Best Ways to Save on Madison Mazda 3 Insurance

  1. Home
  2. >
  3. Madison Auto Insurance
  4. >
  5. Mazda 3

Mazda 3 insurance rates
Mazda 3 insurance rates image courtesy of QuoteInspector.com

Have you had enough of trying to scrape together enough money to pay your car insurance bill each month? You're in the same situation as many other Wisconsin consumers.

Insurance rates Mazda 3 in MadisonA recent car insurance study discovered that a large majority of consumers have been with the same company for at least the last four years, and about 40% of consumers have never shopped around. Drivers in Madison could save $373 every year, but they underestimate the amount of money they would save if they replace their high priced policy.

Steps to finding low-cost Mazda 3 insurance in Madison

It takes a few minutes, but the best way to get budget Mazda 3 insurance in Madison is to compare quotes once a year from different companies in Wisconsin. You can compare rates by completing these steps.

  • First, gain an understanding of the different coverages in a policy and the things you can change to keep rates in check. Many risk factors that are responsible for high rates like your driving record and a substandard credit score can be rectified by making lifestyle changes or driving safer.
  • Second, compare price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from one company like Progressive or Farmers Insurance, while independent agents can quote prices from multiple insurance companies.
  • Third, compare the new rate quotes to the price on your current policy and see if you can save money. If you find a better price and switch companies, make sure there is no lapse in coverage.

An important note is that you use identical deductibles and limits on every quote and and to get price estimates from as many companies as you can. This provides an apples-to-apples comparison and a thorough price selection.

Having so many insurance providers from which to choose, it can be impossible to choose the most cost effective car insurance provider.

It's a good idea to get comparison quotes at least once a year since insurance prices are constantly changing. Even if you think you had the lowest quotes on Mazda 3 insurance in Madison a year ago you will most likely find a better rate today. There is lot of inaccurate information about 3 insurance on the web, but in a few minutes you can learn the easiest ways to slash your car insurance rates in Madison.

Best companies for Mazda 3 insurance

The providers in the list below are ready to provide quotes in Wisconsin. If multiple companies are listed, we recommend you visit as many as you can in order to find the most affordable rates.

Rate information and statistics

The coverage table shown below highlights different prices for Mazda 3 models. Being more informed about how auto insurance premiums are formulated can aid in making informed decisions when comparing rate quotes.

Mazda 3 Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
3 I Sport 4-Dr Sedan $170 $350 $260 $16 $78 $874 $73
3 I SV 4-Dr Sedan $170 $350 $260 $16 $78 $874 $73
3 I Touring 4-Dr Sedan $170 $412 $260 $16 $78 $936 $78
3 S Sport 4-Dr Hatchback $192 $412 $260 $16 $78 $958 $80
3 S Sport 4-Dr Sedan $192 $412 $260 $16 $78 $958 $80
3 S Grand Touring 4-Dr Hatchback $192 $412 $260 $16 $78 $958 $80
3 S Grand Touring 4-Dr Sedan $192 $412 $260 $16 $78 $958 $80
Get Your Own Custom Quote Go

Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Rate quotes do not factor in garaging location in Madison which can impact prices substantially.

Should you raise deductibles?

A question often asked by Madison drivers is how high or low should comp and collision deductibles be. The rates below outline the differences in price between high and low physical damage coverage deductibles. The first rate quote example uses a $250 physical damage coverage deductible and the second set of rates uses a $500 deductible.

Mazda 3 insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
3 I Sport 4-Dr Sedan $178 $300 $230 $14 $68 $815 $68
3 I SV 4-Dr Sedan $178 $300 $230 $14 $68 $815 $68
3 I Touring 4-Dr Sedan $178 $352 $230 $14 $68 $867 $72
3 S Sport 4-Dr Hatchback $200 $352 $230 $14 $68 $889 $74
3 S Sport 4-Dr Sedan $200 $352 $230 $14 $68 $889 $74
3 S Grand Touring 4-Dr Hatchback $200 $352 $230 $14 $68 $889 $74
3 S Grand Touring 4-Dr Sedan $200 $352 $230 $14 $68 $889 $74
Get Your Own Custom Quote Go
Mazda 3 insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
3 I Sport 4-Dr Sedan $144 $242 $230 $14 $68 $698 $58
3 I SV 4-Dr Sedan $144 $242 $230 $14 $68 $698 $58
3 I Touring 4-Dr Sedan $144 $284 $230 $14 $68 $740 $62
3 S Sport 4-Dr Hatchback $164 $284 $230 $14 $68 $760 $63
3 S Sport 4-Dr Sedan $164 $284 $230 $14 $68 $760 $63
3 S Grand Touring 4-Dr Hatchback $164 $284 $230 $14 $68 $760 $63
3 S Grand Touring 4-Dr Sedan $164 $284 $230 $14 $68 $760 $63
Get Your Own Custom Quote Go

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Price information does not factor in specific Madison garaging location which can decrease or increase rates greatly.

