How to Save on Virginia Beach Mazda 5 Insurance

Unimaginable but true, the vast majority of consumers kept their policy with the same company for more than four years, and nearly the majority have never shopped around. Consumers in Virginia could save 45% every year just by getting comparison quotes, but they don’t understand how simple it is to find cheaper insurance rates.

The recommended way to find better pricing on auto insurance rates in Virginia Beach is to make a habit of regularly comparing prices from providers in Virginia.

1. Take a few minutes and learn about how companies price auto insurance and the measures you can take to keep rates down. Many rating factors that are responsible for high rates like traffic citations and a negative credit score can be remedied by improving your driving habits or financial responsibility.
2. Compare rates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can give quotes from a single company like Progressive or Farmers Insurance, while independent agencies can quote prices for a wide range of companies.
3. Compare the quotes to your current policy and see if there is a cheaper rate. If you find a better price and change companies, make sure there is no coverage gap between policies.
4. Give notification to your current company to cancel your current policy. Submit payment along with a signed and completed policy application to the new insurer. As soon as you can, place your new proof of insurance paperwork somewhere easily accessible.

The critical component of shopping around is to make sure you’re comparing similar deductibles and liability limits on every quote request and and to get price quotes from as many car insurance companies as possible. Doing this helps ensure a level playing field and a complete price analysis.

Best companies for affordable Mazda 5 insurance in Virginia

The car insurance companies shown below can provide free rate quotes in Virginia. If multiple companies are listed, it’s a good idea that you visit as many as you can to get the cheapest price.

Analysis of coverages

The premium table displayed next showcases different policy rates for Mazda 5 models. Understanding more about how insurance quotes are calculated is important to be able to make smart choices when choosing a car insurance company.

Data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Virginia minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Price estimates do not factor in specific zip code location which can change rates greatly.

Higher deductibles lower rates

One of the hardest decisions when shopping for auto insurance is where to set your physical damage deductibles. The following tables lay out the rate fluctuation when you select higher and lower coverage deductibles. The first data set uses a $250 comprehensive and collision deductible and the second pricing table uses a $1,000 deductible.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Virginia minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Estimates do not factor in specific Virginia Beach garaging location which can raise or lower coverage rates noticeably.

Based on this data, using a $250 deductible will cost you about $18 more each month or $216 annually than selecting the higher $1,000 deductible. Since you would pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you have at least 42 months between claims, you would more than likely save some money by going with a higher deductible. The illustration below shows how you can do this calculation yourself.

An important sidenote is that raising deductibles to save money means you pay more out-of-pocket at claim time. That will require enough extra money in order to pay the higher deductible in order to repair your vehicle.

The information below shows how choosing a deductible and can increase or decrease Mazda 5 insurance costs for each different age category. The price estimates are based on a married male driver, comp and collision included, and no discounts are applied.

Men versus women drivers and insurance cost

The information below illustrates the difference between Mazda 5 insurance prices for male and female drivers. The price estimates are based on no accidents or driving violations, comprehensive and collision coverage, $100 deductibles, single status, and no discounts are factored in.

Cost difference between full coverage and liability

The information below compares Mazda 5 insurance rates with full physical damage coverage and with liability coverage only. The rate quotes are based on no violations or claims, $250 deductibles, single marital status, and no discounts are applied to the premium.

When to buy liability coverage only

There is no specific rule of when to eliminate physical damage insurance, but there is a broad guideline. If the yearly cost for physical damage coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.

For example, let’s say your Mazda 5 replacement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $7,000 after you pay the deductible. If you are paying in excess of $700 annually to have full coverage, then you might want to think about dropping full coverage.

There are some cases where buying only liability insurance is not recommended. If you still have a loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.

You may qualify for discounts for Mazda 5 insurance in Virginia Beach

Some companies don’t always publicize the entire discount list very well, so the list below contains some of the best known in addition to some of the lesser obvious credits that may apply to you.

• Service Members Pay Less – Having a deployed family member could be rewarded with lower premium rates.
• Defensive Driver – Taking time to complete a course in safe driver could cut 5% off your bill and easily pay for the cost of the class.
• Good Students Pay Less – Getting good grades can earn a discount of 20% or more. You can use this discount normally until age 25.
• Federal Government Employee – Being employed by or retired from a federal job can save as much as 8% with some insurance companies.
• Passive Restraint Discount – Cars that have air bags may get savings of up to 25% or more.
• First Accident Forgiveness – Not really a discount, but companies like State Farm and Progressive will allow you to have one accident without raising rates as long as you don’t have any claims for a certain period of time.
• Discounts for Multiple Vehicles – Drivers who insure all your vehicles with the same insurance company could earn a price break for each car.
• Anti-theft Discount – Anti-theft and alarm system equipped vehicles prevent vehicle theft and will save you 10% or more on 5 insurance in Virginia Beach.
• ABS Brakes – Anti-lock brake equipped vehicles are much safer to drive so you can save 10 percent or more.

