How Much Does 2016 Mazda MX-5 Miata Insurance Cost?

Trying to find cheaper insurance rates for your Mazda MX-5 Miata? Searching for cheaper insurance for a Mazda MX-5 Miata can turn out to be an all-consuming task, but you can follow our insurance buying tips to find lower rates.

There is a right way and a wrong way to compare insurance rates so we’re going to tell you the best way to quote coverages for your Mazda and get the lowest possible price.

It is always a good idea to shop coverage around every six months since rates fluctuate regularly. Even if you got the lowest price on MX-5 Miata insurance six months ago there may be better deals available now. There is too much inaccurate information about insurance on the web, but by reading this article, you’re going to learn a lot of great tips on how to find affordable insurance.

If you have a policy now or need new coverage, you can use this information to cut your premiums and still get good coverage. Pricing the best auto insurance is not that difficult. Consumers just need to understand the most effective way to get comparison rates online.

Why your Mazda MX-5 Miata insurance rates may be high

Smart consumers have a good feel for some of the elements that help determine the rates you pay for insurance. Knowing what impacts premium levels empowers consumers to make smart changes that can help you get better insurance rates.

  • Your location is important – Being located in less populated areas can save you money when buying insurance. Fewer people means a lower chance of having an accident and also fewer theft and vandalism claims. Drivers who live in large cities tend to have traffic congestion and much longer commute distances. Longer commute distances means higher likelihood of an accident.
  • Women pay lower rates – Statistics have proven that women are safer drivers than men. Now that doesn’t mean women are better drivers. Men and women have accidents at about the same rate, but men tend to have more serious accidents. Men also have more aggressive citations like DUI and reckless driving.
  • How’s your driving record? – Just one moving violation may increase your cost twenty percent or more. Drivers with clean records get better rates than people who have multiple driving citations. Drivers who have severe citations like hit and run, DWI or reckless driving convictions may need to submit a SR-22 or proof of financial responsibility with their state DMV in order to drive a vehicle legally.
  • Rates may be higher depending on your occupation – Careers like real estate brokers, architects and accountants are shown to have higher rates than average because of high stress and lots of time spent at work. On the flip side, occupations such as scientists, athletes and retirees pay the least on MX-5 Miata insurance.

You probably qualify for some discounts

Properly insuring your vehicles can get expensive, but discounts can save money and there are some available that you may not even be aware of. Larger premium reductions will be automatically applied when you purchase, but a few must be manually applied in order for you to get them. If you don’t get every credit you deserve, you are paying more than you should be.

  • One Accident Forgiven – Some insurance companies permit an accident before raising your premiums as long as you don’t have any claims for a set time period.
  • New Car Discount – Adding a new car to your policy can save up to 30% since new cars are generally safer.
  • Seat Belts Save – Drivers who require all occupants to use their safety belts can save up to 15% off your medical payments premium.
  • Auto/Life Discount – Some companies give better rates if you take out life insurance.
  • Paperwork-free – A handful of insurance companies give back up to $50 for buying your policy on their website.
  • Good Students Pay Less – A discount for being a good student can earn a discount of 20% or more. Earning this discount can benefit you well after school through age 25.
  • More Vehicles More Savings – Insuring multiple cars or trucks on one policy may reduce the rate for each vehicle.

It’s important to understand that many deductions do not apply to the entire policy premium. Most only cut the price of certain insurance coverages like medical payments or collision. So even though they make it sound like you could get a free auto insurance policy, auto insurance companies aren’t that generous. But all discounts will help reduce your overall premium however.

For a list of companies with the best auto insurance discounts, click this link.

Are you falling for claims of savings?

Consumers can’t ignore all the ads that promise big savings from the likes of 21st Century, Allstate and State Farm. They all have a common claim about savings after switching your coverage to them.

How does each company make almost identical claims? It’s all in the numbers.

All companies have a preferred profile for the type of customer that makes them money. For instance, a profitable customer might be a mature driver, insures multiple vehicles, and has great credit. A driver who meets those qualifications receives the best rates and as a result will probably save quite a bit of money when switching.

Consumers who do not match these standards will be charged higher premiums which usually ends up with the customer not buying. Company advertisements say “drivers who switch” not “people who quote” save that much money. That is how companies can truthfully state the savings.

That is why you absolutely need to get quotes from several different companies. You cannot predict which car insurance company will provide you with the cheapest Mazda MX-5 Miata insurance rates.

There’s no such thing as the perfect policy

When it comes to buying the best insurance coverage coverage, there isn’t really a “perfect” insurance plan. Each situation is unique.

Here are some questions about coverages that might help in determining whether you may require specific advice.

  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • Am I covered if I hit my neighbor’s mailbox?
  • Should I waive the damage coverage when renting a car?
  • Where can I find DUI or SR-22 insurance?
  • How high should deductibles be on a 2016 Mazda MX-5 Miata?
  • Do I have newly-aquired coverage?
  • When can I cancel my policy?
  • Do I need an umbrella policy?
  • How do I file an SR-22 for a DUI in my state?

If you don’t know the answers to these questions but you think they might apply to your situation, you might consider talking to an insurance agent. If you want to speak to an agent in your area, complete this form. It’s fast, free and you can get the answers you need.

Auto insurance 101

Knowing the specifics of your insurance policy aids in choosing the right coverages at the best deductibles and correct limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording.

Comprehensive (Other than Collision)

This pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things such as fire damage, rock chips in glass, damage from a tornado or hurricane and a broken windshield. The most a insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Liability insurance

This can cover injuries or damage you cause to people or other property that is your fault. It protects you from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 100/300/100 which stand for a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property. Alternatively, you may have a combined limit which combines the three limits into one amount without having the split limit caps.

Liability coverage protects against claims such as medical services, loss of income and medical expenses. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as large an amount as possible.

Protection from uninsured/underinsured drivers

This coverage gives you protection when the “other guys” do not carry enough liability coverage. Covered claims include medical payments for you and your occupants as well as damage to your Mazda MX-5 Miata.

Since a lot of drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family. Normally these coverages are set the same as your liablity limits.

Medical expense insurance

Coverage for medical payments and/or PIP reimburse you for expenses for prosthetic devices, surgery and dental work. The coverages can be utilized in addition to your health insurance policy or if you are not covered by health insurance. Coverage applies to you and your occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage

Collision coverage protection

This will pay to fix damage to your MX-5 Miata caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.

Collision insurance covers things such as driving through your garage door, colliding with a tree and backing into a parked car. This coverage can be expensive, so you might think about dropping it from vehicles that are older. You can also bump up the deductible to get cheaper collision coverage.

Be a money saver!

As you go through the steps to switch your coverage, it’s very important that you do not buy lower coverage limits just to save a few bucks. There have been many situations where consumers will sacrifice collision coverage only to regret at claim time that the savings was not a smart move. Your strategy should be to buy the best coverage you can find at an affordable rate, not the least amount of coverage.

Insureds who switch companies do it for many reasons like being labeled a high risk driver, lack of trust in their agent, policy non-renewal or even denial of a claim. Whatever your reason, switching insurance coverage companies is less work than it seems.

Cheaper 2016 Mazda MX-5 Miata insurance is available both online and also from your neighborhood agents, so you should compare both to get a complete price analysis. Some insurance providers may not provide you the ability to get quotes online and most of the time these smaller companies sell through independent agents.

Additional detailed information can be found in the articles below: