Affordable Jersey City Mazda MX-5 Miata Insurance

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Insurance quote for Mazda MX-5 Miata in Jersey CityIt's easy to assume that car insurance companies want to keep you from comparing rates. Consumers who get comparison quotes at least once a year will most likely move their business because they stand a good chance of finding discount prices. A recent study showed that consumers who compared prices regularly saved $860 a year compared to those who never compared other company's rates.

If finding the best rates on auto insurance is your objective, then having some insight into how to quote prices and compare coverage rates can make shopping around easier.

To save the most money, the best way to get affordable auto insurance rates in Jersey City is to begin comparing prices regularly from providers in New Jersey. Drivers can shop around by following these steps.

  • First, get an understanding of how insurance works and the things you can control to prevent high rates. Many risk factors that result in higher prices such as speeding tickets, accidents and a less-than-favorable credit history can be amended by making lifestyle changes or driving safer.
  • Second, obtain price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or Farmers Insurance, while independent agencies can quote prices for a wide range of insurance providers.
  • Third, compare the new rate quotes to your existing coverage and see if you can save money. If you can save money and decide to switch, make sure coverage does not lapse between policies.
  • Fourth, tell your current company of your intent to cancel your current coverage and submit the signed application along with the required initial payment to your new insurance company. Be sure to place the new proof of insurance paperwork along with the vehicle's registration papers.

An essential thing to point out is to use the same liability limits and deductibles on every quote request and to quote with as many companies as possible. This enables the most accurate price comparison and a complete price analysis.

Just remember that comparing a wide range of rates helps improve the odds of finding more affordable rates.

The auto insurance companies shown below are ready to provide free rate quotes in Jersey City, NJ. To locate cheap auto insurance in Jersey City, we recommend you get rate quotes from several of them to find the most competitive auto insurance rates.

Why you need to buy auto insurance

Even though it can be expensive, maintaining insurance serves a purpose in several ways.

  • Most states have minimum mandated liability insurance limits which means the state requires specific minimum amounts of liability coverage if you want to drive legally. In New Jersey these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
  • If you bought your Mazda with a loan, it's most likely the lender will require you to have comprehensive coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the lender will be forced to insure your Mazda for a much higher rate and force you to pay for the expensive policy.
  • Insurance safeguards not only your Mazda MX-5 Miata but also your financial assets. It will also provide coverage for medical bills incurred in an accident. Liability coverage will also pay for a defense attorney if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.

The benefits of having insurance are definitely more than the cost, particularly for liability claims. Unknowingly, the average driver overpays more than $810 a year so smart consumers compare quotes every year to help ensure money is not being wasted.

Mazda MX-5 Miata insurance rate analysis

The coverage information shown below highlights a range of policy rates for Mazda MX-5 Miata models. Understanding more about how insurance premiums are calculated is important for you to make informed decisions when comparing rates.

Mazda MX-5 Miata Insurance Rates in Jersey City, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MX-5 Miata Sport 2-Dr Convertible $196 $372 $494 $30 $148 $1,240 $103
MX-5 Miata Touring 2-Dr Convertible $224 $452 $494 $30 $148 $1,348 $112
MX-5 Miata Grand Touring 2-Dr Convertible $224 $452 $494 $30 $148 $1,348 $112
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Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Premium amounts do not factor in vehicle location which can increase or decrease coverage prices noticeably.

Deductible comparison

When buying car insurance, a common question is which deductible level should you buy. The following tables help summarize how much more you'll pay of buying low and high deductibles. The first rate table uses a $250 deductible for comprehensive and collision coverage and the second price chart uses a $1,000 deductible.

Mazda MX-5 Miata insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MX-5 Miata Sport 2-Dr Convertible $324 $514 $408 $24 $122 $1,417 $118
MX-5 Miata Touring 2-Dr Convertible $372 $626 $408 $24 $122 $1,577 $131
MX-5 Miata Grand Touring 2-Dr Convertible $372 $626 $408 $24 $122 $1,577 $131
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Mazda MX-5 Miata insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MX-5 Miata Sport 2-Dr Convertible $200 $324 $408 $24 $122 $1,078 $90
MX-5 Miata Touring 2-Dr Convertible $230 $394 $408 $24 $122 $1,178 $98
MX-5 Miata Grand Touring 2-Dr Convertible $230 $394 $408 $24 $122 $1,178 $98
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Premium amounts do not factor in your specific Jersey City location which can change price quotes greatly.

