Auto Insurance Rates for a Toyota Matrix in Oklahoma City

A study showed that most auto insurance policyholders have bought auto insurance from the same company for at least the last four years, and almost 40% of drivers have never even compared quotes to find affordable rates. Most drivers in Oklahoma City can save up to $550 each year just by comparing rates, but they don’t know the amount of savings they would get if they changed companies.

If you want to find the absolute lowest rates, then the best way to find cheaper prices for car insurance rates is to do an annual price comparison from providers that insure vehicles in Oklahoma City.

First, try to understand how companies price auto insurance and the steps you can take to lower rates. Many factors that cause high rates such as inattentive driving and a lousy credit rating can be improved by paying attention to minor details. Later in this article we will cover information to help keep prices low and find available discounts that you may qualify for.

Second, get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only provide price estimates from one company like GEICO and State Farm, while independent agencies can quote rates for a wide range of insurance providers.

Third, compare the new rate quotes to the premium of your current policy to see if cheaper Matrix coverage is available. If you find a lower rate, make sure there is no lapse between the expiration of your current policy and the new one.

Fourth, give notification to your agent or company of your intent to cancel your current coverage and submit the required down payment along with the signed application to your new insurance company. As soon as you receive it, keep your new proof of insurance certificate in an easily accessible location.

An important bit of advice to remember is to use the same physical damage deductibles and liability limits on each quote request and to quote with as many companies as you can. Doing this provides an apples-to-apples comparison and a thorough selection of prices.

Best Toyota Matrix insurance rate quotes in Oklahoma

The following companies can provide quotes in Oklahoma. If the list has multiple companies, we suggest you click on several of them to get the cheapest price.

Toyota Matrix insurance rates and statistics

The price information below covers a range of prices for Toyota Matrix models. Learning as much as possible about how auto insurance policy rates are calculated can help you make smart policy decisions.

Cost estimates assume married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, homeowner, and multi-vehicle. Estimates do not factor in the specific area where the vehicle is garaged which can influence rates considerably.

Choosing deductibles

When buying auto insurance, a common question is where to set your physical damage deductibles. The comparison tables below may help to illustrate the premium difference between high and low policy deductibles. The first set of rates uses a $250 physical damage coverage deductible and the second pricing table uses a $1,000 deductible.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Rate quotes do not factor in Oklahoma City location which can impact insurance rates considerably.

Based on these figures, using a $250 deductible would cost the average driver about $33 more each month or $396 for a full year than requesting the higher $1,000 deductible. Due to the fact that you would have to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you average more than 23 months between claim filings, you would probably come out ahead if you choose the higher deductible.

One thing to be aware of is that raising deductibles means you will have to cover more of the damage yourself when you have a comprehensive or collision claim. That will require some funds available in the event you have to pay more to get your vehicle repaired.

Impact of careless driving on Oklahoma City auto insurance rates

The chart below illustrates how speeding tickets and accidents can influence Toyota Matrix premium costs for different insured age categories. The data assumes a single male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.

Comparison of auto insurance rates by gender and age in Oklahoma City

The illustration below illustrates the comparison of Toyota Matrix premium costs for male and female drivers. The prices are based on no violations or accidents, comprehensive and collision coverage, $500 deductibles, drivers are not married, and no policy discounts are applied.

Full coverage versus liability-only in Oklahoma City

The chart below illustrates the difference between Toyota Matrix auto insurance costs when comparing full coverage to state minimum liability only. The price estimates are based on a clean driving record, no claims, $1,000 deductibles, drivers are not married, and no discounts are taken into consideration.

Guidelines for dropping full coverage

There is no set rule for eliminating comp and collision coverage, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.

For example, let’s say your Toyota Matrix book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $8,000 after paying your deductible. If it’s costing you more than $800 a year for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.

There are a few situations where removing full coverage is not advised. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.

Insurance Price Influencing Factors

Consumers need to have an understanding of the different types of things that help determine car insurance rates. When you know what positively or negatively controls the rates you pay, this enables informed choices that will entitle you to big savings. Multiple criteria are taken into consideration when pricing auto insurance. Some are pretty understandable such as traffic violations, although others are less obvious like where you live or your vehicle rating.

The list below includes a few of the things that factor into your rates.

Policy add-ons add up – There are quite a few extra add-on coverages that may not really be needed if you aren’t careful. Things like coverage for rental cars, accidental death, and motor club memberships may not be needed and are just wasting money. You may think they are a good idea initially, but now you might not need them so eliminate them to save money.

Costs go up with performance – The performance level of the vehicle you need insurance for makes a big difference in the rate you pay. The lowest base rates are for the lowest performance passenger cars, but there are many factors that impact the final cost.

The data below is based on a married female driver age 50, full coverage with $100 deductibles, and no discounts or violations. The chart compares Toyota Matrix rates compared to other models of vehicles that have different performance risks.

Frequent insurance claims will increase rates – Companies in Oklahoma award most affordable rates to policyholders who are claim-free. If you’re an insured who likes to file claims you can look forward to much higher rates or policy non-renewal. Your car insurance is meant to be used in the event of major claims that would cause financial hardship.

Multiple policies with one company can save – Most major insurers will give better rates for people who carry more than one policy. It’s known as a multi-policy discount. Even if you already get this discount, you may still want to shop around to help guarantee you have the best rates.

City traffic equals higher prices – Being located in areas with lower population has it’s advantages when insuring your vehicles. People who live in big cities have to deal with congested traffic and much longer commute distances. Fewer people translates into fewer accidents and a lower car theft rate.

Fewer miles means better costs – Driving a lot of miles every year the more you will pay for car insurance. The majority of insurers calculate rates based on their usage. Autos left parked in the garage receive lower rates compared to those used for work or business. Having an incorrect usage rating on your Matrix may be wasting your money. It’s a smart idea to ensure your policy states the correct usage for each vehicle.

High credit means lower premiums – Having a bad credit history will be a significant factor in determining your rates. Therefore, if your credit rating can be improved, you could potentially save money when insuring your Toyota Matrix if you clean up your credit. Drivers who have high credit scores tend to be better drivers and file fewer claims than drivers with bad credit.

Determine discounts on Oklahoma City car insurance

Companies offering auto insurance do not advertise every discount available very clearly, so the list below contains both the well known and also the lesser-known credits available to lower your premiums when you buy Oklahoma City auto insurance online.

• Good Student – Maintaining excellent grades can get you a discount of up to 25%. This discount can apply until age 25.
• No Claim Discounts – Claim-free drivers are rewarded with significantly better rates on Oklahoma City auto insurance quote in comparison with insureds who have frequent claims or accidents.
• Distant Student Discount – Children who live away from home to go to college and leave their car at home could qualify for this discount.
• Telematics Discount – Insureds that choose to allow driving data collection to study driving patterns by installing a telematics device such as State Farm’s In-Drive might get better premium rates if they exhibit good driving behavior.
• Defensive Driver Discount – Taking a defensive driving course could save 5% or more and also improve your driving technique.
• Early Signing – A few companies offer discounts for switching policies prior to your current Matrix insurance policy expiring. It’s a savings of about 10%.

Keep in mind that most credits do not apply to the overall cost of the policy. Most cut specific coverage prices like liability, collision or medical payments. So even though they make it sound like you could get a free car insurance policy, that’s just not realistic.

The information below shows the comparison of Toyota Matrix insurance premiums with and without discounts applied to the premium. The data assumes a female driver, no claims or driving citations, Oklahoma state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, multi-policy, homeowner, claim-free, and multi-car discounts applied.

Popular car insurance companies and the discounts they provide are shown below.

• 21st Century discounts include theft prevention, defensive driver, anti-lock brakes, 55 and older, homeowners, early bird, and driver training.
• Progressive includes discounts for multi-policy, multi-vehicle, homeowner, good student, online signing, and continuous coverage.
• State Farm may offer discounts for defensive driving training, Drive Safe & Save, student away at school, multiple autos, and accident-free.
• Nationwide offers premium reductions for Farm Bureau membership, multi-policy, business or organization, easy pay, accident-free, family plan, and defensive driving.
• Esurance policyholders can earn discounts including paid-in-full, anti-theft, multi-policy, good driver, and Switch & Save.
• The Hartford has savings for driver training, anti-theft, air bag, defensive driver, and good student.

When getting a coverage quote, ask each company which credits you are entitled to. A few discounts might not be offered in Oklahoma City.

Local Oklahoma City insurance agents and insurance

Certain consumers would rather go talk to an agent and often times that is recommended A nice benefit of getting free rate quotes online is that you can obtain cheaper premium rates and still choose a local agent. Putting coverage with local agents is definitely important in Oklahoma City.

To make it easy to find an agent, after completing this simple form, your information is submitted to agents in your area that give free quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to find an agent on your own due to the fact that quote results will go to the email address you provide. You can find the lowest rates without the usual hassles of price shopping. If you need to compare prices from one company in particular, you would need to navigate to their website and submit a quote form there.

If you are wanting to find a reliable insurance agent, it’s important to understand the types of agencies to choose from. Insurance agents in Oklahoma City are considered either independent agents or exclusive agents depending on their employer.

Independent Agents

Agents of this type are not limited to a single company so they have the ability to put coverage with lots of companies and potentially find a lower price. If you are not satisfied with one company, your agent can switch companies and you stay with the same agent. When comparing insurance rates, you should always check rates from several independent agencies to ensure the widest selection of prices.

Below is a partial list of independent insurance agents in Oklahoma City that may be able to give you cheap rate quotes.

More insurance agents

Exclusive Insurance Agents

Agents that choose to be exclusive can only provide one company’s prices such as Farmers Insurance, State Farm, or Allstate. These agents are unable to shop your coverage around so if the price isn’t competitive there isn’t much they can do. These agents receive a lot of sales training on their company’s products which helps overcome the inability to quote other rates.

Shown below are exclusive insurance agencies in Oklahoma City that can give you price quotes.

More insurance agents

Picking an car insurance agent is decision based upon more than just the premium amount. Any agent in Oklahoma City should be willing to answer these questions.

• Do you need full coverage on every vehicle?
• Can they give you a list of client referrals?
• Are they properly licensed to sell insurance in Oklahoma?
• How much training do they have in personal risk management?
• Do they have a Better Business Bureau rating in Oklahoma City?
• Does the quote include credit and driving reports?

If you feel you receive satisfactory answers to any questions you may have as well as a price you’re happy with, chances are good that you have found an insurance agency that is reliable enough to insure your vehicles. Keep in mind it’s your policy and you can terminate coverage when you choose so don’t feel that you’re stuck with the insurance policy for the full policy term.

Affordable coverage is out there

You just learned quite a bit of information on how to get a better price on Toyota Matrix insurance in Oklahoma City. It’s most important to understand that the more price quotes you have, the higher your chance of finding affordable Oklahoma City auto insurance quotes. You may even be surprised to find that the lowest priced car insurance comes from the least-expected company. Some small companies may have significantly lower premium rates on certain market segments than the large multi-state companies such as State Farm or Progressive.

A few companies don’t offer the ability to get quotes online and many times these regional insurance providers provide coverage only through independent agents. Low-cost Toyota Matrix insurance in Oklahoma City is attainable both online and also from your neighborhood Oklahoma City agents, so you should be comparing quotes from both in order to have the best price selection to choose from.

When shopping online for car insurance, do not buy lower coverage limits just to save a few bucks. There have been many cases where drivers have reduced liability coverage limits only to regret at claim time that the savings was not a smart move. Your focus should be to purchase plenty of coverage at a price you can afford, not the least amount of coverage.

For more information, feel free to visit these articles:

• Event Data Recorders FAQ (iihs.org)
• Who Has Cheap Oklahoma City Car Insurance Quotes for a Company Car? (FAQ)
• Who Has Cheap Car Insurance for High Mileage Drivers in Oklahoma City? (FAQ)
• How Much are Car Insurance Rates for a Learners Permit in Oklahoma City? (FAQ)
• Who Has Affordable Oklahoma City Car Insurance Rates for a Ford Fusion? (FAQ)
• Five Tips to Save on Auto Insurance (Insurance Information Institute)
• Rental Car Insurance Tips (Insurance Information Institute)
• Protecting Teens from Drunk Driving (Insurance Information Institute)