2002 Mazda MX-5 Miata Car Insurance Rates

No one looks forward to paying premiums for insurance coverage, especially when they are aware that they are paying too much.

Multiple car insurance companies compete to insure your vehicles, and it can be difficult to compare rates and get the definite cheapest price

Consumers should take time to shop coverage around every six months since prices change regularly. Even if you got the best rate on MX-5 Miata coverage last year you may be paying too much now. Forget all the misinformation about insurance coverage because it’s time to teach you the tricks you need to know to reduce your cost while increasing coverage.

First Step: Get free insurance coverage quotes

Many insurance companies allow you to get pricing directly from their websites. Getting quotes is pretty painless as you simply enter the coverages you want into the quote form. After you submit the form their system pulls your credit score and driving record and returns pricing information based on the information you submitted. Being able to quote online makes it simple to compare prices but the work required to visit many different websites and complete many quote forms is monotonous and tiresome. But it’s absolutely necessary to get many rate quotes if you are searching for the lowest possible prices on insurance coverage.

There is a better way!

A quicker way to find better insurance coverage pricing utilizes a single form to return rates from a lot of companies. It saves time, eliminates repetitive work, and makes comparison shopping much more enjoyable. Once the form is submitted, it gets priced and you can select any of the pricing results.

If one or more price quotes are lower than your current rates, it’s easy to complete the application and buy the policy. The entire process takes just a few minutes to complete and you will find out if you’re overpaying now.

To save time and compare rates using this form now, click here to open in new window and submit the form. If you have coverage now, it’s recommended you copy the coverages identical to your current policy. This makes sure you are getting rate quotes for the exact same coverage.

Switch companies and save? Really?

State Farm and Allstate continually stream television, radio, and online ads. They all seem to say the same thing about savings if you move to their company. It sounds good, but how can they all charge you less for car insurance? It’s all in the words they use.

Insurance companies have a certain “appetite” for the type of customer that will most likely be profitable. A good example of a profitable risk profile might have to be over the age of 50, is a homeowner, and drives newer vehicles. Someone who meets those qualifications will probably get cheap car insurance rates and is almost guaranteed to save a lot of money.

Consumers who don’t measure up to the ideal profile will be charged a higher premium and this results in business not being written. If you listen to the ad wording, they say “customers that switch” but not “all drivers who get quotes” save that much. This is how insurance companies can claim big savings.

This emphasizes why you absolutely need to compare quotes as often as possible. Because without a comparison, you cannot know with any certainty which company will have the best rates at this point in time.

Six tips to get lower-cost insurance rates

Smart consumers have a good feel for the rating factors that are used to determine auto insurance rates. If you have a feel for what determines premiums, this allows you to make educated decisions that can help you get lower rates. Many factors are taken into consideration when quoting car insurance. Some are pretty understandable like your driving record, although others are more transparent like your continuous coverage or how safe your car is.

  • Decrease prices by maintaining coverage – Driving your car without having proper coverage is a misdemeanor and companies may charge more for letting your insurance coverage expire. And not only will your rates increase, being ticketed for driving with no insurance could earn you a fine, jail time, or a revoked license. You may need to submit proof of financial responsibility or a SR-22 with your state motor vehicle department to get your license reinstated.
  • Incidental coverages can add up – Policies have extra bells and whistles that you can buy if you aren’t careful. Insurance for things like replacement cost coverage, high-cost glass coverage, and extra equipment coverage could be just wasting money. They may seem like a good idea at first, but if they’re wasting money remove them and pocket the money.
  • Bundle home and auto and save – Lots of companies will award lower prices to customers who carry more than one policy in the form of a multi-policy discount. Even if you’re getting this discount drivers will still want to shop around to ensure the best deal. Consumers may find lower rates by splitting coverages up.
  • Gender and insurance coverage prices – Statistics demonstrate females are less aggressive when driving. This data doesn’t prove that women are BETTER drivers than men. Men and women cause accidents at about the same rate, but males cause more damage and cost insurance companies more money. They also get more serious tickets like driving under the influence (DUI). Youthful male drivers cause the most accidents and thus pay the highest rates.
  • Your location is a factor – Residing in smaller towns and rural areas of the country can be a good thing when insuring your vehicles. Urban drivers have much more traffic and more severe claims. Less people living in that area corresponds to lower accident rates and a lower car theft rate.
  • Cheaper rates after marriage – Having a wife or husband can actually save you money on your policy. Marriage generally demonstrates drivers are more mature than a single person it has been statistically shown that married drivers tend to file fewer claims.

