How to Compare El Paso Mazda CX-7 Insurance

Sad but true, a large majority of drivers kept their coverage with the same insurance company for over three years, and just under half have never compared quotes from other companies. With the average insurance premium being $2,680, El Paso drivers can cut their rates by nearly $1,770 a year, but they underestimate the large savings they would see if they just switched companies.

If you want to find the absolute lowest rates, then the best way to quote cheaper car insurance rates in El Paso is to compare quotes annually from insurance carriers that sell auto insurance in Texas. You can compare rates by completing these steps.

• Step 1: Try to learn about how insurance companies determine prices and the things you can control to lower rates. Many rating factors that result in higher prices such as tickets, at-fault accidents, and an unacceptable credit history can be eliminated by making minor driving habit or lifestyle changes. This article gives additional ideas to get cheaper coverage and earn larger discounts.
• Step 2: Get rate quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give rate quotes from one company like GEICO or Allstate, while agents who are independent can provide prices from multiple sources. Compare rates
• Step 3: Compare the new rate quotes to your current policy and determine if there is any savings. If you find a lower rate and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
• Step 4: Tell your current company of your intention to cancel your existing policy. Submit payment along with a signed and completed policy application to the new insurer. Immediately put the proof of insurance certificate in a readily accessible location in your vehicle.

A key point to remember is to make sure you’re comparing similar deductibles and liability limits on each price quote and and to get quotes from all possible companies. This guarantees a fair price comparison and a thorough selection of prices.

Keep in mind that comparing more prices gives you a better chance of getting a lower rate.

The providers in the list below can provide comparison quotes in El Paso, TX. If the list has multiple companies, it’s highly recommended you get rate quotes from several of them in order to get a fair rate comparison.

Discounts can help lower rates on Mazda CX-7 insurance in El Paso

Car insurance is not inexpensive, but there could be significant discounts that can drop the cost substantially. Certain reductions will be credited when you get a quote, but some discounts are required to be asked for before you get the savings.

• Own a Home and Save – Owning a house in El Paso can get you a discount due to the fact that maintaining a home requires a higher level of personal finance.
• Discount for Life Insurance – Insurance companies who offer life insurance give better car insurance rates if you take out life insurance.
• Data Collection Discounts – Insureds who allow companies to analyze their driving habits by using a small device installed in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system might see lower rates as long as the data is positive.
• Sign Early and Save – A few insurance companies offer discounts for switching to them before your current coverage expires. You could save around 10% when you buy El Paso car insurance online.
• Student Discount for Driver Training – Require your teen driver to enroll and complete driver’s education if it’s offered in school.
• Safe Drivers – Insureds without accidents can get discounts for up to 45% lower rates than drivers with accidents.
• Passive Restraint Discount – Vehicles with factory air bags can receive discounts up to 30%.
• Theft Prevention Discount – Cars, trucks, and SUVs with anti-theft systems are stolen less frequently and will save you 10% or more on CX-7 insurance in El Paso.
• Defensive Driver – Taking time to complete a defensive driver course could cut 5% off your bill if your company offers it.

It’s important to note that most discount credits are not given to all coverage premiums. Most only apply to specific coverage prices like medical payments or collision. Just because you may think you would end up receiving a 100% discount, it just doesn’t work that way.

The diagram below illustrates the comparison of Mazda CX-7 auto insurance costs with and without some available policy discounts. The data is based on a female driver, no tickets, no at-fault accidents, Texas state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, claim-free, multi-car, marriage, and safe-driver discounts applied.

Insurance companies that may offer quotes with some of the discounts shown above include:

• Farm Bureau
• Liberty Mutual
• State Farm
• Auto-Owners Insurance
• GEICO
• SAFECO

If you need low cost El Paso car insurance quotes, ask each insurance company how you can save money. Some of the earlier mentioned discounts may not be available everywhere.

Mazda CX-7 detailed coverage information

The premium table below highlights different rate quotes for Mazda CX-7 models. Learning as much as possible about how rates are formulated is important to be able to make decisions when shopping around.

Prices above based on married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Rate quotes do not factor in garaging location in El Paso which can increase or decrease rates significantly.

Raise deductibles and save

One of the more difficult decisions when buying insurance is where to set your physical damage deductibles. The comparisons below illustrate the difference in cost between high and low policy deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second price grid uses a $500 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Rate quotes do not factor in garaging location in El Paso which can influence coverage prices greatly.

Based on the figures above, using a $250 deductible will cost you approximately $16 more each month or $192 a year than opting for the higher $500 deductible. Since you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you tend to average more than 16 months between claim filings, you would come out ahead if you opt for a higher deductible.

One thing to be aware of is that higher deductibles means you will have to pay more when you have a claim. You must have access to more funds in the event you need to pay the higher deductible in order to repair your vehicle.

The diagram below illustrates how your deductible choice and can increase or decrease Mazda CX-7 insurance costs for different age groups. The rates are based on a married female driver, full physical damage coverage, and no additional discounts are factored in.

How careless driving impacts El Paso insurance rates

The information below demonstrates how speeding tickets and fender-benders increase Mazda CX-7 insurance premiums for each different age category. The premium estimates are based on a single male driver, comp and collision included, $500 deductibles, and no discounts are factored in.

Mazda CX-7 liability-only versus full coverage

The illustration below illustrates the difference between Mazda CX-7 yearly insurance costs when comparing full coverage to liability only. The data assumes no claims or driving citations, $500 deductibles, single marital status, and no discounts are applied to the premium.

