Cheaper 2002 Mazda MX-5 Miata Car Insurance Rates

Looking for the cheapest auto insurance rates for your Mazda MX-5 Miata? Are you sick and tired of being strong-armed to pay your car insurance bill each month? You’re in the same situation as many other drivers. Popular companies such as Progressive, GEICO and Farmers Insurance all claim big savings with ad campaigns and it is challenging if not impossible to ignore the promise of big savings and take the time to shop coverage around.

Consumers should take time to price shop coverage occasionally because rates are adjusted regularly by insurance companies. If you had the best rates on MX-5 Miata insurance a couple years back you may be paying too much now. Forget anything you know (or think you know) about auto insurance because I’m going to let you in on the secrets to the only way to lower your rates without sacrificing coverage.

Comparison of Insurance

There are a lot of ways you can shop for insurance but there is one way that is less time-consuming than others. You can spend countless hours talking about coverages with agents in your area, or you can stay home and use online quotes to achieve your goal.

The majority of car insurance companies take part in a program where insurance shoppers enter their policy data once, and each company then gives them pricing based on that information. This system prevents you from having to do quote requests for every insurance company.

To use this form to compare 2002 Mazda MX-5 Miata insurance rates click here to start a free quote.

One minor caviat to using this type of form is you can’t choose the providers you want pricing from. If you prefer to choose specific insurance companies to compare rates, we have assembled a list of the cheapest insurance companies in your area. Click to view list.

It doesn’t matter which method you choose, just make absolute certain that you use exactly the same coverage information on every quote you get. If you have unequal deductibles or liability limits then you won’t be able to determine the best price for your Mazda MX-5 Miata.

Take discounts and save

The cost of insuring your cars can be expensive, but there are discounts available that you may not know about. Most are applied when you quote, but less common discounts must be asked about prior to getting the savings. If you’re not getting every credit you deserve, you’re just leaving money on the table.

  • Pay Upfront and Save – If you pay your bill all at once instead of making monthly payments you could save 5% or more.
  • Paperwork-free – Certain companies will discount your bill up to fifty bucks just for signing your application over the internet.
  • Multi-car Discount – Insuring more than one vehicle with the same company can get a discount on all vehicles.
  • Multiple Policy Discount – If you have multiple policies with the same company you may earn 10% to 20% off each policy.
  • Student Driver Training – Cut your cost by having your teen driver successfully complete driver’s ed class if offered at their school.
  • Life Insurance Discount – Some companies give a break if you buy a life insurance policy as well.
  • No Claims – Drivers who don’t have accidents can earn big discounts when compared with accident-prone drivers.
  • Homeowners Savings – Simply owning a home can help you save on insurance because maintaining a house demonstrates responsibility.

As a disclaimer on discounts, many deductions do not apply to your bottom line cost. Most cut specific coverage prices like physical damage coverage or medical payments. So when the math indicates you could get a free insurance policy, insurance companies aren’t that generous. But any discount will bring down the cost of coverage.

Insurance companies that may have these money-saving discounts include:

Check with all companies you are considering how you can save money. Savings might not apply everywhere.

Which policy gives me the best coverage?

When choosing the best car insurance coverage, there isn’t really a one size fits all plan. Everyone’s situation is a little different and a cookie cutter policy won’t apply. For instance, these questions might help in determining whether you could use an agent’s help.

  • Should I bundle my homeowners policy with my auto?
  • Am I covered if I hit my neighbor’s mailbox?
  • Am I covered when delivering products for my home-based business?
  • Do I need special endorsements for business use of my vehicle?
  • Should I file a claim if it’s only slightly more than my deductible?
  • Are rental cars covered under my policy?
  • What are the best liability limits?

If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It only takes a few minutes and can help protect your family.

What determines your Mazda MX-5 Miata insurance premium

An important part of buying insurance is that you know the rating factors that come into play when calculating the rates you pay for auto insurance. When you know what positively or negatively impacts premium levels empowers consumers to make smart changes that could result in big savings.

The list below includes some of the items used by your company to calculate premiums.