Car insurance policy discounts you can’t miss

Properly insuring your vehicles can get expensive, but companies offer discounts that you may not even be aware of. A few discounts will automatically apply when you quote, but a few must be specially asked for before they will apply.

  • Resident Student – Kids who are enrolled in higher education away from home and do not have access to a covered vehicle could qualify for this discount.
  • Include Life Insurance and Save – If the company offers life insurance, you could get a discount if you purchase a life insurance policy as well.
  • Military Discounts – Being deployed in the military may qualify for rate reductions.
  • Anti-theft Discount – Cars, trucks, and SUVs optioned with advanced anti-theft systems help deter theft and therefore earn up to a 10% discount.
  • ABS Braking Discount – Vehicles with anti-lock braking systems have fewer accidents and earn discounts up to 10%.
  • Early Renewal Discounts – Some larger companies reward drivers for switching companies prior to your current policy expiration. This can save 10% or more.
  • Defensive Driver Discount – Participating in a course that instructs on driving safety could save 5% or more if you qualify.

Drivers should understand that most of the big mark downs will not be given the the whole policy. Some only apply to the cost of specific coverages such as liability and collision coverage. So even though they make it sound like you could get a free car insurance policy, insurance companies wouldn’t stay in business.

A few popular companies and some of the premium reductions they offer are included below.

  • State Farm may have discounts that include good student, safe vehicle, accident-free, anti-theft, and student away at school.
  • Farmers Insurance policyholders can earn discounts including early shopping, mature driver, youthful driver, homeowner, good student, and business and professional.
  • Geico has discounts for driver training, defensive driver, good student, seat belt use, five-year accident-free, daytime running lights, and anti-lock brakes.
  • American Family includes discounts for good driver, bundled insurance, accident-free, air bags, defensive driver, early bird, and mySafetyValet.
  • Nationwide may include discounts for family plan, anti-theft, Farm Bureau membership, business or organization, accident-free, easy pay, and good student.
  • Progressive may offer discounts for multi-vehicle, multi-policy, online quote discount, homeowner, good student, and online signing.

When comparing rates, check with each company to give you their best rates. Some discounts listed above might not be available to policyholders in every state. For a list of providers with discount rates, click here to view.

Insurance agents can help

When buying adequate coverage for your vehicles, there really is no cookie cutter policy. Every situation is different and your policy should reflect that. These are some specific questions can help discover if you might need professional guidance.

  • Do I need motorclub coverage?
  • How can I force my company to pay a claim?
  • What is roadside assistance coverage?
  • Does my policy pay for OEM or aftermarket parts?
  • Am I covered if I hit a deer?
  • When should I buy a commercial auto policy?
  • What should my uninsured motorist coverage limits be in my state?

If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to an agent. To find an agent in your area, complete this form or click here for a list of insurance companies in your area.

Insurance policy coverages for a 2002 Mazda MX-5 Miata

Having a good grasp of your policy aids in choosing which coverages you need and the correct deductibles and limits. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. Listed below are the usual coverages found on the average insurance policy.

Comprehensive coverages

This coverage covers damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things like hitting a bird, damage from getting keyed, a broken windshield and damage from a tornado or hurricane. The highest amount your insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses such as funeral costs, surgery, dental work, doctor visits and EMT expenses. They are used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Coverage applies to both the driver and occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is not available in all states and may carry a deductible

Collision insurance

This will pay to fix damage to your MX-5 Miata resulting from a collision with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like crashing into a ditch, hitting a parking meter, hitting a mailbox and sustaining damage from a pot hole. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to raise the deductible to save money on collision insurance.

Liability

Liability insurance can cover damage that occurs to other’s property or people. It protects YOU from legal claims by others, and doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 50/100/50 that means you have a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property. Another option is one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage protects against things like medical services, medical expenses and loss of income. How much liability coverage do you need? That is a decision to put some thought into, but you should buy as high a limit as you can afford.

Uninsured and underinsured coverage

This coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Power to the consumer

When buying insurance coverage, do not skimp on coverage in order to save money. There are a lot of situations where consumers will sacrifice uninsured motorist or liability limits only to regret at claim time that they should have had better coverage. Your focus should be to find the BEST coverage at the best price while not skimping on critical coverages.

In this article, we presented quite a bit of information on how to compare 2002 Mazda MX-5 Miata insurance rates online. The key thing to remember is the more price quotes you have, the better chance you’ll have of finding inexpensive auto insurance. Consumers may even find the best rates are with the least-expected company. These companies may often insure only within specific states and give getter rates compared to the large companies like Progressive or Geico.

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