Cheapest 2002 Mazda MX-5 Miata Insurance Rates in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 2, 2023

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Want better auto insurance rates for your Mazda MX-5 Miata? Searching for low-cost auto insurance online can be impossible for consumers new to comparing rates online. With dozens of insurers to choose from, how can drivers possibly compare them all to find the cheapest rates?

You should take the time to compare prices before your policy renews since rates are variable and change quite frequently. Even if you got the best rates for MX-5 Miata coverage a couple years back you may be paying too much now. So block out anything you think you know about auto insurance because it’s time to teach you the best way to remove unneeded coverages and save money.

The quickest method we recommend to compare car insurance company rates is to understand most insurance companies actually pay money for the chance to provide you with a free rate quote. To get started, all you need to do is provide a little information such as if a SR-22 is needed, daily mileage, whether the vehicles are used for commuting, and whether you are married. That information is instantly submitted to insurance companies and they provide comparison quotes within a short period of time.

Tailor your coverage to you

When choosing coverage, there really is no best way to insure your cars. Each situation is unique.

Here are some questions about coverages that could help you determine if your insurance needs will benefit from professional help.

  • Does my medical payments coverage pay my health insurance deductible?
  • When would I need rental car insurance?
  • At what point should I drop full coverage?
  • Is business property covered if stolen from my car?
  • Should I rate my 2002 Mazda MX-5 Miata as pleasure use or commute?
  • How much liability insurance is required?
  • Is business equipment covered while in my vehicle?
  • What is the difference between comprehensive and collision coverage?
  • Are rock chip repairs covered?

If it’s difficult to answer those questions but you know they apply to you, you might consider talking to an agent. To find lower rates from a local agent, take a second and complete this form.

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Coverages available on your auto insurance policy

Knowing the specifics of a auto insurance policy helps when choosing appropriate coverage for your vehicles. Auto insurance terms can be difficult to understand and coverage can change by endorsement.

Auto liability – This coverage will cover damages or injuries you inflict on other’s property or people in an accident. This insurance protects YOU against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 100/300/100 that translate to a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged property. Another option is one number which is a combined single limit which limits claims to one amount and claims can be made without the split limit restrictions.

Liability coverage protects against things such as court costs, repair costs for stationary objects, medical expenses, attorney fees and repair bills for other people’s vehicles. How much coverage you buy is a decision to put some thought into, but consider buying as large an amount as possible.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered claims include injuries to you and your family and also 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. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently the UM/UIM limits do not exceed the liability coverage limits.

Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance kick in for immediate expenses for things like nursing services, EMT expenses and surgery. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants in addition to any family member struck as a pedestrian. PIP coverage is not universally available and may carry a deductible

Collision coverage – This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like crashing into a ditch, crashing into a building, hitting a parking meter and colliding with another moving vehicle. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. Another option is to raise the deductible to save money on collision insurance.

Comprehensive auto coverage – Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like rock chips in glass, hitting a bird, a tree branch falling on your vehicle and damage from a tornado or hurricane. The most you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Use our FREE quote tool to compare rates now!

Frequently Asked Questions

How can I find the cheapest auto insurance rates for my 2002 Mazda MX-5 Miata?

To find the cheapest auto insurance rates for your 2002 Mazda MX-5 Miata, it is recommended to compare prices from different insurance companies. You can do this by providing some information, such as your ZIP code, daily mileage, and whether you need a SR-22 or use the vehicle for commuting. Insurance companies will then provide you with comparison quotes within a short period of time.

What coverages are available on an auto insurance policy?

Auto insurance policies offer various coverages, including:

  • Auto liability: This coverage protects you against claims for damages or injuries you cause to other people or their property in an accident. It consists of three limits: bodily injury per person, bodily injury per accident, and property damage.
  • UM/UIM (Uninsured/Underinsured Motorist) coverage: This coverage protects you and your vehicle’s occupants when the at-fault driver has no liability insurance or insufficient coverage.
  • Medical payments and PIP (Personal Injury Protection) coverage: These cover immediate medical expenses for you, your passengers, and family members, regardless of who is at fault. PIP coverage may have a deductible and is not universally available.
  • Collision coverage: This pays for damage to your vehicle resulting from collisions with stationary objects or other vehicles. You will need to pay a deductible before the insurance company covers the remaining damage.
  • Comprehensive auto coverage: Comprehensive insurance pays for damage to your vehicle that is not caused by collisions, such as damage from weather events, theft, or vandalism. Like collision coverage, you will need to pay a deductible.

How much liability coverage should I buy?

The amount of liability coverage you should buy depends on your individual needs. It is recommended to consider buying as much coverage as possible to protect against potential claims. Common liability coverage limits are expressed as three numbers, such as 100/300/100, which means $100,000 per injured person, $300,000 total bodily injury coverage per accident, and $100,000 coverage for damaged property.

Should I carry uninsured/underinsured motorist coverage?

Carrying uninsured/underinsured motorist coverage is a good idea, as it protects you and your vehicle’s occupants in case the at-fault driver has no liability insurance or insufficient coverage. Many people carry only the minimum required liability limits, which can be quickly exhausted in a serious accident.

What is collision coverage, and should I have it?

Collision coverage pays for the damage to your vehicle resulting from collisions with stationary objects or other vehicles. Whether you should have collision coverage depends on your individual circumstances. If your vehicle has a low value, you may consider removing collision coverage to save money. Additionally, raising the deductible can help reduce the cost of collision insurance.

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