Compare Toyota Matrix Insurance Quotes in Jacksonville

Really, the only way to quote cheaper Toyota Matrix insurance is to compare quotes annually from companies in Jacksonville. You can shop around by following these guidelines.

  1. It will benefit you to learn about how companies price auto insurance and the measures you can take to keep rates in check. Many rating criteria that are responsible for high rates like traffic tickets, fender benders, and a low credit rating can be controlled by making minor driving habit or lifestyle changes.
  2. Compare prices from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only provide price estimates from a single company like Progressive or Allstate, while independent agents can quote prices for many different companies. Start a quote
  3. Compare the new rates to your current policy to determine if switching companies saves money. If you find better rates, make sure there is no coverage gap between policies.

One key aspect of rate comparisons is to make sure you’re comparing identical deductibles and limits on each price quote and and to get price quotes from every company you can. This guarantees a fair rate comparison and the best price selection.

Discount Toyota Matrix insuranceSmart shoppers know that car insurance companies don’t want their customers to go rate shopping. Drivers who compare price quotes are likely to move their business because there is a great chance of finding a lower-cost company. A recent survey discovered that people who regularly compared rates saved as much as $865 annually as compared to drivers who don’t make a habit of comparing rates.

If finding the lowest rates on car insurance in Jacksonville is your ultimate objective, then knowing how to shop and compare auto insurance can make it easier to find better rates.

Shopping around for the lowest cost insurance coverage in Jacksonville is not that difficult. Nearly anyone who carries insurance should be able to cut their insurance bill. Although Florida vehicle owners can benefit by having an understanding of how the larger insurance companies calculate your policy premium because rates are impacted by many factors.

Just remember that comparing a large number of companies helps locate the best offered rates.

The following companies can provide comparison quotes in Florida. If several companies are displayed, it’s a good idea that you visit two to three different companies to find the lowest auto insurance rates.

Toyota Matrix insurance statistics and information

The rate information below highlights a range of coverage prices for Toyota Matrix models. Knowing how insurance rates are calculated can help you make informed decisions when comparing rates.

Toyota Matrix Insurance Rates in Jacksonville, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $270 $614 $542 $32 $162 $1,620 $135
Matrix S 2WD $310 $724 $542 $32 $162 $1,770 $148
Matrix S AWD $310 $724 $542 $32 $162 $1,770 $148
Matrix XRS 2WD $310 $724 $542 $32 $162 $1,770 $148
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Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Table data does not factor in specific location which can alter coverage prices noticeably.

Policy deductible comparison

When buying car insurance, a common question is how low should you set your deductibles. The rates below summarize the cost difference when you buy lower versus higher policy deductibles. The first data set uses a $100 physical damage deductible and the second price chart uses a $500 deductible.

Toyota Matrix insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $312 $648 $418 $24 $124 $1,551 $129
Matrix S 2WD $358 $764 $418 $24 $124 $1,713 $143
Matrix S AWD $358 $764 $418 $24 $124 $1,713 $143
Matrix XRS 2WD $358 $764 $418 $24 $124 $1,713 $143
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Toyota Matrix insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $228 $438 $418 $24 $124 $1,232 $103
Matrix S 2WD $262 $516 $418 $24 $124 $1,344 $112
Matrix S AWD $262 $516 $418 $24 $124 $1,344 $112
Matrix XRS 2WD $262 $516 $418 $24 $124 $1,344 $112
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Table data does not factor in your specific Jacksonville location which can lower or raise insurance rates significantly.

Using the data above, we can ascertain that using a $100 deductible will cost you roughly $30 more each month or $360 each year across all Toyota Matrix models than opting for the higher $500 deductible. Because you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally go at a minimum 13 months between claim filings, you would probably be better off if you opt for a higher deductible.

The diagram below illustrates how your deductible choice and can increase or decrease Toyota Matrix insurance rates for different age groups. The information is based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.

How much more does full coverage cost?

The information below visualizes the comparison of Toyota Matrix annual premium costs with and without full coverage. The information is based on a clean driving record, no at-fault accidents, $100 deductibles, single marital status, and no discounts are applied to the premium.

