How long has it been since the last time you looked for cheaper Mazda MX-5 Miata insurance in Austin? Are you confused by the wide range of auto insurance companies that you can choose from? Many other drivers are too. There are such a large number of options that it can quickly become a real difficult job to find a cheaper company. If you’ve ever been there, you know that Austin has lots to offer, but paying high auto insurance rates can make it hard for many residents to purchase enough protection.
A recent survey discovered that a large majority of drivers renewed their policy with the same company for over three years, and just under half have never even compared rates from other companies. Many consumers in Texas could save an average of approximately $1,766 each year, but they underestimate how much they could save if they swap their current policy for a cheaper one.
It’s important to take a look at other company’s rates as often as possible because insurance prices are adjusted regularly by insurance companies. Even if you think you had the best deal on Mazda MX-5 Miata insurance in Austin on your last policy you can probably find a lower rate today. Ignore everything you know about auto insurance because we’re going to demonstrate how to use online quotes to properly buy coverages while reducing your premium.
Choosing the best rates in Austin is much easier if you have a good place to start. If you are insured now, you will surely be able to find the best rates using the ideas you’re about to read. But Texas car owners do need to learn how companies price insurance differently and take advantage of how the system works.
Affordable Mazda MX-5 Miata insurance in Austin
Car insurance is not cheap, but you might be missing out on some discounts that you may not even be aware of. Larger premium reductions will be automatically applied when you purchase, but a few must be asked for before they will apply.
- Active Service Discounts – Having a deployed family member could be rewarded with lower rates.
- Homeowners Savings – Just being a homeowner can get you a discount since home ownership shows financial diligence.
- Accident Forgiveness – Not a discount per se, but a handful of insurance companies allow you one accident without raising rates so long as you haven’t had any claims before the accident.
- Discount for New Cars – Putting insurance coverage on a new MX-5 Miata can get you a discount because newer vehicles are generally safer.
- Telematics Discount – Insureds that choose to allow their company to analyze vehicle usage by using a small device installed in their vehicle such as Snapshot from Progressive or Drivewise from Allstate may see discounts if they have good driving habits.
- Driver Training Discounts – Successfully completing a driver safety course could earn you a small percentage discount and easily recoup the cost of the course.
- Seat Belts Save more than Lives – Drivers who require all occupants to wear their seat belts may be able to save a few bucks on the medical payments or PIP coverage costs.
- Pay Upfront and Save – By making one initial payment as opposed to paying monthly you could save up to 5%.
Keep in mind that most discounts do not apply to the entire policy premium. A few only apply to individual premiums such as medical payments or collision. Despite the fact that it seems like you could get a free car insurance policy, you aren’t that lucky.
Popular car insurance companies and some of the discounts are outlined below.
- Progressive may include discounts for online signing, multi-vehicle, homeowner, good student, online quote discount, and multi-policy.
- GEICO discounts include daytime running lights, multi-policy, air bags, multi-vehicle, membership and employees, military active duty, and anti-lock brakes.
- State Farm offers premium reductions for student away at school, multiple policy, multiple autos, driver’s education, and accident-free.
- Esurance offers discounts for emergency road assistance, good driver, anti-theft, multi-car, and paid-in-full.
- The Hartford has savings for good student, defensive driver, vehicle fuel type, driver training, and air bag.
When getting a coverage quote, ask every insurance company what discounts are available to you. Some discounts may not be available in Austin.
First Step: Get free Mazda MX-5 Miata insurance quotes
To find cheap quotes, there are a couple of ways of comparing rate quotes from many available insurance companies in Texas. The fastest way to find the cheapest Mazda MX-5 Miata insurance rates is to get quotes online.
When comparison shopping, comparing a wide range of rates helps increase your odds of locating more affordable rates.
The providers in the list below are our best choices to provide quotes in Texas. If multiple providers are shown, it’s highly recommended you visit several of them to get the cheapest price.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $318 | $598 | $438 | $26 | $130 | $1,510 | $126 |
| MX-5 Miata Touring 2-Dr Convertible | $218 | $368 | $334 | $20 | $100 | $1,040 | $87 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $314 | $670 | $422 | $24 | $126 | $1,556 | $130 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Prices do not factor in vehicle location which can impact coverage prices noticeably.
