Cheap Insurance for a Mazda MX-5 Miata in Riverside

Finding cheaper insurance for a Mazda MX-5 Miata in California can turn out to be a painful process, but you can learn a few tricks to make it easier.

There are more efficient ways to shop for car insurance and we’ll show you the absolute fastest way to quote coverages for a new or used Mazda and get the lowest price from both online companies and Riverside agents.

It’s an obvious conclusion that car insurance companies don’t want their customers to go rate shopping. Insureds who shop around for the cheapest price are inclined to buy a different policy because they stand a good chance of finding coverage at a more affordable price. A survey found that drivers who compared rate quotes regularly saved approximately $3,450 over four years as compared to drivers who never shopped around for lower prices.

If finding the lowest price on Mazda MX-5 Miata insurance is your objective, then having some insight into how to find and compare coverage rates can help you succeed in saving money.

It’s smart to do rate comparisons periodically because prices are constantly changing. Even if you think you had the best deal on Mazda MX-5 Miata insurance in Riverside on your last policy a different company probably has better rate quotes today. You can find a lot of wrong information about MX-5 Miata insurance online, but by reading this article, you’re going to learn some of the best techniques to buy car insurance cheaper in Riverside.

The companies shown below are ready to provide price quotes in California. If the list has multiple companies, we suggest you compare several of them to get a more complete price comparison.

These discounts can lower your insurance rates

Companies offering auto insurance don’t always advertise all their discounts in a way that’s easy to find, so here is a list a few of the more well known and the harder-to-find discounts that may be available. If you’re not getting every credit you qualify for, you are just wasting money.

• Discount for Good Grades – A discount for being a good student could provide a savings of up to 20% or more. You can use this discount normally well after school through age 25.
• Early Switch Discount – A few insurance companies allow discounts for switching policies before your current expiration date. You can save around 10% with this discount.
• Save with a New Car – Putting insurance coverage on a new MX-5 Miata may earn a small discount compared to insuring an older model.
• Theft Deterrent – Anti-theft and alarm system equipped vehicles are less likely to be stolen and qualify for as much as a 10% discount.
• Life Insurance – Not every insurance company offers life insurance, but if they do you may earn a small discount if you purchase life insurance from them.
• Military Discounts – Having a family member in the military could be rewarded with lower insurance rates.
• Passive Restraints – Vehicles equipped with air bags or automatic seat belts can get savings of 20 to 30 percent.
• Accident Forgiveness – Not a discount per se, but a handful of insurance companies may permit one accident without getting socked with a rate hike so long as you are claim-free for a certain period of time.
• Drivers Education – Require your teen driver to enroll in driver’s education if it’s offered in school.
• Multi-policy Discount – If you can combine your auto and homeowners policy and insure them with the same company you could save at least 10% off all policies.

You can save money using discounts, but most of the big mark downs will not be given to the whole policy. A few only apply to specific coverage prices like physical damage coverage or medical payments. Even though it appears all the discounts add up to a free policy, insurance companies aren’t that generous.

The chart below shows the comparison of Mazda MX-5 Miata insurance costs with and without policy discounts. The costs are based on a female driver, no accidents or driving violations, California state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, safe-driver, claim-free, homeowner, and multi-policy discounts applied.

Larger insurance companies and some of their more popular discounts include:

• State Farm offers discounts for good driver, accident-free, anti-theft, student away at school, and passive restraint.
• Progressive offers discounts including homeowner, multi-policy, multi-vehicle, online quote discount, continuous coverage, good student, and online signing.
• Progressive has savings for good student, continuous coverage, multi-vehicle, homeowner, multi-policy, online quote discount, and online signing.
• MetLife may have discounts that include claim-free, good driver, good student, multi-policy, accident-free, defensive driver
• Farm Bureau has discounts for driver training, multi-policy, multi-vehicle, good student, 55 and retired, and renewal discount.
• GEICO policyholders can earn discounts including seat belt use, good student, five-year accident-free, anti-theft, anti-lock brakes, and defensive driver.
• SAFECO offers premium reductions for multi-car, accident prevention training, bundle discounts, anti-lock brakes, teen safety rewards, and anti-theft.

