Compare Mazda 5 Insurance Rate Quotes in Cincinnati

Discount Mazda 5 insuranceIt takes a little time, but the best way to find better pricing on car insurance rates in Cincinnati is to compare quotes once a year from different companies who provide car insurance in Ohio.

  1. Gain an understanding of coverages and the modifications you can make to keep rates in check. Many policy risk factors that increase rates such as high-risk driving behaviors and a bad credit rating can be remedied by being financially responsible and driving safely.
  2. Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give rate quotes from one company like Progressive or State Farm, while agents who are independent can provide price quotes from many different companies.
  3. Compare the quotes to your existing rates to see if a cheaper rate is available in Cincinnati. If you can save money and switch companies, make sure coverage does not lapse between policies.
  4. Notify your agent or company of your intent to cancel your current auto insurance policy. Submit the signed application along with the required initial payment to your new carrier. When you receive it, keep your new certificate of insurance in an easily accessible location in your vehicle.

A valuable tip to remember is to try to use similar limits and deductibles on every quote and to quote with as many auto insurance providers as possible. This enables the most accurate price comparison and many rates to choose from.

It’s an obvious conclusion that auto insurance companies don’t want customers comparing rates. People who shop around once a year will presumably buy a different policy because there is a good chance of finding a more affordable policy premium. A recent survey found that people who shopped around annually saved over $3,400 over four years compared to people who never shopped for cheaper rates.

If finding the most affordable insurance in Cincinnati is the reason you’re here, then learning about the best way to compare coverages can save time and make the process easier.

If you currently have a car insurance policy, you will surely be able to find the best rates using the concepts you’re about to learn. Finding the cheapest insurance coverage in Cincinnati can initially seem challenging. Although Ohio drivers should learn how big insurance companies determine premium rates and use it to find better rates.

The quickest method to compare policy rates for Mazda 5 insurance in Cincinnati is to realize almost all companies have advanced systems to compare rate quotes. To start a quote, the only thing you need to do is give them some information such as if you’re married, what your job is, how much school you completed, and if your license is active. The data is then submitted to multiple insurance providers and they respond with quotes within a short period of time.

If you wish to get multiple quotes for your Mazda 5 now, click here and complete the form.

The providers in the list below can provide free rate quotes in Cincinnati, OH. If you want to find cheaper auto insurance in Cincinnati, OH, we suggest you visit two to three different companies in order to find the most competitive rates.

Reduce your auto insurance rates with discounts

Car insurance can cost a lot, but there may be some discounts that you may not know about. Many of these discounts will be applied automatically when you quote, but a few must be asked about before being credited.Auto insurance discounts

As is typical with insurance, some credits don’t apply to the entire cost. Some only apply to individual premiums such as collision or personal injury protection. Even though the math looks like all those discounts means the company will pay you, companies don’t profit that way. Any qualifying discounts will bring down the amount you have to pay.

The diagram below illustrates the comparison of Mazda 5 car insurance rates with and without discounts applied. The rate quotes are based on a female driver, no claims or driving citations, Ohio state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, homeowner, safe-driver, marriage, and claim-free discounts applied.

Companies that may have these discounts possibly include:

When getting free Cincinnati car insurance quotes, it’s a good idea to each company to give you their best rates. Discounts might not be offered in your area.

Mazda 5 insurance rate analysis

The rate information displayed next showcases different coverage costs for Mazda 5 models. Having knowledge of how insurance policy rates are established is important to be able to make decisions when choosing a new policy provider.

Mazda 5 Insurance Rates in Cincinnati, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $146 $284 $202 $12 $60 $704 $59
5 Touring Station Wagon $168 $346 $202 $12 $60 $788 $66
5 Grand Touring Station Wagon $168 $346 $202 $12 $60 $788 $66
Get Your Own Custom Quote Go

Prices above based on married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Estimates do not factor in specific location information which can alter coverage prices greatly.

Can higher deductibles save money?

One of the hardest decisions when shopping for insurance is how high or low should comp and collision deductibles be. The comparison tables below may help to conceptualize the cost difference between high and low physical damage deductibles. The first rate quote example uses a $100 physical damage coverage deductible and the second rate table uses a $1,000 deductible.

Mazda 5 insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $170 $290 $192 $12 $58 $747 $62
5 Touring Station Wagon $196 $352 $192 $12 $58 $835 $70
5 Grand Touring Station Wagon $196 $352 $192 $12 $58 $835 $70
Get Your Own Custom Quote Go

Mazda 5 insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $94 $152 $192 $12 $58 $508 $42
5 Touring Station Wagon $108 $186 $192 $12 $58 $556 $46
5 Grand Touring Station Wagon $108 $186 $192 $12 $58 $556 $46
Get Your Own Custom Quote Go

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Rates do not factor in Cincinnati location which can raise or lower prices substantially.

Based on the data above, we can derive that using a $100 deductible costs about $22 more each month or $264 annually across all Mazda 5 models than selecting the higher $1,000 deductible. Since you would pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have at a minimum 41 months between claim filings, you would more than likely save some money if you choose a higher deductible. The numbers below show how you can do this calculation yourself.

Average monthly premium for $100 deductibles: $67
Average monthly premium for $1,000 deductibles (subtract): – $45
Monthly savings from raising deductible: $22
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $22
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 41 months

The example below illustrates how choosing a deductible and can raise or lower Mazda 5 annual premium costs for each age group. The premiums assume a married male driver, comp and collision included, and no discounts are applied.

Full coverage versus liability only rates

The illustration below compares Mazda 5 auto insurance rates with full coverage and liability only. The data is based on no driving violations, no at-fault accidents, $500 deductibles, single marital status, and no discounts are taken into consideration.

Should you pay for full coverage?

There isn’t a written rule that is best for determining when to drop comp and collision coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than around 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.

For example, let’s say your Mazda 5 settlement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $5,000 after the policy deductible has been paid. If you are paying more than $500 a year for full coverage, then you might consider buying liability only.

There are some cases where only buying liability is not advised. If you still owe a portion of the original loan, you are required to maintain full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not buy liability only.

Informed Drivers Can Lower Their Insurance Costs

Lots of things are considered when premium rates are determined. Some of the criteria are obvious like an MVR report, but others are not as apparent like your continuous coverage or your commute time. The best way to find cheaper auto insurance is to take a look at the rating factors that help calculate the price you pay for auto insurance. If you have a feel for what influences your rates, this enables you to make decisions that can help you get lower premium levels.

The items below are a few of the “ingredients” used by insurance companies to determine your prices.

Car plus home equals more savings – Lots of auto insurance companies give discounts to people who buy several policies from them such as combining an auto and homeowners policy. The discount can be ten or even fifteen percent. Even if you already get this discount, drivers will still want to get quotes from other companies to ensure the best deal. Drivers may still save money even if you have your coverage with different companies

Insurance rates in urban areas – Choosing to live in a rural area has it’s advantages when talking about auto insurance. People who live in big cities tend to have more aggressive driving styles and longer commutes to work. Less people living in that area translates into fewer accident claims in addition to lower liability claims.

Marriage discount – Having a wife or husband helps lower the price when buying auto insurance. Having a spouse is viewed as being more responsible it has been statistically shown that drivers who are married are more cautious.

Your liability coverage limits – The liability section of your policy will protect you in the event that you are determined to be liable for causing personal injury or damage in an accident. It will provide legal defense coverage to defend your case. This coverage is very inexpensive compared to physical damage coverage, so drivers should carry high limits.

Keep claims to a minimum – Companies in Ohio generally give cheaper rates to people who are not frequent claim filers. If you file claims often, you can look forward to either policy cancellation or increased premiums. Your insurance policy is intended for the large, substantial claims.

Lower rates for vehicles with better crash test results – Safer cars are cheaper to insure. Safe vehicles help reduce the chance of injuries in an accident and reduced instances of injuries means your insurance company pays less passed on to you as lower rates. If the Mazda 5 scored better than four stars on or an “acceptable” rating on you may be receiving a better rate.

Bad driving means higher premiums – How you drive impacts premiums far more than you think. Good drivers pay lower auto insurance prices compared to bad drivers. Getting just one speeding ticket or other violation can increase rates forty percent or more. Drivers with serious citations such as hit and run, DWI or reckless driving convictions may need to complete a SR-22 with their state DMV in order to prevent their license from being revoked.

The example below highlights how traffic violations and fender-benders increase Mazda 5 car insurance rates for different age groups. The premiums assume a married male driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.

Rates for males may be higher – Over time, data shows that females take fewer risks when driving. That doesn’t necessarily mean that females are better at driving than males. Men and women get in auto accidents in similar percentages, but males have costlier accidents. Men also tend to get cited for more serious violations like reckless driving and DUI. Male drivers age 16 to 19 generally have the highest accident percentage so it costs more to insure them.

The information below compares Mazda 5 auto insurance rates for male and female drivers. The premium estimates are based on no accidents, no driving violations, comp and collision included, $100 deductibles, drivers are single, and no policy discounts are applied.

Mazda 5 claim statistics – Insurance companies take into consideration insurance loss statistics for every vehicle when determining insurance rates. Vehicles that have a trend towards higher claims will cost more for coverage. The table below outlines the historical insurance loss data for Mazda 5 vehicles.

For each coverage type, the claim probability for all vehicles, as an average, is represented as 100. Values that are 100 or less imply a favorable loss record, while numbers above 100 indicate higher probability of having a loss or tendency to have larger claims.

Car Insurance Loss Data for Mazda 5 Models
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Mazda 5 86 86 73 103 95 91

Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years