It takes a few minutes, but the best way to quote cheaper Mazda 5 insurance is to compare prices regularly from companies in Indianapolis. Prices can be compared by following these steps.
- Take a few minutes and learn about what is in your policy and the modifications you can make to drop your rates. Many policy risk factors that are responsible for high rates such as traffic citations and a bad credit score can be eliminated by making small lifestyle or driving habit changes.
- Request price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like Progressive and State Farm, while independent agencies can provide price quotes for a wide range of insurance providers.
- Compare the new rates to the price on your current policy and determine if there is any savings. If you find a lower rate quote, make sure the effective date of the new policy is the same as the expiration date of the old one.
An important note is that you use the same amount of coverage on every quote request and and to compare as many carriers as you can. This provides a fair price comparison and the best price selection.
Smart shoppers know that car insurance companies don’t want policyholders to compare prices from other companies. Consumers who shop around once a year are inclined to switch to a new company because there is a significant possibility of getting low-cost coverage. A recent survey discovered that drivers who faithfully checked for cheaper rates saved on average $70 a month compared to drivers who never compared other company’s rates.
If finding the lowest price for Mazda 5 insurance in Indianapolis is the reason for your visit, then having a grasp of how to find and compare insurance premiums can help you succeed in saving money.
Cheap Indianapolis car insurance rates with discounts
Auto insurance companies don’t list all discounts very clearly, so here is a list a few of the more well known and the more hidden credits that may apply to you.
- ABS and Traction Control Discounts – Cars and trucks with ABS and/or traction control can reduce accidents and therefore earn up to a 10% discount.
- Indianapolis Homeowners Pay Less – Just owning your own home can save a few bucks because owning a home means you have a higher level of financial diligence.
- Mature Driver Discount – Older drivers may be able to get lower premium rates.
- Air Bags and Passive Restraints – Vehicles equipped with air bags can get savings of up to 25% or more.
- Renewal Discounts – Some car insurance companies give discounts for switching policies early. It could save around 10% when you buy Indianapolis auto insurance online.
- Good Student – Excelling in school can earn a discount of 20% or more. The discount lasts up until you turn 25.
As a disclaimer on discounts, most credits do not apply to the overall cost of the policy. Most only cut specific coverage prices like comprehensive or collision. Even though the math looks like having all the discounts means you get insurance for free, car insurance companies aren’t that generous.
The information below shows the difference between Mazda 5 insurance prices with and without discounts applied to the policy rates. The premium estimates are based on a female driver, no violations or claims, Indiana state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, marriage, claim-free, safe-driver, and multi-policy discounts applied.
Large car insurance companies and a selection of discounts are included below.
- GEICO has savings for air bags, membership and employees, seat belt use, multi-vehicle, and anti-theft.
- Auto-Owners Insurance may offer discounts for good student, mature driver, multiple vehicles, group or association, and air bags.
- American Family has discounts for TimeAway discount, good student, defensive driver, mySafetyValet, accident-free, and air bags.
- Esurance offers discounts for online shopper, online quote, multi-car, claim free, multi-policy, Switch & Save, and homeowner.
- Progressive offers discounts including good student, multi-policy, online signing, multi-vehicle, homeowner, and continuous coverage.
- State Farm may have discounts that include safe vehicle, driver’s education, Drive Safe & Save, good student, and passive restraint.
- AAA offers premium reductions for multi-policy, good student, education and occupation, pay-in-full, and good driver.
When quoting, ask every insurance company how you can save money. Some credits might not be available to policyholders in Indianapolis. To choose insurance companies that offer the discounts shown above in Indiana, click this link.
The quickest method we recommend to get rate comparisons for Mazda 5 insurance in Indianapolis is to realize almost all companies provide online access to give you rate quotes. To begin a comparison, all you need to do is provide details including what you do for a living, your general credit rating, the type of vehicles you drive, and driver ages. Your insurance information gets sent immediately to many highly-rated insurers and you will receive price estimates almost instantly.
To compare rates for your Mazda 5 now, click here and enter your coverage details.
The companies shown below provide free quotes in Indiana. If multiple companies are shown, it’s a good idea that you visit as many as you can to get the best price comparison.
Coverage analysis
The price information shown next highlights a range of insurance prices for Mazda 5 models. Having insight into how car insurance premiums are calculated helps drivers make decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 5 Sport Station Wagon | $132 | $250 | $270 | $16 | $80 | $748 | $62 |
| 5 Touring Station Wagon | $152 | $304 | $270 | $16 | $80 | $822 | $69 |
| 5 Grand Touring Station Wagon | $152 | $304 | $270 | $16 | $80 | $822 | $69 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Indiana minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Rate quotes do not factor in zip code location which can raise or lower coverage prices considerably.
