Do you want to save money by finding the cheapest insurance rates in Minneapolis, MN? Minneapolis shoppers have options when shopping for the lowest priced Mazda MX-5 Miata insurance. They can either waste time struggling with agents to get rate comparisons or leverage the internet to make rate comparisons.
There is a right way and a wrong way to find insurance online and we’ll show you the best way to compare rates for a new or used Mazda and get the best price possible.
You need to compare prices at least once a year because insurance rates go up and down regularly. Despite the fact that you may have had the lowest premium rates on Mazda MX-5 Miata insurance in Minneapolis on your last policy there may be better deals available now. Forget anything you know (or think you know) about insurance because you’re about to learn how to use the internet to properly buy coverages and cut your premium.
If you have a policy now or just want cheaper rates, you will benefit by learning to cut your premiums and still get good coverage. Our goal in writing this article help educate you on the most effective ways to compare rates and some tricks to saving. Drivers only need an understanding of the most efficient way to shop online.
Best companies for Mazda MX-5 Miata insurance
The auto insurance companies shown below provide price comparisons in Minneapolis, MN. To buy cheap auto insurance in Minneapolis, we recommend you visit several of them to find the cheapest auto insurance rates.
Coverage information
The premium table displayed below outlines estimates of insurance prices for Mazda MX-5 Miata models. Learning as much as possible about how insurance premiums are established can aid in making smart choices when choosing a car insurance company.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $136 | $232 | $258 | $16 | $78 | $720 | $60 |
| MX-5 Miata Touring 2-Dr Convertible | $156 | $284 | $258 | $16 | $78 | $792 | $66 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $156 | $284 | $258 | $16 | $78 | $792 | $66 |
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Prices based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Price estimates do not factor in your specific Minneapolis location which can revise prices considerably.
Reckless driving habits raise car insurance rates
The information below demonstrates how citations and at-fault fender-benders increase Mazda MX-5 Miata car insurance rates for different age groups. The premium estimates are based on a single male driver, full physical damage coverage, $250 deductibles, and no discounts are factored in.
Car insurance rates based on gender
The illustration below compares Mazda MX-5 Miata car insurance costs for male and female drivers. Data assumes no driving violations, no at-fault accidents, comprehensive and collision coverage, $250 deductibles, drivers are single, and no additional discounts are factored in.
How much more does full coverage cost?
The example below shows the difference between Mazda MX-5 Miata annual premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Minnesota. The price estimates are based on no violations or claims, $100 deductibles, marital status is single, and no additional discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no set rule to stop paying for comprehensive and collision coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your Mazda MX-5 Miata replacement value is $4,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $3,000 after the policy deductible has been paid. If you are paying in excess of $300 a year for your policy with full coverage, then you might consider buying liability only.
There are some cases where removing full coverage is not a good idea. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should keep full coverage.
Discounts mean cheaper rates for Mazda MX-5 Miata insurance in Minneapolis
Companies offering auto insurance don’t necessarily list all available discounts in an easy-to-find place, so the next list breaks down a few of the more common and also the lesser-known discounts you could be receiving when you buy Minneapolis auto insurance online.
- No Charge for an Accident – Not necessarily a discount, but some companies like Progressive, Allstate, and GEICO may permit one accident before raising your premiums so long as you haven’t had any claims before the accident.
- Low Mileage Discounts – Maintaining low annual mileage could earn lower prices on the low mileage vehicles.
- Club Memberships – Being a member of specific professional or occupational memberships or organizations is a good way to get lower rates on your bill.
- Passive Restraints and Air Bags – Factory options such as air bags and/or automatic seat belt systems could see savings up to 30%.
- Driver Safety – Taking a defensive driving class may get you a small discount if you qualify.
- Claim-Free Discount – Drivers who don’t have accidents can earn big discounts compared to insureds who have frequent claims or accidents.
Please keep in mind that most credits do not apply to all coverage premiums. Most only reduce specific coverage prices like comprehensive or collision. So even though they make it sound like you would end up receiving a 100% discount, insurance companies wouldn’t stay in business. But any discount will definitely reduce your policy cost.
The chart below illustrates the comparison of Mazda MX-5 Miata yearly insurance costs with and without discounts being applied to the rates. The premiums are based on a female driver, no claims or driving violations, Minnesota 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, multi-policy, safe-driver, claim-free, homeowner, and multi-car discounts applied.
Larger auto insurance companies and the discounts they provide are:
- State Farm discounts include Steer Clear safe driver discount, multiple autos, good driver, anti-theft, good student, multiple policy, and student away at school.
