How Much Does 2001 Mazda MX-5 Miata Car Insurance Cost?

Finding lower-cost insurance coverage can seem to be intimidating for drivers not familiar with comparing and buying insurance coverage on the internet. With such a big selection of agents and companies, how are we expected to even start to compare them all to find the cheapest available price?

Consumers should take time to price shop coverage before your policy renews since insurance prices trend upward over time. Even if you think you had the best price for MX-5 Miata insurance a few years ago you can probably find a lower rate today. Block out anything you think you know about insurance coverage because you’re about to find out the tricks you need to know to buy cheaper insurance coverage.

Lower rate quotes with these auto insurance discounts

Insuring your vehicles can cost a lot, but there may be some discounts to help bring down the price. A few discounts will automatically apply at the time you complete a quote, but some may not be applied and must be manually applied prior to receiving the credit. If you are not receiving all the discounts you qualify for, you could be paying more than you need to.

  • Low Mileage Discounts – Keeping the miles down on your Mazda could earn cheaper rates.
  • Anti-theft System – Cars equipped with anti-theft or alarm systems help deter theft and therefore earn up to a 10% discount.
  • Anti-lock Brakes – Cars and trucks with anti-lock braking systems are much safer to drive so companies give up to a 10% discount.
  • Multiple Vehicles – Buying a policy with primary and secondary vehicles with one company may reduce the rate for each vehicle.
  • Military Discounts – Having an actively deployed family member could be rewarded with lower rates.
  • Homeowners Pay Less – Being a homeowner can help you save on auto insurance because maintaining a house is proof that your finances are in order.

As a disclaimer on discounts, many deductions do not apply to the overall cost of the policy. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. Even though it appears having all the discounts means you get insurance for free, that’s just not realistic.

A few companies that may offer quotes with some of the above discounts are:

When getting a coverage quote, ask every company the best way to save money. A few discounts may not apply to policies in your state. If you would like to see a list of insurers that have a full spectrum of discounts, click here.

Insurance coverage can get complicated

When choosing the best insurance coverage coverage, there really is no “perfect” insurance plan. Everyone’s situation is a little different.

Here are some questions about coverages that could help you determine whether or not you may require specific advice.

  • How can I find cheaper teen driver insurance?
  • Can I afford low physical damage deductibles?
  • What is medical payments coverage?
  • If my 2001 Mazda MX-5 Miata is totaled, can I afford another vehicle?
  • Should I drop comprehensive coverage on older vehicles?
  • Can I get a multi-policy discount?
  • What if I owe more than I can insure my car for?
  • Do I get a pro-rated refund if I cancel my policy early?
  • Is a fancy paint job covered?
  • Am I covered when driving someone else’s vehicle?

If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an insurance agent. If you don’t have a local agent, take a second and complete this form.

Drivers who switch save $409 a year? Really?

Insurance coverage providers like Geico, State Farm and Progressive continually stream ads on television and other media. They all seem to advertise claims of big savings just by moving your policy. How does each company save you money? It’s all in the numbers.

Many companies quote the lowest rates for the type of driver that earns them a profit. An example of a profitable risk profile might be over the age of 45, has no tickets, and drives a safe vehicle. Any customer who meets those qualifications gets the lowest rates and as a result will probably save money with a new company.

People who fall outside those standards may be required to pay higher prices and business going elsewhere. If you listen to the ad wording, they say “drivers that switch” not “everybody who quotes” save that kind of money. That’s the way companies can truthfully lure you into getting a quote.

This really drives home the point why you really should do a price quote comparison at every renewal. It’s impossible to know which insurance companies will give you lower premium rates than your current company.

Insurance coverage basics

Knowing the specifics of your policy aids in choosing the best coverages for your vehicles. Insurance terms can be difficult to understand and nobody wants to actually read their policy.

Medical costs insurance

Coverage for medical payments and/or PIP pay for expenses for things like pain medications, X-ray expenses and nursing services. The coverages can be used to fill the gap from your health insurance policy or if you do not have health coverage. Coverage applies to both the driver and occupants as well as if you are hit as a while walking down the street. PIP coverage is not an option in every state and may carry a deductible

Liability coverages

Liability insurance will cover damage or injury you incur to other people or property in an accident. This insurance protects YOU against claims from other people. It does not cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000. Some companies may use a combined single limit or CSL that pays claims from the same limit rather than limiting it on a per person basis.

Liability insurance covers things like attorney fees, court costs, repair costs for stationary objects, legal defense fees and emergency aid. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

Collision insurance

Collision insurance will pay to fix damage to your MX-5 Miata from colliding with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as damaging your car on a curb, sideswiping another vehicle, sustaining damage from a pot hole and rolling your car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to increase the deductible to save money on collision insurance.

Comprehensive or Other Than Collision

Comprehensive insurance covers 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 can pay for things such as vandalism, damage from flooding, damage from a tornado or hurricane and hitting a deer. The maximum payout you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your Mazda MX-5 Miata.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea. Normally your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Final considerations

Affordable 2001 Mazda MX-5 Miata insurance is available from both online companies and with local insurance agents, and you need to price shop both to have the best rate selection. Some insurance providers do not provide online rate quotes and many times these small, regional companies provide coverage only through local independent agencies.

As you restructure your insurance plan, don’t be tempted to buy poor coverage just to save money. In many instances, an insured dropped comprehensive coverage or liability limits only to discover later that a couple dollars of savings turned into a financial nightmare. Your goal should be to purchase plenty of coverage at an affordable rate, but do not skimp to save money.

Drivers who switch companies do it for a number of reasons such as lack of trust in their agent, unfair underwriting practices, denial of a claim and even high rates after DUI convictions. It doesn’t matter what your reason, finding a new company is actually quite simple.

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