Find Cheaper Mazda RX-8 Insurance in Jersey City

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Discount Mazda RX-8 insuranceA study showed that a large majority of consumers kept their coverage with the same auto insurance company for more than four years, and approximately 38% of consumers have never compared rates from other carriers. U.S. consumers could pocket as much as $859 a year, but they just don't understand the amount of money they would save if they swap their current policy for a cheaper one.

If saving the most money is your goal, then the best way to get affordable Mazda RX-8 insurance in Jersey City is to do a yearly price comparison from insurers who can sell car insurance in New Jersey. Drivers can shop around by completing these steps.

First, read about car insurance and the changes you can make to prevent high rates. Many rating criteria that cause rate increases such as traffic tickets, fender benders, and a bad credit score can be improved by being financially responsible and driving safely.

Second, request price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from one company like GEICO or Allstate, while independent agencies can provide prices for many different companies.

Third, compare the new rate quotes to your existing rates and determine if there is any savings. If you can save some money and buy the policy, make sure coverage is continuous and does not lapse.

Fourth, provide written notification to your current company to cancel your current auto insurance policy. Submit a down payment along with a signed application for the new coverage. As soon as you can, place your new certificate verifying proof of insurance with your vehicle's registration.

One important bit of advice is to use identical deductibles and limits on each quote request and and to get price estimates from as many car insurance companies as possible. This enables a fair rate comparison and the best rate selection.

This article's goal is to teach you how car insurance companies work and some tricks to saving. If you're already insured, you will most likely be able to get lower rates using the ideas covered in this article. Nevertheless, New Jersey car owners can benefit from knowing how the larger insurance companies determine how much to charge and use this information to your advantage.

When quoting insurance, remember that obtaining a wide range of quotes helps locate more affordable rates.

The companies in the list below are our best choices to provide quotes in Jersey City, NJ. If you want to find the best auto insurance in New Jersey, it's highly recommended you visit as many as you can in order to find the most affordable rates.

You may qualify for discounts for Mazda RX-8 insurance in Jersey City

Car insurance is not cheap nor is it fun to buy but there could be significant discounts that you may not know about. A few discounts will be applied at the time you complete a quote, but some discounts are required to be specially asked for prior to getting the savings.Cheaper car insurance with discounts

  • Distant Student - Kids who are enrolled in higher education away from home and do not take a car to college may be able to be covered for less.
  • Discount for Low Mileage - Low mileage vehicles can qualify you for cheaper rates.
  • Home Ownership Discount - Being a homeowner can help you save on car insurance due to the fact that maintaining a home is proof that your finances are in order.
  • Data Collection Discounts - Policyholders that allow their insurance company to look at vehicle usage by using a telematics device such as Allstate's Drivewise and State Farm's In-Drive system may get a rate reduction as long as the data is positive.
  • Include Life Insurance and Save - Select car insurance companies reward you with a small discount if you purchase some life insurance too.
  • Buy New and Save - Insuring a new RX-8 is cheaper because new model year vehicles keep occupants safer.
  • Policy Bundle Discount - If you have multiple policies and place coverage with the same company you will save approximately 10% to 15%.
  • ABS and Traction Control Discounts - Vehicles with anti-lock braking systems are safer to drive and earn discounts up to 10%.

One last thing about discounts, many deductions do not apply to all coverage premiums. A few only apply to specific coverage prices like liability, collision or medical payments. Despite the appearance that you can get free auto insurance, companies don't profit that way.

The illustration below visualizes the comparison of Mazda RX-8 insurance premiums with and without policy discounts. The price estimates are based on a male driver, a clean driving record, no claims, New Jersey state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, homeowner, multi-car, multi-policy, and claim-free discounts applied.

