Auto Insurance in Springfield, OR
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Driving in Springfield
There are nearly 63,000 citizens of Springfield, Oregon, living in the modern town where pioneers rolled in with covered wagons back in 1848. With driving such an important part of Springfield's history and culture, the residents of the city own an average of two vehicles per household. At VIU by HUB, we're happy to help insure the cars of Springfield and keep the residents on the road!
Why You Need Car Insurance in Springfield, OR
Car insurance is expensive, and you may wonder if the benefits are worth the cost. The truth is, car insurance in Springfield, Oregon offers valuable protection not only for your car, but for your personal financial situation as well. In addition, it's mandatory in the state of Oregon. Here are some reasons why car insurance is a necessity, not a luxury:
- Legal requirement: The state of Oregon requires drivers to maintain current auto liability insurance policies with set minimum limits. Drivers caught without a current policy face fines between $130 and $1,000, a one-year license suspension, vehicle registration suspension, three-year SR-22 certificate requirement, and reinstatement fees. The following minimum amounts are required:
- $25,000 for death or injury of one person
- $50,000 for death or injury of more than one person
- $20,000 for property damage
- Lender requirement: If you finance or lease your vehicle, you may be required by your lender to obtain comprehensive and collision coverage. Because the leasing agent or lender holds the lien on your vehicle while you are paying for it, car insurance in Springfield provides protection for their investment, paying for replacement or repair in the event of a loss.
- Personal injury protection: Oregon requires drivers to hold a minimum of $15,000 in personal injury coverage.
- Passenger protection: Personal injury protection and medical payments coverage can pay medical expenses for you and your passengers after an accident.
- Uninsured motorist protection: The state of Oregon requires you to purchase uninsured motorist coverage of at least $25,000 per person and $50,000 per accident to protect you in the event of an accident caused by an uninsured or underinsured driver.
- Repair coverage: Even if your vehicle is paid for, you may elect to carry collision and comprehensive coverage on your vehicle to help pay for repairs or replacement in the event of theft or non-collision damage.
Factors That Affect Premiums
Car insurance premiums may seem expensive, and you may be tempted to reduce your coverage to lessen the financial burden, but it's important to understand that there are several factors that affect your rates. Here are some of them:
- Age and gender: young drivers with little experience frequently pay higher rates for car insurance in Springfield than older drivers.
- Place of residence: Those who live in urban areas with higher accident rates, vandalism and theft often pay higher insurance rates.
- Type of car: Certain car types are more expensive to insure. Look for discounts for built-in security features.
- Driving record: new drivers and those with multiple accidents will pay more for insurance than experienced drivers with clean records.
- Driving habits: How much you use your car plays a role in setting premium rates. Those with long commutes will typically pay more than infrequent drivers.
- Type of coverage: The coverages, limits, and deductibles that you choose will impact the overall expense of your insurance policy.
This information is intended for general informational purposes only and is not intended to constitute legal advice.