How to Get the Absolute Best Rates When Comparing Insurance for a Toyota Matrix

Have you had enough of robbing Peter to pay Paul to pay your car insurance bill each month? You’re in the same situation as the majority of other car owners. Big companies like GEICO, Progressive and Allstate all claim big savings, bombarding you with ad campaigns and consumers find it hard to not get sucked in by the cute commercials and effectively compare rates to find the best deal.

If you have a policy now or need a new policy, you can use these techniques to shop for the lowest rates and still get good coverage. Choosing the best insurance company for you is easy if you know what you’re doing. Drivers only need an understanding of the tricks to compare price quotes on the web.

Free Quotes for Auto Insurance

There are a variety of methods to compare auto insurance prices but some are easier and takes less work. You could waste a few hours talking to agents in your area, or you could save time and use the internet to accomplish the same thing much quicker.

Many of the larger companies belong to a marketplace where prospective buyers submit their information once, and each participating company can provide price quotes. This saves time by eliminating quotation requests for each company you want a rate for.

To enter your information into the quoting system, click here (opens in new window).

The one downside to getting quotes like this is that consumers can’t choose the providers to receive prices from. So if you prefer to choose individual companies for rate comparison, we have a listing of companies who write auto insurance in your area. Click here for list of insurance companies.

It’s up to you which method you use, but ensure you’re using apples-to-apples coverage limits on every quote. If the quotes have different values for each quote it will be impossible to determine the lowest rate for your Toyota Matrix.

Discounts can save BIG

Companies that sell car insurance don’t always advertise all their discounts in an easy-to-find place, so we break down both well-publicized and the harder-to-find auto insurance savings. If they aren’t giving you every credit you qualify for, you are paying more than you should be.

• Passive Restraints and Air Bags – Vehicles equipped with air bags can receive discounts of 20% or more.
• Safe Driver Discount – Insureds without accidents can pay as much as 50% less for Matrix coverage than less cautious drivers.
• Distant Student – Youth drivers who are attending college and do not have access to a covered vehicle can be insured at a reduced rate.
• Own a Home – Simply owning a home can help you save on auto insurance due to the fact that maintaining a home shows financial diligence.
• Defensive Driving Course – Taking part in a course in driver safety could save 5% or more depending on where you live.
• Anti-theft System – Anti-theft and alarm systems can help prevent theft and earn discounts up to 10%.

Consumers should know that most discounts do not apply to your bottom line cost. Most only reduce individual premiums such as physical damage coverage or medical payments. So even though it sounds like adding up those discounts means a free policy, auto insurance companies aren’t that generous.

Toyota Matrix insurance rates can be determined by these details

It’s important that you understand some of the elements that help determine auto insurance rates. Knowing what determines base rates allows you to make educated decisions that may reward you with big savings.

The following are some of the factors companies use to determine rates.

• Performance influences rates – The performance of the car you are buying insurance for makes a huge difference in the rate you pay. The cheapest insurance rates are usually for lower performance four cylinder passenger cars, but the final cost of insurance is determined by many other factors. Due to the fact that the Toyota Matrix is a compact wagon, rates will be the same to a little lower as compared to the average rate.
• Big city or small town – Living in a small town is a positive aspect when buying auto insurance. Lower population means a lower chance of having an accident and also fewer theft and vandalism claims. Urban drivers tend to have more traffic problems and longer commutes to work. Longer commute distances means higher likelihood of an accident.
• Don’t buy coverages you don’t need – There are a ton of add-on coverages you can purchase if you aren’t careful. Insurance for personal injury protection, better glass coverage and term life insurance may be costing you every month. They may seem like a good idea initially, but if they’re wasting money eliminate the coverages to reduce your premium.
• Men fork out a little more – Statistics have proven that women are safer drivers than men. However, this does not mean women are better drivers. Men and women have accidents at a similar rate, but the men have costlier accidents. Men also statistically get more serious tickets such as DWI and reckless driving. Teenage male drivers are several times more likely to be in an accident and therefore are the most expensive to insure.

Buying car insurance locally

Some consumers just want to buy from a local agent and that is OK! Educated insurance agents can answer important questions and help submit paperwork. The best thing about price shopping on the web is the fact that you can find lower rates but also keep your business local.

By using this simple form, your insurance coverage information is transmitted to local insurance agents who will give you bids for your business. There is no reason to leave your house because quoted prices will be sent to your email. It doesn’t get any easier!

Picking a company shouldn’t rely on just a low price. Any agent should be forthright in answering these questions:

• Are you getting all the discounts the company offers?
• Do they specialize in personal lines coverage?
• Is working in the agency their full-time job?
• Is their price quote a firm figure or are their hidden costs?
• Which members of your family are coverage by the policy?
• Does the agency provide any after hours assistance?
• Which company do they place the most coverage with?
• If you have an accident, are you able to get your vehicle repaired at the shop of your choice?

Insurance agent types

When searching for local agents, there are a couple of types of agencies to choose from. Agents are classified as either independent (non-captive) or captive. Either one can insure your vehicles, but it’s important to know the difference between them since it can impact buying decisions.

Agency Captives

Captive agencies can only write with one company like AAA, Allstate, State Farm, Farmers Insurance or Liberty Mutual. These agents are unable to give you multiple price quotes so always compare other rates. Captive agents are trained well on their company’s products and that can be a competitive advantage.

Independent Insurance Agents

Independent agencies are not required to write business for one company but instead can place your coverage with many different companies and potentially find a lower price. To transfer your coverage to a different company, they simply move the coverage in-house and you don’t have to find a new agent.

When comparing rates, we recommend you get quotes from at least one independent agent to ensure the widest selection of prices.

For a full directory of agents, click here.

Once you have acceptable answers to any questions you have and a low price estimate, it’s possible that you found an insurance agency that can properly insure your vehicles.

Save $405 a year. For real?

Consumers can’t ignore all the ads that promise big savings from companies such as State Farm, Allstate and GEICO. All the companies make the same claim of big savings after switching your policy.

But how can every company make almost identical claims?

All the different companies have a preferred profile for the type of customer they prefer to insure. For instance, a desirable insured could possibly be over the age of 40, owns a home, and drives less than 7,500 miles a year. A driver who meets those qualifications will get very good rates and is almost guaranteed to pay quite a bit less when switching companies.

Potential customers who don’t measure up to these standards will have to pay higher prices which usually ends up with business not being written. Company advertisements say “customers who switch” not “everybody who quotes” save money. This is how insurance companies can confidently make those claims. Because of the profiling, drivers must compare as many rates as you can. It’s just too difficult to predict which company will have the lowest rates.

One last thing about your coverage

We’ve covered a lot of information how to shop for Toyota Matrix insurance online. The key thing to remember is the more quotes you get, the higher the chance of saving money. Drivers may discover the best price on auto insurance is with some of the smallest insurance companies. Some small companies can often provide lower rates in certain areas than their larger competitors like Progressive or GEICO.

Cheap Toyota Matrix insurance can be sourced from both online companies and also from your neighborhood agents, so you should be comparing quotes from both in order to have the best price selection to choose from. A few companies may not provide you the ability to get quotes online and these small insurance companies work with independent agents.

When trying to cut insurance costs, make sure you don’t skimp on critical coverages to save a buck or two. In many cases, an insured cut liability limits or collision coverage only to discover later that they should have had better coverage. The proper strategy is to get the best coverage possible at a price you can afford.