Auto Insurance Quotes for a Mazda RX-8 in Madison

The best way we recommend to get cheaper Mazda RX-8 insurance is to begin comparing prices regularly from companies that insure vehicles in Madison.

1. Read and learn about how companies price auto insurance and the measures you can take to keep rates low. Many rating factors that cause rate increases such as traffic citations and a bad credit score can be rectified by making lifestyle changes or driving safer. Later in this article we will cover more information to help reduce premium rates and find missing discounts.
2. Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only provide price estimates from one company like Progressive or Farmers Insurance, while independent agents can give you price quotes from multiple companies. Begin your rate comparison
3. Compare the new quotes to the premium of your current policy to see if you can save by switching companies. If you find a better price and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.
4. Provide notification to your current company of your decision to cancel your current policy. Submit the completed application along with a down payment to the new company. Once coverage is bound, place the new proof of insurance certificate in your vehicle’s glove compartment or console.

The most important part of shopping around is that you use identical deductibles and limits on each price quote and and to look at as many companies as you can. This ensures an accurate price comparison and a better comparison of the market.

Remarkably, a study showed that the vast majority of drivers have purchased from the same company for a minimum of four years, and approximately 38% of consumers have never compared rates with other companies. Most drivers in Wisconsin could pocket approximately $400 a year, but they just don’t understand how easy it is to compare rate quotes.

If you are already insured or want to find a cheaper company, you will benefit by learning to save money and still have adequate protection. Locating the best rates in Madison can really be easy if you know what you’re doing. Drivers just have to know the fastest way to compare different rates over the internet.

Finding a better price on auto insurance is actually easier than you may think. Just spend a few minutes on the computer to get quotes to find out which insurance company has cheaper Madison car insurance quotes.

Comparison shopping rates online is easy and it replaces the need to drive around to each insurance agency near you. Comparing online rate quotes eliminates the middleman unless you prefer the professional abilities only provided by licensed agents. However, consumers can compare online quotes but have your policy serviced through an agent.

The providers in the list below are our best choices to provide quotes in Madison, WI. To buy cheap auto insurance in Wisconsin, we recommend you visit several of them to get the most competitive price.

Data for Mazda RX-8 insurance

The rate table displayed below covers a range of insurance costs for Mazda RX-8 models. Having knowledge of how insurance premiums are determined can assist in making decisions when shopping around.

Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Price information does not factor in specific Madison garaging location which can lower or raise coverage prices significantly.

Policy deductible comparison

When comparing insurance rates, the most common question is how high should the physical damage coverage deductibles be. The premium rates below show the rate fluctuation between high and low deductibles. The first set of prices uses a $100 physical damage deductible and the second price grid uses a $500 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Estimates do not factor in specific Madison garaging location which can lower or raise premiums substantially.

Based on the data above, we can derive that using a $100 deductible costs roughly $19 more each month or $228 a year across all Mazda RX-8 models than quoting the higher $500 deductible. Since you would pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you tend to average at least 21 months between claim filings, you would probably be better off if you choose a higher deductible.

Yearly insurance costs for men versus women

The chart below shows the comparison of Mazda RX-8 auto insurance costs for male and female drivers. The data is based on no accidents or driving violations, comp and collision included, $100 deductibles, drivers are not married, and no other discounts are factored in.

Best reasons to buy auto insurance in Wisconsin

Despite the high insurance cost for a Mazda RX-8 in Madison, insurance is a good idea for several reasons.

First, most states have mandatory liability insurance requirements which means state laws require a specific level of liability insurance in order to license the vehicle. In Wisconsin these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if you bought your RX-8 with a loan, more than likely the lender will have a requirement that you have physical damage coverage to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the bank will be required to insure your Mazda at a much higher rate and force you to pay a much higher amount than you were paying before.

Third, auto insurance protects not only your vehicle but also your financial assets. It will also pay for medical transport and hospital expenses incurred in an accident. As part of your policy, liability insurance also pays for attorney fees and expenses in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.

The benefits of having insurance more than offset the price you pay, particularly for liability claims. Today the average American driver is overpaying more than $825 a year so it’s recommended you shop around each time the policy renews to save money.

