Cheap Toyota Matrix Car Insurance in 2024 (Earn Savings With These 10 Companies)
For cheap Toyota Matrix car insurance, Erie, The General, and Safeco are our top providers. Erie offers the lowest monthly rate starting at $47. These companies stand out due to their excellent customer service and comprehensive coverage options for your Toyota Matrix needs and your peace of mind or reassurance.
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Kristen Gryglik
Licensed Insurance Agent
Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them. Licensed in Massachusetts, New Hampshire,...
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UPDATED: Sep 29, 2024
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Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Sep 29, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Erie, The General, and Safeco offer the top options for cheap Toyota Matrix car insurance. These providers excel in delivering affordable premiums combined with robust coverage options and exceptional customer service.
In this article, we will explore the various factors that influence the cost of insuring a Toyota Matrix, including the model itself, comparisons with other similar cars, tips to lower insurance premiums, and mistakes to avoid when insuring a Toyota Matrix.
Our Top 10 Company Picks: Cheap Toyota Matrix Car Insurance
Company Rank Monthly Rates A.M. Best Best For Jump to Pros/Cons
#1 $47 A+ Customer Service Erie
#2 $49 A+ New Drivers The General
#3 $52 A Comprehensive Coverage Safeco
#4 $54 A++ Military Families USAA
#5 $56 A Bundle Savings Liberty Mutual
#6 $59 A++ Family Discounts American Family
#7 $61 A+ Multi-Policy Discounts Nationwide
#8 $64 A++ Customizable Coverage Farmers
#9 $67 A Roadside Assistance AAA
#10 $70 B Reliable Service State Farm
We will also delve into different insurance coverage options, the necessity of comprehensive coverage, liability coverage requirements, the impact of driving history and location, and considerations for new versus used Toyota Matrix cars. Enter your ZIP code now to begin.
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#1 – Erie: Top Overall Pick
Pros
- Lowest Premiums: With rates starting as low as $47 per month, Erie offers some of the most affordable premiums for Toyota Matrix insurance. This cost-effectiveness helps Toyota Matrix owners and drivers keep their insurance budget under control while ensuring they receive essential coverage.
- Excellent Customer Service: Erie’s A+ rating from A.M. Best highlights their superior customer service and financial stability. This means Toyota Matrix drivers can expect reliable support and effective handling of their insurance needs.
- Comprehensive Coverage Options: Erie provides a range of coverage options, allowing Toyota Matrix owners to customize their policies to fit specific needs, from basic liability to extensive comprehensive coverage, ensuring peace of mind on the road. Check out insurance savings in our complete article called “Erie Car Insurance Discounts.”
Cons
- Limited Availability: Erie’s service is not available in all states, which may be a drawback for some Toyota Matrix owners and drivers who are outside their service areas. This limited reach can restrict access to their competitive rates and excellent coverage.
- Fewer Discount Opportunities: Compared to some competitors, Erie offers fewer discount options. This might limit Toyota Matrix enthusiasts’ ability to save on premiums through various discount opportunities.
#2 – The General: Best for New Drivers
Pros
- Ideal for New Drivers: The General’s policies are well-suited for new drivers, including those driving a Toyota Matrix. With a starting rate of $49 per month, it provides affordable coverage options tailored for those who are just starting their driving journey.
- Flexible Payment Plans: The General offers a variety of payment options, which can help Toyota Matrix owners manage their insurance costs more effectively. This flexibility is beneficial for accommodating different financial situations and preferences.
- Good Customer Support: An A+ rating from A.M. Best signifies The General’s strong customer support. Toyota Matrix drivers can expect reliable assistance and effective problem resolution, contributing to a positive insurance experience. Read more through our The General insurance review.
Cons
- Higher Premiums for Some: While The General’s rates start at $49, they may not be the most economical for all Toyota Matrix drivers, particularly those with clean driving records who could find better rates elsewhere.
- Limited Discounts: The General may not offer as many discounts as other insurers, potentially limiting savings opportunities for Toyota Matrix enthusiasts who are looking to reduce their insurance costs through various discount programs.
#3 – Safeco: Best for Comprehensive Coverage
Pros
- Comprehensive Coverage: Safeco, with rates starting at $52 per month, offers extensive coverage options ideal for Toyota Matrix owners seeking robust protection. This includes both collision and comprehensive coverage, which is valuable for those wanting thorough coverage for their vehicles.
- Solid A.M. Best Rating: With an A rating, Safeco demonstrates strong financial stability and reliability, ensuring that Toyota Matrix drivers can trust in the company’s ability to handle claims effectively.
- Customer-Friendly Policies: Safeco’s policies are designed to be user-friendly, offering flexibility and ease of management. This is beneficial for Toyota Matrix owners who prefer a straightforward approach to their insurance. Read more through our Safeco insurance review.
Cons
- Higher Rates for Some Drivers: While Safeco’s rates are competitive, they may be higher for some Toyota Matrix drivers, particularly those with less favorable driving histories or those who are younger.
- Limited Availability of Local Agents: Safeco may not have as many local agents in all areas, which can be inconvenient for Toyota Matrix owners who prefer in-person support and service.
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#4 – USAA: Best for Military Families
Pros
- Best for Military Families: USAA is highly recommended for military families, offering specialized coverage and competitive rates starting at $54 per month. Toyota Matrix owners who are military members or veterans can benefit from tailored services and discounts.
- Outstanding Customer Service: USAA holds an A++ rating from A.M. Best, reflecting exceptional customer service and financial stability. This ensures Toyota Matrix drivers receive top-notch support and reliable coverage.
- Excellent Claims Handling: Known for their efficient and fair claims handling, USAA provides peace of mind for Toyota Matrix enthusiasts, ensuring that any claims are processed quickly and fairly. Read more through our USAA insurance review.
Cons
- Membership Restrictions: USAA’s services are limited to military members, veterans, and their families. This restriction excludes many Toyota Matrix drivers who do not fall into these categories.
- Higher Premiums for Some Drivers: While USAA generally offers competitive rates, they may not be the cheapest option for all Toyota Matrix drivers, especially those who do not qualify for specific military-related discounts.
#5 – Liberty Mutual: Best for Bundle Savings
Pros
- Best for Bundle Savings: Liberty Mutual provides significant savings for customers who bundle their car insurance with other policies, such as home or renters insurance. This is advantageous for Toyota Matrix owners who have multiple insurance needs.
- Customizable Coverage Options: Offers a range of customizable coverage options, allowing Toyota Matrix drivers to tailor their policies according to their specific needs and preferences. Discover more about offerings in our article titled “Liberty Mutual Review & Ratings.”
- Roadside Assistance: Liberty Mutual includes roadside assistance in many of their policies, which is beneficial for Toyota Matrix drivers who want additional support in case of emergencies.
Cons
- Higher Base Rates: Liberty Mutual’s base rates can be higher compared to some competitors, potentially making it a less economical choice for Toyota Matrix owners who are looking for the lowest possible premiums.
- Limited Local Agent Network: May have fewer local agents in certain areas, which can be inconvenient for Toyota Matrix drivers who prefer in-person service and assistance.
#6 – American Family: Best for Family Discounts
Pros
- Best for Family Discounts: American Family offers substantial discounts for families, which can be advantageous for Toyota Matrix owners who are insuring multiple vehicles or have family members included in their policy. Rates start at $59 per month.
- High Customer Satisfaction: With an A++ rating from A.M. Best, American Family is known for its excellent customer service and claims handling, providing Toyota Matrix drivers with reliable support.
- Flexible Coverage Plans: Provides a variety of coverage options that can be adjusted to meet the needs of Toyota Matrix drivers, ensuring that they receive the protection that best suits their situation. Learn more through our American
Cons
- Higher Premiums for Some Drivers: The starting rate of $59 might be higher for Toyota Matrix drivers with less favorable driving histories or those looking for the lowest premiums.
- Limited Regional Availability: American Family may not be available in all regions, which could limit access for some Toyota Matrix drivers who are outside their service areas.
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#7 – Nationwide: Best for Multi-Policy Discounts
Pros
- Best for Multi-Policy Discounts: Nationwide offers significant discounts for bundling multiple policies, such as home and auto insurance. This is beneficial for Toyota Matrix owners who want to save on their overall insurance expenses. Rates start at $61 per month.
- Strong Customer Support: Nationwide’s A+ rating from A.M. Best signifies reliable customer service and support, ensuring that Toyota Matrix drivers receive assistance when needed. Learn more in our guide titled “Nationwide Insurance Review & Ratings.”
- Additional Benefits: Includes various additional benefits, such as accident forgiveness and new car replacement, which can enhance the value of the policy for Toyota Matrix owners.
Cons
- Higher Premiums for Some: The starting rate of $61 might be higher for Toyota Matrix drivers with less favorable risk profiles or those seeking lower premiums.
- Complex Policy Options: The range of available options can be overwhelming, making it challenging for some Toyota Matrix owners to select the most appropriate coverage without assistance.
#8 – Farmers: Best for Customizable Coverage
Pros
- Best for Customizable Coverage: Farmers offers extensive customizable coverage options, allowing Toyota Matrix owners to tailor their policies to fit unique needs, including additional coverage for specific scenarios.
- High A.M. Best Rating: With an A++ rating, Farmers ensures strong financial stability and customer service, giving Toyota Matrix drivers confidence in their insurer’s reliability. Read more through our Farmers insurance review.
- Accident Forgiveness: Includes accident forgiveness in many policies, which can be advantageous for Toyota Matrix drivers who want protection against increased premiums after their first at-fault accident.
Cons
- Potentially Higher Costs: The flexibility and extensive coverage options can lead to higher premiums, which might not be the most economical choice for all Toyota Matrix drivers.
- Complex Policy Options: The wide range of coverage options can be complex, making it necessary for Toyota Matrix owners to carefully review their choices to avoid unnecessary expenses.
#9 – AAA: Best for Roadside Assistance
Pros
- Roadside Assistance: AAA offers robust roadside assistance services, which are particularly valuable for Toyota Matrix owners who want extra peace of mind while driving. With a starting rate of $67 per month, this coverage includes towing, battery jumps, and more, ensuring help is available in case of an emergency.
- Comprehensive Coverage: AAA provides extensive coverage options, which can be tailored to the needs of Toyota Matrix drivers. This includes both basic and additional coverages that can be customized to enhance protection.
- Strong Customer Service: AAA’s A rating from A.M. Best reflects reliable customer service and support. Toyota Matrix drivers can expect effective and responsive service, which is crucial for handling any insurance-related issues. Read more through our AAA insurance review.
Cons
- Higher Premiums for Some: The starting rate of $67 may be on the higher side for some Toyota Matrix drivers, especially when compared to more budget-friendly options. This could be a drawback for those seeking lower premiums.
- Limited Coverage in Certain Areas: AAA’s coverage options and availability might be limited in some regions, which could affect Toyota Matrix owners who live in areas where AAA’s services are less comprehensive.
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#10 – State Farm: Best for Reliable Service
Pros
- Reliable Service: State Farm is known for its dependable service, which is reflected in its B rating from A.M. Best. Toyota Matrix drivers can rely on State Farm for consistent and reliable insurance service.
- Wide Availability: State Farm has a broad network of agents and coverage areas, making it accessible to a wide range of Toyota Matrix owners across the country. This widespread availability ensures easy access to insurance services.
- Customizable Coverage: State Farm offers flexible coverage options, allowing Toyota Matrix drivers to adjust their policies to meet their specific needs. This customization can help in tailoring coverage to personal preferences and driving habits. Learn more in our article called “State Farm Insurance Review & Ratings.”
Cons
- Higher Premiums for Some Drivers: With rates starting at $70, State Farm may not offer the lowest premiums for all Toyota Matrix drivers. Those with less favorable driving records or those seeking the most cost-effective options might find cheaper alternatives.
- B Rating for Financial Stability: State Farm’s B rating from A.M. Best suggests that while their service is reliable, their financial stability might not be as strong as other top-rated insurers, which could be a concern for some Toyota Matrix owners looking for maximum reliability in claim handling.
Factors That Influence the Cost of Toyota Matrix Car Insurance
When determining the cost of insuring a Toyota Matrix, insurance companies consider several key factors. These include the age and driving record of the insured individual, as well as the model and year of the Toyota Matrix.
Toyota Matrix Car Insurance Monthly Rates by Coverage Level & Provider
Insurance Company Minimum Coverage Full Coverage
AAA $67 $120
American Family $59 $115
Erie $47 $105
Farmers $64 $125
Liberty Mutual $56 $110
Nationwide $61 $118
Safeco $52 $108
State Farm $70 $130
The General $49 $107
USAA $54 $112
Other factors that influence insurance costs include the geographical location of the insured individual, the purpose of use (personal or business), the desired coverage options, and the deductible amount chosen. Additionally, factors such as the theft rate of the vehicle, the safety features it offers, and any modifications made to the car can impact insurance rates.
To find the best rates, it’s advisable to compare car insurance quotes from different providers, as this can help you assess how various factors affect your premiums and find the most cost-effective coverage for your Toyota Matrix.
Understanding the Different Factors That Determine Toyota Matrix Car Insurance Rates
Insurance rates for a Toyota Matrix are determined by various factors. The age and driving experience of the insured individual play a significant role in determining rates, as statistics show that younger and less experienced drivers are more likely to be involved in accidents.
The model and year of the Toyota Matrix also affect car insurance costs, with newer models generally commanding higher premiums due to higher replacement costs.
