Cheapest Insurance for a Mazda RX-8 in Plano

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It's a fact that insurance companies don't want you to look for a cheaper policy. Drivers who shop around for the cheapest price will, in all likelihood, switch companies because of the high probability of finding a lower rate. Surprisingly, a recent survey revealed that drivers who routinely shopped around saved an average of $70 a month as compared to drivers who never shopped around.

If finding budget-friendly auto insurance in Plano is why you're here, knowing how to find and compare cheaper coverage can make it easier to find better rates.

Discount Mazda RX-8 insuranceThe easiest way to get discount Mazda RX-8 insurance in Plano is to start comparing prices yearly from providers in Texas.

  1. Try to learn a little about how companies set rates and the modifications you can make to keep rates low. Many risk factors that increase rates like traffic citations, accidents, and poor credit history can be improved by improving your driving habits or financial responsibility. Read the full article for additional tips to help find cheaper rates and get bigger discounts.
  2. Compare rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO or Allstate, while independent agents can provide price quotes from multiple sources.
  3. Compare the price quotes to your existing coverage and determine if cheaper RX-8 coverage is available in Plano. If you find a lower rate quote and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.

The key thing to know about shopping around is to make sure you enter the same level of coverage on every quote and and to look at as many auto insurance providers as possible. This provides a fair price comparison and the most accurate and complete price analysis.

Discounts for lower-cost car insurance rates

Car insurance companies don't always publicize every available discount in a way that's easy to find, so we break down a few of the more well known and the more hidden credits available to you.Discount car insurance

  • Accident Forgiveness - Not really a discount, but certain companies will allow you to have one accident without the usual rate increase if you have no claims for a set time period.
  • Employee of Federal Government - Simply working for the federal government could provide a small rate reduction with select insurance companies.
  • Good Student - Excelling in school may save you up to 25%. Earning this discount can benefit you until age 25.
  • Discounts for New Vehicles - Adding a new car to your policy can save you some money since new model year vehicles have better safety ratings.
  • Distant Student Discount - Children who are attending college without a vehicle on campus can be insured at a reduced rate.
  • Plano Homeowners Pay Less - Owning a home in Plano can save a few bucks due to the fact that maintaining a home shows financial diligence.
  • Student Discount for Driver Training - Teen drivers should successfully take a driver's education course in high school.
  • Seat Belt Discounts - Forcing all vehicle occupants to use their safety belts can save a little on medical payment and PIP coverage.
  • Defensive Driver - Taking time to complete a course that instructs on driving safety could possibly earn you a 5% discount and also improve your driving technique.

Discounts lower rates, but some of the credits will not apply to all coverage premiums. Some only apply to the cost of specific coverages such as comp or med pay. Even though it may seem like it's possible to get free car insurance, companies don't profit that way. Any amount of discount will lower the amount you pay for coverage.

The chart below visualizes the comparison of Mazda RX-8 insurance premiums with and without some available policy discounts. The rates are based on a female driver, no violations or accidents, Texas state minimum liability limits, comprehensive and collision 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, safe-driver, multi-car, homeowner, multi-policy, and marriage discounts applied.

Some of the insurance companies that may offer policyholders most of the discounts above are:

When quoting, ask all the companies which discounts you may be entitled to. Some discounts may not be available in your state. If you would like to choose from a list of companies with discount car insurance rates in Texas, click here to view.

The companies shown below offer price comparisons in Plano, TX. If multiple companies are listed, it's highly recommended you compare several of them to get a more complete price comparison.

Rates and statistics

The rate information below showcases estimates of insurance policy prices for Mazda RX-8 models. Being aware of how policy premiums are calculated can aid in making smart choices when selecting a coverage provider.

Mazda RX-8 Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $196 $378 $430 $26 $128 $1,158 $97
RX-8 Grand Touring 4-Dr Coupe $196 $436 $430 $26 $128 $1,216 $101
RX-8 R3 4-Dr Coupe $196 $436 $430 $26 $128 $1,216 $101
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Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Premium amounts do not factor in specific location information which can revise coverage prices substantially.

An analysis of deductible level

One frequently asked question is which comprehensive and collision deductibles to buy. The comparison tables below can help show the differences in price when you buy lower versus higher physical damage deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second price chart uses a $1,000 deductible.

