Cheapest 1990 Mazda MX-5 Miata Insurance Rates in 2023
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UPDATED: May 31, 2023
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Want better insurance rates for your Mazda MX-5 Miata? Expensive insurance can take a big chunk out of your savings account and force you to make sacrifices. Doing a price comparison is a smart way to lower your monthly bill. There are many auto insurance companies to pick from, and though it is a good thing to have a choice, so many choices can make it hard to find a good deal.
Finding affordable coverage is easy if you know what you’re doing. If you are paying for car insurance now, you will most likely be able to cut costs considerably using this strategy. Vehicle owners just need to know the tricks to buying insurance coverage online.
Your Mazda MX-5 Miata insurance rate is a complex equation
It’s important that you understand the factors that help determine the price you pay for insurance coverage. Having a good understanding of what determines base rates enables informed choices that may reward you with much lower annual insurance costs.
The following are some item’s insurance coverage companies consider when setting rates.
- Do you know your deductibles? – Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, protects your Mazda from damage. Some instances where coverage would apply could be collision with another vehicle, damage from fire, and burglary. Your deductibles are the amount of money you are willing to pay before your insurance coverage pays a claim. The higher the amount you are required to pay out-of-pocket, the bigger discount you will receive for MX-5 Miata coverage.
- Do you need those extra coverages? – There are a ton of add-on coverages that you can get tricked into buying if you aren’t careful. Coverages for personal injury protection, accidental death and motor club memberships may cost you every month. These may sound like a good investment at first, but if you don’t need them eliminate them to save money.
- You might want to pay the small claims yourself – If you frequently file small claims, you can pretty much guarantee either a policy of non-renewal or much higher rates. Insurance companies give discounts to insureds who file claims infrequently. Auto insurance is meant to be used in the event of large, substantial claims.
- Being married is a good thing – Having a wife or husband actually saves money on your insurance coverage policy. It means you’re more responsible it has been statistically shown that being married results in fewer claims.
- Don’t let your coverage lapse – Letting your insurance expire is a guaranteed way to increase your insurance coverage rates. Not only will rates go up, but being ticketed for driving with no insurance can result in a revoked license or a big fine.
- With age comes lower rates – Youthful drivers have a tendency to be less responsible behind the wheel, so they pay higher insurance coverage rates. Parents adding a teenage driver to their policy can really hurt. Older drivers tend to be more responsible, tend to cause fewer accidents and tend to be better behind the wheel.
- Choose a safe vehicle and save – Vehicles with good safety scores get lower rates. Safe vehicles reduce injuries and lower injury rates means lower claim amounts and thus lower rates. If your Mazda MX-5 Miata scores better than an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website, it is probably cheaper to insure.
- Where you live – Living in less populated areas can save you money when it comes to insurance coverage. Drivers who live in large cities regularly have traffic congestion and much longer commuting distances. A lower population translates into fewer accidents.
Are Miata’s expensive to insure?
The Mazda Miata has a lower rate of claims than other vehicles, which makes it an inexpensive car to insure. However, if you’re looking at a used one for under $10k, then yes, they are cheap to insure. If you’re buying new, then no, they aren’t. They can be cheaper, but there’s more risk involved in insuring them because they have a higher likelihood of being stolen or damaged.
How much can you save with discounts?
Car insurance companies do not advertise all their discounts in an easy-to-find place, so we researched both well-publicized and the least known discounts you could be receiving. If they aren’t giving you every credit you deserve, you’re just leaving money on the table.
- Anti-lock Brakes – Anti-lock brake equipped vehicles are safer to drive and will save you 10% or more.
- Sign Early and Save – Some insurance companies reward drivers for switching policies before their current policy expires. It can save you around 10%.
- Payment Discounts – By paying your policy upfront instead of making monthly payments, you could save up to 5%.
- No Claims – Drivers who don’t have accidents pay less than compared to frequent claim filers.
- One Accident Forgiven – Some insurance companies will allow you to have one accident before raising your premiums if your claim’s history is clear for a particular time prior to the accident.
