Do you want to save money by buying the cheapest Mazda MX-5 Miata insurance in Fort Collins? I really doubt anyone fancies paying their premiums for car insurance, particularly when the cost is way too high.
A recent NerdWallet.com study revealed that the vast majority of car insurance customers kept buying from the same company for over three years, and nearly half have never shopped around. Fort Collins consumers could cut their rates by almost 35% a year just by shopping around, but they think it's difficult to compare rate quotes online.
Big companies like GEICO and Progressive promote their brand names with catchy ads and consumers find it hard to see through the deception and find the best price available.
Save money with these discounts
Some insurance providers don't always list all their discounts in an easy-to-find place, so the following list contains some of the best known and also the lesser-known credits available to you.
- Theft Deterrent System - Cars, trucks, and SUVs optioned with advanced anti-theft systems can help prevent theft and will save you 10% or more on MX-5 Miata insurance in Fort Collins.
- Full Payment Discount - If you can afford to pay the entire bill instead of making monthly payments you can avoid monthly service charges.
- Senior Citizens - Older drivers may qualify for a small discount on rates.
- Defensive Driving Course - Passing a course in safe driver could save 5% or more and also improve your driving technique.
- Multi-line Discount - Not all insurance companies offer life insurance, but some may give you a discount if you purchase a life insurance policy as well.
- Drive Less and Save - Driving less can earn better rates on cars that stay parked.
- Smart Student Discounts - Performing well in school can get you a discount of up to 25%. You can use this discount normally well after school through age 25.
- Discount for New Cars - Buying a new car instead of a used MX-5 Miata is cheaper since newer models have better safety ratings.
Discounts reduce rates, but you should keep in mind that most credits do not apply the the whole policy. The majority will only reduce the cost of specific coverages such as liability and collision coverage. Despite the fact that it seems like all the discounts add up to a free policy, it's just not the way it works. But any discount will help reduce your insurance premiums.
Car insurance companies that possibly offer most of the discounts above are:
Before you buy a policy, ask each company or agent which discounts they offer. Some discounts might not be available to policyholders in your area. To locate companies offering insurance discounts in Fort Collins, click here to view.
Many insurance companies give prices for coverage online. Obtaining pricing for Mazda MX-5 Miata insurance in Fort Collins doesn't take a lot of time as you simply type in your required coverages as detailed in the form. Once you submit the form, the quote system collects your driving record and credit report and returns pricing information. The ability to get online price quotes for Mazda MX-5 Miata insurance in Fort Collins streamlines rate comparisons, and it's absolutely necessary to have as many quotes as possible if you want to find the most affordable premium possible.
To find out if lower rates are available, compare quotes from the companies shown below. If you have your current policy handy, we recommend you input the coverage information identical to your current policy. Using the same limits helps guarantee you will have a price comparison for similar insurance coverage.
The companies shown below can provide comparison quotes in Colorado. If multiple companies are shown, it's a good idea that you compare several of them to get the lowest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MX-5 Miata Sport 2-Dr Convertible||$214||$372||$404||$24||$120||$1,134||$95|
|MX-5 Miata Touring 2-Dr Convertible||$186||$354||$404||$24||$120||$1,088||$91|
|MX-5 Miata Grand Touring 2-Dr Convertible||$260||$516||$388||$22||$116||$1,302||$109|
|Get Your Own Custom Quote Go|
Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Information does not factor in specific location which can affect premium rates substantially.
Auto insurance premiums based on gender
The example below illustrates the difference between Mazda MX-5 Miata insurance rates for male and female drivers. The data is based on no accidents, no driving violations, full physical damage coverage, $100 deductibles, marital status is single, and no policy discounts are applied.
Mazda MX-5 Miata full coverage rates compared to liability only
The illustration below illustrates the difference between Mazda MX-5 Miata car insurance costs with and without physical damage coverage. The price estimates are based on a clean driving record, no at-fault accidents, $250 deductibles, single female driver, and no additional discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no clear-cut rule to delete comp and collision coverage, but there is a guideline you can consider. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let's say your Mazda MX-5 Miata claim settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $3,000 after paying your deductible. If it's costing in excess of $300 annually for physical damage coverage, then it could be time to drop full coverage.
There are some cases where eliminating full coverage is not recommended. If you haven't satisfied your loan, you have to maintain full coverage in order to keep the loan. Also, if you don't have enough money to buy a different vehicle if your current one is totaled, you should keep full coverage in place.
Smart Buyers Can Cut Insurance Costs
One of the most helpful ways to save on insurance is to to have a grasp of some of the things that go into determining the level of your policy premiums. When you understand what determines premiums, this enables informed choices that can help you get much lower annual insurance costs. Many factors are part of the calculation when quoting car insurance. Some are obvious such as your driving record, but some are not quite as obvious such as whether you are married or how safe your car is.
Listed below are some of the major factors used by insurance companies to determine your rates.
Only buy extra coverages you need - There are quite a few extra bells and whistles that may not really be needed when buying insurance. Things like personal injury protection, high-cost glass coverage, and extra equipment coverage are examples of these. These coverages may sound good when you first buy your policy, but now you might not need them so consider taking them off your policy.
Performance affects rates - The performance of the car, truck or SUV you are insuring makes a big difference in how high your rates are. Since the Mazda MX-5 Miata is considered a sports car, insurance will be much more than the average rate where you live in Fort Collins. Lower performance four cylinder passenger models normally have pretty low rates, but other factors influence the final cost greatly.
Insure car and home with the same company - Many insurance companies apply a discount for people who carry more than one policy in the form of a multi-policy discount. Even if you qualify for this discount already, you still need to compare other Fort Collins MX-5 Miata insurance rates to help ensure you have the lowest rates.
Don't cancel your coverage without a new one in place - Allowing your insurance policy to lapse will be a guaranteed way to increase your rates. Not only will you pay higher rates, being ticketed for driving with no insurance may earn you a license revocation or jail time.
Discounts for married drivers - Walking down the aisle actually saves money on your policy. Having a significant other demonstrates that you tend to be less irresponsible and it's proven that married couples file fewer claims.
Better rates on safer cars - Vehicles with high crash test scores cost less to insure. These vehicles reduce the chance of injuries and lower injury rates translates directly to fewer claims passed on to you as lower rates.
Loss statistics for a Mazda MX-5 Miata - Insurers analyze claim trends for every vehicle when they file their rates in each state. Vehicles that the statistics show to have a trend towards higher claim severity or frequency will have a higher cost to insure.
The table below outlines the loss history for Mazda MX-5 Miata vehicles. For each insurance policy coverage type, the statistical loss for all vehicles averaged together is represented as 100. Percentage values below 100 mean the vehicle has better than average losses, while numbers above 100 indicate more frequent losses or an increased probability of a larger loss.
Auto Insurance Loss Data for Mazda MX-5 Miata Models
|Vehicle Make and 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: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Do I need special coverages?
When choosing adequate coverage for your vehicles, there really is not a perfect coverage plan. Everyone's situation is unique and a cookie cutter policy won't apply. For instance, these questions can aid in determining if your situation may require specific advice.
- Can I afford to pay high deductible claims out of pocket?
- Which companies will insure me after a DUI?
- Are split liability limits better than a combined single limit?
- Are there companies who specialize in insuring high-risk drivers?
- Why are teen drivers so expensive to add on to my policy?
- Do I need added coverage for expensive stereo equipment?
- What happens if I owe more than my Mazda MX-5 Miata is worth?
- At what point should I drop full coverage?
If it's difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, fill out this quick form or you can also visit this page to select a carrier
Local neighborhood agents and insurance
A lot of people just want to go talk to an agent and that is not a bad decision One of the great benefits of comparing rate quotes online is that you can obtain cheap insurance quotes but still work with a licensed agent. Buying from and supporting local agencies is still important in Fort Collins.
