Oregon auto insurance laws

 The state's 3.1 million licenced drivers are aware that there are laws in place to protect them and their vehicles on the road. Insurance laws, for example, require all drivers to have a solid insurance policy with a certain amount of coverage. What is the significance of this? Take a look at the following Oregon statistics for 2018, the most recent year for which data is available:

Oregon auto insurance laws

There were 27,717 non-fatal injury crashes, 446 of which resulted in 502 fatalities, a 10.67 percent increase over the previous year. 

Crash injuries claimed the lives of 41,073 people. 

There were 826 bicycle accidents and 1,036 motorcycle accidents. 

Oregon auto insurance laws are intended to keep accidents to a minimum while still allowing people to get where they need to go on time. Meanwhile, Oregon auto insurance requirements ensure that drivers have the financial resources to pay for injuries and property damage caused by an accident.

Oregon's auto insurance laws
To comply with Oregon car insurance laws, you must have a policy that includes multiple types of coverage. The following are the minimum requirements for Oregon car insurance laws: 

Liability for bodily injury is $25,000 per person.
$50,000 in bodily injury liability per accident
Property damage liability of $20,000 per accident
Personal injury protection of $15,000 (PIP)
Uninsured motorist liability of $25,000 per person
Uninsured motorist liability of $50,000 per accident

Oregon liability insurance
The fundamental component of Oregon insurance laws is liability coverage, which simply means that you are responsible for something — in this case, any injuries or property damage that occur as a result of your fault in an accident. If you have liability insurance, you will not be forced to pay thousands of dollars if you cause an accident. In a serious accident, medical costs can be exorbitant; your liability protects you from having to pay them, up to the limits of your policy.

In some cases, the minimum required liability may not be sufficient. If you have the financial means, you may want to consider purchasing higher liability limits. Consider an accident that necessitates hospitalisation and surgery. Those expenses could easily exceed the $25,000 minimum liability. Consider the fact that the average price of a new car in the United States is more than $40,000. If you totaled another driver's car, the minimum liability of $20,000 would not cover the cost of a new one.

Other types of insurance are not required by law but are beneficial to have. Collision and comprehensive insurance, for example, will cover damage to your own vehicle as a result of an accident or mishap. Many insurers also offer new car replacement coverage, gap coverage, and roadside assistance.

Is it true that Oregon is a no-fault state? 

Oregon is not one of the 12  no-fault states in the United States. In a no-fault state, you file a claim with your own insurer after an accident, regardless of who was at fault. No-fault laws are intended to expedite claim payments and keep lawsuits out of the courts. 

As an at-fault state, liability claims in Oregon are handled by the insurance company representing the at-fault driver. If the at-fault driver does not have enough coverage to cover all costs, the other driver may sue to recover damages.

What is the most affordable car insurance in Oregon?
In Oregon, there are a number of insurers that offer low-cost policies. Bankrate's page on the Cheapest Car Insurance in Oregon for 2021 is a good place to start your search. Any of the companies we recommend can write you a policy that is both affordable and comprehensive.

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