It’s a known fact that auto insurance companies don’t want you to look at other companies. Insureds who get price quotes annually are highly likely to switch to a new company because there is a good probability of finding a lower-priced company. A recent survey discovered that consumers who regularly compared price quotes saved over $70 a month compared to drivers who never compared prices.
If finding the best rates on Toyota Matrix insurance is your objective, understanding the best way to quote and compare insurance coverage can make it simple to find affordable coverage.
Really, the only way to find discount Toyota Matrix insurance in Fort Wayne is to compare quotes once a year from providers who sell auto insurance in Indiana.
- Step 1: Try to understand the different coverages in a policy and the things you can control to prevent expensive coverage. Many rating factors that cause high rates like getting speeding tickets and a negative credit score can be rectified by making minor driving habit or lifestyle changes. This article provides more information to get cheaper rates and find discounts that you may qualify for.
- Step 2: Obtain price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like Progressive or Allstate, while independent agencies can provide prices from multiple companies.
- Step 3: Compare the new rate quotes to the price on your current policy to see if switching to a new carrier will save money. If you find better rates and switch companies, make sure there is no coverage gap between policies.
An important part of this process is that you use similar deductibles and liability limits on every quote request and and to get price estimates from as many different insurance providers as possible. Doing this ensures an accurate price comparison and the best price quote selection.
When shopping for the cheapest Toyota Matrix rate quotes, there are a couple of ways to compare quotes from all the different companies. The recommended way to find the lowest Toyota Matrix rates consists of shopping online.
Comparison shopping rates online is easy and it takes the place of having to spend time driving to all the different Fort Wayne insurance agencies. The fact that you can get quotes online can eliminate the need for a local agent unless you’re the type of person who wants the trained guidance only provided by licensed Fort Wayne agents. It is possible to get prices online and still use a local agent. When quoting auto insurance, remember that comparing more prices will enable you to find the best price.
The companies in the list below have been selected to offer price comparisons in Fort Wayne, IN. If you wish to find cheap auto insurance in IN, we suggest you visit several of them to get the cheapest price.
Rate information and statistics
The price information displayed next covers estimates of policy rates for Toyota Matrix models. Learning more about how car insurance prices are calculated is important to be able to make decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $210 | $450 | $380 | $22 | $114 | $1,176 | $98 |
| Matrix S 2WD | $240 | $530 | $380 | $22 | $114 | $1,286 | $107 |
| Matrix S AWD | $240 | $530 | $380 | $22 | $114 | $1,286 | $107 |
| Matrix XRS 2WD | $240 | $530 | $380 | $22 | $114 | $1,286 | $107 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Information does not factor in garaging location in Fort Wayne which can modify auto insurance rates greatly.
Deductible analysis
One of the most common auto insurance questions is how low should you set your deductibles. The rates shown below can help you understand how much more you’ll pay when you select higher and lower policy deductibles. The first price estimate table uses a $250 deductible for comprehensive and collision coverage and the second price grid uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $188 | $366 | $280 | $16 | $84 | $959 | $80 |
| Matrix S 2WD | $216 | $430 | $280 | $16 | $84 | $1,051 | $88 |
| Matrix S AWD | $216 | $430 | $280 | $16 | $84 | $1,051 | $88 |
| Matrix XRS 2WD | $216 | $430 | $280 | $16 | $84 | $1,051 | $88 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $116 | $230 | $280 | $16 | $84 | $726 | $61 |
| Matrix S 2WD | $134 | $270 | $280 | $16 | $84 | $784 | $65 |
| Matrix S AWD | $134 | $270 | $280 | $16 | $84 | $784 | $65 |
| Matrix XRS 2WD | $134 | $270 | $280 | $16 | $84 | $784 | $65 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Indiana minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Table data does not factor in vehicle location which can affect prices substantially.
Using the premium rates above, we can conclude that using a $250 deductible will cost in the ballpark of $22 more each month or $264 for a full year than selecting the higher $1,000 deductible. Since you would have to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you normally average at least 34 months between claims, you would most likely save money by selecting a higher deductible.
Violations and accidents raise rates
The diagram below shows how speeding tickets and at-fault collisions can influence Toyota Matrix insurance premiums for each age group. The costs are based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are taken into consideration.
Gender differences in auto insurance premiums
The information below compares Toyota Matrix car insurance rates for male and female drivers. The prices are based on no claims or driving citations, full physical damage coverage, $250 deductibles, marital status is single, and no policy discounts are applied.
Full coverage versus liability only rates
The information below compares Toyota Matrix auto insurance costs with full coverage and liability only. The information is based on no accidents, no driving violations, $1,000 deductibles, single marital status, and no discounts are factored in.
Guidelines for eliminating full coverage
There is no exact rule for dropping full coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of any settlement you would receive from your insurance company, then you might consider buying liability only.