We can estimate from the data above that using a $250 deductible will cost in the ballpark of $11 more each month or $132 a year than choosing the higher $500 deductible. Because you would pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you average more than 23 months between claims, you would come out ahead if you elect the higher deductible. The illustration below shows a better example of how you can make this decision for your own policy.

Average monthly premium for $250 deductibles: $72
Average monthly premium for $500 deductibles (subtract): - $61
Monthly savings from raising deductible: $11
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $11
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

One important issue to know is that a higher deductible means you will have to cover more of the damage yourself when you have a claim. It will be required that you have enough disposable income in order to pay the deductible to have repairs made.

Rate comparison of full coverage and liability-only

The illustration below compares Mazda 3 insurance prices with full physical damage coverage and with liability coverage only. Data assumes no tickets, no at-fault accidents, $500 deductibles, single marital status, and no discounts are taken into consideration.

Are you wasting money paying for full coverage?

There is no set guideline for excluding physical damage coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let's pretend your Mazda 3 book value is $9,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $8,000 after paying the physical damage deductible. If it's costing you more than $800 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.

There are some situations where buying only liability insurance is not in your best interest. If you haven't paid off your loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not remove full coverage.

Verify you're applying every discount

Companies that sell car insurance don't always list every discount they offer in a way that's easy to find, so we took the time to find some of the best known as well as the least known credits that may apply to you.Save money with discounts

  • Discounts for Seat Belt Usage - Drivers who require all vehicle occupants to fasten their seat belts can save up to 15% on the medical payments or PIP coverage costs.
  • Save with a New Car - Buying a new car instead of a used 3 can get you a discount since newer models have better safety ratings.
  • Early Payment Discounts - If you pay your entire premium ahead of time instead of monthly or quarterly installments you can actually save on your bill.
  • Passive Restraints and Air Bags - Cars that have air bags or automatic seat belts can get savings as much as 30%.
  • Student Driver Training - Require your teen driver to complete a driver education course in school or through a local driver safety program.
  • Multi-line Discount - Not every insurance company offers life insurance, but if they do you may earn better insurance rates if you take out a life policy as well.
  • Onboard Data Collection - Insureds that choose to allow data collection to monitor driving habits by installing a telematics device like In-Drive from State Farm and Progressive's Snapshot might get better premium rates if their driving habits are good.

You should keep in mind that most of the big mark downs will not be given to your bottom line cost. The majority will only reduce individual premiums such as liability, collision or medical payments. So when the math indicates it's possible to get free car insurance, it just doesn't work that way.

The chart below illustrates the comparison of Mazda 3 insurance prices with and without discounts applied to the premium. The premium estimates are based on a male driver, no accidents, no driving violations, Wisconsin state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, multi-car, multi-policy, marriage, and claim-free discounts applied.

To locate companies who offer free Mazda 3 insurance quotes in Madison, click here.

How Insurance Providers Calculate Mazda 3 Insurance Premiums

Consumers need to have an understanding of some of the factors that help calculate your auto insurance rates. If you have a feel for what influences your rates, this helps enable you to make changes that could help you find better auto insurance rates.

  • Higher comp and collision deductibles save money - Physical damage deductibles represent how much money you are required to spend out-of-pocket before your auto insurance pays a claim. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. Examples of some claims that would be covered are a windshield broken by a bird, hail damage, and damage caused by road hazards. The larger the amount you have to pay, the bigger discount you will receive.
  • Females tend to be lower risk - Statistics show females are less aggressive when driving. However, this does not mean men are WORSE drivers than women. Males and females have accidents at about the same rate, but the males get into accidents with more damage. In addition to higher claims, males also have more aggressive citations like driving under the influence (DUI). Youthful male drivers tend to get in the most accidents and therefore pay the highest rates.

    The information below shows the comparison of Mazda 3 insurance costs for male and female drivers. The price estimates are based on no claims, a clean driving record, comprehensive and collision coverage, $1,000 deductibles, drivers are not married, and no discounts are applied.

  • Insurance prices and vehicle performance - The performance level of the car or truck you need insurance for makes a big difference in your car insurance bill. The most favorable rates tend to be for smaller low performance passenger cars, but the final cost of insurance is determined by many other factors.

    The data below uses these assumptions: single female driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It compares Mazda 3 rates compared to other makes and models that have different performance rating factors.

  • Your career may increase prices - Do you work in a high-stress field? Occupations such as military generals, business owners, and stock brokers generally pay higher premiums than the average policyholder in part from high stress and extremely grueling work hours. Conversely, careers like actors, students and retirees have lower than average premiums.
  • Driving citations inflate rates - A bad driving record impacts your car insurance rates tremendously. Drivers with clean records get better prices than bad drivers. Having a single citation can increase rates by as much as twenty percent. Drivers who have multiple citations such as reckless driving, hit and run or driving under the influence might be required by their state to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to legally drive a vehicle.

    The illustration below illustrates how traffic citations and accidents can influence Mazda 3 car insurance costs for each age group. The rates are based on a married male driver, full physical damage coverage, $250 deductibles, and no discounts are applied to the premium.

  • Rate your vehicle for proper use - The more you drive your Mazda in a year the higher your rates will be. A lot of companies rate vehicles based upon how you use the vehicle. Cars left parked in the garage get more affordable rates than vehicles that are driven to work every day. An incorrectly rated 3 can result in significantly higher rates. Make sure your declarations sheet shows how each vehicle is driven.
  • Incidental coverages can cost a lot - There are quite a few additional coverages you can purchase if you aren't careful. Insurance for personal injury protection, towing, and Farm Bureau memberships could be just wasting money. They may seem like a good idea when you first buy your policy, but if you have no use for them think about removing them and cutting costs.
  • Insurance loss data for Mazda 3 vehicles - Insurance companies factor in insurance loss information to help calculate premium costs. Vehicles that the data shows to have increased losses will have higher rates. The information below illustrates the compiled insurance loss statistics for Mazda 3 vehicles.

    For each coverage type, the loss probability for all vehicles combined as an average is set at 100. Percentages below 100 are indicative of better than average losses, while values over 100 indicate frequent claims or an increased probability of a larger loss.

    Car Insurance Loss Data for Mazda 3 Models
    Specific Mazda Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Mazda 3 99 104 96 106 110 103
    Mazda 3 Hatchback 91 80 96 81 73 86
    BETTER
    AVERAGE
    WORSE

    Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Don't assume everyone needs the same insurance coverage

Always remember that when buying your policy for your vehicles, there isn't really a one-size-fits-all type of policy. Every insured's situation is different.Insurance savings

For instance, these questions may help highlight if you might need an agent's assistance.

  • How much liability do I need to cover my assets?
  • Should I bundle my homeowners policy with my auto?
  • Should I waive the damage coverage when renting a car?
  • Where can I find high-risk insurance?
  • Am I getting all the discounts available?
  • Is my son or daughter covered when driving my car?
  • Should I sign the liability waiver when renting a car?

If it's difficult to answer those questions, you may need to chat with an agent. To find lower rates from a local agent, take a second and complete this form. It's fast, free and you can get the answers you need.

Auto insurance quotes from local neighborhood Madison car insurance agents

A small number of people just prefer to buy from a licensed agent and that is just fine! Professional agents can answer important questions and help submit paperwork. One of the great benefits of getting online price quotes is you can get the best rates and still have a local agent. And supporting local agents is definitely important in Madison.

Insurance agency in MadisonFor easy comparison, once you complete this form (opens in new window), your coverage information gets sent to local insurance agents in Madison who will give you quotes for your auto insurance coverage. There is no need to search for any insurance agencies because quoted prices will be sent instantly to you. If you wish to quote rates from a specific auto insurance provider, feel free to navigate to their website and fill out their quote form.

Choosing the best insurer requires more thought than just the quoted price. Any good agent in Madison should know the answers to these questions.

  • What companies can they write with?
  • Which company do they place the most coverage with?
  • Does the agent recommend any additional coverage?
  • If they are an independent agency in Madison, which companies do they recommend?
  • Are there any discounts for paying up front?
  • Is vehicle damage repaired with OEM or aftermarket parts?
  • Does the company allow you to choose your own collision repair facility?
  • How long have they worked with personal auto insurance coverage?

You can find cheaper coverage

In this article, we covered some good ideas how to save on Mazda 3 insurance in Madison. The key thing to remember is the more you quote Madison auto insurance, the better likelihood of getting cheaper Madison auto insurance quotes. Consumers may even find the lowest priced car insurance comes from an unexpected company.

Consumers switch companies for a number of reasons such as questionable increases in premium, extreme rates for teen drivers, policy cancellation and even not issuing a premium refund. Regardless of your reason, finding a new company can be less work than you think.

Cost effective Mazda 3 insurance is possible on the web in addition to local insurance agencies, and you need to price shop both to have the best selection. A few companies may not offer the ability to get quotes online and usually these small insurance companies work with local independent agents.

How to find lower priced Mazda 3 insurance in Madison

To save the most money, the best way to get low-cost car insurance rates is to start comparing rates regularly from insurance carriers who sell insurance in Madison. Rate comparisons can be done by completing these steps.

  1. Read about policy coverages and the factors you can control to keep rates in check. Many rating factors that result in higher rates such as distracted driving and your credit history can be remedied by making small lifestyle or driving habit changes.
  2. Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like Progressive or Farmers Insurance, while agents who are independent can provide rate quotes from many different companies.
  3. Compare the new quotes to your existing rates to see if a cheaper price is available in Madison. If you find a lower rate, make sure coverage is continuous and does not lapse.
  4. Tell your current agent or company of your intent to cancel the current policy and submit the signed application along with the required initial payment to the new company. As soon as you have the new policy, put the proof of insurance certificate with your registration paperwork.

A crucial key to this process is to make sure you enter identical coverage information on each price quote and and to get price estimates from all possible companies. Doing this helps ensure a fair rate comparison and a thorough selection of prices.

Helpful articles