A few popular companies and their offered discounts include:

  • GEICO has savings for seat belt use, emergency military deployment, multi-vehicle, multi-policy, membership and employees, and anti-lock brakes.
  • Auto-Owners Insurance may offer discounts for safe driver, multiple vehicles, multi-policy, teen driver, anti-theft, safe vehicle, and mature driver.
  • American Family offers discounts including good student, accident-free, good driver, Steer into Savings, early bird, and bundled insurance.
  • Esurance has discounts for homeowner, paid-in-full, anti-theft, anti-lock brakes, and claim free.
  • Progressive offers discounts for multi-policy, online quote discount, homeowner, continuous coverage, and online signing.
  • State Farm offers premium reductions for accident-free, Drive Safe & Save, anti-theft, student away at school, good driver, Steer Clear safe driver discount, and passive restraint.
  • AAA includes discounts for education and occupation, multi-car, AAA membership discount, pay-in-full, and good student.

When comparing rates, check with all the companies which discounts they offer. Some discounts might not be offered everywhere. To choose companies with the best Mazda RX-8 insurance discounts in Jersey City, click here.

Coverage information

The data table displayed next highlights estimates of prices for Mazda RX-8 models. Having insight into how insurance quotes are calculated is important for you to make smart choices when comparing insurance quotes.

Mazda RX-8 Insurance Rates in Jersey City, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $360 $612 $452 $26 $136 $1,586 $132
RX-8 Grand Touring 4-Dr Coupe $360 $704 $452 $26 $136 $1,678 $140
RX-8 R3 4-Dr Coupe $360 $704 $452 $26 $136 $1,678 $140
Get Your Own Custom Quote Go

Price data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Rate information does not factor in specific location information which can alter coverage prices considerably.

Insurance deductibles

When comparing insurance rates, the most common question is where should you set your physical damage deductibles. The following insurance rates approximate how much more rates are when you buy lower versus higher policy deductibles. The first set of rates uses a $100 physical damage deductible and the second data table uses a $500 deductible.

Mazda RX-8 insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $520 $880 $480 $28 $144 $2,077 $173
RX-8 Grand Touring 4-Dr Coupe $520 $1014 $480 $28 $144 $2,211 $184
RX-8 R3 4-Dr Coupe $520 $1014 $480 $28 $144 $2,211 $184
Get Your Own Custom Quote Go
Mazda RX-8 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $380 $594 $480 $28 $144 $1,626 $136
RX-8 Grand Touring 4-Dr Coupe $380 $684 $480 $28 $144 $1,716 $143
RX-8 R3 4-Dr Coupe $380 $684 $480 $28 $144 $1,716 $143
Get Your Own Custom Quote Go

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Premium amounts do not factor in vehicle garaging location which can revise premium rates considerably.

Based on this data, we can arrive at the conclusion that using a $100 deductible costs roughly $39 more each month or $468 every year than selecting the higher $500 deductible. Since you would have to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you tend to have at least 10 months between claims, you would save money by selecting a higher deductible. The table below illustrates a better example of how this decision is made.

Average monthly premium for $100 deductibles: $180
Average monthly premium for $500 deductibles (subtract): - $141
Monthly savings from raising deductible: $39
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $39
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 10 months

One important note is that increasing deductibles to save money means you pay more out-of-pocket when you have a comprehensive or collision claim. It will be required that you have some extra funds in the event you need to pay more for the deductible.

Safe drivers pay less for insurance

The diagram below illustrates how violations and at-fault fender-benders drive up Mazda RX-8 car insurance costs for different age groups of insureds. The premiums are based on a married male driver, full coverage, $1,000 deductibles, and no discounts are applied.

Annual premiums for males versus females in Jersey City

The chart below compares Mazda RX-8 premium costs for male and female drivers. The prices are based on no claims or driving violations, full coverage, $250 deductibles, marital status is single, and no additional discounts are factored in.

Full coverage or liability only

The example below shows the comparison of Mazda RX-8 annual premium costs with and without physical damage coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $250 deductibles, marital status is single, and no policy discounts are applied.

When to stop buying comprehensive and collision coverage

There is no written rule for phasing out physical damage insurance, but there is a guideline you can consider. If the yearly cost of full coverage is more than about 10% of replacement cost minus your deductible, then it could be time to drop full coverage.

For example, let's say your Mazda RX-8 replacement value is $9,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $8,000 after the policy deductible has been paid. If it's costing in excess of $800 annually for comprehensive and collision coverage, then it could be time to drop full coverage.

There are some cases where dropping full coverage is not recommended. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should keep full coverage on your policy.