Lower Your 1991 Mazda MX-5 Miata Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Sep 2, 2022

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Shoppers have many options when shopping for the best price on Mazda MX-5 Miata insurance. You can either spend your time driving around to get rate comparisons or utilize the internet to find the lowest rates.

There are more efficient ways to buy auto insurance and we’ll show you the absolute fastest way to get price quotes for your Mazda and obtain the lowest possible price from both online companies and local agents.

It’s smart to get comparison quotes at least once a year since insurance rates are usually higher with each renewal. Even if you think you had the best price on MX-5 Miata insurance a couple years back you may be paying too much now. Forget all the misinformation about auto insurance because we’re going to demonstrate the easiest way to find better coverage at a better price.

Lots of discounts mean lots of savings

Insuring your vehicles can cost a lot, but you can get discounts to cut the cost considerably. Certain discounts will be applied at the time of purchase, but some must be manually applied before you get the savings. If you aren’t receiving every discount you deserve, you are throwing money away.

  • Low Mileage Discounts – Fewer annual miles on your Mazda could be rewarded with discounted rates on garaged vehicles.
  • Good Students Pay Less – Performing well in school can earn a discount of 20% or more. The discount lasts until age 25.
  • Passive Restraints – Vehicles with factory air bags or automatic seat belts may earn rate discounts of up to 25% or more.
  • Driver’s Ed – Require your teen driver to successfully complete driver’s ed class in high school.
  • Save over 55 – Older drivers may be able to get a discount up to 10% on MX-5 Miata insurance.
  • Seat Belt Usage – Drivers who require all occupants to use their safety belts can save up to 15% off your PIP or medical payments premium.
  • Resident Student – Kids in college who live away from home and do not have access to a covered vehicle may qualify for this discount.
  • Defensive Driver – Successfully completing a driver safety course could possibly earn you a 5% discount if you qualify.
  • One Accident Forgiven – A handful of insurance companies will allow you to have one accident before hitting you with a surcharge as long as you don’t have any claims for a particular time prior to the accident.
  • Save with a New Car – Insuring a new car can save up to 30% due to better safety requirements for new cars.

Drivers should understand that most of the big mark downs will not be given to all coverage premiums. A few only apply to individual premiums such as liability and collision coverage. Just because it seems like adding up those discounts means a free policy, companies wouldn’t make money that way. Any amount of discount will reduce your overall premium however.

Insurance companies who might offer these money-saving discounts include:

It’s a good idea to ask every prospective company which discounts they offer. Savings might not apply in your area.

Why your Mazda MX-5 Miata insurance rates may be high

Consumers need to have an understanding of the factors that go into determining your insurance coverage rates. Having a good understanding of what impacts premium levels empowers consumers to make smart changes that will entitle you to big savings.

Listed below are some of the factors used by your company to calculate prices.

  • Liability coverage is peace of mind – The liability section of your policy provides coverage when you are found liable for causing damage or personal injury in an accident. Liability provides for a legal defense which can be incredibly expensive. Liability insurance is quite affordable compared to insuring for physical damage coverage, so buy as much as you can afford.
  • Your insurance coverage rates can be influenced by your job – Occupations like real estate brokers, business owners and financial analysts tend to have higher average rates because of high stress levels and long work days. Conversely, jobs such as farmers, engineers and the unemployed receive lower rates on MX-5 Miata insurance.
  • Higher deductibles cost less – Coverage for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your Mazda. Examples of covered claims could be collision with another vehicle, damage caused by hail, and windstorm damage. Your deductibles are how much you are required to spend if you file a covered claim. The more expense you’re willing to pay, the less your company will charge you for insurance on MX-5 Miata insurance.
  • Younger drivers pay higher rates – Older insureds are more responsible, file fewer claims and are safer drivers. Young drivers are statistically proven to be less responsible when behind the wheel and because of this, their insurance coverage rates are much higher.
  • Rate your vehicle for proper use – The higher the mileage driven every year the more you’ll pay to insure your vehicle. Almost all companies charge to insure your cars based on their usage. Cars and trucks not used for work or commuting qualify for better rates as compared to vehicles used primarily for driving to work. Ask your agent if your insurance coverage declarations sheet shows the correct usage for each vehicle. Incorrect usage on your MX-5 Miata may be costing you.
  • One company can mean more discounts – Many insurers give discounts to customers who consolidate policies with them such as combining an auto and homeowners policy. Discounts can be five, ten or even twenty percent. Even with this discount, it’s still a good idea to shop around to ensure the best deal.
  • High numbers of claims are not good – Car insurance companies give better rates to policyholders who do not rely on their insurance for small claims. If you file claims often, you can definitely plan on either higher rates or even cancellation. Your insurance policy is designed for major claims that would cause financial hardship.

