Cheap Portland Mazda MX-5 Miata Insurance

It’s an obvious statement that car insurance companies don’t want policyholders to compare prices from other companies. Insureds who shop around for the cheapest rate will, in all likelihood, switch companies because there is a good probability of finding a more affordable policy premium. A recent survey found that people who made a habit of comparing rates saved as much as $865 a year compared to other drivers who never shopped for cheaper rates.

If saving the most money on auto insurance is your objective, then learning about how to compare insurance coverage can help make the process easier.

If saving money is your primary concern, then the best way to find cheaper prices for Mazda MX-5 Miata insurance is to do an annual price comparison from different companies that sell auto insurance in Portland. You can compare rates by following these guidelines.

1. Spend some time learning about how companies set rates and the things you can change to prevent rate increases. Many rating factors that result in higher rates like traffic violations, accidents, and a bad credit score can be controlled by making minor changes to your lifestyle.
2. Quote rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can give quotes from a single company like Progressive or Farmers Insurance, while independent agencies can provide rate quotes from many different companies.
3. Compare the new quotes to your existing policy to see if a cheaper rate is available. If you find a lower rate quote and decide to switch, make sure there is no coverage gap between policies.
4. Provide notification to your current company to cancel the current policy. Submit the completed application along with a down payment to your new agent or company. Make sure you place your new proof of insurance paperwork in an easily accessible location.

One tip to remember is to try to use identical limits and deductibles on every quote request and and to compare as many companies as you can. Doing this enables the most accurate price comparison and the most accurate and complete price analysis.

Companies offering Mazda MX-5 Miata insurance in Oregon

The companies in the list below are ready to provide price comparisons in Oregon. If your goal is to find cheap car insurance in Portland, we recommend you visit several of them to find the lowest auto insurance rates.

Auto insurance statistics for a Mazda MX-5 Miata

The information shown next outlines a range of insurance coverage prices for Mazda MX-5 Miata models. Learning as much as possible about how premiums are formulated is important for you to make smart choices when choosing a car insurance company.

Prices above based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Oregon minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Table data does not factor in specific garaging location which can revise insurance rates significantly.

Physical damage deductibles

A question often asked by Portland drivers is how high or low should comp and collision deductibles be. The rates below may help you to understand the differences in premium rates between low and high deductibles. The first pricing table uses a $100 deductible for physical damage and the second data table uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Oregon minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Estimates do not factor in vehicle location which can change premium rates significantly.

Based on the figures above, using a $100 deductible costs an average of $21 more each month or $252 for a full year averaged for all MX-5 Miata models than selecting the higher $500 deductible. Since you would pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you normally go at least 19 months between claim filings, you would probably save some money by going with a higher deductible.

Impact of citations and accidents on insurance rates

The diagram below illustrates how violations and at-fault claims impact Mazda MX-5 Miata insurance costs for each different age category. The premiums are based on a single male driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.

Full coverage rates compared to liability-only

The diagram below illustrates the difference between Mazda MX-5 Miata insurance premiums with full coverage compared to only the Oregon minimum liability coverage. The price estimates are based on no violations or accidents, $500 deductibles, drivers are not married, and no discounts are applied.

Guidelines for eliminating full coverage

There is no definitive formula of when to eliminate full coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is 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 pretend your Mazda MX-5 Miata book value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $2,000 after paying your policy deductible. If it’s costing in excess of $200 annually for physical damage coverage, then it might be time to buy liability only.

There are some scenarios where dropping physical damage coverage is not recommended. If you still have a loan on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should not drop full coverage.

Save a ton with discounts

Some providers don’t always publicize all discounts in an easy-to-find place, so the list below details some of the more common as well as some of the hidden credits available to bring down your rates.

• Senior Citizen Rates – Older drivers can possibly qualify for reduced rates.
• Employee of Federal Government – Having worked for a branch of the government may reduce rates when you quote Portland auto insurance but check with your company.
• Savings for New Vehicles – Putting insurance coverage on a new MX-5 Miata may earn a small discount due to better safety requirements for newer models.
• Passenger Safety Discount – Vehicles with factory air bags may earn rate discounts of up to 25% or more.
• Seat Belts Save – Requiring all passengers to fasten their seat belts may be able to save a few bucks off PIP or medical payments premium.
• Accident Forgiveness – This one is not really a discount per se, but companies like Liberty Mutual and GEICO allow you one accident before raising your premiums so long as you haven’t had any claims for a certain period of time.
• Student Discounts – Maintaining excellent grades can earn a discount of 20% or more. Earning this discount can benefit you well after school through age 25.
• Responsible Drivers – Insureds without accidents can pay as much as 50% less compared to accident prone drivers.
• Student Discount for Driver Training – Require your teen driver to participate in a local driver’s education class if offered at their school.

