Are Your Mazda Protege 5 Car Insurance Rates Too High?

Tired of scraping the payment together to insure your Mazda every month? You are no different than millions of other consumers. Drivers have multiple insurance companies to choose from, and although it’s nice to be able to choose, it can be more difficult to get the best deal.

Mazda Protege 5 rates are complex

An important part of buying insurance is that you know the different types of things that help determine car insurance rates. Having a good understanding of what influences your rates empowers consumers to make smart changes that can help you get much lower annual insurance costs.

• Drive less and save money – Driving more miles each year the more you will pay for car insurance. Almost all companies charge to insure your cars based on their usage. Cars and trucks that are left in the garage qualify for better rates as compared to vehicles used primarily for driving to work. If your policy improperly rates your Protege 5 may be wasting your money. Verify your car insurance coverage shows the proper vehicle usage.
• Liability insurance protects assets – The liability section of your policy is the coverage that protects you if you are found liable for causing damage or personal injury in an accident. It will provide legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so drivers should carry high limits.
• The type of vehicle makes a difference – The performance of the vehicle you own makes a significant difference in how high your rates are. The most favorable rates tend to be for lower performance four cylinder passenger models, but the final cost of insurance is determined by many other factors. Since the Mazda Protege 5 is considered a sedan, insuring your vehicle will cost about the same compared to average rates.
• Bump up deductibles to save – Physical damage insurance, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your Mazda. A few examples of covered claims could be collision with another vehicle, collision with an animal, and burglary. The deductibles are how much you are required to spend out-of-pocket before a claim is paid by your company. The more you have to pay, the bigger discount you will receive for Protege 5 insurance.
• Bundling policies can get discounts – Some insurance companies will give a discount to policyholders who buy several policies from them, otherwise known as a multi-policy discount. Even if you’re getting this discount you may still want to shop around to verify if the discount is saving money. Drivers may still find a better deal by insuring with multiple companies.
• Theft deterrents lower rates – Purchasing a vehicle that has an advanced theft prevention system can help lower your rates. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping your car from being stolen.
• Where you live – Residing in a rural area has it’s advantages when talking about car insurance. Drivers in populated areas have congested traffic and longer commutes to work. Fewer people means a lower chance of having an accident and also fewer theft and vandalism claims.

Verify you’re getting all your discounts

Companies offering auto insurance don’t always publicize all available discounts in an easy-to-find place, so we break down some of the best known and the more hidden discounts you could be receiving. If they aren’t giving you every credit you deserve, you’re just leaving money on the table.

• Discount for New Cars – Buying coverage on a new vehicle is cheaper due to better safety requirements for new cars.
• Resident Student – Kids in college who attend school more than 100 miles from home without a vehicle on campus can be insured at a reduced rate.
• Employee of Federal Government – Employees or retirees of the government may qualify you for a discount for Protege 5 insurance with a few car insurance companies.
• Homeowners Discount – Owning a home can help you save on car insurance due to the fact that maintaining a home requires personal responsibility.
• Military Rewards – Being on active duty in the military may qualify for rate reductions.
• Drivers Ed for Students – Cut your cost by having your teen driver complete a driver education course if it’s offered in school.
• More Vehicles More Savings – Buying coverage for multiple cars or trucks on the same car insurance policy qualifies for this discount.
• Early Signing – A few companies offer discounts for switching policies prior to your current policy expiration. This can save 10% or more.

A little note about advertised discounts, many deductions do not apply to the overall cost of the policy. The majority will only reduce the cost of specific coverages such as medical payments or collision. Just because it seems like adding up those discounts means a free policy, you won’t be that lucky.

Do you really save 40% when you switch?

Consumers constantly see and hear ads that promise big savings from companies such as 21st Century, Allstate and State Farm. They all have a common claim that you can save if you change your policy.

How can each company make the same claim?

All companies have a certain “appetite” for the driver that earns them a profit. An example of a preferred risk might be between the ages of 30 and 50, has no prior claims, and drives newer vehicles. A propective insured who matches those parameters will get very good rates and therefore will cut their rates substantially.

Potential customers who don’t measure up to the requirements will be charged a higher premium and ends up with business not being written. Company advertisements say “drivers who switch” not “everybody who quotes” save that much money. This is how insurance companies can state the savings. That is why you need to compare many company’s rates. It’s impossible to know which car insurance company will provide you with the cheapest rates.

Quote more, save more

As you prepare to switch companies, do not buy less coverage just to save a little money. In too many instances, an insured cut liability limits or collision coverage only to regret at claim time that a couple dollars of savings turned into a financial nightmare. Your goal should be to buy enough coverage at the best price while still protecting your assets.

Cost effective Mazda Protege 5 insurance is available on the web in addition to many insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money. Some companies do not provide online price quotes and these small insurance companies work with independent agents.