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You can get a quick estimate of car insurance prices in Oregon using MoneyGeek’s car insurance calculator.
Various factors affect the cost of car insurance. MoneyGeek analyzed how car insurance premiums are calculated in Oregon to help you figure out which factors have the biggest influence on your rates.
Oregon Car Insurance Calculator: How it Gets You an Instant, Free Estimate
Getting an accurate car insurance quote in Oregon takes about 10 to 15 minutes and requires you to provide personal information.
MoneyGeek’s Oregon car insurance calculator can give you an estimate of how much your car insurance may cost per month or year based on your age, driving record, vehicle type and coverage levels.
Our calculator shows which factors have the most significant impact on your car insurance rates. In Oregon, we found that adding a teen driver, your age and your credit score affect the cost of your premiums the most. That said, the biggest factor for you may vary depending on your driver profile.
The cheapest car insurance company for you may depend on several factors, but our calculator can get you a close estimate. For our default driver, the least expensive and most widely-available company in Oregon is Country Financial, which offers policies that cost around $748 per year.
However, price isn’t everything. You’ll want to consider a company’s offerings and customer service when choosing an insurer.
To get the cheapest car insurance in Oregon, MoneyGeek recommends using our car insurance calculator to get an estimate or browsing our collection of sample drivers.
MoneyGeek analyzed the average cost of car insurance in Oregon based on various factors to help you get an idea of car insurance prices in Oregon compared to other states.
If cost is not your priority, MoneyGeek ranked the best car insurance companies in Oregon that balance affordability and service quality.
How Car Insurance Premiums are Calculated in Oregon
Car insurance companies in Oregon use various factors to determine the cost of car insurance. These include age, gender, driving record, credit score, coverage levels, car model and car age.
According to MoneyGeek’s data, the addition of a teen driver, your age and credit score are the most important factors in calculating your rates in the state.
Adding a teen to your policy can impact your premium by a factor of 2.9x.
How Much Adding a Teen Driver Matters in Calculating Car Insurance in Oregon
Adding a teen driver to your policy can make your car insurance rates more expensive. This is because teenagers are considered high-risk drivers due to their lack of experience on the road.
In Oregon, adding a teen driver to your policy has the most significant influence on your car insurance price estimate. It can multiply your rates by 2.9x.
How Much Age of Driver Matters in Calculating Car Insurance in Oregon
Your age is a key factor in calculating car insurance premiums in Oregon. Young drivers tend to face higher car insurance costs than their middle-aged counterparts. Likewise, senior drivers pay more for car insurance. Depending on your age, your rates can multiply by 2.3x.
The most affordable car insurance in Oregon is for a 40-year-old driver, while the most expensive is for a 19 to 20-year-old driver.
How Much Credit Score Matters in Calculating Car Insurance in Oregon
Your car insurance rates in Oregon may vary depending on your credit score. Having an excellent credit score can get you cheaper car insurance, while a poor credit score may increase your premiums.
If you have a poor credit score, it can multiply your car insurance rates in Oregon by 2x as compared to a driver with excellent credit.
How Much Car Model Matters in Calculating Car Insurance in Oregon
The model of your car has an impact on the cost of your car insurance policy. Luxury cars tend to be more expensive to repair, leading to higher insurance costs. On the other hand, SUVs are cheaper to insure.
Depending on your car model, your rates in Oregon can be twice as expensive.
How Much Coverage Levels Matters in Calculating Car Insurance in Oregon
The price of your car insurance depends on the coverage levels you choose. Getting more coverage gives you additional protection, but you’ll pay higher premiums.
In Oregon, the cheapest coverage is a state minimum policy while the priciest is full coverage with a $500 deductible and 100/300/100 liability. A full coverage policy can multiply your rates by 1.6x.
How to Calculate How Much Car Insurance You Need in Oregon
The amount of insurance you purchase is one of the factors that has the biggest influence on the cost of your car insurance. Calculating how much car insurance you need in Oregon can help you find the right balance between price and protection.
Oregon requires drivers to have bodily injury liability insurance, property damage liability insurance, uninsured/underinsured motorist insurance and personal injury protection (PIP) coverage. That said, you should consider buying additional liability insurance and comprehensive and collision insurance depending on your situation.
Understand Oregon car insurance requirements
By understanding Oregon’s minimum car insurance requirements, you can determine how much car insurance you need. Keep in mind that the state’s minimum coverage limits will only protect you for $25,000 in bodily injury liability per person and a total of $50,000 in bodily injury liability per accident.
Oregon also doesn’t require you to purchase comprehensive and collision insurance, which will protect you against damage to your car.
Consider Purchasing Additional Liability Insurance
Oregon’s minimum car insurance requirements cover your possible expenses due to an accident. However, you may need liability insurance if you want protection against the costs of a major accident.
In Oregon, the average cost of minimum liability insurance is $673 per year. Increasing your bodily injury liability coverage to $300,000 will raise your premium to $783 per year on average.
Decide whether or not to buy comprehensive and collision insurance
Drivers should decide whether they need a full coverage policy with comprehensive and collision insurance. While Oregon law doesn’t require it, lenders often do for those leasing or financing the purchase of their cars.
Adding comprehensive and collision coverage with a $1,000 deductible will cost an average of $228 more per year in Oregon. However, this coverage may not be a good investment if the car is only worth a few thousand dollars.
Consider buying additional protection besides these core coverages
Oregon requires drivers to have uninsured/underinsured motorist coverage, which will protect against accidents with a driver who has little to no insurance. Around 10.7% of drivers in the state are uninsured.
Oregon drivers are also protected against medical costs and lost wages for up to $15,000 with personal injury protection coverage.
Frequently Asked Questions About How Car Insurance is Calculated in Oregon
There are often questions about how to calculate car insurance premiums in Oregon. Knowing what impacts your premium and being informed before purchasing coverage makes good financial sense.
MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across Oregon. Our data science team analyzed how personal factors impacted cost and incorporated our findings into our calculator to provide users with an accurate estimate of their expected yearly auto insurance costs. Read more about our methodology here.
About Mark Fitzpatrick