If saving the most money is your goal, then the best way to save on Toyota Matrix insurance in New Orleans is to make a habit of comparing prices annually from insurance carriers in Louisiana. Price quotes can be compared by following these steps.
- First, try to understand what coverages are included in your policy and the things you can control to prevent rate increases. Many rating criteria that are responsible for high rates like at-fault accidents, careless driving, and a negative credit score can be rectified by improving your driving habits or financial responsibility. Read the full article for additional ideas to prevent expensive rate increases and earn a bigger discount.
- Second, compare rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like Progressive and State Farm, while agents who are independent can provide price quotes from multiple sources.
- Third, compare the new rates to your current policy premium and see if there is a cheaper rate. If you can save some money and change companies, make sure coverage is continuous and does not lapse.
- Fourth, provide proper notification to your current company to cancel the current policy and submit a completed policy application and payment for your new policy. Once received, safely store the proof of insurance certificate in your vehicle.
The most important part of shopping around is to try to use identical coverages on every quote and and to compare as many different insurance providers as possible. This enables an accurate price comparison and a complete price analysis.
It goes without saying that insurance companies don’t want policyholders to shop around. People who compare other rates will most likely buy a new policy because there is a great chance of finding a cheaper policy. Surprisingly, a recent survey revealed that people who routinely shopped for cheaper coverage saved an average of $850 each year compared to those who never shopped around for better prices.
If finding discount rates on insurance is why you’re reading this, then having a good understanding the best ways to find and compare car insurance can make it easier to find better rates.
If you have coverage now or are looking for a new policy, you can use these tips to get lower rates without reducing coverage. Finding affordable car insurance coverage in New Orleans is quite easy. Drivers just need to use the most effective way to get comparison quotes from multiple carriers.
Lower-cost New Orleans car insurance quotes with discounts
Some insurers do not list all discounts in a way that’s easy to find, so the below list has both the well known and also the lesser-known credits that you can use to lower your rates.
- Full Payment Discount – If paying your policy premium upfront as opposed to paying monthly you could save 5% or more.
- Federal Employees – Active or former government employment may reduce rates when you quote New Orleans car insurance depending on your car insurance provider.
- Anti-lock Brakes – Vehicles with anti-lock braking systems are safer to drive and qualify for as much as a 10% discount.
- Auto/Home Discount – If you can bundle your homeowners and auto insurance with the same company you will save up to 20% off your total Matrix insurance premium.
- Senior Discount – Mature drivers are able to get reduced rates.
- Safe Driver Discount – Insureds without accidents could pay up to 40% less compared to accident prone drivers.
Just know that some credits don’t apply to the overall cost of the policy. A few only apply to individual premiums such as collision or personal injury protection. If you do the math and it seems like adding up those discounts means a free policy, companies wouldn’t make money that way.
The diagram below compares Toyota Matrix annual premium costs with and without some available policy discounts. The rates are based on a male driver, no violations or claims, Louisiana 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 claim-free, safe-driver, marriage, multi-car, homeowner, and multi-policy discounts applied.
To see insurers with discount rates in Louisiana, click this link.
Finding low cost New Orleans auto insurance rates is a fairly straight forward process. All that’s required is to spend a few minutes on the computer comparing rates to find the company with inexpensive New Orleans car insurance quotes.
It’s so fast and easy to compare price quotes online that it makes it a waste of time to drive around to local New Orleans insurance agencies. The fact that you can get quotes online eliminates the middleman unless you want the advice and guidance only provided by licensed New Orleans agents. It is possible to comparison shop online but purchase the actual policy in an agency.
The companies shown below can provide price comparisons in New Orleans, LA. To get cheaper car insurance in New Orleans, we recommend you visit as many as you can to find the most competitive car insurance rates.
