View 2003 Mazda MX-5 Miata Insurance Rates

Trying to find lower insurance rates? Buyers have many options when searching for low-cost Mazda MX-5 Miata insurance. You can either waste hours calling around to get rate comparisons or utilize the internet to find the lowest rates.

There is a better way to find insurance online so we’re going to tell you the proper way to compare rates for your Mazda and obtain the cheapest rates from local insurance agents and online providers.

It’s important to price shop coverage quite often since rates are usually higher with each renewal. Despite the fact that you may have had the best deal on MX-5 Miata insurance a few years ago you can probably find a lower rate today. There is a lot of bad advice regarding insurance online but I’m going to show you some solid techniques on how to buy insurance cheaper.

If you have a policy now or are just looking to switch companies, you can use these techniques to get lower rates and possibly find even better coverage. The purpose of this post is to introduce you to how to effectively get price quotes. Vehicle owners just need to learn how to get comparison quotes over the internet.

The method we recommend to compare car insurance rates is to know most larger insurance companies participate in a system to compare rate quotes. To start a quote, the only thing you need to do is spend a couple of minutes providing details including daily mileage, driver ages, if the car is leased, and whether or not you need a SR-22. The data is instantly submitted to multiple different insurance companies and they provide comparison quotes very quickly.

How to save on 2003 Mazda MX-5 Miata insurance

Car insurance is not cheap, buy you may qualify for discounts that you may not know about. Certain discounts will be triggered automatically when you quote, but a few need to be asked for before being credited. If they aren’t giving you every credit you deserve, you’re just leaving money on the table.

  • Pay Now and Pay Less – By paying your policy upfront instead of monthly or quarterly installments you can actually save on your bill.
  • Passive Restraint Discount – Cars that have air bags can receive discounts of 20% or more.
  • Claim Free – Good drivers with no accidents pay less compared to drivers who are more careless.
  • Safe Driver Discount – Drivers who don’t get into accidents may receive a discount up to 45% less on MX-5 Miata insurance than drivers with accidents.
  • Senior Discount – Mature drivers may be able to get a small decrease in premiums on MX-5 Miata insurance.
  • Organization Discounts – Being a member of certain professional organizations could trigger savings on your policy on MX-5 Miata insurance.
  • Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to buckle their seat belts could save 15% on the medical payments or PIP coverage costs.
  • Driver Safety – Successfully completing a course in driver safety could cut 5% off your bill if your company offers it.
  • Bundle and Save – If you have multiple policies with the same insurance company you may save 10% to 20% off each policy.
  • Student in College – Any of your kids who are attending college without a vehicle on campus can be insured at a reduced rate.

It’s important to understand that most credits do not apply to your bottom line cost. Most only apply to the cost of specific coverages such as collision or personal injury protection. So despite the fact that it appears all the discounts add up to a free policy, companies don’t profit that way. But any discount will bring down the cost of coverage.

To see a list of insurance companies with the best insurance coverage discounts, click this link.

Why you might be paying too much to insure your Mazda MX-5 Miata

An important part of buying insurance is that you know some of the elements that help determine auto insurance rates. Having a good understanding of what controls the rates you pay empowers consumers to make smart changes that can help you get lower auto insurance prices.

The following are a few of the “ingredients” used by your company to calculate your rates.

