How Much Does 2003 Mazda MX-5 Miata Insurance Cost?

Trying to find the cheapest car insurance rates for your Mazda MX-5 Miata? Are you tired of robbing Peter to pay Paul to insure your Mazda every month? You are no different than the majority of other car owners.

Numerous insurance companies battle to insure your vehicles, and because of this it can be hard to compare car insurance companies to get the lowest price

If you currently have car insurance, you will be able to reduce your rates substantially using these tips. Finding the best rates is easy if you know what you’re doing. But car owners must comprehend the way insurance companies price online insurance and use this information to your advantage.

Car Insurance Prices Online

To find the best car insurance prices, there are several ways of comparing rates from local car insurance companies. The quickest method to find the lowest 2003 Mazda MX-5 Miata rates is simply to get online rate quotes. It is quite easy and can be accomplished in several different ways.

  • The most efficient way consumers can make multiple comparisons is a comparison rater form like this one (opens in new window). This easy form prevents you from having to do separate forms for each company. Filling out one form will return quotes from multiple low-cost companies.
  • A less efficient way to find lower rates is to manually visit each company’s website to complete a price quote. For sake of this example, let’s assume you want comparison quotes from Progressive, Farmers and GEICO. To get rate quotes you would need to go to every website to enter your coverage information, and that’s why the first method is more popular.

    For a handy list of car insurance company links in your area, click here.

  • The most time-consuming way to get comparison rates is to spend your day driving to and from local insurance agencies. The internet has reduced the need for local agents unless you have a need for the professional guidance of a local agent. You can, however, price shop your coverage online and still use a local agent.

It’s your choice how you get your quotes, but ensure you’re using the exact same coverages with each company. If the quotes have different values for each quote it will be next to impossible to make an equal comparison. Quoting even small variations in insurance coverages could mean much higher rates. Keep in mind that more quotes provides better odds of finding the best price.

How to save on 2003 Mazda MX-5 Miata insurance

Auto insurance companies don’t necessarily list every available discount very clearly, so we break down both well-publicized as well as the least known discounts you could be receiving.

  • Resident Student – Youth drivers who are attending college and do not have access to a covered vehicle may be able to be covered for less.
  • Safe Driver Discount – Safe drivers can pay as much as 50% less on MX-5 Miata insurance than drivers with accidents.
  • Lower Rates for Military – Being deployed with a military unit could mean lower rates.
  • Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and qualify for as much as a 10% discount.
  • Own a Home – Being a homeowner can save you money because owning a home demonstrates responsibility.
  • Accident Free – Claim-free drivers pay much less when compared to bad drivers.
  • Paperwork-free – Some insurance companies give back up to $50 simply for signing on their website.
  • Accident Waiver – A handful of insurance companies allow you one accident before raising your premiums if your claims history is clear for a particular time prior to the accident.
  • Club Memberships – Participating in a professional or civic organization could trigger savings when shopping for car insurance on MX-5 Miata insurance.

It’s important to understand that some credits don’t apply the the whole policy. Most only cut the price of certain insurance coverages like physical damage coverage or medical payments. Just because you may think you would end up receiving a 100% discount, it doesn’t quite work that way.

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

Tailor your coverage to you

When it comes to choosing coverage, there is no “perfect” insurance plan. Each situation is unique so your insurance needs to address that. Here are some questions about coverages that might point out if your insurance needs might need an agent’s assistance.

  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • What if I owe more than I can insure my car for?
  • Do I need more liability coverage?
  • If my 2003 Mazda MX-5 Miata is totaled, can I afford another vehicle?
  • When should I not file a claim?
  • When can I cancel my policy?
  • Do I get a pro-rated refund if I cancel my policy early?

If you’re not sure about those questions then you might want to talk to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of insurance coverage companies in your area.

These factors can influence what you pay for Mazda MX-5 Miata insurance

Smart consumers have a good feel for the different types of things that play a part in calculating your car insurance rates. Knowing what impacts premium levels empowers consumers to make smart changes that may reward you with big savings.

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

  • With age comes lower rates – Older insureds are more responsible, statistically cause fewer accidents and are safer drivers. Teen drivers are statistically proven to be more careless when behind the wheel and because of this, their car insurance rates are much higher.
  • Bad driving skills means higher rates – A bad driving record impacts your car insurance rates tremendously. Drivers with clean records have lower premiums than their less careful counterparts. Even one speeding ticket may increase your cost forty percent or more. If you have dangerous violations like hit and run, DWI or reckless driving convictions may find they need to file a SR-22 with their state motor vehicle department in order to prevent a license revocation.
  • Marriage pays dividends – Being married can get you a discount on your policy. Having a significant other translates into being more mature and responsible it has been statistically shown that married drivers get in fewer accidents.
  • Multiple policies with one company can save – Some insurers will give a discount to policyholders who carry more than one policy in the form of a multi-policy discount. Even with this discount, you may still want to compare other company rates to confirm you are receiving the best rates possible. Drivers may still find better rates by splitting coverages up.

Advertising myths

Progressive, GEICO, Allstate and State Farm consistently run television and radio advertisements. All the companies make the same claim that you’ll save big if you change to them. How do they all claim to save you money? This is how they do it.

All the different companies have a preferred profile for the type of driver that makes them money. For example, a desirable insured could be between 30 and 50, has no driving citations, and chooses high deductibles. A customer who meets those qualifications receives the best rates and therefore will save when switching.

Drivers who don’t measure up to these standards will have to pay higher rates and ends up with business going elsewhere. The ads state “people who switch” not “everybody who quotes” save that much money. That’s the way companies can truthfully state the savings. Because of the profiling, drivers should compare many company’s rates. Because you never know which insurance company will fit your personal profile best.

Coverages available on your car insurance policy

Understanding the coverages of car insurance can be of help when determining the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and coverage can change by endorsement. Shown next are the normal coverages found on the average car insurance policy.

UM/UIM (Uninsured/Underinsured Motorist) coverage – Your UM/UIM coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family.

Comprehensive auto coverage – This pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things such as damage from getting keyed, fire damage, damage from flooding, falling objects and theft. The highest amount you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Collision coverage – Collision coverage covers damage to your MX-5 Miata resulting from a collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like scraping a guard rail, hitting a parking meter and backing into a parked car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Another option is to choose a higher deductible in order to get cheaper collision rates.

Medical payments and PIP coverage – Med pay and PIP coverage pay for immediate expenses for things like rehabilitation expenses, X-ray expenses, surgery and dental work. The coverages can be utilized in addition to your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not universally available but can be used in place of medical payments coverage

Liability insurance – This coverage will cover damages or injuries you inflict on other people or property. This insurance protects YOU from legal claims by others, and doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery.

Liability coverage protects against things such as repair costs for stationary objects, emergency aid, legal defense fees and medical expenses. How much coverage you buy is your choice, but you should buy as high a limit as you can afford.

Shop Smart and Save

Budget-conscious 2003 Mazda MX-5 Miata insurance is possible online and with local insurance agents, and you need to price shop both to have the best rate selection. Some insurance companies do not offer online quoting and many times these regional insurance providers only sell through independent insurance agents.

When trying to cut insurance costs, it’s not a good idea to skimp on coverage in order to save money. In many cases, someone sacrificed collision coverage to discover at claim time that the few dollars in savings costed them thousands. Your strategy should be to get the best coverage possible for the lowest price while not skimping on critical coverages.

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