Compare Mazda MX-5 Miata Insurance Rates in Oakland

Shockingly, almost 70% of insureds have remained with the same auto insurance company for at least four years, and just short of a majority have never compared rates to find affordable insurance. Oakland insurance shoppers could save up to $469 each year, but they just don’t want to compare rate quotes online.

If saving the most money is your goal, then the best way to get more affordable Mazda MX-5 Miata insurance is to regularly compare price quotes from different companies that insure vehicles in Oakland. Price quotes can be compared by completing these steps.

Step 1: Spend a few minutes and learn about individual coverages and the modifications you can make to prevent expensive coverage. Many risk factors that increase rates such as distracted driving and poor credit rating can be improved by making small lifestyle or driving habit changes.

Step 2: Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only quote rates from one company like GEICO or Allstate, while independent agents can provide price quotes for many different companies.

Step 3: Compare the quotes to the premium of your current policy and see if there is a cheaper rate in Oakland. If you find a better price, verify that coverage does not lapse between policies.

Step 4: Tell your current agent or company to cancel the current policy. Submit a down payment and signed policy application to your new carrier. As soon as you receive it, put the new proof of insurance certificate in your glove compartment.

The most important part of shopping around is to try to use the same level of coverage on each price quote and and to get price quotes from as many carriers as you can. This provides an accurate price comparison and a better comparison of the market.

If you have a policy now, you should be able to save money using the techniques covered below. The purpose of this post is to teach you a little about how to compare rates easily and also pocket some savings But California drivers benefit from understanding how insurance companies calculate their prices and apply this information to your search.

The best way we recommend to get rate comparisons for Mazda MX-5 Miata insurance in Oakland is to understand auto insurance companies provide online access to compare their rates. To get started, all you need to do is provide information like coverage limits, the make and model of your vehicles, what your job is, and if you are currently licensed. That rating information is submitted instantly to many of the top insurers and you will receive price estimates almost instantly.

To check rates for your car now, click here and enter your coverage details.

The providers in the list below have been selected to offer price comparisons in Oakland, CA. If your goal is to find cheap auto insurance in Oakland, CA, it’s highly recommended you compare several of them to get the best price comparison.

Why you need quality insurance for your MX-5 Miata

Even though Oakland MX-5 Miata insurance rates can get expensive, insuring your vehicle is not optional due to several reasons.

• The majority of states have compulsory liability insurance requirements which means you are required to carry a specific minimum amount of liability protection in order to get the vehicle licensed. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
• If you bought your Mazda with a loan, almost every bank will force you to have full coverage to protect their interest in the vehicle. If the policy lapses, the lender may insure your Mazda at an extremely high rate and force you to pay for it.
• Insurance protects your Mazda and your assets. It also can pay for hospital and medical expenses for yourself as well as anyone injured by you. Liability coverage will also pay to defend you in the event you are sued. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of carrying adequate insurance definitely exceed the price paid, especially when you need to use it. On average, a vehicle owner in Oakland is wasting up to $825 a year so you should quote and compare rates at every policy renewal to make sure the price is not too high.

Detailed insurance information

The coverage table shown next outlines a range of policy rates for Mazda MX-5 Miata models. Understanding more about how car insurance premiums are formulated can assist in making decisions on which insurance to purchase.

Prices based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Prices do not factor in zip code location which can increase or decrease premium rates noticeably.

Insurance deductibles

When comparing insurance rates, the most common question is how high should the deductibles for physical damage be. The rates shown below outline the differences in price between low and high deductibles. The first pricing table uses a $100 deductible and the second rate table uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Rate information does not factor in Oakland location which can lower or raise premiums substantially.

Based on the figures above, using a $100 deductible will cost in the ballpark of $27 more each month or $324 a year than buying the higher $500 deductible. Because you would be required to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you average at a minimum 15 months between claim filings, you would probably save some money if you elect the higher deductible. The table below shows the way you can make your own decision.

One big caveat is that increasing deductibles to save money results in more money out-of-pocket when you have to file a claim. It will be required that you have enough disposable income in the event you need to pay the deductible.

Impact of citations and accidents on insurance rates

The example below demonstrates how traffic citations and at-fault accidents can raise Mazda MX-5 Miata auto insurance rates for each different age category. The premiums assume a married female driver, comprehensive and collision coverage, $100 deductibles, and no discounts are taken into consideration.

Full coverage rates compared to liability-only

The information below shows the difference between Mazda MX-5 Miata yearly insurance costs when comparing full coverage to liability only. Data assumes no violations or accidents, $500 deductibles, drivers are single, and no policy discounts are applied.

When to eliminate full coverage

There is no exact rule to stop buying comp and collision coverage, but there is a general convention. If the annual cost of coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.

For example, let’s pretend your Mazda MX-5 Miata claim settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $8,000 after the deductible is paid. If it’s costing in excess of $800 annually for full coverage, then you might want to think about dropping full coverage.

There are some cases where dropping physical damage coverage is not in your best interest. If you still owe a portion of the original loan, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should keep full coverage.

Slash rates with these discounts on Mazda MX-5 Miata insurance in Oakland

Insuring your vehicles can cost a lot, but there could be significant discounts to help offset the cost. Certain credits will be shown when you get a quote, but less common discounts must be asked about in order for you to get them.

• Payment Method – If you pay your entire premium ahead of time instead of paying each month you may have a lower total premium amount.
• Sign Online – Some companies may give you up to $50 for buying your policy on the web.
• Theft Prevention Discount – Cars that have factory anti-theft systems have a lower chance of being stolen and therefore earn up to a 10% discount.
• Senior Citizen Discount – Drivers over the age of 55 may be able to get a slight reduction on a Oakland auto insurance quote.
• Data Collection Discounts – Drivers that enable their insurance company to analyze driving habits by using a telematics device such as Snapshot from Progressive or Drivewise from Allstate might see lower rates if they show good driving skills.

Discounts reduce rates, but you should keep in mind that many deductions do not apply to the entire policy premium. Some only reduce the cost of specific coverages such as comp or med pay. Despite the fact that it seems like you can get free auto insurance, company stockholders wouldn’t be very happy.

The diagram below shows the comparison of Mazda MX-5 Miata insurance prices with and without discounts applied to the rates. The price estimates are based on a male driver, no violations or accidents, California state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, claim-free, homeowner, marriage, and multi-car discounts applied.

Some of the larger companies that have some of the discounts shown above include:

• State Farm
• American Family
• AAA
• GEICO
• Mercury Insurance
• Farmers Insurance
• Progressive

Check with every prospective company which discounts they offer. Savings might not be offered on policies in every state. To find companies with discount car insurance rates in California, click this link.

Car insurance can get complicated

Always remember that when buying adequate coverage, there really is not a “best” method to buy coverage. Coverage needs to be tailored to your specific needs so this has to be addressed.
For example, these questions might point out whether or not you would benefit from professional advice.

• Am I covered if hit by an uninsured driver?
• Can my teen drive my company car?
• What is UM/UIM insurance?
• Does rental coverage apply when I am renting a car?
• What is the rate difference between pleasure use and commuting?
• Do I need higher collision deductibles?
• Is my business laptop covered if it gets stolen from my vehicle?
• Does coverage extend to Mexico or Canada?
• Is my camper covered by my car insurance policy?

If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an agent. If you don’t have a local agent, fill out this quick form or click here for a list of car insurance companies in your area.