Save Money on Mazda 3 Insurance in Orlando

It’s an obvious assumption that auto insurance companies want to keep you from shopping around. People who get comparison quotes once a year will most likely buy a new policy because the odds are good of finding a lower-priced policy. Surprisingly, a recent survey revealed that drivers who made a habit of comparing rates saved as much as $3,500 over four years as compared to drivers who don’t make a habit of comparing rates.

If finding low prices for Mazda 3 insurance in Orlando is why you’re here, then learning about the best ways to find and compare auto insurance can help you succeed in finding affordable rates.

Discount Mazda 3 insuranceThe best way to find affordable Mazda 3 insurance is to compare prices once a year from companies who can sell car insurance in Orlando.

  1. Try to understand how car insurance works and the changes you can make to prevent high rates. Many rating criteria that cause rate increases like tickets, at-fault accidents, and a negative credit rating can be amended by making minor changes to your lifestyle. This article provides more ideas to find cheap prices and get additional discounts.
  2. Compare prices from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from one company like Progressive or Allstate, while independent agents can provide price quotes from many different companies. View companies
  3. Compare the quotes to your existing rates to see if you can save by switching companies. If you find better rates and buy the policy, make sure there is no coverage gap between policies.
  4. Notify your agent or company of your decision to cancel your current auto insurance policy. Submit a down payment along with a signed application to your new insurance company. As soon as you receive it, place your new certificate verifying proof of insurance somewhere easily accessible.

The key thing to remember is to compare identical coverages on each price quote and and to get price quotes from as many auto insurance providers as possible. Doing this helps ensure an accurate price comparison and a complete selection of prices.

Smart Buyers Can Reduce Insurance Rates

Many different elements are used in the calculation when you get your auto insurance bill. Some factors are common sense such as your driving history, but other factors are more obscure like where you live or how financially stable you are. Part of the car insurance buying process is learning a few of the rating criteria that help calculate the rates you pay for car insurance. When you understand what influences your rates, this allows you to make educated decisions that will entitle you to cheaper rates.

Shown below are a partial list of the pieces used by companies to determine premiums.

Never have car insurance policy lapses – Driving any period of time without insurance is a big no-no and you may have a hard time finding new coverage because you let your coverage cancel without a new policy in place. And not only will insurance be more expensive, being ticketed for driving with no insurance will get you fines or a revoked license.

Incidental coverages can cost a lot – Insurance policies have a lot of extra add-on coverages that you can get tricked into buying when buying car insurance. Insurance for things like vanishing deductibles, accidental death, and additional equipment coverage are probably not needed. They may seem like a good idea at first, but your needs may have changed so remove them and pocket the money.

Gender impacts premiums – The statistics show that women are safer drivers than men. The data does not necessarily mean that men are worse drivers. Females and males are responsible for auto accidents at a similar rate, but males tend to have more serious accidents. Men also tend to get ticketed for serious violations such as DWI and reckless driving. Young males are the most expensive to insure and therefore pay the highest rates.

The diagram below illustrates the comparison of Mazda 3 auto insurance rates for male and female drivers. The rates are based on no claims or violations, comprehensive and collision coverage, $1,000 deductibles, drivers are single, and no discounts are applied.

Annual miles is a factor – The more you drive your Mazda in a year the higher your rates will be. A lot of companies charge to insure your cars based on their usage. Vehicles that sit idle most of the time qualify for better rates than vehicles that have high annual mileage. It’s always a good idea to double check that your policy states annual mileage. An improperly rated 3 is throwing money out the window.

Do safer cars cost less to insure? – Vehicles with good safety scores can get you lower premiums. Safe vehicles result in less severe injuries and better occupant protection translates into savings for insurance companies which can mean better rates for you. If the Mazda 3 is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may cost less to insure.

Safeguard your assets with liability coverage – Liability coverage will protect you in the event that you are found to be at fault for physical damage or personal injury to other. Liability insurance provides legal defense coverage which can cost thousands of dollars. This coverage is very inexpensive compared to insuring for physical damage coverage, so drivers should make sure they buy enough to cover all assets.

Mazda 3 insurance loss data – Car insurance companies factor in insurance loss information to calculate a rate that will offset any claims. Vehicles that are shown to have increased losses will have increased rates.

The table below outlines the actual insurance loss data for Mazda 3 vehicles. For each insurance policy coverage type, the statistical loss for all vehicles, as an average, equals 100. Values that are under 100 suggest a better than average loss history, while values over 100 indicate more frequent claims or a tendency for losses to be larger than average.

Mazda 3 Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Mazda 3 99 104 96 106 110 103
Mazda 3 Hatchback 91 80 96 81 73 86

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Rates and detailed analysis

The information displayed below covers different rate quotes for Mazda 3 models. Knowing how car insurance prices are figured is important to be able to make smart policy decisions.

Mazda 3 Insurance Rates in Orlando, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
3 I Sport 4-Dr Sedan $352 $746 $504 $30 $152 $1,784 $149
3 I SV 4-Dr Sedan $352 $746 $504 $30 $152 $1,784 $149
3 I Touring 4-Dr Sedan $352 $878 $504 $30 $152 $1,916 $160
3 S Sport 4-Dr Hatchback $398 $878 $504 $30 $152 $1,962 $164
3 S Sport 4-Dr Sedan $398 $878 $504 $30 $152 $1,962 $164
3 S Grand Touring 4-Dr Hatchback $398 $878 $504 $30 $152 $1,962 $164
3 S Grand Touring 4-Dr Sedan $398 $878 $504 $30 $152 $1,962 $164
Get Your Own Custom Quote Go

Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Rate quotes do not factor in the specific area where the vehicle is garaged which can alter insurance rates substantially.

