Save on 2005 Toyota Matrix Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: May 12, 2022

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Want the cheapest insurance rates for your Toyota Matrix? Trying to find the cheapest insurance for a new or used Toyota Matrix can be a lot of work, but you can follow these tips to make it easier. There is a right way and a wrong way to buy insurance and you need to know the proper way to price shop coverage for a Toyota and locate the lowest possible price.

Finding the best rates is quite easy. If you have insurance now or are looking for a new policy, you can use these techniques to shop for the lowest rates while maintaining coverages. Drivers just need to understand the most efficient way to buy auto insurance on the web.

Comprehensive Car Insurance Comparison

Shopping for lower car insurance rates can be challenging if you aren’t aware of the most efficient way. You could spend the better part of a day driving to agents in your area, or you can utilize online quoting to get the quickest rates.

Many insurance companies participate in a marketplace that allows shoppers to submit their information once, and each company returns a competitive quote based on that information. This eliminates the need for form submissions for every car insurance company.

To use this form to compare 2005 Toyota Matrix insurance rates click to open in new window.

One minor caviat to comparing rates this way is you cannot specify which carriers to get pricing from. If you would rather choose from a list of companies to compare rates, we have a page of the cheapest car insurance companies in your area. Click here to view list.

Whichever way you use, make darn sure you compare the exact same coverage limits for every quote you compare. If you have different liability limits it will be next to impossible to make an equal comparison.

Verify you’re getting all your discounts

Auto insurance companies don’t necessarily list all their discounts in a way that’s easy to find, so the following is a list of some of the more common as well as the least known ways to save on car insurance. If you aren’t receiving every discount you deserve, you are throwing money away.

  • Defensive Driver – Successfully completing a defensive driving course could save 5% or more and easily recoup the cost of the course.
  • Safe Drivers – Drivers who don’t get into accidents can get discounts for up to 45% lower rates for Matrix insurance than drivers with accidents.
  • Seat Belt Usage – Buckling up and requiring all passengers to use their safety belts can save 10% or more off the personal injury premium cost.
  • Low Mileage Discounts – Driving fewer miles can qualify you for better rates on cars that stay parked.
  • Multiple Policy Discount – When you have multiple policies with one insurance company you may earn up to 20% off your total premium.
  • Student Driver Training – Have your child enroll in driver’s education in school.
  • Good Students Pay Less – A discount for being a good student can be rewarded with saving of up to 25%. Earning this discount can benefit you until age 25.
  • Pay Now and Pay Less – If you pay your entire premium ahead of time instead of paying each month you can actually save on your bill.
  • Paperwork-free – A handful of insurance companies will give a small break just for signing your application digitally online.
  • New Car Discount – Buying coverage on a new vehicle is cheaper since new cars are generally safer.

A little note about advertised discounts, most of the big mark downs will not be given to all coverage premiums. Some only apply to specific coverage prices like liability, collision or medical payments. Just because it seems like you can get free auto insurance, you’re out of luck.

Car insurance companies who might offer these benefits may include but are not limited to:

It’s a good idea to ask each company how you can save money. Discounts might not apply in every state.

When should I talk to an agent?

When it comes to buying adequate coverage for your personal vehicles, there really is not a perfect coverage plan. Coverage needs to be tailored to your specific needs.

For example, these questions could help you determine whether or not you might need professional guidance.

  • What if I total my 2005 Toyota Matrix and owe more than it’s worth?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • When can I cancel my policy?
  • Am I covered when using my vehicle for business?
  • What is the rate difference between pleasure use and commuting?
  • Am I covered when driving a rental car?
  • Does my insurance cover a custom paint job?
  • Am I getting all the discounts available?

If you’re not sure about those questions but you know they apply to you then you might want to talk to an insurance agent. To find an agent in your area, complete this form. It is quick, free and can provide invaluable advice.

Specific coverage details

Having a good grasp of auto insurance can help you determine which coverages you need for your vehicles. Policy terminology can be ambiguous and coverage can change by endorsement.

Comprehensive or Other Than Collision

This pays for damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things such as hitting a deer, a tree branch falling on your vehicle, damage from getting keyed, rock chips in glass and a broken windshield. The maximum amount a auto insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.

Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked.

Collision insurance

This will pay to fix damage to your Matrix caused by collision with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision can pay for claims like sustaining damage from a pot hole, crashing into a building and driving through your garage door. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. It’s also possible to increase the deductible to get cheaper collision coverage.

Coverage for liability

Liability insurance provides protection from damages or injuries you inflict on a person or their property in an accident. It protects YOU against claims from other people, and doesn’t cover damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability coverage pays for things such as attorney fees, pain and suffering, repair costs for stationary objects, loss of income and bail bonds. How much liability coverage do you need? That is up to you, but consider buying as high a limit as you can afford.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage pay for bills for things like prosthetic devices, rehabilitation expenses and funeral costs. They can be used to fill the gap from your health insurance plan or if you do not have health coverage. Medical payments and PIP cover you and your occupants and also covers being hit by a car walking across the street. Personal Injury Protection is only offered in select states and may carry a deductible

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