How to Insure your Mercedes-Benz ML550 on the Cheap
If finding affordable car insurance was easy, most of us would take the time to do it. But the premiums we pay always seem to be too high and most of use would rather get a tooth pulled. You probably feel the same way when trying to find cheaper coverage for your Mercedes-Benz ML550.
Step One: Shop Around
Up until about ten years ago, the only way to shop for car insurance was in the office of a local insurance agent where you'd get a hard sell into a policy. But you can now comparison shop and buy direct online!
You can now shop all the best car insurance companies and compare rates for a Mercedes-Benz ML550 and you don't even have to visit each individual website!
To find affordable coverage for your Mercedes-Benz ML550, the first step is to click the link below and complete the short form.
Read this (it's important)! When doing any car insurance quote to compare rates to either your existing policy or to other quotes, it's important to use identical coverages on all quotes. Otherwise you will not be able to accurately determine which company has the lowest rate for your ML550.
Step Two: Tried and True Ways to Save on ML550 Insurance
After step one is complete, it's now time to analyze some of the other factors that can negatively impact car insurance rates for a ML550.
- Since your vehicle is higher performance than average, you can expect to pay a little more for coverage. To keep your costs lower, you may consider trading for a lower performance vehicle that has more moderate rates.
- For some reason, car theives target particular makes and models more than others. If your ML550 is on the list of the top stolen cars, you might want to install an extra theft deterrent system just to be safe.
- Repairing accident damage generally costs more for the ML550 because the replacement parts cost more. You can expect your car insurance bill to reflect these higher costs for repair.
- Membership has it's privleges. If you're a member of a professional organization, check to see if your company offers discounts to its members. It can add up to 5% or more.
- An SUV allows you to drive in snow and mud better than your average passenger car, and with that comes a higher risk of having an accident. So expect to pay a little more on car insurance.
- To keep your rates low, don't file excessive claims on your policy. Insurance is meant to cover large losses, not small damage that you can pay for out-of-pocket.
- If you are a renter rather than a homeowner, you might pay a little more to insure your car. Owning a home takes financial repsonsibility and insurance companies reward those policy holders.
- Equipping your Mercedes-Benz with available safety features such as air bags and passive restraints allows you to take advantage of additional discounts.
- Gaps in insurance coverage will cause problems for your insurance rates. Don't let your policy expire without having new coverage in place.
- A single speeding ticket can cost you several hundreds of dollars over the next three years thanks to increased car insurance rates. Slow down and drive safely.
- If your teen driver has completed a driver's education class in school, check to see if your insurance company offers any discounts for this.
- Youthful or teen drivers that are rated on any vehicle will cost more. The inexperience and tendancy to enjoy going fast is a recipe for an accident.
- If you're not sure what your credit rating is, check it now. Car insurance companies use your credit score to determine the rates you pay, so the better your credit, the less you will pay.
- Comprehensive and collision coverages make up the majority of your car insurance bill. If you raise your deductibles, you can will see significant savings with every policy renewal.
Step Three: Purchase a New Policy
Knowing which company to insure your ML550 with is more than just choosing the lowest rate. You also need to be ready to put a down payment on your policy and make sure you have all the proper coverages in place.
You can cancel a policy at any time, but just remember to make the effective date of the replacement policy the exact same as the date you cancel your old policy. You do not want any gaps in coverage between policies.
Before you drive your Mercedes-Benz ML550 home, make sure you have a current car insurance policy in force. Coverage will extend to the new purchase from your policy, but if you don't have a policy then you have no protection. When driving off the lot, you may have coverage that extends from your current policy. But it will only be equal to the most coverage you have on any vehicle. So if you only carry liability coverage, you won't be covered for full coverage until you specify it on your policy.
Once you have purchased your policy, print out the insurance card that must go in your vehicle. This card fulfills the state law requiring you to prove financial responsibility. High risk drivers may be required to submit an SR-22 with their state DMV's. If you have been convicted of reckless driving, DUI or had an uninsured accident, you may qualify. Make sure your new policy reflects the need for the SR-22 filing.
More Resources for Insurance Buying
To read more about filing a claim, choosing replacement parts, rental car insurance and more, visit the Insurance Information Institute.
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