Policy deductible comparison

One frequently asked question is which deductibles should you choose. The tables below approximate the rate difference of buying low and high physical damage coverage deductibles. The first data table uses a $100 deductible and the second price grid uses a $1,000 deductible.

Mazda 3 insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
3 I Sport 4-Dr Sedan $358 $648 $418 $24 $124 $1,597 $133
3 I SV 4-Dr Sedan $358 $648 $418 $24 $124 $1,597 $133
3 I Touring 4-Dr Sedan $358 $764 $418 $24 $124 $1,713 $143
3 S Sport 4-Dr Hatchback $406 $764 $418 $24 $124 $1,761 $147
3 S Sport 4-Dr Sedan $406 $764 $418 $24 $124 $1,761 $147
3 S Grand Touring 4-Dr Hatchback $406 $764 $418 $24 $124 $1,761 $147
3 S Grand Touring 4-Dr Sedan $406 $764 $418 $24 $124 $1,761 $147
Get Your Own Custom Quote Go

Mazda 3 insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
3 I Sport 4-Dr Sedan $200 $342 $418 $24 $124 $1,108 $92
3 I SV 4-Dr Sedan $200 $342 $418 $24 $124 $1,108 $92
3 I Touring 4-Dr Sedan $200 $402 $418 $24 $124 $1,168 $97
3 S Sport 4-Dr Hatchback $224 $402 $418 $24 $124 $1,192 $99
3 S Sport 4-Dr Sedan $224 $402 $418 $24 $124 $1,192 $99
3 S Grand Touring 4-Dr Hatchback $224 $402 $418 $24 $124 $1,192 $99
3 S Grand Touring 4-Dr Sedan $224 $402 $418 $24 $124 $1,192 $99
Get Your Own Custom Quote Go

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Rate quotes do not factor in garaging location in Orlando which can revise rates noticeably.

We can estimate from the data above that using a $100 deductible costs about $45 more each month or $540 every year across all Mazda 3 models than quoting the higher $1,000 deductible. Due to the fact that you would have to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have at a minimum 20 months between claims, you would probably be better off if you opt for a higher deductible.

Should you buy full coverage?

The example below shows the difference between Mazda 3 car insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $500 deductibles, single status, and no discounts are applied.

When to drop comp and collision

There is no exact formula for excluding full coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s assume your Mazda 3 claim settlement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $7,000 after you pay the deductible. If it’s costing in excess of $700 a year for full coverage, then you might want to think about dropping full coverage.

There are a few situations where buying only liability insurance is not advised. If you still owe a portion of the original loan, you have to maintain full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should maintain full coverage.

These discounts can reduce Mazda 3 insurance rates

Auto insurance is neither fun to buy or cheap, but there could be significant discounts that could help you make your next renewal payment. Certain reductions will be credited at the time you complete a quote, but less common discounts must be asked about before being credited. If you check and find you aren’t receiving every discount you qualify for, you’re paying more than you need to.Auto insurance discounts

While discounts sound great, it’s important to understand that most discount credits are not given to the overall cost of the policy. Some only reduce specific coverage prices like liability and collision coverage. So when the math indicates it’s possible to get free car insurance, auto insurance companies aren’t that generous.

The illustration below illustrates the comparison of Mazda 3 insurance prices with and without discounts being applied to the rates. The data is based on a female driver, a clean driving record, no claims, Florida state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, multi-policy, claim-free, homeowner, and multi-car discounts applied.

Companies and a selection of discounts can be read below.

When getting a coverage quote, ask each company to give you their best rates. Some discounts listed above might not be offered on policies in your area. For a list of providers that offer discounts in Florida, click here.

Best auto insurance company in Florida

Insuring your vehicle with the right auto insurance provider can be a challenge considering how many choices drivers have in Florida. The company rank data in the next section may help you analyze which providers to look at to insure your vehicles.

Top 10 Orlando Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Allstate
  7. State Farm
  8. The Hartford
  9. Safeco Insurance
  10. Progressive

Top 10 Orlando Car Insurance Companies Ranked by Claims Service

  1. Travelers
  2. Nationwide
  3. Allstate
  4. State Farm
  5. Liberty Mutual
  6. GEICO
  7. American Family
  8. Esurance
  9. Titan Insurance
  10. AAA Insurance

One last thing to lower rates

While you’re price shopping online, it’s very important that you do not buy poor coverage just to save money. There are a lot of situations where drivers have reduced comprehensive coverage or liability limits only to regret that their decision to reduce coverage ended up costing them more. Your objective should be to get the best coverage possible for the lowest price, but do not sacrifice coverage to save money.

In this article, we presented many ways to save on Mazda 3 insurance in Orlando. The key concept to understand is the more providers you compare, the better your chances of lowering your car insurance rates. Consumers may even find the lowest rates are with a smaller regional carrier.

Budget-conscious Mazda 3 insurance can be found on the web in addition to local insurance agencies, and you need to comparison shop both in order to have the best chance of saving money. Some companies don’t offer internet price quotes and usually these smaller providers prefer to sell through independent agents.

Additional information