How Much Does 2001 Mazda MX-5 Miata Insurance Cost?

Want better car insurance rates for your Mazda MX-5 Miata? Having to pay for overpriced Mazda MX-5 Miata insurance can overdraw your checking account and force you to prioritize other expenses. Doing a price comparison is a great way to make sure you’re not throwing money away.

Numerous insurers battle for your business, and because of this it can be hard to compare car insurance companies and get the best coverage at the lowest rate

Discounts are available to cut your rates

The cost of insuring your cars can be expensive, but discounts can save money and there are some available to reduce the price significantly. Certain discounts will be triggered automatically at the time of quoting, but some must be inquired about before being credited.

  • Multiple Vehicles – Buying coverage for multiple vehicles with the same company may reduce the rate for each vehicle.
  • Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to enroll in driver’s education if offered at their school.
  • Discount for Swiching Early – Some insurance companies reward drivers for buying a policy before your current policy expires. The savings is around 10%.
  • Seat Belts Save – Buckling up and requiring all passengers to use a seat belt can save up to 15% off your medical payments premium.
  • Payment Discounts – If you pay your entire premium ahead of time instead of monthly or quarterly installments you could save up to 5%.
  • Safe Driver Discount – Drivers who don’t get into accidents may receive a discount up to 45% less for MX-5 Miata coverage than drivers with accident claims.
  • Club Memberships – Participating in certain professional organizations is a good way to get lower rates on your policy for MX-5 Miata coverage.
  • Sign Online – Certain companies may give you up to $50 for buying your policy digitally online.
  • Service Members Pay Less – Having a deployed family member could be rewarded with lower premiums.
  • Discount for Life Insurance – Companies who offer life insurance give lower rates if you buy life insurance from them.

It’s important to note that most discount credits are not given to your bottom line cost. Some only apply to the cost of specific coverages such as medical payments or collision. So even though they make it sound like all those discounts means the company will pay you, it doesn’t quite work that way. Any amount of discount will cut the amount you have to pay.

For a list of insurers with the best insurance discounts, click here.

Impacting insurance rates for a Mazda MX-5 Miata

Consumers need to have an understanding of the rating factors that help determine the rates you pay for auto insurance. Having a good understanding of what impacts premium levels empowers consumers to make smart changes that will entitle you to much lower annual insurance costs.

The following are a partial list of the pieces used by your company to calculate prices.

  • Cautious drivers pay less – Your driving record has a huge affect on how much you pay. Drivers with clean records receive lower rates than bad drivers. Even a single speeding ticket may increase your cost by twenty percent. Drivers who get serious violations such as hit and run, DWI or reckless driving convictions may be required to file a SR-22 with their state motor vehicle department in order to continue driving.
  • Discounts for married couples – Being married can actually save you money when buying auto insurance. Having a spouse is viewed as being more mature and statistics show married drivers get in fewer accidents.
  • Special features that cut premiums – Choosing a vehicle with an alarm system can get you a discount on your auto insurance. Anti-theft devices like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart your vehicle from being stolen.
  • Older drivers pay less – Teen drivers tend to get distracted easily in a vehicle so they pay higher auto insurance rates. Mature drivers are more responsible, tend to cause fewer accidents and get fewer tickets.
  • Adjust deductibles and save – The deductibles define the amount you are willing to pay before your auto insurance pays a claim. Coverage for physical damage, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your car. Some examples of claims that would be covered are running into the backend of another car, collision with an animal, and rolling your vehicle. The higher the amount the insured has to pay upfront, the less your auto insurance will be for MX-5 Miata coverage.

Everyone needs different coverages

When choosing adequate coverage, there really is no “perfect” insurance plan. Every situation is different so your insurance needs to address that. Here are some questions about coverages that may help highlight whether or not you could use an agent’s help.

  • Which companies will insure high-risk drivers?
  • What if I total my 2001 Mazda MX-5 Miata and owe more than it’s worth?
  • Is my dog or cat covered if injured in an accident?
  • Am I covered when delivering products for my home-based business?
  • How can I find cheaper teen driver insurance?
  • How can I get my company to pay me more for my totalled car?
  • How does medical payments coverage work?
  • Is business property covered if stolen from my car?
  • Does my car insurance cover rental cars?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to a licensed agent. To find an agent in your area, fill out this quick form or you can also visit this page to select a carrier

Specifics of your insurance policy

Learning about specific coverages of insurance helps when choosing appropriate coverage for your vehicles. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find the usual coverages available from insurance companies.

Comprehensive coverages

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims such as theft, hitting a deer and a broken windshield. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.

Uninsured and underinsured coverage

This coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as damage to your 2001 Mazda MX-5 Miata.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage should not be overlooked. Normally the UM/UIM limits are set the same as your liablity limits.

Collision protection

Collision insurance covers damage to your MX-5 Miata caused by collision with an object or car. You first must pay a deductible and then insurance will cover the remainder.

Collision can pay for claims like hitting a mailbox, colliding with another moving vehicle and damaging your car on a curb. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. It’s also possible to choose a higher deductible to bring the cost down.

Coverage for medical payments

Med pay and PIP coverage kick in for bills for things like dental work, prosthetic devices and pain medications. They are often utilized in addition to your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

Liability insurance

Liability insurance will cover damage that occurs to a person or their property that is your fault. This coverage protects you from legal claims by others. It does not cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 100/300/100 which means $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000. Occasionally you may see one number which is a combined single limit which provides one coverage limit without having the split limit caps.

Liability insurance covers things like attorney fees, bail bonds and structural damage. How much liability should you purchase? That is your choice, but you should buy as much as you can afford.

One last thing about your coverage

As you restructure your insurance plan, don’t be tempted to buy less coverage just to save a little money. There are too many instances where consumers will sacrifice comprehensive coverage or liability limits only to find out that the savings was not a smart move. Your strategy should be to buy a smart amount of coverage at the best price.

Cheap 2001 Mazda MX-5 Miata insurance can be found from both online companies in addition to many insurance agents, and you should compare price quotes from both to have the best rate selection. Some auto insurance companies do not provide you the ability to get quotes online and these small insurance companies work with independent agents.

More resources