How Much Does 2006 Toyota Matrix Insurance Cost?

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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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Searching for lower insurance rates for your Toyota Matrix? Are you intimidated by the crazy number of insurance choices? Many other consumers are too. Drivers have so many choices that it can quickly become a ton of work to find lower rates.

The quickest method we recommend to get rate comparisons is to realize almost all companies pay for the opportunity to provide you with free rate quotes. All you need to do is provide details including whether you are married, if the vehicle is leased, an estimate of your credit level, and the type of vehicles you drive. That rating information is instantly sent to multiple companies and they respond with quotes instantly.

To get price quotes for your Toyota Matrix , click here and complete the quick form.

Pay less for 2006 Toyota Matrix insurance

Insuring your vehicles can cost a lot, but you may find discounts to help offset the cost. Certain discounts will be triggered automatically at the time of purchase, but lesser-known reductions have to be asked for prior to receiving the credit.

  • Save with a New Car – Adding a new car to your policy is cheaper due to better safety requirements for new cars.
  • Air Bag Discount – Cars that have air bags and/or automatic seat belt systems can qualify for discounts of up to 25% or more.
  • E-sign – Some insurance companies will discount your bill up to fifty bucks for buying your policy online.
  • Lower Rates for Military – Having a deployed family member could mean lower rates.
  • Anti-lock Brake System – Anti-lock brake equipped vehicles are safer to drive and qualify for as much as a 10% discount.
  • Federal Government Employee – Active or retired federal employment could cut as much as 10% off for Matrix insurance with certain companies.
  • Fewer Miles Equal More Savings – Driving fewer miles could be rewarded with a substantially lower rate.
  • Homeowners Pay Less – Owning a home can help you save on insurance because maintaining a house is proof that your finances are in order.

Drivers should understand that most credits do not apply to the entire cost. Some only reduce the cost of specific coverages such as medical payments or collision. So even though it sounds like it’s possible to get free car insurance, companies don’t profit that way. Any amount of discount will reduce your premiums.

To see a list of insurers who offer insurance discounts, click here to view.

Toyota Matrix rate determination is complex

Consumers need to have an understanding of the rating factors that play a part in calculating your insurance rates. Having a good understanding of what controls the rates you pay allows you to make educated decisions that can help you get big savings.

  • Extra add-on coverages are wasting money – There are a ton of additional coverages that can waste your money when buying insurance. Insurance for vanishing deductibles, accident forgiveness and motor club memberships may be wasting your money. These coverages may sound good initially, but if you don’t need them eliminate the coverages to reduce your premium.
  • More than one policy can earn a discount – Most insurers will award you with lower prices to insureds who have multiple policies with them such as combining an auto and homeowners policy. This can amount to five, ten or even twenty percent. Even if you’re getting this discount you may still want to comparison shop to make sure you are getting the best deal. You may still be able to find better rates by insuring with multiple companies.
  • Liability coverage is cheap – The liability section of your policy is the coverage that protects you if a jury decides you are liable for causing damage or personal injury in an accident. It provides for a legal defense which can be incredibly expensive. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so buy as much as you can afford.
  • High crash test scores lower rates – Vehicles with good safety scores get lower rates. Safe vehicles have better occupant injury protection and fewer injuries translates into savings for insurance companies and lower rates for you. If your Toyota Matrix has ratings of a minimum four stars on Safercar.gov you may qualify for a discount.
  • Where do you drive? – Driving more miles in a year’s time the more you will pay for insurance. Almost all companies charge to insure your cars based on how the vehicle is used. Vehicles left parked in the garage can get a lower rate than vehicles that are driven to work every day. An improperly rated Matrix may be wasting your money. Make sure your insurance coverage is rated on the proper vehicle usage, because it can save money.
  • Do you have a high stress job? – Did you know your job can affect your rates? Jobs such as real estate brokers, architects and dentists tend to have the highest average rates attributed to stressful work requirements and lengthy work days. Other jobs such as scientists, historians and homemakers receive lower rates for Matrix insurance.
  • High deductibles save money – Coverage for physical damage, termed comprehensive and collision coverage on your policy, protects your Toyota from damage. Examples of covered claims are colliding with a building, vandalism, and rolling your vehicle. Deductibles for physical damage are the amount of money you are willing to pay out-of-pocket if you file a covered claim. The more money you’re willing to pay, the less your company will charge you for insurance for Matrix insurance.
  • Your location is important – Residing in less populated areas has it’s advantages when buying insurance. City drivers have to deal with congested traffic and longer commutes to work. Less people living in that area means a lower chance of having an accident as well as less vandalism and auto theft.

