Affordable Mazda MX-5 Miata Insurance in Lubbock

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Discount Mazda MX-5 Miata insuranceIf saving the most money is your goal, then the best way to find affordable Mazda MX-5 Miata insurance is to start comparing rates regularly from companies who sell insurance in Lubbock. You can compare rates by following these guidelines.

Step 1: Gain an understanding of how companies price auto insurance and the measures you can control to prevent high rates. Many risk factors that result in higher rates such as careless driving and an imperfect credit history can be amended by making minor driving habit or lifestyle changes.

Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give rate quotes from a single company like GEICO or State Farm, while independent agencies can give you price quotes from multiple insurance companies.

Step 3: Compare the new rates to your existing rates to see if switching to a new carrier will save money. If you find a lower rate quote and buy the policy, verify that coverage does not lapse between policies.

Step 4: Notify your agent or company to cancel your current policy and submit payment along with a signed and completed policy application for the new policy. As soon as coverage is bound, keep your new certificate verifying proof of insurance in your glove compartment.

One key aspect when comparing rates is to try to compare identical coverages on every quote request and and to analyze as many companies as feasibly possible. This helps ensure a level playing field and the best price selection.

It's an obvious assumption that auto insurance companies don't want you to look for a cheaper policy. Drivers who get comparison quotes at least once a year will probably move their business because there is a good probability of finding a policy with better rates. A study showed that drivers who regularly compared rates saved over $3,500 over four years compared to people who never shopped around.

If finding the cheapest rates on insurance in Lubbock is your intention, knowing how to find companies and compare coverages can save time and make the process easier.

If you have insurance now or want to find a cheaper company, use these money-saving tips to get lower rates without having to cut coverage. Getting quotes for the lowest cost coverage in Lubbock can be fairly easy. Drivers only need an understanding of the least time-consuming way to shop for insurance from many different companies online.

The quickest method we recommend to compare rates for Mazda MX-5 Miata insurance in Lubbock takes advantage of the fact all the major auto insurance companies participate in a system to quote your coverage. To start a quote, the only thing you need to do is provide a small amount of information like driver ages, level of coverage desired, if the vehicle is leased, and how much school you completed. That information is instantly submitted to multiple insurance providers and they provide comparison quotes quickly.

To compare affordable Mazda MX-5 Miata insurance rates now, click here and enter your coverage details.

The following companies are ready to provide quotes in Texas. If multiple companies are listed, we suggest you visit several of them in order to get a fair rate comparison.

Auto insurance is not optional but you don't have to overpay

Even though it's not necessarily cheap to insure a Mazda in Lubbock, buying auto insurance serves several important purposes.

  • The majority of states have minimum liability requirements which means you are required to buy a specific level of liability protection in order to license the vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If your MX-5 Miata has a lienholder, almost every bank will make it mandatory that you have full coverage to protect their interest in the vehicle. If coverage lapses or is canceled, the bank will be required to insure your Mazda at a more expensive rate and require you to pay a much higher amount than you were paying before.
  • Insurance safeguards both your assets and your vehicle. It will also provide coverage for medical transport and hospital expenses for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit if you are named as a defendant in an auto accident. If you have damage to your Mazda as the result of the weather or an accident, your policy will cover the repair costs.

The benefits of buying enough insurance more than cancel out the cost, especially when you need to use it. But the average driver in Texas overpays more than $869 every year so smart consumers compare quotes at least once a year to help ensure money is not being wasted.

Mazda MX-5 Miata insurance charts and tables

The premium information shown below highlights detailed analysis of insurance premium costs for Mazda MX-5 Miata models. Being more informed about how prices are calculated can aid in making informed decisions when comparing rate quotes.

Mazda MX-5 Miata Insurance Rates in Lubbock, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MX-5 Miata Sport 2-Dr Convertible $220 $400 $340 $20 $102 $1,082 $90
MX-5 Miata Touring 2-Dr Convertible $254 $486 $340 $20 $102 $1,202 $100
MX-5 Miata Grand Touring 2-Dr Convertible $254 $486 $340 $20 $102 $1,202 $100
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Table data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Prices do not factor in specific zip code location which can increase or decrease premium rates greatly.

Rate comparison for different deductibles

One of the most common insurance questions is how low should you set your deductibles. The premium rates below highlight the premium difference when you choose different coverage deductibles. The first rate estimation uses a $100 deductible for comp and collision and the second set of prices uses a $500 deductible.

Mazda MX-5 Miata insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MX-5 Miata Sport 2-Dr Convertible $286 $486 $324 $20 $96 $1,237 $103
MX-5 Miata Touring 2-Dr Convertible $328 $592 $324 $20 $96 $1,385 $115
MX-5 Miata Grand Touring 2-Dr Convertible $328 $592 $324 $20 $96 $1,385 $115
Get Your Own Custom Quote Go
Mazda MX-5 Miata insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MX-5 Miata Sport 2-Dr Convertible $208 $328 $324 $20 $96 $976 $81
MX-5 Miata Touring 2-Dr Convertible $240 $400 $324 $20 $96 $1,080 $90
MX-5 Miata Grand Touring 2-Dr Convertible $240 $400 $324 $20 $96 $1,080 $90
Get Your Own Custom Quote Go

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Rate information does not factor in garaging location in Lubbock which can influence rates substantially.

