It goes without saying that insurance companies don’t want their policyholders to compare prices. Drivers who shop around for cheaper rates are highly likely to buy a new policy because they have good chances of finding a policy with more affordable rates. Remarkably, a study showed that people who routinely compared quotes saved approximately $3,400 over four years compared to policyholders who never shopped for cheaper rates.
If finding the lowest price for insurance is your goal, knowing how to shop for insurance coverage can help you succeed in finding affordable rates.
The best way we recommend to find affordable quotes for car insurance rates in San Francisco is to compare prices once a year from insurers who provide car insurance in California.
- First, take a little time to learn about coverages and the things you can control to prevent high rates. Many risk factors that increase rates like accidents, traffic violations, and a negative credit rating can be eliminated by improving your driving habits or financial responsibility. Read the full article for the details to get better rates and get additional discounts that may have been overlooked.
- Second, request price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from one company like Progressive and State Farm, while independent agencies can provide price quotes from multiple companies. View rates
- Third, compare the new rate quotes to your existing coverage to determine if you can save on 5 insurance. If you can save money, ensure there is no coverage lapse between policies.
One piece of advice is to make sure you enter identical limits and deductibles on each quote request and and to compare all possible companies. This enables a fair price comparison and a thorough selection of prices.
If you are paying for car insurance now, you will be able to buy cheaper insurance using the concepts you’re about to learn. Comparison shopping for affordable coverage in San Francisco is not as hard as you think. Nevertheless, California car owners benefit from understanding the way companies sell online because it can help you find the best coverage.
Mazda 5 Insurance Prices Can Be Cheaper
Consumers need to have an understanding of some of the factors that help determine insurance rates. When you understand what controls the rates you pay, this enables you to make decisions that may reward you with lower premium levels. Many different elements are considered when pricing auto insurance. Some are obvious such as traffic violations, although some other factors are more obscure like where you live or how safe your car is.
The itemized list below are some of the major factors utilized by car insurance companies to help set rates.
Insurance prices and vehicle performance – The type of vehicle you need insurance for makes a big difference in your rates. Small economy passenger cars usually are quite affordable to insure, but there are many factors that impact the final cost.
The chart below is based on a married male driver age 30, full coverage with $250 deductibles, and no discounts or violations. The data compares Mazda 5 rates compared to other models that have a range of performances.
Incidental coverages you don’t need – Policies have optional add-on coverages that you can buy if you don’t pay attention. Insurance for rental car coverage, towing coverage, and extra life insurance coverage may be wasting your money. They may seem like a good idea when deciding what coverages you need, but now you might not need them so get rid of them and save.
How old are your drivers? – Teen drivers in California are proven to be inattentive and easily distracted when driving therefore insurance rates are much higher. Older, more experienced drivers are shown to be more cautious, file fewer claims, and are safer drivers.
The following data is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.
Higher prices for tough employers – Did you know your occupation can influence how much you pay for insurance? Jobs such as lawyers, architects, and medical professionals have the highest rates because of intense work requirements and extremely grueling work hours. Conversely, occupations like scientists, historians and homemakers get better rates.
Where you live plays a part – Choosing to live in a small town may provide you with better prices when buying insurance. Urban drivers tend to have traffic congestion and longer commutes to work. Fewer drivers and short commutes means a lower chance of having an accident in addition to lower liability claims.
Loss statistics for a Mazda 5 – Insurers use statistical claims data in order to profitably underwrite each model. Vehicles that are shown to have higher loss trends will cost more for specific coverages.
The table shown below demonstrates the compiled insurance loss statistics for Mazda 5 vehicles. For each insurance policy coverage type, the claim amount for all vehicles, regardless of make, model or trim level, is equal to 100. Percentage numbers below 100 indicate a favorable loss history, while percentage numbers above 100 indicate a higher chance of having a claim or statistically larger claims.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Mazda 5 | 86 | 86 | 73 | 103 | 95 | 91 |
Statistics from IIHS.org for 2013-2015 Model Years
Insurance coverage analysis
The premium information displayed below covers different insurance coverage prices for Mazda 5 models. Having a better idea how rates are formulated can help you make decisions when choosing a new policy provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 5 Sport Station Wagon | $188 | $324 | $360 | $22 | $108 | $1,002 | $84 |
| 5 Touring Station Wagon | $216 | $394 | $360 | $22 | $108 | $1,100 | $92 |
| 5 Grand Touring Station Wagon | $216 | $394 | $360 | $22 | $108 | $1,100 | $92 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Rate quotes do not factor in specific zip code location which can decrease or increase insurance rates greatly.
