Want to save money and find the cheapest Mazda MX-5 Miata insurance in El Paso? Are you burned out from wondering where the money will come from to pay your car insurance bill each month? You have the same problem as many other Texas drivers.
Unthinkable but true, nearly 70% of customers have been with the same company for at least the last four years, and 38% of customers have never even compared quotes to find cheaper rates. American drivers could save themselves roughly 46.5% a year, but most just don’t grasp the large savings they would see if they switched to a cheaper policy.
Steps to finding low-cost rates for Mazda MX-5 Miata insurance in El Paso
Truthfully, the best way to find lower priced Mazda MX-5 Miata insurance is to regularly compare price quotes from companies in El Paso.
First, try to comprehend how insurance works and the modifications you can make to prevent expensive coverage. Many risk factors that drive up the price such as your driving record and an imperfect credit score can be eliminated by making small lifestyle or driving habit changes.
Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from one company like GEICO and Allstate, while independent agencies can provide price quotes from multiple sources. Click to view companies
Third, compare the price quotes to your existing rates and see if there is a cheaper rate in El Paso. If you find a lower rate, verify that coverage does not lapse between policies.
An important part of this process is to make sure you’re comparing identical limits and deductibles on every quote request and and to compare as many carriers as you can. Doing this helps ensure a level playing field and a good representation of prices.
With so many options for buying affordable insurance for a Mazda MX-5 Miata in El Paso, it can be hard to choose the most cost effective insurance company.
It’s a great practice to compare prices yearly because insurance prices tend to go up over time. Even if you got the best deal on Mazda MX-5 Miata insurance in El Paso at your last renewal you can probably find a better premium rate now. Block out anything you think you know about car insurance because it’s time to teach you the quickest way to properly buy coverages and cut your premium.
When comparison shopping, making a lot of price comparisons will improve the odds of getting a lower rate. Some insurance companies are not set up to provide online price quotes, so it’s recommended that you also compare price estimates from those companies as well.
The companies shown below offer quotes in El Paso, TX. If more than one company is shown, we suggest you visit two to three different companies to get a more complete price comparison.
Auto insurance is not optional in Texas
Even though El Paso MX-5 Miata insurance rates can get expensive, paying for auto insurance may not be optional for several reasons.
First, just about all states have mandatory liability insurance requirements which means you are required to buy specific limits of liability insurance in order to drive the car. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if your MX-5 Miata has a loan, most banks will stipulate that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank will be required to insure your Mazda at an extremely high rate and force you to reimburse them a much higher amount than you were paying before.
Third, insurance safeguards both your assets and your car. It will also provide coverage for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, will also pay to defend you in the event you are sued. If you have damage to your Mazda as the result of the weather or an accident, your policy will pay to have it repaired.
The benefits of carrying adequate insurance more than offset the price you pay, especially for larger claims. The average driver in America is currently overpaying as much as $825 a year so you should quote and compare rates once a year at a minimum to ensure rates are competitive.
Rates and data analysis
The coverage information shown next covers a range of insurance rates for Mazda MX-5 Miata models. Having knowledge of how auto insurance prices are formulated is important to be able to make informed coverage decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $162 | $280 | $310 | $18 | $94 | $864 | $72 |
| MX-5 Miata Touring 2-Dr Convertible | $186 | $340 | $310 | $18 | $94 | $948 | $79 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $186 | $340 | $310 | $18 | $94 | $948 | $79 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Prices do not factor in vehicle garaging location which can affect rates greatly.
Physical damage deductibles
One of the more difficult decisions when buying auto insurance is what deductibles to buy. The tables below illustrate the costs and benefits when you select higher and lower comp and collision deductibles. The first rate comparisons uses a $100 physical damage coverage deductible and the second price grid uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $286 | $486 | $324 | $20 | $96 | $1,237 | $103 |
| MX-5 Miata Touring 2-Dr Convertible | $328 | $592 | $324 | $20 | $96 | $1,385 | $115 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $328 | $592 | $324 | $20 | $96 | $1,385 | $115 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $208 | $328 | $324 | $20 | $96 | $976 | $81 |
| MX-5 Miata Touring 2-Dr Convertible | $240 | $400 | $324 | $20 | $96 | $1,080 | $90 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $240 | $400 | $324 | $20 | $96 | $1,080 | $90 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Table data does not factor in vehicle location which can raise or lower prices significantly.
