It’s a fact that auto insurance companies don’t want you to look at other companies. Insureds who shop around for the cheapest rate are inclined to buy a new policy because they have good chances of finding good coverage at a lower price. Surprisingly, a recent survey revealed that consumers who shopped around every year saved over $3,450 over four years as compared to drivers who never shopped around for better prices.
If finding budget-friendly car insurance is your intention, then having some knowledge of the best way to compare insurance rates can help make the process easier.
If you want to find the absolute lowest rates, then the best way to get cheaper Mazda 5 insurance is to compare prices at least once a year from providers in Oklahoma City. Rates can be compared by completing these steps.
- Learn about how car insurance works and the modifications you can make to prevent rate increases. Many factors that result in higher prices such as speeding and poor credit history can be controlled by being financially responsible and driving safely. This article gives ideas to help reduce premium rates and find hidden discounts.
- Get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give prices from a single company like Progressive or State Farm, while agents who are independent can provide rate quotes from multiple insurance companies.
- Compare the new rate quotes to the price on your current policy to see if a cheaper rate is available in Oklahoma City. If you find a better price and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
The key aspect of shopping around is to compare identical coverages on every price quote and and to get prices from as many car insurance companies as possible. This provides a level playing field and a thorough selection of prices.
The purpose of this post is to let you in on how insurance works and also save some money in the process If you are insured now, you should be able to get lower rates using the ideas covered in this article. Comparison shoppers only need to know the most efficient way to shop for auto insurance instantly.
Affordable companies for Mazda 5 insurance in Oklahoma
The auto insurance companies shown below offer quotes in Oklahoma. If the list has multiple companies, we recommend you click on several of them to get a more complete price comparison.
Mazda 5 insurance coverage information
The rate table displayed next outlines detailed analysis of coverage costs for Mazda 5 models. Having insight into how policy rates are determined is important for making smart policy decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 5 Sport Station Wagon | $258 | $476 | $358 | $22 | $108 | $1,222 | $102 |
| 5 Touring Station Wagon | $298 | $578 | $358 | $22 | $108 | $1,364 | $114 |
| 5 Grand Touring Station Wagon | $298 | $578 | $358 | $22 | $108 | $1,364 | $114 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Price estimates do not factor in specific garaging location which can influence premium rates considerably.
Impact of violations and accidents on rates
The information below shows how speeding tickets and at-fault claims drive up Mazda 5 insurance premiums for different age groups. The data assumes a single female driver, full coverage, $1,000 deductibles, and no discounts are factored in.
Should you buy full coverage?
The chart below shows the comparison of Mazda 5 yearly insurance costs with liability coverage only compared to full coverage. The premium estimates are based on no claims or violations, $500 deductibles, drivers are not married, and no other discounts are factored in.
When to stop buying full coverage
There isn’t a written rule to exclude full coverage on your policy, but there is a general guideline. If the yearly cost of full coverage is more than around 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your Mazda 5 replacement value is $5,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company would pay you is $4,000 after the policy deductible has been paid. If premium cost is more than $400 annually for your policy with full coverage, then it may be the right time to buy liability only.
There are some conditions where dropping physical damage coverage is not a good idea. If you still owe money on your vehicle, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should not remove full coverage.
Lower-cost Oklahoma City car insurance rates with discounts
Companies don’t always advertise every possible discount very clearly, so the list below contains some of the best known as well as the least known discounts that may be available. If you aren’t receiving every discount you qualify for, you’re just leaving money on the table.
- One Accident Forgiven – Not a discount per se, but certain companies will let one accident slide without the usual rate increase so long as you haven’t had any claims for a particular time prior to the accident.
- Fewer Miles Equal More Savings – Driving fewer miles may enable drivers to earn cheaper premium rates.
- Include Life Insurance and Save – Not every insurance company offers life insurance, but if they do you may earn a break if you buy a life policy as well.
- Home Ownership Discount – Being a homeowner can help you save on car insurance because it is proof of financial responsibility.
- Driver Education Discount – Have your child complete a driver education course in school.
- Theft Deterrent – Cars, trucks, and SUVs equipped with anti-theft or alarm systems are stolen with less frequency and that can save you a little bit as well.
A little disclaimer on discounts, many deductions do not apply to the entire policy premium. Most only cut specific coverage prices like liability, collision or medical payments. If you do the math and it seems like all those discounts means the company will pay you, nobody gets a free ride.
The chart below compares Mazda 5 car insurance rates with and without discounts applied to the policy premium. The data is based on a female driver, no driving violations, no at-fault accidents, Oklahoma state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, safe-driver, multi-policy, and homeowner discounts applied.
If you would like to view providers who offer free Mazda 5 insurance quotes in Oklahoma, click this link.
Mazda 5 Insurance Costs Can Be Cheaper
It’s important that you understand the factors that go into determining your policy premiums. If you have some idea of what influences your rates, this enables informed choices that could help you find cheaper rates. Multiple criteria are taken into consideration when premium rates are determined. Some are pretty understandable such as your driving history, but other factors are not as apparent such as whether you are married or how financially stable you are.
The itemized list below are most of the major factors companies use to determine premiums.
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Lower performance equals lower insurance premiums – The performance of the car, truck or SUV you are trying to find cheaper insurance for makes a big difference in your car insurance bill. Lower cost passenger cars usually are quite affordable to insure, but the final cost of insurance is determined by many other factors.
