Oregon Car Insurance Laws | Bankrate

Oregon’s 3.1 million licensed drivers know there are laws in place to protect them and their vehicles on the road. This includes insurance laws that state that all drivers must have a solid insurance policy with a required amount of coverage. Why is that so important? Consider the following Oregon statistics for 2018, the most recent year for which data is available:

• There were 27,717 accidents with non-fatal injuries
• 446 accidents resulted in 502 deaths, an increase of 10.67% over the previous year
• 41,073 people were injured in accidents
• 826 accidents involved bicycles; There were 1,036 motorcycle accidents

Oregon’s auto insurance laws are designed to keep accidents to a minimum while allowing people to get to their destinations on time. Oregon’s auto insurance requirements, meanwhile, ensure drivers have the funds to pay for accidental injuries and damage.

Automobile Insurance Laws in Oregon

To comply with Oregon auto insurance laws, you will need an insurance policy that includes several types of coverage. Here are the minimum requirements for Oregon auto insurance laws:

• $ 25,000 per person liability
• $ 50,000 per accident personal injury liability
• $ 20,000 per accident property damage liability
• $ 15,000 Personal Injury Protection (PIP)
• $ 25,000 per person, uninsured motor vehicle liability
• $ 50,000 per accident, uninsured motor vehicle liability

Liability Insurance in Oregon

The basic element of Oregon insurance law is liability insurance, which simply means that you are responsible for something – in this case, any injury or property damage caused by your fault in an accident. Your liability insurance means you won’t be stuck paying thousands of dollars if you cause an accident. The medical costs of a serious accident can be astronomical; Your liability protects you from having to pay it up to the limits of your policy.

The required minimum liability may not be sufficient in some cases. If you can afford it, consider purchasing higher liability limits. Think of an accident that required hospitalization and surgery. These costs could easily exceed the minimum liability of $ 25,000. Or think about the fact that the average cost of a new car in the US is more than $ 40,000. If you were total loss on another driver’s car, that $ 20,000 minimum liability would not cover the cost of a new one.

There are other types of insurance that are not required by law but make sense. Fully comprehensive insurance covers, for example, damage to your own car after an accident or breakdown. There is also new car replacement insurance, gap coverage and breakdown assistance from many insurers.

Is Oregon a Flawless State?

Oregon is not one of the 12 flawless states in the United States. In an error-free state, you report damage to your own insurer after an accident, regardless of who is at fault. No-fault laws are designed to expedite the payment of claims and keep lawsuits out of the courts.

As a culpable state, Oregon liability claims go to the insurance company representing the culpable driver. If the culprit driver does not have sufficient coverage to pay all costs, the other driver can sue him in court for damages if necessary.

Penalties for driving without insurance in Oregon

Oregon’s auto insurance requirements state that anyone who does not have an insurance policy will face fines. These penalties include fines between $ 130 and $ 1,000, depending on the court decision, and additional fees apply if your license is suspended, which can last up to a year. At the same time, your car can also be confiscated. If your license is locked out, you will need an SR-22 certificate to get it back.

Additional options for auto insurance coverage in Oregon

Once you’ve got Oregon Minimum Car Insurance, you can add additional coverage options to your policy for more solid coverage. We’ve already mentioned collision and fully comprehensive insurance, but most insurers have other optional coverage that you can choose from, such as the following:

• Gap coverage: Due to depreciation, your car depreciates quickly after you drive it out of the parking lot. When the amount is added up and you owe more on your car loan than the car is worth, this coverage will pay the difference.
• New car replacement: If your new (year old or newer) car is totaled, this coverage ensures you have the money to buy a new car of the same make and model as the one you lost.
• Roadside assistance: This covers the cost of towing, recharging the battery, replacing a flat tire and more if something happens while you are driving.
• Ridesharing coverage: If you’re driving for Lyft, Uber, or another ride-sharing company, this coverage is in addition to the minimum coverage you get from the company and your own basic insurance.

frequently asked Questions

What is the Best Auto Insurance in Oregon?

A good strategy to find the best auto insurance in Oregon is to get multiple quotes from some of the best insurance companies in the state. Since each insurer uses their own method of setting premiums, you should be given a number of options and be able to choose the one that gives you the most affordable premium rate.

What is the cheapest auto insurance in Oregon?

There are a number of insurers that write cheap policies in Oregon. A good place to start your search is on Bankrate’s page for the cheapest auto insurance in Oregon in 2021. Any of the companies we recommend can provide you with a policy that is inexpensive but offers good coverage.

How Much Do I Pay for Oregon Auto Insurance?

The average cost for full coverage in Oregon is $ 1,346 per year, which is below the US average of $ 1,674. Your own tariff will depend on a number of factors, such as: B. The age and model of your car and personal characteristics such as your own age, marital status and creditworthiness.

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