Mazda 5 Insurance Rate Quotes in Charlotte

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Insurance quote for Mazda 5 in CharlotteTrying to find the cheapest insurance for a Mazda 5 in North Carolina can be difficult, but you can learn the following methods to save time.

There are both good and bad ways to shop for auto insurance and you need to know the quickest way to price shop coverage on a Mazda and get the cheapest rates either online or from Charlotte insurance agents.

Cutting your insurance rates is actually easier than you may think. The only requirement is to take time comparing price quotes from online providers.

The companies in the list below provide free quotes in North Carolina. To get cheap car insurance in NC, we suggest you visit several of them to find the most competitive auto insurance rates.

Lower rate quotes by taking advantage of discounts

The cost of insuring your cars can be expensive, but you can get discounts that you may not even be aware of. Some discounts apply automatically at the time you complete a quote, but some must be asked for before you will receive the discount.Discount insurance

  • Anti-lock Brake Discount - Cars, trucks, and SUVs that have steering control and anti-lock brakes can avoid accidents and earn discounts up to 10%.
  • Driver's Ed - Have your child participate in a local driver's education class as it will make them better drivers and lower rates.
  • Defensive Driver Discount - Completing a driver safety course could earn you a small percentage discount if you qualify.
  • Air Bag Discount - Vehicles with factory air bags may qualify for discounts of more than 20%.
  • Good Grades Discount - Excelling in school can save 20 to 25%. Most companies allow this discount until age 25.
  • Telematics Devices - Insureds who allow driving data collection to look at driving patterns by using a telematics device such as Snapshot from Progressive or Drivewise from Allstate could possibly reduce rates as long as the data is positive.

Don't be shocked that most credits do not apply to the whole policy. The majority will only reduce individual premiums such as comp or med pay. Despite the fact that it seems like it's possible to get free car insurance, companies wouldn't make money that way.

The example below compares Mazda 5 auto insurance rates with and without discounts applied to the premium. The premium estimates are based on a female driver, no violations or accidents, North Carolina state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, multi-car, homeowner, safe-driver, and claim-free discounts applied.

Some of the insurance companies that may have these money-saving discounts possibly include:

If you need affordable Charlotte car insurance quotes, ask all the companies which discounts can lower your rates. Some discounts might not be offered in your area. To view insurers who offer insurance discounts in Charlotte, click this link.

Coverage statistics and figures

The table shown next showcases different insurance rates for Mazda 5 models. Having a better idea how car insurance premiums are formulated can be useful when making decisions on which coverage to buy.

Mazda 5 Insurance Rates in Charlotte, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $100 $190 $276 $16 $82 $664 $55
5 Touring Station Wagon $114 $230 $276 $16 $82 $718 $60
5 Grand Touring Station Wagon $114 $230 $276 $16 $82 $718 $60
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Prices above based on single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Premium amounts do not factor in specific garaging location which can revise auto insurance rates significantly.

How high should deductibles be?

When comparing auto insurance rates, the most common question is the level to set your comp and collision deductibles. The data tables below determine the price difference between low and high physical damage deductibles. The first table uses a $100 deductible for physical damage and the second data table uses a $1,000 deductible.

Mazda 5 insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $186 $318 $212 $12 $64 $817 $68
5 Touring Station Wagon $214 $386 $212 $12 $64 $913 $76
5 Grand Touring Station Wagon $214 $386 $212 $12 $64 $913 $76
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Mazda 5 insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $104 $168 $212 $12 $64 $560 $47
5 Touring Station Wagon $118 $204 $212 $12 $64 $610 $51
5 Grand Touring Station Wagon $118 $204 $212 $12 $64 $610 $51
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Price information does not factor in Charlotte location which can affect prices considerably.

Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you approximately $23 more each month or $276 every year across all Mazda 5 models than quoting the higher $1,000 deductible. Since you would pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have at least 39 months between claims, you would probably save some money going with the higher deductible.

How to determine if raising deductibles makes sense

Average monthly premium for $100 deductibles: $73
Average monthly premium for $1,000 deductibles (subtract): - $50
Monthly savings from raising deductible: $23
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $23
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 39 months

One thing to note is that higher deductibles results in a higher out-of-pocket expense when you have a claim. That will require enough disposable income in the event you need to pay the higher deductible.

Mazda 5 annual premiums for males versus females

The illustration below illustrates the difference between Mazda 5 insurance prices for male and female drivers. The prices are based on no violations or claims, full physical damage coverage, $1,000 deductibles, marital status is single, and no additional discounts are factored in.

Components of Your Mazda 5 Insurance Rates

Many factors are considered when you get your auto insurance bill. Most are fairly basic like your driving record, although others are more transparent like your continuous coverage or your financial responsibility. An important part of buying insurance is that you know the different types of things that help calculate the level of your policy premiums. When consumers understand what controls the rates you pay, this allows you to make good choices that will entitle you to cheaper rates.

Listed below are some of the major factors companies use to determine your rates.

Vehicles with better crash test results means cheaper premiums - Safe vehicles tend to have better insurance rates. Highly rated vehicles help reduce the chance of injuries in an accident and fewer injuries translates directly to fewer claims which can result in lower premiums.

Credit rating impact insurance costs - A driver's credit rating can be a huge factor in determining what you pay for insurance. Insureds with very high credit ratings tend to be better risks to insure than drivers who have lower credit scores. If your credit history leaves room for improvement, you could potentially save money when insuring your Mazda 5 by spending a little time repairing your credit.

Use but don't abuse your insurance - Companies in North Carolina give the best rates to policyholders who do not rely on their insurance for small claims. If you file a lot of claims you can pretty much guarantee either higher rates or even cancellation. Your insurance policy is intended to be relied upon for claims that pose a financial burden.

Discounts for married drivers - Having a spouse may save some money on your insurance policy. It is viewed as being more mature and it's proven that married couples file fewer claims.

Drive a fast vehicle and pay more - The make and model of the car or truck you need insurance for makes a substantial difference in your car insurance bill. Lower performance four cylinder passenger cars normally have pretty low rates, but many other things help determine your insurance rates.

The data below assumes a single male driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It shows Mazda 5 insurance premiums compared to other vehicles that have different risk factors.

Where you live - Having an address in less populated areas of the country is a good thing when shopping for auto insurance. People in densely populated areas tend to have congested traffic and more time behind the wheel. Less people living in that area means a lower chance of having an accident in addition to lower liability claims.

Is your vehicle theft-ready? - Selecting a car model with anti-theft technology or alarm system can help lower your premiums. Advanced theft deterrents such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all hinder vehicle theft.

Mazda 5 claim statistics - Insurers use historical loss data as a way to help calculate a profitable premium price. Vehicles that have a trend towards higher claim severity or frequency will have a higher cost to insure. The next table shows the insurance loss data for Mazda 5 vehicles.

For each policy coverage, the claim probability for all vehicles averaged together is equal to 100. Values below 100 indicate a favorable loss history, while values over 100 indicate more frequent losses or larger claims.

Auto Insurance Loss Data for Mazda 5 Models
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Mazda 5 86 86 73 103 95 91
BETTER
AVERAGE
WORSE

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