The most effective way to get cheaper Toyota Matrix insurance in Anchorage is to start comparing prices regularly from companies who sell insurance in Alaska.
- Step 1: Try to understand how insurance works and the things you can change to keep rates in check. Many policy risk factors that result in higher prices such as getting speeding tickets and an unacceptable credit score can be controlled by making minor driving habit or lifestyle changes.
- Step 2: Compare price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can give quotes from one company like Progressive or State Farm, while agents who are independent can quote prices for many different companies.
- Step 3: Compare the new rate quotes to your existing policy to see if a cheaper rate is available. If you can save some money and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Step 4: Give notification to your current company of your intention to cancel your current car insurance policy. Submit payment and a completed application for the new policy. Make sure you safely store the certificate verifying coverage in an accessible location in your vehicle.
The key aspect of shopping around is to make sure you enter the same liability limits and deductibles on each quote request and and to look at as many companies as feasibly possible. Doing this enables the most accurate price comparison and the most accurate and complete price analysis.
It’s a fact that insurance companies want to keep you from comparing prices. People who shop around annually are likely to buy a different policy because the odds are good of finding a lower-priced policy. A recent auto insurance study discovered that consumers who compared rate quotes regularly saved $850 each year as compared to drivers who never shopped around for lower prices.
If saving money on insurance in Anchorage is the reason you’re reading this, knowing how to compare auto insurance can save time and make the process easier.
Quoting and buying affordable policy in Anchorage is easy if you know what you’re doing. Nearly anyone who comparison shops for car insurance will most likely find lower prices. But Alaska drivers need to have an understanding of the way insurance companies calculate their prices because it can help you find the best coverage.
The fastest way that we advise to compare car insurance company rates for Toyota Matrix insurance in Anchorage utilizes the fact almost all companies have advanced systems to provide you with a free rate quote. All consumers are required to do is provide a little information including your job, which vehicles you own, types of safety features, and coverage limits. That information gets transmitted to many different companies and you receive quotes with very little delay.
If you would like to compare rates now, click here then complete the form.
The companies in the list below can provide price quotes in Alaska. To find cheaper car insurance in AK, it’s a good idea that you get rate quotes from several of them to get the best price comparison.
Car insurance is an important decision
Even though Anchorage Matrix insurance rates can get expensive, car insurance is a good idea for several reasons.
First, just about all states have compulsory liability insurance requirements which means you are required to carry a specific minimum amount of liability protection in order to drive the car. In Alaska these limits are 50/100/25 which means you must have $50,000 of bodily injury coverage per person, $100,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you have a lien on your Toyota Matrix, it’s most likely the lender will make it mandatory that you have full coverage to ensure loan repayment if the vehicle is totaled. If you do not keep the policy in force, the bank or lender will purchase a policy for your Toyota at an extremely high rate and force you to pay a much higher amount than you were paying before.
Third, car insurance protects both your assets and your car. It also can pay for most medical and hospital costs for you, any passengers, and anyone injured in an accident. Liability coverage will also pay attorney fees if you are named as a defendant in an auto accident. If your Toyota gets damaged, comprehensive and collision coverage will cover the repair costs.
The benefits of carrying enough insurance definitely exceed the price paid, especially when you need to use it. An average driver in America is overpaying more than $830 a year so it’s important to compare rates at least once a year to be sure current rates are still competitive.
Analysis of coverages
The rate information displayed below showcases different coverage prices for Toyota Matrix models. Learning how prices are established can help customers make smart choices when selecting a coverage provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $158 | $364 | $308 | $18 | $92 | $940 | $78 |
| Matrix S 2WD | $180 | $430 | $308 | $18 | $92 | $1,028 | $86 |
| Matrix S AWD | $180 | $430 | $308 | $18 | $92 | $1,028 | $86 |
| Matrix XRS 2WD | $180 | $430 | $308 | $18 | $92 | $1,028 | $86 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Alaska minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Estimates do not factor in garaging location in Anchorage which can decrease or increase prices significantly.
Higher deductibles save money
The hardest decision when buying coverage is where should you set your physical damage deductibles. The following tables lay out the cost difference between low and high insurance deductibles. The first pricing table uses a $250 deductible and the second set of prices uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $184 | $354 | $272 | $16 | $82 | $933 | $78 |
| Matrix S 2WD | $210 | $418 | $272 | $16 | $82 | $1,023 | $85 |
| Matrix S AWD | $210 | $418 | $272 | $16 | $82 | $1,023 | $85 |
| Matrix XRS 2WD | $210 | $418 | $272 | $16 | $82 | $1,023 | $85 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $148 | $286 | $272 | $16 | $82 | $804 | $67 |
| Matrix S 2WD | $170 | $336 | $272 | $16 | $82 | $876 | $73 |
| Matrix S AWD | $170 | $336 | $272 | $16 | $82 | $876 | $73 |
| Matrix XRS 2WD | $170 | $336 | $272 | $16 | $82 | $876 | $73 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Premium amounts do not factor in specific location which can impact prices noticeably.
