Want to know an easy way to compare low-cost Toyota Matrix insurance in Minneapolis? Feel like you’re a prisoner to overpriced Toyota Matrix insurance in Minneapolis? Believe me, there are many Minneapolis consumers feeling the pinch from expensive auto insurance.
Anyone knows that car insurance companies don’t want policyholders to shop around. Consumers who get price comparisons will most likely buy a different policy because of the high probability of finding a more affordable policy. A survey found that consumers who shopped around saved $850 each year compared to drivers who don’t regularly compare prices.
If finding low prices for auto insurance in Minneapolis is your objective, then learning about how to quote prices and compare coverages can make shopping around easier.
Drivers have many auto insurance companies to choose from, and though it is a good thing to have a choice, lots of choices makes it harder to find a good deal for Toyota Matrix insurance in Minneapolis.
Finding the cheapest coverage in Minneapolis can be made easier if you know where to look. Essentially every driver who needs more affordable auto insurance will more than likely find a lower-cost policy. But Minnesota consumers should learn the way insurance companies calculate your policy premium and use it to find better rates.
How Your Matrix Insurance Rates are Determined
When buying auto insurance it’s important to understand the different types of things that are used to determine your policy premiums. When you know what positively or negatively influences your rates, this helps enable you to make changes that could help you find better auto insurance rates. Many things are used in the calculation when premium rates are determined. Some are pretty understandable like an MVR report, although others are more transparent like your continuous coverage or how safe your car is.
Poor credit decisions can cost you – Having a bad credit rating can be a huge factor in determining premium rates. If your credit score is lower than you’d like, you could be paying less to insure your Toyota Matrix by improving your rating. Insureds with high credit ratings tend to file fewer claims than those with lower ratings.
Performance impacts insurance premiums – The type of vehicle you are trying to find cheaper insurance for makes a substantial difference in your premium level. The lowest premiums will generally be found on economy passenger cars, but the cost you end up paying is determined by many additional factors.
The next chart assumes a single male driver age 50, full coverage with $250 deductibles, and no discounts or violations. It illustrates Toyota Matrix insurance rates compared to other models that have different risk factors.
Consolidating policies can get discounts – Most auto insurance companies afford lower prices to customers that buy multiple policies, otherwise known as a multi-policy discount. Even if you qualify for this discount already, consumers should still check prices from other companies to help guarantee you have the best rates.
Rural areas have lower premiums – Residing in a rural area has definite advantages when talking about auto insurance. Fewer drivers and short commutes means fewer accidents and lower theft and vandalism rates. Urban drivers regularly have congested traffic and more time behind the wheel. More time commuting statistically corresponds to a higher accident and claim rate.
Can a thief steal your car? – Owning a car with advanced anti-theft systems can help bring down rates. Theft prevention features such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent vehicle theft.
Annual miles is a factor – The more you drive in a year’s time the higher the price you pay to insure it. A lot of companies price each vehicle’s coverage partially by how you use the vehicle. Cars that sit idle most of the time can get a lower rate than vehicles that are driven to work every day. Double check that your auto insurance policy states the correct driver usage, because improper ratings can cost you money. An incorrectly rated Matrix may be costing you.
The fastest way that we advise to compare car insurance company rates for Toyota Matrix insurance in Minneapolis is to take advantage of the fact all the major auto insurance companies participate in a system to give free rates quotes. To begin a comparison, all you need to do is give them rating details like whether you drive to work or school, any included safety features, an estimate of your credit level, and marital status. The rating information is submitted instantly to many highly-rated insurers and you get price estimates instantly to find the best rate.
If you would like to start a quote now, click here and enter your zip code.
The companies shown below offer free rate quotes in Minneapolis, MN. If multiple companies are listed, we recommend you visit several of them to get a more complete price comparison.
Statistics and details
The table displayed next highlights different coverage costs for Toyota Matrix models. Having a better understanding of how prices are determined can assist in making decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $114 | $254 | $334 | $20 | $100 | $822 | $69 |
| Matrix S 2WD | $130 | $300 | $334 | $20 | $100 | $884 | $74 |
| Matrix S AWD | $130 | $300 | $334 | $20 | $100 | $884 | $74 |
| Matrix XRS 2WD | $130 | $300 | $334 | $20 | $100 | $884 | $74 |
| Get Your Own Custom Quote Go | |||||||
Data variables include married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Rates do not factor in vehicle location which can influence premium rates significantly.
Higher deductibles save money
When shopping for car insurance, a common question is which comprehensive and collision deductibles to buy. The rates shown below may help you to understand the premium difference of buying low and high insurance deductibles. The first set of prices 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 | $214 | $414 | $318 | $18 | $94 | $1,083 | $90 |
| Matrix S 2WD | $246 | $486 | $318 | $18 | $94 | $1,187 | $99 |
| Matrix S AWD | $246 | $486 | $318 | $18 | $94 | $1,187 | $99 |
| Matrix XRS 2WD | $246 | $486 | $318 | $18 | $94 | $1,187 | $99 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $174 | $334 | $318 | $18 | $94 | $938 | $78 |
| Matrix S 2WD | $200 | $392 | $318 | $18 | $94 | $1,022 | $85 |
| Matrix S AWD | $200 | $392 | $318 | $18 | $94 | $1,022 | $85 |
| Matrix XRS 2WD | $200 | $392 | $318 | $18 | $94 | $1,022 | $85 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in Minneapolis location which can raise or lower premium rates noticeably.
Based on this data, we can arrive at the conclusion that using a $250 deductible will cost you approximately $14 more each month or $168 a year than quoting the higher $500 deductible. Since you would have to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to go more than 18 months between claim filings, you would save money going with the higher deductible.
The example below shows how choosing a deductible and can impact Toyota Matrix insurance rates for different categories of driver ages. The data is based on a married male driver, comp and collision included, and no discounts are factored in.
Reckless driving habits raise Minneapolis car insurance rates
The illustration below shows how speeding tickets and at-fault accidents can raise Toyota Matrix insurance rates for different age groups of insureds. The price estimates are based on a married male driver, comp and collision included, $100 deductibles, and no discounts are applied to the premium.
Car insurance is not optional
Even though it can be expensive, maintaining insurance is a good idea for several reasons.
- The majority of states have minimum liability requirements which means it is punishable by state law to not carry a minimum amount of liability insurance in order to license the vehicle. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a lien on your vehicle, almost every bank will force you to have comprehensive coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the lender will be forced to insure your Toyota at a significantly higher premium and force you to pay for the expensive policy.
- Car insurance protects both your assets and your vehicle. It will also cover all forms of medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, also covers legal expenses if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the repair costs.
The benefits of insuring your Matrix greatly outweigh the cost, especially if you ever need it. According to a 2015 survey, the average American driver is currently overpaying as much as $825 a year so it’s recommended you shop around at least once a year to ensure rates are competitive.
Don’t overlook these Toyota Matrix insurance discounts
Insuring your fleet can be pricey, but companies offer discounts that can help lower your rates. Some of these discounts will be visible when you quote, but some may not be applied and must be manually applied before they will apply. If you’re not getting every credit you deserve, you could be saving more on your insurance.
- Driver Education Discount – Require your teen driver to successfully take a driver’s education course as it can save substantially.
- Braking Control Discount – Vehicles that have steering control and anti-lock brakes have fewer accidents so you can save 10 percent or more.
- Theft Deterrent System – Vehicles that have factory alarm systems and tracking devices are stolen less frequently and qualify for as much as a 10% discount.
- Passive Restraints and Air Bags – Vehicles equipped with air bags and/or automatic seat belt systems can get savings of up to 25% or more.
- Smart Student Discounts – Excelling in school could provide a savings of up to 20% or more. Most companies allow this discount up until you turn 25.
- Own a Home and Save – Simply owning a home can get you a discount because it requires a higher level of personal finance.
- Telematics Data – Policyholders that allow their insurance company to analyze where and when they drive remotely like Allstate’s Drivewise could save a few bucks if they exhibit good driving behavior.
A little note about advertised discounts, many deductions do not apply to your bottom line cost. Some only reduce individual premiums such as collision or personal injury protection. Even though it may seem like you can get free auto insurance, company stockholders wouldn’t be very happy.
The example below compares Toyota Matrix insurance rates with and without discounts being applied to the rates. The premiums assume a male driver, no violations or accidents, Minnesota state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, multi-car, claim-free, multi-policy, and homeowner discounts applied.
A list of companies and some of the discounts are included below.
- GEICO offers discounts including multi-vehicle, multi-policy, driver training, seat belt use, good student, and anti-theft.
- MetLife discounts include claim-free, good driver, accident-free, multi-policy, defensive driver, good student
- Progressive has discounts for good student, homeowner, continuous coverage, online quote discount, online signing, and multi-vehicle.
- Travelers policyholders can earn discounts including early quote, multi-policy, good student, save driver, and new car.
- SAFECO may have discounts that include multi-car, accident prevention training, safe driver, homeowner, anti-theft, teen safety rewards, and drive less.
- AAA offers discounts for anti-theft, pay-in-full, AAA membership discount, good driver, multi-policy, and good student.
When quoting, ask all companies you are considering the best way to save money. A few discounts may not apply in your state. To choose providers who offer cheap Toyota Matrix insurance quotes in Minneapolis, click here.
Exclusive versus independent insurance agencies
Some people still prefer to talk to a local agent and that can be a great decision One of the benefits of comparing insurance online is you can get cheap insurance rates and still buy from a local agent.
Upon completion of this form (opens in new window), your coverage information is transmitted to companies in Minneapolis that can give you free Minneapolis auto insurance quotes for your insurance coverage. It’s much easier because you don’t need to contact an agency due to the fact that quote results will go immediately to your email address. You can find better rates AND a local agent. If you wish to compare prices from a specific insurance company, you can always visit that company’s website and give them your coverage information.
Finding the right insurer should depend on more than just a cheap price quote. Ask your prospective agent these questions:
- Is the agent properly licensed in Minnesota?
