When it comes to the iconic NA Miata, enthusiasts can’t help but revel in the sheer joy of driving this classic sports car. However, beyond the thrill of the road, there’s a practical aspect that every Miata owner should consider – insurance costs. In this guide, we’ll look into the various factors that influence NA Miata insurance costs, providing valuable insights, tips, and real-world examples to help you navigate the world of insurance with confidence.
Na Miata Insurance Cost
Each vehicle model has unique features and these differences, combined with driver and location characteristics, mean that no two Mazda auto insurance premiums are the same. Nationally, the average cost of car insurance is $2,014 per year for full coverage, which is about $168 per month, and the average minimum coverage policy costs $622 per year or about $52 per month.
To evaluate the average cost of car insurance for this make, we analyzed average rate data from Quadrant Information Services for two popular Mazda models: the Miata and Mazda3. However, your rates are likely to vary from these averages. Trim packages, safety features, cost of parts and labor and theft risk are just some of the factors influencing insurance costs.
Factors Influencing Na Miata Insurance Cost
Age and Driving Experience: Insurance premiums often vary based on the driver’s age and experience. Younger and less experienced drivers may face higher costs.
Location and Regional Variations: Your geographical location plays a role in insurance costs. Regions with higher accident rates or crime may see increased premiums.
Model Year and Modifications: Newer models may have higher replacement costs. Modifications, while enhancing performance, can impact insurance rates.
Safety Features and Anti-Theft Devices: Cars equipped with advanced safety features may qualify for discounts. Anti-theft devices can lower the risk of theft and reduce premiums.
Cheapest car insurance companies for Mazdas
Although average insurance rates are lower than the national average for the Mazda models we analyzed, getting quotes from several providers to compare rates and benefits may help you find the most affordable rates. Additional trim packages offering high-end features can increase the MSRP and may drive up the cost of comprehensive and collision insurance since these features typically cost more to repair at the time of a loss.
Other car insurance coverage for Mazda
Although most states only require a minimum amount of liability insurance coverage, many insurance experts recommend purchasing additional coverage types and higher limits for more financial protection in the event of an accident or other covered incident.
If you finance or lease your Mazda, you will likely be required to purchase full coverage insurance. Even if you do not finance your new Mazda, you may want to consider these additional coverage options:
- Collision insurance: Included in full coverage car insurance, this covers damage sustained if you hit another vehicle or stationary object with your car.
- Comprehensive insurance: This type of coverage protects your car from damage not caused by collisions with other vehicles. For example, theft, vandalism, weather, or damage from striking an animal are all covered by comprehensive insurance.
- Gap insurance: This coverage will pay the difference between your claim payout of the depreciated value of your Mazda and your outstanding loan or lease amount if your Mazda is totaled and the depreciated value is less than what you owe on the vehicle loan.
- OEM parts insurance: If your car gets damaged, you typically have the option to use original equipment manufacturer (OEM) parts or aftermarket parts that might be cheaper, but aren’t made by Mazda. This coverage will pay for the cost of OEM parts if your car needs to be repaired.
- Rental car reimbursement: This optional coverage may be worth considering if you only have access to one vehicle. This coverage would pay for your rental car while your car is in the shop to repair damage from a covered claim.
Managing Na Miata insurance costs requires a multifaceted approach. From understanding the influencing factors to exploring cost-saving strategies, this guide equips readers with the knowledge needed to navigate the complex world of insurance with confidence. Whether you’re a prospective NA Miata owner or a seasoned enthusiast, making informed insurance decisions is a crucial aspect of enjoying the exhilarating Miata experience.
FAQs About Na Miata Insurance:
Q1: Are NA Miatas more expensive to insure compared to other sports cars?
While sports cars generally have higher insurance costs, the NA Miata’s reputation for reliability and safety features can offer some cost-saving advantages.
Q2: How can I lower my NA Miata insurance premiums?
Consider defensive driving courses, bundling insurance policies, and implementing storage and security measures. These strategies can contribute to lower premiums.
Q3: Do modifications impact NA Miata insurance costs?
Yes, modifications can affect insurance costs. It’s essential to inform your insurer about any modifications, as they may impact coverage and premiums.
Q4: Is vintage NA Miata insurance different from newer models?
Yes, vintage NA Miatas may have different insurance considerations. Preserving classic car status and understanding the implications for older models is important.
Q5: How do driving habits influence NA Miata insurance premiums?
Driving frequency and habits can impact premiums. Telematics and usage-based insurance policies offer opportunities for reduced premiums based on actual driving behavior.