2004 Mazda RX-8 Insurance Rates

Looking for the cheapest insurance coverage rates for your Mazda RX-8? Tired of not being able to afford each month for car insurance? You’re in the same situation as millions of other consumers.

With consumers having so many insurance coverage companies to choose from, it’s nearly impossible to locate the cheapest provider.

It’s a good habit to do rate comparisons at least once a year because rates fluctuate regularly. Even if you got the best rates for RX-8 insurance on your last policy other companies may now be cheaper. Forget all the misinformation about insurance coverage because you’re about to find out the proper way to reduce your cost while improving coverage.

Auto Insurance Comparison Rates

There are multiple methods to compare 2004 Mazda RX-8 auto insurance prices and some are less time-consuming than others. You can waste a few hours (or days) talking about coverages with local insurance agents in your area, or you could save time and use the web to get rate comparisons in just a few minutes.

All the larger companies belong to a marketplace where insurance shoppers send in one quote, and every company can give them a price for coverage. This saves time by eliminating repetitive form submissions for each company.

To participate in this free quote system, click here to start a free quote.

One minor caviat to using this type of form is you can’t choose which insurance companies you want to price. So if you prefer to pick individual companies to compare rates, we have a listing of low cost auto insurance companies in your area. Click here for list of insurance companies.

Which method you use is up to you, but make darn sure you compare apples-to-apples deductibles and coverage limits for every quote you compare. If you compare different liability limits it will be next to impossible to make a fair comparison for your Mazda RX-8. Quoting even small variations in coverages can make a big difference in price. It’s important to know that getting more free quotes will increase your chances of finding a better price.

The fine print in auto insurance ads

Companies like Progressive, Allstate and Geico consistently run ads on television and other media. All the ads make an identical promise of big savings if you change to them. But how can every company say the same thing?

All the different companies have a certain “appetite” for the type of driver that earns them a profit. An example of a desirable insured might be between the ages of 40 and 55, has no tickets, and drives less than 7,500 miles a year. A propective insured who meets those qualifications receives the best rates and is almost guaranteed to save quite a bit of money when switching.

Drivers who fall outside this ideal profile must pay higher rates and ends up with business going elsewhere. The ads say “customers that switch” not “everyone that quotes” save that much. That’s the way companies can truthfully make the claims of big savings. This illustrates why it’s extremely important to quote coverage with many companies. You cannot predict which insurance companies will give you the biggest savings on Mazda RX-8 insurance.

Mazda RX-8 insurance rates are influenced by…

Smart consumers have a good feel for the different types of things that go into determining your auto insurance rates. When you know what positively or negatively impacts premium levels enables informed choices that could result in lower auto insurance prices.

Listed below are some of the factors auto insurance companies consider when setting premiums.

  • Poor credit can mean higher rates – Credit score is a important factor in determining what you pay for auto insurance. Drivers with high credit ratings tend to file fewer claims and have better driving records as compared to drivers with lower credit ratings. If your credit score is low, you could pay less to insure your 2004 Mazda RX-8 by improving your rating.
  • Do you qualify for a multi-policy discount? – Most insurers provide better rates to people who have multiple policies with them such as combining an auto and homeowners policy. Discounts can be five, ten or even twenty percent. If you currently are using one company, you still need to shop around to make sure you are getting the best deal.
  • Women pay lower rates – Statistics have proven women are more cautious behind the wheel. Now that doesn’t mean men are worse drivers. Both sexes have accidents in similar numbers, but men tend to have more serious accidents. Men also receive more costly citations like reckless driving and DUI.
  • Bad driving skills means higher rates – A bad driving record has a huge affect on how much you pay. Even one citation can bump up the cost twenty percent or more. Drivers who don’t get tickets tend to pay less for car insurance than bad drivers. If you have serious violations like DUI or reckless driving may find they need to file a SR-22 with the DMV in their state in order to continue driving.

Discounts are basically free money

Auto insurance companies do not list all available discounts in a way that’s easy to find, so we break down both well-publicized as well as the least known car insurance savings.

