If you’re searching for cheaper insurance online, are you confused by the crazy number of auto insurance companies in Denver? There are so many options that it can easily turn into a real hassle to find the lowest price for Mazda MX-5 Miata insurance in Denver. Everyone knows that Denver is an excellent city in which to live, but pricey auto insurance can make it impossible to afford coverage.
Shockingly, most auto insurance policyholders have been with the same company for over three years, and approximately 38% of consumers have never quoted auto insurance rates at all. Many drivers in Colorado could save 35% every year by just comparing rate quotes, but they don’t believe the actual amount they would save if they moved their coverage to a different company.
The purpose of this post is to introduce you to the best methods to compare rates and how you can save the most money. If you have insurance now, you should be able to reduce premiums using these tips. But Colorado consumers must comprehend how insurance companies sell insurance online because rates fluctuate considerably.
The quickest way to compare car insurance rates for Mazda MX-5 Miata insurance in Denver takes advantage of the fact most larger insurance companies actually pay money for the chance to compare their rates. All you need to do is provide a small amount of information including how much school you completed, how your vehicles are used, your general credit rating, and if you’re married. The data is submitted instantly to multiple insurance providers and you get price estimates within a short period of time.
To get price quotes for your car now, click here and enter your zip code.
The companies shown below offer comparison quotes in Colorado. If more than one company is shown, we suggest you visit several of them to find the most affordable auto insurance rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $292 | $552 | $404 | $24 | $120 | $1,392 | $116 |
| MX-5 Miata Touring 2-Dr Convertible | $216 | $424 | $362 | $22 | $108 | $1,132 | $94 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $252 | $368 | $392 | $24 | $118 | $1,154 | $96 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Rate information does not factor in zip code location which can change insurance rates noticeably.
Choosing deductibles
The diagram below demonstrates how deductible levels and can change Mazda MX-5 Miata premium costs for different age groups. The data assumes a married female driver, comp and collision included, and no additional discounts are factored in.
Full coverage rates compared to liability-only
The illustration below visualizes the comparison of Mazda MX-5 Miata car insurance costs with and without physical damage coverage. The price estimates are based on no claims or violations, $250 deductibles, married male driver, and no discounts are factored in.
Should you pay for full coverage or liability only?
There is no definitive formula for eliminating physical damage coverage, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.
For example, let’s say your Mazda MX-5 Miata claim settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, you would only receive $6,000 after paying the physical damage deductible. If it’s costing you more than $600 a year for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
There are some cases where eliminating full coverage is not in your best interest. If you still owe a portion of the original loan, you are required to maintain full coverage in order to keep the loan. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not consider dropping full coverage.
Three reasons insurance is important
Even though it’s not necessarily cheap to insure a Mazda in Denver, paying for insurance serves several important purposes.
- The majority of states have minimum mandated liability insurance limits which means you are required to buy a minimum amount of liability insurance coverage if you want to drive legally. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you have a loan on your Mazda, it’s most likely the lender will require that you carry insurance to guarantee their interest in the vehicle. If you let the policy lapse, the lender will be forced to insure your Mazda at a much higher rate and require you to pay the higher premium.
- Insurance preserves not only your vehicle but also your assets. It also can pay for many types of medical costs for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, also covers legal expenses if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of insuring your MX-5 Miata outweigh the cost, specifically if you ever have a liability claim. Today the average American driver is currently overpaying as much as $700 annually so it’s recommended you shop around every year to ensure rates are inline.
Save 15 percent in 15 minutes? Is it for real?
Respected companies like Allstate, GEICO and Progressive endlessly run ads in print and on television. All the companies advertise claims that drivers can save some big amount if you change your car insurance coverage to their company. But how can every company charge less that you’re paying now? It’s all in the wording.
Car insurance companies can use profiling for the type of customer that will not have excessive claims. An example of this type of risk profile could possibly be a married female, has no tickets, and has a high credit rating. Anybody who fits those characteristics will most likely get cheap rates and as a result will probably save if they switch.
People who fall outside these stringent criteria will probably be forced to pay a more expensive rate with the end result being the prospect going elsewhere. Company advertisements say “people that switch” not “everyone who quotes” save that kind of money. That’s the way companies can truthfully make those claims.
That is why you really need to compare as many free Denver car insurance quotes as you can. It’s just not possible to know which insurance companies will have the lowest Mazda MX-5 Miata insurance in Denver.
These discounts can lower your insurance quotes
Companies offering auto insurance don’t always advertise the entire discount list very clearly, so we break down some of the best known and also the lesser-known discounts that you can inquire about if you buy Denver car insurance online.
- Discount for Passive Restraints – Factory options such as air bags or motorized seat belts may earn rate discounts up to 30%.
- Auto/Home Discount – If you insure your home and vehicles with the same insurance company you could earn a discount of approximately 10% to 15%.
- Driver’s Education for Students – It’s a good idea to have your young drivers complete a driver education course as it can save substantially.
- Accident-Free Discounts – Denver drivers who stay claim-free have much lower rates as compared to insureds who have frequent claims or accidents.
- Student in College – Children living away from Denver attending college and do not have a car may be insured at a cheaper rate.
- Good Grades Discount – Being a good student can earn a discount of 20% or more. Most companies allow this discount up until you turn 25.
- Government Employees – Federal government employees can earn a discount up to 10% with select insurance companies.
It’s important to note that some credits don’t apply to the entire cost. Most only cut individual premiums such as comp or med pay. Even though it appears all those discounts means the company will pay you, nobody gets a free ride.
Some of the insurance companies that have many of the previously listed discounts possibly include:
Check with every prospective company to apply every possible discount. A few discounts might not be offered on policies in Denver.
Can’t I compare rate quotes from local Denver insurance agents?
Certain consumers prefer to visit with an insurance agent and that is a personal choice. One of the great benefits of comparing insurance prices online is the fact that you can find better rates and still have a local agent. And providing support for small agencies is especially important in Denver.
Once you complete this quick form, the quote information is instantly submitted to insurance agents in Denver who will return price quotes for your insurance coverage. You never need to search for an agent since rate quotes are delivered to you directly. You can find the lowest rates without the usual hassles of price shopping. If you need to get a comparison quote from one company in particular, feel free to find their quoting web page to submit a rate quote request.
What types of car insurance agents are in Denver?
If you are wanting to find a reliable agent, it’s helpful to know the types of agencies and how they differ in how they quote coverages. Auto insurance policy providers are classified as either exclusive or independent (non-exclusive).
Independent Auto Insurance Agents (or Brokers)
Agents in the independent channel do not sell for just one brand and that enables them to quote your coverage with any number of different companies and get the cheapest rates. If you want to switch companies, your agent can switch companies and you don’t have to do anything. When shopping rates, we highly recommend that you check rates from a couple of independent agencies for maximum quote selection. Most can insure with less well-known companies which could offer lower prices.
Shown below is a list of independent agents in Denver that may be able to give you price quote information.
- Moschetti Michael – Isu Insurance Svc Of Co
950 17th St #1000 – Denver, CO 80202 – (303) 534-2133 – View Map - Moody Insurance Agency
8055 E Tufts Ave #1000 – Denver, CO 80237 – (303) 824-6600 – View Map - All Insurance Agency
67 Knox Ct – Denver, CO 80219 – (303) 935-3661 – View Map
Exclusive Auto Insurance Agents
Agents that elect to be exclusive have only one company to place business with and some examples include State Farm, Allstate, or Farmers Insurance. Exclusive agencies are unable to give you multiple price quotes so if the price isn’t competitive there isn’t much they can do. They are very knowledgeable on what they offer and that allows them to sell at a higher price point. Some people will only buy from exclusive agents mainly due to the brand rather than low rates.
Shown below is a list of exclusive agents in Denver that can give you price quote information.
- Hiram Licea – State Farm Insurance Agent
3600 Morrison Rd – Denver, CO 80219 – (303) 935-7475 – View Map - Stephanie Sponder – State Farm Insurance Agent
671 E 19th Ave – Denver, CO 80203 – (303) 744-0757 – View Map - Bao Ngoc Nguyen – State Farm Insurance Agent
1699 S Federal Blvd b – Denver, CO 80219 – (303) 975-1100 – View Map
Finding a good insurance agency should include more criteria than just a cheap price. You should also get answers to these questions.
- Do they have designations such as AIC, CPCU, or CIC?
- How is replacement cost determined on your vehicle?
- What is the financial rating for the quoted company?
- How are they compensated?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Does the company allow you to choose your own collision repair facility?
If you receive positive responses to your questions and locked in a price quote, you may have just found a car insurance agent that meets the criteria to properly insure your vehicles.
When should I discuss my situation with an agent?
When it comes to choosing the best car insurance coverage, there really is no “best” method to buy coverage. Coverage needs to be tailored to your specific needs and your policy should reflect that.
Here are some questions about coverages that may help highlight if your insurance needs could use an agent’s help.
- Does coverage extend to a rental car in a foreign country?
- Is a blown tire covered by insurance?
- What is medical payments coverage?
- If I drive on a suspended license am I covered?
- Should I buy only the required Colorado minimum liability coverage?
- Am I covered when driving someone else’s vehicle?
- Does coverage extend to my business vehicle?
- Does liability extend to a camper or trailer?
- Do I need PIP (personal injury protection) coverage in Colorado?
- How much liability coverage do I need in Colorado?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area.
More effort can pay off
We covered quite a bit of information on how to compare Mazda MX-5 Miata insurance rates in Denver. It’s most important to understand that the more rate comparisons you have, the more likely it is that you will get a better rate. Drivers may even discover the most savings is with an unexpected company. These companies often have lower car insurance rates on specific markets compared to the large companies like State Farm, GEICO and Nationwide.
As you go through the steps to switch your coverage, you should never skimp on coverage in order to save money. There are many occasions where drivers have reduced full coverage only to regret at claim time that the small savings ended up costing them much more. Your goal is to find the BEST coverage at the best price, but don’t skip important coverages to save money.
To read more, take a look at the resources below:
- Collision Insurance Coverage (Nationwide)
- How Much is Auto Insurance for Ride Shares in Denver? (FAQ)
- How do I File a Claim? (Insurance Information Institute)
- Teen Driver Licensing Information (iihs.org)