Cheapest Toyota Matrix Insurance in San Jose

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Discount Toyota Matrix insuranceIt's hard to believe, but 70% of consumers have bought insurance from the same company for more than four years, and virtually 40% of consumers have never compared rate quotes at all. American insurance shoppers could save up to $860 each year by just shopping around, but they think it's difficult to shop around.

To save the most money, the best way to get more affordable car insurance rates is to compare prices regularly from insurers in San Jose.

  • First, try to learn about policy coverages and the modifications you can make to drop your rates. Many rating criteria that increase rates such as distracted driving and a substandard credit score can be remedied by making minor changes in your lifestyle.
  • Second, get rate quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like GEICO and Allstate, while agents who are independent can give you price quotes from multiple companies.
  • Third, compare the new rate quotes to your existing policy to see if switching to a new carrier will save money. If you find a better price and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.

One important bit of advice is to use the same liability limits and deductibles on each quote request and and to compare all possible companies. This helps ensure a fair price comparison and many rates to choose from.

If you currently have a car insurance policy, you will definitely be able to cut your premiums using these tips. The purpose of this post is to introduce you to the most effective way to quote insurance. But California vehicle owners do need to learn how insurance companies calculate your policy premium.

There are several ways to obtain and compare prices from lots of California auto insurance companies. The best method to find cheaper Toyota Matrix rates consists of obtaining rate quotes online.

When comparison shopping, comparing a large number of companies helps locate a lower rate than you're paying now. Not every company provides online price quotes, so it's important to also get price quotes from the smaller companies as well.

The companies shown below are ready to provide free quotes in San Jose, CA. If more than one company is shown, we recommend you visit as many as you can to get a more complete price comparison.

Toyota Matrix insurance charts and tables

The table shown next covers a range of rate quotes for Toyota Matrix models. Being aware of how insurance rates are formulated can help customers make smart choices when selecting a coverage provider.

Toyota Matrix Insurance Rates in San Jose, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $298 $576 $442 $26 $132 $1,474 $123
Matrix S 2WD $342 $678 $442 $26 $132 $1,620 $135
Matrix S AWD $342 $678 $442 $26 $132 $1,620 $135
Matrix XRS 2WD $342 $678 $442 $26 $132 $1,620 $135
Get Your Own Custom Quote Go

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Prices do not factor in zip code location which can modify price quotes considerably.

Analysis of deductible levels

When shopping for auto insurance, a common question is which comprehensive and collision deductibles to buy. The rates shown below may help to conceptualize the differences in price of buying low and high coverage deductibles. The first pricing table uses a $250 physical damage coverage deductible and the second rate table uses a $1,000 deductible.

Toyota Matrix insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $298 $576 $442 $26 $132 $1,499 $125
Matrix S 2WD $342 $678 $442 $26 $132 $1,645 $137
Matrix S AWD $342 $678 $442 $26 $132 $1,645 $137
Matrix XRS 2WD $342 $678 $442 $26 $132 $1,645 $137
Get Your Own Custom Quote Go
Toyota Matrix insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $184 $362 $442 $26 $132 $1,146 $96
Matrix S 2WD $210 $426 $442 $26 $132 $1,236 $103
Matrix S AWD $210 $426 $442 $26 $132 $1,236 $103
Matrix XRS 2WD $210 $426 $442 $26 $132 $1,236 $103
Get Your Own Custom Quote Go

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Rate quotes do not factor in vehicle garaging location which can modify premium rates significantly.

Based on the figures above, using a $250 deductible will cost you roughly $33 more each month or $396 annually across all Toyota Matrix models than quoting the higher $1,000 deductible. Since the policyholder would be required to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you normally go at a minimum 23 months between claims, you would come out ahead going with the higher deductible. The numbers below show how you can do this calculation yourself.

Average monthly premium for $250 deductibles: $134
Average monthly premium for $1,000 deductibles (subtract): - $101
Monthly savings from raising deductible: $33
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $33
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

An important thing to remember is that a higher deductible level means you will have to cover more of the damage yourself when you have a comprehensive or collision claim. You need to make sure you have enough extra money in the event you need to pay more for the deductible.

Three reasons insurance is important

Despite the potentially high cost of Toyota Matrix insurance, insurance serves a purpose in several ways.

  • The majority of states have compulsory liability insurance requirements which means it is punishable by state law to not carry a specific level of liability in order to be legal. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
  • If you bought your vehicle with a loan, almost every bank will have a requirement that you have full coverage to ensure the loan is repaid in case of a total loss. If coverage lapses or is canceled, the bank may insure your Toyota at a much higher rate and force you to reimburse them the higher premium.
  • Insurance protects your Toyota and your assets. Insurance will also pay for most medical and hospital costs that are the result of an accident. Liability insurance also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, your policy will pay to repair the damage.

The benefits of having insurance are without a doubt worth the cost, particularly for liability claims. In a recent study of 1,000 drivers, the average customer overpays as much as $800 each year so you should quote and compare rates every year to save money.

Learn How to Quote Auto Insurance for Less

Lots of factors are considered when premium rates are determined. Some are pretty understandable such as your driving record, but others are not quite as obvious like your continuous coverage or how safe your car is.

  • Incidental coverages you don't need - There are many additional extra coverages that may not really be needed if you aren't diligent. Coverages for rental car reimbursement, accidental death, and extra life insurance coverage may be wasting your money. They may seem good when deciding what coverages you need, but now you might not need them so think about removing them and cutting costs.
  • Good drivers pay better costs - Good drivers pay less for auto insurance than people who have multiple driving citations. Having a single driving citation can bump up the cost by as much as twenty percent. Drivers unfortunate enough to have severe tickets such as DUI, reckless driving or excessive speeding may find they need to maintain a SR-22 with their state's department of motor vehicles in order to legally drive a vehicle.

    The example below demonstrates how citations and at-fault fender-benders can increase Toyota Matrix car insurance rates for different age groups of insureds. The data assumes a single female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are factored in.

  • Rates for guys may be higher - Over the last 50 years, statistics have shown that females tend to be a little less risky than males. Now that doesn't mean females are better drivers. Men and women cause accidents at about the same rate, but guys have accidents that have higher claims. Men also have more aggressive citations such as DWI and reckless driving.

    The illustration below compares Toyota Matrix insurance costs for male and female drivers. The rate quotes are based on no claims or driving citations, full physical damage coverage, $1,000 deductibles, single status, and no discounts are taken into consideration.

  • Never go without auto insurance - Having a gap between insurance policy dates is a guaranteed way to trigger a rate increase. And not only will insurance be more expensive, being ticketed for driving with no insurance might get you a steep fine or even jail time. You may need to submit proof of financial responsibility or a SR-22 with the California motor vehicle department.

Auto insurance is unique, just like you

Always keep in mind that when comparing coverage online or from an agent for your vehicles, there really is no best way to insure your cars. Your needs are not the same as everyone else's.Drive safe and save

For instance, these questions can help discover whether or not you might need professional guidance.

  • Are my tools covered if they get stolen from my vehicle?
  • Are my friends covered when driving my car?
  • When should I have rental car coverage?
  • Are my custom wheels covered?
  • Why am I required to buy high-risk coverage?
  • Are rock-chip repairs free?
  • When should I not buy collision coverage?
  • Do I need PIP coverage since I have good health insurance?
  • What vehicles should carry emergency assistance coverage?
  • What are the financial responsibility laws in my state?

If you're not sure about those questions but you know they apply to you then you might want to talk to an agent. If you want to speak to an agent in your area, take a second and complete this form.

Quote more and you will save more

Insureds who switch companies do it for many reasons like policy non-renewal, lack of trust in their agent, high prices and not issuing a premium refund. No matter why you want to switch, choosing a new insurance company is pretty easy and you might even save some money in the process.

As you prepare to switch companies, it's a bad idea to skimp on coverage in order to save money. There are many occasions where drivers have reduced collision coverage only to discover later that it was a big error on their part. The aim is to purchase plenty of coverage at the best price but still have enough coverage for asset protection.

We covered a lot of ways to find lower-cost Toyota Matrix insurance in San Jose. The key concept to understand is the more price quotes you have, the higher the chance of saving money. Consumers could even find that the most savings is with some of the lesser-known companies.

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