Car Insurance for Mazda Miata


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UPDATED: 2021-08-24T00:38:27.027Z
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A photo of a red Mazda Miata (Mazda MX-5) parked on the side of the road.

The Mazda Miata has been a driver favorite since its first appearance on the market in 1989. With its small, sporty body, this two-seater convertible is fun to drive, fuel-efficient, and very reliable. If you’re in the market for a new car and are considering a Miata, you’ll want to know what to expect when it comes to insuring your car.

This guide will help with just. We’ll break down everything you need to know about insuring your Miata with the best car insurance. We've included the different types of car insurance, the factors that influence the cost of insuring your Miata, and insurance upgrades to consider.

Once you’re ready to find the best car insurance rates for your Mazda Miata, you can enter your ZIP code above to find multiple quotes near you.

Now, here is our guide for car insurance for Mazda Miata.

Types of Car Insurance for Mazda Miata

There are several options you can consider for insurance on your Mazda Miata. Keep in mind that where you live and your lender — if you took out a loan to purchase your car — might have specific requirements for insurance that you’ll need to abide by.

While there are many upgraded insurance options out there, here are the five most common types of car insurance.

Liability

Liability car insurance is a basic insurance requirement for almost every state. It covers injuries and damage to others and their property if you are at fault in an accident. You’ll want to make sure that your liability coverage includes both bodily injury and property damage, or you might be left with a hefty bill if you cause an accident with your Mazda Miata.

  • Average cost – The average cost for liability insurance only was about $644.11 per year between 2014–2018.
  • Benefits – Liability insurance is less expensive and offers protection if you own an older or cheaper car. If the car’s value is less than you pay in insurance costs, you’ll likely be wasting money paying for more expensive coverage.

Personal injury protection

Personal injury protection pays for some of your medical expenses if you’re injured in a car accident. In some cases, it will also help pay for costs related to your injuries, such as lost wages.

  • Average cost – The average cost of adding personal injury protection to your insurance plan ranges from about $110 – $150 per year.
  • Benefits – For a relatively low monthly cost, personal injury protection can be beneficial if you are seriously injured in an accident. It can even help provide payments for legal fees, lost wages, child care, and other costs related to your injuries.

Uninsured and underinsured motorist

If you get into an accident caused by an uninsured motorist, then this coverage may pay for your medical bills and needed repairs to your Mazda Miata. It’s important to note that uninsured and underinsured motorist coverage only applies if you weren’t at fault in the accident.

  • Average cost – The yearly cost of coverage ranges widely depending on your state and the level of coverage you purchase. You can expect to pay somewhere between $10 – $70 per year.
  • Benefits – This coverage is relatively inexpensive. The Insurance Research Council estimates that one in every eight drivers is uninsured. If you don’t have uninsured motorist coverage, you could be left with high medical and repair bills.

Collision coverage

Collision coverage is not required in most states, but if you have a valuable vehicle, it might be worth investing in. This type of coverage pays for repairs or car replacement if you are in an accident. It also can help pay for repairs if you’re in an accident where you hit a stationary object like a pole or tree.

  • Average cost – The average cost for collision coverage is about $377 per year.
  • Benefits – Collision coverage can help you recover your losses if your car is totaled in an accident. It can be a little pricier to add to your policy than some of the other options, but if you own an expensive car, it will help ensure you can afford to replace it.

Comprehensive coverage

Comprehensive coverage is often required when you purchase a car and take out a loan. This coverage reimburses you for a loss or damage caused by fire, weather, theft, vandalism, and anything else that isn’t done by a collision with another car. If you’re worried about the additional cost, you can choose a plan with a higher deductible to help lower your premium for your Mazda Miata.

  • Average cost – The average cost of comprehensive coverage is about $167.91 per year. However, it’s important to know that some states have significantly higher rates.
  • Benefits – If you cannot afford to pay out-of-pocket replacement expenses, especially on a vehicle for which you owe a significant amount of money, comprehensive coverage offers solid protection against loss.

Full coverage

Finally, there is full coverage insurance. This includes liability, comprehensive, and collision coverage. If you want to make sure you’re completely protected in case of an accident, own a new car, or want to drive worry-free, you may want to consider full coverage insurance.

  • Average cost – The average cost of full coverage insurance is $1,056 per year.
  • Benefits – You’ll have fewer worries about driving with full coverage insurance. It’s more expensive but worth it if you don’t want to pay for out-of-pocket expenses.

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Factors that influence the cost of car insurance for a Mazda Miata

The good news for Mazda Miata owners is the annual cost to insure your car is about $345 less than the average for other vehicles. You can expect to pay about $475 per year for liability coverage only. Full coverage will cost about $1,200 per year. However, these costs are just averages. Your actual cost will vary depending on many factors.

As a Mazda owner, some things your insurer will take into account when generating a quote for your policy include vehicle features, location, demographic information, and your driving history.

Vehicle features

Newer models of the Mazda Miata have enhanced safety features, such as lane departure alerts, smart brakes, intuitive lighting, and blind-spot monitoring. These features lessen your likelihood of getting in an accident, thus lowering your insurance policy’s premium.

Location

Some states, such as New York, Florida, Louisiana, and Michigan, have high insurance costs, while Indiana, Iowa, and Wisconsin have some of the lowest in the nation. Not only will the state you live in impact your cost but so will living in a city versus a rural area. Insurance companies will also consider things like parking on the street, which is riskier than parking in a garage.

Driver demographics

Your age, gender, marital status, and occupation will also influence the price of insurance. For example, young, single males are considered higher-risk drivers than middle-aged, married women.

Driver’s driving history

Finally, your driving history will have a significant impact on the price of your auto insurance. If you have a clean driving record, you’ll pay less than someone who has accidents or traffic violations on their record.

Additional insurance types and upgrades to consider

There are a few insurance upgrades Mazda Miata owners may want to consider adding to their insurance policies.

Gap insurance

If your car is totaled in an accident, comprehensive and collision coverage will pay for the car’s current value. However, if the value is less than you owe, you’ll have to pay back the difference to your lender.

Gap insurance, or guaranteed auto protection, is a good choice if you owe a large sum of money on your auto loan. It will cover the amount of money you owe if the loan exceeds the car’s cash value.

New car replacement

New car replacement is also helpful protection to have if you have a newer model expensive car. It will pay you money for a new vehicle that is the same make and model as your vehicle, instead of only providing you with cash for the depreciated value of your car.

One important thing to note is that new car replacement coverage cannot be combined with gap insurance. Since both protect you from a loss of value in your car, having both coverages would be redundant.

Accident forgiveness

Some insurers offer accident forgiveness. This allows drivers to relax, knowing that their insurance rates won’t skyrocket if they have one accident. It only protects rates from increasing after the first at-fault accident. Additional accidents will still result in penalties.

Sometimes, maintaining a clean driving record will result in your insurance company simply adding this to your policy as a reward without charging you an additional premium.

Find the best insurance rates for your Mazda Miata

Now that you know about the different types of insurance and the factors that go into determining your insurance rates, it’s time to gather quotes. Your top resource for quick, free quotes on car insurance for Mazda Miata is Clearsurance.

We can provide you with accurate information to enable you to make the best decision about your automobile insurance. Get started today by entering your ZIP code to find affordable Mazda Miata car insurance rates.

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References:


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