Mazda RX-8 insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $370 $584 $382 $22 $114 $1,497 $125
RX-8 Grand Touring 4-Dr Coupe $370 $672 $382 $22 $114 $1,585 $132
RX-8 R3 4-Dr Coupe $370 $672 $382 $22 $114 $1,585 $132
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Mazda RX-8 insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX-8 Sport 4-Dr Coupe $228 $368 $382 $22 $114 $1,114 $93
RX-8 Grand Touring 4-Dr Coupe $228 $424 $382 $22 $114 $1,170 $98
RX-8 R3 4-Dr Coupe $228 $424 $382 $22 $114 $1,170 $98
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Price estimates do not factor in your specific Plano location which can alter insurance rates noticeably.

Based on the figures above, using a $250 deductible will cost you approximately $34 more each month or $408 annually than selecting the higher $1,000 deductible. Due to the fact that you would have to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you average at least 22 months between claim filings, you would probably save some money by selecting a higher deductible.

The example below shows how choosing a deductible and can raise or lower Mazda RX-8 insurance costs for different insured age categories. The costs are based on a married female driver, full physical damage coverage, and no other discounts are factored in.

Age-based insurance rates by gender in Plano

The example below visualizes the comparison of Mazda RX-8 car insurance rates for male and female drivers. The rates are based on no violations or accidents, full coverage, $250 deductibles, marital status is single, and no policy discounts are applied.

Does full coverage make sense?

The chart below shows the comparison of Mazda RX-8 annual premium costs with full coverage compared to only the Texas minimum liability coverage. The rates are based on no violations or accidents, $500 deductibles, single status, and no other discounts are factored in.

Should you buy full coverage or liability only?

There is no exact rule for dropping physical damage coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is more than around 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.

For example, let's say your Mazda RX-8 settlement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, you would only receive $5,000 after paying the physical damage deductible. If premiums are more than $500 a year for full coverage, then it may be the right time to buy liability only.

There are a few situations where buying only liability insurance is not financially feasible. If you have an outstanding loan on your vehicle, you have to carry full coverage to protect the lienholder's interest. Also, if you can't afford to buy a different vehicle if your current one is damaged, you should not buy liability only.

Different people need different insurance coverages

When quoting and comparing your policy, there really is not a "perfect" insurance plan. Your financial needs are unique.Drive safe and save

Here are some questions about coverages that can aid in determining if you could use an agent's help.

  • What is the difference between personal and commercial auto insurance policies?
  • What happens if I owe more than my Mazda RX-8 is worth?
  • Is pet coverage available?
  • Will my rates increase for filing one claim?
  • Do I have newly-acquired coverage?
  • Are all vehicle passengers covered by medical payments coverage?
  • Does my Mazda RX-8 qualify for pleasure use?

If you're not sure about those questions but you think they might apply to your situation, then you may want to think about talking to an insurance agent. If you don't have a local agent, complete this form. It only takes a few minutes and may give you better protection.

Compare prices but work with a local Plano insurance agency

Some consumers just want to talk to an insurance agent and that is recommended in a lot of cases Professional agents can help you choose the best coverages and help you file claims. One of the great benefits of comparing rates online is you can get lower rates but also keep your business local.

Plano insurance agentsAfter completing this simple form, your insurance data is instantly submitted to companies in Plano that give free quotes for your insurance coverage. There is no reason to do any legwork because prices are sent to you directly. If you have a need to quote rates from a particular provider, you just need to visit that company's website and give them your coverage information.

Choosing the best insurer shouldn't rely on just the premium amount. Here are some questions to ask:

  • Is there a local claims center in Plano?
  • Which insurance companies are they affiliated with?
  • Are there any discounts that you might be missing?
  • Has the agent ever had any license suspensions?
  • What are the financial ratings for the companies they represent?
  • Is insurance their full-time profession?

Compare but don't skimp

Drivers who switch companies do it for any number of reasons including policy non-renewal, being labeled a high risk driver, extreme rates for teen drivers or even high rates after DUI convictions. It doesn't matter why you want to switch finding the right auto insurance provider is easier than you think.

When shopping online for auto insurance, it's not a good idea to skimp on critical coverages to save a buck or two. Too many times, an accident victim reduced uninsured motorist or liability limits only to find out that their decision to reduce coverage ended up costing them more. The goal is to buy a smart amount of coverage at the best price, but do not skimp to save money.

In this article, we presented many ways to shop for Mazda RX-8 insurance online. The key thing to remember is the more companies you get rates for, the better your comparison will be. Consumers could even find that the most savings is with a lesser-known regional company.

Much more information about auto insurance in Texas can be found on the following sites: