How Much Does 2002 Mazda MX-5 Miata Insurance Cost?

Are you irritated from not being able to afford to pay high auto insurance rates every month? Your situation is no different than many other drivers. Multiple insurance companies compete to insure your vehicles, so it can be very hard to choose a company and get the best coverage at the best rates possible.

Smart consumers take time to compare prices every six months due to the fact that insurance rates go up and down regularly. Just because you had the lowest premium rates on MX-5 Miata coverage a few years ago other companies may now be cheaper. Forget all the misinformation about auto insurance because I’m going to let you in on the secrets to one of the quickest ways to save money, get proper deductibles and limits, all at the lowest rate.

If you have insurance now or are just looking to switch companies, you can use this information to find the best rates and still get good coverage. Finding the best rates is quite easy. Consumers only need to know how to compare rates over the internet.

Lower rate quotes with these car insurance discounts

Some insurance providers do not list the complete list of policy discounts in an easy-to-find place, so here is a list some of the more common as well as some of the hidden car insurance savings.

  • No Charge for an Accident – Not really a discount, but some insurance companies will let one accident slide without raising rates so long as you haven’t had any claims for a set time period.
  • Early Signing – A few larger companies give discounts for switching to them prior to your current policy expiring. Ten percent is about the average savings.
  • Good Student – This discount may save you up to 25%. Earning this discount can benefit you up to age 25.
  • Anti-theft Discount – Cars with anti-theft systems are less likely to be stolen and will save you 10% or more.
  • Active Military Service – Having a deployed family member could qualify you for better prices.
  • Multi-car Discount – Buying insurance for several vehicles with the same company can get a discount for every vehicle.
  • ABS and Traction Control Discounts – Cars equipped with ABS or steering control can reduce accidents and earn discounts up to 10%.
  • Safe Driver Discounts – Drivers who avoid accidents can save up to 40% or more on their auto insurance quote on MX-5 Miata coverage compared to rates paid by drivers with frequent claims.
  • Discounts for Seat Belt Usage – Buckling up and requiring all passengers to fasten their seat belts can save 10% or more off PIP or medical payments premium.
  • Safety Course Discount – Completing a course that instructs on driving safety could save 5% or more if your company offers it.

You should keep in mind that some of the credits will not apply to your bottom line cost. A few only apply to specific coverage prices like medical payments or collision. So when the math indicates you would end up receiving a 100% discount, you won’t be that lucky.

A few of the larger companies and some of their more popular discounts are shown below.

  • State Farm offers premium reductions for Drive Safe & Save, multiple policy, defensive driving training, student away at school, safe vehicle, and passive restraint.
  • American Family may include discounts for TimeAway discount, bundled insurance, air bags, good driver, multi-vehicle, good student, and Steer into Savings.
  • GEICO discounts include federal employee, five-year accident-free, multi-policy, defensive driver, driver training, and multi-vehicle.
  • 21st Century may offer discounts for teen driver, theft prevention, air bags, early bird, homeowners, good student, and defensive driver.
  • Progressive includes discounts for multi-policy, multi-vehicle, online quote discount, continuous coverage, online signing, homeowner, and good student.

When quoting, ask all the companies how you can save money. Some of the discounts discussed earlier may not apply everywhere.

How much is auto insurance?

Cutting your auto insurance rates can be quick and easy. You just need to take a couple of minutes to compare free auto insurance quotes provided by online insurance companies. Shoppers can get rates in a couple of different ways.

The fastest and easiest way to find the lowest comparison rates is a comparison rater form like this one (opens in new window). This easy form prevents you from having to do separate quotes for each company you want a rate for. Filling out one form gets rate comparisons direct from many companies.

Another way to analyze rates is to take the time to go to the website for every company you want to comare to complete a price quote. For instance, let’s assume you want to view quotes from Auto-Owners, State Farm and Progressive. You would have to spend time going to each site individually to input your insurance information, and that’s why the first method is more popular. For a list of links to companies insuring cars in your area, click here.

The least efficient and most time consuming way to compare price quotes is driving around to insurance agencies in your area. The ability to quote online has made agencies unnecessary unless you prefer the professional advice that only an agent can give. Some companies do allow you to compare online quotes but still have the advice of a local agent.

It’s up to you how you get prices quotes, just try to keep nearly identical quote information on every price quote you get. If your comparisons have different values for each quote then you won’t be able to determine the best price for your Mazda MX-5 Miata.

Car insurance can get complicated

When it comes to buying coverage, there is no cookie cutter policy. Every insured’s situation is different and your policy should reflect that. Here are some questions about coverages that can help discover if your situation might need an agent’s assistance.

  • Does insurance cover tools stolen from my truck?
  • Does car insurance cover theft of personal property?
  • When does my teenage driver need to be added to my policy?
  • How much liability coverage do I need in my state?
  • Am I covered when using my vehicle for business?
  • Do I have coverage for damage caused while driving under the influence?

If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an agent. If you don’t have a local agent, take a second and complete this form or click here for a list of car insurance companies in your area. It is quick, free and can help protect your family.

Auto insurance 101

Learning about specific coverages of your policy can be of help when determining the right coverages and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording. Listed below are the normal coverages offered by insurance companies.

Uninsured/Underinsured Motorist coverage

This protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants as well as damage to your Mazda MX-5 Miata.

Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family. Usually these limits are set the same as your liablity limits.

Collision coverage

Collision insurance covers damage to your MX-5 Miata resulting from a collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for claims like crashing into a building, sustaining damage from a pot hole, sideswiping another vehicle and driving through your garage door. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to get cheaper collision coverage.

Comprehensive coverage

Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things such as hail damage, falling objects, a broken windshield, damage from getting keyed and rock chips in glass. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.

Medical payments coverage and PIP

Med pay and PIP coverage kick in for bills like ambulance fees, pain medications and prosthetic devices. They can be used to fill the gap from your health insurance plan or if you do not have health coverage. It covers both the driver and occupants as well as being hit by a car walking across the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Auto liability

This coverage protects you from damages or injuries you inflict on a person or their property by causing an accident. It protects YOU against claims from other people, and does not provide coverage for 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 commonly see values of 25/50/25 that translate to a $25,000 limit per person for injuries, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property. Occasionally you may see one limit called combined single limit (CSL) that pays claims from the same limit with no separate limits for injury or property damage.

Liability coverage pays for claims such as pain and suffering, repair costs for stationary objects and funeral expenses. How much coverage you buy is your choice, but it’s cheap coverage so purchase higher limits if possible.

A penny saved is a penny earned

We just covered a lot of techniques to compare 2002 Mazda MX-5 Miata insurance prices online. The key thing to remember is the more rate quotes you have, the higher your chance of finding cheap auto insurance. Drivers may discover the most savings is with a small mutual company. Regional companies may only write in your state and offer lower rates than the large multi-state companies such as Allstate, GEICO and Progressive.

Some car insurance companies do not provide internet price quotes and usually these smaller companies only sell through local independent agencies. Budget-conscious 2002 Mazda MX-5 Miata insurance can be found online in addition to many insurance agents, so you should be comparing quotes from both so you have a total pricing picture.

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