The chart below uses these assumptions: married female driver age 20, full coverage with $250 deductibles, and no discounts or violations. It compares Mazda 5 insurance premiums compared to other models of vehicles that have a range of performances.
- Drive less and get lower premiums – The higher the miles on your Mazda in a year the higher your rate. Most insurance companies price each vehicle’s coverage determined by how the vehicle is used. Autos left parked in the garage can be on a lower rate level than cars that get driven a lot. Improper usage on your 5 can cost quite a bit. It’s always a good idea to double check that your insurance policy is rated on the correct usage, because improper ratings can cost you money.
- Rates impacted by your city – Having an address in areas with lower population has it’s advantages when it comes to insurance. Urban drivers have to deal with more traffic problems and longer commutes to work. Fewer drivers means fewer accidents in addition to fewer liability claims.
- Only buy coverage you need – Insurance companies have many additional extra coverages that can waste your money but may not be useful. Insurance for rental car coverage, towing, and Farm Bureau memberships may be wasting your money. They may seem good when you first buy your policy, but your needs may have changed so consider taking them off your policy.
- Improve your credit rating – Your credit rating will be a significant factor in determining what you pay for insurance. People that have high credit ratings tend to file fewer claims and have better driving records than drivers who have lower credit scores. Therefore, if your credit rating can use some improvement, you could pay less to insure your Mazda 5 by spending a little time repairing your credit.
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Mazda 5 historical loss data – Companies factor in historical loss data to help calculate a profitable premium price. Vehicles that the statistics show to have higher claim amounts or frequency will have higher premium rates. The table below demonstrates the collected loss data for Mazda 5 vehicles.
For each type of coverage, the claim probability for all vehicles as a whole is considered to be 100. Numbers shown that are under 100 represent a good loss history, while values over 100 point to more claims or an increased chance of a larger loss.
Mazda 5 Insurance Loss Statistics Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Mazda 5 86 86 73 103 95 91 BETTERAVERAGEWORSEStatistics from IIHS.org for 2013-2015 Model Years
Insurance agents can help
Some consumers would prefer to sit down and talk to an agent and that is a smart decision Most agents can help you build your policy and give you someone to call. One of the best bonuses of price shopping on the web is you may find lower car insurance rates but also keep your business local. Buying insurance from small agencies is definitely important in Oklahoma City.
Once you complete this simple form, your insurance data is immediately sent to insurance agents in Oklahoma City that can give you free Oklahoma City car insurance quotes for your business. You don’t have to find an agent because quoted prices will be sent to the email address you provide. If for some reason you want to quote rates from a particular provider, just jump over to their website and submit a quote form there.
Below is a short list of auto insurance companies in Oklahoma City who can help you get price quote information for Mazda 5 insurance in Oklahoma City.
- Becky Stevens – State Farm Insurance Agent
7105 W Hefner Rd – Oklahoma City, OK 73162 – (405) 722-0004 – View Map - Insurance Center Agency Inc
Union Plaza, 5600 N May Ave #300 – Oklahoma City, OK 73112 – (405) 843-0793 – View Map - Rita Wallenberg – State Farm Insurance Agent
2833 SW 119th St – Oklahoma City, OK 73170 – (405) 691-2464 – View Map - Jerry Black – State Farm Insurance Agent
12325 N May Ave #117 – Oklahoma City, OK 73120 – (405) 751-1860 – View Map
View more Oklahoma City agents
Selecting an insurance company is decision based upon more than just a low price. Here are some questions you might want to ask.
- What is their Better Business Bureau rating?
- How much will you save each year by using a higher deductible?
- Are they in the agency full-time?
- Can glass claims be handled at your home?
- Does the agent recommend any additional coverage?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
After you get satisfactory answers to all your questions and an acceptable price quote, most likely you have located an insurer that meets the criteria to service your policy.
Oklahoma City auto insurance companies ranked
Selecting the best car insurance company is difficult considering how many companies sell coverage in Oklahoma. The company information listed below may help you select which car insurance companies you want to consider putting your business with.
Top 10 Oklahoma City Car Insurance Companies Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
A conclusion for your car insurance search
Affordable Mazda 5 insurance in Oklahoma City is definitely available on the web and from local agencies, and you should compare price quotes from both in order to have the best price selection to choose from. Some car insurance companies may not offer the ability to get a quote online and these smaller providers only sell through independent insurance agents.
We just presented many ideas to lower your Mazda 5 insurance auto insurance rates in Oklahoma City. The key thing to remember is the more times you quote, the higher the chance of saving money. Consumers could even find that the best price on car insurance is with a smaller regional carrier.
Insureds switch companies for a variety of reasons including unfair underwriting practices, extreme rates for teen drivers, high rates after DUI convictions and poor customer service. No matter why you want to switch, finding a great new company is less work than it seems.
More detailed car insurance information is available in the articles below:
- Collision Coverage (Liberty Mutual)
- Who Has the Cheapest Oklahoma City Car Insurance for a Nissan Sentra? (FAQ)
- Who Has Cheap Car Insurance Quotes for Low Income Drivers in Oklahoma City? (FAQ)
- Who Has Cheap Oklahoma City Car Insurance Quotes for Used Cars? (FAQ)
- What Insurance is Cheapest for Police Officers in Oklahoma City? (FAQ)
- What Auto Insurance is Cheapest for 18 Year Olds in Oklahoma City? (FAQ)
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- How do I File a Claim? (Insurance Information Institute)
- Distracted Driving (Insurance Information Institute)