How Much Does 2011 Mazda MX-5 Miata Car Insurance Cost?

Overpriced Mazda MX-5 Miata insurance can drain your bank account and force you to prioritize other expenses. Doing a price comparison is free, only takes a few minutes, and is a good way to tighten up your finances. With consumers having so many choices of insurance companies, it can be diffult for consumers to choose the most affordable insurance company.

Auto Insurance Prices Online

Effectively comparing auto insurance prices can take time and effort if you aren’t aware of the most efficient way to do it. You could spend the better part of a day driving to insurance agencies in your area, or you can utilize online quotes to achieve your goal.

Many insurance companies participate in a marketplace where prospective buyers submit one quote, and at least one company can give them a price based on that data. This saves time by eliminating quote forms to every company.

To fill out one form to compare multiple rates now click here (opens in new window).

One minor caviat to doing it this way is you don’t know exactly the insurers you want to price. If you would rather choose individual companies to compare, we have a page of low cost auto insurance companies in your area. Click to view list.

However you get your quotes, make darn sure you compare identical information on every quote you get. If you are comparing different liability limits it will be impossible to determine which rate is truly the best.

The fine print in car insurance ads

Consumers constantly see and hear ads for car insurance savings by companies like GEICO, State Farm and Progressive. All the companies make the same claim about savings if you move to them.

How can each company claim to save you money? It’s all in the numbers.

All companies have a certain “appetite” for the type of driver they prefer to insure. For example, a preferred risk might be profiled as between 25 and 40, a clean driving record, and has great credit. Any driver who fits that profile will get very good rates and therefore will save when switching.

Potential insureds who are not a match for this ideal profile will have to pay higher premiums which usually ends up with business going elsewhere. The ad wording is “drivers who switch” not “everybody who quotes” save that much. That’s why insurance companies can confidently make those claims.

Because of the profiling, you should get a wide range of price quotes. It’s just too difficult to predict which insurance companies will provide you with the cheapest Mazda MX-5 Miata insurance rates.

These factors can influence Mazda MX-5 Miata insurance rates

Consumers need to have an understanding of some of the elements that come into play when calculating your insurance rates. When you know what positively or negatively determines base rates enables informed choices that may reward you with big savings.

  • Rate your vehicle for proper use – The more miles you rack up on your Mazda in a year’s time the more you’ll pay to insure your vehicle. Almost all companies rate vehicles determined by how the vehicle is used. Vehicles that are left in the garage can get a lower rate as compared to vehicles used primarily for driving to work. Verify your insurance policy is rated on how each vehicle is driven, because it can save money. Incorrect usage on your MX-5 Miata can result in significantly higher rates.
  • Increase deductibles and save – Your deductibles represent how much money you are willing to pay out-of-pocket in the event of a claim. Physical damage coverage, termed comprehensive and collision coverage on your policy, protects your car from damage. Some instances where coverage would apply could be colliding with a building, damage from fire, and burglary. The more money you are required to pay out-of-pocket, the less your company will charge you for insurance for MX-5 Miata insurance.
  • Your car’s features help determine rates – Owning a car with anti-theft technology or alarm system can save you a little every year. Anti-theft devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent your car from being stolen.
  • Never go without insurance – Not having insurance is illegal and your next policy will cost more because you let your insurance expire. And not only will your rates increase, but being ticketed for driving with no insurance can result in a license revocation or jail time.Then you may be required to prove you have insurance by filing a SR-22 with your state DMV.
  • Protect yourself with liability coverage – Liability coverage provides coverage in the event that you are found liable for personal injury or accident damage. Liability insurance provides legal defense coverage which can cost thousands of dollars. Liability is cheap when compared with rates for comp and collision, so do not skimp.
  • Policy add-ons can waste money – There are quite a few extra bells and whistles that you can get tricked into buying on your insurance policy. Coverages for rental car reimbursement, accidental death and motor club memberships may be costing you every month. These coverages may sound good when talking to your agent, but if you don’t need them eliminate them to save money.
  • Do you qualify for a multi-policy discount? – The majority of insurance companies give discounts to insureds who consolidate policies with them. It’s known as a multi-policy discount. Discounts can amount to ten or even up to twenty percent in some cases. Even with this discount, it’s still a good idea to comparison shop to make sure you are getting the best deal.
  • Better credit means lower rates – A driver’s credit score is a huge factor in determining your rates. Drivers with good credit tend to file fewer claims and have better driving records as compared to drivers with lower ratings. If your credit history is low, you could pay less to insure your 2011 Mazda MX-5 Miata by repairing your credit.

