Cheap Insurance for a Mazda MX-5 Miata in Madison

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It's safe to assume that car insurance companies don't want their customers to go rate shopping. Consumers who shop around for cheaper price quotes are inclined to switch companies because they have a good chance of finding a lower-priced company. A study showed that consumers who compared prices once a year saved about $3,450 over four years compared to people who don't make a habit of comparing rates.

If saving the most money on car insurance is the reason for your visit, then learning a little about the best way to compare coverage rates can help make the process easier.

Insurance quote for Mazda MX-5 Miata in MadisonIf you want to save the most money, the best way to find the cheapest price for car insurance rates is to compare prices at least once a year from companies who provide car insurance in Madison. You can compare rates by completing these steps.

  1. Gain an understanding of the coverage provided by your policy and the changes you can make to prevent high rates. Many factors that increase rates such as traffic tickets, fender benders, and a poor credit rating can be remedied by improving your driving habits or financial responsibility. Continue reading for more ideas to prevent high prices and earn larger discounts.
  2. Obtain price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give prices from a single company like GEICO or State Farm, while independent agents can provide prices for a wide range of insurance providers.
  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 and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
  4. Tell your current company to cancel your existing policy. Submit any necessary down payment along with the completed application to your new insurance company. Immediately keep your new certificate verifying coverage somewhere easily accessible.

A key point to remember is to make sure you enter identical limits and deductibles on every quote and and to compare as many companies as you can. Doing this guarantees the most accurate price comparison and plenty of rates choose from.

All major car insurance companies like 21st Century, Allstate and State Farm provide pricing from their websites. Getting quotes for Mazda MX-5 Miata insurance in Madison doesn't take a lot of time as you simply type in the amount of coverage you want as requested by the quote form. Once you submit the form, their rating system sends out for information on your driving record and credit history and returns a price determined by many factors. This streamlines rate comparisons, and it's very important to perform this step if you are searching for the cheapest price possible.

To find out if lower rates are available, check out the car insurance providers below. To compare your current rates, we recommend you enter the coverages identical to your current policy. This guarantees you will get comparison quotes for exact coverage.

The companies in the list below provide free quotes in Wisconsin. If your goal is to find cheaper car insurance in Madison, it's a good idea that you visit several of them in order to get a fair rate comparison.

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

Companies don't always advertise all available discounts very well, so the list below contains both well-publicized as well as the least known credits that may apply to you.Auto insurance discounts

  • Student Discount for Driver Training - Cut your cost by having your teen driver enroll in driver's education if offered at their school.
  • Theft Prevention Discount - Vehicles that have factory alarm systems and tracking devices help deter theft and will qualify for a discount on a Madison auto insurance quote.
  • Senior Citizens - Seniors may be able to get a slight reduction on a Madison auto insurance quote.
  • Active Service Discounts - Having a deployed family member could qualify you for better auto insurance rates.
  • Multiple Vehicles - Insuring multiple cars or trucks with the same auto insurance company can get a discount on all vehicles.
  • Madison Homeowners Pay Less - Just owning your own home can get you a discount since home ownership requires a higher level of personal finance.

While discounts sound great, it's important to understand that most of the big mark downs will not be given to the overall cost of the policy. Some only apply to the price of certain insurance coverages like collision or personal injury protection. So even though they make it sound like you would end up receiving a 100% discount, it doesn't quite work that way.

The information below compares Mazda MX-5 Miata car insurance rates with and without discounts applied to the policy premium. The costs are based on a female driver, no violations or claims, Wisconsin 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 claim-free, safe-driver, marriage, homeowner, multi-policy, and multi-car discounts applied.

A list of companies and some of their more popular discounts are detailed below.

