2016 Mazda MX-5 Miata Insurance Cost – 9 Tips for Cheaper Prices

Finding cheaper insurance for your Mazda MX-5 Miata can be an all-consuming task, but you can learn our auto insurance buying tips to save time.

There are both good and bad ways to buy auto insurance and we’ll show you the absolute fastest way to quote coverages for your Mazda and find the lowest price either online or from local insurance agents.

Consumers need to price shop coverage as often as possible since insurance prices change quite often. Just because you had the best rates on MX-5 Miata insurance two years ago you will most likely find a better rate quote today. Forget anything you know (or think you know) about auto insurance because you’re about to find out the only way to buy cheaper auto insurance.

If you have a current auto insurance policy or are looking for a new policy, you can use these tips to find better prices and possibly find even better coverage. Locating cheaper coverage is easy if you know what you’re doing. Drivers only need an understanding of how to compare company rates online.

The quickest way to get policy rate comparisons is to know the trick auto insurance companies allow for online access to give free rates quotes. The one thing you need to do is provide a small amount of information like what your job is, your education level, whether you drive to work or school, and if it has an anti-theft system. That information gets transmitted to many of the top insurers and they respond with quotes instantly to find the best rate.

Get cheap insurance quotes with discounts

The price of auto insurance can be rather high, but you may be missing some discounts that can drop the cost substantially. Most are applied when you get a quote, but less common discounts must be specially asked for before you will receive the discount.

  • Safety Restraint Discount – Drivers who require all vehicle occupants to buckle up can save up to 10 percent (depending on the company) off PIP or medical payments premium.
  • Buy New and Save – Insuring a new car can get you a discount because new model year vehicles have to meet stringent safety requirements.
  • Sign Online – Certain companies will provide an incentive for signing up on their website.
  • Low Mileage – Driving less could qualify for lower rates due to less chance of an accident.
  • Save with More Vehicles Insured – Buying insurance for more than one vehicle on the same insurance policy can reduce the rates for all insured vehicles.
  • 55 and Retired – Older drivers may receive a small decrease in premiums on MX-5 Miata insurance.
  • Passenger Safety Discount – Factory air bags and/or automatic seat belt systems can get savings of up to 25% or more.
  • Club Memberships – Participating in qualifying employment or professional organizations is a good way to get lower rates on your bill.
  • Theft Prevention Discount – Cars and trucks that have factory anti-theft systems are stolen less frequently and will save you 10% or more.

Discounts lower rates, but some credits don’t apply to your bottom line cost. Some only reduce the price of certain insurance coverages like comprehensive or collision. Even though it appears all those discounts means the company will pay you, insurance companies aren’t that generous.

A few popular companies and their possible discounts are shown below.

  • Geico policyholders can earn discounts including emergency military deployment, multi-policy, defensive driver, anti-theft, and federal employee.
  • Travelers includes discounts for early quote, new car, home ownership, hybrid/electric vehicle, and save driver.
  • Nationwide offers premium reductions for business or organization, multi-policy, anti-theft, Farm Bureau membership, and easy pay.
  • Farmers Insurance may offer discounts for mature driver, pay in full, switch companies, youthful driver, teen driver, and homeowner.
  • Esurance may have discounts that include anti-lock brakes, good student, Pac-12 alumni, safety device, and multi-policy.
  • State Farm offers discounts for driver’s education, multiple autos, good student, student away at school, good driver, and multiple policy.
  • Progressive may include discounts for good student, multi-policy, multi-vehicle, online quote discount, continuous coverage, and online signing.
  • Mercury Insurance discounts include anti-theft, age of vehicle, multi-policy, accident-free, low natural disaster claims, good student, and ease of repair.

Double check with each insurance company to apply every possible discount. Some discounts may not apply to policyholders in your area. If you would like to view insurance companies that offer multiple discounts, click this link.

Tailor your auto insurance coverage to you

When choosing the best auto insurance coverage for your personal vehicles, there really is not a single plan that fits everyone. Your needs are not the same as everyone else’s.

For example, these questions may help highlight if your insurance needs may require specific advice.

  • When would I need additional glass coverage?
  • When should I buy a commercial auto policy?
  • What vehicles should carry emergency assistance coverage?
  • Will my insurance pay for OEM parts?
  • How can I get high-risk coverage after a DUI?
  • Does my 2016 Mazda MX-5 Miata need full coverage?

If it’s difficult to answer those questions but you know they apply to you, you may need to chat with a licensed agent. If you want to speak to an agent in your area, take a second and complete this form. It’s fast, free and may give you better protection.

Insurance coverages explained

Learning about specific coverages of your policy can be of help when determining which coverages you need and the correct deductibles and limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Collision coverage protection

This coverage pays to fix your vehicle from damage resulting from colliding with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision coverage protects against claims like sustaining damage from a pot hole, colliding with another moving vehicle, crashing into a building, backing into a parked car and scraping a guard rail. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Drivers also have the option to raise the deductible to get cheaper collision coverage.

Liability insurance

Liability coverage provides protection from damage that occurs to other people or property that is your fault. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 50/100/50 which means a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery. Occasionally you may see a combined limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage protects against claims such as loss of income, funeral expenses and bail bonds. The amount of liability coverage you purchase is a personal decision, but buy as much as you can afford.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance reimburse you for bills such as ambulance fees, pain medications, prosthetic devices, rehabilitation expenses and dental work. The coverages can be used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. Coverage applies to you and your occupants and also covers any family member struck as a pedestrian. PIP is not available in all states and may carry a deductible

Comprehensive insurance

Comprehensive insurance will pay to fix damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers claims such as vandalism, damage from flooding, fire damage, a broken windshield and hitting a bird. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Uninsured/Underinsured Motorist (UM/UIM)

This protects you and your vehicle when other motorists either have no liability insurance or not enough. Covered claims include injuries to you and your family and also any damage incurred to your Mazda MX-5 Miata.

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