Want to learn how to save money and find the cheapest Mazda MX-5 Miata insurance in St. Louis? Expensive auto insurance in St. Louis can empty your budget and force you to cut corners elsewhere. Comparison shopping is recommended to make sure you're not throwing money away.
A recent survey discovered that most auto insurance buyers have remained with the same auto insurance company for at least four years, and roughly 40% of drivers have never shopped around. Most drivers in St. Louis could save up to 25% every year just by shopping around, but they don't know the big savings they would realize if they moved their coverage to a different company. With people having so many different company options, it can be challenging to pick the cheapest auto insurance company.
Locating the best rates in St. Louis is much easier if you have a good place to start. If you are insured now, you will be able to shop for the lowest rates using the ideas you're about to read. Drivers just need to understand the least time-consuming way to get comparison quotes from multiple carriers.
Low-cost companies for Mazda MX-5 Miata insurance
The companies in the list below provide free rate quotes in St. Louis, MO. If multiple companies are shown, we recommend you get rates from several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MX-5 Miata Sport 2-Dr Convertible||$142||$264||$274||$16||$82||$778||$65|
|MX-5 Miata Touring 2-Dr Convertible||$176||$358||$256||$16||$76||$882||$74|
|MX-5 Miata Grand Touring 2-Dr Convertible||$98||$182||$212||$12||$64||$568||$47|
|Get Your Own Custom Quote Go|
Cost estimates assume married female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Missouri minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Estimates do not factor in garaging location in St. Louis which can raise or lower coverage prices considerably.
Rate comparison of full coverage and liability-only
The information below shows the comparison of Mazda MX-5 Miata car insurance costs when comparing full coverage to liability only. The rates are based on no claims or violations, $100 deductibles, single female driver, and no discounts are applied to the premium.
When to stop paying for full coverage
There is no set rule to stop buying comp and collision coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, then it's probably a good time to buy liability coverage only.
For example, let's pretend your Mazda MX-5 Miata settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $4,000 after paying your deductible. If you are currently paying more than $400 a year for physical damage coverage, then it may be the right time to buy liability only.
There are some cases where buying only liability insurance is not recommended. If you still have a loan on your vehicle, you have to keep full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should maintain full coverage.
The Mazda MX-5 Miata Insurance Premium Equation
Part of the car insurance buying process is learning some of the elements that aid in calculating the rates you pay for car insurance. When you understand what determines premiums, this empowers consumers to make smart changes that could result in better car insurance rates. Lots of factors are considered when pricing auto insurance. Some factors are common sense such as your driving history, although others are not as apparent like where you live or how safe your car is.
- More than one policy can earn a discount - Some car insurance companies provide discounts to policyholders that purchase more than one policy. It's known as a multi-policy discount. Even though this discount sounds good, drivers will still want to comparison shop to help guarantee you have the best rates.
- More miles driven equals more premium - Driving a lot of miles annually the more it will cost to insure it. A lot of insurance companies calculate prices partially by how you use the vehicle. Autos that have low annual miles can get a lower rate than vehicles that are driven to work every day. Verify your declarations sheet reflects the right rating data. An improperly rated MX-5 Miata may be costing you higher rates.
- Are you male or female? - Statistics show that females tend to be a little less risky than males. However, don't assume that men are WORSE drivers than women. Both genders are in auto accidents at a similar rate, but men have costlier accidents. Not only are claims higher, but men get higher numbers of serious violations like DUI and reckless driving. Male teenagers generally have the highest accident percentage so they pay the highest premiums.
- Poor credit history equals high rates - Having a good credit score is likely to be a major factor in your rate calculation. So if your credit rating can be improved, you could save money insuring your Mazda MX-5 Miata if you clean up your credit. Insureds that have excellent credit tend to be better drivers and file fewer claims than drivers who have worse credit.
- Younger drivers pay more - Older people are more responsible, statistically cause fewer accidents, and tend to be get fewer driving tickets.Teenage drivers are proven to be less responsible behind the wheel and because of this, their car insurance rates are much higher.
- High coverage deductibles reduce prices - Physical damage insurance, termed comprehensive and collision coverage on your policy, covers damage that occurs to your Mazda. Some coverage claims could be a broken side mirror, hitting a deer, and damage from a fallen tree branch. The deductibles you choose tell how much you are required to pay in the event of a claim. The more damage repair cost the insured is willing to pay, the less money you will pay for car insurance.