  • State Farm may include discounts for multiple policy, Drive Safe & Save, safe vehicle, multiple autos, good driver, Steer Clear safe driver discount, and driver's education.
  • GEICO includes discounts for five-year accident-free, multi-policy, emergency military deployment, anti-lock brakes, air bags, membership and employees, and anti-theft.
  • Progressive has discounts for homeowner, online signing, online quote discount, continuous coverage, good student, and multi-policy.
  • 21st Century offers premium reductions for early bird, homeowners, driver training, student driver, defensive driver, 55 and older, and air bags.
  • American Family offers discounts including bundled insurance, mySafetyValet, early bird, defensive driver, good driver, and multi-vehicle.
  • The Hartford has savings for bundle, good student, defensive driver, vehicle fuel type, air bag, anti-theft, and driver training.
  • AAA offers discounts for pay-in-full, AAA membership discount, anti-theft, education and occupation, and good student.

When getting free Madison auto insurance quotes, it's a good idea to each company or agent how you can save money. Some credits may not be available in your area. To choose companies who offer discounts in Madison, click here.

Rates and information analytics

The coverage information shown next highlights estimates of insurance costs for Mazda MX-5 Miata models. Learning more about how insurance premiums are established can benefit drivers when making informed purchases.

Mazda MX-5 Miata Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MX-5 Miata Sport 2-Dr Convertible $140 $244 $264 $16 $78 $742 $62
MX-5 Miata Touring 2-Dr Convertible $160 $298 $264 $16 $78 $816 $68
MX-5 Miata Grand Touring 2-Dr Convertible $160 $298 $264 $16 $78 $816 $68
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Table data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Price estimates do not factor in specific garaging location which can revise coverage prices greatly.

Comparison of policy deductibles

One of the most common auto insurance questions is where to set your physical damage deductibles. The following tables can help illustrate the differences in premium rates between high and low policy deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second pricing table uses a $500 deductible.

Mazda MX-5 Miata insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MX-5 Miata Sport 2-Dr Convertible $154 $246 $196 $12 $58 $691 $58
MX-5 Miata Touring 2-Dr Convertible $178 $300 $196 $12 $58 $769 $64
MX-5 Miata Grand Touring 2-Dr Convertible $178 $300 $196 $12 $58 $769 $64
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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 $126 $198 $196 $12 $58 $590 $49
MX-5 Miata Touring 2-Dr Convertible $144 $242 $196 $12 $58 $652 $54
MX-5 Miata Grand Touring 2-Dr Convertible $144 $242 $196 $12 $58 $652 $54
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Rate quotes do not factor in the specific area where the vehicle is garaged which can influence insurance rates substantially.

Using the data above, we can ascertain that using a $250 deductible costs about $10 more each month or $120 for a full year averaged for all MX-5 Miata models than choosing the higher $500 deductible. Since you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you have at a minimum 25 months between claims, you would more than likely save some money if you choose the higher deductible. The table below shows an example of how you can make this decision for your own policy.

Average monthly premium for $250 deductibles: $62
Average monthly premium for $500 deductibles (subtract): - $52
Monthly savings from raising deductible: $10
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $10
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 25 months

The example below shows how different deductible levels and can affect Mazda MX-5 Miata premium costs for different insured age categories. The data is based on a single male driver, comp and collision included, and no discounts are factored in.

Illustration showing the impact of accidents and violations

The chart below illustrates how speeding tickets and at-fault accidents raise Mazda MX-5 Miata yearly insurance costs for each age group. The premium estimates are based on a single female driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.

How Insurance Providers Calculate Mazda MX-5 Miata Insurance Prices

An important part of buying insurance is that you know the rating factors that help calculate your insurance rates. If you have some idea of what impacts premium levels, this allows you to make good choices that can help you get much lower annual insurance costs. Many different elements are taken into consideration when quoting car insurance. Most are fairly basic such as your driving history, but some are less apparent like your continuous coverage and annual miles driven.

Higher comp and collision deductibles reduce premiums - The deductibles tell how much you are required to spend before your insurance pays a claim. Coverage for physical damage, also known as collision and other-than-collision, protects your car from damage. Some coverage claims could be colliding with a stationary object, collision with a deer, or theft of your vehicle. The larger the amount the insured is willing to pay, the bigger discount you will receive.