- More Vehicles More Savings – Having multiple cars or trucks with the same company can get a discount on all vehicles.
- Safe Drivers – Drivers who avoid accidents can pay as much as 50% less for MX-5 Miata coverage than less cautious drivers.
Drivers should understand that most discount credits are not given to your bottom – line cost. Some only reduce individual premiums such as medical payments or collisions. Even though it may seem like all those discounts means the company will pay you, companies don’t profit that way.
The insurance coverage bait and switch
Consumers constantly see and hear ads for the lowest price auto insurance from the likes of State Farm, Allstate and GEICO. They all seem to say the same thing that you’ll save big if you move your coverage to them.
But how can every company claim to save you money?
All the different companies have a preferred profile for the type of driver that earns them a profit. An example of a driver they prefer could be a mature driver, a clean driving record, and has a short commute. A driver who meets those qualifications will qualify for the lowest rates and most likely will save when they switch companies.
Potential customers who don’t measure up to the requirements will have to pay higher rates and this can result in the driver buying from a lower-cost company. Company advertisements say “drivers who switch” not “people who quote” save that much. This is how insurance companies can confidently claim big savings. Because of the profiling, it is so important to get as many quotes as possible. It’s impossible to know which insurance companies will provide you with the cheapest Mazda MX-5 Miata insurance rates.
How much car insurance do I need?
When buying adequate coverage, there is no “perfect” insurance plan. Coverage needs to be tailored to your specific needs and your policy should reflect that. For instance, these questions might help in determining whether you could use an agent’s help.
- What vehicles carry emergency assistance coverage?
- At what point should I drop full coverage?
- Am I better off with higher deductibles on my 1990 Mazda MX-5 Miata?
- Do I have coverage when making deliveries for my home business?
- Does medical payment’s coverage apply to all occupants?
- When does my teenage driver need to be added to my policy?
- How do I file an SR-22 for a DUI in my state?
- Should I rate my 1990 Mazda MX-5 Miata for pleasure use or commute?
- Should I file a claim if it’s only slightly more than my deductible?
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Auto insurance coverage options for a Mazda MX-5 Miata
Knowing the specifics of your auto insurance policy can be of help when determining the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be confusing and coverage can be changed by endorsement. Below you’ll find typical coverages found on the average auto insurance policy.
Medical payments coverage and PIP
Med pay and PIP coverage reimburse you for short-term medical expenses for things like pain medications, funeral costs and doctor visits. The coverage can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Medical payments and PIP cover you and your occupants in addition, to if you are hit as a while walking down the street. Personal injury protection coverage is not available in all states but can be used in place of medical payment’s coverage
Uninsured/Underinsured Motorist coverage
This protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and also for any damage incurred to your Mazda MX-5 Miata.
Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.
Liability coverage can cover damages or injuries you inflict on other people or property that is your fault. This insurance protects YOU from claims by other people, and doesn’t cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.
Liability insurance covers things such as funeral expenses, bail bonds, pain and suffering, repair costs for stationary objects and attorney fees. How much coverage you buy is a personal decision, but you should buy as high a limit as you can afford.
Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collisions. You first have to pay a deductible, then your comprehensive coverage will pay.
Comprehensive coverage protects against claims like falling objects, fire damage, damage from flooding, rock chips in glass and a broken windshield. The most a auto insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.
Collision insurance will pay to fix damage to your MX-5 Miata from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage protects against things such as colliding with another moving vehicle, colliding with a tree, sustaining damage from a pothole, sideswiping another vehicle and damaging your car on a curb. This coverage can be expensive, so consider dropping it from older vehicles. Drivers also have the option to choose a higher deductible to bring the cost down.
Be a money saver!
When buying insurance coverage, it’s a bad idea to skimp on coverage in order to save money. In many cases, someone sacrificed full coverage only to regret that the savings was not a smart move. Your strategy should be to buy the best coverage you can find for the lowest price while not skimping on critical coverage.
