Cheap Oregon Low-Income Car Insurance for Families and Individuals

Oregon does not have a government assistance program to help low-income drivers with the cost of car insurance. To help you find affordable insurance, MoneyGeek ranked car insurance companies throughout the state. GEICO offers the cheapest car insurance for low-income families and individuals in Oregon.

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Last Updated: 4/19/2022
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Your income level is not used to determine the price of your car insurance. Instead, factors such as your age or adding a teen driver to your policy affect your car insurance premiums. MoneyGeek computed the cheapest options for low-income individuals and families in Oregon based on poor or good credit scores.

Is There Car Insurance for Low-Income Families and Individuals in Oregon?

There isn’t a government car insurance program in Oregon to help low-income individuals and families with car insurance costs. Even though insurance is required by law, some 10.7% of Oregon drivers are uninsured. Many low-income drivers simply can’t afford car insurance.

A minimum coverage policy may be your best option if you’re looking for cheap car insurance in Oregon, even though it provides the least protection. Another affordable option if you don’t drive often might be pay-per-mile insurance coverage.

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Does Oregon Have a Government Program to Support Low-Income Drivers with Insurance?

Oregon doesn’t have a government assistance program for low-income drivers. If you’re looking for affordable car insurance, compare quotes from several car insurance providers.

MoneyGeek analyzed and listed the cheapest car insurance companies for low-income individuals and families in Oregon.

The Cheapest Oregon Car Insurance Companies for Low-Income Drivers

Car insurance companies don’t consider income when calculating how much to charge for car insurance. However, other factors, like your age and credit score, are important. The cheapest car insurance is a minimum coverage policy, but it provides the least protection. MoneyGeek found GEICO to be the cheapest Oregon car insurance company for low-income drivers.

MoneyGeek analyzed the most affordable minimum car insurance for low-income families and individuals of different ages and compared rates based on their credit scores.

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The Cheapest Oregon Car Insurance Companies for Low-Income Families

Your income may not affect your car insurance rates, but your credit score does. Our sample single parent with a teen driver and poor credit score in Oregon pays $1,730 per year more than their counterpart with good credit. A couple with one teen driver and poor credit pays approximately $2,130 per year more than if they had a good credit score.

For a couple with a teen driver and poor credit, the two cheapest companies in Oregon are:

  • GEICO: $3,976 per year
  • Progressive: $4,265 per year

USAA offers the cheapest policy for this profile at $3,215 per year on average. However, car insurance through USAA is limited to military members and their families.

The two cheapest providers in Oregon for single parents with a teen driver and poor credit score are:

  • GEICO: $3,655 per year
  • State Farm: $3,691 per year

Having a low income doesn’t necessarily mean you automatically have a poor credit score. The table below shows the cheapest options for your profile.

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Single parent w/ a kid

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Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $1,522
  • GEICO
    $2,196
  • State Farm
    $2,218
  • Country Financial
    $2,220
  • Travelers
    $2,322
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The Cheapest Oregon Car Insurance Companies for Low-Income Individuals

Our 40-year-old sample driver with poor credit pays approximately $528 per year more than their counterpart with a good credit score. The two cheapest car insurance companies in Oregon for individual drivers with a poor credit score are:

  • GEICO: $971 per year
  • Progressive: $1,078 per year

The second cheapest provider is USAA, at an average of $796 per year. However, we excluded this insurer from our ranking since their policies are only available to active military members, veterans and their families.

Just because you have a low income doesn’t mean you have a poor credit score. If you have good credit, insurers take that into account when calculating the cost of your insurance. On average, individual drivers with good credit scores pay $583 per year with GEICO and $648 per year with Progressive.

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Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $479
  • GEICO
    $583
  • Progressive
    $648
  • Country Financial
    $704
  • State Farm
    $740

The Cheapest Oregon Car Insurance Companies for Low-Income Students

Due to a lack of driving experience, young student drivers are charged more for car insurance than older drivers. They aren’t charged for having a lower income, but their car insurance premiums will eat a significant portion of that income.

The two cheapest companies in Oregon for young drivers with a poor credit score are:

  • GEICO: $2,254 per year
  • Progressive: $2,503 per year

You can have a good credit score despite having a low income, which will certainly make a difference in the cost of your insurance. In Oregon, young drivers with good credit will pay $1,355 per year on average for car insurance from GEICO and $1,504 for a policy from Progressive.

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $1,111
  • GEICO
    $1,355
  • Progressive
    $1,504
  • Country Financial
    $1,634
  • State Farm
    $1,717

The Cheapest Oregon Car Insurance Companies for Low-Income Seniors

Compared to middle-aged drivers, senior drivers tend to pay more for car insurance. Those rates will increase if they have a poor credit score. For example, our sample 70-year-old Oregon driver will pay $567 more with poor credit than good credit.

In Oregon, the two cheapest car insurance companies for low-income seniors with poor credit scores are:

  • GEICO: $985 per year
  • Progressive: $1,223 per year

USAA has the cheapest car insurance for seniors with poor credit in Oregon at $940 per year on average. We didn’t include this insurer in our rankings since its policies are exclusive to current and former military members.

While you may have a low income, it doesn’t mean that you’ll have a poor credit score. Having a good credit score can make your car insurance much more affordable.

The two cheapest car insurance companies in Oregon for low-income seniors with good credit on average are:

  • GEICO: 592 per year
  • Progressive: $735 per year

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $565
  • GEICO
    $592
  • Progressive
    $735
  • State Farm
    $740
  • Country Financial
    $744

Does Income Affect Car Insurance Rates in Oregon?

Auto insurance providers do not use income as a factor when calculating your car insurance rates. Other income-related factors, however, can affect the cost of your policy.

For example, low-income families or individuals may need to make more claims since they can’t always afford to pay for repairs out-of-pocket. Insurers tend to charge higher rates to drivers with a history of claims. On the other hand, young drivers are charged more expensive rates because their inexperience is more likely to get them into an accident. While they might have lower incomes since they may still be students or recent graduates, their low income is not a factor in the cost of their car insurance.

MoneyGeek analyzed which factors affect Oregon car insurance rates. The three most important are:

  • Your age.
  • Your credit score.
  • Adding a teen driver to your policy.

Aside from this, your car model and the level of insurance coverage you select also impact the cost.

  • Factor
    How it Affects Your Rates
  • Adding a Teen Driver

    Adding a teen driver to your Oregon car insurance policy increases your price up to 2.9x more.

  • Age of Driver

    Young drivers in Oregon may pay 2.3x more compared to middle-aged drivers.

  • Credit Score

    Having a poor credit score in Oregon will cost you two times more than having a good credit score.

  • Car Model

    Your insurance rate will be twice as expensive if you have the latest car model.

  • Coverage Levels

    On average, full coverage car insurance in Oregon costs 1.6x more than the state minimum.

Frequently Asked Questions About Low-Income Car Insurance in Oregon

Below, MoneyGeek answers frequently asked questions about car insurance in Oregon for low-income individuals and families.

Methodology

MoneyGeek calculated the cost of car insurance for low-income drivers in Oregon using quotes sourced in partnership with Quadrant Information Services. The sample driver is either a 40-year-old male, a single 40-year-old parent with a 16-year-old child, an adult couple each 40 years old or a couple with a 16-year-old child. The individual or family drives a 2010 Toyota Camry LE. The driver buys the minimum car insurance required in Oregon.

Costs for poor and good credit scores were extrapolated based on MoneyGeek’s dataset of credit score rate adjustments by score categorization.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.