If saving the most money is your goal, then the best way to get discount Mazda MX-5 Miata insurance in Fort Wayne is to annually compare prices from different companies who sell insurance in Indiana.
First, take a few minutes and learn about how insurance works and the steps you can take to prevent expensive coverage. Many policy risk factors that drive up the price like traffic citations and your credit history can be controlled by paying attention to minor details. Later in this article we will cover more details to get better rates and get bigger discounts.
Second, compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only provide price estimates from one company like Progressive or Farmers Insurance, while agents who are independent can quote rates from multiple companies.
Third, compare the new rate quotes to your existing rates and see if there is a cheaper rate in Fort Wayne. If you find a lower rate quote and switch companies, make sure coverage does not lapse between policies.
The most important part of this process is to use the same deductibles and limits on every price quote and and to get price estimates from as many car insurance companies as possible. This helps ensure the most accurate price comparison and the best price selection.
Statistics show that the vast majority of drivers renewed their policy with the same company for four years or more, and practically 40% of car insurance customers have never compared rates with other companies. Fort Wayne consumers can save $697 each year just by shopping around, but they just don’t understand the actual amount they would save if they replace their high priced policy.
Quoting and comparing the lowest-priced car insurance policy in Fort Wayne is not as hard as you think. Practically every person who buys car insurance will probably be able to find lower rates. Nevertheless, Indiana car owners must know how insurance companies price insurance differently because it can help you find the best coverage.
How to lower your Mazda MX-5 Miata insurance cost in Fort Wayne, Indiana
When comparison shopping, obtaining a wide range of quotes will enable you to find a lower rate than you’re paying now.
The companies shown below are our best choices to provide free rate quotes in Fort Wayne, IN. To locate cheap auto insurance in Indiana, it’s highly recommended you compare several of them to get the best price comparison.
Affordable rates on Mazda MX-5 Miata insurance in Fort Wayne with these discounts
Companies that sell car insurance don’t list every available discount in an easy-to-find place, so we break down both well-publicized and also the more inconspicuous credits that you can use to lower your rates. If you are not receiving all the discounts possible, you are not getting the best rate possible.
- Organization Discounts – Belonging to a civic or occupational organization in Fort Wayne may earn a discount on your bill.
- Pay Now and Pay Less – If you pay your bill all at once rather than spreading payments over time you can avoid the installment charge.
- Theft Deterrent Discount – Anti-theft and alarm system equipped vehicles are stolen with less frequency and that can save you a little bit as well.
- Safety Course Discount – Completing a defensive driver course could possibly earn you a 5% discount and easily recoup the cost of the course.
- College Student Discount – Kids who are enrolled in a college that is more than 100 miles from Fort Wayne without a vehicle on campus can receive lower rates.
- Sign Online – Many auto insurance companies will give you a small discount simply for signing on their website.
- Low Mileage Discounts – Driving less could be rewarded with better auto insurance rates on cars that stay parked.
- Policy Bundle Discount – When you have multiple policies with one company you could earn a discount of at least 10% off all policies.
- Service Members Pay Less – Being deployed with a military unit may qualify for rate reductions.
One thing to note about discounts is that most credits do not apply to the overall cost of the policy. Some only reduce the cost of specific coverages such as liability and collision coverage. Just because you may think adding up those discounts means a free policy, that’s just not realistic.
The diagram below shows the comparison of Mazda MX-5 Miata insurance costs with and without discounts applied to the rates. The price estimates are based on a female driver, a clean driving record, no claims, Indiana state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, multi-car, marriage, homeowner, and claim-free discounts applied.
Larger auto insurance companies and a partial list of their discounts include:
- Farmers Insurance includes discounts for early shopping, alternative fuel, pay in full, youthful driver, mature driver, and bundle discounts.
- Esurance policyholders can earn discounts including homeowner, DriveSense, emergency road assistance, Switch & Save, paid-in-full, online quote, and Pac-12 alumni.
- State Farm offers discounts including multiple policy, good student, passive restraint, accident-free, and defensive driving training.
- GEICO may have discounts that include daytime running lights, five-year accident-free, military active duty, multi-policy, anti-lock brakes, defensive driver, and membership and employees.
- Allstate offers discounts for farm vehicle, auto/life discount, resident student, premier plus, and good payer.
Before buying, ask every prospective company which discounts they offer. A few discounts might not apply in Fort Wayne.
Coverage statistics and figures
The rate information below highlights a range of insurance costs for Mazda MX-5 Miata models. Learning a little about how insurance policy premiums are determined can assist in making informed decisions when shopping around for a new policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MX-5 Miata Sport 2-Dr Convertible||$216||$300||$312||$18||$94||$940||$78|
|MX-5 Miata Touring 2-Dr Convertible||$248||$366||$312||$18||$94||$1,038||$87|
|MX-5 Miata Grand Touring 2-Dr Convertible||$248||$366||$312||$18||$94||$1,038||$87|
|Get Your Own Custom Quote Go|
Prices above based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Price estimates do not factor in specific Fort Wayne garaging location which can affect price quotes considerably.