Save money by having excellent credit - An insured's credit score factor in calculating your premium rate. So if your credit history is lower than you'd like, you could be paying less to insure your Mazda MX-5 Miata by repairing your credit. People that have excellent credit tend to file fewer claims than drivers who have lower credit ratings.

File policy claims and pay more - If you tend to file frequent claims, you shouldn't be surprised to get higher premiums or even policy non-renewal. Auto insurance companies in Wisconsin give cheaper rates to people who only file infrequent claims. Your car insurance is meant to be used in the event of claims that pose a financial burden.

Drive less and save - The higher the mileage driven every year the more you will pay for insurance. Most companies charge rates based on how the vehicle is used. Vehicles that do not get driven very much cost less to insure than those used for commuting. Ask your agent if your declarations sheet is rated on annual mileage, because it can save money. Having the wrong rating on your MX-5 Miata is just wasting money.

The type of car, truck or SUV you drive affects your premiums - The make and model of the vehicle you need to insure makes a huge difference in determining your rates. The cheapest rates tend to be for the lowest performance passenger cars, but the cost you end up paying is determined by many additional factors.

The following data uses these variables: single female driver age 30, full coverage with $250 deductibles, and no discounts or violations. It shows Mazda MX-5 Miata rates compared to other models of vehicles that have different performance rating factors.

Protect yourself with liability insurance - Your policy's liability coverage is the coverage that protects you if ever you are determined to be liable for physical damage or personal injury to other. It provides for a legal defense up to the limits shown on your policy. This coverage is very inexpensive compared to insuring for physical damage coverage, so do not cut corners here.

Mazda MX-5 Miata historical loss data - Insurers use data from past claims to calculate a price that offsets possible losses. Models that the data shows to have increased losses will cost more for specific coverages. The information below illustrates the historical insurance loss data for Mazda MX-5 Miata vehicles.

For each policy coverage, the statistical loss for all vehicles, as an average, equals 100. Percentage numbers below 100 indicate better than average losses, while values over 100 point to more claims or a tendency for claims to be larger.

Mazda MX-5 Miata Insurance Claim Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Mazda MX-5 Miata Convertible 76 61 74 72
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Compare prices but work with a neighborhood Madison auto insurance agent

Some people still prefer to talk to an insurance agent and that can be a smart move One of the best bonuses of price shopping on the web is that drivers can save money and get better rates and still have an agent to talk to. And supporting local agents is still important in Madison.

Find insurance agent in MadisonFor easy comparison, once you complete this simple form, the coverage information is submitted to local insurance agents that provide free Madison auto insurance quotes to get your business. It makes it easy because there is no need to leave your house due to the fact that quote results will go to you instantly. Get lower rates without the usual hassles of price shopping. If you need to get a price quote from one company in particular, you can always find their quoting web page and give them your coverage information.

If you need to find a reputable agency, you must know there are a couple different agency structures to choose from. Agents may be either exclusive agents or independent agents.

Independent Insurance Agencies or Brokers

Agents in the independent channel often have affiliation with several companies and that allows them to write policies with lots of companies and find the cheapest insurance rates. If your agent finds better pricing, an independent agent can move your coverage and that require little work on your part. If you need cheaper insurance rates, we highly recommend that you get some free quotes from at least one independent agent in order to have the best price comparison.

Shown below is a partial list of independent agencies in Madison who may provide price quote information.


6709 Raymond Rd - Madison, WI 53719 - (608) 216-7060 - View Map


525 Junction Rd #2000 - Madison, WI 53717 - (608) 203-3880 - View Map


6666 Odana Rd - Madison, WI 53719 - (608) 467-6804 - View Map

More Madison agents

Exclusive Insurance Agents

These agents normally can only provide a single company's rates and some examples include Farmers Insurance, State Farm, Allstate, and AAA. They usually cannot compare other company's rates so always compare other rates. These agents are well trained on their company's products and that can be a competitive advantage.