Insurance companies take into account the historical claims data associated with a specific model to gauge the risk involved, which directly affects the rates offered. Additionally, factors such as the safety features of the Toyota Matrix, anti-theft devices installed, and the average annual mileage driven can impact insurance rates. Enter your ZIP code now to begin comparing.
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The Role of the Toyota Matrix Model in Determining Insurance Costs
The specific model of a Toyota Matrix can impact insurance costs significantly, especially for younger drivers. For example, if you’re a 21-year-old driver, finding the best car insurance for 21-year-old drivers involves considering how insurance companies assess risk based on factors like the cost of parts and repairs, the likelihood of theft, and the safety features offered by the specific model.
Insurance companies use these factors, along with historical claims data, to determine premiums. Generally, models with better safety ratings and lower theft rates can lead to more affordable insurance premiums. Therefore, choosing a Toyota Matrix model with strong safety features and lower theft rates is crucial in finding the best coverage at a reasonable cost for younger drivers.
Comparing Insurance Rates for Toyota Matrix With Other Similar Car Models
When shopping for car insurance for a Toyota Matrix, it is crucial to compare car insurance costs with other similar car models. This allows individuals to assess whether the insurance rates offered for the Toyota Matrix are competitive. Insurance companies may categorize vehicles into different risk groups based on factors such as model, year, and historical claims data.
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By comparing car insurance costs for the Toyota Matrix with other similar models, individuals can gain insight into whether there are more cost-effective options available.
It is important to remember that insurance premiums can vary between providers, so comparing rates from multiple insurers is essential to ensure the best possible deal. Enter your ZIP code now to begin comparing.
Frequently Asked Questions
What factors affect the cost of Toyota Matrix car insurance?
The cost of Toyota Matrix car insurance can be influenced by several factors, including the driver’s age, location, driving history, coverage limits, deductible amount, and the insurance provider’s rates.
Are Toyota Matrix cars expensive to insure?
The cost of insurance for Toyota Matrix cars can vary depending on the factors mentioned earlier. Generally, the Toyota Matrix is considered an affordable car to insure due to its safety features and relatively low repair costs. Enter your ZIP code now.
What are some ways to lower the cost of Toyota Matrix car insurance?
To find the most affordable car insurance for a Toyota Matrix, consider several strategies. Maintaining a clean driving record, bundling car insurance with other policies, and opting for higher deductibles can all help reduce premiums.
Additionally, taking advantage of available discounts and comparing quotes from various providers are effective ways to find the best rates.
It’s also worth noting that “what age do you get cheap car insurance?” can influence your premium; younger drivers often face higher rates, while older, more experienced drivers may benefit from lower costs.
Does the Toyota Matrix model year affect insurance rates?
Yes, the model year of a Toyota Matrix can impact insurance rates. Generally, newer models may have higher insurance costs due to their higher value and potential repair expenses. However, other factors such as safety features and crash test ratings can also influence insurance rates.
Is it necessary to have comprehensive coverage for a Toyota Matrix?
Whether comprehensive coverage is necessary for a Toyota Matrix depends on personal circumstances and preferences.
Comprehensive coverage provides protection against non-collision incidents such as theft, vandalism, and natural disasters.
It may be particularly beneficial for newer or more valuable Toyota Matrix cars. Enter your ZIP code now to begin.
What is the starting monthly rate for car insurance with Erie for a Toyota Matrix?
Which insurance provider is ranked as the best for new drivers with a Toyota Matrix?
The General is ranked as the best insurance provider for new drivers with a Toyota Matrix. It offers a starting monthly rate of $49, catering specifically to new drivers.
What insurance provider offers the lowest monthly rate for comprehensive coverage for a Toyota Matrix?
Safeco offers the lowest monthly rate for comprehensive coverage for a Toyota Matrix, starting at $52. It is ranked #3 due to its extensive coverage options. Enter your ZIP code now to begin.
How does USAA’s insurance rate compare to that of Liberty Mutual for a Toyota Matrix?
When searching for affordable car insurance for a Toyota Matrix, USAA offers competitive rates starting at $54, which is slightly lower than Liberty Mutual’s rate of $56.
If you’re a military family or eligible for USAA’s benefits, you might find their rates and customer service to be especially favorable. To find the best rates, consider getting insurance quotes online from various providers to compare options and potentially secure even better deals.
What are the benefits of AAA’s roadside assistance coverage for Toyota Matrix owners?
AAA’s roadside assistance coverage includes services like towing and battery jumps, providing added peace of mind for Toyota Matrix owners. It also offers various member discounts, enhancing overall value.
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Kristen Gryglik
Licensed Insurance Agent
Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them. Licensed in Massachusetts, New Hampshire,...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
