Oregon Median Auto Insurance Rate Now $577 per Household

The median six-month auto insurance rate in Oregon has decreased approximately 4.3 percent over the past six months to reach $577 according to InsWeb, an online insurance comparison provider.

InsWeb also reported Oregon median auto insurance rates segmented by specific demographic groups. These include:

• Men in Oregon pay a median auto insurance rate that is almost 11 percent higher than the rate paid by women.
• Drivers in Oregon 19 years of age and younger pay a median auto insurance rate that is approximately two and a half times higher than the rate paid by drivers ages 50 to 59.
• The Oregon median auto insurance rate decreased more than the national rate over the same period — 4.3 percent versus 2.3 percent respectively.
• An Oregon household that pays the six-month median rate of $577 and earns the Oregon household median annual income of $39,649 pays approximately 2.9 percent of its gross income for car insurance. By this “affordability factor,” Oregon is the 18th most affordable state to insure a vehicle. Currently, Massachusetts is the most affordable state with a factor of 1.9 percent, while Louisiana is the most expensive with a factor of 6.9 percent.
• Oregon drivers who want to learn more about saving on their auto insurance and compare insurance quotes from leading national providers can visit InsWeb.com.

InsWeb owns and operates a network of insurance marketplace and education Web sites. To determine median national auto insurance rates, InsuranceRates.com uses comprehensive profiles of InsuranceRates.com customers as well as a proprietary system that tracks the rating algorithms of multiple insurance carriers in each state. Median rates are determined using actual customer profiles that can include multiple drivers, multiple vehicles and other variables.

Topics Auto Oregon