Save Money on Mazda RX-8 Insurance in Cincinnati

The preferred way to find lower priced auto insurance rates is to do an annual price comparison from insurance carriers who provide car insurance in Cincinnati.

Step 1: Read about individual coverages and the things you can change to lower rates. Many things that drive up the price such as distracted driving and a not-so-good credit score can be improved by making small lifestyle or driving habit changes.

Step 2: Compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from a single company like Progressive or State Farm, while agents who are independent can give you price quotes for many different companies.

Step 3: Compare the new rate quotes to your existing policy to see if a cheaper price is available. If you find a better price and decide to switch, make sure there is no lapse in coverage.

Step 4: Give notification to your current company of your intention to cancel the current policy and submit a completed application and payment to your new company or agent. Make sure you keep the new certificate of insurance with your registration paperwork.

A tip to remember is to make sure you enter the same level of coverage on every quote and and to get rate quotes from as many auto insurance providers as possible. This helps ensure a fair rate comparison and maximum price selection.

Insurance rates Mazda RX-8 in CincinnatiAstonishing but true, over 70% of consumers kept their coverage with the same insurance company for at least four years, and practically 40% of insurance customers have never shopped around. American consumers could save an average of roughly 46.5% each year just by getting comparison quotes, but most just don’t grasp the amount of savings they would get if they bought a different policy.

Get cheaper rates by getting these nine discounts

Companies offering auto insurance don’t always list every possible discount very clearly, so the list below details both well-publicized in addition to some of the lesser obvious credits available to bring down your rates.

Keep in mind that many deductions do not apply to all coverage premiums. Most only reduce the cost of specific coverages such as medical payments or collision. Just because you may think all those discounts means the company will pay you, that’s just not realistic.

The information below shows the comparison of Mazda RX-8 yearly insurance costs with and without discounts applied to the premium. The information is based on a male driver, no violations or claims, Ohio state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, homeowner, multi-car, safe-driver, and multi-policy discounts applied.

To view insurance companies that offer multiple discounts in Ohio, click here to view.

When comparison shopping, having more price comparisons helps increase your odds of locating more affordable insurance.

The car insurance companies shown below provide price comparisons in Cincinnati, OH. In order to find cheaper car insurance in Cincinnati, we recommend you visit as many as you can to find the lowest car insurance rates.

Mazda RX-8 insurance rate analysis

The information shown below highlights estimates of coverage costs for Mazda RX-8 models. Being more informed about how prices are calculated is important to be able to make decisions when shopping around.

Mazda RX-8 Insurance Rates in Cincinnati, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $140 $238 $218 $12 $66 $674 $56
RX-8 Grand Touring 4-Dr Coupe $140 $274 $218 $12 $66 $710 $59
RX-8 R3 4-Dr Coupe $140 $274 $218 $12 $66 $710 $59
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Prices based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Information does not factor in the specific area where the vehicle is garaged which can revise price quotes substantially.

Comparison of policy deductibles

When shopping for insurance, a common question is which deductibles should you choose. The figures shown below summarize the rate fluctuation when you buy lower versus higher physical damage coverage deductibles. The first set of rates uses a $100 deductible for comp and collision and the second price grid uses a $500 deductible.

Mazda RX-8 insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $246 $416 $226 $14 $68 $995 $83
RX-8 Grand Touring 4-Dr Coupe $246 $478 $226 $14 $68 $1,057 $88
RX-8 R3 4-Dr Coupe $246 $478 $226 $14 $68 $1,057 $88
Get Your Own Custom Quote Go

Mazda RX-8 insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $180 $280 $226 $14 $68 $768 $64
RX-8 Grand Touring 4-Dr Coupe $180 $324 $226 $14 $68 $812 $68
RX-8 R3 4-Dr Coupe $180 $324 $226 $14 $68 $812 $68
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 claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Rate information does not factor in vehicle garaging location which can increase or decrease coverage prices noticeably.