The chart below illustrates how choosing a deductible and can change Mazda MX-5 Miata premium costs for each different age group. Data assumes a married female driver, comprehensive and collision coverage, and no discounts are factored in.
Annual premiums for males compared to females in Fort Wayne
The information below visualizes the comparison of Mazda MX-5 Miata insurance costs for male and female drivers. The data assumes no tickets, no at-fault accidents, full coverage, $100 deductibles, single marital status, and no additional discounts are factored in.
Rate comparison of full coverage and liability-only
The information below illustrates the comparison of Mazda MX-5 Miata insurance costs with full coverage and liability only. The data assumes a clean driving record, no claims, $250 deductibles, drivers are single, and no discounts are factored in.
Should you be buying full coverage?
There is no set guideline of when to stop paying for full coverage, but there is a general convention. If the yearly cost of comp and collision coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.
For example, let’s pretend your Mazda MX-5 Miata replacement cost is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company will settle for is $5,000 after the policy deductible has been paid. If you are paying in excess of $500 a year for full coverage, then you might want to think about dropping full coverage.
There are a few situations where buying only liability insurance is not a good idea. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should maintain full coverage.
Seven factors that determine insurance prices
Many different elements are part of the calculation when you get your auto insurance bill. Most are fairly basic like an MVR report, although others are less apparent like your continuous coverage or how safe your car is.
Too many claims will drive insurance rates up – Auto insurance companies in Indiana generally give discounts to drivers who file claims infrequently. If you tend to file frequent claims, you can pretty much guarantee either higher rates or even cancellation. Insurance coverage is designed for claims that you cannot pay yourself.
Avoid traffic tickets – Being a careful driver has a lot to do with how much you pay for insurance. Good drivers tend to pay less for car insurance than their less careful counterparts. Getting just one ticket could increase your next policy renewal substantially. Drivers who have dangerous tickets such as DUI or reckless driving may face state-mandated requirements to submit a SR-22 or proof of financial responsibility with their state’s department of motor vehicles in order to legally drive a vehicle.
The chart below shows how traffic citations and at-fault fender-benders can raise Mazda MX-5 Miata yearly insurance costs for different ages of insureds. The premiums are based on a single female driver, comp and collision included, $250 deductibles, and no discounts are applied.
Increase coverage deductibles and save – Insurance for physical damage to your car, also called ‘full coverage’, covers damage that occurs to your Mazda. Some examples of covered claims would be collision with another vehicle, damage from fire, or theft. Comp and collision deductibles define the amount you are willing to pay before a claim is paid by your company. The more money you are required to pay out-of-pocket, the less money you will pay for insurance.
Insurance policy lapses increase rates – Driving without insurance coverage in place is illegal and you may have a hard time finding new coverage because you let your insurance coverage expire. Not only will rates go up, being ticketed for driving with no insurance could result in a fine, jail time, or a revoked license.
Where do you drive? – The more you drive your Mazda every year the higher your rates will be. The majority of insurers charge to insure your cars based upon how the vehicle is primarily used. Autos that sit idle most of the time can get a lower rate than those that get driven frequently. It’s always a good idea to double check that your declarations sheet properly reflects the right rating data, because improper ratings can cost you money. Having the wrong rating on your MX-5 Miata may be costing you.
Don’t skimp on liability – The liability coverage on your policy is the protection when a jury decides you are liable for personal injury or accident damage. Liability provides legal defense up to the limits shown on your policy. Liability is cheap as compared to coverage for physical damage, so insureds should have plenty of protection for their assets.
What type of car do you drive? – The performance of the car, truck or SUV you are trying to find cheaper insurance for makes a substantial difference in the rate you pay. The cheapest rates will normally be found when insuring small economy passenger models, but your final cost has many other factors.
The next chart uses these assumptions: single male driver age 20, full coverage with $100 deductibles, and no discounts or violations. The data compares Mazda MX-5 Miata insurance rates compared to other models that have different performance risks.
Insurance loss data for a Mazda MX-5 Miata – Car insurance companies analyze the history of losses to determine a price that will be profitable for them. Vehicles that are shown to have increased claim numbers or amounts will have higher rates.
The table below illustrates the insurance loss data for Mazda MX-5 Miata vehicles. For each policy coverage, the claim amount for all vehicles combined as an average equals 100. Values that are under 100 indicate a favorable loss history, while numbers shown that are more than 100 show a trend for more claims or an increased likelihood of larger losses.
|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 Source: Insurance Institute for Highway Safety for 2013-2015 Model Years