Free Guide to Lower Mercedes-Benz 500E Insurance Rates
If shopping your car insurance around was fun, we'd do it much more often. But we always seem to pay too much for coverage and most people would rather go to the dentist. Cutting the check for each renewal on your Mercedes-Benz 500E might give you the same feeling.
Step One: Insurance Rate Comparison Quotes
If it's been a few years since you shopped for car insurance, you might still think the only way to buy is from a local agent. Times have changed!
The best car insurance companies offer online quoting for a Mercedes-Benz 500E and it's very easy to compare different rates by only using one form.
To compare rates now, have your current policy handy (if you have one) and click the link below. Complete the short form and move on to step two.
Insurance Quoting Tip! The only way to accurately compare rates bewteen different companies for your 500E is to use identical coverage limits on all the quotes. If you use different liability limits and/or deductibles, you won't have an apples-to-apples rate comparison.
Step Two: Techniques to Lower your 500E Insurance Rates
There are many contributing factors that determine what you pay to insure your Mercedes-Benz. You can help yourself (and your wallet) by paying attention to the following rate factors.
- If you need the extra performance that your Mercedes-Benz 500E gives you, then you'll have to pay extra to insure it. Higher performance cars tend to be more expensive to insure.
- If you have a high credit score, you will be rewarded with lower insurance rates. Conversely, if your credit rating is on the low site, your rates will be higher.
- Owning a luxury vehicle like your 500E means you'll pay a little more for insurance due to the higher cost of repair parts.
- Minor driving violations such as speeding tickets can cause your rates to go up. Too many violations in a short period of time will cause your policy to be non-renewed.
- Being a homeowner can often get you a little discount on your auto insurance. Insuring you home with the same company as your autos can often get you even deeper discounts.
- The easiest way to INCREASE your car insurance rates is to add a teenage driver to your policy. There aren't many ways to prevent a rate increase, but if you can rate them on an older vehicle, it can help.
- Letting your car insurance expire without having new coverage in place is called a "lapse" and will cause your next policy premiums to be higher.
- Small claims that may only exceed your physical damage deductibles by a small amount are better off not being submitted to your company. Just pay the extra hundred dollars or two and keep a claim-free discount on your policy.
- Many insurance companies will give you a small discount if you've recently completed a driver's training course.
- Equipping your Mercedes-Benz with available safety features such as air bags and passive restraints allows you to take advantage of additional discounts.
- If you belong to a professional organization, check to see if that can earn you a discount. If you're over the age of 55, check to see if they have a senior citizen discount as well.
- Vehicle thefts drive up the cost of everyone's insurance, but if your 500E is on the list of the most frequently stolen cars, you might be paying just a little extra.
- Before a comprehensive or collision claim is paid by your company, you have to pay a deductible first. The more you're willing to pay, the lower your rates will be. Consider raising your deductibles to $500 or even $1,000.
Step Three: Finalize your Policy Details
Car insurance is pretty easy to buy online, but you do need to be aware that it is a legally binding contract. You need to have funds available for a down payment as well as review your coverages for any insufficiencies.
It's critical that your new policy starts the same day that your old policy ends. If you are cancelling mid-term, make sure there is no lapse in coverage before your new policy kicks in.
If this is a new policy with only the Mercedes-Benz on it, be sure to have coverage before leaving the dealership or car lot. If you're adding it to an existing policy, you have anywhere from 15 to 30 days depending on the company. If your current policy has any vehicle with full coverage (comprehensive and collision), then your new 500E will have that coverage extended to it. If you only have liability coverage on your policy, then you have no physical damage coverage on your new purchase.
Once your new policy has been purchased, you are required to keep the proof-of-insurance card in your vehicle at all times. This is required by state law and you can receive a citation if you cannot provide it. If an SR-22 is required due to a reckless driving conviction, DUI or conviction of driving without insurance, make sure your new company is aware of that. Not filing a court-ordered SR-22 can result in suspension of your driver's license.
Additional Insurance Information
For more detailed car insurance topics, visit the Insurance Information Institute.
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