How Much Does Car Insurance Cost for 16 Year Olds in Oregon?

Wouldn’t it be so easy if you could just know the one company that has the best auto insurance prices for 16 year olds? It’s not quite that easy, unfortunately, as there are many unknown factors such as if you are married or single, whether or not you are currently insured, and if you are requesting full coverage. If you keep reading, we will teach you about these things and will hopefully give you a good beginning to your quest for cheaper car insurance in Oregon.

The safety and performance level of the vehicle that needs insurance is one of the largest factors when quoting the cheapest coverage for 16 year olds. Vehicles with high performance features, a lack of safety features, or a track record of large liability claims will cost more to insure than safer models.

The tables below illustrates insurance premiums for the cheaper vehicles to buy insurance for.

Data assumes single female driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and Oregon minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in specific Oregon garaging location which can increase or decrease premium rates substantially.

Data rating is based on single female driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and Oregon minimum liability limits. Discounts applied include claim-free, and safe-driver. Estimates do not factor in vehicle garaging location which can increase or decrease prices substantially.

Data variables include single female driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and Oregon minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in vehicle garaging location which can change auto insurance rates considerably.

Establishing which companies quote the cheapest auto insurance rates for 16 year olds calls for a tad more effort in order to find the lowest price. Each insurance company has a unique formula to determine rates, so let’s take a look at the auto insurance companies with the most affordable rates in Oregon.

It’s important that readers know that Oregon auto insurance rates are determined by lots of factors that may substantially change the price you pay. Simply having another birthday, buying a home instead of renting, or getting a ticket for careless driving can trigger rate changes that can cause some rates to be much cheaper than others.

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Grange generally has some of the best car insurance rates in Oregon at around $687 a year. Country, Oregon Mutual, Travelers, and USAA would also be considered some of the cheaper Oregon insurance companies.

In the rate table above, if you currently have coverage with Oregon Mutual and switched to Grange, you might see an annual savings of roughly $166. Customers with Travelers could save as much as $255 a year, and USAA policyholders might reduce rates by $283 a year.

Remember that these estimates are averages across all drivers and vehicles in Oregon and do not factor in a price surcharge for 16 year olds. So the insurer that is best for you may not even be featured in the list of companies above. That helps illustrate why you need to get car insurance quotes using your own driver and vehicle profiles.

Do you need full coverage?

Finding cheap auto insurance for 16 year olds in Oregon is probably important to the majority of drivers, and one of the best ways to find cheap insurance is to buy only liability coverage. The chart below illustrates the difference between insurance premiums with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are factored in.

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If the expense is averaged for all age categories, full coverage costs an additional $1,791 per year more than buying just liability insurance. Many drivers may wonder if buying full coverage is a good investment. There is no definitive rule of when to drop physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is more than 10% of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.

There are some conditions where dropping physical damage coverage is not a good idea. If you haven’t paid off your loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.

State Farm, Allstate, Geico, and Progressive: Who is cheapest?

When it comes to buying car insurance for new drivers, the most popular companies are State Farm, Allstate, Geico, and Progressive. The data below compares price, claims, and customer service ratings, as well as some optional coverages shoppers can find with each company.