2004 Toyota Matrix Insurance Cost – 8 Ways to Save

Wish you could get a refund on high-priced car insurance? Believe me, there are many consumers feeling the pinch from expensive car insurance.

Companies like State Farm, Progressive and GEICO all claim big savings, bombarding you with advertising and it is difficult to ignore the propoganda and do the work needed to find the best deal.

Auto insurance discounts help cut rates

Insurance can cost an arm and a leg, but there could be available discounts to help bring down the price. Many discounts should be triggered when you complete an application, but a few must be manually applied in order for you to get them.

  • Full Payment Discount – By making one initial payment instead of making monthly payments you could save 5% or more.
  • Discount for Swiching Early – A few insurance companies offer discounts for buying a policy prior to your current policy expiring. The savings is around 10%.
  • Waiver for an Accident – This isn’t a discount exactly, but a handful of insurance companies will turn a blind eye to one accident before they charge you more for coverage so long as you haven’t had any claims prior to being involved in the accident.
  • Discounts for Government Workers – Federal government employees could provide a small rate reduction for Matrix coverage depending on your auto insurance provider.
  • Good Students Pay Less – Maintaining excellent grades can get you a discount of up to 25%. Earning this discount can benefit you up to age 25.
  • Air Bag Discount – Vehicles equipped with air bags can qualify for discounts of 20% or more.
  • Discount for New Cars – Buying a new car instead of a used car is cheaper compared to insuring an older model.
  • Discount for Life Insurance – Insurance carriers who offer life insurance give better prices if you take out some life insurance too.

As a disclaimer on discounts, some credits don’t apply to all coverage premiums. Most only apply to specific coverage prices like collision or personal injury protection. So despite the fact that it appears all the discounts add up to a free policy, auto insurance companies aren’t that generous.

A few popular companies and their possible discounts are shown below.

  • GEICO may offer discounts for multi-vehicle, emergency military deployment, multi-policy, air bags, and membership and employees.
  • Travelers has discounts for multi-car, driver training, home ownership, IntelliDrive, and multi-policy.
  • Nationwide may have discounts that include accident-free, business or organization, easy pay, good student, and defensive driving.
  • Farmers Insurance policyholders can earn discounts including good student, bundle discounts, pay in full, youthful driver, switch companies, distant student, and teen driver.
  • Esurance may include discounts for anti-lock brakes, multi-policy, multi-car, anti-theft, safety device, and online quote.
  • State Farm includes discounts for Steer Clear safe driver discount, multiple policy, driver’s education, passive restraint, good student, and anti-theft.
  • Progressive offers premium reductions for continuous coverage, homeowner, online signing, multi-policy, multi-vehicle, and good student.
  • Mercury Insurance discounts include location of vehicle, anti-theft, low natural disaster claims, annual mileage, and multi-car.

When getting free insurance quotes, it’s a good idea to each company what discounts are available to you. Some of the earlier mentioned discounts may not apply to policies in your area. To see a list of auto insurance companies with the best discounts, click here to view.

The quickest way to compare policy rates is to know almost all companies participate in online systems to give rate comparisons. All consumers are required to do is provide a small amount of information like if the car is leased, if it has an anti-theft system, deductibles desired, and whether you have decent credit. The data is submitted instantly to insurance carriers in your area and you will get price comparisons quickly.

If you would like to start a quote now, click here then complete the form.

Which is the best car insurance?

When it comes to buying adequate coverage, there really is no cookie cutter policy. Everyone’s situation is a little different so your insurance needs to address that. For instance, these questions can aid in determining if your insurance needs would benefit from professional advice.

  • Does coverage extend to my business vehicle?
  • How high should my medical payments coverage be?
  • Am I covered if my car is in a flood?
  • How many claims can I have before being cancelled?
  • When should I drop full coverage on my 2004 Toyota Matrix?
  • Do I need rental car coverage?

If it’s difficult to answer those questions but one or more may apply to you, then you may want to think about talking to a licensed agent. To find an agent in your area, simply complete this short form or you can also visit this page to select a carrier

Car insurance coverage options for a Toyota Matrix

Understanding the coverages of car insurance can be of help when determining the right coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and nobody wants to actually read their policy. Listed below are typical coverages offered by car insurance companies.

Collision coverage – Collision coverage pays to fix your vehicle from damage caused by collision with another car or object. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like colliding with another moving vehicle, crashing into a building and rolling your car. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. You can also increase the deductible to get cheaper collision coverage.

Comprehensive insurance – This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims such as vandalism, a tree branch falling on your vehicle, damage from getting keyed and damage from a tornado or hurricane. The maximum amount a car insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage provides protection from other motorists when they do not carry enough liability coverage. Covered losses include injuries to you and your family and also any damage incurred to your 2004 Toyota Matrix.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses for things like pain medications, dental work, EMT expenses and nursing services. They can be used to cover expenses not covered by your health insurance program or if you do not have health coverage. Coverage applies to both the driver and occupants and also covers getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Auto liability – This can cover damage that occurs to a person or their property that is your fault. This coverage protects you from legal claims by others, and does not provide coverage for damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 25/50/25 that means you have a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability can pay for things like loss of income, medical expenses and medical services. The amount of liability coverage you purchase is up to you, but buy as large an amount as possible.

Shop Smart and Save

Lower-priced 2004 Toyota Matrix insurance is available online and from local insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some auto insurance companies may not offer online rate quotes and these regional carriers work with independent insurance agencies.

As you prepare to switch companies, it’s a bad idea to skimp on critical coverages to save a buck or two. There are a lot of situations where an insured dropped full coverage and discovered at claim time that a couple dollars of savings turned into a financial nightmare. The proper strategy is to purchase plenty of coverage at a price you can afford but still have enough coverage for asset protection.

In this article, we covered a lot of tips how to compare 2004 Toyota Matrix insurance rates online. The key thing to remember is the more rate comparisons you have, the better likelihood of getting cheaper insurance. Drivers may discover the lowest priced auto insurance comes from some of the lesser-known companies. These companies often have lower car insurance rates on specific markets than their larger competitors like GEICO and State Farm.

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Comments About 2004 Toyota Matrix Insurance

  1. Kurtis Mejia

    I got decent rates for a 2004 Toyota Matrix in Detroit, Michigan. Ended up at about $120 every six months with AAA. Got better coverage too. I got prices on the web.

  2. Verda Spears

    Is State Farm cheaper than Progressive in Wichita, Kansas?

  3. Lilian Peters

    It’s all a rip off. I’m in the east part of Parkersburg, West Virginia. Got free quotes online for a 2004 Toyota Matrix. Ended up at about $110 savings annually. Went with Allstate.

  4. Karla Yates

    I’m in Dallas, Texas, and Progressive rates were affordable. Insured with AIG Insurance before. I recommend comparing lots of rates. I don’t put full coverage on it.

  5. Frieda Cherry

    Is Progressive or Esurance cheap in Wichita, Kansas?

  6. Ping Haney

    From northwest of Montgomery, AL. Got car insurance quotes with Allstate, Erie, and Hartford for my Matrix and I’m now saving $10 a month. Insured with Western Auto Insurance before. Might find lower rates online.

  7. Denae Marquez

    Good detail in your article. Proud to be from Provo, UT. Quoted with American Family, Safeco, and a few others for my Matrix and am saving around $90 a year. Might find lower rates online. Book value doesn’t justify full coverage anymore.

  8. Williemae Ruiz

    If you have a good history and are close to Fargo, ND, check out Progressive. They seem to be cheaper. I quoted rates online then called them.

  9. Pat Bradford

    Why are claims settled so low?