Overpriced Mercedes-Benz S550 insurance can overdraw your bank account and put the squeeze on your family’s finances. Doing a price comparison is a smart way to make sure you’re not throwing money away. Because you have many car insurance companies to choose from, it can be diffult for consumers to find the most cost effective insurer.
How to Compare Car Insurance Costs
Getting better Mercedes-Benz S550 car insurance pricing is actually quite simple. Consumers just need to invest a little time to get quotes online from several insurance companies. This is very easy and can be done in just a few minutes using one of these methods.
- The fastest way to get quotes is to use a rate comparison form click to view form in new window. This easy form prevents you from having to do separate quotation requests for each company. Taking the time to complete one form will get you rate comparisons .
- A slightly less efficient method to get comparison quotes requires a trip to each company’s website to complete their respective quote request forms. For instance, we’ll pretend you want to compare Allstate, 21st Century and GMAC. You would have to take the time to go to each site to enter your coverage information, which is why the first method is more popular. For a list of links to insurance companies in your area, click here.
It’s up to you which method you use, but double check that you are using exactly the same coverage limits for each comparison quote. If your comparisons have differing limits it’s impossible to decipher which rate is best.
How much can you save with discounts?
Car insurance is not cheap, but discounts can save money and there are some available that many people don’t even know exist. A few discounts will automatically apply when you quote, but some may not be applied and must be asked for before being credited. If they aren’t giving you every credit possible, you’re paying more than you need to.
- Good Student – A discount for being a good student can be rewarded with saving of up to 25%. Earning this discount can benefit you well after school through age 25.
- Federal Employees – Employees or retirees of the government can save as much as 8% for S550 coverage with a few car insurance companies.
- Multiple Policy Discount – When you combine your home and auto insurance with one insurance company you will save 10% to 20% off each policy.
- Safety Course Discount – Taking a defensive driving course can save you 5% or more if your company offers it.
- Homeowners Savings – Owning a house can save you money because maintaining a house shows financial diligence.
- No Accidents – Drivers who don’t have accidents pay less compared to drivers who are more careless.
- Distant Student – Kids in college who are attending college and do not have a car can be insured at a reduced rate.
Keep in mind that many deductions do not apply the the whole policy. Most only cut specific coverage prices like collision or personal injury protection. Just because you may think you can get free auto insurance, it doesn’t quite work that way. Any qualifying discounts will bring down your overall premium however.
For a list of providers with discount car insurance rates, click this link.
Mercedes-Benz S550 insurance rates can be determined by these details
Consumers need to have an understanding of the different types of things that help determine your car insurance rates. 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.
The following are some of the factors companies use to determine prices.
- Safer cars cost less to insure – Cars with high safety ratings get lower rates. The safest vehicles protect occupants better and lower injury rates translates into savings for insurance companies and thus lower rates. If your Mercedes-Benz S550 has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.
- Liability coverage is cheap – Your policy’s liability coverage provides coverage in the event that a jury decides you are liable for damages from an accident. Liability insurance provides you with a defense in court which can be incredibly expensive. Liability is cheap as compared to coverage for physical damage, so drivers should carry high limits.
- Teen drivers pay high rates – Young drivers are statistically proven to get distracted easily when driving so they pay higher car insurance rates. Adding a young driver to your policy can be quite pricey. More mature drivers are more responsible, file fewer claims and get fewer tickets.
- Poor credit can mean higher rates – Credit score is a huge factor in calculating your car insurance rates. If your credit is lower than you’d like, you could potentially save money when insuring your Mercedes-Benz S550 by repairing your credit. Consumers who have high credit ratings tend to be less risk to insure than those with poor credit.
How much car insurance do I need?
When choosing the best car insurance coverage for your personal vehicles, there really is not a cookie cutter policy. Each situation is unique so this has to be addressed. For example, these questions may help highlight if your insurance needs could use an agent’s help.
- How much liability do I need to cover my assets?
- Is my babysitter covered when using my vehicle?
- Why does it cost so much to insure a teen driver?
- What discounts do I qualify for?
- Is a new car covered when I drive it off the dealer lot?
- What is covered by UM/UIM coverage?
- What is the difference between comprehensive and collision coverage?
- What are the financial responsibility laws in my state?
- Why am I required to get a high-risk car insurance policy?
If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It’s fast, free and you can get the answers you need.
The fine print in car insurance ads
Consumers constantly see and hear ads for car insurance savings from companies such as Progressive, Allstate and GEICO. All the ads have a common claim about savings after switching your policy.
How does each company make almost identical claims?
Insurance companies are able to cherry pick for the driver that makes them money. For example, a profitable customer might be profiled as between the ages of 30 and 50, has no prior claims, and drives less than 10,000 miles a year. A customer getting a price quote that hits that “sweet spot” gets the lowest rates and therefore will save when they switch companies.
Consumers who are not a match for the requirements will be quoted higher prices and ends up with business going elsewhere. Company advertisements say “customers who switch” but not “drivers who get quotes” save money. That is how insurance companies can claim big savings.
This emphasizes why you should quote coverage with many companies. It is impossible to predict which company will have the lowest rates.
Smart consumers save more
You just read a lot of information how to lower your Mercedes-Benz S550 insurance rates. The key concept to understand is the more rate comparisons you have, the better your comparison will be. Drivers may discover the biggest savings come from a lesser-known regional company. Smaller companies may often insure only within specific states and give getter rates compared to the large companies like State Farm and Allstate.
Low-cost Mercedes-Benz S550 insurance is possible online and with local insurance agents, and you need to price shop both in order to have the best chance of saving money. Some car insurance companies do not offer the ability to get a quote online and most of the time these smaller companies sell through independent agents.
As you go through the steps to switch your coverage, don’t be tempted to sacrifice coverage to reduce premiums. In too many instances, someone sacrificed comprehensive coverage or liability limits and discovered at claim time they didn’t purchase enough coverage. Your focus should be to find the BEST coverage for the lowest price.
