Did you come to the realization that you have high-priced Mazda MX-5 Miata insurance in Charlotte? It’s a common feeling and many Charlotte consumers feel financially strained by their auto insurance policy.
It’s shocking but almost 70% of drivers have purchased from the same company for over three years, and practically 40% of auto insurance customers have never shopped around. Most drivers in North Carolina could save as much as $100 every year just by getting comparison quotes, but they don’t believe the amount of savings they would get if they switched to a more affordable policy.
How to buy lower priced Mazda MX-5 Miata insurance in Charlotte
If saving the most money is your goal, then the best way to find cheaper quotes for Mazda MX-5 Miata insurance is to regularly compare quotes from companies who provide car insurance in Charlotte.
- Try to comprehend car insurance and the steps you can take to prevent expensive coverage. Many policy risk factors that are responsible for high rates such as at-fault accidents, careless driving, and your credit history can be amended by making small lifestyle or driving habit changes.
- Quote rates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO or Allstate, while independent agents can provide prices from multiple insurance companies.
- Compare the new rate quotes to the price on your current policy to see if you can save by switching companies. If you find a lower rate, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Notify your current company to cancel your current coverage and submit a down payment along with a signed application for the new policy. Immediately keep your new proof of insurance certificate with your registration paperwork.
The most important part of shopping around is to try to compare similar limits and deductibles on every quote request and and to get quotes from as many different insurance providers as possible. Doing this guarantees an accurate price comparison and a thorough selection of prices.
Having so many options when it comes to auto insurance, it can be difficult for people to find the most affordable insurance company.
It’s a good idea to compare rates every six months due to the fact that insurance prices are usually higher with each renewal. Even if you got the best deal on Mazda MX-5 Miata insurance in Charlotte two years ago you will most likely find a better rate quote today. Forget all the misinformation about auto insurance because you’re going to get a crash course in one of the best ways to find better rates and still maintain coverage.
Best companies for Mazda MX-5 Miata insurance
The providers in the list below can provide free rate quotes in North Carolina. If your goal is to find cheaper auto insurance in North Carolina, we recommend you compare several of them to get the best price comparison.
Facts and figures for Mazda MX-5 Miata insurance
The coverage table displayed below highlights a range of insurance policy prices for Mazda MX-5 Miata models. Having a better understanding of how policy premiums are figured is important to be able to make smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $132 | $210 | $216 | $12 | $64 | $634 | $53 |
| MX-5 Miata Touring 2-Dr Convertible | $152 | $256 | $216 | $12 | $64 | $700 | $58 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $152 | $256 | $216 | $12 | $64 | $700 | $58 |
| Get Your Own Custom Quote Go | |||||||
Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Prices do not factor in specific location information which can lower or raise rates noticeably.
Where to set your deductibles
One frequently asked question is which deductibles should you choose. The following insurance rates help summarize the price difference between low and high physical damage coverage deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second set of prices uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $168 | $266 | $212 | $12 | $64 | $747 | $62 |
| MX-5 Miata Touring 2-Dr Convertible | $192 | $324 | $212 | $12 | $64 | $829 | $69 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $192 | $324 | $212 | $12 | $64 | $829 | $69 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $136 | $214 | $212 | $12 | $64 | $638 | $53 |
| MX-5 Miata Touring 2-Dr Convertible | $156 | $262 | $212 | $12 | $64 | $706 | $59 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $156 | $262 | $212 | $12 | $64 | $706 | $59 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Estimates do not factor in specific location information which can alter price quotes significantly.
Based on the figures above, using a $250 deductible costs an average of $10 more each month or $120 every year averaged for all MX-5 Miata models than buying the higher $500 deductible. Due to the fact that you would have to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to go at a minimum 25 months between claims, you would probably be better off if you decide on a higher deductible. The table below illustrates how you can make your own decision.
| Average monthly premium for $250 deductibles: | $67 |
| Average monthly premium for $500 deductibles (subtract): | – $57 |
| 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 |
One important issue to know is that raising deductibles means you will have to pay more of your own money when you do file a claim. That will require enough disposable income in the event you need to pay the deductible to have repairs made.
Impact of age and gender on auto insurance rates
The example below illustrates the difference between Mazda MX-5 Miata car insurance costs for male and female drivers. The premium estimates are based on no violations or claims, full coverage, $250 deductibles, drivers are single, and no discounts are applied to the premium.
Cost comparison with and without full coverage
The example below shows the comparison of Mazda MX-5 Miata insurance rates with full coverage and liability only. The data is based on a clean driving record, no claims, $100 deductibles, drivers are single, and no discounts are applied.
Guidelines for dropping full coverage
There is no exact rule for phasing out physical damage insurance, but there is a general school of thought. If the yearly cost of full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s assume your Mazda MX-5 Miata replacement cost is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, you would only receive $3,000 after paying your policy deductible. If you are paying more than $300 annually for comprehensive and collision coverage, then you might consider buying liability only.
There are a few cases where dropping full coverage is not a good idea. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not drop full coverage.
Get lower-cost rates on Mazda MX-5 Miata insurance in Charlotte with these auto insurance discounts
Companies that sell car insurance don’t always list every discount they offer in a way that’s easy to find, so below is a list some of the best known and the harder-to-find auto insurance savings. If you do not double check each discount available, it’s possible you qualify for a lower rate.
- Federal Employees – Active or former government employment could cut as much as 10% off depending on your auto insurance provider.
- Active Military Service – Having an actively deployed family member could qualify you for better rates.
- Bundled Policy Discount – If you can combine your auto and homeowners policy with the same insurance company you could save at least 10% off all policies.
- Discounts for Safe Drivers – Drivers who don’t get into accidents can pay as much as 50% less than drivers with accident claims.
- E-sign Discounts – A few larger online companies provide a small discount for completing your application on your computer.
- College Student – Any of your kids who live away from home at college and won’t have access to an insured vehicle may be insured at a cheaper rate.
Drivers should understand that most discounts do not apply to the whole policy. The majority will only reduce the cost of specific coverages such as comprehensive or collision. Even though the math looks like you would end up receiving a 100% discount, it’s just not the way it works.
The information below illustrates the comparison of Mazda MX-5 Miata insurance costs with and without discounts being applied to the rates. The rates are based on a male driver, no accidents or driving violations, North Carolina 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 multi-policy, claim-free, homeowner, multi-car, safe-driver, and marriage discounts applied.
Car insurance companies that possibly offer most of these discounts include:
Check with all the companies to give you their best rates. A few discounts might not be available to policyholders in Charlotte. To see a list of insurance companies that offer multiple discounts in Charlotte, click here to view.
Why You Might Pay Lower Rates in Charlotte
Many different elements are considered when premium rates are determined. Some are pretty understandable like an MVR report, although others are more obscure such as your credit history or how financially stable you are. Part of the auto insurance buying process is learning some of the elements that aid in calculating auto insurance rates. When consumers understand what determines base rates, this allows you to make educated decisions that can help you get big savings.
Theft deterrents lower auto insurance rates – Owning a car with a theft deterrent system can save you a little every year. Systems that thwart thieves such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems help track and prevent auto theft and help lower rates.
Frequent auto insurance claims will cost more – If you are a frequent claim filer, you can definitely plan on higher premiums or even policy non-renewal. Insurance companies in North Carolina award discounts to policyholders who do not rely on their insurance for small claims. Your insurance policy is intended to be relied upon for the large, substantial claims.
Don’t get traffic citations – Even a single moving violation could increase your next policy renewal substantially. Good drivers pay lower auto insurance prices compared to bad drivers. Drivers who get dangerous violations like hit and run, DWI or reckless driving convictions might be required by their state to prove financial responsibility with their state motor vehicle department in order to continue driving.
The example below highlights how speeding tickets and at-fault claims drive up Mazda MX-5 Miata insurance prices for each age group. The rate quotes are based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no additional discounts are factored in.
More stress means more cost – Do you work in a high-stress field? Jobs like judges, airline pilots, and stock brokers have higher rates than the rest of us in part from intense work requirements and incredibly demanding work hours. On the other hand, professions such as professors, engineers and the unemployed have the lowest average rates.
Mazda MX-5 Miata claim statistics – Companies include the past claim history for a vehicle as a tool for profitable underwriting. Models that have higher prevalence or dollar amount of losses will have a higher premium rate. The table below demonstrates the historical loss data for Mazda MX-5 Miata vehicles.
For each policy coverage type, the claim probability for all vehicles, regardless of make or model, is considered to be 100. Numbers shown that are under 100 mean the vehicle has better than average losses, while values that are above 100 point to more claims or larger claims.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Mazda MX-5 Miata Convertible | 76 | 61 | 74 | 72 |
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
It’s not one size fits all
When buying your policy for your vehicles, there isn’t really a one-size-fits-all type of policy. Every situation is different and your auto insurance should be unique as well.
Here are some questions about coverages that may help you determine if your insurance needs will benefit from professional help.
- Should I rate my Mazda MX-5 Miata as pleasure use or commute?
- Am I covered if my car is in a flood?
- Are there any extra discounts I can get?
- Where can I find DUI or SR-22 insurance?
- When would I need additional glass coverage?
- I have a DUI can I still get coverage?
- Is my camper covered for physical damage?
- Is business equipment covered while in my vehicle?
If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. To find 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 is quick, free and can provide invaluable advice.
Getting quotes from local Charlotte insurance agencies
Some people would prefer to get advice from a local agent and that is just fine! Good insurance agents can answer important questions and help file insurance claims. The biggest benefit of comparing insurance prices online is that you can obtain the best rates and still have a local agent. Buying insurance from small agencies is still important in Charlotte.
For easy comparison, once you complete this form (opens in new window), your insurance data is instantly submitted to local insurance agents who will gladly provide quotes for your business. You don’t have to visit any agencies because quoted prices will be sent to your email. If you want to compare prices from one company in particular, just jump over to their website and give them your coverage information.
Picking a insurance company needs to be determined by more than just the premium amount. Here are some questions you should ask.
- How will an accident affect your rates?
- How much training do they have in personal risk management?
- Are they involved in claim handling?
- If your car is in the repair shop, do you have coverage for a rental car?
- Is the quote a firm price?
- Will the agent or a CSR service your policy?
- Do they have any clout with companies to ensure a fair claim settlement?
- What insurance company do they write the most business with?
A conclusion for your insurance search
When buying insurance coverage, it’s very important that you do not reduce coverage to reduce premium. There are a lot of situations where drivers have reduced full coverage only to discover later that they should have had better coverage. Your aim should be to buy enough coverage at an affordable rate, not the least amount of coverage.
We just presented some good ideas how to get a better price on Mazda MX-5 Miata insurance in Charlotte. It’s most important to understand that the more you quote Charlotte auto insurance, the better chance you’ll have of finding inexpensive Charlotte auto insurance quotes. Consumers may even find the lowest rates come from a smaller regional carrier. Regional companies may often insure only within specific states and give better rates than the large multi-state companies such as State Farm or Progressive.
Steps to buying lower priced Mazda MX-5 Miata insurance in Charlotte
If saving the most money is your goal, then the best way to get more affordable Mazda MX-5 Miata insurance in Charlotte is to do an annual price comparison from different companies that insure vehicles in North Carolina. Prices can be compared by following these guidelines.
- First, try to learn a little about how companies price auto insurance and the changes you can make to lower rates. Many rating criteria that are responsible for high rates like traffic citations, accidents, and a substandard credit history can be amended by improving your driving habits or financial responsibility.
- Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from one company like Progressive or Allstate, while agents who are independent can give you price quotes from many different companies. Compare rates now
- Third, compare the new rates to your existing coverage and determine if cheaper MX-5 Miata coverage is available in Charlotte. If you find a lower rate quote and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
An important part of this process is to compare identical deductibles and limits on every quote and and to get rates from every company you can. Doing this ensures an apples-to-apples comparison and a thorough price selection.
More articles
- Your Car has been Stolen: Now What? (Allstate)
- Who Has Cheap Auto Insurance Rates for Drivers Over Age 50 in Charlotte? (FAQ)
- Who Has Affordable Charlotte Car Insurance Quotes for a Honda Civic? (FAQ)
- Car Insurance FAQ (Trusted Choice)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Insurance Losses by Make and Model (iihs.org)