Analysis of deductible levels
One of the most common insurance questions is what deductibles to buy. The following insurance rates highlight the cost difference of buying low and high coverage deductibles. The first set of rates uses a $250 deductible for physical damage and the second price grid uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 5 Sport Station Wagon | $188 | $300 | $238 | $14 | $72 | $837 | $70 |
| 5 Touring Station Wagon | $216 | $366 | $238 | $14 | $72 | $931 | $78 |
| 5 Grand Touring Station Wagon | $216 | $366 | $238 | $14 | $72 | $931 | $78 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 5 Sport Station Wagon | $154 | $242 | $238 | $14 | $72 | $720 | $60 |
| 5 Touring Station Wagon | $176 | $294 | $238 | $14 | $72 | $794 | $66 |
| 5 Grand Touring Station Wagon | $176 | $294 | $238 | $14 | $72 | $794 | $66 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Indiana minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Premium amounts do not factor in specific location which can increase or decrease premium rates considerably.
Based on these figures, using a $250 deductible costs approximately $11 more each month or $132 a year than choosing the higher $500 deductible. Because you would be required to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you have at a minimum 23 months between claims, you would probably save some money by going with a higher deductible.
How to calculate deductible break even point
| Average monthly premium for $250 deductibles: | $75 |
| Average monthly premium for $500 deductibles (subtract): | – $64 |
| Monthly savings from raising deductible: | $11 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $11 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 23 months |
The example below illustrates how choosing a deductible and can raise or lower Mazda 5 insurance rates for different ages of insureds. The costs are based on a married female driver, comp and collision included, and no other discounts are factored in.
Accidents and violations increase rates
The diagram below illustrates how violations and at-fault accidents can affect Mazda 5 auto insurance rates for different categories of driver ages. The rates are based on a married female driver, full physical damage coverage, $500 deductibles, and no discounts are applied.
Your insurance coverage should be tailored to you
When it comes to choosing a policy, there really isn’t a one size fits all plan. Every situation is different.
For example, these questions might help in determining if your insurance needs might need professional guidance.
- Should I get collision insurance on every vehicle?
- Are all vehicle passengers covered by medical payments coverage?
- How much liability coverage do I need in Indiana?
- Am I covered if I have no license?
- Do I have coverage when making deliveries for my home business?
- Am I covered if I wreck a rental car?
- What vehicles should carry emergency assistance coverage?
- Is other people’s property covered if stolen from my vehicle?
If you don’t know the answers to these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, simply complete this short form.
Buying from insurance agencies
Certain consumers still like to talk to an insurance agent and that is a smart decision A nice benefit of price shopping on the web is the fact that you can find cheaper premium rates and still have a local agent. Buying insurance from local agents is especially important in Indianapolis.
To help locate an agent, after submitting this short form, your insurance coverage information is immediately sent to agents in your area that provide free Indianapolis auto insurance quotes for your insurance coverage. You never need to contact an agency because quoted prices will be sent to you. You can find the lowest rates and an insurance agent to talk to. If for some reason you want to get a rate quote from a specific insurance company, just search and find their rate quote page and complete a quote there.
If you want to buy insurance from a local insurance agency, you need to know there are two different agency structures and how they can write your policy. Agencies in Indianapolis are considered either independent or exclusive depending on the company they work for.
Independent Agencies or Brokers
Agents of this type often have affiliation with several companies and that allows them to write policies through many different insurance companies and possibly get better coverage at lower prices. If they find a lower price, they simply switch companies in-house without you having to go to a different agency.
When comparison shopping, it’s recommended you contact independent agents to ensure the widest selection of prices.
Featured below is a short list of independent insurance agents in Indianapolis that can possibly get you cheap rate quotes.
Indiana Auto Insurance Group
201 N Illinois St – Indianapolis, IN 46204 – (317) 641-4572 – View Map
A1 Insurance
4030 S Emerson Ave E – Indianapolis, IN 46203 – (317) 787-4995 – View Map
A-1 Insurance Agency
2929 E 96th St Suite A. – Indianapolis, IN 46240 – (317) 844-3049 – View Map
Exclusive Agents
Exclusive agencies write business for a single company and some examples include Allstate, State Farm and Farm Bureau. Exclusive agents cannot compare rates from other companies so they really need to provide good service. These agents are usually quite knowledgeable on what they offer which helps them compete with independent agents.
Listed below are Indianapolis exclusive insurance agents who can help you get comparison quotes.
