2004 Mazda RX-8 Insurance Rates

Being forced to pay for overpriced auto insurance premiums can dwindle your monthly budget and make it impossible to make ends meet. Comparison shopping is an excellent way to ensure you are getting the best deal.

Big-name insurance companies like Allstate, Liberty Mutual and State Farm continually hit you with catchy ads and it is difficult to see past the corporate glitz and take the time to shop coverage around.

If you have insurance now or need a new policy, you can use these techniques to find better prices while maximizing coverage. Choosing the best insurance company for you is quite easy. Drivers just need to learn the best way to compare price quotes online.

Lower-cost insurance rates with discounts

Insurance can be prohibitively expensive, but you may find discounts that you may not know about. A few discounts will be applied when you quote, but some need to be requested specifically before they will apply.

• Distant Student Discount – who attend college more than 100 miles from home and do not have access to a covered vehicle can receive lower rates.
• Discounts for New Vehicles – Putting insurance coverage on a new car is cheaper because new vehicles have to meet stringent safety requirements.
• Bundled Policy Discount – If you can combine your home and auto policy and insure them with the same company you could save at least 10% off all policies.
• Discount for Low Mileage – Keeping the miles down on your Mazda could qualify for better prices on cars that stay parked.
• Senior Citizens – Older drivers may be able to get lower premium rates for RX-8 coverage.

You should keep in mind that most discounts do not apply to your bottom line cost. Most only reduce specific coverage prices like physical damage coverage or medical payments. So when the math indicates you can get free auto insurance, companies don’t profit that way.

A partial list of companies that have these discounts include:

• State Farm
• Geico
• SAFECO
• Farmers Insurance
• AAA
• USAA

Check with each company the best way to save money. Savings might not apply in your area. To view insurers that offer multiple discounts, follow this link.

Insurance premiums are influenced by these factors

Consumers need to have an understanding of some of the elements that go into determining your premiums. If you have a feel for what determines premiums, this enables informed choices that can help you get better insurance coverage rates. Many things are used when premium rates are determined. Some factors are common sense like your driving record, but other factors are more transparent like your continuous coverage and annual miles driven.

The factors shown below are most of the major factors companies use to determine premiums.

• Liability protection risk factors in – The liability section of your policy will provide protection if a jury decides you are liable for damages caused by your negligence. Your policy’s liability insurance provides you with a defense in court to attempt to prove you were not liable. It is affordable coverage compared to insuring for physical damage coverage, so buy as much as you can afford.
• Prevent insurance coverage policy lapses – Not having insurance is against the law and as a result your rates will increase for letting your coverage cancel without a new policy in place. Not only will you pay higher rates, getting caught without coverage might get you fines or a revoked license. You may then be required to file a SR-22 with your state department of motor vehicles.
• Are women or men drivers cheaper? – The statistics show that females tend to be a little less risky than males. However, don’t assume that women are BETTER drivers than men. Males and females have accidents at a similar rate, but the male of the species have accidents that have higher claims. In addition to higher claims, males also get more serious tickets such as driving while intoxicated (DWI) or driving recklessly.
• Insurance is expensive for teen drivers – More mature drivers tend to be more responsible, statistically cause fewer accidents and receive fewer citations.Teenage drivers have a tendency to be inattentive when driving therefore insurance coverage rates are much higher.
• Annual miles is a factor – The more you drive your Mazda every year the higher your rates will be. A lot of companies charge rates based on their usage. Cars and trucks left parked in the garage cost less to insure than vehicles that have high annual mileage. Incorrect rating for your RX-8 can result in significantly higher rates. Double check that your declarations sheet reflects the correct driver usage, because it can save money.
• Your credit history is important – An insured’s credit score is a big factor in determining premium rates. Drivers who have excellent credit scores tend to be less risk to insure than drivers who have lower ratings. If your credit score could use some work, you could save money insuring your 2004 Mazda RX-8 by repairing your credit.
• Frequent insurance claims will cost you – Auto insurance companies provide cheaper rates to people who only file infrequent claims. If you’re an insured who likes to file claims you can look forward to either higher rates or even cancellation. Your insurance policy is intended for claims that pose a financial burden.

