We don’t have to point out that fact that insurance companies want to keep you from comparing prices. Consumers who do rate comparisons will, in all likelihood, switch companies because there is a great chance of finding good coverage at a lower price. A recent study showed that consumers who routinely compared rates saved approximately $70 a month compared to drivers who never shopped around.
If saving money on Toyota Matrix insurance is your ultimate goal, then having a good understanding how to get price quotes and compare auto insurance can make it easier to shop your coverage around.
The recommended way to get cheaper Toyota Matrix insurance is to begin comparing prices regularly from different companies who provide car insurance in Toledo.
- Try to learn a little about what is in your policy and the changes you can make to prevent expensive coverage. Many factors that increase rates such as speeding tickets, accidents and poor credit can be remedied by making minor driving habit or lifestyle changes. Continue reading for additional tips to find cheap rates and get bigger discounts.
- Compare prices from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can give quotes from one company like Progressive or State Farm, while independent agents can provide price quotes for a wide range of insurance providers.
- Compare the quotes to your current policy and determine if cheaper Matrix coverage is available in Toledo. If you can save some money and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.
- Provide notification to your current company of your intention to cancel the current policy. Submit the required down payment along with the signed application to the newly selected company. Make sure you place the new certificate verifying coverage above your visor, in the console, or in the glove compartment.
The most important part of this process is to compare identical limits and deductibles on every price quote and to quote with every company you can. Doing this provides the most accurate price comparison and a good representation of prices.
Companies offering Toyota Matrix insurance in Ohio
The providers in the list below are our best choices to provide free rate quotes in Toledo, OH. If you want cheap auto insurance in Toledo, we recommend you visit two to three different companies in order to get a fair rate comparison.
Toyota Matrix insurance rates and statistics
The information displayed next showcases different prices for Toyota Matrix models. Understanding how insurance policy premiums are figured can help customers make decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $124 | $238 | $226 | $14 | $68 | $670 | $56 |
| Matrix S 2WD | $142 | $280 | $226 | $14 | $68 | $730 | $61 |
| Matrix S AWD | $142 | $280 | $226 | $14 | $68 | $730 | $61 |
| Matrix XRS 2WD | $142 | $280 | $226 | $14 | $68 | $730 | $61 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Price information does not factor in specific location information which can modify coverage prices considerably.
The diagram below demonstrates how deductible levels and can increase or decrease Toyota Matrix annual premium costs for each age group. The information is based on a single male driver, full coverage, and no discounts are factored in.
Rate difference between full and liability-only coverage
The example below visualizes the comparison of Toyota Matrix annual premium costs with liability coverage only compared to full coverage. The premium estimates are based on no driving violations, no at-fault accidents, $1,000 deductibles, single status, and no policy discounts are applied.
Should you buy full coverage or liability only?
There is no definitive rule for dropping comp and collision coverage, but there is a general school of thought. If the annual cost of coverage is more than around 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.
For example, let’s pretend your Toyota Matrix claim settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $3,000 after the deductible is paid. If premiums are more than $300 a year for full coverage, then you may want to consider only buying liability coverage.
There are some circumstances where only buying liability is not financially feasible. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage.
These discounts can slash Toyota Matrix insurance rates
Car insurance companies don’t always publicize every discount they offer in an easy-to-find place, so here is a list a few of the more well known as well as the least known discounts that may be available.
- Auto/Life Discount – Not all companies offer life insurance, but some may give you a break if you buy auto and life insurance together.
- Driver’s Ed – Make teen driver coverage more affordable by requiring them to participate in a local driver’s education class if it’s offered in school.
- Paperless Signup – A few insurance companies will provide an incentive for buying your policy over the internet.
- Early Signing – Some larger companies provide a discount for switching to them early. It’s a savings of about 10%.
- Multi-car Discount – Insuring more than one vehicle on one policy can get a discount on all vehicles.
- Toledo Homeowners Discount – Just owning your own home can earn you a little savings due to the fact that maintaining a home is proof that your finances are in order.
- Military Discounts – Being on active deployment in the military could be rewarded with lower insurance rates.
- Driver Safety – Passing a class that teaches safe driver techniques may get you a small discount and easily recoup the cost of the course.
Keep in mind that some credits don’t apply to the entire cost. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. Even though the math looks like all the discounts add up to a free policy, it doesn’t quite work that way.
The diagram below visualizes the comparison of Toyota Matrix car insurance rates with and without discounts being applied to the rates. Data assumes a female driver, no accidents, no driving violations, Ohio state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, multi-car, marriage, claim-free, and multi-policy discounts applied.
To locate insurance companies who offer discounts in Ohio, click here.
Why You Might Pay Increased Rates in Toledo
Lots of things are used in the calculation when quoting car insurance. Some are pretty understandable like a motor vehicle report, but other criteria are less obvious like your vehicle usage and annual miles driven.
Listed below are just a few of the factors that factor into rates.
Is insurance coverage cheaper for females or males? – Statistics have proven that females take fewer risks when driving. This data doesn’t prove that males are worse at driving than females. Women and men get in fender benders in similar numbers, but males have accidents that have higher claims. In addition to higher claims, males also receive more major tickets like DUI and reckless driving.
The illustration below visualizes the comparison of Toyota Matrix insurance prices for male and female drivers. The information is based on no driving violations, no at-fault accidents, comp and collision included, $250 deductibles, single marital status, and no discounts are applied to the premium.
Younger driver insurance premiums – Older insureds are shown to be more cautious, cause fewer claims and accidents, and get fewer tickets. Drivers with little experience are statistically proven to be inattentive when driving and because of this, their insurance rates are much higher.
The next chart uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.
Stay claim-free and lower insurance rates – If you are a frequent claim filer, you can definitely plan on increased rates or even have your policy non-renewed. Car insurance companies in Ohio generally give better rates to drivers who are claim-free. Auto insurance is meant to be used in the event of claims that pose a financial burden.
Vehicle theft costs us all – Owning a car with advanced anti-theft systems can save you some money. Anti-theft features such as OnStar, LoJack tracking, and tamper alarms all help stop car theft and help bring rates down.
What if I want to buy from local Toledo insurance agencies?
Many drivers just prefer to get advice from a local agent and that can be a great decision The best thing about comparing rate quotes online is the fact that drivers can get the lowest rates and also buy local. And providing support for local agents is especially important in Toledo.
To make it easy to find an agent, after completing this quick form, the quote information gets sent to local insurance agents in Toledo who will return price quotes for your business. It’s much easier because you don’t need to drive around because quoted prices will be sent to your email. Get lower rates and an insurance agent to talk to. If you wish to get a comparison quote from a specific company, don’t hesitate to go to their quote page and complete a quote there.
When narrowing the list to find a reliable insurance agent, you need to know there are two types of insurance agents and how they can write your policy. Agencies in Toledo are either independent (non-exclusive) or exclusive.
Independent Insurance Agencies or Brokers
These type of agents are appointed with more than one company and that allows them to write policies with a variety of different insurance companies and potentially find a lower price. If they quote lower rates, an independent agent can move your coverage and you don’t have to do anything. If you are trying to find cheaper rates, you absolutely need to include price quotes from a few independent agents to have the most options to choose from. Most have the option of insuring with small mutual carriers which can be an advantage.
Below is a small list of independent insurance agencies in Toledo that may be able to provide pricing information.
- American Casualty Insurance
6060 Renaissance Pl i – Toledo, OH 43623 – (419) 885-3571 – View Map - Walton Insurance LLC
3307 N Holland Sylvania Rd #6 – Toledo, OH 43615 – (419) 725-2886 – View Map - Nationwide Insurance: Smithers Ins Agency LLC
229 Superior St – Rossford, OH 43460 – (419) 666-5703 – View Map
Exclusive Insurance Agents
Exclusive agencies write business for a single company such as Farmers Insurance or State Farm. These agents are not able to provide prices from multiple companies so always compare other rates. Exclusive agents are well schooled on the products they sell which helps overcome the inability to quote other rates. Many people buy insurance from these agents mostly because of loyalty to the company rather than low price.
The following are exclusive agencies in Toledo that can give you price quotes.
- State Farm: Romie Brown
1843 W Alexis Rd #1 – Toledo, OH 43613 – (419) 480-1212 – View Map - Eric Price – State Farm Insurance Agent
2600 N Reynolds Rd #104b – Toledo, OH 43615 – (419) 536-6030 – View Map - Allstate Insurance: J. Mark Atkins
5330 Heatherdowns Blvd Ste 203 – Toledo, OH 43614 – (419) 867-8887 – View Map
Choosing the best insurance agency should depend on more than just a cheap quote. Before buying a policy in Toledo, get answers to these questions.
- Is there any savings for paying the full premium?
- Is the agency involved in supporting local community causes?
- Does the company allow you to choose your own collision repair facility?
- If independent agents, which companies do they recommend?
- How would your car be valued if totaled?
One last thing to lower rates
Cheap Toyota Matrix insurance in Toledo is definitely available on the web in addition to local insurance agencies, and you need to price shop both in order to have the best chance of saving money. A few companies may not offer rate quotes online and most of the time these small insurance companies only sell through independent agents.
We just covered some good ideas how you can find cheap Toyota Matrix insurance in Toledo. The key thing to remember is the more rate comparisons you have, the higher your chance of finding affordable Toledo auto insurance quotes. You may even be surprised to find that the best premium rates are with a small mutual company.
Drivers switch companies for a variety of reasons including unfair underwriting practices, high prices, poor customer service and even an unsatisfactory settlement offer. Whatever your reason, finding the right insurance provider is not as hard as you think.
Additional insurance information is located on the following sites:
- Should I Buy a New or Used Car? (Allstate)
- Who Has Cheap Auto Insurance for 19 Year Olds in Toledo? (FAQ)
- Who Has Affordable Toledo Auto Insurance for Infrequent Drivers? (FAQ)
- How Much are Toledo Auto Insurance Quotes for a Nissan Altima? (FAQ)
- What Car Insurance is Cheapest for a Honda Civic in Toledo? (FAQ)
- Smart Auto Insurance Tips (Insurance Information Institute)
- Side Impact Crash Tests (iihs.org)
- Young Drivers: The High Risk Years Video (iihs.org)
- Airbag FAQ (iihs.org)