- Is there any savings for paying the full premium?
- Is there a local claims center in Minneapolis?
- Will the agent or a CSR service your policy?
- How are claims handled?
- Does the agency support the community they serve?
- Who is covered by the car insurance policy?
- Is there a 24/7 contact number?
If you want to buy insurance from a good Minneapolis insurance agent, you must know there are a couple different agency structures that differ in how they can insure your vehicles. Insurance policy providers can be described as either independent or exclusive depending on the company they work for.
Exclusive Insurance Agents
Exclusive agents can only provide pricing for a single company like State Farm, AAA, Farmers Insurance or Allstate. They are unable to compare rates from other companies so you might not find the best rates. Exclusive insurance agents are usually quite knowledgeable in insurance sales and that allows them to sell at a higher price point.
Shown below is a list of exclusive agencies in Minneapolis that can give you price quote information.
Mary Trondson – State Farm Insurance Agent
1215 Lagoon Ave – Minneapolis, MN 55408 – (612) 823-4111 – View Map
State Farm: Ashkan Morvari
25 W Diamond Lake Rd – Minneapolis, MN 55419 – (612) 455-4196 – View Map
Nathan Dao – State Farm Insurance Agent
220 South 6th St #180 – Minneapolis, MN 55402 – (612) 338-6422 – View Map
Independent Agents (or Brokers)
Agents that elect to be independent are not restricted to one company so they can insure your vehicles with multiple insurance companies and find the cheapest insurance rates. If they quote lower rates, they simply move the coverage in-house and you stay with the same agent. When comparing rates, you absolutely need to get some free quotes from at a minimum one independent agency to maximize your price options.
Listed below is a list of independent insurance agencies in Minneapolis that can give you rate quotes.
CBIZ Associated Insurance Agents
2800 Freeway Blvd – Minneapolis, MN 55430 – (763) 549-2200 – View Map
Semlak Miernicki Insurance Agency
2657 Dupont Ave S – Minneapolis, MN 55408 – (612) 208-0873 – View Map
TCF Agency Insurance Services Inc
801 S Marquette Ave – Minneapolis, MN 55402 – (612) 661-8400 – View Map
You are unique and your car insurance should be too
When it comes to choosing insurance from an agent or online, there really isn’t a best way to insure your cars. Everyone’s needs are different.
Here are some questions about coverages that may help you determine if your situation will benefit from professional help.
- What is an umbrella policy?
- Am I covered when driving in Canada or Mexico?
- Should I waive the damage coverage when renting a car?
- How can I force my company to pay a claim?
- How much can I save by bundling my policies?
- Does my policy cover my teen driver if they drive my company car?
- How can I get my company to pay me more for my totaled car?
If you don’t know the answers to these questions, you may need to chat with an agent. If you don’t have a local agent, fill out this quick form.
In conclusion
Lower-priced Toyota Matrix insurance in Minneapolis can be sourced on the web and with local Minneapolis insurance agents, and you should compare rates from both to get a complete price analysis. Some insurance providers may not have price quotes online and usually these regional insurance providers work with local independent agencies.
We covered a lot of techniques to save on Toyota Matrix insurance in Minneapolis. It’s most important to understand that the more times you quote, the better your comparison will be. You may even be surprised to find that the lowest prices are with a lesser-known regional company.
Drivers leave their current company for many reasons like policy cancellation, extreme rates for teen drivers, lack of trust in their agent or even unfair underwriting practices. It doesn’t matter what your reason, finding a new company is not as difficult as it may seem.
How to find low-cost rates for Toyota Matrix insurance in Minneapolis
If your goal is the lowest price, then the best way to find discount auto insurance rates is to compare prices annually from insurance carriers who provide car insurance in Minneapolis. Drivers can shop around by completing these steps.
- Step 1: Learn about auto insurance and the things you can change to lower rates. Many factors that result in higher prices like traffic citations, accidents, and an unacceptable credit score can be amended by making minor driving habit or lifestyle changes.
- Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only quote rates from one company like GEICO and State Farm, while independent agents can provide rate quotes from many different companies. Begin your rate comparison
- Step 3: Compare the new quotes to your current policy and see if you can save money. If you find a better price and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.
- Step 4: Notify your agent or company of your intention to cancel your current auto insurance policy. Submit a completed policy application and payment for the new policy. When you receive it, put the new proof of insurance certificate in an easily accessible location.
One key aspect when comparing rates is to compare the same level of coverage on every price quote and and to look at as many different insurance providers as possible. Doing this guarantees a fair price comparison and a complete price analysis.
More tips and info about insurance is located in the articles below:
- Your Car has been Stolen: Now What? (Allstate)
- How Much is Minneapolis Car Insurance for a Nissan Sentra? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Low Mileage Drivers in Minneapolis? (FAQ)
- How Much are Car Insurance Quotes for a GMC Sierra in Minneapolis? (FAQ)
- Rollover Crash FAQ (iihs.org)
- What to do at the Scene of an Accident (Insurance Information Institute)