Components of Your Mazda RX-8 Insurance Prices

It’s important that you understand some of the elements that play a part in calculating car insurance rates. When consumers understand what influences your rates, this allows you to make educated decisions that may result in big savings. Many factors are considered when you get a price on insurance. Some are obvious such as your driving history, although some other factors are not quite as obvious like where you live or how safe your car is.

Cheaper rates with high physical damage deductibles – Insurance for physical damage, also called ‘full coverage’, protects your Mazda from damage. Examples of covered claims could be a dented fender, damage caused by hail, and rolling your vehicle. The deductibles you choose are the amount of money you are required to spend out-of-pocket if a claim is determined to be covered. The more money you have to pay, the less your company will charge you for insurance.

Better drivers pay less – Whether or not you get tickets has a lot to do with how much you pay for insurance. Even a single chargeable violation may increase your cost substantially. Drivers with clean records tend to pay less for car insurance as compared to those with violations. Drivers unfortunate enough to have careless violations such as reckless driving or DUI may be required to prove financial responsibility with their state DMV in order to drive a vehicle legally.

The example below highlights how speeding tickets and at-fault accidents can increase Mazda RX-8 car insurance costs for each age group. The rates are based on a single male driver, comprehensive and collision coverage, $100 deductibles, and no other discounts are factored in.

Combining policies can get discounts – Most insurers provide a discount to policyholders who consolidate policies with them, otherwise known as a multi-policy discount. Discounts can be five, ten or even twenty percent. Even if you’re getting this discount it’s still a good idea to compare Mazda RX-8 rates in Madison to help ensure you have the lowest rates.

Get better rates if married – Having a spouse may cut your premiums compared to being single. It may mean you are more mature and it’s proven that married drivers tend to file fewer claims.

You may qualify for discounts for Mazda RX-8 insurance in Madison

Companies that sell car insurance don’t list all available discounts in an easy-to-find place, so here is a list both the well known and also the lesser-known discounts that may be available. If you check and find you aren’t receiving every discount you qualify for, you could be getting lower rates.

• Drivers Ed for Students – Require your teen driver to enroll and complete driver’s education if it’s offered in school.
• Payment Discounts – By paying your policy upfront instead of making monthly payments you could save 5% or more.
• Braking Control Discount – Cars and trucks with ABS and/or traction control are safer to drive and therefore earn up to a 10% discount.
• Madison Homeowners Discount – Simply owning a home may trigger a policy discount on auto insurance because it demonstrates responsibility.
• Discounts for Multiple Vehicles – Buying coverage for primary and secondary vehicles on one policy could earn a price break for each car.
• Good Students Pay Less – This discount can earn a discount of 20% or more. Many companies even apply the discount to college students until age 25.
• Auto/Home Discount – When you have multiple policies and place coverage with the same company they may give you a discount of at least 10% off all policies.

You should keep in mind that many deductions do not apply to the entire policy premium. Most cut the cost of specific coverages such as comprehensive or collision. So when it seems like it’s possible to get free car insurance, companies don’t profit that way.

The illustration below compares Mazda RX-8 yearly insurance costs with and without discounts being applied to the rates. The prices are based on a female driver, no claims or driving citations, Wisconsin state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, safe-driver, multi-policy, homeowner, marriage, and claim-free discounts applied.

The best auto insurance companies and their possible discounts can be found below.

• GEICO has savings for multi-policy, daytime running lights, anti-theft, membership and employees, emergency military deployment, and federal employee.
• Auto-Owners Insurance has discounts for safe driver, multi-policy, paid in full, group or association, and good student.
• American Family offers discounts including early bird, multi-vehicle, defensive driver, accident-free, and Steer into Savings.
• Esurance may offer discounts for homeowner, Switch & Save, good driver, good student, Pac-12 alumni, and online quote.
• Progressive may have discounts that include online signing, multi-vehicle, multi-policy, homeowner, online quote discount, and continuous coverage.
• State Farm offers premium reductions for good student, anti-theft, Drive Safe & Save, multiple policy, and accident-free.
• AAA may include discounts for good driver, multi-policy, AAA membership discount, multi-car, pay-in-full, and good student.

Before buying, ask each company how you can save money. Some credits might not be offered in Madison. To locate companies with the best discounts in Wisconsin, click here.

When should I get advice from an insurance agency?

Some people would rather sit down with an agent and that is a personal choice. Professional insurance agents can help you choose the best coverages and will help you if you have claims. One of the great benefits of getting online price quotes is that drivers can save money and get better rates but still work with a licensed agent.