Tailor your car insurance coverage to you

When it comes to choosing proper insurance coverage for your vehicles, there is no perfect coverage plan. Every situation is different and a cookie cutter policy won’t apply. These are some specific questions might help in determining whether your personal situation would benefit from an agent’s advice.

• Do I need rental car coverage?
• Is business property covered if stolen from my car?
• How can I find cheaper teen driver insurance?
• Am I covered if I break a side mirror?
• When do I need to add a new car to my policy?
• Does having multiple vehicles earn me a discount?
• Does my car insurance cover rental cars?
• When can my company non-renew my policy?

If you don’t know the answers to these questions but you think they might apply to your situation, then you may want to think about talking to a licensed agent. If you don’t have a local agent, simply complete this short form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and can provide invaluable advice.

Save 15 percent in 15 minutes? Is it for real?

Consumers can’t escape the ads that claim the cheapest premium rates by Progressive, Allstate and Geico. They all seem to state the claim that people will save just by switching your policy.

How do they all claim to save you money? Here is how they do it.

Most companies have specific characteristics for the type of driver that earns them the most money. An example of a profitable customer may need to be between 30 and 50, has a clean driving record, and drives a car with an anti-theft system. A propective insured that matches those criteria will get low prices and will save money with a new company.

Potential insureds who do not meet the “perfect” profile will probably be forced to pay higher premiums with the end result being the customer not buying. If you pay attention, the ads say “drivers who switch” but not “everyone who gets a quote” save that kind of money. This is how companies can advertise the savings. Because of the profiling, drivers should get insurance quotes from several different companies. Because you cannot predict which company will be your best fit.

Auto insurance 101

Having a good grasp of car insurance can be of help when determining the best coverages at the best deductibles and correct limits. Policy terminology can be difficult to understand and coverage can change by endorsement. Below you’ll find the usual coverages available from car insurance companies.

Auto collision coverage

Collision insurance pays for damage to your RX-8 caused by collision with another car or object. You have to pay a deductible then your collision coverage will kick in.

Collision coverage pays for claims such as sustaining damage from a pot hole, hitting a parking meter, damaging your car on a curb, hitting a mailbox and colliding with another moving vehicle. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Another option is to raise the deductible in order to get cheaper collision rates.

Liability insurance

Liability coverage will cover injuries or damage you cause to other’s property or people. This insurance protects YOU from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show liability limits of 50/100/50 which stand for $50,000 bodily injury coverage, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage protects against things like court costs, bail bonds, emergency aid and structural damage. How much coverage you buy is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses for things like ambulance fees, dental work and EMT expenses. The coverages can be utilized in addition to your health insurance plan or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. PIP is not universally available and gives slightly broader coverage than med pay

Comprehensive or Other Than Collision

Comprehensive insurance covers damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims such as fire damage, damage from a tornado or hurricane, rock chips in glass and falling objects. The maximum payout your car insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

UM/UIM Coverage

This coverage provides protection from other drivers when they do not carry enough liability coverage. It can pay for medical payments for you and your occupants and damage to your Mazda RX-8.

Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family.

Be a penny pincher

You just read quite a bit of information on how to lower your 2004 Mazda RX-8 insurance premium rates. It’s most important to understand that the more price quotes you have, the better chance you’ll have of finding cheaper insurance. Drivers may discover the biggest savings come from an unexpected company. These companies may cover specific market segments cheaper as compared to the big name companies such as Progressive or Geico.

When shopping online for car insurance, don’t be tempted to skimp on coverage in order to save money. There are a lot of situations where an accident victim reduced uninsured motorist or liability limits to discover at claim time that it was a big mistake. Your focus should be to buy enough coverage at the lowest possible cost and still be able to protect your assets.

More information can be found at these links:

• Rollover Crash FAQ (iihs.org)
• Should I Purchase an Umbrella Liability Policy? (Insurance Information Insitute)
• Drunk Driving Statistics (Insurance Information Insitute)
• Safety Features for Your New Car (State Farm)