It’s easy to assume that auto insurance companies want to keep you from comparing prices. Insureds who shop around for a cheaper policy are very likely to buy a new policy because there are good odds of finding lower rate quotes. A recent survey revealed that drivers who routinely shopped for cheaper coverage saved about $72 a month compared to people who never shopped around for better prices.
If finding the cheapest rates on car insurance in Fort Wayne is the reason you’re reading this, learning how to get rate quotes and compare insurance coverage can save money and time.
If you want to find the absolute lowest rates, then the best way to find more affordable Mazda 5 insurance is to start comparing prices regularly from different companies who provide car insurance in Fort Wayne.
- Get an understanding of what coverages are included in your policy and the measures you can take to keep rates in check. Many rating factors that result in higher rates like at-fault accidents, speeding tickets, and your credit history can be rectified by being financially responsible and driving safely.
- Get rate quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only provide price estimates from a single company like Progressive or Allstate, while independent agents can provide rate quotes from multiple companies. Get quotes now
- Compare the new rates to your existing rates to determine if you can save on 5 insurance in Fort Wayne. If you find a lower rate quote and buy the policy, make sure coverage is continuous and does not lapse.
- Give notification to your current company of your intention to cancel your current policy. Submit a down payment and signed policy application to your new agent or company. Be sure to keep the new proof of insurance paperwork in your vehicle.
One thing to remember is that you’ll want to make sure you compare identical coverage information on every price quote and and to get price estimates from all possible companies. This provides a level playing field and a complete price analysis.
Choosing the best insurance company for you in Fort Wayne is actually quite easy if you know where to start. Practically every person who is looking for a better price on car insurance will buy a cheaper policy. Nevertheless, Indiana vehicle owners benefit from understanding the way insurance companies determine prices and use this information to your advantage.
Cheap car insurance in Fort Wayne, IN
The companies shown below are ready to provide free quotes in Indiana. If you want to find cheap auto insurance in Fort Wayne, we recommend you visit two to three different companies to find the most affordable car insurance rates.
Insurance coverage analysis
The price information shown below outlines a range of insurance coverage prices for Mazda 5 models. Understanding more about how auto insurance premiums are figured is important to be able to make smart choices when selecting a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 5 Sport Station Wagon | $188 | $300 | $238 | $14 | $72 | $812 | $68 |
| 5 Touring Station Wagon | $216 | $366 | $238 | $14 | $72 | $906 | $76 |
| 5 Grand Touring Station Wagon | $216 | $366 | $238 | $14 | $72 | $906 | $76 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Table data does not factor in specific garaging location which can influence insurance rates greatly.
The diagram below illustrates how choosing a deductible and can change Mazda 5 yearly insurance costs for each different age group. The data is based on a single female driver, full coverage, and no discounts are taken into consideration.
Does full coverage make sense?
The diagram below shows the difference between Mazda 5 insurance costs with full coverage and liability only. The premium estimates are based on no tickets, no at-fault accidents, $1,000 deductibles, single status, and no discounts are applied to the premium.
When to drop comprehensive and collision
There is no written rule of when to drop physical damage coverage, but there is a broad guideline. If the annual cost of coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s say your Mazda 5 book value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $4,000 after paying your deductible. If you are paying over $400 annually for physical damage coverage, then it might be time to consider dropping full coverage.
There are some situations where dropping physical damage coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to carry full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Fort Wayne Insurance Costs are Influenced by These Factors
Lots of things are part of the equation when pricing auto insurance. Some are obvious such as your driving record, although others are more obscure such as whether you are married or how financially stable you are. Consumers need to have an understanding of a few of the rating criteria that help calculate your premiums. If you understand what influences your rates, this enables you to make decisions that can help you get lower insurance prices.
Listed below are some of the most common factors companies use to determine prices.
With age comes responsibility – Older drivers are proven to be safer behind the wheel, file fewer claims, and are safer drivers. Young drivers are statistically proven to be easily distracted behind the wheel so insurance rates are higher.
