It goes without saying that insurance companies don’t want their policyholders to compare prices. Consumers who compare other rates are likely to buy a different policy because there are good odds of finding a more affordable policy premium. A recent study showed that drivers who did price comparisons regularly saved over $865 annually compared to people who never shopped around.
If finding the lowest price for Mazda 3 insurance in Cleveland is your target objective, then having some insight into how to choose a company and compare coverages can make it easier for you to save money.
It takes a few minutes, but the best way to find affordable Mazda 3 insurance in Cleveland is to compare quotes annually from different companies in Ohio. Prices can be compared by following these guidelines.
- Try to learn a little about coverages and the things you can control to prevent expensive coverage. Many policy risk factors that cause high rates like high-risk driving behaviors and poor credit history can be eliminated by making minor driving habit or lifestyle changes. This article gives instructions to get affordable coverage and get additional discounts that may have been overlooked.
- Request price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO or State Farm, while independent agencies can provide prices from multiple companies.
- Compare the new quotes to the price on your current policy to determine if you can save on 3 insurance in Cleveland. If you find a lower rate quote, make sure coverage does not lapse between policies.
- Give notification to your current company of your decision to cancel your current coverage. Submit payment along with a signed and completed policy application for your new coverage. As soon as you can, safely store the proof of insurance certificate above your visor, in the console, or in the glove compartment.
A tip to remember is that you’ll want to make sure you compare the same level of coverage on each quote and and to look at as many different insurance providers as possible. This enables a level playing field and a complete price analysis.
Car insurance data for a Mazda 3
The data table displayed next covers estimates of coverage prices for Mazda 3 models. Understanding more about how rates are determined can assist in making decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 3 I Sport 4-Dr Sedan | $122 | $234 | $256 | $16 | $76 | $704 | $59 |
| 3 I SV 4-Dr Sedan | $122 | $234 | $256 | $16 | $76 | $704 | $59 |
| 3 I Touring 4-Dr Sedan | $122 | $276 | $256 | $16 | $76 | $746 | $62 |
| 3 S Sport 4-Dr Hatchback | $138 | $276 | $256 | $16 | $76 | $762 | $64 |
| 3 S Sport 4-Dr Sedan | $138 | $276 | $256 | $16 | $76 | $762 | $64 |
| 3 S Grand Touring 4-Dr Hatchback | $138 | $276 | $256 | $16 | $76 | $762 | $64 |
| 3 S Grand Touring 4-Dr Sedan | $138 | $276 | $256 | $16 | $76 | $762 | $64 |
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Data assumes single female 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. Premium amounts do not factor in specific zip code location which can impact premiums noticeably.
The illustration below highlights how deductible choice and can raise or lower Mazda 3 insurance costs for different ages of insureds. The costs are based on a married female driver, comprehensive and collision coverage, and no policy discounts are applied.
Comparison of car insurance rates by gender
The chart below compares Mazda 3 insurance premiums for male and female drivers. The data is based on no claims, a clean driving record, comp and collision included, $100 deductibles, single marital status, and no additional discounts are factored in.
How much more does full coverage cost in Cleveland?
The illustration below shows the difference between Mazda 3 yearly insurance costs with full coverage compared to only the Ohio minimum liability coverage. The premium estimates are based on no violations or claims, $500 deductibles, single status, and no discounts are applied.
When to stop buying physical damage coverage
There isn’t a written rule for phasing out physical damage coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
For example, let’s pretend your Mazda 3 replacement value is $9,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $8,000 after the deductible is paid. If premiums are more than $800 a year for full coverage, then you might consider buying liability only.
There are some scenarios where dropping full coverage is not a good plan. If you haven’t paid off your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle in case of an accident, you should keep full coverage in place.
Smart Consumers Know How to Quote Insurance for Less
An important part of buying insurance is that you know a few of the rating criteria that aid in calculating the level of your policy premiums. If you have a feel for what determines base rates, this enables you to make decisions that can earn you much lower annual insurance costs.
The items below are most of the major factors companies use to determine premiums.
Your address can affect premiums – Residing in a rural area has it’s advantages when talking about insurance. Lower population means less chance of accidents and a lower car theft rate. Urban drivers have congested traffic and longer commutes to work. More time commuting means more chance of being in an accident.
Avoid traffic tickets – Careful drivers get better prices as compared to careless drivers. Having just one chargeable violation can boost insurance rates by as much as twenty percent. Drivers unfortunate enough to have flagrant tickets such as DWI, reckless driving or hit and run convictions are required to submit a SR-22 form with their state’s licensing department in order to legally drive a vehicle.
The information below shows how traffic citations and at-fault accidents can affect Mazda 3 insurance rates for each different age group. The price estimates are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied.
Raising comp and collision deductibles saves money – Physical damage insurance, termed comprehensive and collision coverage on your policy, protects your Mazda from damage. A few examples of covered claims are running into the backend of another car, damage from fire, and having your car stolen. Your deductibles are how much you are required to spend out-of-pocket if you file a covered claim. The more money you are required to pay out-of-pocket, the lower your rates will be.
Incidental coverages you don’t need – Insurance companies have many extra add-on coverages that you can buy if you don’t pay attention. Add-on coverages like replacement cost coverage, towing, and extra equipment coverage may be wasting your money. These may sound like a good investment when buying your policy, but now you might not need them so think about removing them and cutting costs.
Poor credit score equals high costs – An insured’s credit rating is a big factor in calculating your premium rate. If your credit history can use some improvement, you could be paying less to insure your Mazda 3 if you clean up your credit. Insureds that have high credit scores tend to be less risk to insure than drivers with lower credit ratings.
Can a thief steal your car? – Owning a car with anti-theft technology or alarm system can save you some money. Anti-theft devices such as OnStar, LoJack tracking, and tamper alarms all help prevent your vehicle from being stolen.
Insurance loss data for Mazda 3 vehicles – Car insurance companies include the past claim history for a vehicle to help determine costs. Models that the data shows to have high amounts or severity of claims will have higher premium rates. The next table shows the insurance loss data for Mazda 3 vehicles.
For each coverage category, the claim probability for all vehicles averaged together is represented as 100. Numbers that are below 100 indicate a favorable loss history, while values that are above 100 point to more frequent losses or tendency to have larger claims.
| Vehicle 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 |
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Affordable auto insurance premiums are out there
Drivers switch companies for a variety of reasons including policy non-renewal, an unsatisfactory settlement offer, denial of a claim or even unfair underwriting practices. No matter why you want to switch, finding a great new company can be easier than you think.
As you restructure your insurance plan, it’s very important that you do not reduce needed coverages to save money. There have been many situations where someone dropped uninsured motorist or liability limits to discover at claim time that their decision to reduce coverage ended up costing them more. Your focus should be to find the BEST coverage at an affordable rate, but don’t skip important coverages to save money.
We just presented some good ideas how to compare Mazda 3 insurance prices in Cleveland. The key concept to understand is the more rate comparisons you have, the higher your chance of finding low cost Cleveland auto insurance quotes. Drivers may even discover the best price on auto insurance is with a lesser-known regional company.
Additional information can be found on the following sites:
- Teen Driving and Texting (State Farm)
- Who Has the Cheapest Car Insurance Quotes for Single Moms in Cleveland? (FAQ)
- Who Has the Cheapest Cleveland Auto Insurance for High School Students? (FAQ)
- Who Has Affordable Cleveland Auto Insurance Rates for Teenage Males? (FAQ)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Understanding Car Crashes Video (iihs.org)
- What is Covered by GAP Insurance? (Allstate)