2003 Toyota Matrix Insurance Quotes

Looking for the cheapest auto insurance rates? Shoppers have a choice when shopping for low-cost Toyota Matrix insurance. They can either waste time struggling with agents to get rate comparisons or use the internet to find the lowest rates.

There are both good and bad ways to buy auto insurance and we’ll show you the best way to price shop coverage for your Toyota and find the best price possible either online or from local insurance agents.

It’s a good idea to check auto insurance prices periodically because insurance rates are usually higher with each renewal. Despite the fact that you may have had the lowest price for Matrix coverage on your last policy there is a good chance you can find better rates now. Forget anything you know (or think you know) about auto insurance because you’re about to find out the proper way to find the best coverage while lowering your premiums.

Companies offer discounts so take them!

Insuring your vehicles can cost a lot, but there could be available discounts to cut the cost considerably. Certain discounts will be applied at the time of quoting, but some may not be applied and must be requested specifically in order for you to get them. If you’re not getting every credit possible, you are paying more than you should be.

  • Theft Prevention Discount – Anti-theft and alarm systems prevent vehicle theft and will save you 10% or more.
  • Save with a New Car – Buying coverage on a new vehicle can cost up to 25% less compared to insuring an older model.
  • Payment Discounts – If you pay your entire premium ahead of time instead of making monthly payments you could save 5% or more.
  • Low Mileage Discounts – Driving fewer miles could qualify for a substantially lower rate.
  • Homeowners Pay Less – Being a homeowner can help you save on insurance coverage because owning a home is proof that your finances are in order.
  • Government Employees – Simply working for the federal government can earn a discount up to 10% for Matrix coverage with select insurance companies.
  • College Student – Children living away from home attending college and do not have access to a covered vehicle can be insured at a reduced rate.
  • Air Bag Discount – Cars that have air bags or motorized seat belts can receive discounts of up to 25% or more.
  • Drivers Education – Require your teen driver to successfully complete driver’s ed class in school.

As a disclaimer on discounts, some credits don’t apply to the entire cost. Most only apply to the cost of specific coverages such as liability, collision or medical payments. Even though it may seem like having all the discounts means you get insurance for free, it doesn’t quite work that way. But any discount will cut your premiums.

To see a list of providers offering insurance coverage discounts, follow this link.

Do I just need basic coverages?

When it comes to buying proper insurance coverage for your vehicles, there is no best way to insure your cars. Everyone’s situation is unique.

These are some specific questions might point out if your situation will benefit from professional help.

  • Do I have coverage for damage caused while driving under the influence?
  • Does medical payments coverage apply to all occupants?
  • What is the minimum liability in my state?
  • Do all my vehicles need collision coverage?
  • What happens if I owe more than my 2003 Toyota Matrix is worth?
  • Why am I required to get a high-risk car insurance policy?
  • Is other people’s property covered if stolen from my vehicle?
  • Does my policy pay for OEM or aftermarket parts?

If you can’t answer these questions, you may need to chat with a licensed insurance agent. If you don’t have a local agent, complete this form. It’s fast, doesn’t cost anything and can help protect your family.

Misconceptions in car insurance advertisements

Consumers can’t ignore all the ads that promise big savings from the likes of Allstate and Progressive. All the ads make an identical promise that you can save after switching your coverage to them.

How can each company make almost identical claims? It’s all in the numbers.

All companies have a certain “appetite” for the right customer that is profitable for them. For instance, a driver they prefer could possibly be between 25 and 40, owns a home, and has a high credit rating. A customer getting a price quote who meets those qualifications gets the lowest rates and therefore will cut their rates substantially.

Potential customers who don’t measure up to this ideal profile must pay a more expensive rate and ends up with business not being written. Company advertisements say “customers who switch” but not “drivers who get quotes” save that kind of money. This is how companies can truthfully state the savings.

This illustrates why you absolutely need to get a wide range of price quotes. It’s not possible to predict the company that will have the lowest Toyota Matrix insurance rates.

Auto insurance coverage information

Learning about specific coverages of your auto insurance policy can help you determine appropriate coverage at the best deductibles and correct limits. Auto insurance terms can be ambiguous and nobody wants to actually read their policy.

Comprehensive coverage (or Other than Collision)

This pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things such as damage from a tornado or hurricane, fire damage, hitting a deer, vandalism and damage from flooding. The most you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Insurance for medical payments

Medical payments and Personal Injury Protection insurance reimburse you for expenses such as EMT expenses, dental work and pain medications. They are used to fill the gap from your health insurance program or if you are not covered by health insurance. It covers both the driver and occupants as well as any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Coverage for collisions

Collision insurance pays for damage to your Matrix resulting from a collision with another car or object. A deductible applies then your collision coverage will kick in.

Collision can pay for claims like hitting a mailbox, colliding with a tree, rolling your car, hitting a parking meter and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to increase the deductible in order to get cheaper collision rates.

Uninsured Motorist or Underinsured Motorist insurance

This protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your Toyota Matrix.

Since many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea. Frequently the UM/UIM limits are similar to your liability insurance amounts.

Liability car insurance

Liability coverage can cover damages or injuries you inflict on other people or property in an accident. It protects YOU from claims by other people, and doesn’t cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property. Some companies may use a combined limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things such as loss of income, repair costs for stationary objects, structural damage and legal defense fees. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as high a limit as you can afford.

In the end, you save

We just presented some good ideas how to compare 2003 Toyota Matrix insurance prices online. The key concept to understand is the more quotes you get, the more likely it is that you will get a better rate. Consumers may even find the best prices are with some of the smallest insurance companies.

Budget-conscious insurance is available on the web and with local insurance agents, so you should compare both so you have a total pricing picture. There are still a few companies who do not offer online quoting and these regional insurance providers work with independent agents.

When you buy insurance online, it’s a bad idea to reduce coverage to reduce premium. There are a lot of situations where an insured dropped liability limits or collision coverage and learned later that their decision to reduce coverage ended up costing them more. Your goal should be to find the BEST coverage for the lowest price, not the least amount of coverage.

Additional detailed information can be read by following these links: