What is the average insurance cost for a Mazda CX-5?

The average cost to insure a Mazda CX-5 in 2024 is approximately $1,816 per year or about $151 per month for a full coverage policy, which positions it as one of the more affordable small SUVs to insure.

Geographic location significantly impacts insurance costs, with rates varying widely.

For example, residents in Chicago may pay around $1,863 for insurance, while those in Los Angeles could see rates as high as $2,949 annually.

The trim level of the Mazda CX-5 plays a crucial role in determining insurance costs.

The base 2.5 S Select trim typically has a lower insurance rate, estimated at around $1,702 per year, compared to more advanced trims.

Factors such as age, driving history, and credit score also contribute to insurance premiums.

A 30-year-old single male with full coverage is often used as the standard profile for estimating average costs.

Insurance premiums tend to increase with the vehicle's model year due to rising market values.

For example, a 2023 Mazda CX-5 costs about $1,914 to insure annually, while a 2012 model might cost closer to $1,194.

Auto insurance premiums typically reflect a vehicle's safety and theft ratings.

The Mazda CX-5 has earned high marks in safety ratings from various organizations, which can lead to discounted insurance costs.

Studies show that approximately 31% of drivers purchase high liability limits and full coverage for their Mazda CX-5, which affects the average premium calculations and coverage options.

The Mazda CX-5's designation as a crossover SUV influences its insurance rates since smaller, lighter vehicles often command lower premiums compared to larger SUVs and trucks.

Full coverage is essential for newer vehicles, as it protects against damage and theft, which becomes a more significant factor with the rising cost of repairs and parts.

Insurance metrics have shown that older drivers generally pay lower premiums due to their more extensive driving experience and potentially better driving records compared to younger drivers.

Some insurers may offer discounts for good driving records or participating in programs that monitor driving habits, which can substantially reduce the overall cost of insurance for a Mazda CX-5.

Rates can fluctuate annually based on changes in risk, market conditions, and even legislative changes regarding insurance practices, making it essential to shop around for the best rates each year.

The average cost for insurance often represents just one component of total ownership costs, which also include depreciation, maintenance, fuel, and unexpected repairs that might arise over time.

Driving fewer miles per year can lead to lower insurance costs since many insurers calculate premiums based on the distance driven and the increased likelihood of being involved in accidents as mileage increases.

Regularly reviewing and updating coverage options can help ensure that policyholders are not over-insured or under-insured, which can significantly influence the financial impact of insurance rates.

Many insurance companies use complex algorithms and data analytics to assess risk and set premiums, which incorporates a wide range of factors beyond personal information alone, including regional accident rates and weather patterns.

The introduction of advanced safety technologies in newer Mazda CX-5 models, such as automatic emergency braking and adaptive cruise control, can lead to lower premium rates due to improved driver safety profiles.

A distinct trend in the insurance industry is encouraging drivers to adopt telematics technology, allowing companies to collect data on driving behavior to potentially reduce rates for safe driving practices.

Insurance companies often analyze claims data extensively.

For popular models like the Mazda CX-5, they assess claims frequency and severity to adjust premiums accordingly, making this information vital for consumers.

Understanding state-specific regulations and minimum coverage requirements is essential since these laws can dictate the types of policies available and influence the overall insurance costs for vehicles like the Mazda CX-5.