How Can I Lower My Oregon Car Insurance Premium?

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In tough economic times people typically look for ways to cut costs wherever possible and, for the many Oregon residents who drive, auto insurance is a necessary expense they might be looking to trim. Fortunately, there are a few ways to lower premium prices that could end up saving a vehicle owner some money, or at least bring rates to a more comfortable level. The following are some measures residents in Oregon can take to reduce premiums:
  • Shop around for an affordable policy. This is not just for people in search of their first protection plan. Many people in the Beaver State purchase Oregon auto insurance and don't give their policy a second glance, sometimes for years. In that time, other insurers may have entered the market, and many details about policyholders or their vehicles are likely to change, which could affect available premiums. Residents can shop efficiently by going online and finishing a quick quote comparison with no obligation to make a purchase.

  • Ask insurers if you qualify for new discounts. Oregon regulators make note of 12 common ways to get a discount on car insurance on their website, and many of them are pretty easy to qualify for. Among them are discounts for insuring two or more cars, bundling home and car coverage, being in a car pool, taking driver-education and defensive-driving courses, being under 25 and having good grades, being between 50 and 65 years old, and equipping the insured vehicle with safety and anti-theft devices.

  • Get rerated after an improvement in credit history. Insurance companies in the state are allowed to take a person's credit history into account when setting rates for a new policy, which could adversely affect some drivers who have been through an economic rough patch. But in 2010 the government put into place a law that allows Oregonians to be rerated if they think their credit has improved. According to state regulators, more than 8,000 reductions were given as the result of these rerating requests in the law's first year, amounting to a total of $800,000 in savings. Requests for a rerating cannot lead to an increase in premiums.

  • Consider a pay as you go policy. Three personal auto insurers in the state offer the possibility of discounts if the insured car has a low annual mileage. Most of these programs are based on data collected through a device that is plugged into a vehicle's diagnostic port, which can be found on most vehicles made after 1996. The three automobile insurance coverage providers offering these discounts in the state are, as of 2011, National General Assurance, Progressive and Travelers.

  • Adjust coverage types and levels. It's important for drivers to remember that as they age, so do their cars. This means that their vehicles' value usually decreases as well. To save money. Beaver State residents may want to consider removing unnecessary coverage or consider adjusting existing deductibles. For example, if a driver is insuring a car worth only $1,000, maintaining additional protection like comprehensive and collision coverage may be unnecessary.

  • Raise deductibles. Adjusting one's deductible can help lower rates. A deductible is the amount that a policyholder typically pays before their comp or collision policy takes effect. By increasing this amount, residents are likely to experience lower rates, but they should also note that they may have to pay more out of pocket after an accident. Policyholders will need to carefully weigh the short-term and long-term effects of this option.