Discounts lower rates, but some of the credits will not apply to the whole policy. Some only apply to individual premiums such as collision or personal injury protection. So despite the fact that it appears you would end up receiving a 100% discount, companies don’t profit that way.

The chart below shows the difference between Mazda 5 insurance rates with and without discounts applied to the policy premium. The price estimates are based on a male driver, no violations or claims, Virginia 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 claim-free, multi-policy, homeowner, marriage, safe-driver, and multi-car discounts applied.

Companies and some of the premium reductions they offer are shown below.

• State Farm has discounts for Drive Safe & Save, passive restraint, defensive driving training, Steer Clear safe driver discount, driver’s education, accident-free, and anti-theft.
• Farmers Insurance offers discounts for business and professional, homeowner, pay in full, electronic funds transfer, and youthful driver.
• Progressive offers discounts including online signing, multi-vehicle, online quote discount, multi-policy, and good student.
• GEICO may offer discounts for five-year accident-free, anti-theft, federal employee, anti-lock brakes, air bags, and seat belt use.
• Auto-Owners Insurance has savings for safe driver, student away at school, multiple vehicles, multi-policy, group or association, good student, and anti-theft.
• The Hartford includes discounts for vehicle fuel type, anti-theft, defensive driver, good student, bundle, and driver training.
• Farm Bureau policyholders can earn discounts including renewal discount, driver training, 55 and retired, multi-policy, youthful driver, multi-vehicle, and safe driver.
• USAA offers premium reductions for vehicle storage, military installation, annual mileage, driver training, safe driver, loyalty savings, and new vehicle.

Check with each company to apply every possible discount. Some of the discounts discussed earlier may not apply in your area. If you would like to see a list of providers with the best discounts in Virginia Beach, follow this link.

The Mazda 5 Insurance Cost Equation

When buying auto insurance it’s important to understand the different types of things that play a part in calculating your premiums. When consumers understand what impacts premium levels, this enables you to make decisions that may result in lower auto insurance prices. Multiple criteria are used when you get a price on insurance. Some are obvious such as your driving history, but others are not quite as obvious like your vehicle usage or your financial responsibility.

• Better premiums on safer cars – Vehicles that have high safety ratings tend to have lower insurance rates. Safer cars help reduce the chance of injuries in an accident and fewer injuries means lower claim amounts which can result in lower premiums. If your Mazda 5 has ratings of a minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you may be receiving a better rate.
• Better credit means lower rates – Having a bad credit rating is a big factor in calculating your premium rate. Insureds with high credit ratings tend to be less risk to insure than drivers who have bad credit. So if your credit rating is lower than you’d like, you could save money insuring your Mazda 5 by taking the time to improve your credit score.
• Consider raising physical damage deductibles – Physical damage deductibles are the amount of money you are required to spend out-of-pocket if the claim is covered. Physical damage protection, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. A few examples of covered claims could be colliding with a stationary object, damage from fire, and damage caused by road hazards. The larger the amount you choose to pay out-of-pocket, the bigger discount you will receive.
• Liability coverage – Liability insurance provides coverage if a court rules you are at fault for physical damage or personal injury to other. It will provide you with a defense in court up to the limits shown on your policy. It is affordable coverage compared to insuring for physical damage coverage, so do not cut corners here.
• Single drivers may pay higher costs – Having a spouse may earn you lower rates on your auto insurance policy. It demonstrates that you tend to be more mature and responsible and statistics prove drivers who are married are more cautious.
• Costs impacted by vehicle usage – The more you drive your Mazda annually the higher the price you pay to insure it. Most insurance companies charge rates based upon how the vehicle is primarily used. Cars used primarily for pleasure use receive better premium rates as compared to vehicles used primarily for driving to work. It’s always a good idea to double check that your auto insurance policy shows the proper vehicle usage. A policy that improperly rates your 5 is just wasting money.

• Insurance loss statistics a Mazda 5 – Insurance companies use statistical claims data to help determine the price you pay. Models that statistically have higher claim frequency or loss amount will have increased rates.

  The next table illustrates the insurance loss data used by companies for Mazda 5 vehicles. For each policy coverage type, the statistical loss for all vehicles, as a total average, equals 100. Numbers that are below 100 represent a good loss history, while numbers above 100 point to more claims or an increased chance of a larger loss.

  
  

  Insurance Loss Ratings for Mazda 5 Vehicles

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Mazda 5	86	86	73	103	95	91

  BETTER

  AVERAGE

  WORSE

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

Insurance can be complex

When it comes to your policy for your vehicles, there is no single plan that fits everyone. Each situation is unique.

For example, these questions might point out whether or not you might need an agent’s assistance.

• Is business equipment covered while in my vehicle?
• Can I afford to pay high deductible claims out of pocket?
• Is a new car covered when I drive it off the dealer lot?
• Am I covered if I hit someone who is not insured?
• Do I need higher collision deductibles?
• Does medical payments coverage apply to all occupants?
• Do I have any recourse if my insurance company denies a claim?
• What does PIP insurance cover?

If you don’t know the answers to these questions, you may need to chat with a licensed agent. If you want to speak to an agent in your area, complete this form.

Car insurance is available from agents near you

Many people just prefer to get professional advice from a licensed agent and that is a personal choice. The best thing about getting online price quotes is you can get cheap rate quotes and still buy from a local agent. Putting coverage with small agencies is still important in Virginia Beach.

Once you complete this quick form, your coverage information is sent to agents in your area that can give you free Virginia Beach car insurance quotes for your coverage. It makes it easy because there is no need to leave your computer as quotes are delivered directly to your email. You can find the lowest rates without a big time investment. If you want to quote rates from a particular provider, feel free to visit that company’s website and submit a quote form there.

If you are wanting to find a reliable insurance agency, there are two different types of agencies that you can select. Car insurance agents are classified as either independent agents or exclusive agents.

Independent Insurance Agents

These type of agents often have affiliation with several companies so they can write business with many different companies and get you the best rates possible. If premiums increase, the agent simply finds a different carrier and that require little work on your part.

When comparing rate quotes, you absolutely need to include rate quotes from several independent agencies to ensure the widest selection of prices. Many can place coverage with companies that do not advertise much that can offer cheaper rates than bigger companies.

Shown below is a list of independent insurance agents in Virginia Beach who may provide competitive price quotes.

• Choice Insurance Agency
  4664 South Blvd – Virginia Beach, VA 23452 – (757) 416-5100 – View Map
• Nationwide Insurance: Lovas Insurance Agency Inc
  244 Mustang Trail #1 – Virginia Beach, VA 23452 – (757) 340-8310 – View Map
• Nationwide Insurance: Steve Love Insurance Agency Inc
  4176 S Plaza Trail Ste 101 – Virginia Beach, VA 23452 – (757) 340-1200 – View Map

More Virginia Beach agents

Exclusive Insurance Agencies

Agents that choose to be exclusive have only one company to place business with such as State Farm, Allstate, and Farm Bureau. Exclusive agents cannot provide prices from multiple companies so it’s a take it or leave it situation. These agents are trained well on their products and sales techniques which helps offset the inability to provide other markets. Some insured continue to buy insurance from these agents primarily because of the prominence of the brand rather than having low rates.

The following is a short list of exclusive insurance agencies in Virginia Beach that can give you rate quotes.

• Lee Barnes – State Farm Insurance Agent
  1625 Salem Rd Ste 103 – Virginia Beach, VA 23456 – (757) 467-8890 – View Map
• Milt Rawles – State Farm Insurance Agent
  5265 Providence Rd #200 – Virginia Beach, VA 23464 – (757) 424-4656 – View Map
• Farmers Insurance – John Williams
  5269 Greenwich Rd #200 – Virginia Beach, VA 23462 – (757) 456-9440 – View Map

More Virginia Beach agents

Deciding on an insurance agency should include more criteria than just a cheap price. Before buying a policy in Virginia Beach, get answers to these questions.

• Can you get a list of referrals?
• Do they reduce claim amounts on high mileage vehicles?
• Does their agency support local causes in Virginia Beach?
• What is their Better Business Bureau rating?
• What companies can they write with?
• Can you choose the body shop in case repairs are needed?
• Are there any discounts that you might be missing?
• Is the quote a firm price?

After receiving good answers to all your questions and low cost Mazda 5 insurance quotes, it’s possible that you found an insurance agency that is professional and can insure your vehicles.

Affordable auto insurance rates are out there

Insureds change insurance companies for a variety of reasons including poor customer service, high rates after DUI convictions, delays in paying claims or even policy cancellation. Regardless of your reason for switching companies, finding a new company can be less work than you think.

As you quote Virginia Beach car insurance, it’s not a good idea to reduce needed coverages to save money. There are many occasions where an insured dropped full coverage and learned later that a couple dollars of savings turned into a financial nightmare. Your goal should be to buy enough coverage at the best price, but do not sacrifice coverage to save money.

Some insurance companies do not offer the ability to get a quote online and most of the time these small, regional companies work with local independent agencies. Cheap Mazda 5 insurance in Virginia Beach is attainable on the web as well as from insurance agents, so compare prices from both to have the best chance of lowering rates.

Additional information is located at the links below

• Red Light Cameras (State Farm)
• Who Has the Cheapest Virginia Beach Car Insurance Rates for Drivers with Bad Credit? (FAQ)
• What Car Insurance is Cheapest for a Company Car in Virginia Beach? (FAQ)
• Who Has Cheap Auto Insurance for 17 Year Olds in Virginia Beach? (FAQ)
• Who Has Cheap Virginia Beach Car Insurance Rates After a Speeding Ticket? (FAQ)
• Who Has Cheap Virginia Beach Car Insurance Rates for a Toyota Camry? (FAQ)
• Vehicle Insurance (Wikipedia)
• Young Drivers: The High Risk Years Video (iihs.org)