2015 Mazda CX-5 Insurance Cost – 6 Policy Discounts

Buying the lowest cost insurance on the internet can seem to be rather challenging for beginners to buying insurance online. With so many insurance companies available, how can anyone effectively compare every one to find the best pricing?

You should make it a habit to do rate comparisons quite often because prices change frequently. Just because you had the best price for CX-5 insurance six months ago there may be better deals available now. There is a lot of bad advice regarding insurance on the web, but I’m going to show you some proven techniques to slash your insurance rates.

Locating more affordable protection is easy if you know what you’re doing. Basically, every vehicle owner who buys car insurance should be able to save money. But drivers can benefit from knowing how the larger insurance companies determine prices and take advantage of how the system works.

More discounts equal less premium

Insuring your vehicles can cost a lot, but you may find discounts that you may not even be aware of. Some discounts apply automatically when you purchase, but a few must be manually applied prior to getting the savings.

  • Drive Less and Save – Driving fewer miles could qualify for discounted rates on garaged vehicles.
  • Bundle and Save – When you combine your home and auto insurance with one company you could get a discount of at least 10% off all policies.
  • One Accident Forgiven – Some insurance companies permit an accident before raising your premiums as long as you don’t have any claims for a particular time prior to the accident.
  • Memberships – Participating in a qualifying organization could trigger savings when buying insurance coverage for CX-5 insurance.
  • Discount for Life Insurance – Select insurance companies reward you with better rates if you take out life insurance from them.
  • Discount for Good Grades – This discount can get you a discount of up to 25%. Earning this discount can benefit you up until you turn 25.

Consumers should know that many deductions do not apply to all coverage premiums. Most only reduce specific coverage prices like comp or med pay. Even though it may seem like adding up those discounts means a free policy, companies don’t profit that way. Any amount of discount will bring down your overall premium however.

Car insurance companies that may offer some of the above discounts are:

Before buying, ask all companies you are considering how you can save money. Some discounts might not be offered in your state.

It’s not one size fits all

When it comes to choosing coverage, there isn’t really a one size fits all plan. Every situation is different.

Here are some questions about coverages that may help highlight if your insurance needs could use an agent’s help.

  • Do I have any recourse if my insurance company denies a claim?
  • Will my insurance pay for OEM parts?
  • When should I not file a claim?
  • How does medical payments coverage work?
  • Does insurance cover damages from a DUI accident?
  • Are rental cars covered under my policy?
  • Are my friends covered when driving my car?

If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to a licensed agent. To find lower rates from a local agent, take a second and complete this form.

Ads can be misleading

Companies like 21st Century, Allstate and State Farm regularly use ads on TV and radio. All the ads say the same thing about savings if you move your policy. How can each company make the same claim?

Insurance companies have a certain “appetite” for the type of driver that is profitable for them. For instance, a profitable customer might be between the ages of 30 and 50, a clean driving record, and drives less than 7,500 miles a year. Any driver who matches those parameters receives the best rates and therefore will save quite a bit of money when switching.

Consumers who don’t measure up to the requirements will be charged more money which leads to business not being written. The ads say “people who switch” not “everybody who quotes” save money. That is how companies can truthfully make the claims of big savings.

That is why it’s extremely important to get as many quotes as possible. It’s not possible to predict which company will fit your personal profile best.

Insurance coverages explained

Knowing the specifics of insurance aids in choosing the right coverages at the best deductibles and correct limits. The terms used in a policy can be confusing and even agents have difficulty translating policy wording.

Uninsured or underinsured coverage – Your UM/UIM coverage provides protection when the “other guys” either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Mazda CX-5.

Because many people carry very low liability coverage limits, their limits can quickly be used up. So UM/UIM coverage is a good idea. Most of the time these limits do not exceed the liability coverage limits.

Collision – Collision insurance covers damage to your CX-5 caused by collision with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as hitting a mailbox, rolling your car and hitting a parking meter. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to choose a higher deductible in order to get cheaper collision rates.

Medical expense coverage – Coverage for medical payments and/or PIP provide coverage for expenses for things like prosthetic devices, hospital visits, nursing services, pain medications and dental work. They are often used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants as well as getting struck while a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay

Coverage for liability – Liability insurance can cover injuries or damage you cause to other people or property by causing an accident. Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Some companies may use a combined limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability insurance covers claims such as pain and suffering, bail bonds, repair costs for stationary objects and medical services. How much liability coverage do you need? That is a decision to put some thought into, but consider buying higher limits if possible.

Comprehensive protection – Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers things like hail damage, theft, damage from getting keyed, hitting a bird and fire damage. The maximum payout your insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Buy Smart and Save

Insureds change insurance companies for many reasons like questionable increases in premium, lack of trust in their agent, denial of a claim or not issuing a premium refund. Whatever your reason, choosing a new company is pretty easy and you might even save some money in the process.

In this article, we presented a lot of tips how to save on 2015 Mazda CX-5 insurance. The most important thing to understand is the more providers you compare, the better your comparison will be. You may even find the lowest rates come from the least-expected company.

As you shop your coverage around, it’s very important that you do not buy poor coverage just to save money. Too many times, consumers will sacrifice physical damage coverage to discover at claim time that the small savings ended up costing them much more. The ultimate goal is to buy a smart amount of coverage for the lowest price while not skimping on critical coverages.

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