Affordable Rate Quotes for Toyota Matrix Insurance in Plano

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A recent NerdWallet.com study revealed that the vast majority of drivers have purchased from the same company for at least the last four years, and approximately 40% of consumers have never taken the time to shop around. Plano insurance shoppers could save up to $1,800 each year just by getting comparison quotes, but they just don't understand how much money they would save if they replace their high priced policy.

Insurance rates Toyota Matrix in PlanoThe preferred way to find the cheapest price for Toyota Matrix insurance is to start comparing prices yearly from insurance carriers that sell auto insurance in Plano. Prices can be compared by completing these steps.

  • Step 1: Get an understanding of the coverage provided by your policy and the modifications you can make to keep rates down. Many rating factors that result in higher rates such as at-fault accidents, careless driving, and your credit history can be remedied by making minor changes in your lifestyle. Keep reading for instructions to help keep prices low and get bigger discounts.
  • Step 2: Compare price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like GEICO or State Farm, while independent agencies can provide rate quotes from many different companies.
  • Step 3: Compare the quotes to your current policy to see if a cheaper price is available. If you find a lower rate, verify that coverage does not lapse between policies.

One key aspect when comparing rates is to use the same deductibles and limits on every quote and and to get rate quotes from as many companies as feasibly possible. This guarantees an accurate price comparison and the best price selection.

Pricing the best auto insurance in Plano is quite easy. If you're already insured or are just looking to switch companies, use these money-saving tips to reduce premiums without reducing protection. Consumers only have to learn the quickest way to compare prices online from multiple companies.

The auto insurance companies shown below offer price quotes in Texas. If your goal is to find cheap car insurance in Texas, we recommend you visit several of them to get a more complete price comparison.

Analysis of Toyota Matrix rates

The rate table below outlines different coverage prices for Toyota Matrix models. Being aware of how car insurance premiums are calculated can be of help when making smart buying decisions.

Toyota Matrix Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $180 $392 $400 $24 $120 $1,116 $93
Matrix S 2WD $206 $462 $400 $24 $120 $1,212 $101
Matrix S AWD $206 $462 $400 $24 $120 $1,212 $101
Matrix XRS 2WD $206 $462 $400 $24 $120 $1,212 $101
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Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Estimates do not factor in your specific Plano location which can raise or lower coverage prices greatly.

Policy deductible comparison

One common question asked by Plano drivers is how high should the physical damage deductibles be. The tables below help summarize the price difference between high and low coverage deductibles. The first set of rates uses a $250 physical damage deductible and the second rate chart uses a $500 deductible.

Toyota Matrix insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $256 $496 $382 $22 $114 $1,295 $108
Matrix S 2WD $294 $584 $382 $22 $114 $1,421 $118
Matrix S AWD $294 $584 $382 $22 $114 $1,421 $118
Matrix XRS 2WD $294 $584 $382 $22 $114 $1,421 $118
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Toyota Matrix insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Matrix 2WD $208 $400 $382 $22 $114 $1,126 $94
Matrix S 2WD $240 $472 $382 $22 $114 $1,230 $103
Matrix S AWD $240 $472 $382 $22 $114 $1,230 $103
Matrix XRS 2WD $240 $472 $382 $22 $114 $1,230 $103
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Price information does not factor in specific location which can decrease or increase premium rates noticeably.

Based on this data, using a $250 deductible could cost the average driver approximately $15 more each month or $180 a year than opting for the higher $500 deductible. Because you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you average at least 17 months between claim filings, you would probably come out ahead if you opt for a higher deductible.

Calculate deductible break even point

Average monthly premium for $250 deductibles: $116
Average monthly premium for $500 deductibles (subtract): - $101
Monthly savings from raising deductible: $15
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $15
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 17 months

An important thing to remember is that raising deductibles results in a higher out-of-pocket expense at claim time. That will force you to have some funds available in the event you need to pay the higher deductible.

The illustration below shows how choosing a deductible and can influence Toyota Matrix insurance prices for each different age group. The premiums are based on a married male driver, full coverage, and no policy discounts are applied.

Toyota Matrix liability rates compared to full coverage

The chart below illustrates the difference between Toyota Matrix car insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on no claims, a clean driving record, $250 deductibles, marital status is single, and no other discounts are factored in.

When to drop comp and collision

There is no definitive guideline that works best for making the decision to drop full coverage, but there is a guideline you can consider. If the annual cost of having full coverage is about 10% or more of any settlement you would receive from your insurance company, then it's probably a good time to buy liability coverage only.

For example, let's assume your Toyota Matrix book value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $8,000 after you pay the deductible. If it's costing in excess of $800 annually for comprehensive and collision coverage, then it might be time to buy liability only.

There are a few situations where only buying liability is not advised. If you still have a lienholder on your title, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not buy liability only.

Get cheaper Toyota Matrix insurance in Plano with discounts

Some insurers do not list every policy discount very well, so we break down both the well known and the harder-to-find credits that may apply to you.Save money with discounts

  • Seat Belt Discounts - Drivers who require all vehicle occupants to use their safety belts could cut 10% or more on the premium charged for medical payments and/or PIP.
  • One Accident Forgiven - Not a discount per se, but companies like Progressive, Allstate, and GEICO permit an accident before they charge you more for coverage if you are claim-free for a certain period of time.
  • Defensive Driver Discount - Participating in a defensive driver course could cut 5% off your bill and make you a better driver.
  • E-sign Discounts - A few larger online companies will give you a small discount get Plano auto insurance on your computer.
  • Employee of Federal Government - Having worked for a branch of the government can save as much as 8% with some car insurance companies.
  • College Student - Youth drivers who live away from home at college and do not have a car may be insured at a cheaper rate.
  • Active Service Discounts - Having a deployed family member could be rewarded with lower car insurance rates.
  • Own a Home and Save - Simply owning a home can earn you a little savings because of the fact that having a home means you have a higher level of financial diligence.

It's important to understand that most credits do not apply to the whole policy. Most only apply to specific coverage prices like liability, collision or medical payments. So even though it sounds like adding up those discounts means a free policy, you aren't that lucky.

The illustration below illustrates the comparison of Toyota Matrix insurance costs with and without discounts being applied to the rates. The data is based on a male driver, no claims, a clean driving record, Texas state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, claim-free, safe-driver, multi-car, and multi-policy discounts applied.

Companies that may include these discounts are:

When quoting, ask each company which discounts they offer. A few discounts might not be offered in every state. If you would like to view insurance companies who offer discounts in Texas, follow this link.

Three good reasons to insure your Toyota Matrix

Even though it can be expensive, insurance is a good idea for several reasons.

First, most states have minimum mandated liability insurance limits which means state laws require specific minimum amounts of liability if you don't want to risk a ticket. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if your car has a lienholder, almost all lenders will make it a condition of the loan that you buy full coverage to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank may buy a policy for your Toyota at a much higher premium rate and force you to reimburse them for the much more expensive policy.

Third, insurance safeguards not only your Toyota but also your financial assets. It will also provide coverage for medical transport and hospital expenses for not only you but also any passengers injured in an accident. Liability coverage also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to repair the damage.

The benefits of having insurance are definitely more than the cost, particularly for liability claims. On average, a vehicle owner in Plano overpays as much as $869 every year so you should quote your policy with other companies once a year at a minimum to save money.

Situations that may require an agent's advice

Keep in mind that when it comes to choosing coverage online or from an agent for your vehicles, there isn't really a cookie cutter policy. Coverage needs to be tailored to your specific needs and a cookie cutter policy won't apply.Auto insurance savings Here are some questions about coverages that can help discover if your insurance needs may require specific advice.

  • Can I cancel at any time?
  • Do I need replacement cost coverage?
  • Is there coverage for my trailer?
  • Who sells insurance for high-risk drivers?
  • Do I need PIP (personal injury protection) coverage in Texas?
  • What policy terms are available?
  • Why am I required to buy liability insurance?
  • Should I have a commercial auto policy?
  • Exactly who is provided coverage by my policy?

If you can't answer these questions, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It's fast, free and can provide invaluable advice.

Insurance agent or online?

A lot of people prefer to get professional advice from a licensed agent and often times that is recommended Agents can help you build your policy and help in the event of a claim. An additional benefit of getting free rate quotes online is you may find cheap auto insurance quotes and still have an agent to talk to. And providing support for local insurance agents is definitely important in Plano.

Find insurance agent in PlanoUpon completion of this short form, the coverage information is transmitted to local insurance agents in Plano who can give free rate quotes for your insurance coverage. You won't even need to find an agent because prices are sent straight to your inbox. If you want to compare rates for a specific company, feel free to go to their quote page and give them your coverage information.

Pick the best car insurance agent in Plano for you

When researching local Plano agents, you must know there are a couple types of agencies that differ in how they can insure your vehicles. Auto insurance agents in Plano can be categorized as either independent or exclusive depending on the company they work for. Either type can do a good job, but it's worth mentioning the difference in the companies they write for because it can influence your agent selection.

Independent Auto Insurance Agencies or Brokers

Independent insurance agents are not restricted to one company and that enables them to quote your coverage with a variety of different insurance companies and get the cheapest rates. If they find a cheaper price, your agent can just switch to a different company without you having to go to a different agency.

When shopping rates, it's a good idea to include price quotes from a few independent agents so that you have a good selection of quotes to compare.

Featured below is a list of independent agencies in Plano who may provide free auto insurance quotes.


6305 Preston Rd Suite 1000 - Plano, TX 75024 - (972) 473-4813 - View Map


3275 Independence Pkwy - Plano, TX 75075 - (972) 519-5435 - View Map


704 E 15th St #205 - Plano, TX 75074 - (972) 424-2993 - View Map

View more Plano agents

Exclusive Auto Insurance Agencies

These type of agents can only write with one company such as Allstate, Farmers Insurance or State Farm. They generally cannot shop your coverage around so they have no alternatives for high prices. They receive extensive training on what they offer which helps them compete with independent agents.

Listed below are exclusive agents in Plano that are able to give rate quotes.


2415 Coit Rd d - Plano, TX 75075 - (972) 769-8800 - View Map


9720 Coit Rd #140 - Plano, TX 75025 - (214) 618-5700 - View Map


3308 Preston Rd #300 - Plano, TX 75093 - (972) 758-1111 - View Map

View more Plano agents

Finding a good car insurance agent requires more thought than just a low price. These are valid questions to ask:

  • How long has the business existed?
  • Will the agent or a CSR service your policy?
  • Are there any discounts that you might be missing?
  • Are they full-time agents?
  • Which insurance companies are they affiliated with?
  • Do they have designations such as AIC, CPCU, or CIC?
  • Are all drivers listed on the coverage quote?