  • Keep rates low by being claim-free – Companies generally give lower rates to drivers who are claim-free. If you tend to file frequent claims, you can definitely plan on either higher rates or even cancellation. Car insurance is intended to be relied upon for the large, substantial claims.
  • Do you have a high stress job? – Jobs such as lawyers, business owners and accountants are shown to have higher rates than average due to high stress and lots of time spent at work. On the flip side, occupations such as pilots, athletes and retirees pay the least on MX-5 Miata insurance.
  • A clean driving record saves money – Drivers with clean records receive lower rates than people who have multiple driving citations. Even one ticket may increase your cost by as much as thirty percent. Drivers who have severe citations such as hit and run, DWI or reckless driving convictions may need to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to drive a vehicle legally.
  • Battle of the sexes – Statistics show that women are safer drivers than men. Now that doesn’t mean women are BETTER drivers than men. They both have accidents at about the same rate, but the males tend to have more serious accidents. They also receive more costly citations such as reckless driving.
  • Special features that cut premiums – Purchasing a vehicle with a theft deterrent system can help lower your rates. Anti-theft features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping your car from being stolen.
  • How your age affects price – Teen drivers are known to be less responsible when driving so they pay higher auto insurance rates. Adding a teenage driver to your auto insurance policy can break the bank. More mature drivers tend to be more responsible, tend to file fewer claims and tend to be better behind the wheel.
  • A lapse in coverage is a bad thing – Driving with no insurance is illegal and your next policy will cost more because you let your insurance lapse. And not only will your rates increase, getting caught without coverage might get you a steep fine or even jail time.

Save 15 percent in 15 minutes? Is it for real?

Consumers can’t ignore all the ads for the lowest price auto insurance by companies like State Farm and Allstate. They all make the same claim about savings if you change to them.

How can each company make the same claim? This is how they do it.

All companies have a preferred profile for the type of driver that makes them money. A good example of a desirable insured could possibly be over the age of 50, has no prior claims, and has a short commute. A customer who matches those parameters will get very good rates and is almost guaranteed to pay quite a bit less when switching companies.

Consumers who don’t measure up to this ideal profile must pay a higher premium which leads to the customer not buying. The ad wording is “people who switch” but not “drivers who get quotes” save that much money. That is how companies can truthfully make those claims.

This illustrates why drivers should get a wide range of price quotes. It is impossible to predict which car insurance company will fit your personal profile best.

Insurance coverage options for a Mazda MX-5 Miata

Having a good grasp of your policy aids in choosing which coverages you need for your vehicles. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Listed below are typical coverage types found on the average insurance policy.

Uninsured/Underinsured Motorist coverage – This coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as your vehicle’s damage.

Due to the fact that many drivers only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally the UM/UIM limits are identical to your policy’s liability coverage.

Collision coverage – This coverage covers damage to your MX-5 Miata caused by collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims such as rolling your car, backing into a parked car, hitting a mailbox, damaging your car on a curb and crashing into a building. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. You can also raise the deductible in order to get cheaper collision rates.

Medical payments coverage and PIP – Coverage for medical payments and/or PIP provide coverage for expenses like dental work, nursing services, rehabilitation expenses and EMT expenses. They are utilized in addition to your health insurance program or if you lack health insurance entirely. They cover you and your occupants in addition to getting struck while a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Liability – Liability insurance protects you from damage or injury you incur to other’s property or people by causing an accident. It protects YOU against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 25/50/25 which stand for a limit of $25,000 per injured person, $50,000 for the entire accident, and property damage coverage for $25,000. Some companies may use one limit called combined single limit (CSL) that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability coverage protects against claims like legal defense fees, loss of income, emergency aid and repair costs for stationary objects. How much liability coverage do you need? That is up to you, but consider buying as large an amount as possible.

Comprehensive coverage – This pays to fix your vehicle from damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims such as damage from flooding, vandalism and hail damage. The most a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.

Do the work, save more money

While you’re price shopping online, it’s very important that you do not reduce needed coverages to save money. In many cases, an insured cut full coverage and found out when filing a claim that it was a big error on their part. Your focus should be to purchase a proper amount of coverage at an affordable rate.

Cheap 2002 Mazda MX-5 Miata insurance is attainable on the web and with local insurance agents, so you should compare both to get a complete price analysis. Some insurance coverage companies do not offer online quoting and many times these regional insurance providers only sell through independent insurance agents.

Additional information can be found on the following sites: