1995 Mazda MX-5 Miata Insurance Cost – 8 Tips to Save

Looking for the cheapest car insurance rates for your Mazda MX-5 Miata? Finding the cheapest insurance for a Mazda MX-5 Miata could be an all-consuming task, but you can learn our car insurance buying tips to make it easier. There are both good and bad ways to compare car insurance rates and we’ll show you the proper way to price shop coverage for your Mazda and obtain the cheapest rates either online or from local insurance agents.

It’s a good habit to check car insurance prices yearly since insurance rates fluctuate regularly. Just because you found the best rates for MX-5 Miata insurance a few years ago there is a good chance you can find better rates now. So block out anything you think you know about car insurance because we’re going to show you one of the best ways to find lower rates on car insurance.

How to Get Cheap Car Insurance

All the larger car insurance companies such as 21st Century, Allstate and State Farm allow you to get coverage prices on the web. Getting quotes doesn’t take a lot of time as you just enter your personal and coverage information as requested by the quote form. After you complete the form, the system obtains information on your driving record and credit history and gives you a price quote based on these factors.

Quoting online makes it a lot easier to compare rates but the work required to visit each company’s website and repetitively fill out multiple forms gets old quite quickly. Unfortunately, it is important to compare as many rates as possible if you are searching for the lowest possible prices on car insurance.

There is a better way to compare rates

The preferred way to compare car insurance pricing makes use of a single form that obtains quotes from more than one company. It saves time, requires much less work on your part, and makes online price comparison much more efficient. Immediately after you send the form, it is rated and you can choose any or none of the quotes that you receive. If the quotes result in lower rates, you simply finish the application and purchase coverage. The whole process can be completed in less than 10 minutes and you’ll know if lower rates are available.

If you want to get comparison pricing now, click here to open in new window and enter your information. To compare your current rates, we recommend you replicate the coverage information identical to your current policy. Doing this guarantees you will have an apples-to-apples comparison for the exact same coverage.

More discounts equal less premium

Auto insurance companies don’t always list all available discounts in an easy-to-find place, so we break down some of the best known as well as the least known savings tricks you should be using. If they aren’t giving you every credit available, you’re paying more than you need to.

  • Auto/Home Discount – If you insure your home and vehicles with the same company you could get a discount of up to 20% off your total premium.
  • Air Bag Discount – Vehicles with factory air bags or motorized seat belts may earn rate discounts up to 30%.
  • Military Discounts – Having a deployed family member may qualify for rate reductions.
  • Paperwork-free – Some insurance companies may give you up to $50 just for signing your application online.
  • Anti-lock Brakes – Anti-lock brake equipped vehicles can avoid accidents and therefore earn up to a 10% discount.
  • Student in College – Youth drivers living away from home attending college without a vehicle on campus can be insured at a reduced rate.
  • Pay Now and Pay Less – If paying your policy premium upfront instead of paying each month you could save 5% or more.
  • New Vehicle Savings – Insuring a new car can save up to 30% compared to insuring an older model.

A little note about advertised discounts, most credits do not apply the the whole policy. Some only apply to individual premiums such as physical damage coverage or medical payments. So even though it sounds like all the discounts add up to a free policy, car insurance companies aren’t that generous.

To see a list of insurance companies who offer car insurance discounts, click here.

It’s not one size fits all

When buying the right insurance coverage, there is no “perfect” insurance plan. Everyone’s situation is unique.

Here are some questions about coverages that might help in determining whether or not you would benefit from professional advice.

  • What is medical payments coverage?
  • Do I have coverage when pulling a U-Haul trailer?
  • Is my 1995 Mazda MX-5 Miata covered for smoke damage?
  • Am I covered if my car is in a flood?
  • What is the difference between comprehensive and collision coverage?
  • Can I afford to pay high deductible claims out of pocket?
  • Should I have a commercial auto policy?
  • Do I need replacement cost coverage?
  • When should I not file a claim?
  • Why am I required to buy high-risk coverage?

If it’s difficult to answer those questions, you might consider talking to an agent. To find an agent in your area, complete this form. It is quick, free and can provide invaluable advice.

Information about specific coverages

Knowing the specifics of your policy helps when choosing which coverages you need and proper limits and deductibles. The terms used in a policy can be confusing and even agents have difficulty translating policy wording.

Uninsured or underinsured coverage

This protects you and your vehicle when the “other guys” do not carry enough liability coverage. Covered losses include injuries to you and your family as well as damage to your 1995 Mazda MX-5 Miata.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Liability insurance

This coverage provides protection from injuries or damage you cause to people or other property in an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and $50,000 of coverage for damaged propery.

Liability can pay for claims such as funeral expenses, medical services, bail bonds and emergency aid. How much coverage you buy is a personal decision, but consider buying as high a limit as you can afford.

Medical expense coverage

Coverage for medical payments and/or PIP pay for immediate expenses for surgery, chiropractic care, dental work, nursing services and rehabilitation expenses. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to all vehicle occupants as well as getting struck while a pedestrian. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage

Comprehensive protection

Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things like damage from getting keyed, damage from flooding and falling objects. The maximum payout a car insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Coverage for collisions

Collision insurance will pay to fix damage to your MX-5 Miata resulting from a collision with another vehicle or an object, but not an animal. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as sideswiping another vehicle, driving through your garage door, colliding with another moving vehicle and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to increase the deductible to get cheaper collision coverage.