Cancel credit insurance in Oregon
General information, not legal advice. Laws change. Facts last checked on 13 November 2026 against the sources linked.
We name no lender and sell nothing.
Oregon's 2026 legislative session amended or repealed some sections in the chapters we cite. We read the 2025 edition of those chapters and could not confirm whether any section below changed. Check the linked law before you rely on a number of days or a fee.
Credit life and credit disability insurance
If this insurance ends early, any refund must be paid or credited promptly, unless it is below a minimum the state sets.
If you pay the loan off early, the refund must be made within 30 days after the loan ends.
Our summary of the law and state rule quoted below. Your contract says what applies to you.
Optional? When you apply, you must be told in writing that this coverage is optional; if a lender does require insurance as extra security, you may use a policy you already have or another authorized insurer.
“The refund shall be made not later than the 30th day after the loan is terminated.”
More from the law (4)
“the Director of the Department of Consumer and Business Services shall prescribe a minimum refund and no refund which would be less than such minimum need be made.”
Oregon Revised Statutes 743.378(1)
“of the optional nature of the coverage, the eligibility requirements, and the policy limitations and exclusions.”
Oregon Administrative Rules 836-060-0060(1) and Exhibit 1
“You ARE NOT required to buy credit life insurance or credit health insurance from any particular insurance company or agent.”
Oregon Administrative Rules 836-060-0060(1) and Exhibit 1
“the creditor shall give the debtor the option of furnishing the required amount of insurance through existing policies”
- Who to ask: Division of Financial Regulation (part of DCBS) 888-877-4894(for problems with finance and insurance industries)
Not covered yet
These pages do not yet cover paint and fabric protection, tire and wheel protection, key replacement, theft etching or prepaid maintenance plans, and state no rule for them. For questions, read the contract or ask the offices below.
- Paint and fabric protection
- Tire and wheel protection
- Key replacement
- Theft etching
- Prepaid maintenance plans