Oregon drivers are reportedly spending less than the national average for personal automobile insurance, according to a recent report comparing premiums nationwide.
The estimated average expenditure per insured vehicle for personal auto insurance in Oregon was $682 in 2002, compared with the national average of $774. The report is prepared annually by the National Association of Insurance Commissioners (NAIC), which is comprised of state insurance regulators.
“Oregonians benefit from having a stable, competitive marketplace,” said state Insurance Administrator Joel Ario. “Many companies sell auto insurance, and consumers may be able to save money by shopping around.”
According to the NAIC report, New Jersey drivers paid the most for auto insurance in 2002 with an estimated average expenditure of $1,113, more than twice the cost in North Dakota, which had the lowest average expenditure ($533).
Oregon auto insurance costs in 2002 were less than California ($778) and Washington ($788), but higher than Idaho ($560).
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