Lower Your 1997 Mazda MX-5 Miata Insurance Cost

Searching for lower insurance rates for your Mazda MX-5 Miata? Feel like you’re a prisoner to overpriced insurance? Believe me, many consumers feel financially strained by their insurance policy.

With so many insurance companies to choose from, it can be hard to locate the most cost effective insurer.

More discounts equal less premium

Properly insuring your vehicles can get expensive, but you may find discounts to cut the cost considerably. A few discounts will automatically apply when you purchase, but less common discounts must be asked for before you get the savings.

  • Payment Method – If you pay your bill all at once rather than paying monthly you may reduce your total bill.
  • Claim Free – Drivers who don’t have accidents pay much less compared to frequent claim filers.
  • Memberships – Participating in a professional or civic organization may earn a discount on car insurance on MX-5 Miata insurance.
  • Drive Safe and Save – Drivers who avoid accidents may receive a discount up to 45% less on MX-5 Miata insurance than drivers with accident claims.
  • Accident Forgiveness – A few companies allow you one accident before hitting you with a surcharge so long as you haven’t had any claims for a set time period.
  • Seat Belt Usage – Buckling up and requiring all passengers to use a seat belt could save 15% off the personal injury premium cost.
  • Multi-policy Discount – If you insure your home and vehicles with the same company you may save at least 10% off all policies.
  • Early Signing – A few companies offer discounts for switching policies prior to your current policy expiration. This can save 10% or more.

Drivers should understand that most discount credits are not given to the entire cost. A few only apply to the price of certain insurance coverages like comp or med pay. So even though it sounds like all those discounts means the company will pay you, it just doesn’t work that way. Any qualifying discounts will help reduce your overall premium however.

For a list of companies offering car insurance discounts, follow this link.

It’s not one size fits all

When it comes to choosing coverage, there isn’t really a “perfect” insurance plan. Your needs are not the same as everyone else’s and your policy should reflect that. For instance, these questions may help highlight if your insurance needs may require specific advice.

  • If my pet gets injured in an accident are they covered?
  • Are rock chip repairs covered?
  • Does insurance cover damages from a DUI accident?
  • Am I covered if my car is in a flood?
  • Why am I required to get a high-risk car insurance policy?
  • Who is covered by my policy?
  • Is my cargo covered for damage or theft?
  • When can my company non-renew my policy?
  • Is borrowed equipment or tools covered if stolen or damaged?

If you can’t answer these questions but a few of them apply, you might consider talking to an agent. To find an agent in your area, take a second and complete this form or click here for a list of insurance companies in your area.

Insurance coverage basics

Having a good grasp of your policy helps when choosing appropriate coverage and the correct deductibles and limits. Insurance terms can be difficult to understand and nobody wants to actually read their policy. These are typical coverage types available from insurance companies.

Coverage for collisions

Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things such as hitting a parking meter, driving through your garage door, crashing into a ditch and colliding with a tree. This coverage can be expensive, so consider removing coverage from lower value vehicles. Another option is to bump up the deductible to save money on collision insurance.

Comprehensive insurance

This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like rock chips in glass, hitting a bird and vandalism. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Coverage for liability

This will cover injuries or damage you cause to people or other property by causing an accident. It protects YOU from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 100/300/100 that means you have a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property. Some companies may use one number which is a combined single limit which combines the three limits into one amount without having the split limit caps.

Liability coverage pays for claims such as emergency aid, bail bonds and attorney fees. How much liability coverage do you need? That is a decision to put some thought into, but consider buying as large an amount as possible.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage provides protection when other motorists are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries and damage to your Mazda MX-5 Miata.

Due to the fact that many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Normally these limits are similar to your liability insurance amounts.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage reimburse you for bills for ambulance fees, doctor visits, rehabilitation expenses and chiropractic care. They can be utilized in addition to your health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and may carry a deductible

In conclusion

Budget-conscious 1997 Mazda MX-5 Miata insurance can be sourced on the web in addition to many insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. Some insurance companies do not provide online quoting and usually these small insurance companies provide coverage only through local independent agents.

In this article, we presented many ways to get a better price on insurance. The key concept to understand is the more providers you compare, the better likelihood of reducing your rate. Drivers may discover the most savings is with the least-expected company. These smaller insurers may often insure only within specific states and give getter rates than the large multi-state companies such as GEICO and State Farm.

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