When to drop comprehensive and collision coverage

There is no set rule of when to drop comp and collision coverage, but there is a guideline you can consider. If the yearly cost of full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.

For example, let’s say your Toyota Matrix book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company will settle for is $8,000 after paying your policy deductible. If premium cost is more than $800 annually for full coverage, then it might be time to buy liability only.

There are some cases where dropping physical damage coverage is not financially feasible. If you still owe money on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not buy liability only.

How do Car Insurance Companies Determine Toyota Matrix Insurance Prices?

Lots of factors are taken into consideration when pricing auto insurance. Some factors are common sense such as your driving record, but others are less obvious such as your marital status or your financial responsibility. A large part of saving on car insurance is knowing some of the factors that play a part in calculating your policy premiums. When you know what positively or negatively determines premiums, this empowers consumers to make smart changes that can earn you lower car insurance prices.

Shown below are just a few of the factors that factor into rates.

Save money by raising comp and collision deductibles – Insurance for physical damage to your car, also known as collision and other-than-collision, protects your Toyota from damage. Some coverage claims could be a broken side mirror, hail damage, and damage caused by flying debris. Deductibles for physical damage define how much the insured will be required to pay if the claim is covered. The larger the amount the insured is willing to pay, the less your car insurance will be.

Gender and car insurance rates – Statistics have proven women are more cautious behind the wheel. This data doesn’t prove that men are WORSE drivers than women. Both sexes are responsible for auto accidents at about the same rate, but men have accidents that have higher claims. They also get more serious tickets like DWI (DUI) or reckless driving. Male teenagers are several times more likely to be in an accident and therefore are the most expensive to insure.

The chart below shows the comparison of Toyota Matrix premium costs for male and female drivers. The prices are based on no violations or claims, comp and collision included, $250 deductibles, drivers are not married, and no discounts are applied to the premium.

Better credit means lower costs – Credit rating factor in calculating your premium rate. If your credit is not that good, you could be paying less to insure your Toyota Matrix by repairing your credit. Drivers who have excellent credit scores tend to be better risks to insure than those with poor credit scores.

Certain occupations pay higher rates – Do you have a high-stress occupation? Occupational choices like real estate brokers, business owners, and medical professionals have higher premiums than the average policyholder attributed to high stress levels and long work hours. Conversely, occupations like actors, engineers and the unemployed get better rates.

City traffic equals higher premiums – Choosing to live in a small town has definite advantages when it comes to car insurance. Less people living in that area means less chance of accidents and lower theft and vandalism rates. Drivers in populated Florida areas have to deal with more traffic problems and more time behind the wheel. More time commuting means higher likelihood of an accident.

Performance affects costs – The performance level of the vehicle you need insurance for makes a significant difference in your auto insurance rates. The best insurance prices are for lower cost passenger vehicles, but the final cost of insurance is determined by many other factors.

The following chart uses these assumptions: single male driver age 30, full coverage with $1000 deductibles, and no discounts or violations. It shows Toyota Matrix rates compared to other makes and models that have different performances.

Car insurance is not optional but you don’t have to overpay

Even though it’s not necessarily cheap to insure a Toyota in Jacksonville, insurance serves an important purpose.

First, almost all states have mandatory liability insurance requirements which means the state requires a minimum amount of liability insurance coverage if you don’t want to risk a ticket. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if your vehicle has a lienholder, more than likely the lender will require you to buy insurance to guarantee their interest in the vehicle. If you default on your policy, the lender will be forced to insure your Toyota at a significantly higher premium and require you to fork over for it.

Third, car insurance protects your car and your assets. It will also pay for medical transport and hospital expenses incurred in an accident. One of the most valuable coverages, liability insurance, will also pay to defend you in the event you are sued. If damage is caused by hail or an accident, your car insurance policy will pay all costs to repair after the deductible has been paid.

The benefits of buying enough insurance greatly outweigh the cost, particularly for liability claims. An average driver in America overpays more than $865 each year so compare rate quotes at least once a year to ensure rates are inline.