Based on these figures, using a $100 deductible costs approximately $19 more each month or $228 each year across all Mazda RX-8 models than opting for the higher $500 deductible. Since you would have to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you go at a minimum 21 months between claim filings, you would probably come out ahead if you elect the higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $100 deductibles: $86
Average monthly premium for $500 deductibles (subtract): – $67
Monthly savings from raising deductible: $19
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $19
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

One important note is that raising deductibles results in more money out-of-pocket when you do file a claim. That will require some available funds in order to pay the deductible to have repairs made.

Careless Cincinnati drivers pay higher rates

The example below demonstrates how speeding tickets and at-fault fender-benders can raise Mazda RX-8 auto insurance rates for each age group. The costs are based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no other discounts are factored in.

Mazda RX-8 insurance rates: Men versus women

The illustration below visualizes the comparison of Mazda RX-8 insurance prices for male and female drivers. The costs are based on no claims or violations, comp and collision included, $100 deductibles, single marital status, and no discounts are taken into consideration.

Full coverage or liability only

The illustration below compares Mazda RX-8 car insurance rates with full physical damage coverage compared to only buying liability only. The price estimates are based on no claims or driving citations, $100 deductibles, single status, and no policy discounts are applied.

Guidelines for eliminating full coverage

There isn’t a steadfast formula of when to drop comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.

For example, let’s pretend your Mazda RX-8 claim settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company would pay you is $6,000 after paying your deductible. If premium cost is more than $600 a year for full coverage, then you may need to consider dropping full coverage.

There are some cases where buying only liability insurance is not financially feasible. If you still have a loan on your vehicle, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.

Insurance agents can help

Always remember that when buying a policy, there really is no best way to insure your cars. Each situation is unique.

These are some specific questions could help you determine if you may require specific advice.

If it’s difficult to answer those questions but a few of them apply, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form.

Local Cincinnati insurance agents

Some consumers still like to get advice from a local agent and that is OK! A good thing about getting free rate quotes online is that you can find better rates and still choose a local agent. Supporting small agencies is especially important in Cincinnati.

Cincinnati insurance agentsTo help locate an agent, after submitting this short form, your information is sent to local insurance agents who want to provide quotes for your business. There is no need to find an agent due to the fact that quote results will go to you. You can get cheaper insurance rates AND a local agent. In the event you want to get a price quote from a specific insurance company, you would need to jump over to their website and fill out the quote form the provide.

Different types of Cincinnati car insurance agents

When researching a local Cincinnati insurance agent, it’s helpful to know the different types of agencies and how they can service your needs differently. Insurance agents in Cincinnati can be classified as either exclusive or independent.

Independent Insurance Agents (or Brokers)

Independent agents are normally appointed by many insurers and that enables them to quote your coverage through many different insurance companies and get you the best rates possible. If you are not satisfied with one company, your agent can just switch to a different company and you don’t have to find a new agent. When comparing insurance prices, we recommend you check rates from a couple of independent agencies in order to compare the most rates.

The following are independent agencies in Cincinnati who can help you get cheap rate quotes.

3310 Westbourne DrCincinnati, OH 45248(513) 661-2445View Map

4355 Ferguson Dr #155Cincinnati, OH 45245(513) 947-8500View Map

Rick Hensley Insurance Agency
747 Ohio PikeCincinnati, OH 45245(513) 797-8300View Map

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Exclusive Insurance Agents

Agents of this type can only provide one company’s prices and some examples include State Farm, Allstate and AAA. They are unable to provide rate quotes from other companies so you might not find the best rates. Exclusive agents are well schooled on what they offer which helps overcome the inability to quote other rates.

Below is a list of exclusive insurance agencies in Cincinnati that are able to give rate quotes.

9816 Springfield PikeCincinnati, OH 45215(513) 771-6226View Map

Connor Smith – State Farm Insurance Agent
9620 Colerain Ave #25Cincinnati, OH 45251(513) 385-3385View Map

2306 W Galbraith RdCincinnati, OH 45239(513) 522-9343View Map

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Deciding on an insurance agency needs to be determined by more than just the bottom line cost. Below are some questions you should ask.