We can estimate from the data above that using a $250 deductible costs about $32 more each month or $384 every year averaged for all MX-5 Miata models than selecting the higher $1,000 deductible. Because you would be required to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to go at least 23 months between claims, you would probably save some money if you choose a higher deductible.

Calculation for raising deductibles

Average monthly premium for $250 deductibles: $127
Average monthly premium for $1,000 deductibles (subtract): - $95
Monthly savings from raising deductible: $32
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $32
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

Mazda MX-5 Miata insurance costs by age and gender

The chart below illustrates the difference between Mazda MX-5 Miata auto insurance rates for male and female drivers. The data assumes no claims or driving violations, full physical damage coverage, $250 deductibles, single marital status, and no policy discounts are applied.

These seven discounts can lower your insurance quotes

Insuring your vehicles can cost a lot, but you might find some hidden discounts to cut the cost considerably. A few discounts will automatically apply at the time of quoting, but some must be asked for before you get the savings.Insurance discounts

  • Own a Home - Just being a homeowner can earn you a little savings due to the fact that maintaining a home shows financial diligence.
  • No Claim Discounts - Jersey City drivers who stay claim-free have much lower rates when compared with insureds who have frequent claims or accidents.
  • College Student - Children who are attending college and leave their car at home may be able to be covered for less.
  • Safety Restraint Discount - Drivers who require all occupants to use their safety belts can save up to 15% off PIP or medical payments premium.
  • Early Switch Discount - A few larger companies allow discounts for switching policies prior to your current MX-5 Miata insurance policy expiration. The savings is around 10%.
  • ABS Braking Discount - Vehicles with anti-lock braking systems prevent accidents and will save you 10% or more on MX-5 Miata insurance in Jersey City.
  • Passive Restraint Discount - Vehicles equipped with air bags and/or automatic seat belt systems could see savings up to 30%.

A little disclaimer on discounts, most discounts do not apply to the entire policy premium. Some only apply to the cost of specific coverages such as collision or personal injury protection. So when it seems like it's possible to get free car insurance, nobody gets a free ride. But all discounts will cut the cost of coverage.

The information below illustrates the comparison of Mazda MX-5 Miata yearly insurance costs with and without discounts being applied to the rates. The premium estimates are based on a female driver, no violations or claims, New Jersey state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, multi-car, marriage, multi-policy, and safe-driver discounts applied.

Popular insurance companies and a summarized list of policyholder discounts can be read below.

  • State Farm offers premium reductions for multiple autos, safe vehicle, Drive Safe & Save, driver's education, and good driver.
  • Nationwide has savings for good student, anti-theft, Farm Bureau membership, multi-policy, defensive driving, accident-free, and easy pay.
  • GEICO discounts include daytime running lights, good student, membership and employees, multi-policy, and air bags.
  • AAA offers discounts for multi-car, AAA membership discount, anti-theft, good student, good driver, education and occupation, and pay-in-full.
  • 21st Century policyholders can earn discounts including driver training, theft prevention, air bags, good student, automatic seat belts, anti-lock brakes, and student driver.
  • The Hartford has discounts for good student, bundle, air bag, defensive driver, anti-theft, driver training, and vehicle fuel type.

Double check with every prospective company how many discounts you can get. Some discounts may not apply to policies in every state. To find providers who offer free Mazda MX-5 Miata insurance quotes in Jersey City, click here.

When to get professional advice

When selecting your policy, there really is no one-size-fits-all type of policy. Everyone's situation is a little different.Safe vehicles cost less to insure

These are some specific questions may help highlight if your situation may require specific advice.

  • Will damage be repaired with OEM parts?
  • Do I need motorclub coverage?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • What is an umbrella policy?
  • Why am I required to buy high-risk coverage?
  • Is my vehicle covered by my employer's policy when using it for work?
  • Is pleasure use cheaper than using my Mazda MX-5 Miata to commute?

If you're not sure about those questions but you know they apply to you, then you may want to think about talking to a licensed agent. If you don't have a local agent, fill out this quick form.