If you are new to getting Louisville auto insurance quotes online, chances are good that you are overwhelmed by the large number local agents and online companies vying for business in Louisville.
Smart shoppers know that insurance companies don’t want customers comparing rates. Insureds who do rate comparisons are highly likely to buy a different policy because there is a significant possibility of finding coverage at a cheaper rate. Surprisingly, a recent survey revealed that drivers who made a habit of comparing rate quotes saved over $860 a year compared to policyholders who don’t regularly compare prices.
If finding budget-friendly auto insurance in Louisville is the reason for your visit, then having an understanding of how to find and compare insurance coverage can make shopping around easier.
Insurance discounts help lower rates for Mazda MX-5 Miata insurance in Louisville
The cost of insuring your cars can be expensive, but there could be significant discounts that can dramatically reduce your bill. Certain credits will be shown when you complete an application, but once in a while a discount must be asked about before you will receive the discount. If you aren’t receiving every discount available, you are not getting the best rate possible.
- Theft Deterrent Discount – Cars optioned with advanced anti-theft systems are less likely to be stolen and therefore earn up to a 10% discount.
- Defensive Driver Discount – Passing a defensive driver class could save 5% or more if your company offers it.
- Bundle and Save – If you have multiple policies and insure them with the same company you may save up to 20% off your total MX-5 Miata insurance premium.
- Own a Home and Save – Owning a house in Louisville can save a few bucks since owning and maintaining a home shows financial diligence.
- Multiple Cars – Having multiple cars with the same company can get a discount for every vehicle.
- Low Mileage Discounts – Driving fewer miles can qualify you for substantially lower insurance rates.
Policy discounts save money, but most discounts do not apply to the overall cost of the policy. A few only apply to specific coverage prices like collision or personal injury protection. Despite the appearance that all those discounts means the company will pay you, companies don’t profit that way. But any discount will definitely reduce the premium cost.
The example below illustrates the comparison of Mazda MX-5 Miata annual premium costs with and without discounts applied. The data is based on a female driver, no violations or claims, Kentucky state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, safe-driver, homeowner, claim-free, and marriage discounts applied.
Companies that have most of these discounts possibly include:
Before buying, ask each insurance company which credits you are entitled to. All car insurance discounts may not apply to policies in Louisville.
The easiest way to compare rates for Mazda MX-5 Miata insurance in Louisville is to know the fact almost all companies allow for online access to compare their rates. The only thing you need to do is spend a couple of minutes providing details like your credit rating estimate, how much you drive, if the vehicle is leased, and how much school you completed. Your details is sent automatically to many of the top insurers and you should receive rate quotes immediately.
To check Mazda MX-5 Miata insurance prices now, click here and see if a lower rate is available in Louisville.
The companies shown below are our best choices to provide quotes in Louisville, KY. If you wish to find cheap car insurance in Louisville, KY, it’s highly recommended you visit several of them to find the cheapest car insurance rates.
Mazda MX-5 Miata insurance statistics and information
The rate table shown below showcases a range of policy rates for Mazda MX-5 Miata models. Learning how policy rates are calculated is important for you to make 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 | $210 | $408 | $314 | $18 | $94 | $1,044 | $87 |
| MX-5 Miata Touring 2-Dr Convertible | $242 | $498 | $314 | $18 | $94 | $1,166 | $97 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $242 | $498 | $314 | $18 | $94 | $1,166 | $97 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Rate information does not factor in specific location information which can modify premiums greatly.
An analysis of deductible level
One frequently asked question is which comprehensive and collision deductibles to buy. The rates below can help show the price difference of buying low and high physical damage deductibles. The first set of rates uses a $100 physical damage deductible and the second data table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $244 | $418 | $278 | $16 | $84 | $1,065 | $89 |
| MX-5 Miata Touring 2-Dr Convertible | $280 | $508 | $278 | $16 | $84 | $1,191 | $99 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $280 | $508 | $278 | $16 | $84 | $1,191 | $99 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $178 | $282 | $278 | $16 | $84 | $838 | $70 |
| MX-5 Miata Touring 2-Dr Convertible | $206 | $342 | $278 | $16 | $84 | $926 | $77 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $206 | $342 | $278 | $16 | $84 | $926 | $77 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Premium amounts do not factor in your specific Louisville location which can change auto insurance rates greatly.
Using the premium rates above, we can conclude that using a $100 deductible costs approximately $21 more each month or $252 annually averaged for all MX-5 Miata models than quoting the higher $500 deductible. Since you would have to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you tend to average more than 19 months between claims, you would probably come out ahead if you choose a higher deductible.