Using the data above, we can ascertain that using a $100 deductible costs approximately $24 more each month or $288 annually than requesting the higher $500 deductible. Since the policyholder would be required to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you tend to average at a minimum 17 months between claims, you would more than likely save some money if you choose the higher deductible. The table below shows a better example of how you can decide this on your own policy.
| Average monthly premium for $100 deductibles: | $111 |
| Average monthly premium for $500 deductibles (subtract): | – $87 |
| Monthly savings from raising deductible: | $24 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $24 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 17 months |
The chart below highlights how deductible choice and can change Mazda MX-5 Miata premium costs for different categories of driver ages. The information is based on a married female driver, full coverage, and no discounts are factored in.
Drive safe and save
The chart below illustrates how violations and at-fault fender-benders can affect Mazda MX-5 Miata auto insurance costs for each different age category. The premium estimates are based on a married female driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.
Impact of age and gender on auto insurance rates
The example below visualizes the comparison of Mazda MX-5 Miata auto insurance costs for male and female drivers. The prices are based on no violations or accidents, comprehensive and collision coverage, $500 deductibles, drivers are not married, and no discounts are applied to the premium.
How much more does full coverage cost in El Paso?
The information below illustrates the difference between Mazda MX-5 Miata insurance prices with full physical damage coverage and with liability coverage only. The information is based on no violations or claims, $500 deductibles, drivers are not married, and no additional discounts are factored in.
When to stop buying physical damage coverage
There is no written rule that works best for making the decision to drop physical damage coverage, but there is a general guideline. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s say your Mazda MX-5 Miata claim settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $2,000 after paying the physical damage deductible. If it’s costing in excess of $200 annually for your policy with full coverage, then it might be time to buy liability only.
There are some scenarios where dropping physical damage coverage is not a good plan. If you still owe a portion of the original loan, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage in place.
Car insurance policy discounts you can’t miss
Car insurance companies don’t always publicize every discount in a way that’s easy to find, so the list below details both well-publicized and the more hidden credits that may apply to you.
- Policy Bundle Discount – If you can bundle your homeowners and auto insurance and insure them with the same company you could save at least 10 to 15 percent or more.
- Senior Citizen Discount – If you qualify as a senior citizen, you may be able to get a small discount on rates.
- Good Driver Discounts – Safe drivers may receive a discount up to 45% than their less cautious counterparts.
- E-sign Discounts – Many car insurance companies may give you up to $50 get El Paso car insurance online.
- Multi-line Discount – Select insurance companies reward you with a discounted car insurance rate on car insurance if you buy some life insurance too.
You should keep in mind that some of the credits will not apply to the entire cost. Most only apply to the price of certain insurance coverages like comprehensive or collision. So when the math indicates it’s possible to get free car insurance, it’s just not the way it works.
The information below shows the difference between Mazda MX-5 Miata insurance prices with and without discounts applied to the policy premium. The rates are based on a male driver, no claims, a clean driving record, Texas state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, safe-driver, marriage, multi-car, and multi-policy discounts applied.
Some companies that have these benefits may include but are not limited to:
When comparing rates, check with each company or agent the best way to save money. Discounts might not be offered in El Paso. To locate companies that provide some of the discounts listed above in Texas, click here to view.
Local El Paso insurance agents
A lot of people would prefer to talk to an insurance agent and that is a smart decision One of the benefits of comparing insurance prices online is the fact that you can find cheap auto insurance rates but also keep your business local. Buying from neighborhood insurance agencies is still important in El Paso.
To help locate an agent, after submitting this simple form, the coverage information is sent to local insurance agents in El Paso who will give you quotes and help you find cheaper coverage. It makes it easy because there is no need to contact any agents due to the fact that quote results will go to you instantly. You can most likely find cheaper rates and an insurance agent to talk to. If you have a need to compare prices from a specific company, you can always jump over to their website and fill out the quote form the provide.
