Would you like an easy way to compare low-cost Toyota Matrix insurance in Baltimore? Searching for low-cost insurance for a new or used Toyota Matrix in Maryland can turn out to be a painful process, but you can learn a few tricks to make it easier. There are more efficient ways to buy car insurance so we’re going to tell you the proper way to compare rates for a new or used Toyota and locate the lowest price from both online companies and Baltimore agents.
We don’t have to tell you that auto insurance companies don’t want their customers to go rate shopping. Consumers who shop around for better prices are likely to buy a new policy because there is a great chance of finding a policy with better rates. A recent car insurance study revealed that drivers who compared rates regularly saved over $3,450 over four years compared to drivers who don’t make a habit of comparing rates.
If finding the most affordable insurance is your ultimate goal, then learning about how to quote and compare auto insurance can save money and time.
You should make it a habit to get comparison quotes before your next renewal because prices trend upward over time. Just because you found the lowest rates on Toyota Matrix insurance in Baltimore a few years ago you can probably find a better rate quote now. You’ll find quite a bit of inaccurate information about Matrix insurance out there, but we’re going to give you a bunch of ideas how to find affordable car insurance in Baltimore.
Locating the best rates in Baltimore is really quite simple as long as you have a good starting point. If you have coverage now or just want cheaper rates, you can use this information to get lower rates and possibly find even better coverage. Vehicle owners only need to know the quickest way to compare rate quotes from many different companies online.
Cheapest Toyota insurance rate quotes in Baltimore
The companies shown below offer price quotes in Maryland. If you want cheaper auto insurance in Baltimore, MD, we suggest you compare several of them to get the cheapest price.
Coverage information
The coverage information displayed below outlines different coverage prices for Toyota Matrix models. Having insight into how policy rates are calculated can be useful when making decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $266 | $518 | $414 | $24 | $124 | $1,346 | $112 |
| Matrix S 2WD | $304 | $610 | $414 | $24 | $124 | $1,476 | $123 |
| Matrix S AWD | $304 | $610 | $414 | $24 | $124 | $1,476 | $123 |
| Matrix XRS 2WD | $304 | $610 | $414 | $24 | $124 | $1,476 | $123 |
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Table data represents married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Price information does not factor in specific Baltimore garaging location which can decrease or increase rates greatly.
Higher deductibles lower rates
One of the most common auto insurance questions is how high should the physical damage deductibles be. The rates below can help illustrate the costs and benefits of buying low and high deductibles. The first price estimate table uses a $250 comprehensive and collision deductible and the second price table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $274 | $528 | $406 | $24 | $122 | $1,379 | $115 |
| Matrix S 2WD | $314 | $624 | $406 | $24 | $122 | $1,515 | $126 |
| Matrix S AWD | $314 | $624 | $406 | $24 | $122 | $1,515 | $126 |
| Matrix XRS 2WD | $314 | $624 | $406 | $24 | $122 | $1,515 | $126 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $222 | $426 | $406 | $24 | $122 | $1,200 | $100 |
| Matrix S 2WD | $256 | $502 | $406 | $24 | $122 | $1,310 | $109 |
| Matrix S AWD | $256 | $502 | $406 | $24 | $122 | $1,310 | $109 |
| Matrix XRS 2WD | $256 | $502 | $406 | $24 | $122 | $1,310 | $109 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Price estimates do not factor in vehicle garaging location which can revise coverage prices substantially.
Using the premium rates above, we can conclude that using a $250 deductible costs approximately $16 more each month or $192 a year than requesting the higher $500 deductible. Due to the fact that you would have to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you tend to go at least 16 months between claim filings, you would save money by selecting a higher deductible.
The information below demonstrates how deductible levels and can affect Toyota Matrix annual premium costs for each different age group. The prices are based on a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.
Rate comparison of men versus women in Baltimore
The illustration below compares Toyota Matrix auto insurance rates for male and female drivers. The prices are based on no claims, a clean driving record, comprehensive and collision coverage, $500 deductibles, drivers are single, and no discounts are taken into consideration.
How much more does full coverage cost?
The illustration below compares Toyota Matrix auto insurance costs with full physical damage coverage and with liability coverage only. The prices are based on no driving violations, no at-fault accidents, $100 deductibles, drivers are single, and no additional discounts are factored in.
When to stop buying full coverage
There is no specific 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 the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s assume your Toyota Matrix replacement cost is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $7,000 after paying the physical damage deductible. If you are paying more than $700 a year to have full coverage, then you may need to consider dropping full coverage.
There are some cases where dropping physical damage coverage is not financially feasible. If you still owe a portion of the original loan, you have to keep full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should keep full coverage.
Informed Drivers Can Reduce Their Insurance Rates
Many factors are part of the equation when premium rates are determined. Some are pretty understandable like an MVR report, but other factors are not as apparent like your vehicle usage and annual miles driven.
The following are some of the items used by companies to determine rates.
What are your physical damage deductibles? – Physical damage protection, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your Toyota. Some examples of claims that would be covered are a windshield shattered by a rock, hail damage, and rolling your vehicle. Deductibles for physical damage are how much you are required to spend if a covered claim is submitted. The more money the insured is willing to pay, the less your company will charge you for insurance.
Cheaper premiums for prior coverage – Driving any period of time without insurance is a big no-no and companies may charge more for letting your coverage lapse. Not only will you pay higher rates, failure to provide proof of insurance will get you a hefty fine and possibly a revoked license.
Traffic violations will cost you – Even a single speeding ticket or other violation can increase rates substantially. Attentive drivers pay less for auto insurance as compared to careless drivers. Drivers who get multiple violations like DUI or reckless driving might be required by their state to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to continue driving.
The information below shows how violations and fender-benders can influence Toyota Matrix annual premium costs for each age group. The premiums are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied.
Better credit means lower premiums – Having a bad credit rating factor in determining premium rates. If your credit rating leaves room for improvement, you could pay less to insure your Toyota Matrix by improving your rating. Consumers who have excellent credit scores tend to be more responsible as compared to drivers with lower credit ratings.
Eliminate extra policy coverages – Policies have extra coverages that you can buy if you aren’t diligent. Coverage for things like replacement cost coverage, accident forgiveness, and extra life insurance coverage are some examples. These coverages may sound good initially, but your needs may have changed so remove them from your policy.
Reduce prices by staying claim free – Insurance companies in Maryland award better rates to policyholders who do not rely on their insurance for small claims. If you are a frequent claim filer, you can pretty much guarantee higher rates. Your insurance policy is intended for major claims that would cause financial hardship.
Slash rates with these discounts on Toyota Matrix insurance in Baltimore
Car insurance can cost a lot, but you may qualify for discounts that can help lower your rates. Certain discounts will be triggered automatically at the time of purchase, but once in a while a discount must be specifically requested prior to receiving the credit.
- Professional Memberships – Affiliation with a professional or civic organization is a simple method to lower premiums on your next renewal.
- Pay Upfront and Save – By paying your entire bill at once as opposed to paying monthly you could save up to 5%.
- Save over 55 – Older drivers can possibly qualify for better car insurance rates.
- Accident Forgiveness Coverage – This isn’t a discount exactly, but a handful of insurance companies will let one accident slide before raising your premiums so long as you are claim-free prior to being involved in the accident.
- Onboard Data Collection – Insureds who allow driving data collection to study when and where they use their vehicle by installing a telematics device like Drivewise from Allstate or In-Drive from State Farm could possibly reduce rates as long as they are good drivers.
- Student Discounts – Getting good grades can save 20 to 25%. Earning this discount can benefit you until age 25.
- ABS Braking Discount – Cars and trucks that have steering control and anti-lock brakes can reduce accidents so companies give up to a 10% discount.
- Discounts for New Vehicles – Buying insurance coverage on a new vehicle can save up to 30% because newer vehicles have to meet stringent safety requirements.
- Theft Deterrent System – Vehicles that have factory anti-theft systems have a lower chance of being stolen and therefore earn up to a 10% discount.
We need to note that many deductions do not apply to all coverage premiums. Most only reduce the cost of specific coverages such as comprehensive or collision. Just because you may think all those discounts means the company will pay you, you won’t be that lucky.
The information below illustrates the difference between Toyota Matrix insurance rates with and without discounts applied to the rates. The data assumes a female driver, no tickets, no at-fault accidents, Maryland 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 marriage, homeowner, multi-car, claim-free, safe-driver, and multi-policy discounts applied.
A list of companies and a summarized list of policyholder discounts are detailed below.
- Farm Bureau offers discounts including good student, youthful driver, multi-policy, multi-vehicle, and renewal discount.
- Liberty Mutual has savings for multi-car, new graduate, preferred payment discount, newly married, safety features, exclusive group savings, and teen driver discount.
- State Farm includes discounts for safe vehicle, passive restraint, multiple autos, defensive driving training, Steer Clear safe driver discount, Drive Safe & Save, and good driver.
- Auto-Owners Insurance may have discounts that include anti-lock brakes, mature driver, group or association, student away at school, paperless, company car, and air bags.
- GEICO offers premium reductions for air bags, federal employee, driver training, good student, emergency military deployment, and multi-policy.
- SAFECO policyholders can earn discounts including teen safety rewards, anti-theft, teen safe driver, accident prevention training, homeowner, bundle discounts, and safe driver.
If you need lower rates, check with all companies you are considering to give you their best rates. Depending on the company, some discounts might not be available to policyholders everywhere. To choose insurers who offer online Toyota Matrix insurance quotes in Baltimore, click here to view.
You may need help from an insurance agent
Some people prefer to talk to an insurance agent and that is just fine! Professional agents can point out coverage gaps and help you file claims. The biggest benefit of comparing rates online is that drivers can save money and get lower premium rates and still choose a local agent.
Upon completion of this short form, the quote information is instantly submitted to local insurance agents in Baltimore who will give competitive quotes for your car insurance coverage. It’s much easier because you don’t need to visit any agencies because prices are sent immediately to you. If you want to compare rates from one company in particular, feel free to go to their quote page and complete a quote there.
