How many times have you told yourself to find lower-priced Toyota Matrix insurance in Philadelphia? Are you irritated from sacrificing other expenses to insure your Toyota every month? You have the same problem as many other Pennsylvania drivers.
Unbelievable but true according to a study most consumers have been with the same company for at least the last four years, and 38% of drivers have never shopped around. With the average car insurance premium being $1,400, Pennsylvania drivers could save up to $690 each year by just comparing rate quotes, but most just don’t grasp the amount of money they would save if they switch to a new company. You have so many auto insurance companies to choose from, and even though it’s nice to have a choice, so many choices can make it hard to compare rates and find the lowest cost car insurance.
Lower your car insurance rates with discounts
Some insurance providers don’t always advertise the entire discount list very well, so the following list contains a few of the more common in addition to some of the lesser obvious discounts you could be receiving when you buy Philadelphia auto insurance online.
- Anti-lock Brake Discount – Anti-lock brake equipped vehicles prevent accidents and the ABS can save up to 10%.
- Early Payment Discounts – By paying your policy upfront as opposed to paying monthly you can avoid monthly service charges.
- Own a Home and Save – Being a homeowner can get you a discount because owning a home means you have a higher level of financial diligence.
- Memberships – Having an affiliation with qualifying employment or professional organizations could trigger savings on your bill.
- No Claim Discounts – Drivers with accident-free driving histories have much lower rates when compared to bad drivers.
- Senior Citizen Discount – If you qualify as a senior citizen, you can possibly qualify for a discount up to 10%.
- Federal Employees – Active or former government employment may qualify for a discount when you quote Philadelphia auto insurance with some car insurance companies.
- Policy Bundle Discount – If you combine your auto and home policies and insure them both with the same insurance company you may save up to 20% and get you cheaper Matrix insurance.
- Seat Belts Save – Buckling up and requiring all passengers to buckle up before driving can save up to 10 percent (depending on the company) off PIP or medical payments premium.
Discounts reduce rates, but you should keep in mind that most of the big mark downs will not be given to the entire policy premium. Some only apply to specific coverage prices like liability and collision coverage. So when it seems like you can get free auto insurance, you aren’t that lucky. But all discounts will bring down your policy premium.
The chart below visualizes the comparison of Toyota Matrix auto insurance rates with and without discounts applied. The premiums are based on a male driver, no tickets, no at-fault accidents, Pennsylvania state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, multi-car, claim-free, marriage, and multi-policy discounts applied.
To find car insurance companies that offer discounts in Philadelphia, click here.
Getting a low cost price on insurance doesn’t have to be difficult. All that’s required is to take a couple of minutes getting comparison quotes provided by online insurance companies.
Online shopping is fast and free, and it makes it obsolete to waste gas driving to different agent offices. Quoting Toyota Matrix insurance online eliminates the need for an insurance agent unless your situation requires the trained advice that can only be provided by a licensed insurance agent. Although, it is possible compare the best prices online but buy the policy through an agent.
The car insurance companies shown below can provide comparison quotes in Pennsylvania. If multiple companies are shown, we recommend you visit several of them in order to get a fair rate comparison.
Analysis of coverages
The coverage table below outlines a range of insurance premium costs for Toyota Matrix models. Having knowledge of how prices are formulated helps drivers make smart choices when selecting a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $218 | $492 | $398 | $24 | $120 | $1,252 | $104 |
| Matrix S 2WD | $250 | $580 | $398 | $24 | $120 | $1,372 | $114 |
| Matrix S AWD | $250 | $580 | $398 | $24 | $120 | $1,372 | $114 |
| Matrix XRS 2WD | $250 | $580 | $398 | $24 | $120 | $1,372 | $114 |
| Get Your Own Customized Quote Go | |||||||
Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Pennsylvania minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Estimates do not factor in specific location information which can influence premium rates considerably.
Should you raise deductibles?
When buying car insurance, a common question is where should you set your physical damage deductibles. The data tables below summarize the differences in price between high and low coverage deductibles. The first set of rates uses a $250 physical damage coverage deductible and the second set of prices uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $222 | $428 | $330 | $20 | $98 | $1,123 | $94 |
| Matrix S 2WD | $254 | $506 | $330 | $20 | $98 | $1,233 | $103 |
| Matrix S AWD | $254 | $506 | $330 | $20 | $98 | $1,233 | $103 |
| Matrix XRS 2WD | $254 | $506 | $330 | $20 | $98 | $1,233 | $103 |
| Get Your Own Customized Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $180 | $346 | $330 | $20 | $98 | $974 | $81 |
| Matrix S 2WD | $206 | $408 | $330 | $20 | $98 | $1,062 | $89 |
| Matrix S AWD | $206 | $408 | $330 | $20 | $98 | $1,062 | $89 |
| Matrix XRS 2WD | $206 | $408 | $330 | $20 | $98 | $1,062 | $89 |
| Get Your Own Customized Quote Go | |||||||
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Pennsylvania minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Information does not factor in specific garaging location which can revise price quotes considerably.
Based on the above data, using a $250 deductible would cost the average driver about $14 more each month or $168 each year than buying the higher $500 deductible. Due to the fact that you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you average at a minimum 18 months between claim filings, you would probably come out ahead if you choose a higher deductible.
Does full coverage make sense?
The information below visualizes the comparison of Toyota Matrix insurance costs with full physical damage coverage compared to only buying liability only. The information is based on no claims, a clean driving record, $500 deductibles, marital status is single, and no discounts are taken into consideration.
When to stop buying comprehensive and collision coverage
There is no set guideline of when to stop paying for comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than 10% of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your Toyota Matrix claim settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $4,000 after paying the physical damage deductible. If you are currently paying more than $400 annually for your policy with full coverage, then you might consider buying liability only.
There are some scenarios where dropping physical damage coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage in place.
Smart Consumers Know How to Get Car Insurance Cheaper
A large part of saving on car insurance is knowing a few of the rating criteria that come into play when calculating car insurance rates. If you understand what positively or negatively impacts your premiums, this helps enable you to make changes that can help you get lower rates. Lots of things are part of the calculation when you get your auto insurance bill. Some of the criteria are obvious such as traffic violations, but some are less apparent such as your marital status or your vehicle rating.
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Tickets can be expensive – A bad driving record influences premium rates substantially. Careful drivers get better prices compared to drivers with tickets. Getting just one ticket can increase rates twenty percent or more. Drivers who have received flagrant citations like hit and run, DWI or reckless driving convictions may find they need to complete a SR-22 with their state’s licensing department in order to legally drive.
The illustration below demonstrates how traffic citations and accident claims can affect Toyota Matrix annual premium costs for different categories of driver ages. The costs are based on a married female driver, full coverage, $250 deductibles, and no discounts are factored in.
- More traffic equals higher costs – Choosing to live in a rural area is a good thing when talking about car insurance. Drivers in populated areas have to deal with much more traffic and a longer drive to work. Fewer drivers on the road corresponds to lower accident rates and also fewer theft and vandalism claims.
- Extra policy coverages that may not be needed – Insurance policies have a lot of additional extra coverages that you can get tricked into buying but may not be useful. Add-on coverages like coverage for rental cars, death and dismemberment, and extra equipment coverage may be costing you every month. These coverages may sound good when you first buy your policy, but your needs may have changed so eliminate them to save money.
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Males pay more for insurance coverage – Statistics demonstrate that men are more aggressive behind the wheel. However, don’t assume that men are WORSE drivers than women. Both sexes tend to get into auto accidents in similar numbers, but males tend to have higher claims. They also get cited for more serious violations such as driving while intoxicated (DWI) or driving recklessly.
The diagram below shows the difference between Toyota Matrix annual premium costs for male and female drivers. The prices are based on no claims, a clean driving record, full physical damage coverage, $250 deductibles, marital status is single, and no other discounts are factored in.
Are insurance agencies obsolete?
Some people still like to get professional advice from a licensed agent and that is just fine! Experienced insurance agents can help determine the best coverages and help you file claims. One of the great benefits of comparing rate quotes online is the fact that you can find the lowest rates and still have an agent to talk to. Putting coverage with local agents is important especially in Philadelphia.
To help locate an agent, after submitting this short form, your insurance data gets sent to participating agents in Philadelphia who will return price quotes for your business. You don’t have to search for an agent since price quotes are sent immediately to you. If you have a need to get a comparison quote from a particular provider, don’t hesitate to go to their quote page and complete a quote there.
When researching an insurance agent, it can be helpful to understand the different agency structures and how they differ in how they quote coverages. Auto insurance agents can either be exclusive or independent agents depending on their company appointments. Both do a good job, but it’s important to point out the difference between them since it can affect your selection of an agent.
