2018 Mazda MX-5 Miata Car Insurance Cost

Trying to find the cheapest car insurance rates for your Mazda MX-5 Miata? Sick and tired of not being able to afford to pay high car insurance rates every month? You are in the same boat as the majority of other people.

Due to the increasing number of options when it comes to car insurance, it’s nearly impossible to choose the lowest cost insurance company.

Smart consumers take time to compare rates at least once a year because prices are adjusted regularly by insurance companies. Just because you had the best quotes on MX-5 Miata coverage six months ago there is a good chance you can find better rates now. Ignore everything you know about car insurance because I’m going to let you in on the secrets to the best way to find great coverage at a great price.

What affects Mazda MX-5 Miata insurance costs?

The best way to find cheaper car insurance is to take a look at the rating factors that aid in calculating your premiums. If you have a feel for what impacts premium levels, this enables you to make decisions that may reward you with lower premium levels.

The factors shown below are just a few of the factors used by companies to determine your premiums.

  • Raising physical damage deductibles saves money – Protection for physical damage, termed comprehensive and collision coverage on your policy, protects your Mazda from damage. Some examples of claims that would be covered are collision with another vehicle, vandalism, and having your car stolen. Deductibles for physical damage state the amount of money you are willing to pay if a claim is determined to be covered. The more money the insured has to pay upfront, the lower your rates will be on MX-5 Miata coverage.
  • Your job may affect prices – Did you know your car insurance rates can be affected by your occupation? Careers such as military personnelairline pilots and financial analysts have higher average rates in part from high stress and long work days. On the flip side, jobs like farmers, athletes and the unemployed pay the least on MX-5 Miata coverage.
  • Alarms and GPS tracking lower prices – Selecting a car model with anti-theft technology or alarm system can help lower your rates. Anti-theft devices like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help stop car theft and help bring rates down.
  • Filing insurance claims can cost more – Auto insurance companies award lower rates to policyholders who do not file claims often. If you are the type of insured that files lots of claims you can definitely plan on higher premiums or even policy non-renewal. Your car insurance is meant to be used in the event of claims that you cannot pay yourself.
  • Safer vehicles cost less to insure – Vehicles with high crash test scores tend to have lower insurance rates. The safest vehicles protect occupants better and fewer serious injuries means your insurance company pays less which can result in lower premiums.
  • Eliminate unneeded add-on coverages – There are a lot of extra bells and whistles that may not really be needed on your car insurance policy. Coverage for things like replacement cost coverage, accident forgiveness, and membership fees may be costing you every month. They may seem like a good idea at first, but if you don’t need them think about removing them and cutting costs.
  • Lower rates with a multi-policy discount – Most larger car insurance companies afford better rates to policyholders who carry more than one policy, otherwise known as a multi-policy discount. Even with this discount applied, you may still want to comparison shop to help ensure you have the lowest rates.There is a good possibility that you can save even more by splitting coverages up.
  • Having a spouse is a bonus – Having a spouse may cut your premiums when buying car insurance. Having a spouse means you’re more stable financially and insurance companies like that married drivers tend to file fewer claims.

The best way to compare car insurance company rates takes advantage of the fact car insurance companies provide online access to provide you with free rate quotes. To begin a comparison, all you need to do is give the companies some data like whether you drive to work or school, if you lease or own, types of safety features, and if you have an active license. The data is instantly provided to multiple top-rated companies and they respond with quotes instantly.

Get cheaper rates with these car insurance discounts

Buying car insurance is not cheap, but you might already qualify for some discounts that many people don’t even know exist. Certain credits will be shown at the time of purchase, but a few need to be inquired about prior to getting the savings.

  • Online Discount – Certain car insurance companies will discount your bill up to fifty bucks for buying a policy and signing up on your computer.
  • Seat Belt Usage – Requiring all passengers to buckle up before driving can save 10% or more on the premium charged for medical payments and/or PIP.
  • Anti-theft System – Vehicles equipped with anti-theft or alarm systems are less likely to be stolen and qualify for as much as a 10% discount.
  • Fewer Miles Equal More Savings – Maintaining low annual mileage may enable drivers to earn better prices on cars that stay parked.
  • Multi-policy Discount – If you can combine your home and auto policy with the same company you could earn a discount of up to 20% off your total premium.
  • Mature Driver Discount – Drivers over the age of 55 can possibly qualify for a discount up to 10% on MX-5 Miata coverage.
  • Discount for Life Insurance – Not all car insurance companies offer life insurance, but some may give you a break if you buy some life insurance in addition to your auto policy.
  • Military Rewards – Being deployed in the military can result in better premium rates.

