By: Shravya Reddy October, 04, 2019
Surrounded by several dormant and active volcanoes, Portland is the largest and most populous city in Oregon. The average cost of car insurance in Portland is $1109 per year. Depending on various factors (not limited to) such as age, gender, driving history, coverage type and location, Portlanders could pay as high as $1998 and as low as $766 in annual car insurance costs. Allstate's 15th annual America's Best Driver's report listed Portland as the 181st safest driving city out of 200 largest cities in the U.S. Based on claims submitted, Portland also came in last among the largest cities in the Pacific Northwest-based on the insurance agency's analysis of crash frequency. The national average is one crash every 10.6 years, whereas the average Portland driver is involved in an accident every seven years. High claims can lead to an increase in premiums. However, by comparing quotes and reviews, Portland drivers can save $440 on insurance. Using market share data gathered for Oregon, Zimlon reviews the top five car insurance companies in Portland.
State Farm- State Farm has the largest market share of 19.2% in Oregon. Scoring high in the J.D. Power Auto Claims Satisfaction study, State Farm reported 401,871 in direct premiums written and 406,715 direct premiums earned in 2018. The insurance company offers a multitude of discounts for safe drivers such as Drive Safe & Safe and Steer Clear. State Farm also lowers insurance premium if there is an anti-theft device installed on the vehicle. Best known for its wide-share coverage for drivers in Portland, the company received A++ in A.M. Best financial strength ratings.
Progressive- Progressive enjoys a market share of 15.5% having written 326,095 direct premiums and 310,070 direct premiums earned. Offering a live chat option on their website, Progressive makes it easy for drivers in Portland to get an instant quote online. Using Progressive's Snapshot Program, drivers can pay based on their driving record. Along with an impressive array of discounts in auto insurance, Progressive has an A.M. Best financial strength rating of A+.
GEICO- With a market share of 10% in Oregon, the Berkshire Hathaway subsidiary is another popular choice for car insurance in Portland. The company reported 209,134 direct premiums written, and 204,143 direct premiums earned. Portlanders can use GEICO'S award-winning mobile app to make payments etc. Customers can also sync their voice with the GEICO Skill for Amazon Alexa or GEICO Google Action. The company also enjoys an A++ A.M. Best financial strength rating.
Farmers- Recognized for offering personalized coverage options, Farmers Insurance has a 9% market share in Oregon. In 2018, the company recorded 189,473 direct premiums written and 191,299 direct premiums earned. Farmers Insurance also offers Portlanders unique features such as speeding ticket forgiveness and other services like towing and roadside assistance. A.M. Best has given them an A in financial strength ratings.
Liberty Mutual- Known for its easy online-quote process, Liberty Mutual has an 8.5% market share when it comes to car insurance in Oregon. In 2018, the company recorded 179,218 direct premiums written and 179,660 direct premiums earned. The company offers an extensive range of discounts based on the driver's requirement, including hybrid vehicle discounts, teen driver discounts, and newly retired discount. Reaffirming their popularity with Portland drivers, A.M. Best rating awarded Liberty Mutual with A in financial strength rating.
Shravya Reddy is a writer, public relations associate and content producer. She has worked in the corporate space on various mediums of print media as well as digital media. As a journalist, she has covered a range of topics including real estate, architecture, design, and technology. She has contributed to various online publications as a copywriter and copy editor. Shravya has done her BA in Journalism, Film & Media from Cardiff University. In her spare time, she enjoys traveling, exploring new cuisines and culture and wildlife.