Independent Auto Insurance Agencies or Brokers
These agents are not restricted to one company and that allows them to write policies with a variety of different insurance companies and find the cheapest auto insurance rates. If your agent finds better pricing, they simply switch companies in-house and you don’t have to switch agencies. When comparing auto insurance rates, it’s a good idea to include rate quotes from multiple independent agents in order to have the best price comparison.
Featured below is a short list of independent insurance agencies in Philadelphia who may be able to give you rate quotes.
Martin Insurance
5700 Delancey St – Philadelphia, PA 19143 – (215) 471-6860 – View Map
Philadelphia Insurance Companies
231 St Asaphs Rd #100 – Bala Cynwyd, PA 19004 – (610) 617-7900 – View Map
Crossing Insurance Group
4252 Richmond St – Philadelphia, PA 19137 – (215) 321-4990 – View Map
Exclusive Auto Insurance Agents
Exclusive insurance agents can only provide one company’s prices and some examples include American Family, State Farm, and Allstate. They usually cannot compare rates from other companies so you might not find the best rates. These agents receive extensive training on their company’s products which helps them compete with independent agents.
Below are exclusive insurance agencies in Philadelphia that can give you rate quotes.
Joe Ems – State Farm Insurance Agent
7348 Frankford Ave – Philadelphia, PA 19136 – (215) 333-5100 – View Map
Jeff Gottesman – State Farm Insurance Agent
9551 Bustleton Ave – Philadelphia, PA 19115 – (215) 725-1000 – View Map
State Farm – Philadelphia – Thanh Pham
254 S 10th St – Philadelphia, PA 19107 – (215) 238-7400 – View Map
Choosing an insurance agent shouldn’t rely on just the price. Any agent in Philadelphia should have no problem answering these questions:
- Do they get paid more for recommending certain coverages?
- When do they do a full risk review?
- Is the agent CPCU or CIC certified?
- Do they offer claims assistance after hours?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
Choosing the best vehicle insurance in Pennsylvania is an important decision
Despite the potentially high cost of Toyota Matrix insurance, auto insurance is most likely required but also gives you several important benefits.
- Just about all states have mandatory insurance requirements which means you are required to buy specific limits of liability if you want to drive legally. In Pennsylvania 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 have a loan on your Toyota Matrix, more than likely the lender will force you to buy insurance to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the lender will be forced to insure your Toyota at a more expensive rate and force you to reimburse them a much higher amount than you were paying before.
- Insurance safeguards not only your car but also your financial assets. It will also provide coverage for medical transport and hospital expenses incurred in an accident. Liability insurance will also pay to defend you if someone files suit against you as the result of an accident. If your Toyota gets damaged, your auto insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of having auto insurance outweigh the cost, especially if you ever need it. Today the average American driver is currently overpaying as much as $800 each year so smart consumers compare quotes once a year at a minimum to be sure current rates are still competitive.
In Summary
When buying insurance coverage, never reduce needed coverages to save money. There have been many situations where an accident victim reduced uninsured motorist or liability limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. The goal is to buy enough coverage at an affordable rate but still have enough coverage for asset protection.
We just presented a lot of ways to shop for Toyota Matrix insurance online. The key concept to understand is the more rate quotes you have, the better your chances of lowering your prices. Drivers may even discover the lowest premium rates are with an unexpected company. Regional companies may have significantly lower prices on certain market segments as compared to the big name companies such as GEICO and State Farm.
More learning opportunities
- Teen Driving Statistics (iihs.org)
- What Auto Insurance is Cheapest for a Toyota Corolla in Philadelphia? (FAQ)
- How Much is Car Insurance for a Chevrolet Silverado in Philadelphia? (FAQ)
- Who Has Cheap Auto Insurance Rates for a Honda CR-V in Philadelphia? (FAQ)
- Who Has Cheap Auto Insurance for Handicapped Drivers in Philadelphia? (FAQ)
- How Much are Car Insurance Quotes for a 20 Year Old Male in Philadelphia? (FAQ)
- Who Has the Cheapest Auto Insurance for Welfare Recipients in Philadelphia? (FAQ)
- What Insurance is Cheapest for a Nissan Rogue in Philadelphia? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Hyundai Elantra in Philadelphia? (FAQ)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Event Data Recorders FAQ (iihs.org)
- Vehicle Insurance in the U.S. (Wikipedia)