Cheaper 2006 Toyota Matrix Insurance Cost

Shoppers have a choice when shopping for the best price on Toyota Matrix insurance. You can either waste hours driving around to compare prices or use the internet to compare rates.

There are both good and bad ways to shop for insurance and we’ll show you the absolute fastest way to quote coverages on a Toyota and find the cheapest rates either online or from local insurance agents.

If you have a policy now or need new coverage, you can follow these tips to cut your premiums while maintaining coverages. The purpose of this post is to help you learn the best way to quote coverages and some money-saving tips. Drivers only need to know how to get comparison rates on the web.

Factors influencing Toyota Matrix insurance rates

An important part of buying insurance is that you know some of the elements that play a part in calculating your auto insurance rates. Having a good understanding of what influences your rates enables informed choices that can help you get lower auto insurance prices.

Shown below are some of the items auto insurance companies consider when setting your rates.

  • High crash test scores lower rates – Vehicles with high crash test scores get lower rates. These vehicles reduce injuries and any reduction in injury severity translates into fewer and smaller insurance claims and thus lower rates. If your Toyota earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may be receiving lower rates.
  • Protect your assets with liability insurance – The liability section of your policy is the protection when you are found to be at fault for damages from an accident. It will provide legal defense coverage which can cost thousands of dollars. Liability insurance is quite affordable compared to insuring for physical damage coverage, so buy as much as you can afford.
  • Always keep insurance in force – Driving with no insurance is a misdemeanor and your next policy will cost more because you let your coverage have a gap. Not only will rates go up, but being ticketed for driving with no insurance can result in a steep fine or even jail time.
  • Proper usage rating affects rates – The higher the mileage driven each year the more you will pay for auto insurance. Most insurance companies rate vehicles determined by how the vehicle is used. Vehicles used primarily for pleasure use qualify for better rates than vehicles that are driven to work every day. An improperly rated Matrix can result in significantly higher rates. Double check that your auto insurance declarations sheet properly reflects the correct usage for each vehicle.
  • Your car’s features help determine rates – Owning a car that has an advanced theft prevention system can help bring down rates. Anti-theft features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent your vehicle from being stolen.
  • Your credit rating is important – Your credit score is a huge factor in determining what you pay for auto insurance. People with good credit tend to be more responsible than drivers who have poor credit. If your credit rating is low, you could be paying less to insure your 2006 Toyota Matrix by repairing your credit.
  • Men pay higher rates – The statistics show that women are safer drivers than men. However, this does not mean men are WORSE drivers than women. They both cause accidents at about the same rate, but the men have costlier accidents. Men also statistically receive more costly citations such as DWI and reckless driving. Male drivers age 16 to 19 are several times more likely to be in an accident and thus pay the highest rates.
  • How your age affects price – Youthful drivers are statistically proven to get distracted easily when driving so auto insurance rates are higher. Adding a teenage driver to your policy can really hurt. More mature drivers are more responsible, tend to cause fewer accidents and get fewer tickets.

Save big with these discounts

Car insurance is not cheap, but you may find discounts to reduce the price significantly. Some discounts apply automatically at the time you complete a quote, but some must be requested specifically before you will receive the discount. If you aren’t receiving every discount you qualify for, you are paying more than you should be.

  • Multi-policy Discount – When you have multiple policies with the same company you may save 10% to 20% off each policy.
  • Passive Restraints and Air Bags – Vehicles with factory air bags or automatic seat belts can get savings of more than 20%.
  • Homeowners Pay Less – Owning a house can save you money due to the fact that maintaining a home demonstrates responsibility.
  • Multiple Vehicles – Insuring multiple vehicles on one policy qualifies for this discount.
  • Drive Less and Save – Driving fewer miles could be rewarded with lower rates on the low mileage vehicles.
  • Defensive Driving Course – Completing a course in driver safety could cut 5% off your bill depending on where you live.
  • Auto/Life Discount – Select insurance companies reward you with lower rates if you buy auto and life insurance together.
  • Save over 55 – Mature drivers can possibly qualify for a small decrease in premiums for Matrix coverage.
  • Organization Discounts – Affiliation with a professional or civic organization may earn a discount when shopping for auto insurance for Matrix coverage.

