Save Money on Mazda RX-8 Insurance in Portland

Amazingly, a recent NerdWallet.com study showed that 70% of consumers kept their coverage with the same car insurance company for four years or more, and nearly half have never compared rates from other carriers. Many drivers in Portland could save themselves roughly $1,000 a year, but they don’t understand how simple it is to find cheap insurance by shopping around.

It takes a few minutes, but the best way to find the cheapest price for car insurance rates in Portland is to compare prices once a year from providers that insure vehicles in Oregon. Drivers can shop around by following these guidelines.

• First, learn about how insurance works and the modifications you can make to keep rates low. Many risk factors that result in higher rates such as accidents, traffic violations, and a negative credit history can be eliminated by paying attention to minor details.
• Second, quote rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like GEICO or Allstate, while agents who are independent can provide rate quotes from many different companies.
• Third, compare the price quotes to the premium of your current policy to see if a cheaper price is available. If you find a lower rate quote, ensure coverage does not lapse between policies.
• Fourth, give notification to your agent or company to cancel your current coverage and submit payment and a signed application to the new insurer. Make sure you place your new proof of insurance paperwork somewhere easily accessible.

A good piece of advice is to try to use similar deductibles and liability limits on each quote request and and to get quotes from as many car insurance companies as possible. This enables an apples-to-apples comparison and the most accurate and complete price analysis.

If you currently have a car insurance policy, you will most likely be able to get lower rates using this strategy. Locating the best rates in Portland can be easy if you know a few tricks. Nevertheless, Oregon consumers do need to know how insurance companies price online insurance because rates fluctuate considerably.

The best way we recommend to compare rates for Mazda RX-8 insurance in Portland is to take advantage of the fact car insurance companies allow for online access to quote your coverage. The only thing you need to do is provide information such as level of coverage desired, your general credit rating, if you went to college, and if you’re married. Your information is instantly sent to multiple top-rated companies and you get price estimates very quickly.

To check Mazda RX-8 insurance prices now, click here and see if a lower rate is available in Portland.

The companies shown below are ready to provide comparison quotes in Oregon. To locate cheap auto insurance in Oregon, we suggest you visit several of them in order to find the lowest rates.

Mazda RX-8 insurance statistics and information

The price information shown next outlines a range of insurance prices for Mazda RX-8 models. Having a better idea how prices are figured can be of help when making smart buying decisions.

Data variables include single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Oregon minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Price information does not factor in specific zip code location which can affect prices noticeably.

Higher deductibles lower rates

One of the more difficult decisions when buying insurance is the level to set your comp and collision deductibles. The tables below can help you visualize how much more rates are when you buy lower versus higher coverage deductibles. The first rate comparisons uses a $250 comprehensive and collision deductible and the second price table uses a $500 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Oregon minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Rates do not factor in the specific area where the vehicle is garaged which can impact auto insurance rates noticeably.

Based on the above data, using a $250 deductible will cost in the ballpark of $16 more each month or $192 every year than choosing the higher $500 deductible. Due to the fact that you would have to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to have at a minimum 16 months between claims, you would more than likely save some money if you choose a higher deductible.

The illustration below shows how choosing a deductible and can influence Mazda RX-8 premium costs for each age group. The price estimates are based on a married female driver, comp and collision included, and no additional discounts are factored in.

Careless drivers pay higher rates

The diagram below demonstrates how speeding tickets and at-fault fender-benders can raise Mazda RX-8 auto insurance rates for each different age group. The premiums are based on a married female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.

Rate difference between full and liability-only coverage

The chart below visualizes the comparison of Mazda RX-8 insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Oregon. The premiums are based on a clean driving record, no claims, $500 deductibles, single marital status, and no discounts are applied.

Should you pay for full coverage?

There is no definitive guideline for eliminating physical damage coverage, but there is a general convention. If the annual cost of having full coverage is more than around 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.

For example, let’s assume your Mazda RX-8 replacement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $5,000 after paying the physical damage deductible. If you are paying in excess of $500 annually for full coverage, then it may be the right time to buy liability only.

There are some circumstances where buying only liability insurance is not a good idea. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan requirements. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not eliminate full coverage.

Don’t overlook these Mazda RX-8 insurance discounts

Insurance can cost an arm and a leg, but you might find some hidden discounts that may help make it more affordable. Many discounts should be triggered at quote time, but some may not be applied and must be asked about in order for you to get them. If you aren’t receiving every discount possible, you are paying more than you should be.

• Switch and Save Discount – Some auto insurance companies give discounts for switching policies before your current RX-8 insurance policy expires. You can save around 10% with this discount.
• Telematics Data – Insureds who allow their company to analyze their driving habits by installing a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system might get better premium rates if they exhibit good driving behavior.
• Driver Training Discounts – Taking time to complete a course in defensive driver could earn you a small percentage discount depending on where you live.
• Paperless Signup – A handful of companies may give you up to $50 just for signing your application digitally online.
• College Student Discount – Any of your kids who are enrolled in a college that is more than 100 miles from Portland and do not take a car to college may be insured at a cheaper rate.

Policy discounts save money, but most of the big mark downs will not be given to the overall cost of the policy. Most only cut the price of certain insurance coverages like comp or med pay. Despite the fact that it seems like adding up those discounts means a free policy, it just doesn’t work that way.

The example below compares Mazda RX-8 insurance premiums with and without discounts applied to the rates. The premiums are based on a male driver, no accidents or driving violations, Oregon state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, multi-policy, claim-free, marriage, and homeowner discounts applied.

To see auto insurance companies that offer discounts in Oregon, click this link.

Three reasons to insure your RX-8

Even though it’s not necessarily cheap to insure a Mazda in Portland, insurance may be mandatory for several reasons.

• Just about all states have mandatory insurance requirements which means the state requires a specific level of liability protection if you drive a vehicle. In Oregon these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
• If you took out a loan on your vehicle, most lenders will force you to buy full coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the lender will be forced to insure your Mazda at a much higher rate and force you to pay a much higher amount than you were paying before.
• Car insurance protects both your Mazda and your personal assets. Insurance will pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage also pays expenses related to your legal defense if anyone sues you for causing an accident. If you receive damage to your vehicle caused by a storm or accident, your policy will cover the damage repairs after a deductible is paid.

The benefits of insuring your car definitely exceed the cost, particularly if you ever have a claim. As of last year, the average driver in Oregon overpays more than $850 per year so you should quote rates once a year at a minimum to help ensure money is not being wasted.

Car insurance agents near you

A lot of people still like to have an agent’s advice and that is just fine! A nice benefit of getting free rate quotes online is the fact that drivers can get cheap insurance rates and also buy local.

To find an agent, once you fill out this short form, your information is sent to agents in your area who will gladly provide quotes to get your business. You won’t even need to drive around since price quotes are sent directly to your email. You can find better rates and work with a local agent. In the event you want to get a rate quote from a particular provider, you just need to navigate to their website and submit a quote form there.

Finding a good insurer is decision based upon more than just a low price. These are some questions you should get answers to.

• What is the agency’s Better Business Bureau rating?
• How much training do they have in personal risk management?
• Are they able to influence company decisions when a claim is filed?
• How often do they review coverages?
• Does the agent have a valid license to sell insurance in Oregon?
• Do the agents have professional certifications like CPCU or CIC?
• Does the company have a solid financial rating?
• Are they primarily personal or commercial lines agents in Portland?

The difference between Portland car insurance agents

If you prefer to buy insurance from a reliable agent, you should know the different agency structures that you can select. Portland agents are classified as either independent or exclusive.

Exclusive Insurance Agents

Agents that elect to be exclusive can only quote rates from one company and some examples include Farmers Insurance or State Farm. Exclusive agents cannot compare rates from other companies so if the price isn’t competitive there isn’t much they can do. Exclusive agencies are trained well on the products they sell which helps them compete with independent agents.

The following is a list of exclusive agents in Portland that can give you comparison quotes.

More insurance agents

Independent Agents (or Brokers)

Agents in the independent channel are not restricted to one company and that enables them to quote your coverage through lots of different companies and find you cheaper rates. If premiums increase, they simply move your policy to a different company and you don’t have to switch agencies.

When shopping rates, we highly recommend that you get quotes from independent agents so that you can do a thorough price comparison.

The following are independent agencies in Portland willing to provide rate quotes.

More insurance agents

Once you have good responses to your questions as well as inexpensive Mazda RX-8 insurance in Portland quotes, you may have found a car insurance agent that meets the requirements to insure your vehicles.