Mazda’s racing performance section created the Mazdaspeed3 — a sport compact hatchback — in 2007 and released it. Despite the fact that it was only in production until 2013, it remains relatively popular. The Mazdaspeed3 is a sport hatchback with relatively high insurance costs, given that there hasn’t been a new model since 2013. The Mazda speed3 insurance cost is about $200 per month, or $2,400 per year, which is much more than the national average of $1,300. This also results in an annual insurance cost-to-base ratio of about 12% for a $20,000 automobile, which is much higher than the national average of 4%.
How do I compare insurance for the Mazdaspeed3?
The Mazdaspeed3 is a sport performance hatchback, thus its rating elements are a mix of high and low. However, because it hasn’t been in production since 2013, rates will be cheaper for a used model than for a new one. The Mazdaspeed3’s rates are additionally influenced by the following elements.
- Body type. The Mazdaspeed3 is a hatchback, which, along with station wagons, is one of the least expensive vehicle categories to insure. It is, however, a performance car, and as such, has higher insurance premiums than regular automobiles owing to the increased chance of an accident.
- Fuel. The Mazdaspeed3 is a performance car that achieves better economy than its regular sibling, the Mazda3. However, its 18 mpg city and 25 mpg highway fuel economy is reasonable for a performance car. Keep in mind that automobiles with lesser mpg tend to have higher insurance premiums.
- Theft rates. Mazda’s theft rates are about average across the board, with the Mazda 323 being the most likely to be stolen. Insurance companies may boost a vehicle’s insurance costs if the theft rate is average or higher than normal.
- Maintenance. There are no published yearly maintenance cost averages for the Mazdaspeed3. However, because it is a foreign high-performance vehicle, replacement parts and maintenance may be expensive and difficult to come by. This may have an adverse effect on its insurance premiums.
- Coverage. A used Mazdaspeed3 will most likely cost between $10,000 and $20,000 USD. Even at this low cost, you may wish to carry full coverage to safeguard against disasters like theft and fire. You could forego collision coverage if you can pay for it out of pocket if you collide with another vehicle.
- Warranty. Mazda’s new car warranty, which covers brand new Mazda’s for three years or 36,000 miles, will not apply to the Mazdaspeed3. This also means you won’t have free roadside help, so if you need it, you’ll need to add it to your insurance policy.
- Manufacturer offer. Mazda exclusively makes special deals and discounts on new vehicles, but you might be able to get a good bargain on a used Mazdaspeed3.
Does the Mazdaspeed3 qualify for discounts?
The Mazdaspeed3 should be eligible for at least part of the savings listed below, but the precise amount will depend on the model you have and what your insurance provider offers.
- Passive restraint discount
- Anti Lock brake discount
- Airbag discount
- Antitheft system discount
- Stability control
- Seatbelt pretensioners discount
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How reliable is the Mazdaspeed3?
The Insurance Institute for Highway Safety (IIHS) and the National Highway Traffic Safety Administration (NHTSA) gave the Mazdaspeed3 no official safety or reliability ratings (NHTSA). However, because both organizations evaluate the virtually equivalent Mazda3, you may fairly assume that the Mazdaspeed3 will be ranked similarly.
- Safety. The standard Mazda3 has already been named an IIHS Top Safety Pick+, and the NHTSA has given it a 5 out of 5 star safety rating. While the Mazdaspeed3 would not be eligible for these awards owing to its extreme performance, it does share many of the same safety features.
- Reliability. J.D. Power gives the normal Mazda3 an average 3-star reliability rating, therefore you can fairly anticipate the high-performance Mazdaspeed3 to have the same or worse dependability rankings.
- Recalls. There were various recalls on both the Mazdaspeed3 and Mazda3 models from 2008. This might influence your maintenance expenses, so get your Mazdaspeed3 thoroughly serviced and keep a look out for recall information.
The Mazdaspeed3 was only in existence for seven years, yet it remains a beloved sport hatchback. Its vehicle body design helps to counterbalance the car’s high performance character, yet it still has high insurance premiums for a vehicle that has been out of production since 2013.
For more car insurance rates and reviews, check out our Subaru WRX Insurance Cost.