As a disclaimer on discounts, many deductions do not apply to all coverage premiums. Most only cut specific coverage prices like physical damage coverage or medical payments. Just because you may think adding up those discounts means a free policy, companies wouldn’t make money that way. But all discounts will reduce your overall premium however.

Companies that possibly offer these discounts include:

Check with every prospective company what discounts are available to you. Savings may not apply in your area.

Advertising myths

Consumers get pounded daily by advertisements for cheaper car insurance from the likes of 21st Century, Allstate and State Farm. All the companies say the same thing that you’ll save big if you move your coverage to them.

How do they all make the same claim? This is how they do it.

All the different companies have a preferred profile for the driver that earns them a profit. For example, a driver they prefer could be between the ages of 40 and 55, has no prior claims, and drives newer vehicles. A customer who matches those parameters will qualify for the lowest rates and therefore will pay quite a bit less when switching companies.

Potential customers who fall outside the requirements will be charged higher rates which usually ends up with business going elsewhere. The ads state “people who switch” not “people who quote” save that much. This is how insurance companies can advertise the savings.

That is why drivers must get a wide range of price quotes. You cannot predict which insurance companies will fit your personal profile best.

But I don’t know anything about car insurance

When it comes to buying the best car insurance coverage, there isn’t really a single plan that fits everyone. Coverage needs to be tailored to your specific needs.

Here are some questions about coverages that might help in determining if your situation would benefit from an agent’s advice.

  • Are all vehicle passengers covered by medical payments coverage?
  • Are rental cars covered under my policy?
  • Is my state a no-fault state?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • Do I have coverage when using my vehicle for my home business?
  • Do I have coverage when making deliveries for my home business?

If you can’t answer these questions but a few of them apply, you may need to chat with an agent. If you don’t have a local agent, simply complete this short form. It is quick, free and may give you better protection.

Insurance coverage options for a Toyota Matrix

Learning about specific coverages of a insurance policy helps when choosing the best coverages and the correct deductibles and limits. Policy terminology can be confusing and coverage can change by endorsement.

Collision protection

This coverage covers damage to your Matrix resulting from a collision with an object or car. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like colliding with another moving vehicle, sideswiping another vehicle and crashing into a ditch. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to get cheaper collision coverage.

Comprehensive protection

Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like falling objects, damage from a tornado or hurricane, damage from getting keyed and hitting a bird. The most you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Uninsured or underinsured coverage

This coverage provides protection from other drivers when they are uninsured or don’t have enough coverage. Covered losses include medical payments for you and your occupants and damage to your Toyota Matrix.

Due to the fact that many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Normally these limits are similar to your liability insurance amounts.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage pay for expenses for hospital visits, surgery, doctor visits, rehabilitation expenses and chiropractic care. They are often utilized in addition to your health insurance policy or if there is no health insurance coverage. Coverage applies to all vehicle occupants as well as being hit by a car walking across the street. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

Liability car insurance

This coverage can cover damages or injuries you inflict on a person or their property that is your fault. It protects you against other people’s claims. It does not cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 25/50/25 which stand for $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged propery. Alternatively, you may have a combined limit which limits claims to one amount and claims can be made without the split limit restrictions.

Liability coverage pays for things such as court costs, pain and suffering, loss of income and attorney fees. The amount of liability coverage you purchase is your choice, but it’s cheap coverage so purchase as much as you can afford.

A little work can save a LOT of money

When you buy insurance online, do not buy less coverage just to save a little money. In many instances, someone dropped full coverage to discover at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to buy the best coverage you can find at an affordable rate while not skimping on critical coverages.

We’ve covered a lot of techniques to get a better price on 2006 Toyota Matrix insurance. It’s most important to understand that the more times you quote, the higher your chance of finding lower rates. You may even discover the most savings is with the smaller companies.

Consumers leave their current company for many reasons like an unsatisfactory settlement offer, being labeled a high risk driver, high prices or questionable increases in premium. It doesn’t matter why you want to switch choosing a new insurance company is easier than you think.

Even more information is located by following these links: