Cheaper 2011 Mazda RX-8 Car Insurance Rates

Feel like you’re a prisoner to overpriced car insurance? Trust us, there are many drivers thinking the same thing.

Due to the increasing number of options when it comes to car insurance, it is hard for the average consumer to locate the most cost effective insurance company.

Discount insurance rates

Some providers do not advertise all disounts very well, so we break down a few of the more well known and the harder-to-find credits available to lower your premiums when you buy insurance online.

• Save with a New Car – Buying a new car model is cheaper because newer vehicles are generally safer.
• Defensive Driver Discounts – Successfully completing a defensive driver course could earn you a small percentage discount and make you a better driver.
• ABS Braking Discount – Cars and trucks with ABS and/or traction control can stop better under adverse conditions and will save you 10% or more.
• Low Mileage Discounts – Low annual miles could be rewarded with slightly better prices than normal.
• Good Driver Discount – Insureds without accidents can pay as much as 50% less on RX-8 coverage than drivers with accidents.
• Telematics Discount – Drivers who agree to allow their insurance company to look at driving habits by installing a telematics device like Allstate’s Drivewise might see lower rates if they exhibit good driving behavior.
• Include Life Insurance and Save – Select companies reward you with a small discount if you purchase auto and life insurance together.
• Drivers Education – Teen drivers should sucessfully take a drivers education course if offered at their school.
• Discount for Home Ownership – Owning a house may earn you a small savings because of the fact that having a home demonstrates responsibility.

You should keep in mind that most of the big mark downs will not be given to the overall cost of the policy. Most only cut specific coverage prices like medical payments or collision. Even though it may seem like all those discounts means the company will pay you, companies wouldn’t make money that way.

Car insurance companies who might offer some of the discounts shown above may include but are not limited to:

• Farmers Insurance
• State Farm
• Liberty Mutual
• MetLife
• Progressive

When comparing rates, check with all companies you are considering which discounts can lower your rates. All car insurance discounts may not be offered in your area.

Tailor your car insurance coverage to you

When buying proper insurance coverage, there really is not a cookie cutter policy. Everyone’s situation is a little different so your insurance needs to address that. For instance, these questions could help you determine if your insurance needs would benefit from an agent’s advice.

• Are my friends covered when driving my car?
• Does my insurance cover my expensive audio equipment?
• Does my medical payments coverage pay my health insurance deductible?
• Is my camper covered by my car insurance policy?
• When should I drop full coverage on my 2011 Mazda RX-8?
• Can my teen driver be rated on a liability-only vehicle?
• When should I buy a commercial auto policy?

If it’s difficult to answer those questions, you might consider talking to a licensed agent. To find an agent in your area, simply complete this short form or you can also visit this page to select a carrier

Are auto insurance companies telling the truth?

Auto insurance companies such as Progressive, Geico, Allstate and State Farm continually stream ads on television and other media. They all make the same claim that you can save if you change to them. How does each company save you money? You have to listen carefully.

Insurance companies quote their cheapest rates for the right customer that will add to their bottom line. One example of this type of driver might be over the age of 35, insures multiple vehicles, and drives a car with an anti-theft system. Any customer that hits that “sweet spot” will get low prices as well as save a lot if they switch.

Consumers who may not quite match the ideal profile will see a more expensive rate which translates to the driver buying from a lower-cost company. If you listen to the ad wording, they say “customers who switch” not “everyone who quotes” save that much when switching. That is how companies can truthfully advertise the way they do.

This really drives home the point why you should quote coverage with many companies. It’s not possible to predict which company will have the best rates for your profile.

The coverage is in the details

Having a good grasp of your insurance policy can help you determine appropriate coverage at the best deductibles and correct limits. Insurance terms can be impossible to understand and coverage can change by endorsement. Listed below are typical coverages available from insurance companies.

Uninsured/Underinsured Motorist coverage

This coverage provides protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries and damage to your Mazda RX-8.

Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Normally the UM/UIM limits do not exceed the liability coverage limits.

Liability

This can cover damages or injuries you inflict on people or other property. It protects YOU from claims by other people. Liability doesn’t cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 25/50/25 which means a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Occasionally you may see a combined limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for claims like medical expenses, emergency aid, repair bills for other people’s vehicles, attorney fees and pain and suffering. How much liability should you purchase? That is up to you, but consider buying as high a limit as you can afford.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage pay for bills for things like nursing services, doctor visits, rehabilitation expenses and ambulance fees. They can be utilized in addition to your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Collision insurance

This coverage covers damage to your RX-8 caused by collision with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like crashing into a building, colliding with a tree, sideswiping another vehicle and crashing into a ditch. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to bring the cost down.

Comprehensive coverage

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things like theft, hitting a deer and hitting a bird. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Buy online or local, you save

Affordable 2011 Mazda RX-8 insurance is available both online and from local insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. There are still a few companies who may not have online rate quotes and these small insurance companies only sell coverage through independent agents.

We just covered some good ideas how to get a better price on 2011 Mazda RX-8 insurance. The key concept to understand is the more quotes you get, the better likelihood of getting cheaper insurance. You may be surprised to find that the best price on auto insurance is with a smaller regional carrier. Regional companies can often insure niche markets at a lower cost than their larger competitors like State Farm and Allstate.

More learning opportunities

• Rental Car Insurance Tips (Insurance Information Insitute)
• Medical Payments Coverage (Liberty Mutual)
• Protecting Teens from Drunk Driving (Insurance Information Insitute)
• Auto Insurance Learning Center (State Farm)
• Understanding Your Insurance Deductible (Insurance Information Insitute)
• What is Covered by an Auto Insurance Policy? (Insurance Information Insitute)