An analysis of deductible level
One of the hardest decisions when shopping for auto insurance is how high should your deductibles be. The figures shown below summarize the differences in premium rates when you choose different deductibles. The first set of prices uses a $100 physical damage deductible and the second pricing table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $286 | $486 | $324 | $20 | $96 | $1,237 | $103 |
| MX-5 Miata Touring 2-Dr Convertible | $328 | $592 | $324 | $20 | $96 | $1,385 | $115 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $328 | $592 | $324 | $20 | $96 | $1,385 | $115 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $158 | $256 | $324 | $20 | $96 | $854 | $71 |
| MX-5 Miata Touring 2-Dr Convertible | $182 | $312 | $324 | $20 | $96 | $934 | $78 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $182 | $312 | $324 | $20 | $96 | $934 | $78 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Premium amounts do not factor in zip code location which can decrease or increase insurance rates noticeably.
We can estimate from the data above that using a $100 deductible will cost in the ballpark of $35 more each month or $420 each year than quoting the higher $1,000 deductible. Since you would have to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average at least 26 months between claims, you would more than likely save some money if you choose the higher deductible.
Policy deductible comparison
The example below shows how different deductible levels and can influence Mazda MX-5 Miata yearly insurance costs for each age group. The premium estimates are based on a single female driver, full physical damage coverage, and no other discounts are factored in.
Mazda MX-5 Miata liability rates compared to full coverage
The information below examines Mazda MX-5 Miata insurance costs with full physical damage coverage compared to only buying liability only. The price estimates are based on no claims or violations, $250 deductibles, married male driver, and no discounts are taken into consideration.
Should you pay for full coverage?
There is no set rule of when to phase out full coverage, but there is a general convention. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then you might want to think about dropping full coverage.
For example, let’s say your Mazda MX-5 Miata claim settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $6,000 after paying your deductible. If you are paying in excess of $600 annually for physical damage coverage, then you might want to think about dropping full coverage.
There are some conditions where dropping full coverage is not in your best interest. If you still owe money on your vehicle, you have to maintain full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not eliminate full coverage.
Smart Buyers Can Reduce Insurance Rates
Consumers need to have an understanding of some of the factors that help determine the level of your policy premiums. When you understand what determines premiums, this allows you to make educated decisions that can help you get lower insurance prices.
- High physical damage deductibles reduce rates – Insurance for physical damage, also called comprehensive and collision insurance, protects your Mazda from damage. Some examples of covered claims are a windshield shattered by a rock, collision with an animal, and damage caused by flying debris. Your deductibles are how much the insured will be required to pay if the claim is covered. The more of the claim the insured is willing to pay, the bigger discount you will receive.
- Where you live is a factor – Having an address in areas with lower population is a good thing when shopping for auto insurance. Drivers in populated areas have more traffic problems and much longer commute distances. Fewer drivers means a lower chance of having an accident in addition to fewer liability claims.
- Vehicles with better crash test results means lower insurance rates – Vehicles with high crash test scores cost less to insure. Vehicles built for safety result in less severe injuries and fewer serious injuries means your insurance company pays less and cheaper rates on your policy.
- A policy lapse is a bad thing – Not having insurance is against the law and companies may charge more for letting your coverage lapse. In addition to paying higher rates, the inability to provide proof of insurance will get you a steep fine or even jail time.
- Loss statistics for a Mazda MX-5 Miata – Companies include the past claim trends for vehicles when they file their rates in each state. Vehicles that tend to have increased claim numbers or amounts will have higher rates for specific coverages.
The table below demonstrates the loss history for Mazda MX-5 Miata vehicles. For each policy coverage type, the loss probability for all vehicles, as an average, is represented as 100. Numbers that are below 100 suggest a better than average loss history, while percentages above 100 indicate higher probability of having a loss or an increased probability of a larger loss.
Mazda MX-5 Miata Insurance Loss Statistics
Vehicle 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
Getting quotes from local Austin insurance agencies
Some people prefer to sit down with an agent and that is not a bad decision A good thing about comparing rates online is that you can obtain better rates but still work with a licensed agent.
By using this short form, the quote information is sent to participating agents in Austin that give free quotes and help you find cheaper coverage. You won’t even need to leave your computer since price quotes are sent straight to your inbox. Get lower rates without requiring a lot of work. If you want to get a comparison quote from a particular provider, just visit that company’s website and give them your coverage information.
Choosing the best insurer should depend on more than just a cheap quote. The following questions are important to ask.
- Do they feel the quoted coverages are adequate?
- Will a damage claim use OEM or aftermarket replacement parts?