As a disclaimer on discounts, most of the big mark downs will not be given to the overall cost of the policy. The majority will only reduce individual premiums such as physical damage coverage or medical payments. Despite the appearance that it’s possible to get free car insurance, nobody gets a free ride.

The diagram below illustrates the difference between Mazda MX-5 Miata yearly insurance costs with and without discounts. The information is based on a male driver, no accidents or driving violations, Oregon state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, safe-driver, multi-policy, multi-car, and marriage discounts applied.

Companies and a summarized list of policyholder discounts include:

• GEICO includes discounts for military active duty, anti-lock brakes, multi-vehicle, federal employee, emergency military deployment, and daytime running lights.
• USAA offers discounts for military installation, good student, multi-vehicle, multi-policy, defensive driver, safe driver, and family discount.
• Progressive may include discounts for online signing, multi-vehicle, continuous coverage, good student, multi-policy, and online quote discount.
• American Family offers discounts including Steer into Savings, TimeAway discount, mySafetyValet, multi-vehicle, good student, defensive driver, and good driver.
• Esurance may have discounts that include claim free, online quote, Switch & Save, anti-theft, and Pac-12 alumni.
• Farmers Insurance discounts include alternative fuel, business and professional, switch companies, homeowner, early shopping, pay in full, and distant student.
• State Farm has discounts for anti-theft, defensive driving training, Steer Clear safe driver discount, Drive Safe & Save, and multiple policy.

When getting a coverage quote, ask every insurance company how you can save money. Depending on the company, some discounts may not be offered everywhere. To see a list of companies with the best Mazda MX-5 Miata insurance discounts in Portland, click here to view.

Do I need an insurance agency?

Certain consumers would prefer to talk to an insurance agent and that is recommended in a lot of cases One of the best bonuses of getting free rate quotes online is that you can obtain cheap rate quotes and still have a local agent. Buying insurance from local insurance agencies is especially important in Portland.

To help locate an agent, after submitting this short form, your coverage information is immediately sent to local insurance agents in Portland who will give you bids and help you find cheaper coverage. You don’t have to visit any agencies because prices are sent immediately to you. You can most likely find cheaper rates and an insurance agent to talk to. If you want to compare prices from a particular provider, just search and find their rate quote page and give them your coverage information.

When finding a reputable insurance agent or broker, it helps to know the two types of insurance agents that you can choose from. Insurance agencies in Portland are either independent or exclusive.

Independent Insurance Agents

Agents that elect to be independent are normally appointed by many insurers so as a result can place your coverage with lots of companies depending on which coverage is best. To move your coverage to a new company, your policy is moved internally and you won’t have to switch agencies.

When comparing insurance prices, you will want to get quotes from a few independent agents for maximum quote selection.

Below are Portland independent insurance agents that may be able to give you free rate quotes.

More Portland agents

Exclusive Agencies

Agents in the exclusive channel generally can only insure with one company such as AAA, Allstate, and State Farm. Exclusive agents are unable to provide prices from multiple companies so they are skilled at selling on more than just price. Exclusive agencies are well trained on their company’s products and that enables them to sell even at higher rates.

Listed below is a short list of exclusive insurance agents in Portland that can give you price quote information.

More Portland agents

Deciding on a auto insurance agent requires more thought than just a cheap price quote. You should also get answers to these questions.

• If your car is totaled, how to they determine the replacement cost?
• Can they help ensure a fair claim settlement?
• Will high miles depreciate repair valuations?
• Does the company allow you to choose your own collision repair facility?
• Do you work with a CSR or direct with the agent?
• Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?

In the end, you can save money

When buying insurance coverage, it’s very important that you do not reduce needed coverages to save money. There are a lot of situations where an insured cut liability coverage limits only to regret they didn’t purchase enough coverage. The ultimate goal is to find the BEST coverage at the lowest possible cost, but do not sacrifice coverage to save money.

Budget-friendly insurance in Portland is possible both online in addition to local insurance agencies, and you need to price shop both to have the best chance of lowering rates. A few companies don’t offer rate quotes online and many times these smaller companies work with local independent agencies.

More tips and info about insurance is available in these articles:

• Collision Coverage (Liberty Mutual)
• Who Has Cheap Auto Insurance for a Toyota Highlander in Portland? (FAQ)
• Who Has Cheap Car Insurance Rates for Veterans in Portland? (FAQ)
• Who Has Cheap Portland Car Insurance for 4×4 Vehicles? (FAQ)
• Who Has Affordable Auto Insurance Rates for Drivers with Accidents in Portland? (FAQ)
• Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
• Auto Theft Statistics (Insurance Information Institute)
• Preventing Carjacking and Theft (Insurance Information Institute)
• Uninsured Motorists: Threats on the Road (Insurance Information Institute)