The state of Oregon requires vehicle owners to have auto insurance.
People with a car registered in the state must obtain at least the minimum Oregon auto insurance coverage when a policy is purchased from an insurer.
Oregon's Insurance Division has representatives available to assist people with questions or concerns about insurance.
Basic liability is the minimum amount of coverage a driver must obtain in a policy.
Oregon's basic liability consists of body injury coverage of $25,000/$50,000; property damage of $20,000; personal injury protection of $15,000; and uninsured motorist coverage of $25,000/$50,000.
There are various factors insurers take into consideration prior to providing a quote.
They review your driving record for at least the past three years.
Your credit rating and the type of car you own are also factors.
If a driving record reflects traffic tickets and accidents, the driver may be considered a higher risk to get into an accident in the future.
A poor credit rating is statistically correlated to difficulty paying the premium and a greater likelihood of getting into an accident.
Usually, expensive sports cars will have higher rates than a four door sedan since the insurer may have to pay more money if the sports car is damaged.
There are ways to save money when purchasing a policy.
Getting quotes online is an easy way to compare rates from different companies.
Consider if you need coverage beyond basic liability.
If your car has a low market value, it may not be worth it to pay for additional coverage such as collision or comprehensive.
Ask for discounts prior to buying a policy.
Some companies will lower your rate if you took a defensive driving course or belong to certain organizations.
The Oregon Insurance Division has a consumer advocacy unit that assists citizens who are not being treated fairly by their insurers.
You can file a complaint and it will be investigated to assess if any wrongdoing has occurred or if there is a way to remedy the situation.
The state also has a financial regulation section that you can contact in order to find out if the insurer is authorized to operate and do business in the state.
Buying a policy that complies with the law and fits your financial needs is very important.
Take your time to diligently research which insurer and policy terms are right for you.
If you have any concerns or questions regarding an insurer, state representatives can assist you.