Verify you’re getting all your discounts

Insurance can cost an arm and a leg, buy you may qualify for discounts to help bring down the price. Certain discounts will be applied when you complete an application, but less common discounts must be asked for before being credited. If they aren’t giving you every credit you qualify for, you are paying more than you should be.

  • Life Insurance Discount – Select insurance companies reward you with a break if you buy auto and life insurance together.
  • Save over 55 – If you qualify as a senior citizen, you can possibly qualify for reduced rates for MX-5 Miata insurance.
  • Use Seat Belts – Drivers who require all occupants to buckle their seat belts can save 10% or more on the medical payments or PIP coverage costs.
  • Club Memberships – Belonging to certain professional organizations could trigger savings on your policy for MX-5 Miata insurance.
  • Paperwork-free – Certain companies may give you up to $50 simply for signing digitally online.
  • Anti-lock Brakes – Cars that have steering control and anti-lock brakes prevent accidents and earn discounts up to 10%.
  • Anti-theft Discount – Anti-theft and alarm systems are stolen less frequently and therefore earn up to a 10% discount.

As a disclaimer on discounts, some of the credits will not apply to the overall cost of the policy. Most cut the price of certain insurance coverages like liability, collision or medical payments. Just because it seems like adding up those discounts means a free policy, auto insurance companies aren’t that generous. Any qualifying discounts will help reduce the amount you have to pay.

Car insurance companies that may have these discounts include:

Double check with each company what discounts are available to you. Discounts may not apply in your state.

When should I talk to an agent?

When buying proper insurance coverage, there really is no “perfect” insurance plan. Every insured’s situation is different so your insurance needs to address that. For instance, these questions might help in determining if your situation would benefit from an agent’s advice.

  • Am I covered when driving someone else’s vehicle?
  • How high should deductibles be on a 2011 Mazda MX-5 Miata?
  • How high should my uninsured/underinsured coverage be in my state?
  • When should I buy a commercial auto policy?
  • When should I drop full coverage on my 2011 Mazda MX-5 Miata?
  • Can I afford to buy a different vehicle if my 2011 Mazda MX-5 Miata is totaled?
  • Is my 2011 Mazda MX-5 Miata covered for flood damage?
  • Is my custom paint covered by insurance?

If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form or you can also visit this page to select a carrier It’s fast, free and may give you better protection.

Coverages available on your insurance policy

Learning about specific coverages of a insurance policy can help you determine which coverages you need and proper limits and deductibles. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find the usual coverages found on the average insurance policy.

Collision protection

This pays for damage to your MX-5 Miata resulting from a collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for claims such as backing into a parked car, sustaining damage from a pot hole, sideswiping another vehicle and hitting a mailbox. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Another option is to bump up the deductible to get cheaper collision coverage.

Liability coverage

This coverage will cover damage that occurs to people or other property. It protects YOU against claims from other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 25/50/25 that translate to a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery. Some companies may use one number which is a combined single limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage pays for things like pain and suffering, court costs and bail bonds. How much liability coverage do you need? That is up to you, but you should buy as large an amount as possible.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage kick in for bills for things like doctor visits, surgery, rehabilitation expenses, chiropractic care and hospital visits. They can be utilized in addition to your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants in addition to being hit by a car walking across the street. PIP coverage is only offered in select states and may carry a deductible

Uninsured or underinsured coverage

This coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. This coverage pays for injuries to you and your family as well as damage to your Mazda MX-5 Miata.

Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Normally the UM/UIM limits are set the same as your liablity limits.

Comprehensive protection

This coverage pays for damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things such as theft, a broken windshield, fire damage, damage from flooding and vandalism. The maximum amount your insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Coverage on a shoestring budget

As you prepare to switch companies, it’s very important that you do not skimp on coverage in order to save money. There have been many situations where an insured cut comprehensive coverage or liability limits and found out when filing a claim that they should have had better coverage. The ultimate goal is to find the BEST coverage at an affordable rate, not the least amount of coverage.

Low-cost 2011 Mazda MX-5 Miata insurance is attainable on the web and with local insurance agents, so you should compare both in order to have the best chance of saving money. Some insurance providers do not offer online price quotes and these regional insurance providers work with independent agents.

In this article, we covered some good ideas how you can lower your insurance rates. The key concept to understand is the more rate quotes you have, the higher your chance of finding lower rates. You may even find the lowest priced insurance comes from an unexpected company. Smaller companies may only write in your state and offer lower rates than their larger competitors like Allstate or State Farm.

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