Drivers in Oregon will pay just under $1,300 for auto insurance in 2016, according to Insure.com, putting the state in the middle of the pack based on cost. For many residents of the Beaver State, this can be a significant burden. For this reason it is vital that residents of the state shop around and compare prices online.
Oregon law requires that all drivers carry liability insurance. This insurance pays for injuries you cause to other people in an accident, and also pays for the repair of the other driver’s car or other personal property that was destroyed in the accident. There are different types of coverage, and generally plans with the best coverage will come with higher premiums. If your level of coverage doesn’t cover all costs of an accident, you may have to come up with additional cash out of your own pocket.
Oregon law also requires all drivers to carry what is called Personal Injury Protection (PIP). This covers you and any of your passengers for medical treatment, funeral expenses, and loss of wages. Drivers can pay a deductible on the PIP coverage, reducing their monthly premium payments — the higher the deductible, the lower the premiums.
There is a third type of auto insurance coverage that all drivers in Oregon are required to carry, and that is Uninsured Motorist coverage. This coverage pays the medical expenses of you and your passengers if you are in an accident with a motorist who does not have the required liability insurance.
Drivers looking for the least expensive automobile insurance can purchase the minimum requirements and be allowed to legally drive. However, without additional coverage, such as Collision coverage, your insurance will not repair your vehicle if you are at fault in an accident. For many drivers, the peace of mind offered by plans with greater coverage is well worth the cost.
Even if you are purchasing the minimum insurance required, it is still important for you to shop online and compare the rates of different insurers, as rates vary greatly from company to company. At AutoInsuranceWorld.net, we only provide quotes from highly-trusted and reputable companies.
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