Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent Benji Carr

UPDATED: Oct 5, 2015

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Want better auto insurance rates for your Mazda MX-5 Miata? Paying for expensive Mazda MX-5 Miata insurance can sap your savings and make it hard to pay other bills. Price shopping at each renewal is a fast and free way to make sure you’re not throwing money away.

Many car insurance companies compete for your hard-earned dollar, and because of this it can be hard to compare insurance companies to find the absolute best price available.

It’s smart to do rate comparisons before your next renewal because auto insurance rates go up and down regularly. Just because you had the best deal on MX-5 Miata insurance a few years ago there may be better deals available now. You’ll find a ton of advice on auto insurance online, but in a few minutes you can learn the easiest ways to buy auto insurance cheaper.

Discounts for cheaper insurance coverage rates

Car insurance companies don’t always publicize every available discount in an easy-to-find place, so the list below details some of the more common in addition to some of the lesser obvious discounts you could be receiving when you buy insurance online.

  • Discounts for Federal Employees – Being employed by or retired from a federal job could provide a small rate reduction on MX-5 Miata insurance with some insurance coverage companies.
  • Student Discounts – Maintaining excellent grades could provide a savings of up to 20% or more. You can use this discount normally well after school through age 25.
  • Accident Waiver – but a few companies such as Liberty Mutual, Allstate and State Farm may permit one accident without raising rates if your claims history is clear for a specific time period.
  • Drive Safe and Save – Drivers without accidents may save up to 50% more on MX-5 Miata insurance compared to rates paid by drivers with frequent claims.
  • Data Collection Discounts – People who choose to allow companies to look at when and where they use their vehicle by installing a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system might get better premium rates as long as they are good drivers.
  • Savings for New Vehicles – Buying a new car model can cost up to 25% less because new vehicles have to meet stringent safety requirements.
  • No Accidents – Insureds with no claims or accidents are rewarded with significantly better rates on insurance quote as compared to accident-prone drivers.
  • College Student Discount – Older children living away from home attending college and won’t have access to an insured vehicle could get you a discount.
  • Military Rewards – Having a deployed family member may lower your prices slightly.

Drivers should understand that most discount credits are not given to your bottom line cost. Most only reduce individual premiums such as physical damage coverage or medical payments. If you do the math and it seems like all those discounts means the company will pay you, it’s just not the way it works.

A list of companies and their possible discounts are outlined below.

  • Farmers Insurance offers discounts including homeowner, youthful driver, distant student, mature driver, and teen driver.
  • State Farm may include discounts for driver’s education, safe vehicle, good driver, student away at school, and Steer Clear safe driver discount.
  • Liberty Mutual may have discounts that include preferred payment discount, newly retired, newly married, new graduate, hybrid vehicle, exclusive group savings, and teen driver discount.
  • MetLife includes discounts for defensive driver, good student, accident-free, claim-free, multi-policy, and good driver.
  • Progressive has savings for continuous coverage, online signing, homeowner, multi-vehicle, and multi-policy.

If you want affordable insurance quotes, ask each company to give you their best rates. Discounts may not be available in your area. If you would like to choose from a list of companies with discount rates, follow this link.

The quickest method to get rate comparisons is to know auto insurance companies provide online access to compare rate quotes. To get started, all you need to do is provide information like how much coverage you want, how much education you have, whether you are married, and if you require a SR-22. Those rating factors is instantly provided to many of the top insurers and they return rate quotes instantly.

Enter your zip code below to view companies that have cheap auto insurance rates.

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Mazda MX-5 Miata insurance premium factors

Lots of things are part of the equation when you get your auto insurance bill. A few of the factors are predictable like an MVR report, but other criteria are less apparent such as your credit history or your vehicle rating.Consumers need to have an understanding of a few of the rating criteria that help calculate your premiums. When you understand what influences your rates, this allows you to make educated decisions that can help you get cheaper rates.

