Cheapest 2016 Mazda MX-5 Miata Insurance Rates in 2024
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UPDATED: Jun 6, 2023
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Are you overwhelmed by the crazy number of insurance companies? You have a lot of company. There are so many companies to choose from that it can quickly become a real hassle to find affordable 2016 Mazda MX-5 Miata insurance.
If you currently have car insurance, you stand a good chance to be able to reduce your rates substantially using these techniques. Buying the lowest cost protection is not that difficult. But vehicle owners do need to learn how the larger insurance companies sell insurance online.
Discounts for Miata Insurance Costs
Insuring your vehicles can cost a lot, but companies offer discounts to help bring down the price. A few discounts will automatically apply at the time you complete a quote, but a few must be specifically requested prior to receiving the credit.
- Homeowners Pay Less – Being a homeowner can save you money because maintaining a house requires personal responsibility.
- Clubs and Organizations – Being a member of certain professional organizations may earn a discount on your policy on MX-5 Miata insurance.
- Anti-theft System – Anti-theft and alarm systems are stolen less frequently and qualify for as much as a 10% discount.
- Discount for Good Grades – Getting good grades can get you a discount of up to 25%. The discount lasts until age 25.
- Accident Forgiveness – A handful of insurance companies will forgive one accident before hitting you with a surcharge if you are claim-free for a particular time prior to the accident.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to take driver’s ed class if it’s offered in school.
- New Car Discount – Putting insurance coverage on a new car is cheaper because new vehicles have to meet stringent safety requirements.
A little note about advertised discounts, most of the big markdowns will not be given to the overall cost of the policy. Most only reduce the price of certain insurance coverages like medical payments or collisions. So when the math indicates all those discounts mean the company will pay you, it doesn’t quite work that way. Any qualifying discounts will help reduce your overall premium, however.
A partial list of companies that may have these benefits may include but are not limited to:
- American Family
- Farmers Insurance
- State Farm
Check with all companies you are considering how you can save money. Savings might not apply everywhere.
Agents for MX-5 Insurance
When it comes to buying proper insurance coverage, there really is not a perfect coverage plan. Coverage needs to be tailored to your specific needs.
For instance, these questions may help you determine if your situation will benefit from professional help.
- Is my trailer covered?
- Can I rent a car in Mexico?
- Why am I required to get a high-risk car insurance policy?
- Am I insured when driving a different vehicle?
- What vehicles should carry emergency assistance coverage?
- I have a DUI can I still get coverage?
- Do I need added coverage for expensive stereo equipment?
- How high should my uninsured/underinsured coverage be in my state?
- Is my nanny covered when driving my vehicle?
- What is the ISO rating for a 2016 Mazda MX-5 Miata?
If you can’t answer these questions but you think they might apply to your situation, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, complete this form.
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2016 Mazda MX-5 Miata Insurance Coverage
Knowing the specifics of an auto insurance policy can help you determine which coverages you need at the best deductibles and correct limits. Policy terminology can be ambiguous and reading a policy is terribly boring.
Uninsured or underinsured coverage
This coverage protects you and your vehicle’s occupants from other drivers when they have either no liability insurance or not enough. It can pay for injuries to you and your family and also any damage incurred to your 2016 Mazda MX-5 Miata.
Since many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally the UM/UIM limits do not exceed the liability coverage limits.
Liability insurance provides protection from damage or injury you incur to other people or property. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident, and a property damage limit. Your policy might show limits of 50/100/50 which means a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and property damage coverage of $50,000. Occasionally you may see a combined single limit or CSL that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability insurance covers claims like pain and suffering, loss of income, bail bonds, and attorney fees. How much liability should you purchase? That is a personal decision, but you should buy as large an amount as possible.
Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.
Comprehensive insurance covers claims such as theft, hitting a deer, hitting a bird, rock chips in glass, and damage from getting keyed. The highest amount an auto insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
Coverage for collisions
This pays for damage to your MX-5 Miata resulting from a collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims such as crashing into a ditch, sustaining damage from a pothole, hitting a mailbox, and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from lower-value vehicles. Another option is to increase the deductible to bring the cost down.
Medical expense coverage
Med pay and PIP coverage reimburse you for expenses for things like hospital visits, funeral costs, and X-ray expenses. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants and also cover if you are hit while walking down the street. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay
Saving on Mazda Miata Insurance Costs
Consumers switch companies for any number of reasons including policy non-renewal, delays in paying claims, policy cancellation, and even unfair underwriting practices. It doesn’t matter why you want to switch choosing a new insurance company is easier than you think.
We just covered a lot of information on how to compare 2016 Mazda MX-5 Miata insurance prices online. The most important thing to understand is the more price quotes you have, the higher the chance of saving money. Consumers may even find the most savings is with a smaller regional carrier.
Discount insurance can be sourced online as well as from independent agents, and you should be comparing both so you have a total pricing picture. Some insurance companies don’t offer online price quotes and many times these regional insurance providers only sell through independent insurance agents.
To read more, link through to these articles:
- Understanding your Policy (NAIC.org)
- Side Impact Crash Tests (iihs.org)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Insitute)
Frequently Asked Questions
Do I need added coverage for expensive stereo equipment in my vehicle?
Standard insurance policies often have limited coverage for stereo equipment. If you have expensive audio or stereo equipment, consider adding additional coverage specifically for those items to ensure they are adequately protected.
Can I still get coverage with a DUI on my record?
Getting coverage with a DUI on your record may be challenging, but it’s not impossible. Some insurance companies specialize in providing coverage for drivers with a DUI. It’s advisable to reach out to such companies or work with an insurance agent to find appropriate coverage.
What vehicles should carry emergency assistance coverage?
Emergency assistance coverage is typically beneficial for any vehicle. It can provide services like roadside assistance, towing, and other emergency support. Consider adding this coverage to your policy for added protection.
Am I insured when driving a different vehicle?
Insurance coverage can vary depending on the policy and the terms and conditions. Some policies may provide coverage when driving a different vehicle, but it’s important to check with your insurance provider to understand the extent of coverage.
Why am I required to get a high-risk car insurance policy?
If you have a history of accidents, traffic violations, or other high-risk factors, insurance companies may consider you a higher risk to insure. In such cases, you may be required to obtain a high-risk car insurance policy.
Can I rent a car in Mexico with my insurance policy?
Most standard insurance policies do not cover rental cars in Mexico. It’s important to inquire about specific coverage options or consider purchasing additional insurance when renting a car in Mexico.
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