Based on this data, using a $100 deductible will cost you approximately $24 more each month or $288 every year averaged for all MX-5 Miata models than choosing the higher $500 deductible. Since you would pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you go at least 17 months between claim filings, you would save more money if you elect the higher deductible.

The chart below demonstrates how deductibles and can increase or decrease Mazda MX-5 Miata insurance rates for different ages of insureds. Data assumes a single male driver, comp and collision included, and no policy discounts are applied.

Premiums by gender and age

The diagram below illustrates the comparison of Mazda MX-5 Miata premium costs for male and female drivers. The prices are based on no claims, a clean driving record, full physical damage coverage, $250 deductibles, marital status is single, and no discounts are taken into consideration.

Mazda MX-5 Miata liability-only versus full coverage

The chart below shows the difference between Mazda MX-5 Miata premium costs with full physical damage coverage compared to only buying liability only. Data assumes a clean driving record, no at-fault accidents, $100 deductibles, drivers are not married, and no additional discounts are factored in.

Deciding between full coverage and liability only

There is no definitive rule of when to drop physical damage coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.

For example, let's pretend your Mazda MX-5 Miata settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $8,000 after the deductible is paid. If you are paying more than $800 annually for full coverage, then you might consider buying liability only.

There are some conditions where eliminating full coverage is not a good plan. If you haven't satisfied your loan, you are required to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not remove full coverage.

Cheap Mazda MX-5 Miata insurance in Lubbock

Insurance is not inexpensive, but there could be available discounts to reduce the price significantly. Some of these discounts will be visible when you purchase, but occasionally some discounts must be specially asked for prior to getting the savings.Cheaper insurance with discounts

  • Anti-theft Discount - Vehicles with anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
  • Distant College Student Discount - Youth drivers living away from Lubbock attending college without a vehicle on campus can receive lower rates.
  • 55 and Retired - Drivers over the age of 55 could receive a discount up to 10%.
  • Passenger Safety Discount - Vehicles equipped with air bags or motorized seat belts may get savings up to 30%.
  • Waiver for an Accident - This one is not really a discount per se, but certain companies permit an accident before your rates go up if you have no claims prior to the accident.
  • Claim Free - Drivers with accident-free driving histories can earn big discounts in comparison to bad drivers.
  • Good Student Discount - Maintaining excellent grades can earn a discount of 20% or more. Most companies allow this discount well after school through age 25.
  • Defensive Driver Discounts - Taking time to complete a defensive driver class can save you 5% or more if you qualify.
  • Multiple Cars - Buying a policy with several vehicles with the same company can reduce rates for all insured vehicles.

A quick disclaimer, most discounts do not apply to the entire policy premium. Some only apply to the price of certain insurance coverages like comp or med pay. So even though it sounds like you can get free auto insurance, nobody gets a free ride.

The diagram below shows the comparison of Mazda MX-5 Miata yearly insurance costs with and without some available policy discounts. The premium estimates are based on a male driver, no violations or claims, Texas state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, marriage, multi-policy, claim-free, and multi-car discounts applied.

A list of insurance companies and their possible discounts are detailed below.

  • GEICO has discounts for driver training, daytime running lights, good student, defensive driver, multi-policy, seat belt use, and anti-lock brakes.
  • Mercury Insurance has savings for low natural disaster claims, multi-policy, anti-theft, age of vehicle, and annual mileage.
  • Farmers Insurance offers discounts for switch companies, teen driver, alternative fuel, pay in full, electronic funds transfer, and bundle discounts.
  • Auto-Owners Insurance may include discounts for student away at school, multiple vehicles, safe driver, anti-lock brakes, paid in full, good student, and air bags.
  • Liberty Mutual may have discounts that include new graduate, multi-policy, newly retired, newly married, hybrid vehicle, multi-car, and preferred payment discount.
  • SAFECO offers premium reductions for teen safe driver, multi-car, homeowner, accident prevention training, safe driver, bundle discounts, and anti-lock brakes.
  • Progressive policyholders can earn discounts including online quote discount, continuous coverage, multi-policy, homeowner, online signing, multi-vehicle, and good student.
  • USAA may offer discounts for good student, safe driver, defensive driver, vehicle storage, military installation, new vehicle, and driver training.

If you need inexpensive Lubbock auto insurance quotes, ask every company the best way to save money. Some of the discounts discussed earlier may not be available in Lubbock. If you would like to see a list of companies that can offer you the previously mentioned discounts in Texas, follow this link.

What insurance coverages do I need?

When quoting and choosing a policy for your personal vehicles, there really is no single plan that fits everyone. Everyone's situation is a little different and your auto insurance should unique, too.Safe vehicles cost less to insure These are some specific questions can aid in determining whether your personal situation would benefit from an agent's advice.

  • What happens if I owe more than my Mazda MX-5 Miata is worth?
  • When should I remove comp and collision on my Mazda MX-5 Miata?
  • What states are considered no-fault?
  • I don't drive much so do I pay less?
  • What is high-risk coverage and where do I buy it?
  • Am I covered when driving a rental car?

If you can't answer these questions but you know they apply to you, then you may want to think about talking to an agent. To find lower rates from a local agent, simply complete this short form or click here for a list of auto insurance companies in your area. It only takes a few minutes and can provide invaluable advice.