Save on 2010 Mazda MX-5 Miata Insurance Cost

Looking for cheaper insurance coverage rates for your Mazda MX-5 Miata? Nobody looks forward to paying for insurance coverage, in particular when the cost is way too high.

You have multiple insurance companies to pick from, and even though it’s nice to have multiple companies, it can be more challenging to compare rates and find the lowest cost insurance coverage.

You should take the time to compare prices yearly because rates are usually higher with each renewal. Just because you found the lowest rates on MX-5 Miata insurance six months ago the chances are good that you can find a lower rate today. So just forget all the misinformation about insurance coverage because you’re going to learn the best methods to find lower rates on insurance coverage.

How to Compare Insurance Quotes

The are a couple different ways to compare quotes and find the best price. The easiest way by far to find competitive 2010 Mazda MX-5 Miata insurance rates involves getting comparison quotes online. It is quite easy and can be accomplished in just a few minutes using one of these methods.

  • One of the best ways to get quotes for comparison would be an industry-wide quote request form click to view form in new window. This type of form prevents you from having to do a different quote to each individual insurance company. Filling out one form will return price quotes from all major companies.
  • A harder way to compare rate quotes is to take the time to go to each company website to request a price quote. For examples sake, let’s say you want comparison quotes from Auto-Owners, Safeco and GMAC. To get rate quotes you would need to visit each site to enter your coverage information, which is why most consumers use the first method.

    To view a list of companies in your area, click here.

  • The least recommended method to get comparison rates is to waste gas driving to and from local insurance agencies. Buying insurance online eliminates the need for an insurance agent unless you have a need for the professional advice only provided by licensed agents. You can, however, find lower rates online but still have the advice of a local agent and we’ll cover that in a bit.

However you get your quotes, compare apples-to-apples coverages and limits with each company. If you enter higher or lower deductibles it’s impossible to decipher which rate is best. Slightly different coverages can make a big difference in price. Keep in mind that more quotes gives you a better chance of getting a better price.

Can switching companies really save?

Auto insurance companies such as 21st Century, Allstate and State Farm consistently run ads in print and on television. They all seem to make an identical promise of big savings if you change to their company. How does each company make almost identical claims? It’s all in the numbers.

Insurance companies can use profiling for the driver they prefer to insure. A good example of a desirable insured might be profiled as over the age of 50, owns a home, and has a high credit rating. Any new insured who matches those parameters receives the best rates and most likely will save when they switch companies.

Potential customers who don’t qualify for the “perfect” profile must pay higher rates which leads to the customer not buying. The ads say “drivers who switch” not “everyone that quotes” save that much money. This is how insurance companies can claim big savings. This illustrates why drivers must get as many comparisons as possible. It’s impossible to know which auto insurance company will provide you with the cheapest Mazda MX-5 Miata insurance rates.

What determines your Mazda MX-5 Miata insurance premium

Consumers need to have an understanding of the rating factors that go into determining the rates you pay for insurance. Understanding what influences your rates empowers consumers to make smart changes that could result in big savings.

  • Discounts for multiple policies – The majority of insurance companies will give a discount to people who buy several policies from them. It’s known as a multi-policy discount. Discounts can be 10 percent or more. Even with this discount, you may still want to compare rates to confirm you are receiving the best rates possible. Consumers may find a better deal by splitting coverages up.
  • How your age affects price – Youthful drivers tend to be more careless when driving so they pay higher insurance rates. Parents adding a teen driver to your insurance policy can really hurt. More mature drivers are viewed as being more responsible, tend to cause fewer accidents and get fewer tickets.
  • Lower deductibles cost more – The deductibles represent how much money you are willing to pay out-of-pocket before a claim is paid by your company. Coverage for physical damage, otherwise known as comp (or other than collision) and collision, insures against damage to your car. A few examples of covered claims are colliding with a building, damage from fire, and windstorm damage. The higher the amount you have to pay, the less your insurance will be on MX-5 Miata insurance.
  • Better crash test results mean better rates – Vehicles with good safety scores get lower rates. Safer cars reduce injuries and any reduction in injury severity translates into savings for insurance companies and lower rates for you. If your Mazda MX-5 Miata has ratings of a minimum four stars on it may be receiving lower rates.
  • Protect your assets with liability insurance – Liability insurance is the protection if a court rules you are at fault for personal injury or accident damage. Liability insurance provides legal defense up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so buy as much as you can afford.
  • Being married is a good thing – Getting married can actually save you money on insurance. Marriage translates into being more mature than a single person and statistics show drivers who are married are more cautious.