For example, let’s pretend your Toyota Matrix replacement value is $4,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $3,000 after paying the physical damage deductible. If you are currently paying more than $300 a year to have full coverage, the it may be a good time to stop paying for full coverage.
There are some circumstances where dropping physical damage coverage is not advised. If you haven’t paid off your loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should not opt for liability only.
Car insurance is not optional in Indiana
Despite the potentially high cost of Toyota Matrix insurance, insuring your vehicle may not be optional for several reasons.
- Just about all states have compulsory liability insurance requirements which means state laws require a specific level of liability protection if you want to drive legally. In Indiana these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your Toyota, almost every bank will stipulate that you have physical damage coverage to guarantee payment of the loan. If you do not keep the policy in force, the lender may have to buy a policy to insure your Toyota for a lot more money and force you to pay much more than you were paying before.
- Car insurance protects not only your Toyota Matrix but also your assets. It will also reimburse you for medical bills for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If you have damage to your Toyota as the result of the weather or an accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of buying car insurance more than offset the price you pay, especially when you need to use it. Despite what companies tell you, the average driver is currently overpaying as much as $810 a year so it’s important to compare rates at every renewal to be sure current rates are still competitive.
Will just any policy work for me?
When it comes to buying a policy, there really is no “best” method to buy coverage. Everyone’s situation is unique so this has to be addressed.
For example, these questions could help you determine if your insurance needs could use an agent’s help.
- Does having multiple vehicles earn me a discount?
- How much liability do I need to cover my assets?
- Is water damage covered by my policy?
- How can I get the company to pay a claim?
- Where can I get insurance after a DUI in Indiana?
- Does my insurance cover a custom paint job?
If you can’t answer these questions but you think they might apply to your situation, you may need to chat with a licensed agent. If you want to speak to an agent in your area, take a second and complete this form or you can also visit this page to select a carrier
Information about specific coverages
Having a good grasp of your car insurance policy can help you determine appropriate coverage and proper limits and deductibles. Car insurance terms can be impossible to understand and nobody wants to actually read their policy. Listed below are the usual coverages available from car insurance companies.
Coverage for liability
Liability insurance provides protection from injuries or damage you cause to people or other property that is your fault. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 25/50/10 that means you have a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a total limit of $10,000 for damage to vehicles and property.
Liability insurance covers claims like court costs, repair costs for stationary objects, legal defense fees and emergency aid. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford. Indiana requires minimum liability limits of 25/50/10 but you should think about purchasing more coverage.
The chart below demonstrates why buying low liability limits may not be high enough to adequately cover claims.
Comprehensive car insurance
Comprehensive insurance coverage pays for damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as hitting a bird, a tree branch falling on your vehicle and rock chips in glass. The most you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Collision coverage
Collision insurance pays for damage to your Matrix resulting from a collision with another car or object. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage pays for things like crashing into a building, hitting a mailbox and backing into a parked car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to increase the deductible on your Matrix in order to get cheaper collision rates.
Coverage for uninsured or underinsured drivers
This protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since a lot of drivers carry very low liability coverage limits (which is 25/50/10), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.
Coverage for medical expenses
Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses such as X-ray expenses, ambulance fees, nursing services, rehabilitation expenses and surgery. The coverages can be used to fill the gap from your health insurance program or if you lack health insurance entirely. Coverage applies to all vehicle occupants and also covers getting struck while a pedestrian. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage
Affordable car insurance rates are possible
We just covered a lot of information how to reduce Toyota Matrix insurance rates online in Fort Wayne. The key concept to understand is the more times you quote, the better your chances of lowering your auto insurance rates. You may even be surprised to find that the biggest savings come from the least-expected company. Regional companies may have significantly lower auto insurance rates on certain market segments compared to the large companies like State Farm and Allstate.
As you restructure your insurance plan, make sure you don’t reduce needed coverages to save money. In too many instances, an insured dropped liability coverage limits only to discover later that saving that couple of dollars actually costed them tens of thousands. Your focus should be to get the best coverage possible at the best cost but still have enough coverage for asset protection.
Additional car insurance information can be read below:
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)
- How Much are Fort Wayne Auto Insurance Rates for a Company Car? (FAQ)
- How Much are Fort Wayne Auto Insurance Rates for 4×4 Vehicles? (FAQ)
- What Insurance is Cheapest for a Chevrolet Equinox in Fort Wayne? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Safe Drivers in Fort Wayne? (FAQ)
- What Car Insurance is Cheapest for a Hyundai Elantra in Fort Wayne? (FAQ)
- Who Has Affordable Auto Insurance for Uninsured Drivers in Fort Wayne? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for High Risk Drivers in Fort Wayne? (FAQ)
- Who Has the Cheapest Fort Wayne Car Insurance for a Honda Civic? (FAQ)
- Rental Car Insurance Tips (Insurance Information Institute)
- What is a Telematics Device? (Allstate)
- Child Safety FAQ (iihs.org)