  • How’s your driving record? – Whether or not you get tickets has a big impact on rates. Drivers who don’t get tickets tend to pay less for car insurance than their less careful counterparts. Even one speeding ticket can bump up the cost forty percent or more. Drivers with dangerous tickets like DUI or reckless driving are required to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to prevent a license revocation.
  • Add-on coverages can add up – There are many add-on coverages you can purchase when buying auto insurance. Insurance for rental car reimbursement, better glass coverage and membership fees are some examples. They may seem like a good idea initially, but your needs may have changed so eliminate the coverages to reduce your premium.
  • Rural vs Urban Areas – Living in a rural area is a positive aspect when insuring your vehicles. Fewer people means fewer accidents and also fewer theft and vandalism claims. Urban drivers regularly have more traffic problems and a longer drive to work. Higher commute times means higher likelihood of an accident.
  • Never let your coverage lapse – Driving with no insurance is illegal and you will pay a penalty because you let your coverage lapse. Not only will rates go up, getting caught without coverage will get you a steep fine or even jail time.
  • Do you work long hours in a high stress job? – Did you know your occupation can influence how much you pay for auto insurance? Occupations like real estate brokers, architects and dentists tend to pay the highest average rates due to high stress levels and long work days. Other jobs such as farmers, historians and homemakers have the lowest average rates on MX-5 Miata insurance.
  • Too many auto insurance claims drive up costs – Companies give discounts to drivers who do not file claims often. If you are a frequent claim filer, you can definitely plan on higher rates. Auto insurance is designed for larger claims.
  • Being married can save on auto insurance – Having a wife or husband actually saves money when buying auto insurance. Having a spouse translates into being more responsible and statistics show drivers who are married are more cautious.
  • Do you know you’re credit rating? – Having a bad credit history is a huge factor in calculating your auto insurance rates. Therefore, if your credit rating is not that good, you could save money insuring your 2003 Mazda MX-5 Miata by improving your rating. Drivers with high credit ratings tend to file fewer claims and have better driving records than drivers with lower credit scores.

Tailor your coverage to you

When buying proper insurance coverage for your vehicles, there really is not a cookie cutter policy. Each situation is unique.

These are some specific questions may help highlight if you would benefit from professional advice.

  • Am I covered when pulling a rental trailer?
  • How much underlying liability do I need for an umbrella policy?
  • Is a blown tire covered by insurance?
  • Am I covered when using my vehicle for business?
  • What is the difference between comprehensive and collision coverage?
  • What can I do if my company won’t pay a claim?
  • Am I covered if I break a side mirror?
  • Is my 2003 Mazda MX-5 Miata covered for flood damage?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Am I missing any policy discounts?

If it’s difficult to answer those questions, you may need to chat with an insurance agent. To find lower rates from a local agent, simply complete this short form. It’s fast, doesn’t cost anything and may give you better protection.

Insurance policy coverages for a Mazda MX-5 Miata

Understanding the coverages of your insurance policy can be of help when determining which coverages you need and proper limits and deductibles. Policy terminology can be confusing and coverage can change by endorsement.

Comprehensive coverages

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 your comprehensive coverage will pay.

Comprehensive coverage pays for things such as damage from getting keyed, hitting a bird and fire damage. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your Mazda MX-5 Miata.

Due to the fact that many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked. Usually the UM/UIM limits do not exceed the liability coverage limits.

Coverage for medical payments

Med pay and PIP coverage provide coverage for expenses for pain medications, doctor visits, prosthetic devices, rehabilitation expenses and surgery. They are used to fill the gap from your health insurance plan or if you do not have health coverage. Coverage applies to all vehicle occupants as well as if you are hit as a while walking down the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Auto collision coverage

Collision coverage will pay to fix damage to your MX-5 Miata resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims such as crashing into a ditch, sideswiping another vehicle and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Another option is to raise the deductible to get cheaper collision coverage.

Liability car insurance

This coverage can cover damages or injuries you inflict on people or other property in an accident. It protects you from claims by other people. It does not cover damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 25/50/25 which stand for $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged propery. Alternatively, you may have a combined limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things such as funeral expenses, repair costs for stationary objects, bail bonds and court costs. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase as much as you can afford.

Keep this in mind

Affordable 2003 Mazda MX-5 Miata insurance is definitely available from both online companies and also from your neighborhood agents, and you should be comparing both to have the best rate selection. Some insurance companies may not provide online price quotes and usually these smaller companies provide coverage only through local independent agents.

In this article, we covered many tips how you can shop for insurance online. It’s most important to understand that the more times you quote, the better likelihood of reducing your rate. You may be surprised to find that the biggest savings come from the smaller companies.

As you shop your coverage around, you should never buy lower coverage limits just to save a few bucks. In too many instances, drivers have reduced physical damage coverage only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to purchase plenty of coverage at an affordable rate, not the least amount of coverage.

More detailed insurance information is located by following these links: