How to Save on San Jose Mazda RX-8 Insurance

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.

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.

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.

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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