How to Save on San Jose Mazda RX-8 Insurance

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It takes a few minutes, but the best way to get more affordable Mazda RX-8 insurance in San Jose is to make a habit of regularly comparing prices from providers in California.

  • Step 1: Get an understanding of how insurance works and the measures you can control to prevent expensive coverage. Many risk factors that cause high rates such as at-fault accidents, careless driving, and a poor credit score can be remedied by being financially responsible and driving safely. Continue reading for the details to help keep prices low and find additional discounts.
  • Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can provide rates from one company like GEICO or State Farm, while independent agents can quote rates from multiple companies. View a list of agents
  • Step 3: Compare the quotes to the price on your current policy and see if you can save money. If you can save money and make a switch, make sure coverage does not lapse between policies.

The key thing to know about shopping around is to try to compare the same deductibles and limits on each quote request and and to get prices from all possible companies. Doing this provides a level playing field and the best price selection.

Discount Mazda RX-8 insuranceStatistics show that the vast majority of California auto insurance customers have purchased from the same company for more than four years, and practically 40% of auto insurance customers have never compared rates with other companies. Many drivers in America can save hundreds of dollars each year, but they don't understand how simple it is to shop around.

The best way to compare car insurance company rates for Mazda RX-8 insurance in San Jose is to know most of the bigger providers pay for the opportunity to give free rates quotes. To start a quote, the only thing you need to do is give the companies some data such as what your job is, whether or not you need a SR-22, how old drivers are, and your general credit rating. The rating information gets sent immediately to many highly-rated insurers and you receive quotes almost instantly.

To find lower lower-cost Mazda RX-8 insurance rates now, click here then complete the form.

The companies in the list below offer price quotes in California. If multiple companies are listed, it's a good idea that you visit two to three different companies in order to get a fair rate comparison.

Rates and information analytics

The rate table below outlines detailed analysis of coverage costs for Mazda RX-8 models. Being aware of how insurance policy rates are figured can help customers make decisions on the best policy to buy.

Mazda RX-8 Insurance Rates in San Jose, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $318 $502 $456 $26 $136 $1,438 $120
RX-8 Grand Touring 4-Dr Coupe $318 $580 $456 $26 $136 $1,516 $126
RX-8 R3 4-Dr Coupe $318 $580 $456 $26 $136 $1,516 $126
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Prices based on married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Price estimates do not factor in garaging location in San Jose which can modify prices greatly.

Physical damage deductible comparison

When comparing insurance rates, the most common question is how high should the physical damage deductibles be. The figures shown below can help you visualize the cost difference when you choose different insurance deductibles. The first rate estimation uses a $250 deductible for physical damage and the second price grid uses a $500 deductible.

Mazda RX-8 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $430 $678 $442 $26 $132 $1,733 $144
RX-8 Grand Touring 4-Dr Coupe $430 $780 $442 $26 $132 $1,835 $153
RX-8 R3 4-Dr Coupe $430 $780 $442 $26 $132 $1,835 $153
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Mazda RX-8 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $348 $546 $442 $26 $132 $1,494 $125
RX-8 Grand Touring 4-Dr Coupe $348 $630 $442 $26 $132 $1,578 $132
RX-8 R3 4-Dr Coupe $348 $630 $442 $26 $132 $1,578 $132
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Rate quotes do not factor in zip code location which can influence premiums noticeably.

Using the data above, we can ascertain that using a $250 deductible will cost you approximately $20 more each month or $240 each year than quoting the higher $500 deductible. Since the policyholder would be required to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you have more than 13 months between claim filings, you would come out ahead if you choose the higher deductible. The table below shows the way you can make this decision for your own policy.

Average monthly premium for $250 deductibles: $150
Average monthly premium for $500 deductibles (subtract): - $130
Monthly savings from raising deductible: $20
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $20
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

One big caveat is that higher deductibles results in a higher out-of-pocket expense when you have a claim. You need to have some funds available in the event you have to pay the higher deductible.

How much more does full coverage cost?

The illustration below illustrates the difference between Mazda RX-8 insurance costs with liability coverage only compared to full coverage. The rate quotes are based on a clean driving record, no claims, $1,000 deductibles, drivers are single, and no other discounts are factored in.

When to eliminate full coverage

There is no set rule of when to phase out full coverage, but there is a guideline you can consider. If the annual cost of coverage is more than around 10% of replacement cost minus your deductible, then it could be time to drop full coverage.