Toyota Matrix insurance coverage information
The table displayed next outlines detailed analysis of insurance premium costs for Toyota Matrix models. Having a good understanding how rate quotes are established can help guide drivers when making decisions when choosing a new policy provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $300 | $744 | $524 | $32 | $158 | $1,758 | $147 |
| Matrix S 2WD | $344 | $876 | $524 | $32 | $158 | $1,934 | $161 |
| Matrix S AWD | $344 | $876 | $524 | $32 | $158 | $1,934 | $161 |
| Matrix XRS 2WD | $344 | $876 | $524 | $32 | $158 | $1,934 | $161 |
| Get Your Own Custom Quote Go | |||||||
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Louisiana minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Rate information does not factor in specific garaging location which can increase or decrease price quotes noticeably.
Physical damage deductible comparison
One frequently asked question is at what level do you set your deductibles. The comparisons below can help you understand the price difference between high and low deductibles. The first rate comparisons uses a $100 comprehensive and collision deductible and the second set of prices uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $348 | $722 | $464 | $28 | $140 | $1,727 | $144 |
| Matrix S 2WD | $400 | $850 | $464 | $28 | $140 | $1,907 | $159 |
| Matrix S AWD | $400 | $850 | $464 | $28 | $140 | $1,907 | $159 |
| Matrix XRS 2WD | $400 | $850 | $464 | $28 | $140 | $1,907 | $159 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $194 | $380 | $464 | $28 | $140 | $1,206 | $101 |
| Matrix S 2WD | $222 | $448 | $464 | $28 | $140 | $1,302 | $109 |
| Matrix S AWD | $222 | $448 | $464 | $28 | $140 | $1,302 | $109 |
| Matrix XRS 2WD | $222 | $448 | $464 | $28 | $140 | $1,302 | $109 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Louisiana minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Rate information does not factor in specific garaging location which can raise or lower auto insurance rates substantially.
Using the premium rates above, we can conclude that using a $100 deductible could cost the average driver approximately $48 more each month or $576 each year than requesting the higher $1,000 deductible. Because you would be required to pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to average more than 19 months between claims, you would save money by going with a higher deductible. Below is the way you can decide this on your own policy.
| Average monthly premium for $100 deductibles: | $155 |
| Average monthly premium for $1,000 deductibles (subtract): | – $107 |
| Monthly savings from raising deductible: | $48 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $48 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 19 months |
Difference between liability only and full coverage rates
The information below illustrates the comparison of Toyota Matrix insurance rates with full coverage and liability only. The rates are based on no claims or driving citations, $250 deductibles, single marital status, and no discounts are applied.
When to drop comprehensive and collision
There is no written rule to delete full coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is 10% or more of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let’s pretend your Toyota Matrix settlement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company will settle for is $7,000 after you pay the deductible. If premiums are more than $700 annually to have full coverage, then you might want to consider buying only liability coverage.
There are a few situations where dropping physical damage coverage is not in your best interest. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should maintain full coverage.
When to get professional advice
When buying insurance from an agent or online, there really is no “perfect” insurance plan. Every insured’s situation is different so your insurance needs to address that.
Here are some questions about coverages that may help highlight if your insurance needs might need an agent’s assistance.
- Do I need motorclub coverage?
- Am I covered if I break a side mirror?
- Should I pay a claim out-of-pocket?
- Where can I get insurance after a DUI in Louisiana?
- Am I covered while delivering pizza?
- Am I covered if hit by an uninsured driver?
- What does UM/UIM cover?
If you don’t know the answers to these questions but you think they might apply to your situation, you might consider talking to an agent. To find an agent in your area, complete this form or click here for a list of car insurance companies in your area. It’s fast, free and can provide invaluable advice.
Auto insurance agents near you
Certain consumers prefer to visit with an insurance agent and that is just fine! Agents are trained to spot inefficiencies and help file insurance claims. An additional benefit of getting online price quotes is that you can obtain lower rates and still have a local agent. And buying from local agents is definitely important in New Orleans.