When quoting, ask each company or agent which discounts they offer. A few discounts may not be offered in Riverside. To see insurance companies who offer discounts in California, follow this link.

Rates and statistics

The data table shown below outlines estimates of coverage costs for Mazda MX-5 Miata models. Learning more about how rates are figured can aid in making smart buying decisions.

Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Price estimates do not factor in the specific area where the vehicle is garaged which can revise prices noticeably.

Deductible comparison

One of the hardest decisions when shopping for insurance is which deductibles should you choose. The comparisons below show the rate difference when you choose different coverage deductibles. The first rate quote example uses a $100 physical damage deductible and the second price chart uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Price estimates do not factor in specific Riverside garaging location which can alter auto insurance rates noticeably.

Using the data above, we can ascertain that using a $100 deductible will cost you approximately $27 more each month or $324 every year averaged for all MX-5 Miata models than opting for the higher $500 deductible. Because you would pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you go at a minimum 15 months between claim filings, you would save more money if you choose a higher deductible. The table below illustrates a better example of how this decision is made.

The diagram below demonstrates how deductible levels and can affect Mazda MX-5 Miata annual premium costs for different age groups. The data assumes a single male driver, comprehensive and collision coverage, and no other discounts are factored in.

Accidents and violations increase rates

The illustration below demonstrates how traffic citations and at-fault fender-benders can impact Mazda MX-5 Miata insurance costs for each age group. The prices are based on a single male driver, full physical damage coverage, $100 deductibles, and no discounts are factored in.

Gender-based insurance premiums in Riverside

The example below compares Mazda MX-5 Miata insurance prices for male and female drivers. The information is based on no claims, a clean driving record, full coverage, $1,000 deductibles, single marital status, and no discounts are taken into consideration.

How Insurance Providers Determine Mazda MX-5 Miata Insurance Costs

A large part of saving on car insurance is knowing the rating factors that are used to determine the price you pay for car insurance. If you know what controls the rates you pay, this allows you to make educated decisions that could result in better car insurance rates. Lots of things are considered when pricing auto insurance. Most are fairly basic like an MVR report, although others are more transparent like your vehicle usage or how safe your car is.

The factors shown below are just a few of the factors utilized by car insurance companies to help set your premiums.

See if your company offers a multi-policy discount – Some car insurance companies afford lower prices to customers who buy several policies from them such as combining an auto and homeowners policy. Discounts can add up to as much as ten percent or more Even if you already get this discount, you still need to compare other Riverside MX-5 Miata insurance rates to verify if the discount is saving money.

Don’t cut corners with liability – The liability coverage on your policy kicks in if ever a jury decides you are liable for causing damage or personal injury in an accident. Liability insurance provides for a legal defense which can cost a lot. This coverage is relatively inexpensive as compared to coverage for physical damage, so insureds should have plenty of protection for their assets.

Your address can push rates up or down – Living in small towns and rural areas is a good thing when it comes to car insurance. Fewer drivers and short commutes means fewer accidents in addition to lower liability claims. City drivers have more auto accidents and a longer drive to work. Spending more time driving means a statistically higher chance of an accident.

Reserve claims for larger damages – If you file a lot of claims you can look forward to either policy cancellation or increased premiums. Insurance companies in California give better rates to policyholders who file claims infrequently. Your insurance policy is intended for larger claims.

More annual miles equals more premium – The more you drive your Mazda each year the higher your rates will be. The majority of insurers price each vehicle’s coverage based on how the vehicle is used. Cars that sit idle most of the time cost less to insure than those used for commuting. Having the wrong rating on your MX-5 Miata can cost quite a bit. Ask your agent if your declarations sheet is showing the proper vehicle usage.

Mazda MX-5 Miata statistical loss data – Companies factor in historical loss data when setting rates for each model. Vehicles that the statistics show to have higher loss trends will have increased rates. The information below illustrates the compiled insurance loss statistics for Mazda MX-5 Miata vehicles.

For each coverage type, the claim amount for all vehicles, regardless of make, model or trim level, is set at 100. Numbers that are below 100 mean the vehicle has better than average losses, while numbers that are greater than 100 indicate more frequent claims or tendency to have larger claims.