Mazda Ponders Launching Its Own Car Insurance

The CX-60 and the incoming CX-80 in Europe, plus the CX-70 and the CX-90 in North America, show that Mazda perfectly understood what was happening in the premium-luxury car segment. Prices went across the board with established German manufacturers, which left enough room for a premium brand like Mazda to make a soft push in the entry-level luxury segment.

The Homura and Takumi trims especially put quality materials on display and reveal a distinct attention to detail.

But Mazda's not done. The brand appears to have a new project in the pipeline – insurance! The automaker has a community called "Mazda Insiders," which only some customers are invited to be a part of. Those who agree to be in the club are asked a couple of questions every now and then. Their answers are important because that's how some ideas end up canceled or advancing to the next stage of development.

The "Insiders" community is a great idea and may result in exclusive perks for those who help Mazda evolve. Some veterans stated that the automaker invited them to private events and even offered them access to track days or secret premieres of new cars. Yes, fancy dinners and cool accommodations were part of the package.

If you get the chance to join, don't worry about saying exactly what you think. Mazda promises to keep everything anonymous. It won't use your data for direct marketing or sales purposes.

Mazda insurance?

But that doesn't mean that owners who are part of the club won't share the automaker's plans with others. That's how we found out that Mazda wants to launch an insurance plan that will offer:

• Upfront savings;
• OEM parts for collision repairs;
• Car replacement in the first year if your Mazda gets stolen or is totaled (without factoring in depreciation);
• No premium hike after your first accident;
• Around-the-clock roadside assistance;
• Discount based on how many Mazdas you insured through the automaker;
• Bundle discount for adding other insurable possessions;
• Usage-based discount based on data coming from the vehicle's sensors.

That sounds like a great product in the making, except for the last part. Usage-based insurance forces you to drive like a robot. You have to be very, very careful while sitting behind the steering wheel, which may add to your general stress levels.

Tesla owners who chose the brand's insurance service enjoyed lower premiums, but they also realized that spirited driving was out of the question. Many saw their costs increasing because the system deemed their driving style a bit more dangerous, even though they had to brake or accelerate because of somebody else. At the same time, driving a car that can put almost all its power down instantenously without being able to enjoy that perk once in a while may become frustrating.

Mazda didn't share any possible premiums, which is understandable. There are many factors involved in figuring out what one should pay on a monthly, quarterly, semiannually, or yearly basis to have a financial backup at the time of an emergency. For example, most insurers take into account the following variables to establish your payment:

• Driving record;
• How much you drive within a certain period;
• Where you live;
• How old you are;
• Your gender (statistically, women get involved in fewer collisions and don't often drive while under the influence);
• Your car's likelihood of theft;
• Your car's ability to inflict more damage on another vehicle;
• Your credit-based insurance score (the likelihood of filing a claim);
• The amount of your deductible and other bits and pieces.

Keep in mind that your premium might also increase because of factors that have nothing to do with you personally or your car. More recently, insurers hiked their rates because repair costs have climbed considerably. Pricey healthcare is also a component that is taken into account. It's a complicated formula.

Discounts? More than welcomed!

However, many owners with clean records of 2023 model-year Mazdas pay around $2,000 or more per year to have full coverage. Some even said they spent over $3,000 per year to protect their ride and personal liability. Thus, a new provider that offers better rates is most certainly welcomed.

But Mazda's Insiders community could have also helped with CX-70's development. The brand should have consulted its customers about the Japanese alternative to Germany's X5, Q7, and GLE. It could have been more than a two-row CX-90.

At the end of the day, Mazda's plan to become an insurance provider is welcomed. The more, the merrier. Car owners need more options, and increased competition is always good for the end consumer. Everyone likes paying less for the same service or product. And, let's be honest, drivers do deserve a break after a hectic two years. The car market wasn't very friendly.

Fingers crossed, maybe it'll actually work out. We can only hope it won't bring a-la-Tesla surveillance of the driver's every input and road behavior. Nobody wants their premium to go up because of an occasional quick acceleration or a hard brake.