Different types of El Paso auto insurance agents
When looking for a reliable insurance agent, you need to know there are two different types of agents and how they work. Agents can be classified as either exclusive or independent (non-exclusive).
Independent Agents (or Brokers)
Agents that choose to be independent can quote rates with many companies so as a result can place your coverage with an assortment of companies and find the cheapest auto insurance rates. If they find a lower price, the business is moved internally which makes it simple for you.
If you are comparing rate quotes, we highly recommend that you contact at least one independent agent in order to have the best price comparison.
Below are independent insurance agencies in El Paso that may be able to give you comparison quotes.
Sellers Insurance Agency
6356 Edgemere Blvd – El Paso, TX 79925 – (915) 778-5463 – View Map
Home Insurance Agency
1760 Airway Blvd – El Paso, TX 79925 – (915) 771-8552 – View Map
Desert West Insurance: Lavelle Michael
7500 Viscount Suite 101 – El Paso, TX 79925 – (830) 534-9623 – View Map
Exclusive Auto Insurance Agents
Exclusive agents generally can only insure with one company such as State Farm, Allstate and AAA. Exclusive agents cannot shop your coverage around so they really need to provide good service. They are usually quite knowledgeable on the products they sell which helps overcome the inability to quote other rates.
The following are El Paso exclusive agencies who can help you get price quote information.
Tom Silverthorn – State Farm Insurance Agent
125 Thunderbird Dr a – El Paso, TX 79912 – (915) 581-3379 – View Map
Tomas Casillas – State Farm Insurance Agent
1568 Joe Battle Blvd #104 – El Paso, TX 79936 – (915) 857-4959 – View Map
Beth Santillan – State Farm Insurance Agent
12420 Edgemere Blvd Ste 102 – El Paso, TX 79938 – (915) 855-0035 – View Map
Finding the right insurance agent should include more criteria than just a low price. These are some questions you should get answers to.
- What kind of financial rating does the company have?
- What companies can they write with?
- Does the quote include credit and driving reports?
- How does the company pay claims for a total loss?
- Who is covered by the car insurance policy?
What is the best auto insurance company in Texas?
Ending up with the best car insurance company can be rather challenging considering how many choices there are in Texas. The company rank data listed below can help you analyze which insurers to look at when shopping your coverage around.
Top 10 El Paso Car Insurance Companies Overall
- Travelers
- USAA
- Mercury Insurance
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
Compare but don’t skimp
In this article, we presented many tips how you can reduce Mazda MX-5 Miata insurance premium rates online in El Paso. The key concept to understand is the more providers you compare, the better chance you’ll have of finding cheaper El Paso car insurance quotes. You may even discover the most savings is with an unexpected company. These smaller insurers can often provide lower prices in certain areas compared to the large companies like State Farm and Allstate.
Cost effective Mazda MX-5 Miata insurance is definitely available from both online companies and from local agencies, and you need to comparison shop both so you have a total pricing picture. Some insurance companies may not provide the ability to get a quote online and usually these small, regional companies sell through independent agents.
How to find low-cost Mazda MX-5 Miata insurance in El Paso
Truthfully, the best way to find low-cost Mazda MX-5 Miata insurance in El Paso is to compare quotes annually from insurers in Texas. You can shop around by completing these steps.
- Try to understand policy coverages and the measures you can control to drop your rates. Many things that cause high rates like traffic citations, accidents, and an imperfect credit score can be eliminated by improving your driving habits or financial responsibility.
- Request rate estimates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO or Allstate, while agents who are independent can give you price quotes for many different companies.
- Compare the new rates to the price on your current policy to determine if you can save on MX-5 Miata insurance. If you find better rates and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.
One key aspect when comparing rates is to use identical limits and deductibles on each price quote and and to get prices from as many companies as feasibly possible. This provides a fair price comparison and a thorough price selection.
To read more, take a look at the articles below:
- Smart Auto Insurance Tips (Insurance Information Institute)
- Red Light Cameras (State Farm)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)