Discounts save money, but please remember that some of the credits will not apply to the entire cost. Most cut the cost of specific coverages such as liability, collision or medical payments. So even though it sounds like all those discounts means the company will pay you, companies wouldn’t make money that way.

Companies and the discounts they provide can be read below.

  • Progressive has discounts for continuous coverage, online signing, homeowner, multi-vehicle, multi-policy, good student, and online quote discount.
  • MetLife offers discounts for claim-free, accident-free, defensive driver, multi-policy, good driver, good student
  • Mercury Insurance may have discounts that include ease of repair, good driver, low natural disaster claims, type of vehicle, professional/association, and location of vehicle.
  • Nationwide policyholders can earn discounts including family plan, easy pay, multi-policy, business or organization, Farm Bureau membership, and accident-free.
  • Geico offers premium reductions for anti-lock brakes, five-year accident-free, daytime running lights, military active duty, and air bags.
  • AAA discounts include pay-in-full, multi-car, good student, AAA membership discount, anti-theft, education and occupation, and good driver.

When quoting, ask each company what discounts are available to you. Savings may not be available in your area.

Car insurance can get complicated

When choosing coverage, there really is not a one size fits all plan. Every insured’s situation is different so your insurance needs to address that. Here are some questions about coverages that could help you determine if your insurance needs could use an agent’s help.

  • What exactly is covered by my policy?
  • How much liability do I need to cover my assets?
  • Do I have any recourse if my insurance company denies a claim?
  • Who is covered when they drive my 2018 Mazda MX-5 Miata?
  • Does liability extend to a camper or trailer?
  • Does my personal policy cover me when driving out-of-state?

If you can’t answer these questions, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, 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 car insurance helps when choosing which coverages you need and the correct deductibles and limits. Policy terminology can be impossible to understand and reading a policy is terribly boring. Listed below are typical coverages offered by car insurance companies.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage pay for bills like rehabilitation expenses, funeral costs, X-ray expenses and nursing services. They are often used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers all vehicle occupants as well as being hit by a car walking across the street. PIP is not universally available and may carry a deductible

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. Covered losses include injuries to you and your family and also any damage incurred to your Mazda MX-5 Miata.

Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family. Most of the time these limits are identical to your policy’s liability coverage.

Liability coverage – This coverage provides protection from damage that occurs to people or other property. It protects you against other people’s claims, and does not provide coverage for your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property. Occasionally you may see 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 such as repair bills for other people’s vehicles, emergency aid, funeral expenses, medical services and medical expenses. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Collision coverages – Collision insurance pays to fix your vehicle from damage resulting from a collision with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as colliding with another moving vehicle, backing into a parked car, sustaining damage from a pot hole and sideswiping another vehicle. This coverage can be expensive, so consider removing coverage from older vehicles. Drivers also have the option to choose a higher deductible to save money on collision insurance.

Comprehensive insurance – Comprehensive insurance coverage covers damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers claims such as damage from getting keyed, a tree branch falling on your vehicle, hitting a bird and damage from flooding. The most you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

A penny earned…

Throughout this article, we presented some good ideas how you can get a better price on 2018 Mazda MX-5 Miata insurance. The key thing to remember is the more providers you compare, the higher your chance of finding cheaper insurance coverage. You may be surprised to find that the lowest priced insurance coverage comes from the least-expected company. These companies often have lower premium rates on specific markets than their larger competitors like Progressive and Geico.

As you restructure your insurance plan, do not buy poor coverage just to save money. There are too many instances where consumers will sacrifice liability coverage limits only to discover later that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to purchase plenty of coverage at the best price but still have enough coverage for asset protection.

For more information, feel free to browse the articles below: