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How auto insurance protects drivers and passengers in Oregon

On Behalf of | Sep 22, 2021 | Motor Vehicle Accidents |

Motor vehicle accidents happen every day on Oregon roads. In addition to expensive property damage, these accidents also result in serious personal injuries to vehicle occupants and pedestrians.

Auto insurance plays a key role in protecting accident victims from financial hardships.

The safety net of insurance

Bankrate explains the risks drivers face when they take to Oregon roads without insurance. An estimated 50,000 motor vehicle crashes happen each year in the state. Drivers who take to the roads without insurance face the prospect of tickets, fines and fees, but they also face more serious implications.

If a driver without insurance causes an accident, that person could face lawsuits requiring payments for the personal injuries and the property damage of the vehicle. Instead of coming from insurance payments, the money would come from the personal assets of the at-fault driver. In some cases, the driver might not have the resources to pay for the expenses.

Due to these factors, Oregon requires all drivers to purchase uninsured motorist coverage for $25,000 per person and $50,000 per accident. This covers the expenses for most (though not all) accidents.

The number of uninsured drivers

The Insurance Information Institute estimated that about one in eight drivers operates a motor vehicle without auto insurance. This figure comes in a bit lower than the year-by-year average going back to 1992. Some states have a high number of uninsured drivers, led by Mississippi and Michigan in 2019.

Just over 10% of Oregon drivers failed to hold the minimum auto insurance in 2019. Those without insurance could face lawsuits that might compromise their financial future.