Shown below is a short list of exclusive agents in Madison that can give you price quotes.


3821 Nakoma Rd - Madison, WI 53711 - (608) 231-2453 - View Map


425 Grand Canyon Dr - Madison, WI 53719 - (608) 833-9000 - View Map


4706 Cottage Grove Rd Ste 300 - Madison, WI 53716 - (608) 222-2411 - View Map

More Madison agents

Picking an insurance agent should depend on more than just the quoted price. Any agent in Madison should be forthright in answering these questions:

  • If you raise deductibles, how much can you save?
  • Do you qualify for any additional discounts?
  • In the event of vehicle damage, can you pick the collision repair facility?
  • Are there any hidden costs in their price quote and does it include driving and credit history?
  • Can they give you a list of client referrals?
  • Will you work with the agent or an assistant?
  • Are all drivers listed on the coverage quote?

Once you have good feedback to all your questions and locked in a price quote, you may have found a car insurance agent that meets the criteria to insure your vehicles. Just remember you can always terminate coverage whenever you wish so don't think you're contractually obligated to a policy for the full term.

Different people need different insurance coverages

Keep in mind that when it comes to choosing adequate coverage for your vehicles, there really isn't a "best" method to buy coverage. Every situation is different and your insurance should unique, too.Insurance savings For example, these questions could help you determine whether your personal situation might need professional guidance.

  • What if an uninsured driver hits me?
  • Should I carry comprehensive and collision coverage?
  • Are my friends covered when driving my car?
  • Does my insurance cover my expensive audio equipment?
  • What does medical payments cover?
  • What is the rate difference between pleasure use and commuting?
  • What are the liability requirements in my state?

If you don't know the answers to these questions, you may need to chat with a licensed agent. To find an agent in your area, simply complete this short form or you can also visit this page to select a carrier

Ratings for Madison auto insurance companies

Buying coverage from a high-quality company can be challenging considering how many companies are available to choose from in Wisconsin. The information shown next can help you decide which auto insurance companies you want to consider purchasing coverage from.

Top Auto Insurance Companies in Wisconsin
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 99 100 90 92% A++ 97.4
21st Century 89 86 100 88% A 92.7
GEICO 97 91 88 85% A++ 92.5
Nationwide 88 94 91 88% A+ 91.3
AAA Insurance 93 87 88 87% A 90.8
Liberty Mutual 91 91 92 87% A 90.7
Safeco Insurance 90 93 88 86% A 90.2
State Farm 91 94 80 88% A++ 90.2
Travelers 89 91 94 79% A++ 90.1
American Family 88 92 83 88% A 89.4
Allstate 90 90 84 85% A+ 89.1
Progressive 83 85 99 87% A+ 88.7
Erie Insurance 92 90 82 88% A+ 88.5
The Hartford 87 89 84 87% A+ 88
Esurance 84 88 85 83% A+ 86
Farmers Insurance 79 88 84 87% A 84.7
The General 88 80 85 80% A- 84.5
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Data Source: Insure.com Best Car Insurance Companies

Quote more and you will save more

While you're price shopping online, you should never buy lower coverage limits just to save a few bucks. In many instances, an insured dropped collision coverage only to discover later they didn't purchase enough coverage. Your goal is to purchase plenty of coverage at an affordable rate, but do not skimp to save money.

There are still a few companies who don't offer price quotes online and these small insurance companies provide coverage only through independent insurance agents. Budget-friendly car insurance in Madison is attainable on the web in addition to many Madison insurance agents, and you should be comparing both to have the best chance of lowering rates.

You just read a lot of techniques to shop for Mazda MX-5 Miata insurance online. It's most important to understand that the more quotes you get, the more likely it is that you will get a better rate. Consumers may even find the best price on car insurance is with the smaller companies. These companies can often provide lower rates in certain areas than their larger competitors like Progressive or GEICO.

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