- Mazda MX-5 Miata insurance loss probability - Insurers use data from past claims to help set a rate to offset losses. Vehicles that tend to have a higher amount or frequency of claims will have a higher cost to insure. The next table shows the historical insurance loss data for Mazda MX-5 Miata vehicles.
For each type of coverage, the claim amount for all vehicles, regardless of make, model or trim level, is represented as 100. Values that are under 100 imply a favorable loss record, while percentage values above 100 point to more frequent losses or a tendency for claims to be larger.
Insurance Loss Ratings for Mazda MX-5 Miata Vehicles
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
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Affordable Mazda MX-5 Miata insurance in St. Louis
Properly insuring your vehicles can get expensive, but you can get discounts that many consumers don't even know exist. Some discounts will apply at the time you complete a quote, but some must be requested specifically prior to getting the savings.
- Passenger Safety Discount - Vehicles equipped with air bags or motorized seat belts may get savings of 20 to 30 percent.
- Defensive Driving Course - Taking a driver safety class could earn you a small percentage discount and easily pay for the cost of the class.
- Life Insurance - Larger companies have a discounted premium rate on car insurance if you buy life insurance from them.
- Telematics Data - Insureds who allow driving data collection to spy on driving habits by installing a telematics device such as In-Drive from State Farm or Allstate's Drivewise system might see lower rates if they have good driving habits.
- Multi-policy Discount - If you have multiple policies and insure them both with the same insurance company they may give you a discount of up to 20% and get you low cost Mazda MX-5 Miata insurance.
- Military Deployment Discount - Being deployed in the military can result in better car insurance rates.
- Early Signing - Some companies reward drivers for renewing your policy before your current coverage expires. It could save around 10% when you buy St. Louis car insurance online.
- Discount for Good Grades - Being a good student may save you up to 25%. This discount can apply until age 25.
- E-sign - Many insurance companies will give a small break for buying a policy and signing up on the internet.
Discounts lower rates, but most of the big mark downs will not be given to the entire policy premium. Most only cut specific coverage prices like comprehensive or collision. Even though it appears adding up those discounts means a free policy, it just doesn't work that way.
To view companies that offer some of these discounts in Missouri, click here to view.
Should I have guidance from an insurance agency?
A lot of people would prefer to buy from a licensed agent and doing so can bring peace of mind Licensed agents are trained to spot inefficiencies and help submit paperwork. One of the best bonuses of getting online price quotes is the fact that you can find cheap rate quotes and still have an agent to talk to.
To help locate an agent, after submitting this quick form, your insurance coverage information is emailed to insurance agents in St. Louis that give free quotes to get your business. There is no need to contact any agents as quotes are delivered directly to your email. If for some reason you want to compare rates for a specific company, you would need to visit that company's website and complete a quote there.
Finding the right insurance company requires more thought than just the bottom line cost. These are some valid questions you should ask.
- Will you work with the agent or an assistant?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- What insurance companies do they work with in St. Louis?
- What are the financial ratings for the companies they represent?
- Is working in the agency their full-time job?
- Are they actively involved in the community?
Affordable insurance premiums are possible
Cheap Mazda MX-5 Miata insurance in St. Louis is available online as well as from insurance agents, and you should compare rates from both to have the best rate selection. Some insurance companies do not offer online rate quotes and usually these smaller companies prefer to sell through local independent agents.
You just learned many tips how you can reduce Mazda MX-5 Miata insurance rates online in St. Louis. It's most important to understand that the more rate quotes you have, the better your chances of lowering your car insurance rates. You may even discover the biggest savings come from an unexpected company. These companies may have significantly lower car insurance rates on certain market segments compared to the large companies like State Farm, GEICO and Nationwide.
- Where can I buy Insurance? (Insurance Information Institute)
- Who Has Cheap Auto Insurance Rates for Police Officers in Missouri? (FAQ)
- What is the Best Car Insurance in OFallon, MO? (FAQ)
- How Much is Missouri Auto Insurance for Drivers Over Age 50? (FAQ)
- Safety Features for Your New Car (State Farm)
- Teen Driving Statistics (GEICO)
- What Does No-Fault Insurance Cover? (Allstate)