Choosing deductibles
One of the hardest decisions when shopping for auto insurance is how high or low should comp and collision deductibles be. The comparisons below can help you understand the differences in price of buying low and high comp and collision deductibles. The first rate table uses a $250 deductible for comprehensive and collision coverage and the second pricing table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 5 Sport Station Wagon | $298 | $472 | $376 | $22 | $112 | $1,305 | $109 |
| 5 Touring Station Wagon | $342 | $576 | $376 | $22 | $112 | $1,453 | $121 |
| 5 Grand Touring Station Wagon | $342 | $576 | $376 | $22 | $112 | $1,453 | $121 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 5 Sport Station Wagon | $184 | $298 | $376 | $22 | $112 | $992 | $83 |
| 5 Touring Station Wagon | $210 | $362 | $376 | $22 | $112 | $1,082 | $90 |
| 5 Grand Touring Station Wagon | $210 | $362 | $376 | $22 | $112 | $1,082 | $90 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Premium costs do not factor in specific location information which can decrease or increase auto insurance rates noticeably.
We can estimate from the data above that using a $250 deductible could cost the average driver approximately $29 more each month or $348 a year averaged for all 5 models than opting for 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 normally average at least 26 months between claim filings, you would more than likely save some money if you choose a higher deductible.
Calculate deductible break even point
| Average monthly premium for $250 deductibles: | $117 |
| Average monthly premium for $1,000 deductibles (subtract): | – $88 |
| Monthly savings from raising deductible: | $29 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $29 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 26 months |
The example below shows how choosing a deductible and can affect Mazda 5 insurance prices for different insured age categories. The price estimates are based on a married male driver, comp and collision included, and no discounts are applied to the premium.
Safe drivers pay cheaper rates
The diagram below demonstrates how speeding tickets and accident claims can impact Mazda 5 auto insurance rates for different age groups of insureds. Data assumes a married male driver, full physical damage coverage, $100 deductibles, and no discounts are applied.
How much more does full coverage cost in San Francisco?
The information below illustrates the comparison of Mazda 5 insurance rates with liability coverage only compared to full coverage. The costs are based on no claims or driving violations, $100 deductibles, single marital status, and no discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no exact formula to eliminate comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your Mazda 5 replacement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $7,000 after you pay the deductible. If premium cost is more than $700 a year for your policy with full coverage, then it might be time to buy liability only.
There are some cases where dropping full coverage is not financially feasible. If you still have a lienholder on your title, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Car insurance discounts help lower rates for Mazda 5 insurance in San Francisco
Insuring your vehicles can cost a lot, but you might be missing out on some discounts that could help you make your next renewal payment. Some trigger automatically when you get a quote, but some may not be applied and must be specially asked for before they will apply.
- Theft Prevention Discount – Anti-theft and alarm system equipped vehicles are stolen less frequently and can earn a small discount on your policy.
- Good Drivers – Drivers who don’t get into accidents could pay up to 40% less as compared to drivers with claims.
- Discount for New Cars – Buying insurance on a new vehicle can cost up to 25% less because newer vehicles keep occupants safer.
- Discount for Swiching Early – Some larger companies reward drivers for signing up before your current 5 insurance policy expires. It’s a savings of about 10%.
- Multi-Vehicle Discounts – Having several vehicles on one policy can get a discount on all vehicles.
- One Accident Forgiven – Not necessarily a discount, but some insurance companies will forgive one accident before raising your premiums if you have no claims for a certain period of time.
- Homeowners Savings – Owning a home in San Francisco may trigger a policy discount on car insurance because it requires personal responsibility.
- Resident Student – Kids who attend college more than 100 miles from San Francisco and won’t have access to an insured vehicle may be able to be covered for less.
Discounts lower rates, but most credits do not apply to the whole policy. Most only apply to specific coverage prices like physical damage coverage or medical payments. Even though it may seem like adding up those discounts means a free policy, you’re out of luck.
The diagram below visualizes the comparison of Mazda 5 insurance premiums with and without discounts being applied to the rates. The rates are based on a male driver, no driving violations, no at-fault accidents, California state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, claim-free, marriage, multi-car, and homeowner discounts applied.
To choose providers that can offer you the previously mentioned discounts in California, follow this link.
Persistent drivers can save
Cheaper Mazda 5 insurance in San Francisco can be purchased online in addition to local insurance agencies, and you should compare price quotes from both to have the best chance of lowering rates. A few companies may not have rate quotes online and these smaller providers provide coverage only through independent agents.
As you shop your coverage around, never sacrifice coverage to reduce premiums. In too many instances, someone dropped collision coverage and found out when filing a claim that it was a big mistake. Your aim should be to buy enough coverage for the lowest cost, but don’t skip important coverages to save money.
More articles
- Safe Vehicles for Teens (iihs.org)
- Who Has the Cheapest Auto Insurance After a Speeding Ticket in San Francisco? (FAQ)
- What Auto Insurance is Cheapest for Drivers with Accidents in San Francisco? (FAQ)
- What Insurance is Cheapest for Drivers Requiring a SR22 in San Francisco? (FAQ)
- What Car Insurance is Cheapest for a Honda Pilot in San Francisco? (FAQ)
- Who Has Cheap San Francisco Car Insurance for Veterans? (FAQ)
- What Insurance is Cheapest for 4×4 Vehicles in San Francisco? (FAQ)
- What Does No-Fault Insurance Cover? (Allstate)
- Teen Driver Statistics (Insurance Information Institute)
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)