Once you have reasonable responses to your questions and an acceptable price quote, it’s possible that you found an insurance agency that meets your needs to properly insure your vehicles. It’s important to know that you have the power to terminate your policy whenever you wish so don’t think you are locked into any specific agency indefinitely.

Why you need insurance

Despite the high cost of buying insurance for a Mazda RX-8 in Cincinnati, buying insurance may be mandatory for several reasons.

The benefits of carrying adequate insurance definitely exceed the price paid, especially with large liability claims. According to a 2015 survey, the average American driver is overpaying over $700 annually so we recommend shopping around at least once a year to ensure rates are competitive.

Insurance coverages explained

Having a good grasp of your insurance policy aids in choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be impossible to understand and nobody wants to actually read their policy.

Coverage for collisions

Collision coverage covers damage to your RX-8 caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers claims such as sideswiping another vehicle, colliding with a tree, backing into a parked car and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. Drivers also have the option to increase the deductible on your RX-8 in order to get cheaper collision rates.

Auto liability insurance

Liability insurance will cover damage that occurs to other’s property or people. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 25/50/25 that means you have a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000. Another option is one limit called combined single limit (CSL) that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability can pay for claims such as court costs, legal defense fees, bail bonds and funeral expenses. How much liability coverage do you need? That is a decision to put some thought into, but you should buy as much as you can afford. Ohio requires drivers to carry at least 25/50/25 but you should think about purchasing higher limits.

The next chart demonstrates why buying the state minimum limits may not be enough coverage.

Comprehensive (Other than Collision)

Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things such as hail damage, damage from getting keyed and hitting a deer. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” do not carry enough liability coverage. Covered losses include hospital bills for your injuries and damage to your Mazda RX-8.

Since many Ohio drivers have only the minimum liability required by law (25/50/25 in Ohio), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important. Most of the time your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Medical expense insurance

Medical payments and Personal Injury Protection insurance kick in for expenses for X-ray expenses, hospital visits, prosthetic devices and funeral costs. They can be used in conjunction with a health insurance program or if you are not covered by health insurance. Coverage applies to you and your occupants and also covers being hit by a car walking across the street. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Car insurance companies ranked

Ending up with the highest-rated auto insurance provider is hard considering how many companies are available to choose from in Cincinnati. The company information in the next section can help you analyze which car insurance providers you want to consider when comparing rate quotes.

Top 10 Cincinnati Car Insurance Companies Overall

  1. USAA
  2. 21st Century
  3. GEICO
  4. Nationwide
  5. AAA Insurance
  6. Liberty Mutual
  7. Safeco Insurance
  8. State Farm
  9. Travelers
  10. American Family

Top 10 Cincinnati Car Insurance Companies Ranked by Value

  1. USAA
  2. GEICO
  3. AAA Insurance
  4. Erie Insurance
  5. State Farm
  6. Liberty Mutual
  7. Safeco Insurance
  8. Allstate
  9. 21st Century
  10. Travelers

Find cheap rates by comparing often

In this article, we presented some good ideas how to get a better price on Mazda RX-8 insurance in Cincinnati. The key thing to remember is the more providers you compare, the better likelihood of getting affordable Cincinnati car insurance quotes. You may even discover the lowest prices come from a company that doesn’t do a lot of advertising.

Insureds switch companies for many reasons like high prices, questionable increases in premium, high rates after DUI convictions and even an unsatisfactory settlement offer. Whatever your reason, finding the right auto insurance provider can be pretty painless.

As you prepare to switch companies, it’s a bad idea to reduce coverage to reduce premium. There are a lot of situations where an accident victim reduced collision coverage to discover at claim time they didn’t purchase enough coverage. Your goal is to find the BEST coverage for the lowest cost while still protecting your assets.

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