Why Your Insurance Costs might be higher
Lots of factors are taken into consideration when you quote your car insurance policy. Some are pretty understandable such as your driving record, but other criteria are not quite as obvious like where you live or your vehicle rating. Part of the insurance buying process is learning the different types of things that go into determining your insurance rates. If you understand what determines base rates, this empowers consumers to make smart changes that will entitle you to lower rates.
Insurance policy lapses raise premiums – Not having insurance is a misdemeanor and insurance companies will penalize you for letting your coverage have a gap. Not only will you pay more, not being able to provide proof of insurance could result in a steep fine or even jail time. You could then be forced to provide proof of insurance in the form of an SR-22 filing with the Kentucky motor vehicle department to get your license reinstated.
If you don’t need it don’t buy it – Insurance policies have a lot of extra coverages that you can buy when buying insurance. Add-on coverages like rental car coverage, accident forgiveness, and extra equipment coverage are probably not needed. These coverages may sound good when talking to your agent, but if they’re wasting money remove them from your policy.
Safer vehicles are cheaper to insure – Cars with high safety ratings get lower rates. Safe vehicles have better occupant injury protection and fewer injuries means less money paid by your insurance company which can result in lower premiums.
Having a spouse can lower prices – Getting married can get you a discount when shopping for insurance. Marriage means you’re more mature and responsible and it’s statistically proven that being married results in fewer claims.
Driving citations drive up prices – Your driving record impacts premiums far more than you think. Just one speeding ticket or other violation can bump up the cost by twenty percent. Drivers who don’t get tickets get better rates than bad drivers. Drivers who have received serious violations like DWI, reckless driving or hit and run convictions may find they need to maintain a SR-22 with the DMV in their state in order to legally drive.
The illustration below shows how violations and accident claims raise Mazda MX-5 Miata premium costs for different ages of insureds. The rates are based on a married female driver, full coverage, $250 deductibles, and no discounts are factored in.
Costs go up with performance – The performance level of the vehicle you need to insure makes a significant difference in determining your rates. The cheapest rates are generally reserved for small economy passenger models, but other factors influence the final cost greatly.
The data below uses these variables: married female driver age 40, full coverage with $1000 deductibles, and no discounts or violations. It compares Mazda MX-5 Miata car insurance rates compared to other models of vehicles that have different risk factors.
Bundle home and auto and save – Some insurers will award lower prices to buyers that have more than one policy such as combining an auto and homeowners policy. The amount of the discounts can be ten percent or more. Even with this discount applied, it’s still a good idea to compare other Louisville MX-5 Miata insurance rates to help guarantee you have the best rates.
GPS tracking and theft deterrents reduce rates – Choosing to buy a car with a theft deterrent system can save you a little every year. Anti-theft features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system help track and prevent your vehicle from being stolen.
Insurance loss data for Mazda MX-5 Miata vehicles – Companies use historical loss data when they file their rates in each state. Models that are shown to have high amounts or severity of claims will cost more for coverage. The table shown below demonstrates the compiled insurance loss statistics for Mazda MX-5 Miata vehicles.
For each type of coverage, the statistical loss for all vehicles compiled together is represented as 100. Values that are 100 or less indicate a favorable loss history, while percentage numbers above 100 point to more claims or larger claims.
| Specific Mazda 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
When should I talk to an agent?
Many drivers would rather visit with an insurance agent and doing so can bring peace of mind A nice benefit of comparing car insurance online is the fact that drivers can get lower prices and also buy local.
Upon completion of this simple form, your coverage information is emailed to participating agents in Louisville that provide free Louisville auto insurance quotes for your coverage. You won’t need to leave your computer since rate quotes are delivered to you instantly. You can find the lowest rates and a licensed agent to talk to. In the event you want to compare prices from a specific company, just find their quoting web page and complete a quote there.
Selecting an company requires you to look at more than just the premium amount. Some important questions to ask are:
- Can you use your own choice of collision repair facility?
- Is their price quote a firm figure or are their hidden costs?
- Where would your vehicle be repaired?
- Has the agent ever had any license suspensions?
- Do they receive special compensation for putting your coverage with one company over another?
Is an exclusive or independent auto insurance agent right for you?
If you want to buy car insurance from a reliable insurance agent, there are a couple of types of insurance agents that you can select. Agencies in Louisville can either be independent or exclusive depending on the company they work for.
Exclusive Insurance Agencies
Exclusive agents can only provide pricing for a single company like State Farm, AAA, Farmers Insurance or Allstate. Exclusive agents cannot provide prices from multiple companies so they are skilled at selling on more than just price. Exclusive agents are usually quite knowledgeable on what they offer which helps them sell insurance even at higher premiums. Consumers often buy from exclusive agents partially due to high brand loyalty rather than having low rates.
