Cheap Auto Insurance Oregon
Reader’s Question:
My brother mentioned something about changing my deductible amount to lower my auto insurance premium here in Oregon. Can you tell me anything about this?
Virginia
Beaverton, OR
Hello, Virginia. Your brother is right. There is a way to lower your auto insurance premium rate by using your deductible. A deductible is the amount you have to pay first before your auto insurance starts paying. If the agreed deducible is $300 and the repair cost is a thousand dollars, you’ll have to shell out your $300 first before the auto insurance coverage takes care of the rest of the payment.
What usually happens is if you raise your deductible, if you raise the amount you have to pay before the auto insurance takes over, the auto insurance premium will be lower. You see, if the deductible is high, the auto insurance company believes that you will be a very safe driver since you are going to be paying a large amount if any accident occurs before they pay for anything. That’s a very simple way of stating it, but that’s one of the reasons. Auto insurance companies need to be assured that you are going to be a safe driver. If you assure them that you are going to be careful by raising your stake in the repair payment of your car, your risk factor will not be so high, and your auto insurance premium rate will go down accordingly.
High deductible, low auto insurance premium rate. Talk to your auto insurance agent in Oregon about this.
Tags: auto insurance premium, car insurance rate, deductible
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