  • Payment Discounts – By paying your policy upfront instead of monthly or quarterly installments you can actually save on your bill.
  • Accident Waiver – Some insurance companies allow you one accident before your rates go up if you are claim-free for a particular time prior to the accident.
  • Early Switch Discount – Some companies give discounts for switching to them before your current policy expires. It’s a savings of about 10%.
  • Memberships – Belonging to a qualifying organization may earn a discount on car insurance for RX-8 insurance.
  • More Vehicles More Savings – Buying insurance for multiple cars or trucks on one policy qualifies for this discount.
  • Drive Less and Save – Keeping the miles down on your Mazda can qualify you for discounted rates on garaged vehicles.
  • Own a Home – Being a homeowner may earn you a small savings due to the fact that maintaining a home demonstrates responsibility.
  • Drive Safe and Save – Insureds without accidents may receive a discount up to 45% less for RX-8 insurance than drivers with accident claims.
  • Sign Online – Certain companies will discount your bill up to fifty bucks simply for signing digitally online.

Keep in mind that some of the credits will not apply the the whole policy. Some only apply to the price of certain insurance coverages like collision or personal injury protection. Just because it seems like adding up those discounts means a free policy, it doesn’t quite work that way.

To see a list of companies offering car insurance discounts, click here to view.

Which insurance is the “right” coverage?

When it comes to choosing proper insurance coverage, there really is not a best way to insure your cars. Each situation is unique and your policy should reflect that. For instance, these questions can help discover if your situation might need an agent’s assistance.

  • Why am I required to buy high-risk coverage?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Do I have coverage for damage caused while driving under the influence?
  • Am I covered by my spouse’s policy after a separation?
  • Are split liability limits better than a combined single limit?
  • Should I file a claim if it’s only slightly more than my deductible?
  • Do I need rental car coverage?

If you don’t know the answers to these questions, you might consider talking to an insurance agent. If you don’t have a local agent, complete this form or go to this page to view a list of companies.

Insurance coverages 101

Understanding the coverages of insurance aids in choosing appropriate coverage and proper limits and deductibles. Policy terminology can be difficult to understand and reading a policy is terribly boring. Shown next are the normal coverages found on most insurance policies.

Comprehensive or Other Than Collision

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

Comprehensive coverage protects against things like a broken windshield, a tree branch falling on your vehicle, vandalism, hail damage and damage from flooding. The maximum payout your insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage kick in for expenses such as X-ray expenses, EMT expenses, nursing services, pain medications and ambulance fees. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers you and your occupants and will also cover being hit by a car walking across the street. PIP coverage is not an option in every state and gives slightly broader coverage than med pay

Liability auto insurance

Liability coverage will cover damage or injury you incur to a person or their property in an accident. It protects you against claims from other people, and doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property.

Liability insurance covers claims like medical expenses, repair bills for other people’s vehicles and bail bonds. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.

Collision protection

Collision coverage pays for damage to your RX-8 resulting from colliding with another car or object. You first must pay a deductible then your collision coverage will kick in.

Collision coverage protects against things like sideswiping another vehicle, hitting a parking meter, sustaining damage from a pot hole, colliding with another moving vehicle and hitting a mailbox. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible to get cheaper collision coverage.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. This coverage pays for injuries to you and your family and damage to your Mazda RX-8.

Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Best coverage at the best price

As you shop your coverage around, make sure you don’t reduce needed coverages to save money. In many instances, someone sacrificed uninsured motorist or liability limits only to regret at claim time that the few dollars in savings costed them thousands. Your focus should be to purchase plenty of coverage at the best price while still protecting your assets.

We covered quite a bit of information on how to reduce 2004 Mazda RX-8 insurance prices online. The key thing to remember is the more quotes you get, the better chance you’ll have of finding lower rates. You may even find the best prices are with the least-expected company. These companies may cover specific market segments cheaper than the large multi-state companies such as Progressive and Geico.

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