1995 Mazda MX-5 Miata Insurance Rates – 7 Tips for Cheaper Quotes

Pretty sure you bought an overpriced auto insurance policy? It’s quite common and many drivers feel the same as you. Big companies like State Farm, Geico and Farmers Insurance constantly blast consumers with advertising and it can be hard to not get sucked in by the cute commercials and effectively compare rates to find the best deal.

It is always a good idea to get comparison quotes every six months because auto insurance prices tend to go up over time. Despite the fact that you may have had the best deal for MX-5 Miata insurance on your last policy you can probably find a better rate quote now. Block out anything you think you know about auto insurance because you’re about to find out the best methods to lower your rates without sacrificing coverage.

Discount car insurance rates

Insuring your vehicles can cost a lot, but there could be significant discounts that you may not even be aware of. Most are applied when you quote, but occassionally some discounts must be manually applied before you get the savings.

  • Fewer Miles Equal More Savings – Low annual miles can qualify you for discounted premium rates on garaged vehicles.
  • Good Grades Discount – Getting good grades may save as much as 25% on a insurance coverage quote. The good student discount can last up to age 25.
  • ABS Braking Discount – Anti-lock brake equipped vehicles have fewer accidents and therefore earn up to a 10% discount.
  • Multi-line Discount – Larger insurance carriers have a lower premium rate if you buy a life policy as well.
  • Membership in Organizations – Participating in certain professional organizations could qualify you for a break on your next car insurance statement.
  • One Accident Forgiven – but some companies like Allstate, Progressive, and Geico will forgive one accident before your rates go up so long as you haven’t had any claims before the accident.
  • Resident Student – Older children who attend college more than 100 miles from home and won’t have access to an insured vehicle may qualify for this discount.

Please keep in mind that most discounts do not apply the the whole policy. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though you would think you would end up receiving a 100% discount, companies don’t profit that way.

Companies and a summarized list of policyholder discounts can be found below.

  • Progressive has discounts for multi-policy, continuous coverage, good student, homeowner, and online signing.
  • AAA includes discounts for education and occupation, multi-car, AAA membership discount, good student, multi-policy, and pay-in-full.
  • Farmers Insurance offers discounts for business and professional, youthful driver, electronic funds transfer, early shopping, good student, and bundle discounts.
  • Geico may offer discounts for multi-vehicle, anti-theft, good student, defensive driver, and daytime running lights.
  • Esurance discounts include Switch & Save, online shopper, multi-car, good driver, good student, and homeowner.
  • SAFECO may include discounts for drive less, teen safety rewards, bundle discounts, multi-car, homeowner, accident prevention training, and anti-theft.
  • State Farm policyholders can earn discounts including Steer Clear safe driver discount, passive restraint, accident-free, defensive driving training, driver’s education, and multiple autos.

When comparing rates, check with every company the best way to save money. All car insurance discounts may not apply to policies in every state. If you would like to choose from a list of car insurance companies that offer discounts, click this link.

Affordable insurance

There are a variety of methods to shop for insurance, but some are less labor-intensive and much quicker. You can waste a few hours (or days) talking about coverages with insurance companies in your area, or you can utilize the internet to quickly compare rates.

Most major companies belong to a marketplace where prospective buyers complete one form, and every company can provide price quotes based on the submitted data. This system prevents you from having to do quote requests for each company you want a rate for.

To compare rates now click here (opens in new window).

The one downside to doing it this way is you cannot specify the insurers you will receive quotes from. If you would rather choose specific providers to compare prices, we have a page of insurance companies in your area. Click here to view list.

Take whichever approach you prefer, but make sure you are using the same coverage limits and deductibles for every company. If your comparisons have different deductibles it’s impossible to determine the lowest rate for your Mazda MX-5 Miata.

Tailor your auto insurance coverage to you

When it comes to choosing coverage, there really is no cookie cutter policy. Every situation is different so this has to be addressed. Here are some questions about coverages that can aid in determining if you will benefit from professional help.

  • Does my policy cover my teen driver if they drive my company car?
  • When can my company non-renew my policy?
  • Can I make deliveries for my home business?
  • Do I need motorclub coverage?
  • Is other people’s property covered if stolen from my vehicle?
  • Do I benefit by insuring my home with the same company?
  • How high should my uninsured/underinsured coverage be in my state?
  • Does my personal policy cover me when driving out-of-state?

If you’re not sure about those questions, you might consider talking to an agent. To find lower rates from a local agent, complete this form or click here for a list of auto insurance companies in your area. It’s fast, free and can help protect your family.

Insurance coverage breakdown

Having a good grasp of your insurance policy can be of help when determining the right coverages and the correct deductibles and limits. Insurance terms can be confusing and even agents have difficulty translating policy wording. Shown next are typical coverage types found on the average insurance policy.

Comprehensive coverage

Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers claims like damage from a tornado or hurricane, a tree branch falling on your vehicle and rock chips in glass. The maximum amount a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Uninsured/Underinsured Motorist coverage

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family. Usually the UM/UIM limits are similar to your liability insurance amounts.

Liability insurance

Liability coverage provides protection from injuries or damage you cause to a person or their property by causing 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: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 25/50/25 which stand for a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things like loss of income, bail bonds, medical expenses and medical services. How much liability should you purchase? That is a decision to put some thought into, but consider buying as large an amount as possible.

Medical payments coverage and PIP

Med pay and PIP coverage reimburse you for bills for things like hospital visits, X-ray expenses, dental work, EMT expenses and surgery. They are often used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants in addition to getting struck while a pedestrian. PIP is not universally available and may carry a deductible

Collision coverage

Collision coverage pays for damage to your MX-5 Miata caused by collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like sideswiping another vehicle, colliding with another moving vehicle, driving through your garage door and damaging your car on a curb. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. It’s also possible to bump up the deductible to get cheaper collision coverage.

Cheaper insurance is a realistic goal

Affordable 1995 Mazda MX-5 Miata insurance can be bought online in addition to local insurance agencies, so you should be comparing quotes from both to have the best rate selection. Some companies do not provide rate quotes online and many times these smaller companies prefer to sell through independent insurance agents.

When searching for the cheapest insurance coverage quotes, never buy poor coverage just to save money. In many cases, an accident victim reduced uninsured motorist or liability limits only to regret at claim time that the few dollars in savings costed them thousands. Your strategy should be to buy enough coverage at an affordable rate while not skimping on critical coverages.

We just presented quite a bit of information on how to shop for 1995 Mazda MX-5 Miata insurance online. It’s most important to understand that the more rate quotes you have, the higher the chance of saving money. You may even find the best price on insurance coverage is with a small local company. Some small companies may only write in your state and offer lower rates compared to the large companies like Allstate, Geico and Progressive.

More detailed insurance coverage information is located in the articles below: