Lower Your 2007 Toyota Matrix Car Insurance Quotes

Expensive insurance coverage can overdraw your personal savings, especially in this economy. Comparing price quotes is free and is an excellent way to make sure you’re not throwing money away.

Popular companies such as Allstate, Liberty Mutual and State Farm all claim big savings, bombarding you with ad campaigns and consumers find it hard to avoid their marketing magic and do the work needed to find the best deal.

Save on 2007 Toyota Matrix insurance

Companies don’t always advertise every available discount 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 discounts you could be receiving.

  • Safe Driver Discount – Insureds without accidents can get discounts for up to 45% lower rates for Matrix insurance than less cautious drivers.
  • Seat Belt Usage – Buckling up and requiring all passengers to wear their seat belts could save 15% on the medical payments or PIP coverage costs.
  • Pay Upfront and Save – By paying your policy upfront instead of monthly or quarterly installments you can actually save on your bill.
  • Auto/Life Discount – Some companies give lower rates if you buy life insurance.
  • Braking Control Discount – Vehicles equipped with ABS or steering control can reduce accidents and therefore earn up to a 10% discount.

It’s important to understand that most discount credits are not given to the entire policy premium. Most only cut the price of certain insurance coverages like comp or med pay. So even though it sounds like you would end up receiving a 100% discount, it doesn’t quite work that way.

For a list of providers offering insurance discounts, follow this link.

How to Compare Insurance Coverage Costs

There are a variety of methods to compare 2007 Toyota Matrix insurance coverage prices but some are easier and takes less work. You could spend the better part of a day talking to local insurance agents in your area, or you could use the internet to get rate comparisons in just a few minutes.

Most of the best insurance companies belong to a marketplace that enables customers to enter their policy data once, and every company then gives them pricing based on that data. This eliminates the need for form submissions to each individual insurance coverage company.

To compare 2007 Toyota Matrix rates now click here to open in new window.

The one disadvantage to doing it this way is buyers cannot specifically choose the providers you want to price. So if you prefer to pick specific providers to compare rates, we put together a list of the cheapest insurance coverage companies in your area. Click here for list of insurance companies.

Which method you use is up to you, but compare the exact same coverage limits for each comparison quote. If you are comparing higher or lower deductibles you can’t possibly decipher which rate is best. Just a small difference in coverages can mean a large discrepancy in price. Just keep in mind that comparing a large number of companies will improve the odds of getting a lower rate.

Toyota Matrix premiums are determined by many factors

An important part of buying insurance is that you know some of the elements that go into determining car insurance rates. Understanding what impacts premium levels enables informed choices that may reward you with better car insurance rates.

Listed below are some of the factors car insurance companies consider when setting rates.

  • Rates may be lower depending on your job – Jobs such as lawyers, social workers and financial analysts are shown to have higher average rates due to job stress and lengthy work days. Conversely, occupations such as scientists, engineers and the unemployed pay the least for Matrix insurance.
  • Careful drivers pay lower rates – Your driving citation history impacts your car insurance rates tremendously. Just one ticket can increase rates forty percent or more. Good drivers have lower premiums than bad drivers. Drivers who have serious citations such as DWI, reckless driving or hit and run convictions may need to submit a SR-22 or proof of financial responsibility with their state DMV in order to continue driving.
  • Where you live can impact rates – Choosing to live in less populated areas is a positive aspect when talking about car insurance. Less people living in that area translates into fewer accidents as well as less vandalism and auto theft. Drivers in populated areas have more traffic problems and longer commute times. More time commuting translates into higher accident risk.
  • Battle of the sexes – Statistics have proven women are more cautious behind the wheel. However, don’t assume that men are worse drivers. Women and men cause accidents at a similar rate, but the male of the species cause more damage and cost insurance companies more money. Men also tend to have more aggressive citations like DUI and reckless driving.
  • Younger drivers pay higher rates – Mature drivers are viewed as being more responsible, statistically cause fewer accidents and tend to be better behind the wheel. Young drivers are known to be less responsible in a vehicle therefore car insurance rates are much higher.

Tailor your coverage to you

When buying the best insurance coverage coverage, there isn’t really a best way to insure your cars. Each situation is unique so your insurance should reflect that Here are some questions about coverages that can aid in determining if your situation may require specific advice.

  • Is my 2007 Toyota Matrix covered for smoke damage?
  • Is my trailer covered?
  • Is my custom paint covered by insurance?
  • Am I covered when driving on a suspended license?
  • How does medical payments coverage work?
  • What is the ISO rating for a 2007 Toyota Matrix?
  • Am I covered when using my vehicle for business?
  • Am I covered when driving someone else’s vehicle?
  • Do I really need UM/UIM coverage?
  • How high should my uninsured/underinsured coverage be in my state?

If you’re not sure about those questions but one or more may apply to you then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, complete this form or you can go here for a list of companies in your area.

Specific coverage details

Knowing the specifics of a insurance policy helps when choosing the best coverages and proper limits and deductibles. Insurance terms can be confusing and nobody wants to actually read their policy. Listed below are typical coverages found on the average insurance policy.

Coverage for collisions

Collision coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like crashing into a ditch, crashing into a building, hitting a parking meter and scraping a guard rail. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to choose a higher deductible in order to get cheaper collision rates.

Uninsured Motorist or Underinsured Motorist insurance

This protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. Covered losses include injuries sustained by your vehicle’s occupants and damage to your Toyota Matrix.

Since many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important.


This provides protection from damage or injury you incur to people or other property that is your fault. This coverage protects you from legal claims by others. It does not cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 50/100/50 which stand for $50,000 bodily injury coverage, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability insurance covers claims like bail bonds, structural damage, medical services, loss of income and funeral expenses. How much liability should you purchase? That is up to you, but consider buying as much as you can afford.

Comprehensive coverage (or Other than Collision)

Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims like hail damage, theft, hitting a deer, damage from a tornado or hurricane and falling objects. The highest amount a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Insurance for medical payments

Coverage for medical payments and/or PIP reimburse you for bills like nursing services, funeral costs, ambulance fees and rehabilitation expenses. They are used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Buy online or local, you save

We’ve covered many ideas to reduce 2007 Toyota Matrix insurance prices online. The key concept to understand is the more companies you get rates for, the higher your chance of finding lower rates. Consumers may even find the most savings is with a small mutual company. Regional companies may often insure only within specific states and give getter rates as compared to the big name companies such as Progressive or GEICO.

Budget-conscious insurance can be sourced online in addition to many insurance agents, and you should compare price quotes from both to have the best selection. There are still a few companies who do not provide online price quotes and many times these small insurance companies only sell through independent insurance agents.

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