- American Family offers discounts for TimeAway discount, bundled insurance, multi-vehicle, early bird, good driver, air bags, and accident-free.
- GEICO has savings for air bags, good student, seat belt use, anti-lock brakes, daytime running lights, emergency military deployment, and multi-vehicle.
- 21st Century offers premium reductions for homeowners, automatic seat belts, good student, teen driver, and early bird.
- Progressive may offer discounts for online signing, multi-vehicle, continuous coverage, multi-policy, online quote discount, good student, and homeowner.
When getting a coverage quote, ask every insurance company which credits you are entitled to. Some discounts listed above may not be available in Minneapolis. To choose insurers that provide some of the discounts listed above in Minnesota, follow this link.
Components of Your Mazda MX-5 Miata Insurance Premiums
Many different elements are used when quoting car insurance. Some are pretty understandable such as traffic violations, although some other factors are less apparent such as your credit history and annual miles driven. The best way to find cheaper auto insurance is to take a look at the factors that play a part in calculating the price you pay for auto insurance. If you know what controls the rates you pay, this enables informed choices that can help you get lower auto insurance prices.
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Performance makes a difference – The type of vehicle you are insuring makes a huge difference in determining your rates. Smaller low performance passenger models generally receive the lowest base rates, but that’s not the only thing that factors into the final price.
The following data assumes a married female driver age 50, full coverage with $1000 deductibles, and no discounts or violations. The data compares Mazda MX-5 Miata car insurance rates compared to other models of vehicles that have different performance rating factors.
- Higher rates for demanding vocations – Do you work in a high-stress field? Occupations such as real estate brokers, business owners, and stock brokers have higher rates than average because of intense work-related stress and long work days. Other careers such as farmers, athletes and performers receive lower rates.
- Safer cars save money – Safe vehicles can get you lower premiums. Highly rated vehicles help reduce the chance of injuries in an accident and lower rates of occupant injuries translates into savings for insurance companies and thus lower rates.
- Liability insurance limits should be high – Your auto insurance policy’s liability coverage provides coverage in the event that a court rules you are at fault for causing damage or personal injury in an accident. Your liability coverage provides for a legal defense starting from day one. This coverage is relatively inexpensive when compared with rates for comp and collision, so buy as much as you can afford.
- If you don’t need it don’t buy it – Policies have extra bells and whistles that you can get tricked into buying on your MX-5 Miata policy. Coverages for roadside assistance, high-cost glass coverage, and additional equipment coverage could be just wasting money. These coverages may sound good when talking to your agent, but your needs may have changed so consider taking them off your policy.
- Prevent your car from being stolen – Owning a car with anti-theft technology or alarm system can help lower your premiums. Advanced theft deterrents like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help prevent car theft.
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Mazda MX-5 Miata historical loss data – Insurers include the past claim trends for vehicles when determining insurance rates. Vehicles that tend to have higher claim frequency or loss amount will have increased rates. The data below shows the historical loss data for Mazda MX-5 Miata vehicles.
For each policy coverage type, the statistical loss for all vehicles combined as an average is represented as 100. Values that are below 100 suggest a positive loss record, while numbers shown that are more than 100 point to more losses or an increased likelihood of larger losses.
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 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Car insurance quotes from neighborhood Minneapolis auto insurance agents
Many drivers would prefer to get professional advice from a licensed agent and that is recommended in a lot of cases Professional insurance agents can point out coverage gaps and help submit paperwork. An additional benefit of getting online price quotes is that you can obtain cheaper premium rates and still buy from a local agent. Buying from and supporting local agents is important particularly in Minneapolis.
After filling out this quick form, the coverage information is submitted to participating agents in Minneapolis who will give competitive quotes for your car insurance coverage. It’s much easier because you don’t need to search for an agent because quoted prices will be sent directly to your email. If for some reason you want to compare rates from a particular provider, don’t hesitate to search and find their rate quote page and complete a quote there.
If you’re trying to find an insurance agent, it can be helpful to understand the different types of agents to choose from. Car insurance agents can either be exclusive agents or independent agents. Both types of agents can sell car insurance policies, but it’s important to point out the subtle differences because it can factor into the kind of agent you use.
Independent Car Insurance Agencies
Independent insurance agents are normally appointed by many insurers so they have the ability to put coverage with many different companies and get the cheapest rates. If your premiums go up, an independent agent can move your coverage which requires no work on your part. If you are comparing car insurance prices, we highly recommend that you get rate quotes from a few independent agents to have the best price comparison. Most also have access to different regional companies which can be an advantage.
Listed below are independent agents in Minneapolis that may be able to provide rate quotes.