  • Extra policy coverages that aren’t used – Insurance companies have many extra coverages that can waste your money if you aren’t careful. Coverages for replacement cost coverage, death and dismemberment, and Farm Bureau memberships may be wasting your money. They may sound like good ideas at first, but your money might be better spent on other coverage so think about removing them and cutting costs.
  • File policy claims and pay more – If you are a frequent claim filer, you shouldn’t be surprised to get increased rates or even have your policy non-renewed. Car insurance companies provide lower rates to people who file claims infrequently. Auto insurance is intended to be relied upon for the large, substantial claims.
  • Being married can save on insurance – Your spouse helps lower the price when buying insurance. It may mean you are more stable financially and statistics show drivers who are married file infrequent claims.
  • Save by driving safer cars – Cars with five star safety ratings tend to have better insurance rates. Highly rated vehicles reduce the chance of injuries and better occupant protection translates into fewer and smaller insurance claims and cheaper rates on your policy. If your Mazda has at least four stars on it is probably cheaper to insure.
  • Your car’s features help determine insurance rates – Choosing to buy a car with a theft deterrent system can get you a discount on your insurance. Theft deterrent systems such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder auto theft.
  • Excellent credit means lower rates – Having a bad credit rating can be an important factor in your rate calculation. Therefore, if your credit is not that good, you could save money insuring your 2001 Mazda MX-5 Miata by spending a little time repairing your credit. People that have excellent credit scores tend to file fewer claims than drivers with lower credit scores.

Tailor your insurance coverage coverage to you

When buying proper insurance coverage, there is no single plan that fits everyone. Every insured’s situation is different and a cookie cutter policy won’t apply. For instance, these questions might point out whether your personal situation might need an agent’s assistance.

  • How can I get my company to pay me more for my totalled car?
  • Should I waive the damage coverage when renting a car?
  • Should I put collision coverage on all my vehicles?
  • What are the financial responsibility laws in my state?
  • Does my insurance cover my expensive audio equipment?
  • How can I force my company to pay a claim?
  • Will I be non-renewed for getting a DUI or other conviction?

If you can’t answer these questions but you know they apply to you, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and can provide invaluable advice.

Auto insurance advertising gotchas

Consumers can’t get away from all the ads that claim the lowest prices from companies such as Allstate, GEICO and Progressive. They all seem to have a common claim that you can save if you change your coverage.

How does every company give you a better price? It’s all in how they say it.

Most companies are able to cherry pick for the type of driver that will most likely be profitable. One example of a profitable risk profile could be between the ages of 30 and 50, has no tickets, and drives less than 7,500 miles a year. A driver that meets those criteria is entitled to the best price and will save a lot if they switch.

People who don’t measure up to these stringent criteria will have to pay a more expensive rate and the customer buying from someone else. Company advertisements say “customers that switch” but not “everyone who gets a quote” save money. That’s the way insurance companies can confidently make those statements. This really emphasizes why it is so important to do a quote comparison often. It is impossible to guess the company that will have the lowest rates.

Enter your zip code below to view companies that have cheap auto insurance rates.

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Parts of your auto insurance policy

Having a good grasp of a auto insurance policy can be of help when determining appropriate coverage and the correct deductibles and limits. Auto insurance terms can be ambiguous and coverage can change by endorsement. Below you’ll find typical coverage types found on the average auto insurance policy.

Liability car insurance

Liability coverage can cover damage that occurs to a person or their property by causing an accident. It protects YOU against other people’s claims. It does not cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 25/50/25 which stand for a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability insurance covers things such as loss of income, legal defense fees, medical services, repair bills for other people’s vehicles and funeral expenses. How much liability should you purchase? That is your choice, but consider buying higher limits if possible.

Medical payments and PIP coverage

Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for things like prosthetic devices, X-ray expenses, dental work and funeral costs. The coverages can be utilized in addition to your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Collision insurance

This coverage pays for damage to your MX-5 Miata from colliding with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims like hitting a mailbox, driving through your garage door and colliding with a tree. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to increase the deductible to bring the cost down.

Comprehensive auto coverage

This pays for damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers things like hitting a deer, rock chips in glass, falling objects and a broken windshield. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and damage to your Mazda MX-5 Miata.

Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked.

In the end, you save

Some companies do not provide online rate quotes and most of the time these smaller providers only sell coverage through independent insurance agencies. Affordable 2001 Mazda MX-5 Miata insurance can be purchased online as well as from insurance agents, so you should compare both to have the best selection.

When buying insurance coverage, it’s a bad idea to buy less coverage just to save a little money. There are many occasions where an insured dropped liability coverage limits and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. Your strategy should be to find the BEST coverage at the best cost.

We covered a lot of ways to get a better price on 2001 Mazda MX-5 Miata insurance. The key thing to remember is the more price quotes you have, the better chance you’ll have of finding affordable insurance. Consumers may even find the biggest savings come from the smaller companies. These smaller insurers can often insure niche markets at a lower cost than the large multi-state companies such as GEICO and State Farm.

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