The chart below is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.
Drivers with good credit save on insurance – Having a bad credit score factor in calculating your insurance rates. People that have excellent credit tend to be more responsible and file fewer claims than drivers with bad credit. So if your credit is low, you could pay less to insure your Mazda 5 by repairing your credit.
Cautious drivers pay better premiums – Having a clean driving record can have a huge impact on auto insurance premiums. Just one citation can bump up the cost substantially. Careful drivers get better prices as compared to those with violations. Drivers unfortunate enough to have dangerous violations such as reckless driving, hit and run or driving under the influence may face state-mandated requirements to maintain a SR-22 with their state’s licensing department in order to keep their license.
The illustration below demonstrates how speeding tickets and accidents drive up Mazda 5 insurance costs for different age groups. Data assumes a single female driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.
Raise your physical damage deductibles for better prices – Protection for physical damage, otherwise known as comp (or other than collision) and collision, covers your vehicle from damage. A few examples of covered claims are a dented fender, hitting a deer, and having your car stolen. Your deductibles define how much you are willing to pay if a claim is determined to be covered. The more expense you have to pay, the less your insurance will be.
Infrequent drivers can save – The more you drive your Mazda in a year’s time the more you’ll pay to insure your vehicle. A lot of insurance companies price each vehicle’s coverage based upon how you use the vehicle. Vehicles left parked in the garage get more affordable rates than vehicles that are driven to work every day. Make sure your insurance policy reflects annual mileage. Having an incorrect usage rating on your 5 may be costing you.
Guys are more aggressive – Statistics show women tend to be less risk to insure than men. It does not mean females are better at driving than males. They both get in fender benders at about the same rate, but the males cause more damage and cost insurance companies more money. Men also get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly.
The example below compares Mazda 5 insurance costs for male and female drivers. The premium estimates are based on a clean driving record, no at-fault accidents, full physical damage coverage, $1,000 deductibles, single marital status, and no policy discounts are applied.
Mazda 5 claim probability – Companies factor in insurance loss information when setting premium rates. Vehicles that have higher frequency or amount of claims will have a higher premium rate. The next table illustrates the insurance loss data for Mazda 5 vehicles.
For each policy coverage, the loss probability for all vehicles, regardless of manufacturer or model, is equal to 100. Values that are below 100 are indicative of better than average losses, while numbers above 100 indicate more frequent losses or an increased probability of a larger loss.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Mazda 5 | 86 | 86 | 73 | 103 | 95 | 91 |
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Earn discounts to get lower-cost Fort Wayne insurance quotes
Insurance is not an enjoyable expense, but you may be missing some discounts that may help make it more affordable. Some discounts will apply at the time of quoting, but some must be manually applied prior to receiving the credit.
- Multi-line Discount – Not all insurance carriers offer life insurance, but some may give you a lower rate if you buy a life insurance policy as well.
- Paper-free Discount – Some of the larger companies will give you a small discount simply for signing on your computer.
- Seat Belts Save more than Lives – Drivers who always wear seat belts and also require passengers to buckle their seat belts could cut 10% or more on medical payment and PIP coverage.
- Fewer Miles Equal More Savings – Low mileage vehicles could qualify for lower insurance rates due to less chance of an accident.
- Multiple Cars – Purchasing coverage when you have multiple cars or trucks on one policy could earn a price break for each car.
- Student in College – Kids living away from Fort Wayne attending college and don’t have a car can be insured at a reduced rate.
- Bundle and Save – If you can bundle your auto and homeowners insurance with one company you could save as much as 10 to 15 percent.
You can save money using discounts, but most discount credits are not given to the whole policy. Most only apply to the price of certain insurance coverages like medical payments or collision. So despite the fact that it appears all the discounts add up to a free policy, company stockholders wouldn’t be very happy.
The information below shows the comparison of Mazda 5 premium costs with and without discounts applied to the policy premium. The data is based on a female driver, no violations or accidents, Indiana state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, homeowner, multi-policy, claim-free, and multi-car discounts applied.
Larger insurance companies and their possible discounts can be read below.
- Farm Bureau includes discounts for driver training, 55 and retired, multi-vehicle, youthful driver, and good student.
- MetLife policyholders can earn discounts including good student, accident-free, good driver, claim-free, and multi-policy.
- Progressive may have discounts that include online signing, homeowner, continuous coverage, good student, online quote discount, and multi-vehicle.
- AAA has discounts for pay-in-full, AAA membership discount, good driver, multi-car, and education and occupation.
- American Family has savings for defensive driver, accident-free, Steer into Savings, bundled insurance, TimeAway discount, and air bags.
- GEICO offers premium reductions for federal employee, anti-theft, driver training, membership and employees, five-year accident-free, and good student.
- State Farm may offer discounts for accident-free, driver’s education, Drive Safe & Save, safe vehicle, Steer Clear safe driver discount, and passive restraint.
Double check with each company the best way to save money. All car insurance discounts might not apply everywhere. To view providers with the best discounts in Fort Wayne, click this link.
When should I talk to an agent?
Some people prefer to buy from a local agent and there is nothing wrong with that. The biggest benefit of getting free rate quotes online is you may find cheap rate quotes and also buy local.
Upon completion of this short form, your insurance coverage information is emailed to local insurance agents who will gladly provide quotes for your coverage. You never need to contact an agency because prices are sent to you directly. You can find lower rates without the usual hassles of price shopping. If for some reason you want to quote rates from a particular provider, you just need to find their quoting web page and give them your coverage information.
Picking an insurance company needs to be determined by more than just a cheap price quote. Here are some questions to ask:
- Will high miles depreciate repair valuations?
- What company do they have the most business with?
- Where would your vehicle be repaired?
- How long has their agency been open in Fort Wayne?
- Do they specialize in personal lines auto insurance in Fort Wayne?
- Is the coverage adequate for your vehicle?
- Will a damage claim use OEM or aftermarket replacement parts?
Listed below is a list of insurance companies in Fort Wayne that are able to give comparison quotes for Mazda 5 insurance in Fort Wayne.
W.C. Starks – State Farm Insurance Agent
3818 S Calhoun St – Fort Wayne, IN 46807 – (260) 744-4357 – View Map
Melissa Satterthwaite – State Farm Insurance Agent
7757 Coldwater Rd – Fort Wayne, IN 46825 – (260) 489-5503 – View Map
Connie Stickler – State Farm Insurance Agent
7105 Old Trail Rd – Fort Wayne, IN 46809 – (260) 747-2626 – View Map
American Family Insurance – Tara Witham
4011 W Jefferson Blvd #175 – Fort Wayne, IN 46804 – (260) 434-4440 – View Map
Compare but don’t skimp
In this article, we covered quite a bit of information on how to save on Mazda 5 insurance in Fort Wayne. The most important thing to understand is the more rate quotes you have, the better chance you’ll have of finding affordable Fort Wayne car insurance quotes. You may even find the biggest savings come from some of the smallest insurance companies. These companies may often insure only within specific states and give better rates compared to the large companies like Allstate, GEICO and Progressive.
Budget-conscious Mazda 5 insurance is possible on the web as well as from insurance agents, so you need to shop Fort Wayne car insurance with both in order to have the best price selection to choose from. Some auto insurance companies don’t offer internet price quotes and many times these regional insurance providers prefer to sell through independent insurance agencies.
Additional detailed information can be read in the articles below:
- Understanding Your Insurance Deductible (Insurance Information Institute)
- What Car Insurance is Cheapest for Teenagers in Fort Wayne? (FAQ)
- Who Has Cheap Car Insurance for Ride Shares in Fort Wayne? (FAQ)
- Who Has the Cheapest Auto Insurance for Inexperienced Drivers in Fort Wayne? (FAQ)
- What is Full Coverage? (Allstate)
- Vehicle Insurance in the U.S. (Wikipedia)