For easy comparison, once you complete this short form, your information is transmitted to local insurance agents in Fort Collins who will return price quotes to get your business. You don't have to search for an agent since price quotes are sent to you instantly. You can get cheaper insurance rates without the usual hassles of price shopping. If you want to compare prices from a specific company, don't hesitate to visit that company's website and fill out the quote form the provide.
The type of car insurance agent you choose is important
When finding a reliable insurance agency, it helps to know the two different agency structures that differ in how they can insure your vehicles. Fort Collins agents are either independent or exclusive depending on the company they work for.
Independent agencies do not work for one specific company and that allows them to write policies with lots of companies depending on which coverage is best. If premiums increase, your agent can switch companies and you don't have to find a new agent. When shopping rates, you absolutely need to compare prices from a few independent agents to ensure the widest selection of prices.
Below is a list of independent insurance agents in Fort Collins who may be able to give you free insurance quotes.
Colorado - B W Insurance Agency Inc
1075 W Horsetooth Rd # 106 - Fort Collins, CO 80526 - (970) 223-0924 - View Map
Exclusive Insurance Agents
Exclusive agencies work for only one company and some examples include Farmers Insurance, Allstate, or State Farm. They generally cannot shop your coverage around so they are skilled at selling on more than just price. Exclusive agencies receive extensive training in insurance sales which helps them sell insurance even at higher premiums.
The following are Fort Collins exclusive agents that are able to give comparison quotes.
Dave Lawser - State Farm Insurance Agent
4605 Ziegler Rd #1 - Fort Collins, CO 80528 - (970) 226-1306 - View Map
Finding the right auto insurance agent shouldn't rely on just a low price. Any agent in Fort Collins should be willing to answer these questions.
- Can glass repairs be made at your home?
- How many companies do they write for?
- Does the agency support the community they serve?
- How is replacement cost determined on your vehicle?
- Which family members are covered?
- Does the company have a solid financial rating?
Why you need MX-5 Miata insurance in Colorado
Even though it can be expensive, paying for car insurance serves a purpose in several ways.
- Most states have minimum liability requirements which means it is punishable by state law to not carry a specific level of liability insurance in order to drive the car. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you have a loan on your Mazda MX-5 Miata, almost all lenders will force you to have comprehensive coverage to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank may insure your Mazda at a much higher rate and force you to reimburse them the higher price.
- Insurance protects not only your Mazda but also your assets. It will also reimburse you for medical expenses for yourself as well as anyone injured by you. Liability coverage also pays expenses related to your legal defense if you are sued as the result of your driving. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance definitely exceed the price paid, particularly for liability claims. But the average driver in Colorado is currently overpaying as much as $869 every year so compare rates each time the policy renews to make sure the price is not too high.
What is YOUR best insurance company?
Lower-priced car insurance in Fort Collins can be purchased both online and also from your neighborhood Fort Collins agents, so you should be comparing quotes from both to get a complete price analysis. Some car insurance companies may not provide the ability to get a quote online and usually these small insurance companies only sell coverage through local independent agents.
As you shop your coverage around, don't be tempted to skimp on coverage in order to save money. There have been many cases where an insured dropped physical damage coverage and found out when filing a claim that it was a big mistake. The ultimate goal is to find the BEST coverage at the best cost, but don't skip important coverages to save money.
To read more, take a look at these articles:
- Red Light Cameras (State Farm)
- Who Has Affordable Auto Insurance for Active Military in Colorado? (FAQ)
- How Much are Auto Insurance Rates for Drivers Under 21 in Colorado? (FAQ)
- Who Has Cheap Auto Insurance for 16 Year Olds in Colorado? (FAQ)
- What is the Cheapest Auto Insurance in Lakewood, Colorado? (FAQ)
- How Much is Auto Insurance for Hybrid Vehicles in Colorado? (FAQ)
- How Much are Auto Insurance Rates for a Ford Fusion in Colorado? (FAQ)
- Anti-Lock Brake FAQ (iihs.org)
- Young Drivers: The High Risk Years Video (iihs.org)
- Should I Buy a New or Used Car? (Allstate)