Situations that might require an agent

When buying proper insurance coverage for your personal vehicles, there really is not a “perfect” insurance plan. Each situation is unique.

For example, these questions may help highlight whether your personal situation might need an agent’s assistance.

  • Does my personal policy cover me when driving out-of-state?
  • At what point should I drop full coverage?
  • How high should my medical payments coverage be?
  • Is my ex-spouse still covered by my policy?
  • Why am I be forced to buy a membership to get insurance from some companies?
  • Does coverage extend to my business vehicle?
  • Do I need to file an SR-22 for a DUI in my state?
  • Can I make deliveries for my home business?
  • Can my teen driver be rated on a liability-only vehicle?

If you can’t answer these questions but you know they apply to you, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form. It’s fast, free and you can get the answers you need.

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Can you really save $483 a year?

Drivers constantly see and hear ads for cheaper car insurance by State Farm, GEICO and Progressive. All the ads make an identical promise that you’ll save big after switching to their company.

How does each company say the same thing?

Different companies are able to cherry pick for the type of customer that earns them a profit. A good example of a driver they prefer might be a mature driver, has no driving citations, and drives newer vehicles. A propective insured who matches those parameters will get the preferred rates and most likely will pay quite a bit less when switching companies.

Drivers who fall outside the requirements will be quoted higher prices and this can result in business going elsewhere. The ads say “drivers who switch” not “everybody who quotes” save that much money. That’s the way companies can truthfully advertise the way they do.

This emphasizes why you should compare many company’s rates. It’s just too difficult to predict which insurance company will provide you with the cheapest Mazda MX-5 Miata insurance rates.

Specific coverage details

Understanding the coverages of your auto insurance policy can help you determine the best coverages for your vehicles. Policy terminology can be confusing and nobody wants to actually read their policy.

Comprehensive or Other Than Collision

This will pay to fix damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like fire damage, damage from a tornado or hurricane, hail damage, hitting a deer and vandalism. The maximum amount a auto insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Auto liability

Liability coverage protects you from damage or injury you incur to other’s property or people. This insurance protects YOU from claims by other people. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 100/300/100 which means $100,000 bodily injury coverage, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property. Another option is one limit called combined single limit (CSL) that pays claims from the same limit rather than limiting it on a per person basis.

Liability can pay for claims like attorney fees, funeral expenses, medical expenses, pain and suffering and loss of income. How much coverage you buy is up to you, but you should buy as much as you can afford.

UM/UIM Coverage

Your UM/UIM coverage provides protection from other drivers when they are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries and damage to your Mazda MX-5 Miata.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked. Most of the time these limits are similar to your liability insurance amounts.

Collision protection

Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims such as scraping a guard rail, driving through your garage door and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also choose a higher deductible in order to get cheaper collision rates.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses like hospital visits, dental work, funeral costs, pain medications and chiropractic care. They are utilized in addition to your health insurance plan or if you lack health insurance entirely. They cover you and your occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Have money to burn

Drivers switch companies for a variety of reasons including delays in responding to claim requests, denial of a claim, lack of trust in their agent and even policy cancellation. Regardless of your reason for switching companies, switching companies is not as hard as you think.

When shopping online for car insurance, don’t be tempted to reduce coverage to reduce premium. In too many instances, an insured cut comprehensive coverage or liability limits and learned later that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy enough coverage at an affordable rate.

Cheaper 1991 Mazda MX-5 Miata insurance can be bought from both online companies in addition to many insurance agents, so you should compare both to get a complete price analysis. Some companies do not provide the ability to get a quote online and usually these smaller companies provide coverage only through local independent agents.

Other learning opportunities

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