Mazda MX-5 insurance group and cost

The Mazda MX-5 is one of the most well-known sports cars you’ll see on the road. This is because it’s historically offered good value for money. In this guide, we’ll look at car insurance costs for the MX-5 and how you could save on your premiums.

How much does it cost to insure a Mazda MX-5?

To give you an idea of how much it could cost you to insure your car, we ran a number of quotes to find an average figure. Our results estimated that, on average, you could insure your Mazda MX-5 with a comprehensive policy for the monthly price of £93.25, or an annual sum of £1,024.23.

• How we got this rate

  We generated these quotes using the following assumptions.

  The vehicle is/has:

  • A 2018 model
  • Manual transmission
  • A 1.2 litre petrol engine
  • 5 seats
  • 5 doors
  • Factory fitted alarm system
  • Not modified
  • Used for social, domestic and commuting purposes
  • 10,000 mileage per year
  • Parked in a work car park during the day
  • Parked on a driveway at night

  The driver is/has:

  • A 30-year-old, single teacher from London
  • A homeowner
  • 5 years’ no claims discount
  • No driving or other convictions in the last 5 years

However, this is just an average: your actual premium will depend on a number of factors, including the insurance group the car is in.

Mazda MX-5 insurance groups

Vehicles in the UK are categorised into insurance groups, ranging from 1 (the cheapest) to 50 (the most expensive), which partly determine the cost of your premium.

Mazda MX-5 models range from the mid-priced group 25 to the pricier group 34. This means the cost of insurance can vary significantly between various MX-5 models, from the more affordable end of the spectrum to just into the pricier end of the range. For example, a 30-year-old driver in an average postcode could pay:

• around £679 for cover on a Mazda MX-5 1.5 SE 2d, which is in insurance group 25
• or around £908 for a group 32 car, like the Mazda MX-5 SkyActiv-G 184ps GT Sport Nav+ 2d

In this example, the difference in price is an extra £32 per year for the sportier model that is seven insurance groups higher. The insurance group a model is placed in depends on a number of factors including the model’s engine size and price.

However, the insurance group isn’t the only factor determining the cost of your car insurance: one of the most important other factors is your age. The younger you are, the more risk you represent to insurers, and the more you’re likely to pay for insurance.

That’s why, in the table below, we show you the cost you’d be likely to pay at a few different ages.

• How we got these rates

  These rates are based on the average cost of cover for cars in the insurance groups shown, for drivers of different ages with a Newcastle (NE1) postcode, which our research suggests represents an average for insurance rates in the UK. Updated: June 2024 (source: Confused).

Mazda MX-5 insurance cost by location

The table above shows the average cost of Mazda MX-5 insurance based on insurance groups and driver age. However, many other factors affect the cost of your car insurance premiums, and one of the biggest is where you are in the UK. Where you live helps determine the level of risk that your car may be stolen or that you’ll be involved in an accident, and this affects the cost of insurance.

To demonstrate the power of the postcode, here are some average quotes for a 30-year-old living in three different locations. The quotes are for a Mazda MX-5 Skyactiv-G 1.5 132ps SE-L 2d.

• Expensive: £2,202 (London SE1)
• Average: £831 (Newcastle NE1)
• Cheap: £962.14 (Galashiels TD1)

• How we got these rates

  These rates are based on the average cost of cover for cars in the locations shown. Our research suggests SE1 is one of the most expensive locations, NE1 represents an average cost location and TD1 represents one of the cheapest locations. Updated: June 2024 (source: Confused).

What other factors affect my insurance rate?

We’ve covered the impact of insurance group, driver age and location. Here are some of the other factors that affect your insurance premium costs:

• Your marital status
• Your credit history and job
• Your car’s safety rating score
• The model of your car, especially its engine size and capacity
• The age of your car
• Your car’s security and any extra anti-theft precautions
• Annual miles driven
• Your driving history and activity
• No-claims discount

How can I save on insurance premiums for my Mazda MX-5?

When searching for insurance, you’ll want to find the best deal for a price that’s within your budget. We’ve uncovered some tricks you can try to lower the cost of your premium: take a look below.

• Limit your car usage (where possible). Occasionally deciding to walk or get public transport, rather than using your car, can help to save on your premiums.
• Pay annually rather than monthly. It might be scary to part with a large sum in one go, but if you’re able to pay annually you may be able to save a good chunk of money each year.
• Don’t just accept your renewal quote. When it’s time for renewal, it’s worth investing a couple of hours to shop around: there may be cheaper options out there.

Is a Mazda MX-5 expensive to insure?

Finder insurance expert Danny Butler answers

Let’s say you’re doing everything you can from the list above: you’re driving less, you’re paying annually, you’re shopping around for insurance quotes. Does that mean you’ll find an MX-5 cheap to insure?

As we’ve already established, it depends on the model. One factor affecting insurance groups is engine size. In general, the bigger the engine, the higher the cost of your insurance, because these engines are more expensive to repair or replace. For example, it may cost £679 to insure the 1.5-litre Mazda MX-5 1.5 SE-L 2d, while you may pay £680 for the 2.0-litre Mazda MX-5 2.0 SE-L 2d.

Finally, the safer your car is, the less of a risk it will be for companies to insure, and therefore the lower your premium is likely to be. The Mazda MX-5 was awarded 4 stars out of 5 under the Euro NCAP safety analysis. MX-5 models score well across the board with 93% for pedestrian safety and 84% for adult occupant safety.

Ask your insurer about additional safety and/or security features you could install to lower your premiums and keep you and your passengers safe.

Bottom line

MX-5 models aren’t the cheapest to insure, but you can use the tips in this guide to help keep your premiums down. If you’re on the lookout for a car insurance provider, check out our comprehensive list of the best car insurance companies in the UK.

Frequently asked questions

• How much does a Mazda MX-5 cost?

  As of January 2023, Mazda MX-5 on-the-road prices range from £25,725 to around £32,350, depending on the version.

• What is the top speed of a Mazda MX-5?

  Depending on the model, Mazda MX-5s can reach top speeds of 135.5mph.

• How much car tax do I have to pay for the Mazda MX-5?

  Car tax rates depend on the car’s emissions: see the UK government website for details.

• Where can I buy a Mazda MX-5?

  You can buy a Mazda MX-5 online or by visiting your local Mazda retailer. You can also buy Mazda MX-5s through various motor resellers and websites.

• Is a Mazda MX-5 a good first car?

  In terms of being easy to drive, this isn’t a bad choice for a first car. However, since younger and newer drivers pay more for insurance to begin with, we’d recommend you go for a car that’s cheaper to insure.

• Is the Mazda MX-5 cheap to run?

  The Mazda MX-5 is almost certainly going to be cheaper to run than any rival, mostly due to its fuel efficiency (see below) but also the fact that it’s relatively simply built and therefore less liable to need complex repairs.

• Does the Mazda MX-5 use a lot of fuel?

  According to WLTP measures, the 1.5-litre model returns 44.8mpg and the 2.0-litre returns 40.9mpg. Impressively, MX-5 models have actually done better than these figures in real-life driving conditions.
  

• Is the Mazda MX-5 being phased out?

  Not as far as we know.

Written by

Grace Fletcher-Hackwood

Writer

Grace was a Finder writer specialising in credit and loans. She's been writing about personal finance for several years and enjoys helping consumers sort the facts from the fluff. See full bio