Save Money on Mazda 3 Insurance in Louisville

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Mazda 3 insurance image courtesy of QuoteInspector.com

The best way to get discount Mazda 3 insurance in Louisville is to compare prices at least once a year from insurers who can sell car insurance in Kentucky.

  1. Get a basic knowledge of how car insurance works and the steps you can take to lower rates. Many risk factors that cause rate increases like accidents, careless driving, and a not-so-good credit score can be remedied by being financially responsible and driving safely. Later in this article we will cover the details to help prevent expensive coverage and earn a bigger discount.
  2. Quote rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like Progressive or Farmers Insurance, while independent agencies can quote prices for a wide range of insurance providers. Click to view companies
  3. Compare the new quotes to the price on your current policy and see if you can save money. If you can save some money and change companies, make sure coverage is continuous and does not lapse.
  4. Provide notification to your current agent or company of your intent to cancel your current auto insurance policy. Submit payment and a signed application to the newly selected company. When you receive it, place your new certificate verifying proof of insurance in an easily accessible location.

One bit of advice is that you use the same physical damage deductibles and liability limits on each price quote and and to get rate quotes from as many car insurance companies as possible. This enables an apples-to-apples comparison and maximum price selection.

Insurance rates Mazda 3 in LouisvilleIt's an obvious statement that insurance companies don't want customers comparing rates. People who compare other prices will, in all likelihood, move their business because there are good odds of finding lower prices. A recent study showed that consumers who make a habit of shopping around saved as much as $72 a month as compared to drivers who never shopped around.

If finding the best rates on Mazda 3 insurance is why you're reading this, knowing the best ways to find and compare insurance premiums can save time and make the process easier.

This information will help educate you on the best way to buy inexpensive insurance and some tricks to saving. If you have insurance now, you will surely be able to reduce premiums using the tips covered below. Although Kentucky consumers can benefit from knowing how insurance companies determine prices and apply this information to your search.

To find the best car insurance rates, there are several ways of comparing price quotes from local Louisville car insurance companies. The easiest way to compare insurance prices is to use the internet to compare rates.

Just remember that quoting more helps increase your odds of locating a lower rate.

The companies in the list below are our best choices to provide price comparisons in Louisville, KY. To locate the cheapest car insurance in Louisville, KY, it's a good idea that you click on several of them to get a more complete price comparison.

Louisville insurance discounts for a Mazda 3

Some providers do not advertise every available discount in an easy-to-find place, so the following is a list of both the well known as well as some of the hidden discounts that you may qualify for.Auto insurance discounts

  • Low Miles Discount - Low annual miles could qualify for better prices on cars that stay parked.
  • Senior Citizen Discount - Drivers that qualify as senior citizens are able to get reduced rates.
  • Include Life Insurance and Save - Not every insurance company offers life insurance, but if they do you may earn a lower price if you buy auto and life insurance together.
  • Renewal Discounts - Some insurance companies reward drivers for signing up prior to your current 3 insurance policy expiration. It could save around 10% when you buy Louisville car insurance online.
  • Discounts for Multiple Vehicles - Buying insurance for multiple cars or trucks on a single policy could earn a price break for each car.
  • Driver Safety - Passing a course teaching driver safety skills can save you 5% or more if your company offers it.

One last thing about discounts, many deductions do not apply to the entire policy premium. Most only reduce individual premiums such as physical damage coverage or medical payments. So even though they make it sound like you can get free auto insurance, nobody gets a free ride.

The diagram below shows the difference between Mazda 3 insurance costs with and without discounts applied to the policy rates. Data assumes a male driver, no driving violations, no at-fault accidents, Kentucky state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, homeowner, marriage, multi-car, and claim-free discounts applied.

A few companies that may offer quotes with these money-saving discounts include:

When getting a coverage quote, ask each company which discounts you may be entitled to. Savings may not apply in your state. To locate insurance companies with significant discounts in Kentucky, click here.

Car insurance statistics for a Mazda 3

The rate table displayed next outlines different insurance costs for Mazda 3 models. Understanding more about how insurance prices are formulated can help guide drivers when making informed coverage decisions.

Mazda 3 Insurance Rates in Louisville, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
3 I Sport 4-Dr Sedan $186 $316 $336 $20 $100 $958 $80
3 I SV 4-Dr Sedan $186 $316 $336 $20 $100 $958 $80
3 I Touring 4-Dr Sedan $186 $372 $336 $20 $100 $1,014 $85
3 S Sport 4-Dr Hatchback $210 $372 $336 $20 $100 $1,038 $87
3 S Sport 4-Dr Sedan $210 $372 $336 $20 $100 $1,038 $87
3 S Grand Touring 4-Dr Hatchback $210 $372 $336 $20 $100 $1,038 $87
3 S Grand Touring 4-Dr Sedan $210 $372 $336 $20 $100 $1,038 $87
Get Your Own Custom Quote Go

Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Estimates do not factor in vehicle garaging location which can raise or lower premium rates considerably.

Raise deductibles and save

When buying car insurance, a common question is how high should your deductibles be. The following tables may help you to understand the difference in cost when you buy lower versus higher physical damage coverage deductibles. The first table uses a $250 deductible for comprehensive and collision coverage and the second set of prices uses a $1,000 deductible.

Mazda 3 insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
3 I Sport 4-Dr Sedan $252 $426 $326 $20 $98 $1,147 $96
3 I SV 4-Dr Sedan $252 $426 $326 $20 $98 $1,147 $96
3 I Touring 4-Dr Sedan $252 $500 $326 $20 $98 $1,221 $102
3 S Sport 4-Dr Hatchback $284 $500 $326 $20 $98 $1,253 $104
3 S Sport 4-Dr Sedan $284 $500 $326 $20 $98 $1,253 $104
3 S Grand Touring 4-Dr Hatchback $284 $500 $326 $20 $98 $1,253 $104
3 S Grand Touring 4-Dr Sedan $284 $500 $326 $20 $98 $1,253 $104
Get Your Own Custom Quote Go
Mazda 3 insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
3 I Sport 4-Dr Sedan $156 $268 $326 $20 $98 $868 $72
3 I SV 4-Dr Sedan $156 $268 $326 $20 $98 $868 $72
3 I Touring 4-Dr Sedan $156 $316 $326 $20 $98 $916 $76
3 S Sport 4-Dr Hatchback $176 $316 $326 $20 $98 $936 $78
3 S Sport 4-Dr Sedan $176 $316 $326 $20 $98 $936 $78
3 S Grand Touring 4-Dr Hatchback $176 $316 $326 $20 $98 $936 $78
3 S Grand Touring 4-Dr Sedan $176 $316 $326 $20 $98 $936 $78
Get Your Own Custom Quote Go

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Rate information does not factor in your specific Louisville location which can impact auto insurance rates considerably.

Based on the above data, using a $250 deductible could cost the average driver approximately $25 more each month or $300 for a full year across all Mazda 3 models than choosing the higher $1,000 deductible. Since you would pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you normally go at least 30 months between claims, you would probably save some money by going with a higher deductible.

The chart below illustrates how choosing a deductible and can impact Mazda 3 insurance costs for different categories of driver ages. Data assumes a married male driver, full coverage, and no discounts are applied.

Price comparison of only insuring for liability

The illustration below illustrates the difference between Mazda 3 auto insurance rates with and without physical damage coverage. The prices are based on no claims or violations, $250 deductibles, drivers are single, and no discounts are applied.

When to stop buying comprehensive and collision coverage

There is no definitive guideline for excluding comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than around 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.

For example, let's say your Mazda 3 book value is $6,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $5,000 after the deductible is paid. If you are paying more than $500 annually for your policy with full coverage, then you might want to think about dropping full coverage.

There are some circumstances where only buying liability is not a good idea. If you still owe money on your vehicle, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not eliminate full coverage.

Compare prices but buy from a local Louisville insurance agent

Certain consumers still like to buy from a local agent and that is recommended in a lot of cases One of the great benefits of comparing rates online is the fact that you can find cheap auto insurance rates and still choose a local agent. And buying from local agents is still important in Louisville.

To make it easy to find an agent, after completing this short form, your coverage information is transmitted to local insurance agents in Louisville who can give free rate quotes for your coverage. You never need to contact an agency since rate quotes are delivered immediately to you. Get lower rates and a licensed agent to work with. If you need to get a comparison quote for a specific company, you just need to visit that company's website and fill out their quote form.

If you are wanting to purchase auto insurance from a reliable insurance agent, it helps to know the two types of agencies that you can choose from. Louisville agents are classified as either exclusive or independent (non-exclusive).

Independent Auto Insurance Agents (or Brokers)

Independent agencies do not sell for just one brand so they can quote policies with many different companies and find you cheaper rates. To move your coverage to a new company, they can switch companies in-house and the insured can keep the same agent. If you are comparing rate quotes, you will want to get rate quotes from multiple independent agents to ensure the widest selection of prices. Most independent agents also contract with additional companies that you may not be familiar with which can save you money.

The following is a partial list of independent insurance agents in Louisville that can give you price quote information.

More insurance agents

Exclusive Auto Insurance Agents

Exclusive insurance agents can only quote rates from one company such as Farmers Insurance and State Farm. Exclusive agencies are unable to place coverage with different providers so always compare other rates. Exclusive insurance agents are very knowledgeable on their products and sales techniques which helps offset the inability to provide other markets. Drivers often choose to use an exclusive agent mainly due to the brand legacy rather than having the cheapest rates.

Shown below is a list of exclusive insurance agents in Louisville that are able to give rate quotes.

More insurance agents

Finding the right auto insurance agent shouldn't rely on just the bottom line cost. These are valid questions to ask:

  • Do the coverages you're quoting properly cover your vehicle?
  • What company holds the largest book of business for them?
  • How many companies do they write for?
  • Are they in the agency full-time?
  • Do you need full coverage on every vehicle?
  • Is their price quote a firm figure or are their hidden costs?
  • Will they make sure you get an adequate claim settlement?
  • Do they review policy coverages at every renewal?

After getting good responses to any questions you have and locked in a price quote, it's a good possibility that you have found an insurance agent that is professional and can properly service your auto insurance policy.

Tailor your auto insurance coverage to you

When quoting and choosing the right insurance coverage for your vehicles, there is no perfect coverage plan. Everyone's needs are different.Safe vehicles cost less to insure

For instance, these questions could help you determine whether you may require specific advice.

  • How can I get the company to pay a claim?
  • Do I have coverage when pulling a U-Haul trailer?
  • What is the rate difference between pleasure use and commuting?
  • I have health insurance so do I need medical payments coverage?
  • Why am I be forced to buy a membership to get insurance from some companies?
  • Does coverage extend to a rental car in a foreign country?
  • Am I covered by my employer's commercial auto policy when driving my personal car for business?
  • Are my friends covered when driving my Mazda 3?
  • What if I total my Mazda 3 and owe more than it's worth?
  • Will my insurance pay for OEM parts?

If you can't answer these questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, simply complete this short form.

Mazda 3 Insurance Price Factors

Many things are considered when you get a price on insurance. A few of the factors are predictable such as your driving record, although others are less obvious such as your credit history or your financial responsibility. An important part of buying insurance is that you know the different types of things that help calculate the rates you pay for auto insurance. When you know what positively or negatively controls the rates you pay, this helps enable you to make changes that may reward you with lower rates.

The items below are some of the major factors auto insurance companies consider when setting premiums.

  • Premiums drop with age - Inexperience drivers have been known to be inattentive with other occupants in the car so auto insurance rates are higher. More mature drivers tend to be more responsible, tend to cause fewer accidents, and tend to be get fewer driving tickets.

    The chart below assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.

  • Premiums increase with driving tickets - A bad driving record has a huge affect on how much you pay. Even a single chargeable violation can increase the cost of insurance to the point where it's not affordable. Good drivers get better rates as compared to those with violations. Drivers who have received careless citations like DWI, reckless driving or hit and run convictions may be required to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to legally drive.

    The diagram below highlights how traffic violations and fender-benders increase Mazda 3 insurance premiums for each different age category. The information is based on a single female driver, comp and collision included, $100 deductibles, and no discounts are applied.

  • Lower comp and collision deductibles cost more - Physical damage coverage, also known as collision and other-than-collision, is used to repair damage to your vehicle. Some examples of claims that would be covered are a dented fender, vandalism, and having your car stolen. Deductibles for physical damage define the amount you are willing to pay if a covered claim is submitted. The more expense you are required to pay out-of-pocket, the less your company will charge you for insurance.
  • Drive less and get lower prices - The higher the miles on your Mazda in a year the higher your rate. A lot of companies charge to insure your cars determined by how the vehicle is used. Cars that are left in the garage receive better premium rates than those that get driven frequently. A policy that improperly rates your 3 can result in significantly higher rates. It's always a good idea to double check that your declarations sheet states how each vehicle is driven, because improper ratings can cost you money.
  • Mazda 3 insurance loss data - Companies use claims history to help calculate a profitable premium price. Vehicles that have increased claim numbers or amounts will have a higher cost to insure.

    The table below demonstrates the actual insurance loss data for Mazda 3 vehicles. For each policy coverage type, the claim amount for all vehicles averaged together equals 100. Percentage values below 100 represent a good loss history, while numbers shown that are more than 100 point to more claims or statistically larger claims.

    Insurance Loss Ratings for Mazda 3 Vehicles
    Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Mazda 3 99 104 96 106 110 103
    Mazda 3 Hatchback 91 80 96 81 73 86
    BETTER
    AVERAGE
    WORSE

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

Why you need 3 insurance in Kentucky

Despite the high cost, insurance is required by state law in Kentucky and it also provides benefits you may not be aware of.

  • Almost all states have mandatory liability insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability coverage if you drive a vehicle. In Kentucky 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 your 3 has a loan, most banks will make it a condition of the loan that you have full coverage to guarantee loan repayment. If you let the policy lapse, the lender may insure your Mazda at a more expensive rate and make you pay for the expensive policy.
  • Auto insurance preserves your vehicle and your assets. It will also pay for hospital and medical expenses for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also covers legal expenses in the event you are sued. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.

The benefits of carrying adequate insurance greatly outweigh the cost, particularly when you have a large claim. According to a survey of 1,000 drivers, the average driver overpays as much as $810 a year so compare rates at every renewal to be sure current rates are still competitive.

Affordable car insurance rates are possible

Consumers switch companies for many reasons like policy cancellation, delays in paying claims, extreme rates for teen drivers or even poor customer service. It doesn't matter what your reason, finding a new car insurance company can be pretty painless.

Low-cost Mazda 3 insurance in Louisville is definitely available both online as well as from insurance agents, and you should compare price quotes from both to have the best rate selection. Some companies do not provide rates over the internet and these regional insurance providers sell through independent agencies.

We covered some good ideas how to get a better price on Mazda 3 insurance in Louisville. The most important thing to understand is the more rate quotes you have, the more likely it is that you will get a better rate. Consumers may even find the best price on car insurance is with the least-expected company.

Much more information about car insurance in Kentucky can be found below: