liable for any damages sustained to the other vehicle, as well as the medical costs associated with any injuries in the accident. Oregon is one of the toughest states on enforcing car insurance laws, with more ways to verify that every registered vehicle has the necessary insurance, and penalties for those who are caught without coverage.
Requirements for Insurance in Oregon
Oregon requires that every vehicle has a set amount of coverage that will pay for all damages to other vehicles and their passengers in the event of an accident. Insurance companies in the state are well-versed in the minimum requirements and they price policies in Oregon to meet them. The minimum coverages are as follows:
*Bodily Injury: $25,000 per person; $50,000 per incident and $20,000 per incident for the property of others.
*$15,000 in personal injury protection.
*Uninsured Motorist: $25,000 per person and $50,000 per crash for bodily injury.
Enforcement
Oregon is one of very few states that have taken a proactive stance on enforcing insurance laws. Each month, the Oregon DMV draws random registrations and then requests proof of insurance from the owners. If the owner fails to provide this proof within a given time frame, they must file for future liability or SR-22 insurance. When an owner is required to do so, an active policy must stay on file for 3 years. If the coverages lapses, the insurance company will contact the state and the owner's driving privileges will be revoked.
Whenever a driver is pulled over or involved in an accident in Oregon, they are required to provide proof of liability auto insurance. If any driver fails to provide this insurance, the consequences can include:
*Having their vehicle impounded.
*Having to file an SR-22 insurance.
*Having their license suspended.
*Jail time.
The severity of the consequences will vary depending on the number of violations the driver has on their driving record, but they can become very costly.
Cost of Insurance
Oregon tends to stay close to the national average in yearly auto insurance costs. The average car insurance policy in Oregon costs the driver about $750 per year, making it the 23rd highest paying state. If the driver was to add comprehensive and collision to the policy, this figure will be much higher, depending on the chosen deductible.
Cost Factors
Oregon insurance companies use a comprehensive list of the various risk factors when determining the cost of insurance. Those who have had their driver's license for a short period of time can have a hard time finding cheap auto insurance, while those who have had their license for years often find it equally expensive due to their age. Other factors include auto accidents, violations and the status of any SR-22 requirements. Credit is another factor that will determine what the premium is, and the overall risk for the insurance company. Drivers who have poor or little credit will often pay more for their insurance than those who have perfect credit.
Available Discounts
Insurance premiums can be lowered through the discounts that a driver is eligible for. There are many discounts available, including multi-policy discounts for those who bundle auto, life and home owners insurance into one premium, and paid-in-full discounts for those who pay in one lump sum. Other discounts can help parents who have teenagers on their policy; when students earn at least a 3.0 GPA, they may qualify for a good student discount. Those who complete drivers' education training will also earn a discount on their insurance costs.
The vehicle insured can also provide discounts to the driver. If the vehicle has a good safety rating and reputation, it could bring down the price of the premium. Newer cars actually mean a lower premium than older models, since older autos are often targeted by car thieves due to their lower-quality security systems.
Oregon Statistics
The main factor that keeps Oregon at the national average for auto insurance costs is seat belt use. Studies have shown that Oregon is the #1 state as far as seat belt usage; only 1 in 7 adults go without wearing their seat belt on a regular basis.
Road conditions in Oregon tend to stay on the moderate side, as there is little ice or snowfall due to the oceanic weather on the coast. This also helps keep insurance costs down for Oregon residents.
One factor that has negatively impacted auto insurance costs for Oregon residents is the number of car thefts in the state. Older model import vehicles are most at risk; for example, the most stolen car in Oregon is the 1992 Honda Accord, and the runner up is the 1998 Honda Civic. Three domestic vehicles made the list and they include the 2001 Dodge Ram, 1994 Ford F-150 and the 1988 full sized Chevy pickup. Car thieves know that it is difficult to get through the security systems that are found in most new vehicles, so they go after older models that they can steal quickly and easily and then sell for parts.
Auto Insurance Companies in Oregon
Most major auto insurance companies provide coverage in the state of Oregon. These include the basic cheap car insurance companies that offer ten minute quotes, like Geico and Progressive, as well as other large insurance companies like Nationwide, Allstate and State Farm. Other companies, such as American Family Insurance and Amica Insurance, also provide coverage in the state. These companies all offer the same coverages and benefits that are available in other states. Most also offer different types of insurance such as homeowners, renters and even motorcycle insurance, so consumers keep all of their policies with one company. It is actually fairly easy to obtain auto insurance in Oregon, mainly due to the fact that all vehicle owners get insurance due to the strict guidelines and active enforcement of the laws.
Oregon Insurance Division: http://www.cbs.state.or.us/ins/index.html
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