Cheapest Rates for Toyota Matrix Insurance in Los Angeles

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Insurance rates Toyota Matrix in Los AngelesWant to learn how to buy cheaper auto insurance rates in Los Angeles, CA? Los Angeles shoppers have options when shopping for affordable Toyota Matrix insurance. You can either spend your time struggling with agents trying to get quotes or leverage the internet to get rate quotes. There are both good and bad ways to find auto insurance online and we'll show you the best way to get price quotes for a Toyota and get the lowest possible price either online or from Los Angeles insurance agents.

Unbelievable but true according to a study most auto insurance policyholders have purchased from the same company for more than four years, and nearly the majority have never compared rate quotes at all. Many drivers in Los Angeles could pocket $470 a year just by shopping around, but they underestimate the large savings they would see if they switch to a new company.

Locating the most cost-effective auto insurance policy in Los Angeles seems hard but is not really that difficult. If you have auto insurance now, you should be able to buy cheaper auto insurance using the ideas covered in this article. Drivers just need to know the proper way to find the lowest price online.

The companies in the list below provide price comparisons in Los Angeles, CA. If multiple providers are shown, we recommend you get price quotes from several of them to find the most affordable car insurance rates.

Affordable Los Angeles car insurance quotes with discounts

Some providers don't always advertise their entire list of discounts in an easy-to-find place, so the below list has some of the best known as well as some of the hidden credits available to you.Cheaper car insurance with discounts

  • Low Mileage Discounts - Low mileage vehicles could earn slightly better rates than normal.
  • Air Bag Discount - Factory air bags or automatic seat belts can qualify for discounts up to 30%.
  • Payment Discounts - By making one initial payment instead of monthly or quarterly installments you could save 5% or more.
  • More Vehicles More Savings - Purchasing coverage when you have multiple cars on one policy can get a discount on all vehicles.
  • Mature Driver Discount - Seniors can get a small discount on rates.
  • Student Driver Training - Reduce the cost of insurance for teen drivers by having them participate in a local driver's education class if it's offered in school.
  • Smart Student Discounts - This discount may save as much as 25% on a Los Angeles auto insurance quote. The discount lasts until age 25.
  • Distant College Student Discount - Older children who live away from home at college and don't have a car may be insured at a cheaper rate.

As is typical with insurance, many deductions do not apply to all coverage premiums. Some only reduce the cost of specific coverages such as collision or personal injury protection. Even though the math looks like all the discounts add up to a free policy, you aren't that lucky.

The example below compares Toyota Matrix insurance costs with and without discounts being applied to the rates. The premiums assume a female driver, a clean driving record, no claims, California state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, homeowner, claim-free, marriage, and safe-driver discounts applied.

Large car insurance companies and a summarized list of policyholder discounts can be found below.

  • Progressive includes discounts for multi-policy, homeowner, continuous coverage, multi-vehicle, online quote discount, and online signing.
  • SAFECO policyholders can earn discounts including anti-theft, homeowner, bundle discounts, accident prevention training, multi-car, and teen safe driver.
  • American Family may offer discounts for mySafetyValet, accident-free, bundled insurance, good driver, air bags, Steer into Savings, and good student.
  • MetLife offers discounts including multi-policy, claim-free, good driver, good student, and accident-free.
  • GEICO has discounts for defensive driver, multi-policy, anti-lock brakes, multi-vehicle, and five-year accident-free.
  • The Hartford discounts include anti-theft, bundle, air bag, defensive driver, and vehicle fuel type.

If you need lower rates, check with every prospective company to give you their best rates. Some of the earlier mentioned discounts may not be offered in Los Angeles. To locate insurance companies that have a full spectrum of discounts in California, follow this link.

Data for Toyota Matrix insurance

The rate table displayed below covers different insurance rates for Toyota Matrix models. Having a good grasp of how policy premiums are determined can help drivers make decisions on the best policy to buy.

Toyota Matrix Insurance Rates in Los Angeles, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $242 $464 $442 $26 $132 $1,306 $109
Matrix S 2WD $278 $546 $442 $26 $132 $1,424 $119
Matrix S AWD $278 $546 $442 $26 $132 $1,424 $119
Matrix XRS 2WD $278 $546 $442 $26 $132 $1,424 $119
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Price estimates do not factor in specific garaging location which can modify auto insurance rates greatly.

Analysis of deductible levels

When buying car insurance, a common question is where to set your physical damage deductibles. The data tables below sum up the difference in cost when you buy lower versus higher insurance deductibles. The first rate estimation uses a $250 deductible for comprehensive and collision coverage and the second price chart uses a $1,000 deductible.

Toyota Matrix insurance rates 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
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Toyota Matrix insurance rates 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
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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, homeowner, safe-driver, and multi-vehicle. Table data does not factor in specific zip code location which can impact auto insurance rates considerably.

Based on the data above, we can derive that using a $250 deductible costs approximately $33 more each month or $396 annually than requesting the higher $1,000 deductible. Since you would pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to have more than 23 months between claims, you would more than likely save some money going with the higher deductible.

The diagram below highlights how deductible choice and can affect Toyota Matrix annual premium costs for each age group. The premiums assume a single female driver, full physical damage coverage, and no discounts are taken into consideration.

Poor driving habits will raise your car insurance rates

The information below demonstrates how citations and at-fault collisions drive up Toyota Matrix insurance costs for each different age group. The price estimates are based on a married female driver, full physical damage coverage, $100 deductibles, and no discounts are applied.

Rate comparison of full coverage and liability-only

The diagram below compares Toyota Matrix car insurance rates when comparing full coverage to liability only. The price estimates are based on no tickets, no at-fault accidents, $500 deductibles, marital status is single, and no discounts are applied.

When to stop buying full coverage

There is no set rule for eliminating full coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is more than 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.

For example, let's say your Toyota Matrix book value is $8,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $7,000 after paying your policy deductible. If you are currently paying more than $700 annually for physical damage coverage, then it could be time to drop full coverage.

There are a few situations where dropping physical damage coverage is not advised. If you haven't satisfied your loan, you have to maintain full coverage to protect the lienholder's interest. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.

When should I contact an insurance agent?

A small number of people just want to talk to an insurance agent and that is just fine! Good agents are trained to spot inefficiencies and help file insurance claims. The best thing about getting free rate quotes online is that you can obtain cheap rate quotes and also buy local.

Insurance agency in Los AngelesUpon completion of this quick form, your insurance coverage information is transmitted to local insurance agents in Los Angeles who will gladly provide quotes to get your business. It simplifies rate comparisons since you won't have to even leave your home since price quotes are sent directly to your email. If you need to compare prices for a specific company, you just need to jump over to their website and fill out the quote form the provide.

Choosing the best provider requires more thought than just a cheap quote. Any agent in Los Angeles should be willing to answer these questions.

  • Are you getting all the discounts the company offers?
  • Are they involved in claim handling?
  • Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
  • Did they already check your driving record and credit reports?
  • Does the company have a local claim office in Los Angeles?
  • Does the agency provide any after hours assistance?
  • Will vehicle repairs be made with aftermarket parts or OEM replacement parts?

If you're trying to find a reliable insurance agency, it can be helpful to understand the different types of agents and how they work. Agents in Los Angeles can either be independent (non-exclusive) or exclusive. Either type can sell car insurance policies, but it's good to learn the subtle differences because it may have an impact on the selection process.

Exclusive Agents

These type of agents can usually just insure with one company like American Family, State Farm, and AAA. Exclusive agents are unable to place coverage with different providers so keep that in mind. These agents are usually quite knowledgeable on what they offer which helps them sell on service rather than price. A lot of people use the same agent mostly because of loyalty to the company rather than having low rates.

Shown below are Los Angeles exclusive insurance agencies who can help you get price quotes.

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Independent Agencies or Brokers

Agents of this type are appointed with more than one company so they can quote policies amongst many companies depending on which coverage is best. If they find a cheaper price, they can switch companies in-house which requires no work on your part. When comparing car insurance prices, it's recommended you get some free quotes from a couple of independent agencies to have the most options to choose from. Most independent agents also contract with mutual insurance companies that may have much lower rates than larger companies.

The following is a short list of independent insurance agents in Los Angeles that are able to give price quotes.

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Choosing the best Matrix insurance in California is an important decision

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

  • Almost all states have minimum liability requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance coverage 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 your Toyota has a lienholder, it's guaranteed your bank will make it mandatory that you have physical damage coverage to ensure loan repayment if the vehicle is totaled. If you default on your policy, the lender may have to buy a policy to insure your Toyota for a much higher rate and require you to reimburse them a much higher amount than you were paying before.
  • Insurance protects your Toyota Matrix and your assets. It will also reimburse you for many types of medical costs incurred in an accident. Liability coverage will also pay attorney fees if you cause an accident and are sued. If your Toyota gets damaged, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.

The benefits of having insurance more than cancel out the cost, specifically if you ever have a liability claim. An average driver in America is overpaying more than $869 every year so smart consumers compare quotes at every policy renewal to make sure the price is not too high.

Insurance policy specifics

Having a good grasp of insurance aids in choosing the best coverages for your vehicles. Insurance terms can be difficult to understand and nobody wants to actually read their policy.

Liability car insurance

This provides protection from injuries or damage you cause to a person or their property that is your fault. It protects you from claims by other people. It does not cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 15/30/5 that translate to $15,000 bodily injury coverage, a limit of $30,000 in injury protection per accident, and $5,000 of coverage for damaged property.

Liability coverage pays for claims such as emergency aid, repair bills for other people's vehicles, repair costs for stationary objects, pain and suffering and bail bonds. How much liability should you purchase? That is your choice, but it's cheap coverage so purchase as much as you can afford. California state law requires minimum liability limits of 15/30/5 but drivers should carry better liability coverage.

The next chart shows why minimum state limits may not be high enough to cover claims.

Uninsured Motorist or Underinsured Motorist insurance

This protects you and your vehicle when the "other guys" either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and damage to your Toyota Matrix.

Since many California drivers carry very low liability coverage limits (California limits are 15/30/5), it doesn't take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea.

Collision protection

Collision coverage will pay to fix damage to your Matrix resulting from colliding with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like hitting a mailbox, scraping a guard rail, damaging your car on a curb and backing into a parked car. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. It's also possible to raise the deductible on your Matrix in order to get cheaper collision rates.

Comprehensive coverage (or Other than Collision)

Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like theft, damage from flooding and hail damage. The maximum amount you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle's value it's probably time to drop comprehensive insurance.

Insurance for medical payments

Medical payments and Personal Injury Protection insurance provide coverage for expenses like pain medications, rehabilitation expenses, doctor visits and dental work. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay

Final considerations

In this article, we presented a lot of tips how to find affordable Toyota Matrix insurance in Los Angeles. The key thing to remember is the more quotes you get, the better your comparison will be. Consumers may even find the lowest premium rates are with some of the lesser-known companies.

Budget-friendly insurance in Los Angeles can be found from both online companies and with local Los Angeles insurance agents, and you should compare price quotes from both to have the best rate selection. There are still a few companies who don't offer the ability to get a quote online and usually these regional insurance providers work with independent insurance agencies.

Drivers switch companies for many reasons like an unsatisfactory settlement offer, questionable increases in premium, high rates after DUI convictions or extreme rates for teen drivers. No matter why you want to switch, choosing a new insurance company can be less work than you think.

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