Cheaper 1990 Mazda MX-5 Miata insurance is possible online and also from your neighborhood agents, so compare prices from both to have the best chance of lowering rates. Some companies may not provide the ability to get a quote online and most of the time, these small, regional companies sell through independent agents.
If you don’t know the answers to these questions, you may need to chat with a licensed agent. If you don’t have a local agent, fill out this quick form, or you can also visit this page to select a carrier It only takes a few minutes and can provide invaluable advice.
Frequently Asked Questions
How can I find the cheapest insurance for a 1990 Mazda MX-5 Miata?
To find the cheapest insurance for a 1990 Mazda MX-5 Miata, there are a few steps you can take:
- Shop around: Obtain quotes from multiple insurance providers and compare their rates. Different insurers may offer different prices based on various factors.
- Opt for liability coverage: If you have an older vehicle, you may consider choosing liability coverage only, as it typically costs less than comprehensive or collision coverage.
- Maintain a clean driving record: Insurance companies often offer lower rates to drivers with a good driving history. Avoiding accidents and traffic violations can help you secure cheaper insurance premiums.
- Inquire about discounts: Ask insurance providers about any available discounts. For example, some insurers offer discounts for bundling multiple policies or for having certain safety features installed in your car.
What factors influence the cost of insurance for a 1990 Mazda MX-5 Miata?
Several factors can affect the cost of insurance for a 1990 Mazda MX-5 Miata. These may include:
- Age and driving experience: Younger and less experienced drivers often face higher insurance premiums.
- Location: Insurance rates can vary based on where you live. Areas with higher rates of accidents or theft may result in higher premiums.
- Vehicle usage: How often and for what purposes you drive your MX-5 Miata can impact insurance costs. Higher mileage or using the car for business purposes may increase premiums.
- Deductible and coverage limits: Choosing a higher deductible or lower coverage limits can lead to lower premiums, but you’ll have more out-of-pocket expenses in case of a claim.
- Insurance history: If you have a history of previous claims or insurance lapses, it may affect the cost of your insurance.
- Credit score: In some regions, insurers consider credit scores when determining premiums.
Are there any specific insurance considerations for a 1990 Mazda MX-5 Miata?
Yes, there are a few considerations specific to insuring a 1990 Mazda MX-5 Miata:
- Replacement value: Since the 1990 MX-5 Miata is an older vehicle, its value may be lower than that of a newer car. You may want to consider the cost of repairs and the car’s overall value when deciding on coverage types and limits.
- Modifications: If you’ve made modifications to your Miata, such as adding aftermarket parts or performance enhancements, it’s important to inform your insurance provider. Some modifications may increase your premiums, while others could potentially void your coverage if not disclosed.
- Classic car insurance: Depending on the condition and value of your 1990 MX-5 Miata, you might explore specialty classic car insurance options, which could provide coverage tailored to the needs of vintage or collector vehicles.
Can I insure a 1990 Mazda MX-5 Miata under a classic car insurance policy?
Yes, it’s possible to insure a 1990 Mazda MX-5 Miata under a classic car insurance policy if it meets the criteria set by the insurance provider. Classic car insurance typically applies to vehicles that are at least 20 years old, have historical or collectible value, and are used for limited purposes such as exhibitions, parades, or occasional pleasure driving. Requirements may vary between insurers, so it’s best to check with different providers to see if your MX-5 Miata qualifies for classic car coverage.
Are there any other ways to save money on insurance for a 1990 Mazda MX-5 Miata?
Yes, here are a few additional ways to potentially save money on insurance for your 1990 Mazda MX-5 Miata:
- Pay annually: Some insurance companies offer discounts if you pay your premium in full annually instead of monthly.
- Take a defensive driving course: Completing a defensive driving course can demonstrate your commitment to safe driving and may lead to insurance discounts.
- Improve car security: Installing anti-theft devices or other security features in your MX-5 Miata could make it less vulnerable to theft, potentially resulting in lower premiums.
- Evaluate your coverage regularly: As your car ages, its value may decrease, and certain coverage options may become less necessary. Review your policy periodically to ensure you have appropriate coverage for your needs.
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