Cheapest 2018 Mazda MX-5 Miata Insurance Rates in 2023
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UPDATED: May 1, 2020
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Did a good deal turn out to be an expensive insurance coverage policy? Don’t sweat it because there are lots of residents who feel the same.
Multiple car insurance companies compete for your hard-earned dollar, so it’s not easy to compare every insurer and uncover the absolute lowest rate possible.
How to get free insurance quotes online
There are a lot of ways to compare insurance quotes, and some are more efficient than others. You could spend your day discussing policy coverages with insurance agencies in your area, or you could use the web to get rate comparisons in just a few minutes.
Many companies are enrolled in a marketplace that enables customers to submit one quote, and each participating company then gives them pricing based on that information. This prevents consumers from doing quote requests for each company you want a rate for.
To compare pricing enter your zip code here.
The only downside to using this type of system is you cannot specify which insurance companies you want to price. If you prefer to choose specific insurance companies to receive pricing from, we have a listing of insurance companies in your area. Click to enter zip code.
You can choose any of those ways to find more affodable coverage, but be sure to compare exactly the same deductibles and coverage limits on every quote you get. If you are comparing different limits and deductibles on each one it will be nearly impossible to truly determine the lowest rate. Just slight variations in limits may result in large price differences. And when comparing insurance rates, know that comparing a large number of companies will enable you to find a lower rate.
Why you might pay inflated rates
Lots of things are part of the calculation when premium rates are determined. Some of the criteria are obvious like your driving record, but others are not quite as obvious like your vehicle usage and annual miles driven.
Shown below are some of the most rate-impacting factors insurance coverage companies consider when setting rates.
- High credit equals lower rates – A driver’s credit score is a big factor in determining your rates. If your credit rating could use some work, you could be paying less to insure your 2018 Mazda MX-5 Miata by improving your credit score. People with high credit ratings tend to be better drivers and file fewer claims than drivers with bad credit.
- Do females or males drive better? – Statistics demonstrate that females tend to be a little less risky than males. This data doesn’t prove that females are better at driving than males. Females and males cause fender benders at about the same rate, but the male of the species tend to have higher claims. Men also tend to get more serious tickets like driving under the influence (DUI).
- Premiums drop with age – Beginning drivers are known to be more careless when at the wheel of a vehicle therefore insurance coverage rates are much higher. Older people tend to be more responsible, are lower risk to insure and are safer drivers.
- Pay less after the wedding – Walking down the aisle can actually save you money on your insurance coverage policy. It demonstrates that you tend to be more responsible and it’s statistically proven that married drivers get in fewer accidents.
- Urban areas may pay more – Living in a rural area can save you money when talking about insurance coverage. Lower population corresponds to lower accident rates. Drivers who live in large cities tend to have congested traffic and longer commutes to work. More time on the road translates into higher accident risk.
Take policy discounts and save
Some companies don’t always publicize every policy discount very clearly, so below is a list both well-publicized and the harder-to-find discounts you could be receiving when you buy car insurance online. If you are not receiving all the discounts possible, you could be getting lower rates.
- Senior Discount – Older drivers can get reduced rates on MX-5 Miata insurance.
- Policy Bundle Discount – When you have multiple policies and insure them both with the same insurance company they may give you a discount of at least 10% off all policies.
- ABS Brakes – Anti-lock brake equipped vehicles can reduce accidents so companies give up to a 10% discount.
- Save with a New Car – Adding a new car to your policy can save up to 30% compared to insuring an older model.
- Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems can receive discounts of up to 25% or more.
- College Student – Kids who live away from home at college and do not take a car to college can receive lower rates.
- Federal Government Employee – Active or former government employment could cut as much as 10% off on MX-5 Miata insurance with some insurance companies.
- Own a Home and Save – Being a homeowner can get you a discount because it means you have a higher level of financial diligence.
- Discounts for Cautious Drivers – Insureds without accidents can pay as much as 50% less on MX-5 Miata insurance than their less cautious counterparts.
- Claim Free – Insureds who avoid accidents and claims are rewarded with significantly better rates on car insurance quote as compared to frequent claim filers.
As a disclaimer on discounts, many deductions do not apply to the entire policy premium. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. Despite the fact that it seems like it’s possible to get free car insurance, you aren’t that lucky.
To choose insurance companies that offer some of these discounts, enter your zip code here.
Which policy gives me the best coverage?
When it comes to buying the right insurance coverage for your vehicles, there really is no single plan that fits everyone. Everyone’s situation is a little different and a cookie cutter policy won’t apply. These are some specific questions might help in determining whether your personal situation will benefit from professional help.
- Is borrowed equipment or tools covered if stolen or damaged?
- Will filing a claim cost me more?
- Should I buy more coverage than the required minimum liability coverage?
- Is motorclub coverage worth it?
- Is my nanny covered when driving my vehicle?
- Why do I need rental car insurance?
- How much underlying liability do I need for an umbrella policy?
- Is my trailer covered?
- Do I benefit by insuring my home with the same company?
- When can my company non-renew my policy?
If you can’t answer these questions, then you may want to think about talking to an agent. If you want to speak to an agent in your area, fill out your zip code.
Car insurance coverages 101
Understanding the coverages of a car insurance policy can be of help when determining appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. Listed below are typical coverage types found on most car insurance policies.
Comprehensive or Other Than Collision – This pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims like hail damage, rock chips in glass and damage from flooding. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Liability car insurance – This coverage will cover damage that occurs to people or other property in an accident. It protects you against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property. Another option is one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.
Liability can pay for things such as attorney fees, pain and suffering and emergency aid. The amount of liability coverage you purchase is your choice, but consider buying higher limits if possible.
UM/UIM Coverage – Your UM/UIM coverage provides protection when other motorists either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as your vehicle’s damage.
Since many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family. Normally your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Collision coverage – This pays to fix your vehicle from damage resulting from a collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.
Collision coverage protects against claims such as colliding with another moving vehicle, damaging your car on a curb, sideswiping another vehicle, crashing into a building and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. It’s also possible to bump up the deductible to bring the cost down.
Medical costs insurance – Coverage for medical payments and/or PIP kick in for bills such as hospital visits, funeral costs, nursing services and chiropractic care. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. They cover both the driver and occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state and may carry a deductible
Shop around and save
We’ve covered a lot of techniques to lower your 2018 Mazda MX-5 Miata insurance auto insurance rates. It’s most important to understand that the more price quotes you have, the better your chances of lowering your premium rates. Drivers may discover the biggest savings come from a company that doesn’t do a lot of advertising. Smaller companies may have significantly lower premium rates on certain market segments as compared to the big name companies such as GEICO and State Farm.
Some companies do not provide online price quotes and most of the time these regional carriers prefer to sell through local independent agents. Cheaper 2018 Mazda MX-5 Miata insurance is definitely available from both online companies and from local agencies, and you need to price shop both in order to have the best chance of saving money.
More information can be read below:
- Shopping for a Safe Car (Insurance Information Insitute)
- Safety Features for Your New Car (State Farm)
- Understanding Limits and Deductibles (Allstate)
- Insurance Losses by Make and Model (iihs.org)
- How to Avoid Buying a Flooded Car (Insurance Information Insitute)
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Insitute)
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