- Do they get paid more for recommending certain coverages?
- How long have they been in business?
- How is replacement cost determined on your vehicle?
- Is the agency covered by Errors and Omissions coverage?
The type of auto insurance agent you choose is important
When looking for an insurance agent, you should know the types of agencies and how they can service your needs differently. Insurance agents in Austin can be classified as either independent or exclusive.
Exclusive Insurance Agencies
These agents can only provide one company’s prices and some examples include Farmers Insurance, Allstate, or State Farm. They generally cannot compare other company’s rates so they have no alternatives for high prices. Exclusive agencies are trained well on their company’s products and that can be a competitive advantage. Some people will only buy from exclusive agents mainly due to the brand legacy rather than low price.
The following are exclusive insurance agencies in Austin who may provide you with rate quotes.
- Greg Pearson – State Farm Insurance Agent
8705 Shoal Creek Blvd #102 – Austin, TX 78757 – (512) 451-0188 – View Map - Allstate Insurance: Richard Harper
1807 W Slaughter Ln Ste 400 – Austin, TX 78748 – (512) 292-7410 – View Map - Stuart Nalewaik – State Farm Insurance Agent
1717 W 6th St #214 – Austin, TX 78703 – (512) 382-6019 – View Map
Independent Insurance Agents
Independent agencies can sell policies from many different companies and that allows them to write policies through many companies and possibly get better coverage at lower prices. If they quote lower rates, your agent can just switch to a different company which requires no work on your part. When searching for an agent, you need to get several quotes from independent agents in order to have the best price comparison. Most can insure with lesser-known insurance companies which can save you money.
The following is a list of independent agencies in Austin that can give you price quotes.
- Stuart Butts Agency Nationwide – Lezam insurance
700 Rio Grande St c – Austin, TX 78701 – (512) 837-5000 – View Map - Stanley Insurance Agency
512 W Stassney Ln #113 – Austin, TX 78745 – (512) 445-5555 – View Map - Eckert Insurance Group
824 W 10th St – Austin, TX 78701 – (512) 472-6969 – View Map
Insurance in Texas serves several purposes
Despite the potentially high cost of Mazda MX-5 Miata insurance, insuring your vehicle serves several important purposes.
- Most states have compulsory liability insurance requirements which means state laws require specific limits of liability insurance in order to drive the car. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your MX-5 Miata, most lenders will force you to have insurance to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the bank will be required to insure your Mazda for a much higher rate and require you to pay much more than you were paying before.
- Insurance safeguards both your assets and your Mazda MX-5 Miata. It will also cover medical expenses incurred in an accident. As part of your policy, liability insurance will also pay for a defense attorney if you cause an accident and are sued. If mother nature or an accident damages your car, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of buying enough insurance are definitely more than the cost, particularly if you ever have a claim. Unknowingly, the average driver is wasting up to $825 a year so it’s recommended you shop around once a year at a minimum to ensure rates are inline.
The best rates come from being thorough
You just read some good ideas how to shop for Mazda MX-5 Miata insurance online. It’s most important to understand that the more companies you get prices for, the more likely it is that you will get a better rate. Consumers could even find that the best premium rates are with a lesser-known regional company.
Some companies may not provide price quotes online and these regional carriers only sell through independent agents. Lower-priced Mazda MX-5 Miata insurance in Austin is possible from both online companies in addition to local insurance agencies, so you need to compare both to have the best rate selection.
When getting Austin auto insurance quotes online, do not buy poor coverage just to save money. There are too many instances where an insured dropped comprehensive coverage or liability limits only to discover later that saving that couple of dollars actually costed them tens of thousands. Your focus should be to purchase plenty of coverage at an affordable rate while not skimping on critical coverages.
Additional car insurance information is located on the following sites:
- Preventing Carjacking and Theft (Insurance Information Institute)
- Who Has Cheap Car Insurance for a Ford Fusion in Austin? (FAQ)
- Who Has Affordable Austin Auto Insurance for Drivers Requiring a SR22? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Teenagers in Austin? (FAQ)
- How Much is Austin Auto Insurance for Safe Drivers? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Retired Military in Austin? (FAQ)
- What Car Insurance is Cheapest for Drivers Under 21 in Austin? (FAQ)
- Rental Reimbursement Coverage (Allstate)
- Red Light Cameras (State Farm)
- Prom Night Tips for Teen Drivers (State Farm)