To find an agent, once you fill out this form (opens in new window), the quote information is instantly submitted to agents in your area who can give free rate quotes and help you find cheaper coverage. You won’t need to drive around because quoted prices will be sent to you directly. In the event you want to compare rates from one company in particular, you just need to go to their quote page and complete a quote there.

Picking an insurer needs to be determined by more than just the price. You should also get answers to these questions.

• Do they reduce claim amounts on high mileage vehicles?
• Does the agent have professional designations like CIC, CPCU or AIC?
• Does the agent help file claims?
• What is the agency’s Better Business Bureau rating?
• How is replacement cost determined on your vehicle?

Types of car insurance agents in Madison

If you are wanting to find a reliable insurance agent, it’s important to understand the different types of agencies that you can choose from. Insurance agencies may be either independent agents or exclusive agents depending on their employer. Either can properly insure your vehicles, but it’s a good idea to understand the difference between them because it may have an impact on your agent selection.

Exclusive Insurance Agencies

Agents of this type can usually just insure with one company and some examples include AAA, State Farm, Farmers Insurance, and Allstate. Exclusive agencies are unable to compare other company’s rates so you need to shop around if the rates are high. Exclusive agencies are trained well on sales techniques which helps offset the inability to provide other markets.

Below are exclusive insurance agencies in Madison who can help you get price quote information.

More insurance agents

Independent Agencies or Brokers

These type of agents often have many company appointments and that enables them to quote your coverage with lots of companies and help determine which has the cheapest rates. If you are not satisfied with one company, they simply switch companies in-house and you can keep the same agent. If you are comparing insurance prices, we highly recommend that you get insurance quotes from multiple independent agents so that you can do a thorough price comparison.

Shown below are independent agencies in Madison who can help you get rate quotes.

More insurance agents

After talking to the agent and getting answers to your satisfaction to any questions you may have in addition to an acceptable price estimate, most likely you have located an insurance agency that meets the requirements to service your policy. Keep in mind you can always terminate your policy whenever you wish so never assume that you are permanently stuck with your new company indefinitely.

Best car insurance company in Madison

Insuring your vehicle with the top auto insurance provider is difficult considering how many choices you have in Madison. The company information in the next section can help you choose which car insurance providers to look at when comparing rate quotes.

Top 10 Madison Car Insurance Companies Ranked by Customer Satisfaction

1. USAA – 92%
2. Erie Insurance – 88%
3. American Family – 88%
4. State Farm – 88%
5. Nationwide – 88%
6. 21st Century – 88%
7. AAA Insurance – 87%
8. Liberty Mutual – 87%
9. Farmers Insurance – 87%
10. The Hartford – 87%

Top 10 Madison Car Insurance Companies Ranked by Claims Service

1. Progressive
2. Travelers
3. Liberty Mutual
4. Nationwide
5. USAA
6. AAA Insurance
7. Safeco Insurance
8. GEICO
9. Esurance
10. The General

Don’t give up on affordable rates

As you shop your coverage around, it’s very important that you do not skimp on critical coverages to save a buck or two. There are a lot of situations where someone dropped comprehensive coverage or liability limits to discover at claim time that the savings was not a smart move. The ultimate goal is to find the BEST coverage at an affordable rate, but do not sacrifice coverage to save money.

In this article, we presented many ideas to compare Mazda RX-8 insurance car insurance rates in Madison. The key thing to remember is the more price quotes you have, the better your chances of lowering your premium rates. You may even find the most savings is with the smaller companies. Some small companies may often insure only within specific states and give better rates as compared to the big name companies such as Progressive and GEICO.

Low-cost Mazda RX-8 insurance in Madison is attainable on the web and also from your neighborhood Madison agents, and you should be comparing both in order to have the best chance of saving money. Some auto insurance companies may not provide rates over the internet and most of the time these regional carriers prefer to sell through independent agents.

Even more information can be read at these sites:

• Medical Payments Coverage (Liberty Mutual)
• Who Has Cheap Madison Auto Insurance Rates for a 20 Year Old Female? (FAQ)
• How Much is Auto Insurance for Single Moms in Madison? (FAQ)
• Rental Car Insurance Tips (Insurance Information Institute)
• Automakers compete to add autobraking (Insurance Institute for Highway Safety)