The following is a short list of exclusive agents in Louisville that are able to give price quote information.
- Dick Newton – State Farm Insurance Agent
3110 Taylorsville Rd – Louisville, KY 40205 – (502) 458-9543 – View Map - Vince Jarboe – State Farm Insurance Agent
5101 New Cut Rd – Louisville, KY 40214 – (502) 380-3800 – View Map - Bob Dotson – State Farm Insurance Agent
9800 Shelbyville Rd – Louisville, KY 40223 – (502) 339-8086 – View Map
Independent Insurance Agents
Agents that elect to be independent do not have single company limitations and that gives them the ability to insure with multiple insurance companies and help determine which has the cheapest rates. If they quote lower rates, they simply move your policy to a different company and that require little work on your part. When comparing rate quotes, it’s a good idea to get rate quotes from a few independent agents to ensure the widest selection of prices. Most independent agents also contract with mutual insurance companies that may provide cheaper car insurance rates.
Shown below are independent insurance agents in Louisville who can help you get rate quotes.
- A Central Insurance Agency
6708 Shepherdsville Rd – Louisville, KY 40228 – (502) 968-1112 – View Map - Louisville Kentucky Insurance
4500 Dixie Hwy – Louisville, KY 40216 – (502) 447-3711 – View Map - Family Select Insurance
6409 Dutchmans Pkwy – Louisville, KY 40205 – (502) 454-7283 – View Map
Choosing Mazda vehicle insurance is an important decision
Even though it’s not necessarily cheap to insure a Mazda in Louisville, paying for auto insurance is most likely required but also gives you several important benefits.
- Almost all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a minimum amount of liability insurance coverage in order to license the vehicle. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your Mazda MX-5 Miata has a loan, it’s guaranteed your bank will have a requirement that you have insurance to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the bank may insure your Mazda at a significantly higher premium and require you to reimburse them much more than you were paying before.
- Auto insurance preserves not only your vehicle but also your financial assets. Insurance will pay for medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also covers legal expenses if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, your auto insurance policy will cover the repair costs.
The benefits of having insurance more than cancel out the cost, particularly for liability claims. According to a recent study, the average American driver is overpaying more than $865 each year so you should quote your policy with other companies every year to make sure the price is not too high.
Be persistent to save money
Discount Mazda MX-5 Miata insurance in Louisville is definitely available on the web as well as from insurance agents, so you should be comparing quotes from both to have the best chance of lowering rates. Some auto insurance companies don’t offer internet price quotes and many times these small, regional companies only sell through independent agents.
When trying to cut insurance costs, don’t be tempted to sacrifice coverage to reduce premiums. There are a lot of situations where an accident victim reduced physical damage coverage only to regret at claim time that the small savings ended up costing them much more. Your focus should be to buy enough coverage at an affordable rate, but don’t skip important coverages to save money.
Consumers leave their current company for many reasons like high rates after DUI convictions, not issuing a premium refund, policy cancellation or delays in paying claims. Whatever your reason, finding a great new company can be easy and end up saving you some money.
Steps to finding low-cost rates for Mazda MX-5 Miata insurance in Louisville
If your goal is the lowest price, then the best way to find cheaper quotes for Mazda MX-5 Miata insurance in Louisville is to regularly compare prices from different companies in Kentucky.
- Spend a few minutes and learn about how insurance works and the steps you can take to prevent expensive coverage. Many policy risk factors that increase rates like tickets, at-fault accidents, and a less-than-favorable credit rating can be amended by improving your driving habits or financial responsibility.
- Obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from a single company like Progressive and State Farm, while independent agencies can quote rates for a wide range of companies.
- Compare the new rates to your existing rates to see if cheaper MX-5 Miata coverage is available in Louisville. If you find a lower rate quote, make sure there is no lapse between the expiration of your current policy and the new one.
- Provide notification to your current agent or company of your intention to cancel the current policy. Submit a down payment and signed policy application for your new coverage. As soon as you can, keep your new certificate verifying proof of insurance above your visor, in the console, or in the glove compartment.
A tip to remember is to use identical coverages on each quote and to quote with as many carriers as you can. Doing this helps ensure a level playing field and many rates to choose from.
Additional articles
- Rollover Crash FAQ (iihs.org)
- How Much is Auto Insurance for a Nissan Rogue in Louisville? (FAQ)
- How Much are Auto Insurance Rates for Low Credit Scores in Louisville? (FAQ)
- Who Has the Cheapest Louisville Auto Insurance Rates with Multiple Speeding Tickets? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for 4×4 Vehicles in Louisville? (FAQ)
- What to do at the Scene of an Accident (Insurance Information Institute)
- Auto Insurance for Teen Drivers (Insurance Information Institute)