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Oregon auto insurance laws
Oregon is a tort state, which means that Oregon drivers are financially responsible for the property damage and personal injury they may cause in an auto accident. Liability coverage is required to meet this responsibility, but drivers are also required to carry several policies for their own protection.
Oregon auto insurance laws require a minimum of 25/50/10 in liability coverage. (That's $25,000 per person for injuries you cause to the other party, up to $50,000 for all, and $10,000 for any damage that you cause to the other driver's car and/or property.)
Oregon auto insurance laws also require personal injury protection (PIP) up to a maximum of $10,000. This policy covers you and your passengers regardless of who was at fault in the accident. Benefits include limited coverage for medical expenses, loss of wages, loss of services, and funeral expenses. Some drivers may choose to lower their premium by applying a deductible to this coverage.
Finally, Oregon auto insurance law requires uninsured motorist bodily injury coverage of at least 25/50 ($25,000 for injuries per person, up to $50,000 total). This policy helps cover your medical expenses should you be in an accident with a driver without liability coverage.
Of course, these liability and uninsured motorist bodily injury limits are only minimums, and you should consider purchasing higher levels of coverage for increased protection.
Oregon auto insurance companies will also offer optional coverages such as collision, comprehensive, and uninsured motorist property damage.
Sidebar If you are an Oregon resident, you might be able to save on your policy premium by visiting Electric Insurance. Their policies are available only to better drivers, whose credit and driving records could be described as being at least good.
For better or for worse, the price of Oregon auto insurance is decided by the behavior of the state's drivers as a whole. Oregon auto insurance companies take the cost of providing insurance for Oregon drivers (this includes settlements and legal fees) and divide it up among the drivers.
But the cost isn't spread around evenly. Instead, the percentage you pay is decided by things like your driving record, your age, where you live, and the kind of car you drive.
Of course, not all auto insurance providers figure their percentages the same way. This means that they will charge different rates on the same driver.
What this means for you as a driver, is that you need to shop the different rates (and they'll be very different!) for the best deal. It's the fastest easiest way to save on an Oregon auto insurance policy. And you don't have to change a thing.
This wrebsite provides general information for educational purposes only and is not intended to be legal advice. We make no guarantees as to the validity of the information presented. Your particular facts and circumstances, and changes in the law, must be considered when applying insurance law. You should always consult with a competent auto insurance professional licensed in your state with respect to your particular situation.