- Insurance Advantage Agency LLC
7600 Parklawn Ave #350 – Minneapolis, MN 55435 – (952) 746-5770 – View Map - Semlak Miernicki Insurance Agency
2657 Dupont Ave S – Minneapolis, MN 55408 – (612) 208-0873 – View Map - RJF Agencies, Inc.
7225 Northland Dr N #300 – Minneapolis, MN 55428 – (763) 746-8000 – View Map
Exclusive Agencies
These agents are contracted to one company like Allstate, State Farm and Farmers Insurance. These agents are unable to compare rates from other companies so always compare other rates. Exclusive agents are highly trained on their company’s products which aids in selling service over price. Drivers often buy from exclusive agents mostly because of the brand legacy rather than low price.
Shown below is a short list of exclusive agents in Minneapolis that can give you price quotes.
- Farmers Insurance – Mark Hansen
6001 Portland Ave – Minneapolis, MN 55417 – (612) 869-7760 – View Map - Allstate Insurance: Lois A. Castaneda
127 W Grant St, # C – Minneapolis, MN 55403 – (612) 871-6830 – View Map - Nathan Dao – State Farm Insurance Agent
220 South 6th St #180 – Minneapolis, MN 55402 – (612) 338-6422 – View Map
Picking an insurance agency needs to be determined by more than just a cheap price. Any good agent in Minneapolis should know the answers to these questions.
- Do they specialize in personal lines coverage in Minneapolis?
- Will the agent or a CSR service your policy?
- Do they reduce claim amounts on high mileage vehicles?
- Is the agent and/or agency licensed to do business in Minnesota?
- What company holds the largest book of business for them?
- How many companies do they write for?
Minneapolis car insurance company ratings
Choosing a good quality insurance provider can be a challenge considering how many companies provide coverage in Minneapolis. The company ratings displayed below can help you decide which companies to look at comparing rates from.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Titan Insurance | 89 | 91 | 83 | 86% | A+ | 89.3 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| Mercury Insurance | 87 | 95 | 87 | 84% | A+ | 88.3 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
| Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
| Farmers Insurance | 79 | 88 | 84 | 87% | A | 84.7 |
| The General | 88 | 80 | 85 | 80% | A- | 84.5 |
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Data Source: Insure.com Best Car Insurance Companies
Smart consumers save more
Consumers switch companies for a number of reasons such as denial of a claim, questionable increases in premium, high rates after DUI convictions and even an unsatisfactory settlement offer. Regardless of your reason for switching companies, finding a great new company is not as hard as you think.
As you restructure your insurance plan, it’s very important that you do not buy less coverage just to save a little money. In too many instances, an insured dropped uninsured motorist or liability limits and found out when filing a claim that the savings was not a smart move. The ultimate goal is to get the best coverage possible at the best cost and still be able to protect your assets.
Cost effective Mazda MX-5 Miata insurance can be found on the web as well as from insurance agents, so you need to quote Minneapolis auto insurance with both to have the best selection. There are still a few companies who do not offer the ability to get quotes online and many times these smaller providers only sell coverage through independent agents.
How to find affordable Mazda MX-5 Miata insurance in Minneapolis
The easiest way to get discount car insurance rates in Minneapolis is to start comparing prices yearly from companies who can sell car insurance in Minnesota. Rates can be compared by following these guidelines.
- Take a little time to learn about how insurance works and the things you can change to prevent rate increases. Many things that result in higher prices such as traffic violations and an imperfect credit rating can be eliminated by making lifestyle changes or driving safer.
- Compare prices from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from a single company like GEICO or State Farm, while independent agencies can provide rate quotes from multiple insurance companies.
- Compare the price quotes to your current policy to determine if you can save on MX-5 Miata insurance. If you find better rates and make a switch, ensure coverage does not lapse between policies.
- Tell your current agent or company of your intent to cancel your existing policy and submit a completed application and payment for your new coverage. As soon as you have the new policy, safely store the proof of insurance certificate with your registration paperwork.
One key aspect when comparing rates is to make sure you enter identical coverage information on every price quote and and to get price quotes from as many different companies as possible. Doing this provides a level playing field and a complete price analysis.
Helpful resources
- Distracted Driving Statistics (Insurance Information Institute)
- How Much is Car Insurance for Drivers Over Age 50 in Minneapolis? (FAQ)
- What Insurance is Cheapest for Single Moms in Minneapolis? (FAQ)
- What Auto Insurance is Cheapest for a Company Car in Minneapolis? (FAQ)
- Understanding Rental Car Insurance (Insurance Information Institute)
- Neck Injury FAQ (iihs.org)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)