Based on this data, we can arrive at the conclusion that using a $250 deductible will cost you roughly $11 more each month or $132 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 normally go more than 23 months between claim filings, you would most likely save money going with the higher deductible. Here is the way you can come to your own conclusion.
| Average monthly premium for $250 deductibles: | $83 |
| Average monthly premium for $500 deductibles (subtract): | – $72 |
| Monthly savings from raising deductible: | $11 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $11 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 23 months |
An important thing to remember is that increasing deductibles to save money means you will have to cover more of the damage yourself when you have a physical damage claim. You need to have some extra funds in the event you have to pay the deductible for vehicle repair.
Lower rates by qualifying for discounts
Insurance can cost an arm and a leg, but you might be missing out on some discounts that you may not even know about. Most are applied at the time of purchase, but a few must be asked for in order for you to get them.
- Defensive Driver – Passing a course teaching safe driver skills could cut 5% off your bill and easily pay for the cost of the class.
- College Student – Children who attend college more than 100 miles from Anchorage and won’t have access to an insured vehicle could get you a discount.
- ABS and Traction Control Discounts – Vehicles with ABS braking systems or traction control are much safer to drive and therefore earn up to a 10% discount.
- Military Discounts – Being on active duty in the military could be rewarded with lower rates.
- Cautious Driver Discounts – Accident-free drivers can get discounts for up to 45% lower rates than drivers with accidents.
- Accident Waiver – This one isn’t a discount, but companies like Liberty Mutual and GEICO allow you one accident before raising your premiums if your claims history is clear for a particular time prior to the accident.
- Sign Early and Save – A few auto insurance companies give discounts for buying a new policy before your current Matrix insurance policy expires. This discount can save up to 10%.
- Accident-Free Discounts – Drivers with accident-free driving histories can earn big discounts when compared to bad drivers.
- Good Student Discount – Getting good grades can save 20 to 25%. The discount lasts up to age 25.
- Auto/Life Discount – Insurance carriers who offer life insurance give better auto insurance rates if you take out some life insurance too.
Discounts lower rates, but most credits do not apply to all coverage premiums. A few only apply to the price of certain insurance coverages like medical payments or collision. Even though the math looks like all those discounts means the company will pay you, you aren’t that lucky.
The illustration below illustrates the comparison of Toyota Matrix insurance prices with and without discounts being applied to the rates. Data assumes a female driver, no claims or driving violations, Alaska 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, multi-policy, homeowner, safe-driver, claim-free, and multi-car discounts applied.
To see a list of insurers that have a full spectrum of discounts in Anchorage, click here to view.
Are insurance agents of importance?
A lot of people still prefer to buy from a local agent and there is nothing wrong with that. One of the great benefits of comparing rates online is you can get cheaper premium rates and still have an agent to talk to. Buying from and supporting neighborhood insurance agencies is especially important in Anchorage.
After completing this form (opens in new window), the coverage information is transmitted to local insurance agents who will gladly provide quotes and help you find cheaper coverage. You never need to search for an agent as quotes are delivered immediately to your email address. You can find the lowest rates without requiring a lot of work. If you need to get a comparison quote for a specific company, you just need to navigate to their website and complete a quote there.
What type of Anchorage car insurance agent is right for you?
When looking for a good Anchorage insurance agent, there are a couple of types of agencies and how they can write your policy. Insurance agents in Anchorage can be described as either exclusive or independent (non-exclusive).
Independent Agents
Independent agents often have many company appointments and that is an advantage because they can write policies amongst many companies enabling the ability to shop coverage around. If you want to switch companies, they simply move the coverage in-house without you having to go to a different agency. When comparing insurance rates, we recommend you check rates from several independent insurance agents to maximize your price options. Most also have access to small regional insurance companies that may have much lower rates than larger companies.
Listed below is a small list of independent agencies in Anchorage who can help you get free insurance rate quotes.
- Dewar Insurance Agency
205 E Benson Blvd – Anchorage, AK 99503 – (907) 258-8888 – View Map - Integrity Insurance Agency
1505 W 34th Ave – Anchorage, AK 99503 – (844) 878-0258 – View Map - Randall Moss Insurance
2960 C St #200 – Anchorage, AK 99503 – (907) 562-6224 – View Map
Exclusive Insurance Agents
Exclusive insurance agents can only quote rates from one company such as Allstate, State Farm and Farm Bureau. They generally cannot place coverage with different providers so you need to shop around if the rates are high. Exclusive agents are very knowledgeable on their company’s products and that allows them to sell at a higher price point. Consumers often buy from the same agent for years mostly because of the brand name rather than having low rates.
Below are exclusive agents in Anchorage willing to provide comparison quotes.
- Lisa Sanders – State Farm Insurance Agent
8427 Laviento Dr #201 – Anchorage, AK 99515 – (907) 344-0506 – View Map - Bill Evans – State Farm Insurance Agent
805 Gambell St – Anchorage, AK 99501 – (907) 276-2424 – View Map - State Farm: Todd Jackson
1330 Huffman Rd Suite E – Anchorage, AK 99515 – (907) 345-0214 – View Map
Picking the best auto insurance agent requires more thought than just the quoted price. These questions are important to ask:
- Which insurance companies are they affiliated with?
- Which insurance company do they prefer to write with?
- Are there any discounts for paying up front?
- How are claims handled?
- Do they have any clout with companies to ensure a fair claim settlement?
- Is the agency covered by Errors and Omissions coverage?
- Do they get extra compensation for selling add-on coverages?
Your situation helps dictate your coverage
When it comes to insurance from an agent or online for your personal vehicles, there is no single plan that fits everyone. Your financial needs are unique.
Here are some questions about coverages that can aid in determining if your situation could use an agent’s help.
- Can I afford low physical damage deductibles?
- Should I have combined single limit or split liability limits?
- Is my business laptop covered if it gets stolen from my vehicle?
- Will my insurance pay for OEM parts?
- Why do I only qualify for high-risk insurance?
- Is a fancy paint job covered?
- Can I cancel at any time?
- What is the premium to book value ratio for dropping full coverage?
- Can my babysitter drive my car?
If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. If you don’t have a local agent, take a second and complete this form.
What is the best auto insurance company in Anchorage?
Selecting the top auto insurance company is difficult considering how many companies are available to choose from in Alaska. The company information shown below can help you choose which car insurance providers to look at when comparing rate quotes.
Top 10 Anchorage Car Insurance Companies Ranked by Customer Service
- State Farm
- GEICO
- The Hartford
- Progressive
- The General
- Allstate
- American Family
- AAA Insurance
- Liberty Mutual
- Farmers Insurance
Top 10 Anchorage Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 94%
- AAA Insurance – 91%
- State Farm – 90%
- GEICO – 89%
- The Hartford – 89%
- The General – 88%
- 21st Century – 88%
- Allstate – 88%
- Liberty Mutual – 88%
- Esurance – 87%
What is YOUR best insurance company?
You just learned a lot of ways to compare Toyota Matrix insurance rates in Anchorage. The key thing to remember is the more quotes you get, the better likelihood of getting affordable Anchorage car insurance quotes. You may even find the biggest savings come from a small mutual company.
When searching for affordable Toyota Matrix insurance quotes, never buy poor coverage just to save money. There are a lot of situations where an accident victim reduced physical damage coverage and found out when filing a claim that it was a big mistake. The ultimate goal is to purchase plenty of coverage at the lowest possible cost and still be able to protect your assets.
Insureds switch companies for a variety of reasons including poor customer service, denial of a claim, policy non-renewal and policy cancellation. It doesn’t matter why you want to switch switching auto insurance companies is less work than it seems.
More tips and info about auto insurance is available in these articles:
- State Car Insurance Guides (GEICO)
- Who Has the Cheapest Car Insurance Rates for Drivers Under 21 in Anchorage? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Drivers with Bad Credit in Anchorage? (FAQ)
- How Much are Car Insurance Rates for Single Moms in Anchorage? (FAQ)
- How Much is Anchorage Auto Insurance for Hybrid Vehicles? (FAQ)
- How Much is Car Insurance for Inexperienced Drivers in Anchorage? (FAQ)
- How Much are Anchorage Auto Insurance Quotes for High Mileage Drivers? (FAQ)
- Who Has the Cheapest Auto Insurance for Teenagers in Anchorage? (FAQ)
- Older Drivers FAQ (iihs.org)
- Prom Night Tips for Teen Drivers (State Farm)
- Child Safety Seats (Insurance Information Institute)
- Get the Right Protection (InsureUonline.org)