Don’t overlook these discounts

Companies that sell car insurance don’t always list all available discounts in a way that’s easy to find, so we break down both well-publicized and the more hidden savings tricks you should be using.

  • No Charge for an Accident – A few companies permit an accident before your rates go up if you are claim-free prior to the accident.
  • Senior Citizens – Mature drivers may qualify for reduced rates on MX-5 Miata insurance.
  • Seat Belt Usage – Buckling up and requiring all passengers to use a seat belt can save 10% or more off your medical payments premium.
  • Military Rewards – Being on active duty in the military can result in better rates.
  • Sign Early and Save – Some companies give discounts for switching policies prior to your current policy expiring. It can save you around 10%.
  • Drivers Ed for Students – Have your child take driver’s ed class if offered at their school.
  • More Vehicles More Savings – Buying coverage for multiple cars or trucks on one policy may reduce the rate for each vehicle.
  • Passive Restraints – Factory air bags or motorized seat belts can get savings up to 30%.

It’s important to understand that most discounts do not apply the the whole policy. Most cut the price of certain insurance coverages like comprehensive or collision. Just because it seems like all the discounts add up to a free policy, companies don’t profit that way.

Car insurance companies that may offer these benefits include:

Check with every prospective company which discounts you may be entitled to. Savings may not apply in your state.

Is my situation unique?

When choosing the best auto insurance coverage, there isn’t really a best way to insure your cars. Everyone’s situation is unique so this has to be addressed. Here are some questions about coverages that can aid in determining whether or not you could use an agent’s help.

  • Do I need added coverage for expensive stereo equipment?
  • Am I covered when delivering products for my home-based business?
  • Am I covered if I hit my neighbor’s mailbox?
  • When can my company non-renew my policy?
  • How high should my uninsured/underinsured coverage be in my state?
  • Am I covered if my car is in a flood?
  • Do I need an umbrella policy?
  • What if I owe more than I can insure my car for?
  • Do I need medical payments coverage since I have good health insurance?

If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an insurance agent. To find an agent in your area, take a second and complete this form or go to this page to view a list of companies.

Information about specific coverages

Having a good grasp of your policy helps when choosing which coverages you need for your vehicles. Policy terminology can be confusing and reading a policy is terribly boring. Listed below are typical coverage types offered by car insurance companies.

Medical expense coverage

Coverage for medical payments and/or PIP pay for immediate expenses for things like ambulance fees, dental work and EMT expenses. They are used in conjunction with a health insurance policy or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage

Collision coverage protection

Collision coverage covers damage to your MX-5 Miata resulting from a collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers claims such as sustaining damage from a pot hole, damaging your car on a curb, driving through your garage door and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. You can also bump up the deductible to save money on collision insurance.

Liability insurance

This coverage will cover injuries or damage you cause to other’s property or people by causing an accident. It protects YOU from claims by other people. It does not 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. Your policy might show values of 50/100/50 that means you have $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery.

Liability coverage pays for claims such as emergency aid, attorney fees, court costs, repair bills for other people’s vehicles and structural damage. How much liability coverage do you need? That is up to you, but you should buy as much as you can afford.

Comprehensive protection

Comprehensive insurance covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things such as hitting a bird, hitting a deer, theft, hail damage and a broken windshield. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Uninsured or underinsured coverage

This coverage gives you protection from other drivers when they do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as damage to your Mazda MX-5 Miata.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea.

You can do this!

When buying insurance coverage, it’s a bad idea to reduce coverage to reduce premium. In too many instances, someone dropped liability limits or collision coverage only to regret at claim time that a couple dollars of savings turned into a financial nightmare. The aim is to find the BEST coverage at the best price.

Lower-priced 2010 Mazda MX-5 Miata insurance is definitely available both online and also from your neighborhood agents, and you should be comparing both in order to have the best chance of saving money. There are still a few companies who may not provide the ability to get a quote online and most of the time these small insurance companies sell through independent agents.

In this article, we covered a lot of ways to shop for insurance online. It’s most important to understand that the more times you quote, the higher the chance of saving money. Consumers could even find that the best price on insurance is with some of the lesser-known companies. Some small companies often have lower prices on specific markets than their larger competitors like State Farm and Allstate.

Other articles