To make it easy to find an agent, after completing this form (opens in new window), the coverage information is instantly submitted to companies in New Orleans that can provide free New Orleans car insurance quotes and help you find cheaper coverage. It’s much easier because you don’t need to find an agent on your own as quotes are delivered to your email. If you want to get a comparison quote from a specific auto insurance provider, you would need to go to their quote page and complete a quote there.
The different types of auto insurance agents
When looking for a good insurance agency, it can be helpful to understand the different agency structures and how they work. Agencies in New Orleans may be either independent or exclusive depending on the company they work for. Both types of agents can write policy coverage, but it’s important to know the difference between them since it can affect buying decisions.
Independent Auto Insurance Agents
Independent insurance agents are not employed by any specific company and that is an advantage because they can write policies with many different companies depending on which coverage is best. If they find a cheaper price, your policy is moved internally which is easy for the insured. If you are comparing auto insurance prices, it’s a good idea to include a few independent agents so that you can do a thorough price comparison.
Listed below is a list of independent agents in New Orleans who may provide free auto insurance quotes.
Lovecchio Insurance
1510 Robert E Lee Blvd – New Orleans, LA 70122 – (504) 284-7778 – View Map
Whitney Insurance Agency
650 Poydras St Suite 1500 – New Orleans, LA 70130 – (504) 581-5353 – View Map
Mid-City Auto Title and Insurance
3328 Bienville St # A – New Orleans, LA 70119 – (504) 827-1845 – View Map
Exclusive Agents
Agents that choose to be exclusive generally can only insure with one company and examples are Allstate, State Farm and Farmers Insurance. Exclusive agents cannot shop your coverage around so they have no alternatives for high prices. Exclusive agents are well schooled on what they offer and that allows them to sell at a higher price point.
Below are exclusive insurance agencies in New Orleans willing to provide comparison quotes.
Alan Jackson – State Farm Insurance Agent
7045 Read Blvd Ste 108 – New Orleans, LA 70127 – (504) 241-6799 – View Map
Allstate Insurance: Paul Scaffidi
720 Harrison Ave c – New Orleans, LA 70124 – (504) 822-8007 – View Map
Reggie Glass – State Farm Insurance Agent
3800 Elysian Fields Ave – New Orleans, LA 70122 – (504) 944-4444 – View Map
Finding the right insurance agent is decision based upon more than just the bottom line cost. Any agent in New Orleans should have no problem answering these questions:
- If you raise deductibles, how much can you save?
- Does the agency support the community they serve?
- Do they get extra compensation for selling add-on coverages?
- If you are a high risk driver, do they have special markets for your coverage?
- If they are an independent agency in New Orleans, which companies do they recommend?
- Do they make recommendations based only on price?
- If your car is totaled, how to they determine the replacement cost?
- Can you choose the body shop in case repairs are needed?
Cover all your bases
When buying insurance coverage, make sure you don’t reduce needed coverages to save money. In too many instances, someone sacrificed liability coverage limits only to find out that it was a big mistake. Your objective should be to find the BEST coverage at the best possible price but still have enough coverage for asset protection.
You just learned some good ideas how you can save on Toyota Matrix insurance in New Orleans. It’s most important to understand that the more you quote New Orleans car insurance, the better chance you’ll have of finding affordable Toyota Matrix insurance quotes. You may even find the best price on car insurance is with a lesser-known regional company. These companies can often insure niche markets at a lower cost compared to the large companies like State Farm or Progressive.
More articles
- Car Insurance: When not to Skimp (BankRate.com)
- How Much are Auto Insurance Quotes for Uninsured Drivers in New Orleans? (FAQ)
- What Auto Insurance is Cheapest for Police Officers in New Orleans? (FAQ)
- Tools for Teen Driving Safety (State Farm)
- Drunk Driving Statistics (Insurance Information Institute)
- Help Your Teen Be a Better Driver (State Farm)
- Vehicle Safety Ratings (iihs.org)