Cheaper 2002 Mazda Protege5 Insurance Cost

Want the cheapest insurance rates for your Mazda Protege5? Are you drained from scraping the payment together to keep your car insured? You have the same problem as the majority of other consumers.

Consumers have many auto insurance companies to choose from, and although it’s a good thing to have a choice, it can be more difficult to compare company pricing.

You should take the time to compare prices once or twice a year because rates are rarely the same from one policy term to another. Even if you think you had the best premium rates for Protege5 coverage on your last policy there is a good chance you can find better prices now. Forget all the misinformation about insurance because it’s time to teach you the fastest way to find better rates and still maintain coverage.

Discounts to earn cheap car insurance rates

Insurance can cost an arm and a leg, but you may be missing some discounts that you may not even know about. A few discounts will be applied at quote time, but less common discounts must be specifically requested in order for you to get them.

  • Defensive Driving Course – Successfully completing a defensive driver course could earn you a small percentage discount if your company offers it.
  • Good Students Pay Less – A discount for being a good student can save 20 to 25%. The good student discount can last well after school through age 25.
  • No Claim Discounts – Insureds who avoid accidents and claims are rewarded with significantly better rates on car insurance quote in comparison to accident-prone drivers.
  • Seat Belt Discounts – Using a seat belt and requiring all passengers to buckle up before driving could cut 10% or more on the medical payments or PIP coverage costs.
  • Drivers Ed for Students – Cut your cost by having your teen driver take driver’s ed class in school.
  • Driving Data Discount – Insureds that choose to allow their car insurance company to track where and when they drive remotely such as Snapshot from Progressive or Drivewise from Allstate might see lower rates if they have good driving habits.
  • Government Employee Discount – Active or retired federal employment can earn a discount up to 10% for Protege5 coverage but check with your company.
  • Discounts for Multiple Vehicles – Purchasing coverage when you have all your vehicles with the same car insurance company could earn a price break for each car.
  • Professional Organizations – Being in a civic or occupational organization can get you a small discount when shopping for car insurance.
  • Buy New and Save – Putting coverage on a new car can get you a discount because new vehicles have to meet stringent safety requirements.

Don’t be surprised that some of the credits will not apply to the overall cost of the policy. Most only apply to specific coverage prices like medical payments or collision. So even though they make it sound like all the discounts add up to a free policy, you aren’t that lucky. But all discounts should definitely cut the cost of coverage.

To see a list of insurance companies that have a full spectrum of discounts, follow this link.

Five factors that determine insurance costs

An important part of buying insurance is that you know some of the things that are used to determine auto insurance rates. If you have some idea of what influences your rates, this empowers consumers to make smart changes that could result in big savings. Many factors are considered when quoting car insurance. Some of the criteria are obvious like an MVR report, although others are less apparent like your continuous coverage or how financially stable you are.

  • Do females or males drive better? – Over time, data shows that females take fewer risks when driving. That doesn’t necessarily mean that women are BETTER drivers than men. Women and men are in fender benders in similar numbers, but the men have accidents that have higher claims. Not only that, but men also get cited for more serious violations like reckless driving and DUI. Youthful male drivers cause the most accidents so it costs more to insure them.
  • Vehicles with better crash test results means cheaper prices – Safer cars can get you lower premiums. Highly rated vehicles have better occupant injury protection and lower rates of occupant injuries means less money paid by your insurance company and cheaper rates on your policy.
  • Responsible credit scores equal low rates – Having a good credit score will be a significant factor in determining what you pay. So if your credit history can use some improvement, you could be paying less to insure your 2002 Mazda Protege5 by improving your credit score. Consumers who have very high credit ratings tend to be better risks to insure than drivers who have lower credit scores.
  • Is you vocation costing you more? – Occupations like real estate brokers, business owners and financial analysts have the highest average rates because of intense work-related stress and long work hours. Other jobs like farmers, engineers and the unemployed pay the least for Protege5 coverage.
  • When should you file a claims? – If you file claims often, you can look forward to either policy cancellation or increased premiums. Auto insurance companies provide lower rates to policyholders who only file infrequent claims. Your car insurance is designed for the bigger claims that can’t be paid out-of-pocket.

Tailor your car insurance coverage to you

When choosing proper insurance coverage, there really is not a single plan that fits everyone. Everyone’s situation is unique and a cookie cutter policy won’t apply. Here are some questions about coverages that may help highlight whether your personal situation may require specific advice.

  • Does my insurance cover a custom paint job?
  • What are the best liability limits?
  • What are the financial responsibility laws in my state?
  • What is an SR-22 filing?
  • Should I file a claim if it’s only slightly more than my deductible?
  • Should I drop comprehensive coverage on older vehicles?
  • Can I afford to pay high deductible claims out of pocket?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to a licensed agent. To find lower rates from a local agent, fill out this quick form or you can also visit this page to select a carrier

Auto insurance myths debunked

Well-known auto insurance companies like Progressive, GEICO, Allstate and State Farm endlessly run television and radio advertisements. All the ads convey the message that you’ll save big after switching your auto insurance policy to them. How is it plausible that every one can charge lower premium rates? This is how they do it.

Many companies have strict underwriting profiles for the type of insured that is profitable for them. An example of a preferred risk could be between 30 and 50, carries high limits, and insures a new vehicle. Any driver that meets those criteria will get low prices and most likely will save a lot if they switch.

Drivers who do not meet these stringent criteria must pay a higher premium which results in the customer buying from someone else. The ads say “drivers who switch” not “everybody who quotes” will save that much if they switch. This is how insurance companies can make claims that they all have the best prices. Different companies use different criteria so drivers must do a price quote comparison at every renewal. It is impossible to guess the company that will have the best premium rates for your profile.

Specific coverages for a Mazda Protege5

Having a good grasp of a insurance policy can be of help when determining appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be confusing and nobody wants to actually read their policy. Shown next are the usual coverages found on most insurance policies.

Comprehensive protection

This coverage pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims like hitting a bird, hail damage, rock chips in glass, damage from getting keyed and vandalism. The maximum payout a insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Auto liability

Liability coverage can cover damage that occurs to a person or their property. It protects YOU from legal claims by others, and doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 25/50/25 which means a $25,000 limit per person for injuries, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property.

Liability coverage pays for things such as pain and suffering, repair costs for stationary objects, bail bonds and medical expenses. The amount of liability coverage you purchase is your choice, but consider buying as large an amount as possible.

Collision insurance

This covers damage to your Protege5 resulting from colliding with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as colliding with another moving vehicle, scraping a guard rail, damaging your car on a curb and backing into a parked car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. Another option is to raise the deductible in order to get cheaper collision rates.

Medical expense coverage

Medical payments and Personal Injury Protection insurance provide coverage for bills for funeral costs, hospital visits, prosthetic devices, chiropractic care and EMT expenses. The coverages can be used in conjunction with a health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants and also covers if you are hit as a while walking down the street. PIP coverage is not available in all states and gives slightly broader coverage than med pay

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. It can pay for injuries to you and your family and damage to your Mazda Protege5.

Because many people carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked.

A little work can save a LOT of money

We’ve covered many tips how you can reduce 2002 Mazda Protege5 insurance car insurance rates online. The most important thing to understand is the more companies you get premium rates for, the better your chances of lowering your premium rates. You may be surprised to find that the biggest savings come from the least-expected company. Some small companies may cover specific market segments cheaper than their larger competitors like Allstate, GEICO and Progressive.

Lower-priced 2002 Mazda Protege5 insurance is attainable from both online companies and with local insurance agents, and you should compare price quotes from both to have the best chance of lowering rates. Some insurance coverage companies do not provide rate quotes online and many times these regional insurance providers only sell coverage through local independent agencies.

As you go through the steps to switch your coverage, never skimp on coverage in order to save money. There are many occasions where an insured dropped full coverage and found out when filing a claim they didn’t purchase enough coverage. The ultimate goal is to purchase a proper amount of coverage at the best price.

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