For example, let's say your Mazda RX-8 settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $3,000 after the policy deductible has been paid. If premiums are more than $300 a year for physical damage coverage, then you may need to consider dropping full coverage.

There are some conditions where eliminating full coverage is not a good plan. If you still owe a portion of the original loan, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should maintain full coverage.

Protect your RX-8 and other assets

Despite the fact that insurance is not cheap in San Jose, maintaining insurance is not optional due to several reasons.

  • Almost all states have mandatory insurance requirements which means you are required to buy a specific level of liability insurance coverage in order to drive the car legally. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
  • If your vehicle has a loan, almost every bank will require you to buy full coverage to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the bank may buy a policy for your Mazda at a significantly higher premium and force you to pay much more than you were paying before.
  • Insurance safeguards not only your Mazda RX-8 but also your assets. It will also pay for many types of medical costs for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit in the event you are sued. If your Mazda gets damaged, your insurance policy will pay to repair the damage minus the deductible amount.

The benefits of carrying enough insurance are without a doubt worth the cost, especially when you need to use it. As of last year, the average driver in California is overpaying over $865 each year so we recommend shopping around each time the policy renews to ensure rates are inline.

Learn How to Buy Insurance Cheaper

One of the most helpful ways to save on insurance is to to have a grasp of some of the elements that come into play when calculating your policy premiums. If you understand what determines premiums, this allows you to make educated decisions that could help you find lower premium levels.

  • Vehicles with better crash test results save money - Vehicles with high crash test scores get lower rates. Safer cars help reduce the chance of injuries in an accident and reduced instances of injuries translates into fewer and smaller insurance claims and thus lower rates.
  • High coverage deductibles save money - Physical damage protection, otherwise known as comp (or other than collision) and collision, is used to repair damage to your vehicle. Some instances where coverage would apply are colliding with a building, hail damage, and rolling your vehicle. Comp and collision deductibles define how much you are required to pay before a claim is paid by your company. The more of the claim you have to pay, the better rate you will receive.
  • More miles equals more premium - Driving a lot of miles each year the higher your rates will be. Most companies apply a rate determined by how the vehicle is used. Autos that have low annual miles get more affordable rates than those used for commuting. Improper usage on your RX-8 can result in significantly higher rates. It's a good idea to make sure your vehicle rating is showing the correct driver usage, because improper ratings can cost you money.
  • Poor credit can mean higher premiums - Credit score is likely to be a major factor in determining premium rates. If your credit is lower than you'd like, you may save money insuring your Mazda RX-8 by improving your credit score. Insureds with good credit tend to be better drivers and file fewer claims as compared to drivers with poor credit.
  • Policy lapses lead to higher prices - Driving your car without having proper coverage can get you a ticket and any future policy may cost more because you let your insurance lapse. Not only will you pay higher rates, getting caught without coverage may result in a steep fine or even jail time.
  • Costs also based on gender - Statistics have proven that men are more aggressive behind the wheel. This data doesn't prove that men are worse drivers. Females and males are in auto accidents in similar percentages, but the men have costlier accidents. Men also statistically get cited for more serious violations like reckless driving and DUI.

    The example below illustrates the difference between Mazda RX-8 annual premium costs for male and female drivers. The prices are based on a clean driving record, no claims, comp and collision included, $500 deductibles, single status, and no discounts are applied.

  • Insurance companies don't like frequent insurance claims - If you are a frequent claim filer, you should expect higher rates. Insurance companies in California award most affordable rates to drivers that do not abuse their auto insurance. Auto insurance is intended to be relied upon for claims that pose a financial burden.
  • Amount of liability coverage - Liability insurance will protect you if you are responsible for damages caused by your negligence. Liability insurance provides legal defense to defend your case. Liability insurance is pretty cheap as compared to coverage for physical damage, so drivers should buy more than the minimum limits required by law.

In conclusion

When trying to cut insurance costs, don't be tempted to buy lower coverage limits just to save a few bucks. There are a lot of situations where consumers will sacrifice physical damage coverage only to find out that it was a big error on their part. The proper strategy is to get the best coverage possible at the lowest possible cost but still have enough coverage for asset protection.

Consumers leave their current company for a number of reasons such as policy non-renewal, delays in responding to claim requests, questionable increases in premium or even denial of a claim. Whatever your reason, finding a new auto insurance company is easier than you think.

Lower-priced auto insurance in San Jose can be bought both online in addition to many San Jose insurance agents, and you need to comparison shop both to have the best rate selection. A few companies do not offer internet price quotes and these small, regional companies only sell coverage through independent agencies.

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