I really doubt anyone rejoices having to buy auto insurance, in particular when their premiums are through the roof.
Unthinkable but true, a large majority of consumers kept their policy with the same company for well over three years, and practically 40% of auto insurance customers have never compared rates with other companies. Consumers in Washington could save themselves roughly 40% a year just by comparing rates, but they underestimate the actual amount they would save if they bought a different policy.
Due to the increasing number of options when it comes to auto insurance, it’s nearly impossible to pick the cheapest company.
Locating the most cost-effective car insurance policy in Seattle is much easier if you have a good place to start. Basically, everyone who buys car insurance most likely will get better rates. But Washington vehicle owners must comprehend how big insurance companies compete online because it can help you find the best coverage.
Best Mazda MX-5 Miata insurance rate quotes in Washington
The following companies are ready to provide price comparisons in Washington. If multiple companies are listed, it’s highly recommended you compare several of them to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MX-5 Miata Sport 2-Dr Convertible||$246||$464||$338||$20||$102||$1,170||$98|
|MX-5 Miata Touring 2-Dr Convertible||$168||$284||$258||$16||$78||$804||$67|
|MX-5 Miata Grand Touring 2-Dr Convertible||$224||$442||$304||$18||$90||$1,078||$90|
|Get Your Own Custom Quote Go|
Above prices assume single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Washington minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Estimates do not factor in specific Seattle garaging location which can revise auto insurance rates greatly.
Can higher deductibles save money?
The example below demonstrates how deductibles and can change Mazda MX-5 Miata yearly insurance costs for different age groups of insureds. The data assumes a married male driver, full physical damage coverage, and no additional discounts are factored in.
Mazda MX-5 Miata full coverage rates compared to liability only
The information below illustrates the comparison of Mazda MX-5 Miata insurance prices with full coverage compared to only the Washington minimum liability coverage. The rate quotes are based on no accidents, no driving violations, $500 deductibles, single male driver, and no other discounts are factored in.
Guidelines for dropping full coverage
There is no definitive rule to stop paying for physical damage coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.
For example, let’s assume your Mazda MX-5 Miata replacement cost is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $8,000 after paying your policy deductible. If you are paying in excess of $800 annually for comprehensive and collision coverage, then you might consider buying liability only.
There are some cases where dropping physical damage coverage is not financially feasible. If you haven’t satisfied your loan, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not buy liability only.
Careless drivers pay higher rates
The illustration below highlights how traffic violations and accidents increase Mazda MX-5 Miata insurance prices for different ages of insureds. Data assumes a married male driver, full physical damage coverage, $500 deductibles, and no discounts are factored in.
What Determines Mazda MX-5 Miata Insurance Rates?
Multiple criteria are part of the calculation when premium rates are determined. Some of the criteria are obvious like an MVR report, although some other factors are less apparent like where you live and annual miles driven.
The factors shown below are a few of the “ingredients” that factor into your rates.
Choose high NHTSA crash test ratings and save – Cars with high safety ratings can get you lower premiums. These vehicles have better occupant injury protection and lower injury rates means your insurance company pays less and cheaper rates on your policy. If your Mazda MX-5 Miata has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may be receiving a better rate.
High comp and collision deductibles equal low rates – Physical damage insurance, also called ‘full coverage’, covers your vehicle from damage. Examples of some claims that would be covered could be colliding with a building, vandalism, and damage caused by flying debris. Comp and collision deductibles are how much you are required to spend before your insurance pays a claim. The more expense the insured has to pay upfront, the less your insurance will be.
Save by driving less – The higher the mileage driven every year the more you’ll pay to insure your vehicle. Many insurance companies price each vehicle’s coverage based upon how much you drive. Vehicles left parked in the garage cost less to insure than those that get driven frequently. Having an incorrect usage rating on your MX-5 Miata is just wasting money. Verify your policy is showing the proper vehicle usage, because improper ratings can cost you money.
Always have insurance – Driving without insurance coverage in place can get your license suspended and as a result your rates will increase for letting your coverage have a gap. Not only will you pay more, getting caught without coverage will get you a license revocation or jail time.
Why do you need liability? – Your insurance policy’s liability coverage is the protection if a court rules you are at fault for an accident. Liability insurance provides legal defense starting from day one. It is affordable coverage compared to insuring for physical damage coverage, so drivers should make sure they buy enough to cover all assets.
Your job can affect rates – Jobs like lawyers, architects and medical professionals tend to pay higher premium rates due to intense work-related stress and incredibly demanding work hours. On the other hand, jobs such as farmers, historians and homemakers get better rates.
Location can modify price – Being located in less populated areas of the country can save you money when insuring your vehicles. Urban drivers have to deal with more road rage incidents and a longer drive to work. Lower population translates into fewer accidents and a lower car theft rate.
Accidents can increase premiums – Being a careful driver impacts your car insurance rates tremendously. Having a single speeding ticket or other violation can increase rates twenty percent or more. Careful drivers have lower premiums compared to drivers with tickets. Drivers with careless citations like DUI or reckless driving might be required by their state to maintain a SR-22 with their state’s department of motor vehicles in order to keep their license.