Frances Johnson – State Farm Insurance Agent
5707 N Michigan Rd – Indianapolis, IN 46228 – (317) 257-3504 – View Map
Haleh Krauter – State Farm Insurance Agent
11204 Fall Creek Rd – Indianapolis, IN 46256 – (317) 849-9996 – View Map
American Family Insurance – Brian Ciesil
1398 Shadeland Ave Ste 2233 – Indianapolis, IN 46219 – (317) 353-6225 – View Map
Choosing the best auto insurance agent should depend on more than just a low price. Some important questions to ask are:
- Do they carry Errors and Omissions coverage?
- Is the agent properly licensed in Indiana?
- Are there any discounts for paying up front?
- How long has the business existed?
- Do you work with a CSR or direct with the agent?
- Will a damage claim use OEM or aftermarket replacement parts?
Once you have good feedback to these questions and locked in a price quote, most likely you have located an insurance agent that is a good match to provide insurance coverage.
Auto insurance is not optional but you don’t have to overpay
Despite the fact that auto insurance is not cheap in Indianapolis, auto insurance may not be optional for several reasons.
- Most states have mandatory insurance requirements which means the state requires specific limits of liability insurance coverage in order to be legal. In Indiana these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a loan on your 5, almost all lenders will require that you buy insurance to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the bank may insure your Mazda at a more expensive rate and make you pay for it.
- Auto insurance preserves both your Mazda 5 and your assets. It will also provide coverage for many types of medical costs for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense if you cause an accident and are sued. If your Mazda gets damaged, your policy will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance outweigh the cost, especially if you ever need it. But the average American driver is overpaying over $869 every year so shop around at every renewal to be sure current rates are still competitive.
Insurance coverage considerations
Learning about specific coverages of your insurance policy can be of help when determining which coverages you need for your vehicles. Policy terminology can be ambiguous and nobody wants to actually read their policy.
Comprehensive coverage (or Other than Collision)
This will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive can pay for claims such as hail damage, a broken windshield, damage from a tornado or hurricane, damage from getting keyed and hitting a bird. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.
Insurance for medical payments
Med pay and PIP coverage provide coverage for immediate expenses for things like funeral costs, ambulance fees and nursing services. They can be used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants in addition to getting struck while a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay
Uninsured Motorist or Underinsured Motorist insurance
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants and damage to your Mazda 5.
Since a lot of drivers only purchase the least amount of liability that is required (25/50/10), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Usually your uninsured/underinsured motorist coverages are set the same as your liability limits.
Liability insurance
This will cover damages or injuries you inflict on other people or property. This coverage protects you from claims by other people. It does not cover your injuries or vehicle damage.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You might see values of 25/50/10 which means a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a total limit of $10,000 for damage to vehicles and property. Occasionally you may see a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.
Liability coverage pays for things such as funeral expenses, attorney fees, emergency aid and pain and suffering. How much coverage you buy is your choice, but it’s cheap coverage so purchase higher limits if possible. Indiana requires minimum liability limits of 25/50/10 but you should consider buying more liability than the minimum.
The next chart demonstrates why the minimum limit may not be high enough to adequately cover claims.
Collision coverage protection
Collision coverage pays for damage to your 5 caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things like backing into a parked car, scraping a guard rail, hitting a mailbox, sustaining damage from a pot hole and colliding with a tree. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to bump up the deductible on your 5 to save money on collision insurance.
In Summary
Throughout this article, we presented many tips how you can lower your Mazda 5 insurance premium rates in Indianapolis. The key concept to understand is the more providers you compare, the higher the chance of saving money. You may even be surprised to find that the lowest premium rates are with a small local company.
Cheap Mazda 5 insurance in Indianapolis can be purchased online in addition to many Indianapolis insurance agents, so you should compare both in order to have the best chance of saving money. Some companies don’t offer rate quotes online and these smaller companies provide coverage only through independent agencies.
As you prepare to switch companies, never skimp on coverage in order to save money. There are too many instances where an insured dropped liability limits or collision coverage only to regret at claim time that the small savings ended up costing them much more. Your goal is to buy enough coverage for the lowest cost, but do not skimp to save money.
Additional learning opportunities
- Auto Crash Statistics (Insurance Information Institute)
- Who Has Cheap Indianapolis Auto Insurance Quotes for Teenage Females? (FAQ)
- Who Has Affordable Auto Insurance for 4×4 Vehicles in Indianapolis? (FAQ)
- How Much is Auto Insurance for Good Students in Indianapolis? (FAQ)
- Teen Driving and Texting (State Farm)
- What is Covered by GAP Insurance? (Allstate)
- How to shop for a safer car (Insurance Institute for Highway Safety)
- Booster Seat Ratings (iihs.org)