2008 Toyota Matrix Insurance Rates

Trying to find the cheapest car insurance rates for your Toyota Matrix? Tired of robbing Peter to pay Paul to buy car insurance? You’re in the same situation as many other consumers.

Many car insurance companies vie to insure your vehicles, so it can be very hard to choose a company to get the lowest cost out there.

Pay less by taking advantage of discounts

Companies offering auto insurance do not list every discount very well, so here is a list both well-publicized and the more hidden ways to save on insurance coverage.

  • Save over 55 – Older drivers may receive a discount up to 10% for Matrix insurance.
  • Good Student – Performing well in school can save 20 to 25%. The discount lasts well after school through age 25.
  • Low Mileage Discounts – Keeping the miles down on your Toyota can earn better rates on cars that stay parked.
  • Defensive Driving Course – Successfully completing a driver safety course could possibly earn you a 5% discount if your company offers it.
  • Clubs and Organizations – Participating in certain professional organizations could trigger savings on insurance coverage for Matrix insurance.
  • Government Employees – Being employed by or retired from a federal job may qualify you for a discount for Matrix insurance with select insurance companies.
  • Air Bag Discount – Vehicles with factory air bags or motorized seat belts can qualify for discounts of up to 25% or more.
  • Multi-policy Discount – If you insure your home and vehicles with one company you will save at least 10% off all policies.
  • Claim Free – Drivers with accident-free driving histories pay much less when compared to frequent claim filers.

It’s important to understand that many deductions do not apply to the entire cost. Some only apply to the price of certain insurance coverages like physical damage coverage or medical payments. So even though they make it sound like all the discounts add up to a free policy, it doesn’t quite work that way.

To see a list of providers with the best insurance coverage discounts, follow this link.

Your coverage should be tailored to you

When it comes to buying adequate coverage, there isn’t really a “perfect” insurance plan. Everyone’s situation is unique so this has to be addressed. Here are some questions about coverages that can aid in determining if your situation would benefit from professional advice.

  • Am I missing any policy discounts?
  • Should I buy only the required minimum liability coverage?
  • Exactly who is provided coverage by my policy?
  • Can I still get insurance after a DUI?
  • Is other people’s property covered if stolen from my vehicle?
  • When would I need rental car insurance?
  • Do all my vehicles need collision coverage?
  • Does my policy cover my teen driver if they drive my company car?

If you’re not sure about those questions then you might want to talk to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies.

Car insurance 101

Knowing the specifics of your policy can help you determine which coverages you need at the best deductibles and correct limits. Auto insurance terms can be difficult to understand and reading a policy is terribly boring. Shown next are typical coverages available from auto insurance companies.

Coverage for liability

This coverage protects you from damages or injuries you inflict on a person or their property that is your fault. This coverage protects you against other people’s claims. Liability doesn’t 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. Your policy might show values of 100/300/100 that means you have a limit of $100,000 per injured person, $300,000 for the entire accident, and $100,000 of coverage for damaged propery.

Liability coverage protects against things such as pain and suffering, emergency aid, legal defense fees and medical services. How much liability should you purchase? That is your choice, but you should buy as large an amount as possible.

Coverage for medical payments

Med pay and PIP coverage kick in for bills for things like hospital visits, nursing services and surgery. They are used to fill the gap from your health insurance policy or if you do not have health coverage. Medical payments and PIP cover you and your occupants and also covers if you are hit as a while walking down the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family.

Comprehensive coverages

This coverage pays for damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims such as damage from getting keyed, rock chips in glass, theft, a tree branch falling on your vehicle and hail damage. The maximum amount your auto insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Auto collision coverage

This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.

Collision insurance covers things like colliding with another moving vehicle, sustaining damage from a pot hole, crashing into a ditch, rolling your car and hitting a parking meter. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. You can also raise the deductible to save money on collision insurance.

More choices the merrier

We just presented a lot of ways to save on 2008 Toyota Matrix insurance. It’s most important to understand that the more you quote, the better your chances of lowering your rates. Consumers may even find the lowest rates come from a small mutual company. Regional companies may cover specific market segments cheaper than the large multi-state companies such as State Farm or Progressive.

Budget-conscious insurance can be sourced both online and also from your neighborhood agents, and you should be comparing both to have the best rate selection. Some insurance companies may not provide online price quotes and these small, regional companies work with independent agents.

More detailed insurance information is located at these sites: