A recent auto insurance study revealed that a large majority of consumers have remained with the same auto insurance company for more than four years, and almost 40% of drivers have never compared rate quotes at all. Consumers in the United States could save 46.5% a year just by getting comparison quotes, but they just don’t understand the amount of money they would save if they replace their high priced policy.
The most effective way to get budget Mazda 6 insurance in Laredo is to do an annual price comparison from providers who provide auto insurance in Texas.
Step 1: Learn about what is in your policy and the factors you can control to keep rates down. Many policy risk factors that are responsible for high rates such as your driving record and a not-so-good credit history can be eliminated by being financially responsible and driving safely. Later in this article we will cover additional tips to help keep prices low and find discounts that you may qualify for.
Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO or Farmers Insurance, while independent agents can provide prices from many different companies.
Step 3: Compare the new rate quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find better rates and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.
Step 4: Give proper notification to your current agent or company of your intention to cancel your current auto insurance policy and submit a signed application and payment for your new coverage. Once received, keep your new certificate verifying proof of insurance in an accessible location in your vehicle.
The key thing to remember is to try to use similar deductibles and liability limits on every quote and to quote with as many companies as feasibly possible. Doing this provides an accurate price comparison and the best price selection.
The following companies have been selected to offer free quotes in Laredo, TX. If multiple companies are listed, it’s a good idea that you click on several of them to get the best price comparison.
Mazda 6 insurance coverage information
The premium information shown below covers detailed analysis of insurance coverage prices for Mazda 6 models. Having a better understanding of how car insurance prices are calculated can assist in making smart buying decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|6 I Sport 4-Dr Sedan||$182||$312||$382||$22||$114||$1,012||$84|
|6 I SV 4-Dr Sedan||$182||$312||$382||$22||$114||$1,012||$84|
|6 I Touring 4-Dr Sedan||$182||$312||$382||$22||$114||$1,012||$84|
|6 I Touring Plus 4-Dr Sedan||$206||$312||$382||$22||$114||$1,036||$86|
|6 I Touring Plus 4-Dr Sedan||$206||$312||$382||$22||$114||$1,036||$86|
|6 I Grand Touring 4-Dr Sedan||$206||$368||$382||$22||$114||$1,092||$91|
|6 S Touring Plus 6 Cyl 4-Dr Sedan||$206||$368||$382||$22||$114||$1,092||$91|
|6 S Touring Plus 4-Dr Sedan||$206||$368||$382||$22||$114||$1,092||$91|
|6 S Grand Touring 4-Dr Sedan||$206||$368||$382||$22||$114||$1,092||$91|
|6 S Grand Touring 6 Cyl 4-Dr Sedan||$206||$368||$382||$22||$114||$1,092||$91|
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Price estimates do not factor in specific garaging location which can affect coverage rates substantially.
Illustration showing the impact of accidents and violations
The information below illustrates how violations and at-fault collisions raise Mazda 6 annual premium costs for each different age group. The prices are based on a single male driver, full coverage, $500 deductibles, and no discounts are taken into consideration.
Difference between liability only and full coverage rates
The illustration below illustrates the difference between Mazda 6 auto insurance rates with full coverage compared to only the Texas minimum liability coverage. Data assumes no violations or claims, $100 deductibles, single status, and no discounts are factored in.
Guidelines for dropping full coverage
There is no clear-cut formula of when to phase out full coverage, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.
For example, let’s say your Mazda 6 replacement value is $4,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $3,000 after paying your policy deductible. If you are paying in excess of $300 annually for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some cases where buying only liability insurance is not a good idea. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
Cut Insurance Costs with These Tips
Lots of factors are considered when you get a price on insurance. Most are fairly basic such as your driving history, but others are more transparent such as your marital status or your vehicle rating.
Is your car built for speed? – The make and model of the car or truck you own makes a big difference in how high your rates are. The lowest rates tend to be for low performance passenger vehicles, but that’s not the only thing that factors into the final price.
The following chart is based on a married male driver age 20, full coverage with $250 deductibles, and no discounts or violations. It compares Mazda 6 rates compared to other makes and models that have different performance risks.
Teenage drivers cost more – Older insureds are more cautious drivers, are lower risk to insure, and usually have better credit. Young drivers are proven to get distracted easily with other occupants in the car therefore auto insurance rates are much higher.
The following chart is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
Vehicle options impact auto insurance rates – Owning a car that has an advanced theft prevention system can help lower your premiums. Theft deterrent systems like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder car theft and help bring rates down.
A good credit rating can save money – A driver’s credit score factor in your rate calculation. Therefore, if your credit could use some work, you could pay less to insure your Mazda 6 if you improve your credit rating. Insureds with excellent credit tend to be more responsible and file fewer claims than drivers with poor credit.
Gender is a factor – Statistics have proven women tend to be less risk to insure than men. However, don’t assume that women are better drivers. Males and females get in at-fault accidents at a similar rate, but men have accidents that have higher claims. Men also statistically get higher numbers of serious violations such as reckless driving.
The chart below illustrates the comparison of Mazda 6 insurance premiums for male and female drivers. The data is based on no driving violations, no at-fault accidents, comp and collision included, $100 deductibles, single marital status, and no discounts are taken into consideration.
Maintain auto insurance coverage – Not having insurance can get your license suspended and you may have a hard time finding new coverage because you let your insurance lapse for non-payment. Not only will you pay more, the inability to provide proof of insurance may result in a fine, jail time, or a revoked license.
Extra coverages you don’t need – There are quite a few extra add-on coverages that may not really be needed if you aren’t diligent. Add-on coverages like rental car reimbursement, death and dismemberment, and additional equipment coverage are some examples. They may sound like good ideas when discussing your needs, but if you’ve never needed them in the past get rid of them and save.
Buy a safe car and pay less – Safe vehicles get lower rates. Safer cars reduce occupant injuries and fewer serious injuries means less money paid by your insurance company and lower rates for you. If your Mazda 6 has at least an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
Insurance losses for a Mazda 6 – Insurance companies take into consideration insurance loss statistics for every vehicle as a tool for profitable underwriting. Vehicles that have high amounts or severity of claims will have a higher cost to insure. The table below demonstrates the actual insurance loss data for Mazda 6 vehicles.
For each insurance policy coverage type, the claim amount for all vehicles as a whole is considered to be 100. Values under 100 suggest a better than average loss history, while values that are 100 or greater indicate frequent claims or statistically larger claims.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Why insurance is not optional
Even though it’s not necessarily cheap to insure a Mazda in Laredo, insuring your vehicle is not optional due to several reasons.
- Almost all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry specific minimum amounts of liability insurance in order to license the vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your Mazda, most lenders will have a requirement that you have comprehensive coverage to guarantee loan repayment. If you cancel or allow the policy to lapse, the bank may insure your Mazda for a much higher rate and require you to pay the higher premium.
- Insurance protects your car and your assets. Insurance will pay for most medical and hospital costs for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, also covers all legal expenses up to the policy limit if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.
The benefits of carrying enough insurance more than cancel out the cost, specifically if you ever have a liability claim. But the average American driver is wasting up to $850 per year so you should quote rates at every policy renewal to ensure rates are competitive.