Mazda MX-5 Miata claim data – Auto insurance companies take into consideration historical loss data for every vehicle to help set a rate to offset losses. Vehicles that statistically have increased claim numbers or amounts will cost more for specific coverages. The data below shows the compiled insurance loss statistics for Mazda MX-5 Miata vehicles.
For each coverage category, the statistical loss for all vehicles, regardless of manufacturer or model, is equal to 100. Percentage values below 100 represent a good loss history, while percentage values above 100 indicate more frequent losses or an increased probability of a larger loss.
Mazda MX-5 Miata Insurance Loss Statistics
|Specific Mazda Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Mazda MX-5 Miata Convertible||76||61||74||72|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Don’t neglect these rate reducing discounts
Insurance can cost an arm and a leg, but you might find some hidden discounts to help bring down the price. Some discounts will apply at the time of quoting, but some must be asked for before you will receive the discount.
- Responsible Driver Discount – Drivers without accidents can save up to 40% or more on their Seattle car insurance quote than drivers with accident claims.
- Theft Deterrent System – Vehicles that have factory alarm systems and tracking devices have a lower chance of being stolen and will save you 10% or more on MX-5 Miata insurance in Seattle.
- Waiver for an Accident – Not really a discount, but companies like Libery Mutual, GEICO and Allstate will turn a blind eye to one accident before your rates go up if your claims history is clear prior to being involved in the accident.
- Onboard Data Collection – Drivers that enable driving data collection to study driving habits by installing a telematics device such as Progressive’s Snapshot and State Farm’s In-Drive could save a few bucks if they are good drivers.
- Renewal Discounts – A few companies give discounts for renewing your policy before your current coverage expires. You can save around 10% with this discount.
- Driver’s Ed – Cut your cost by having your teen driver complete a driver education course in school or through a local driver safety program.
- Defensive Driving Course – Taking part in a course teaching defensive driving skills could earn you a small percentage discount and make you a better driver.
A quick disclaimer, most discount credits are not given to all coverage premiums. The majority will only reduce the cost of specific coverages such as comprehensive or collision. Even though the math looks like all the discounts add up to a free policy, nobody gets a free ride. But any discount will positively reduce your policy premium.
To locate insurance companies who offer cheap Mazda MX-5 Miata insurance quotes in Seattle in Washington, click here to view.
Independent versus exclusive insurance agencies
A lot of people still prefer to sit down and talk to an agent and that can be a great decision The biggest benefit of comparing rate quotes online is the fact that you can find the best rates and still buy from a local agent.
To make it easy to find an agent, after completing this short form, the coverage information is emailed to agents in your area that can give you free Seattle car insurance quotes and help you find cheaper coverage. You don’t have to do any legwork because quoted prices will be sent immediately to your email address. You can find the lowest rates and an insurance agent to talk to. In the event you want to get a comparison quote from a specific auto insurance provider, just visit that company’s website and fill out their quote form.
Choosing the best provider needs to be determined by more than just the premium amount. A good agent in Seattle will have answers to these questions.
- How long has the business existed?
- Does the agency have a current Errors and Omissions policy?
- Which companies can they place coverage with?
- Do they have cheaper tiers of coverage?
- Is the quote a firm price?
- Can they help ensure a fair claim settlement?
- Where would your vehicle be repaired?
- Do you need full coverage on every vehicle?
Below are agents in Seattle that can give you rate quotes for Mazda MX-5 Miata insurance in Seattle.
After getting reasonable responses for all questions you ask in addition to an acceptable price estimate, most likely you have located a company that will properly service your auto insurance policy. It’s important to know that it’s your coverage and you can terminate coverage at any time so never feel that you’re stuck with a specific agent for the full policy term.
Compare but don’t skimp
When buying insurance coverage, do not buy less coverage just to save a little money. Too many times, someone dropped physical damage coverage only to regret that the small savings ended up costing them much more. Your aim should be to purchase plenty of coverage for the lowest price, not the least amount of coverage.
We’ve covered some good ideas how to get a better price on Mazda MX-5 Miata insurance in Seattle. The key concept to understand is the more quotes you get, the higher the chance of saving money. You may even discover the best auto insurance rates are with a small mutual company. Some small companies may have significantly lower premium rates on certain market segments than the large multi-state companies such as Allstate, GEICO and Progressive.
A few companies don’t offer internet price quotes and most of the time these smaller companies provide coverage only through local independent agents. Cheaper car insurance in Seattle is attainable both online in addition to local insurance agencies, and you should compare rates from both in order to have the best chance of saving money.
Additional car insurance information can be read on the following sites:
- Auto Insurance Learning Center (State Farm)
- What Car Insurance is Cheapest for Electric Cars in Seattle? (FAQ)
- How Much is Seattle Auto Insurance for Drivers Over Age 70? (FAQ)
- How Much are Seattle Auto Insurance Quotes for College Students? (FAQ)
- Rental Car Insurance Tips (Insurance Information Institute)
- What is Covered by GAP Insurance? (Allstate)
- Parking Tips to Reduce Door Dings (State Farm)