Three Steps to Cheaper Mercedes-Benz SLR McLaren Insurance
If comparing car insurance was easy, most of us would do it more often. But we always seem to pay too much for coverage and most people would rather go to the dentist. Buying insurance on your Mercedes-Benz SLR McLaren might leave you feeling the same way.
Step One: Compare Multiple Rates
If you haven't priced insurance for awhile, you may still think that the only way to compare rates is to drive around town to multiple insurance offices and meet with an agent. Times have changed!
All the major car insurance companies sell insurance for a Mercedes-Benz SLR McLaren and you don't even have to visit each individual website!
To begin, click on the link below and complete the short form. It only takes a few minutes and it's helpful to have your current policy handy if you have one.
Apples-to-Apples! When doing comparison quotes for your SLR McLaren, it's very important that you use the same liability limits and physical damage deductibles on each quote. Otherwise you will not be able to accurately determine which company has the lowest rates.
Step Two: Techniques to Lower your SLR McLaren Insurance Rates
After completing step one above, you can now learn some of the other ways to slash your SLR McLaren insurance costs.
- You can definitely expect to pay a little more for insurance due to the performance level of your Mercedes-Benz SLR McLaren. Vehicles with less power and speed tend to cost less 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.
- OEM repair parts for the SLR McLaren cost more due to the higher quality. You will pay more for insurance because of this.
- Higher deductibles save money. If you can afford to pay a larger portion of a comprehensive or collision claim, you will pay substantially less for those coverages if you increase your deductibles to $500 or even $1,000.
- Due to the sporty nature of the SLR McLaren, expect to pay a little more to insure it. Sport cars have higher rates than passenger vehicles due to the increased acceleration and tendancy of the drivers to use it.
- Smaller claims that hardly exceed your deductible are better off not being filed with your insurance company. Policyholders with no claims enjoy lower rates than those who frequently file claims.
- If you're over the age of 55, check to see if you qualify for a senior citizen discount. Qualification age may vary by company
- If you think the only financial impact of a speeding ticket is a fine and court costs, think again. Insurance companies will raise your rates for up to three years for a single ticket.
- The time it takes to complete a driver's safety training course could be time well spent. It could save you up to 10% off your car insurance rates.
- Allowing your insurance to lapse for any length of time will increase the cost of a new policy. Always keep coverage in force.
- Air bags, antilock brakes, traction control, and stability control all help lower the cost of insurance due to reducing the risk of injury in an accident.
- Insurance companies pay attention to which vehicles are stolen the most, so if your car is frequently targeted by thieves, chances are good you will pay more for insurance if you live in certain parts of the country.
- Every parent dreads the day when their teenager gets added to their policy. If you are a teenager, or if you have one on your policy, expect to pay significantly more each year.
- If you rent rather than own a home, you may be paying more for car insurance. Homeowners often get lower rates.
Step Three: Make an Informed Buying Decision
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.
On your new policy, double check that the effective date is the same as the date you are cancelling your old policy. This avoids any lapse in coverage which can cause an increase in your rates.
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. Most car insurance companies will extend coverage to newly purchased vehicles, but only up to the limits of the best insured vehicle. So if you only carry liability insurance and no physical damage coverage, your new purchase will be inadequately insured until you specifically add it to the policy with full coverage.
Be sure to replace any old proof-of-insurance cards in your car. You must always have the current card in your vehicle as required by state law. If you qualilfy as a high-risk driver after being convicted of a DUI, reckless driving or driving on a suspended license, you may be required to file an SR-22 with your state's DMV. Be sure your new car insurance company is aware of this filing requirement.
Additional Learning Resources
For more information on car insurance topics like the claims process, rental car insurance and how much coverage you need, visit the Insurance Information Institute website.
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