Picking the best insurance company shouldn’t rely on just a cheap quote. Any agent in Baltimore should be forthright in answering these questions:
- Will one accident increase rates?
- How long has their agency been open in Baltimore?
- Which companies can they place coverage with?
- Do they write coverage based solely on cost?
- When do they do policy reviews?
- Are they properly licensed to sell insurance in Maryland?
- Do the agents have professional certifications like CPCU or CIC?
Insurance agent types
When researching a good Baltimore insurance agent, it can be helpful to understand the types of insurance agents and how they are distinctly different. Car insurance agents can be classified as either independent or exclusive depending on the company they work for. Both types of agents can sell and service car insurance coverage, but it is a good idea to know the difference in how they write coverage because it may have an impact on your agent selection.
Exclusive Agencies
Agents that choose to be exclusive can only quote rates from one company and some examples include American Family, State Farm, and Allstate. These agents are not able to place coverage with different providers so keep that in mind. These agents receive extensive training on their products and sales techniques which helps them compete with independent agents. Some people will only buy from the same agent for years mostly because of the brand legacy and the convenience of having a single billing for all their coverages.
Listed below is a short list of exclusive insurance agents in Baltimore willing to provide rate quotes.
- Aja Green – State Farm Insurance Agent
7635 Belair Rd – Baltimore, MD 21236 – (410) 882-9433 – View Map - John Stein – State Farm Insurance Agent
6630 Baltimore National Pike #100b – Baltimore, MD 21228 – (410) 744-7733 – View Map - Tamara Thomson – State Farm Insurance Agent
7823 Wise Ave – Baltimore, MD 21222 – (410) 282-7283 – View Map
Independent Agents
These type of agents are not limited to a single company so they can insure your vehicles with many different companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, they can switch companies in-house without you having to go to a different agency.
If you are comparing car insurance prices, we recommend you compare prices from at least one independent agent for maximum quote selection. Most have the option of insuring with different regional companies who may have lower rates.
Listed below are independent insurance agencies in Baltimore willing to provide price quotes.
- Baltimore Insurance Network
11 E Lexington St – Baltimore, MD 21202 – (443) 869-6424 – View Map - Nationwide Insurance: Robert Frank Stastny
6822 Harford Rd – Baltimore, MD 21234 – (410) 254-1500 – View Map - Maryland Auto Insurance (the new MAIF)
1215 E Fort Ave #300 – Baltimore, MD 21230 – (800) 492-7120 – View Map
Find cheap insurance rates by comparing often
When you buy Baltimore auto insurance online, it’s a bad idea to buy less coverage just to save a little money. There are too many instances where someone dropped liability limits or collision coverage to discover at claim time that their decision to reduce coverage ended up costing them more. The ultimate goal is to purchase a proper amount of coverage at a price you can afford, not the least amount of coverage.
People leave their current company for a variety of reasons including being labeled a high risk driver, delays in responding to claim requests, policy non-renewal and even unfair underwriting practices. It doesn’t matter what your reason, choosing a new company is not as difficult as it may seem.
We covered some good ideas how to reduce Toyota Matrix insurance premium rates online in Baltimore. The key concept to understand is the more times you quote, the better likelihood of getting affordable Baltimore auto insurance quotes. Consumers could even find that the most savings is with a company that doesn’t do a lot of advertising.
Steps to buying lower priced Toyota Matrix insurance in Baltimore
If you want to save the most money, the best way to find lower priced Toyota Matrix insurance in Baltimore is to compare prices at least once a year from companies in Maryland. This can be done by following these steps.
- First, read about individual coverages and the measures you can control to keep rates in check. Many things that increase rates like multiple speeding tickets and a negative credit history can be amended by paying attention to minor details.
- Second, quote rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only provide price estimates from a single company like GEICO or Allstate, while agents who are independent can quote rates for a wide range of companies.
- Third, compare the new rate quotes to your current policy premium to determine if you can save on Matrix insurance in Baltimore. If you find better rates and switch companies, verify that coverage does not lapse between policies.
- Fourth, give notification to your current company to cancel your current policy. Submit the signed application along with the required initial payment for the new policy. As soon as coverage is bound, place your new certificate verifying coverage in your glove compartment.
A good piece of advice is to make sure you’re comparing the same physical damage deductibles and liability limits on each quote request and and to get quotes from every insurance company. Doing this ensures the most accurate price comparison and a complete selection of prices.
More learning opportunities
- Booster Seat Ratings (iihs.org)
- Who Has Affordable Auto Insurance for Drivers with Accidents in Baltimore? (FAQ)
- Who Has Cheap Car Insurance for a Honda Accord in Baltimore? (FAQ)
- Who Has Cheap Auto Insurance Rates for 18 Year Olds in Baltimore? (FAQ)
- What Insurance is Cheapest for a Honda Civic in Baltimore? (FAQ)
- Who Has Cheap Baltimore Auto Insurance Quotes for High Risk Drivers? (FAQ)
- How Much are Baltimore Auto Insurance Quotes for Drivers with a DUI? (FAQ)
- Five Mistakes to Avoid (Insurance Information Institute)
- Tread Depth and Tire Safety (State Farm)