Affordable Rate Quotes for Toyota Matrix Insurance in Tampa

How long has it been since you compared cheaper Toyota Matrix insurance in Tampa? Finding more affordable Tampa Toyota Matrix insurance quotes can be rather difficult for consumers new to quoting and comparison shopping on the web. With more and more insurers available, how can you possibly compare them all to find better rates?

Insurance for Toyota MatrixUnbelievable but true according to a study over 70% of Florida drivers kept their coverage with the same car insurance company for well over three years, and 38% of drivers have never taken the time to shop around. Many consumers in the U.S. can cut their rates by $860 a year by just comparing rate quotes, but they just assume it’s a time-consuming process to save money by comparing rate quotes.

The quickest method we recommend to compare car insurance rates for Toyota Matrix insurance in Tampa utilizes the fact most of the bigger providers pay for the opportunity to give you rate quotes. To get started, all you need to do is give them some information such as your job, if you have a valid license, types of safety features, and how many miles driven. Your rating data gets transmitted to multiple top-rated companies and they return rate quotes instantly to find the best rate.

To compare affordable Toyota Matrix insurance rates now, click here and enter the information requested.

The following companies have been selected to offer quotes in Florida. In order to find cheaper car insurance in Tampa, it’s a good idea that you visit several of them in order to get a fair rate comparison.

Toyota Matrix insurance coverage information

The coverage table displayed below covers different policy rates for Toyota Matrix models. Having a good understanding how car insurance premiums are established can help drivers make smart choices when comparing insurance rates.

Toyota Matrix Insurance Rates in Tampa, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $312 $668 $564 $34 $168 $1,746 $146
Matrix S 2WD $358 $788 $564 $34 $168 $1,912 $159
Matrix S AWD $358 $788 $564 $34 $168 $1,912 $159
Matrix XRS 2WD $358 $788 $564 $34 $168 $1,912 $159
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Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Rates do not factor in vehicle garaging location which can impact premium rates greatly.

Physical damage deductible comparison

When shopping for auto insurance, a common question is what deductibles to buy. The premium rates below can help illustrate the cost difference when you select higher and lower physical damage coverage deductibles. The first rate estimation uses a $250 deductible for comp and collision and the second data table uses a $500 deductible.

Toyota Matrix insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $280 $544 $418 $24 $124 $1,415 $118
Matrix S 2WD $322 $640 $418 $24 $124 $1,553 $129
Matrix S AWD $322 $640 $418 $24 $124 $1,553 $129
Matrix XRS 2WD $322 $640 $418 $24 $124 $1,553 $129
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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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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Rates do not factor in garaging location in Tampa which can impact premium rates considerably.

Based on this data, we can arrive at the conclusion that using a $250 deductible costs an average of $16 more each month or $192 every year across all Toyota Matrix models than choosing the higher $500 deductible. Since you would pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you normally go at least 16 months between claim filings, you would most likely save money if you choose a higher deductible.

Difference between liability only and full coverage rates

The example below illustrates the difference between Toyota Matrix insurance premiums with full physical damage coverage and with liability coverage only. The premiums assume no accidents, no driving violations, $250 deductibles, drivers are not married, and no discounts are applied.

When to buy liability coverage only

There isn’t a steadfast formula of when to eliminate full coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, then it could be time to drop full coverage.

For example, let’s say your Toyota Matrix settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $7,000 after the deductible is paid. If it’s costing you more than $700 a year to have full coverage, then you might want to think about dropping full coverage.

There are a few cases where eliminating full coverage is not advised. If you have an outstanding loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not buy liability only.

How You Can Control Toyota Matrix Insurance Prices

One of the most helpful ways to save on auto insurance is to to have a grasp of some of the elements that come into play when calculating your premiums. If you have a feel for what determines premiums, this helps enable you to make changes that could result in lower premium levels.

The list below includes just a few of the factors auto insurance companies consider when setting prices.

Protect your Toyota vehicle and other assets

Even though Tampa Matrix insurance rates can get expensive, paying for car insurance may be mandatory for several reasons.

First, almost all states have mandatory liability insurance requirements which means it is punishable by state law to not carry a specific level of liability 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 you have a loan on your vehicle, almost all lenders will make it mandatory that you have insurance to ensure the loan is repaid in case of a total loss. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Toyota for a much higher rate and force you to reimburse them a much higher amount than you were paying before.

Third, car insurance preserves your car and your assets. Insurance will also pay for medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, will also pay for a defense attorney if anyone sues you for causing an accident. If you have damage to your Toyota as the result of the weather or an accident, comprehensive (other-than-collision) and collision coverage will pay to restore your vehicle to like-new condition.

The benefits of insuring your Matrix are without a doubt worth the cost, especially with large liability claims. As of last year, the average driver in Florida is wasting up to $869 every year so it’s recommended you shop around once a year at a minimum to save money.