Cheapest Insurance for a Mazda 5 in Oakland

Insurance for Mazda 5If you want to save money, the best way to get low-cost Mazda 5 insurance is to make a habit of regularly comparing prices from companies who provide auto insurance in Oakland. Rate comparisons can be done by following these guidelines.

  1. Try to learn about how insurance works and the modifications you can make to lower rates. Many risk factors that drive up the price such as traffic citations, accidents, and a low credit rating can be amended by making lifestyle changes or driving safer. This article gives ideas to get better rates and find additional discounts you may qualify for.
  2. Request rate estimates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give rate quotes from one company like Progressive and State Farm, while independent agents can quote prices for a wide range of insurance providers.
  3. Compare the new rate quotes to your current policy to determine if you can save on 5 insurance in Oakland. If you find a lower rate quote and change companies, make sure there is no lapse between the expiration of your current policy and the new one.
  4. Give notification to your current company of your intention to cancel your current auto insurance policy and submit a down payment along with a completed application to your new carrier. Once received, keep the new certificate verifying proof of insurance somewhere easily accessible.

The key aspect of shopping around is to use identical deductibles and limits on every price quote and and to get quotes from as many companies as you can. This provides a level playing field and a thorough price selection.

It’s well known that insurance companies don’t want their policyholders to compare prices. People who shop around for a cheaper policy are highly likely to switch auto insurance companies because they stand a good chance of finding coverage at a more affordable price. Remarkably, a study showed that drivers who routinely shopped for cheaper coverage saved approximately $860 a year compared to policyholders who never compared prices.

If finding discount rates on Mazda 5 insurance is your ultimate objective, then having some insight into how to get price quotes and compare insurance coverage can help you be more efficient.

Many insurance companies such as Progressive, GEICO, Allstate and State Farm allow you to get insurance quotes on their websites. Obtaining pricing for Mazda 5 insurance in Oakland is very simple as you simply type in your coverage information as detailed in the form. Upon sending the form, the quote system gets credit information and your driving record and quotes a price based on these factors. This makes it easy to compare insurance prices and it’s absolutely necessary to have as many quotes as possible in order to find cheap rates.

If you want to compare pricing, consider comparing rates from the companies shown below. If you have a policy now, it’s recommended that you enter deductibles and limits just like they are on your policy. This guarantees you’re receiving an apples-to-apples comparison for the exact same coverage.

The companies in the list below can provide comparison quotes in California. To buy cheap car insurance in California, it’s a good idea that you visit several of them to get a more complete price comparison.

Get cheaper Mazda 5 insurance in Oakland with discounts

Some insurance providers do not advertise the entire discount list very clearly, so the list below contains a few of the more common and the harder-to-find ways to save on insurance. If you do not check that you are getting every discount you deserve, you could be paying more than you need to.Discount insurance

You should keep in mind that most discount credits are not given to the whole policy. Some only apply to individual premiums such as liability and collision coverage. If you do the math and it seems like it’s possible to get free car insurance, companies wouldn’t make money that way. But all discounts will bring down your policy cost.

The illustration below shows the difference between Mazda 5 car insurance costs with and without discounts applied to the policy premium. The data assumes a male driver, no claims or violations, California state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, safe-driver, marriage, multi-policy, and claim-free discounts applied.

Larger insurance companies and some of their more popular discounts are outlined below.

If you are trying to find low cost Oakland auto insurance quotes, ask each insurance company to give you their best rates. Savings may not be offered in every state. To locate insurers with the best discounts in Oakland, click here.

Analysis of coverages

The coverage table shown below highlights detailed analysis of insurance prices for Mazda 5 models. Being more informed about how auto insurance premiums are established can help customers make decisions on the best policy to buy.

Mazda 5 Insurance Rates in Oakland, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $158 $292 $424 $26 $128 $1,028 $86
5 Touring Station Wagon $182 $354 $424 $26 $128 $1,114 $93
5 Grand Touring Station Wagon $182 $354 $424 $26 $128 $1,114 $93
Get Your Own Custom Quote Go

Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Estimates do not factor in specific garaging location which can raise or lower premium rates substantially.

Deductible comparison

A question often asked by Oakland drivers is which deductibles should you choose. The rates below illustrate the costs and benefits when you buy lower versus higher deductibles. The first rate estimation uses a $100 deductible for comprehensive and collision coverage and the second set of rates uses a $1,000 deductible.

Mazda 5 insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $332 $564 $376 $22 $112 $1,431 $119
5 Touring Station Wagon $380 $686 $376 $22 $112 $1,601 $133
5 Grand Touring Station Wagon $380 $686 $376 $22 $112 $1,601 $133
Get Your Own Custom Quote Go

Mazda 5 insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $184 $298 $376 $22 $112 $992 $83
5 Touring Station Wagon $210 $362 $376 $22 $112 $1,082 $90
5 Grand Touring Station Wagon $210 $362 $376 $22 $112 $1,082 $90
Get Your Own Custom Quote Go

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Table data does not factor in specific zip code location which can modify prices greatly.

Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you approximately $40 more each month or $480 each year averaged for all 5 models than opting for the higher $1,000 deductible. Because you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you normally go more than 23 months between claims, you would save more money if you elect the higher deductible.

How to calculate deductible break even point

Average monthly premium for $100 deductibles: $128
Average monthly premium for $1,000 deductibles (subtract): – $88
Monthly savings from raising deductible: $40
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $40
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

The diagram below highlights how deductible selection and can impact Mazda 5 insurance costs for each age group. The premium estimates are based on a married male driver, comprehensive and collision coverage, and no discounts are applied to the premium.

Does full coverage make sense?

The information below illustrates the difference between Mazda 5 insurance rates with liability coverage only compared to full coverage. The rates are based on no accidents, no driving violations, $250 deductibles, drivers are single, and no discounts are taken into consideration.

Are you wasting money paying for full coverage?

There isn’t a written rule of when to drop full coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost minus the deductible, then you might consider buying liability only.

For example, let’s assume your Mazda 5 claim settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company would pay you is $5,000 after paying your deductible. If you are paying over $500 annually for comprehensive and collision coverage, then you might consider buying liability only.

There are a few cases where dropping full coverage is not advised. If you haven’t satisfied your loan, you have to carry full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should maintain full coverage.

You Can Change Your Insurance Prices

Consumers need to have an understanding of the factors that help determine your auto insurance rates. If you understand what determines base rates, this enables you to make decisions that could result in lower premium levels. Lots of factors are considered when you quote your car insurance policy. Some factors are common sense like your driving record, but other factors are more obscure such as whether you are married and annual miles driven.

Good credit scores equal low costs – An insured’s credit rating can be a huge factor in determining your rates. If your credit score is lower than you’d like, you may save money insuring your Mazda 5 if you improve your credit rating. Consumers who have high credit scores tend to be more responsible than drivers who have lower credit ratings.

Certain jobs pay higher prices – Jobs such as real estate brokers, architects, and miners generally pay higher average rates because of intense work situations and lots of time spent away from family. On the other hand, occupations such as actors, historians and retirees have lower than average premiums.

Reduce premiums by staying claim free – If you are the type of insured that files lots of claims you can look forward to much higher rates or policy non-renewal. Companies in California award the best rates to policyholders who file claims infrequently. Your insurance policy is meant to be used in the event of major claims that would cause financial hardship.

Low deductibles can be expensive – Insurance for physical damage to your car, also called comprehensive and collision insurance, helps pay for damage to your vehicle. Some examples of covered claims could be a broken side mirror, collision with an animal, and having your car stolen. The deductibles you choose tell how much you are required to pay before a claim is paid by your company. The higher the amount you choose to pay out-of-pocket, the less your auto insurance will be.

Big city or small town – Residing in a rural area can save you money when insuring your vehicles. People in densely populated areas regularly have traffic congestion and longer commutes to work. Less people living in that area translates into fewer accident claims.

Protect yourself with liability insurance – Your auto insurance policy’s liability coverage is the coverage that protects you when a court rules you are at fault for an accident. It will provide for a legal defense which can cost thousands of dollars. Liability insurance is pretty cheap compared to insuring for physical damage coverage, so drivers should buy more than the minimum limits required by law.

Being married reduces risk – Being married may save some money on your policy. Having a spouse demonstrates that you tend to be more mature than a single person and it’s proven that being married results in fewer claims.

Good drivers pay less – Your driving citation history has a big impact on rates. Careful drivers have lower premiums than people who have multiple driving citations. Having a single driving citation can boost insurance rates by twenty percent. People who have multiple tickets such as hit and run, DWI or reckless driving convictions may be required to file a SR-22 with their state DMV in order to legally drive.

The illustration below shows how speeding tickets and at-fault accidents can impact Mazda 5 auto insurance rates for different age categories. Data assumes a single male driver, comp and collision included, $100 deductibles, and no discounts are factored in.

Mazda 5 claim data – Companies use claims history to determine a price that will be profitable for them. Models that are shown to have higher claim amounts or frequency will have a higher cost to insure. The information below illustrates the compiled insurance loss statistics for Mazda 5 vehicles.

For each policy coverage type, the loss probability for all vehicles, as a total average, is a value of 100. Percentages below 100 imply a favorable loss record, while percentage values above 100 point to more losses or tendency to have higher losses.

Mazda 5 Insurance Loss Statistics
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Mazda 5 86 86 73 103 95 91

Statistics from for 2013-2015 Model Years

Buying from car insurance agents

Many people still prefer to get professional advice from a licensed agent and that is just fine! One of the benefits of price shopping on the web is that drivers can save money and get cheap insurance quotes and still choose a local agent.

Insurance agency in OaklandTo find an agent, once you fill out this simple form, the quote information is sent to local insurance agents in Oakland that give free quotes to get your business. You never need to find an agent on your own since rate quotes are delivered to your email. Get lower rates without the usual hassles of price shopping. If you need to get a price quote from one company in particular, don’t hesitate to visit that company’s website and submit a quote form there.

Finding the right provider should depend on more than just the quoted price. You should also get answers to these questions.

Two types of car insurance agents

If you want to use a reliable insurance agent, it can be helpful to understand the types of agencies and how they operate. Agents can be described as either independent (non-exclusive) or exclusive.

Exclusive Agents

These type of agents write business for a single company such as State Farm, Allstate, and Farm Bureau. Exclusive agencies are unable to provide other company’s prices so they really need to provide good service. These agents receive extensive training on their company’s products which helps offset the inability to provide other markets.

Listed below is a list of exclusive agents in Oakland that can give you comparison quotes.

388 9th St #259Oakland, CA 94607(510) 893-3978View Map

859 Clay StOakland, CA 94607(510) 839-3276View Map

3028 International BlvdOakland, CA 94601(510) 532-8426View Map

More Oakland agents

Independent Agencies or Brokers

Independent insurance agents do not have single company limitations and that gives them the ability to insure with multiple insurance companies and possibly get better coverage at lower prices. If your premiums go up, they can switch companies in-house and that require little work on your part.

When comparing insurance prices, we recommend you compare prices from a few independent agents for maximum quote selection.

Shown below are Oakland independent agents that are able to give rate quotes.

Thandi Insurance Brokerage
2859 Mandela PkwyOakland, CA 94608(510) 452-1566View Map

3560 Grand AveOakland, CA 94610(510) 874-5700View Map

Greater Metrowest Insurance Agency
Oakland, CA 94612Oakland, CA 94612(510) 444-1404View Map

More Oakland agents

If you receive positive responses to these questions as well as offering an affordable quote, you may have found a car insurance agent that can be relied on to properly insure your vehicles. Keep in mind it’s your coverage and you can terminate your policy when you choose so don’t think that you’re stuck with any specific company with no way to switch.

Shop smart and save

You just learned many ways to save on Mazda 5 insurance in Oakland. It’s most important to understand that the more price quotes you have, the higher the chance of saving money. You may even find the biggest savings come from a small local company. Some small companies may often insure only within specific states and give better rates than their larger competitors like State Farm or Progressive.

As you restructure your insurance plan, do not skimp on critical coverages to save a buck or two. There are too many instances where an accident victim reduced liability coverage limits and discovered at claim time that it was a big mistake. Your strategy should be to purchase a proper amount of coverage at the lowest possible cost while still protecting your assets.

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