Tailor your coverage to you

When it comes to buying the best insurance coverage for your vehicles, there is no perfect coverage plan. Everyone’s needs are different.

These are some specific questions might point out whether your personal situation could use an agent’s help.

  • How high should my uninsured/underinsured coverage be in my state?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Do I have coverage when pulling a U-Haul trailer?
  • Am I covered if I hit a deer?
  • When should I remove comp and collision on my 2006 Toyota Matrix?
  • What is no-fault insurance?
  • Does car insurance cover theft of personal property?

If you can’t answer these questions, then you may want to think about talking to a licensed agent. If you don’t have a local agent, fill out this quick form.

Do drivers who switch really save $388 a year?

Insurance coverage companies such as Progressive, Allstate and GEICO continually stream ads on television and other media. They all seem to make an identical promise that you can save after switching to them. How do they all make the same claim? It’s all in the numbers.

Different companies have a certain “appetite” for the type of driver they prefer to insure. For instance, a preferred risk might be between the ages of 40 and 55, is a homeowner, and drives newer vehicles. A customer getting a price quote who fits that profile receives the best rates and is almost guaranteed to save when switching.

Drivers who are not a match for the requirements will be charged higher rates which leads to business going elsewhere. The ads state “drivers who switch” not “people who quote” save money. That’s the way companies can claim big savings.

That is why it’s extremely important to get as many comparisons as possible. It is impossible to predict which company will provide you with the cheapest Toyota Matrix insurance rates.

Specific coverage details

Having a good grasp of insurance aids in choosing the best coverages for your vehicles. The coverage terms in a policy can be confusing and nobody wants to actually read their policy.

Collision coverages – Collision coverage pays for damage to your Matrix resulting from a collision with another car or object. You first must pay a deductible then your collision coverage will kick in.

Collision insurance covers things such as driving through your garage door, hitting a mailbox and colliding with a tree. This coverage can be expensive, so consider removing coverage from vehicles that are older. You can also choose a higher deductible to save money on collision insurance.

Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for pain medications, ambulance fees and doctor visits. The coverages can be used in conjunction with a health insurance plan or if you are not covered by health insurance. Coverage applies to all vehicle occupants and also covers being hit by a car walking across the street. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Uninsured and underinsured coverage – Your UM/UIM coverage protects you and your vehicle’s occupants from other motorists when they 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 is important protection for you and your family. Most of the time the UM/UIM limits are identical to your policy’s liability coverage.

Comprehensive coverages – This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers claims like damage from flooding, falling objects and a tree branch falling on your vehicle. The highest amount your insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Auto liability – This coverage will cover damage that occurs to a person or their property by causing an accident. It protects you from legal claims by others. Liability doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 25/50/25 which means a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property. Alternatively, you may have one number which is a combined single limit which provides one coverage limit without having the split limit caps.

Liability coverage pays for things like medical services, pain and suffering, legal defense fees, loss of income and emergency aid. The amount of liability coverage you purchase is up to you, but you should buy as large an amount as possible.

Smart shoppers get results

Drivers switch companies for a variety of reasons including not issuing a premium refund, an unsatisfactory settlement offer, policy cancellation or even lack of trust in their agent. It doesn’t matter why you want to switch choosing a new insurance company can be pretty painless.

Lower-priced 2006 Toyota Matrix insurance can be bought both online in addition to many insurance agents, and you need to comparison shop both to have the best selection. Some insurance providers do not provide online price quotes and these small insurance companies work with independent agents.

In this article, we covered a lot of ways to save on insurance. The key thing to remember is the more price quotes you have, the better likelihood of reducing your rate. You may even discover the best prices are with a smaller regional carrier.

Even more information is available by following these links:

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