When to drop comprehensive and collision

There is no written rule to eliminate physical damage insurance, but there is a general guideline. If the annual cost of your full coverage insurance is about 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.

For example, let’s assume your Mazda CX-7 replacement cost is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $8,000 after you pay the deductible. If you are paying in excess of $800 a year for your policy with full coverage, then it could be time to drop full coverage.

There are some circumstances where eliminating full coverage is not recommended. If you have an outstanding loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.

Buying from auto insurance agents

Some consumers still prefer to sit down with an agent and that is a personal choice. A nice benefit of getting online price quotes is that you can find cheaper rates and still buy from a local agent. Buying from and supporting neighborhood agents is important especially in El Paso.

After filling out this simple form, your insurance coverage information is instantly submitted to agents in your area who will give you bids for your business. It’s much easier because you don’t need to visit any agencies due to the fact that quote results will go to the email address you provide. You can most likely find cheaper rates without having to waste a lot of time. If you wish to quote rates from one company in particular, you can always visit that company’s website to submit a rate quote request.

If you prefer to buy car insurance from a local agent, you need to know there are two different types of agencies from which to choose. Car insurance agents can be categorized as either independent agents or exclusive agents.

Independent Car Insurance Agents

Agents in the independent channel are not required to write business for one company so they can write business through many companies depending on which coverage is best. If they quote lower rates, they simply move your policy to a different company and you don’t have to find a new agent. When comparison shopping, you absolutely need to compare prices from multiple independent agents to maximize your price options.

Below is a small list of independent agents in El Paso that may be able to give cheap rate quotes.

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Exclusive Car Insurance Agencies

Agents in the exclusive channel write business for a single company and some examples include Allstate, State Farm and Farmers Insurance. Exclusive agents cannot compare other company’s rates so they really need to provide good service. Exclusive insurance agents are well trained on what they offer and that can be a competitive advantage.

Shown below is a short list of exclusive insurance agencies in El Paso that can give you rate quotes.

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Choosing an insurance agent requires more thought than just a low price. A good agent in El Paso will have answers to these questions.

• Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
• What company do they have the most business with?
• Is vehicle damage repaired with OEM or aftermarket parts?
• Is assistance available after office hours?
• What is the financial rating for the quoted company?
• Who is covered by the car insurance policy?

Five factors that influence insurance costs

Smart consumers have a good feel for some of the elements that play a part in calculating car insurance rates. If you understand what determines base rates, this enables informed choices that may result in lower car insurance prices.

Shown below are some of the items companies use to determine premiums.

• Insurance rates for married couples – Getting married actually saves money compared to being single. It usually means you are more responsible it has been statistically shown that married couples file fewer claims.
• Never let your coverage expire – Driving without insurance coverage in place can get you a ticket and companies may charge more for letting your insurance coverage expire. In addition to paying higher premiums, being ticketed for driving with no insurance may earn you a steep fine or even jail time.
• High deductibles lower prices – Comprehensive and collision coverage deductibles are the amount of money you are willing to pay out-of-pocket if a covered claim is submitted. Physical damage protection, also called comprehensive and collision insurance, protects your car from damage. Some instances where coverage would apply are colliding with a stationary object, hail damage, and having a roll-over accident. The more money you choose to pay out-of-pocket, the lower your rates will be.
• What’s your car’s NHTSA crash test rating? – Safe vehicles can get you lower premiums. The safest vehicles protect occupants better and fewer serious injuries translates into savings for insurance companies and lower rates for you. If your Mazda CX-7 scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you may be receiving a better rate.
• Only buy coverage you need – Insurance companies have many optional add-on coverages that you can get tricked into buying if you don’t pay attention. Coverages like personal injury protection, high-cost glass coverage, and additional equipment coverage may be costing you every month. You may think they are a good idea when talking to your agent, but your needs may have changed so remove them from your policy.

Here’s why car insurance is not optional

Even though it can be expensive, insuring your vehicle serves a purpose in several ways.

First, almost all states have minimum liability requirements which means the state requires a specific minimum amount of liability coverage in order to drive the car. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if you have a loan on your CX-7, more than likely the lender will make it a condition of the loan that you buy insurance to guarantee payment of the loan. If the policy lapses, the lender may insure your Mazda at a more expensive rate and require you to pay for the much more expensive policy.

Third, car insurance protects both your assets and your car. It will also reimburse you for many types of medical costs for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, will also pay for a defense attorney if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.

The benefits of insuring your car more than cancel out the cost, specifically if you ever have a liability claim. In a recent study of 1,000 drivers, the average customer is overpaying over $825 a year so it’s important to compare rates once a year at a minimum to ensure rates are competitive.

Cheaper rates are available

As you go through the steps to switch your coverage, it’s a bad idea to skimp on coverage in order to save money. In many instances, an insured dropped full coverage only to find out that their decision to reduce coverage ended up costing them more. Your strategy should be to purchase plenty of coverage at the best cost, but do not sacrifice coverage to save money.

We’ve covered quite a bit of information on how to lower your Mazda CX-7 insurance rates in El Paso. The key thing to remember is the more times you quote, the better your chances of lowering your car insurance rates. Consumers could even find that the best rates are with some of the lesser-known companies. These smaller insurers may often insure only within specific states and give better rates than their larger competitors like State Farm and Allstate.

More information

• Rental Reimbursement Coverage (Allstate)
• Collision Coverage (Liberty Mutual)
• Eight Auto Insurance Myths (Insurance Information Institute)