2007 Mazda MX-5 Miata Insurance Rates – 6 Discounts for Best Quotes

Are you drained from trying to scrape together enough money to pay your auto insurance bill each month? You are in the same boat as many other consumers. You have so many insurers to pick from, and though it is a good thing to be able to choose, it can be more challenging to find a good deal.

How to buy car insurance online

Finding cheap car insurance rates can be quick and easy. You just need to take a couple of minutes to get quotes online with multiple companies. It is quite easy and can be accomplished by following the guidelines below.

1. The easiest and least time consuming way to find the lowest comparison rates is to use a rate comparison form (click to open form in new window). This form saves time by eliminating separate quotation requests for each price estimate. One quote request will return quotes from car insurance companies with the best prices.
2. A slightly less efficient method to obtain and compare quotes online requires you to visit each company’s website to complete a price quote. For examples sake, let’s assume you want to view quotes from Nationwide, Geico and Liberty Mutual. To do that, you would have to navigate to each company’s site to enter the same coverage data repeatedly, which can get old fast. To view a list of companies in your area, click here.
3. The least efficient method to compare rates is driving around to and from local insurance agencies. The ability to get quotes online eliminates this option unless you have a need for the professional advice that only a licensed agent can provide. Some companies do allow you to get prices online but buy from a local insurance agent.

You can use whichever method you prefer to find lower rates, just be sure you’re using apples-to-apples quote information on every quote you get. If each company quotes different liability limits it’s not possible to find the best deal for your Mazda MX-5 Miata.

Does auto insurance advertising bend the truth?

Drivers can’t get away from ads that claim the best premium rates by State Farm, Geico and Progressive. They all have a common claim that people will save if you change your policy.

How do they all claim to save you money? It’s all in how they say it.

Many companies offer their best rates for the right customer that is profitable for them. A good example of this type of insured could possibly be a married female, has never had a claim, and drives less than 7,500 miles a year. A customer that fits those parameters receives the best car insurance rates and will most likely cut their rates if they switch.

Consumers who do not match the “perfect” profile will be charged more expensive rates with the end result being business not being written. The ads state “drivers that switch” but not “everyone who gets a quote” can get the lowest rates when switching. This is how insurance companies can confidently make the claims of big savings.

This really emphasizes why it is so important to compare quotes as often as possible. It is impossible to guess which company will have the lowest rates.

Do you qualify for discount insurance?

Auto insurance companies don’t list all their discounts in an easy-to-find place, so the following is a list of some of the more common and the harder-to-find credits available to lower your premiums when you buy auto insurance online. If you do not check that you are getting every discount you deserve, you could be paying more than you need to.

• Fewer Miles Equal More Savings – Keeping the miles down on your Mazda may allow you to get cheaper premium rates.
• Use Seat Belts – Using a seat belt and requiring all passengers to wear their seat belts can save a little on the medical payments or PIP coverage costs.
• Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes can reduce accidents so you can save 10 percent or more.
• Early Payment Discounts – If you can afford to pay the entire bill rather than spreading payments over time you may have a lower total premium amount.
• Theft Deterent – Anti-theft and alarm system equipped vehicles have a lower chance of being stolen so companies will give you a small discount.
• Responsible Driver Discounts – Drivers who avoid accidents may receive a discount up to 45% on MX-5 Miata insurance than drivers with accidents.

As a disclaimer on discounts, most of the big mark downs will not be given the the whole policy. Most only cut the cost of specific coverages such as liability and collision coverage. So despite the fact that it appears adding up those discounts means a free policy, that’s just not realistic.

A few popular companies and some of the discounts are outlined below.

• Geico offers discounts for anti-lock brakes, five-year accident-free, federal employee, good student, membership and employees, and defensive driver.
• SAFECO offers discounts including anti-lock brakes, teen safety rewards, accident prevention training, multi-car, homeowner, drive less, and safe driver.
• State Farm may include discounts for defensive driving training, accident-free, multiple autos, good student, good driver, and Steer Clear safe driver discount.
• MetLife offers premium reductions for defensive driver, good driver, accident-free, claim-free, and good student.
• 21st Century may have discounts that include driver training, 55 and older, air bags, theft prevention, automatic seat belts, anti-lock brakes, and student driver.
• Progressive has savings for online quote discount, good student, online signing, multi-policy, homeowner, and continuous coverage.

If you are trying to find affordable auto insurance quotes, ask each company or agent how many discounts you can get. Savings may not apply in every state. If you would like to see a list of companies that offer the discounts shown above, click here to view.

What insurance coverages do I need?

When choosing the right insurance coverage for your vehicles, there isn’t really a single plan that fits everyone. Everyone’s situation is unique and your policy should reflect that. These are some specific questions could help you determine whether your personal situation will benefit from professional help.

• Is my nanny covered when driving my vehicle?
• Does coverage extend to Mexico or Canada?
• What should my uninsured motorist coverage limits be in my state?
• Is my state a no-fault state?
• Which companies will insure high-risk drivers?
• What is PIP insurance?
• Is business property covered if stolen from my car?
• Do I need roadside assistance coverage?
• What is an SR-22 filing?

If you don’t know the answers to these questions, you may need to chat with an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and can provide invaluable advice.

Parts of your insurance policy

Learning about specific coverages of a insurance policy can be of help when determining the right coverages and the correct deductibles and limits. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. These are typical coverages found on the average insurance policy.

Collision coverages – This pays to fix your vehicle from damage caused by collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things such as sideswiping another vehicle, crashing into a ditch and rolling your car. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible to get cheaper collision coverage.

Auto liability insurance – Liability coverage provides protection from damage or injury you incur to other people or property by causing an accident. It protects you against other people’s claims, and doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 50/100/50 that means you have $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property. Alternatively, you may have one number which is a combined single limit which combines the three limits into one amount with no separate limits for injury or property damage.

Liability can pay for things like emergency aid, loss of income, repair bills for other people’s vehicles and court costs. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive coverage – This coverage pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things such as rock chips in glass, hitting a deer, damage from flooding and damage from getting keyed. The maximum amount a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Medical payments coverage and PIP – Med pay and PIP coverage provide coverage for short-term medical expenses for things like surgery, funeral costs and prosthetic devices. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. They cover all vehicle 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 but it provides additional coverages not offered by medical payments coverage

Uninsured/Underinsured Motorist coverage – This coverage protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Mazda MX-5 Miata.

Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages are set the same as your liablity limits.

What is YOUR best insurance company?

As you go through the steps to switch your coverage, do not buy lower coverage limits just to save a few bucks. There have been many cases where an insured dropped uninsured motorist or liability limits and learned later that the small savings ended up costing them much more. Your objective should be to buy enough coverage at the best cost, not the least amount of coverage.

Budget-conscious 2007 Mazda MX-5 Miata insurance can be purchased on the web in addition to many insurance agents, so you need to quote auto insurance with both so you have a total pricing picture. There are still a few companies who may not offer internet price quotes and many times these regional carriers sell through independent insurance agents.

More tips and info about insurance coverage is available in the articles below:

• Vehicle Insurance (Wikipedia)
• Young Drivers: The High Risk Years Video (iihs.org)
• Rental Reimbursement Coverage (Allstate)
• What Determines the Price of My Auto Insurance Policy? (Insurance Information Insitute)