Paying for high-priced Mercedes-Benz SLS AMG insurance can overdraw your personal savings and force you to make sacrifices. Shopping your coverage around is a great way to cut your insurance bill. Insurance companies such as GEICO and Progressive all promote huge savings with fancy advertisements and it is difficult to see past the geckos and flying pigs and effectively compare rates to find the best deal.
You should make it a habit to get comparison quotes every six months due to the fact that insurance rates are variable and change quite frequently. Just because you had the best price on SLS AMG insurance on your last policy a different company probably has better rates today. Starting right now, block out anything you think you know about car insurance because you’re about to learn the right way to remove unneeded coverages and save money.
Cut your car insurance rates with discounts
Companies that sell car insurance don’t always advertise every available discount in a way that’s easy to find, so we researched both the well known as well as the least known ways to save on car insurance. If you aren’t receiving every discount possible, you are throwing money away.
- Fewer Miles Equal More Savings – Low mileage vehicles can earn a substantially lower rate.
- Early Switch Discount – Select companies give a discount for signing up before your current expiration date. It’s a savings of about 10%.
- Resident Student – Youth drivers who are attending college without a vehicle on campus can be insured at a reduced rate.
- Claim Free – Good drivers with no accidents pay much less compared to accident-prone drivers.
- Anti-lock Brake Discount – Vehicles equipped with ABS or steering control can reduce accidents and qualify for as much as a 10% discount.
Drivers should understand that some credits don’t apply to all coverage premiums. A few only apply to the price of certain insurance coverages like medical payments or collision. So even though they make it sound like it’s possible to get free car insurance, car insurance companies aren’t that generous.
To see a list of insurance companies with the best car insurance discounts, click this link.
Vehicle Insurance Comparison
Performing a rate comparison can take time and effort if you don’t understand the most efficient way. You can spend your afternoon talking to insurance companies in your area, or you can stay home and use online quotes to get rate comparisons in just a few minutes.
Most of the larger companies belong to a marketplace that allows shoppers to enter their coverage request one time, and at least one company then returns a price quote determined by their information. This saves time by eliminating repetitive form submissions for each company.
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The single downside to doing it this way is that consumers can’t choose which companies you will receive quotes from. So if you want to select from a list of companies to request quotes from, we put together a list of low cost car insurance companies in your area. Click here for list of insurance companies.
It’s up to you how you get prices quotes, just double check that you are using the exact same deductibles and coverage limits on every quote you get. If you enter different limits and deductibles on each one it will be very difficult to decipher which rate is best.
Mercedes-Benz SLS AMG rate determination is complex
Smart consumers have a good feel for some of the elements that come into play when calculating the price you pay for car insurance. Having a good understanding of what influences your rates allows you to make educated decisions that will entitle you to much lower annual insurance costs.
- Teen drivers pay high rates – Mature drivers are more cautious drivers, statistically cause fewer accidents and are safer drivers. Young drivers have a tendency to get distracted easily in a vehicle therefore car insurance rates are much higher.
- More performance means more cost – The performance of the vehicle you are insuring makes a significant difference in the rate you pay. The lowest rates are usually for lower performance four cylinder passenger cars, but other factors influence the final cost greatly. Since the Mercedes-Benz SLS AMG is a luxury sports car, rates will be up to twice as much when compared to the average rates.
- Credit scores impact car insurance rates – A driver’s credit score is a large factor in calculating your car insurance rates. Therefore, if your credit rating is lower than you’d like, you could be paying less to insure your Mercedes-Benz SLS AMG by improving your rating. Drivers who have excellent credit tend to be better drivers and file fewer claims than those with poor credit.
- Claim-free discounts can add up – If you are a frequent claim filer, you can pretty much guarantee either higher rates or even cancellation. Insurance companies give lower rates to people who do not rely on their insurance for small claims. Car insurance is intended for the large, substantial claims.
- Do you work long hours in a high stress job? – Jobs such as lawyers, business owners and stock brokers tend to have the highest rates because of job stress and long work hours. On the other hand, professions such as pilots, students and retirees receive lower rates on SLS AMG insurance.
Save 15 percent in 15 minutes? Is it for real?
Consumers can’t ignore all the ads for car insurance savings by Allstate and Progressive. They all seem to say the same thing about savings after switching to their company.
How can each company claim to save you money? This is how they do it.
All companies can use profiling for the type of driver they prefer to insure. An example of a profitable customer might be profiled as between 30 and 50, has no tickets, and drives less than 7,500 miles a year. Any driver who matches those parameters will get the preferred rates and as a result will probably save quite a bit of money when switching.
Drivers who are not a match for the requirements will be quoted higher prices which usually ends up with the driver buying from a lower-cost company. The ad wording is “customers who switch” not “everyone that quotes” save money. That’s the way insurance companies can make those claims. This emphasizes why drivers must get a wide range of price quotes. You cannot predict which company will have the lowest rates.
Keep this in mind
Throughout this article, we presented many tips how you can save on Mercedes-Benz SLS AMG insurance. The most important thing to understand is the more rate quotes you have, the better chance you’ll have of finding lower rates. Consumers may even find the lowest rates come from an unexpected company. They may cover specific market segments cheaper compared to the large companies like GEICO and State Farm.
Low-cost Mercedes-Benz SLS AMG insurance can be purchased both online as well as from independent agents, and you need to price shop both in order to have the best price selection to choose from. Some car insurance companies don’t offer the ability to get a quote online and many times these small insurance companies only sell through independent insurance agents.
When trying to cut insurance costs, do not skimp on critical coverages to save a buck or two. There have been many situations where someone dropped physical damage coverage only to regret at claim time that they should have had better coverage. The ultimate goal is to purchase a proper amount of coverage at a price you can afford while not skimping on critical coverages.
