Nobody I know cherishes buying auto insurance, especially knowing their premiums are through the roof.
Insurance companies such as GEICO and Progressive continually bombard you with TV and radio ads and it is challenging if not impossible to not get sucked in by the cute commercials and find the best price available.
If you are paying for car insurance now, you stand a good chance to be able to save some money using these tips. Finding affordable coverage is not that difficult. But drivers do need to understand how the larger insurance companies price insurance differently because it can help you find the best coverage.
Which Auto Insurance is Cheapest?
Comparing auto insurance rates is a ton of work if you don’t understand the fastest way to get free quotes. You could waste a few hours driving to local insurance agents in your area, or you can stay home and use the web to get the quickest rates.
Most of the larger companies are enrolled in a marketplace that allows shoppers to complete one form, and each company can give them a price for coverage. This eliminates the need for quote requests to each individual auto insurance company. To participate in this free quote system, click to open in new window.
The only downside to pricing coverage this way is that consumers can’t choose which providers you want pricing from. If you wish to select individual companies to receive pricing from, we put together a list of the cheapest auto insurance companies in your area. Click here to view list.
It’s up to you which method you use, but make sure you use identical coverage limits on every quote. If your comparisons have higher or lower deductibles you can’t possibly determine the lowest rate for your Maybach 57S. Slightly different coverage limits could mean much higher rates. Keep in mind that comparing a large number of companies will enable you to find the best price.
Take advantage of discounts
Auto insurance companies don’t always advertise all their discounts in a way that’s easy to find, so we researched both the well known and the more hidden savings tricks you should be using.
- Save with a New Car – Insuring a new car can be considerably cheaper due to better safety requirements for new cars.
- Good Student Discount – Getting good grades can get you a discount of up to 25%. Earning this discount can benefit you up until you turn 25.
- Sign Early and Save – Select companies give a discount for switching to them prior to your current policy expiring. It can save you around 10%.
- Memberships – Belonging to certain professional organizations may earn a discount on auto insurance for 57S insurance.
- Accident Forgiveness – A handful of insurance companies permit an accident without raising rates if your claims history is clear prior to the accident.
- Safety Course Discount – Taking part in a course teaching defensive driving skills could save 5% or more if you qualify.
- Student in College – Children who attend school more than 100 miles from home and don’t have a car may be able to be covered for less.
- E-sign – A handful of insurance companies give back up to $50 for buying your policy on their website.
- Own a Home – Being a homeowner may earn you a small savings due to the fact that maintaining a home is proof that your finances are in order.
- Multiple Cars – Insuring all your vehicles on the same auto insurance policy could earn a price break for each car.
As a disclaimer on discounts, most of the big mark downs will not be given to the overall cost of the policy. Most cut specific coverage prices like comp or med pay. So when it seems like all the discounts add up to a free policy, you won’t be that lucky.
For a list of insurers with the best auto insurance discounts, click here.
Why your Maybach 57S insurance rates may be high
It’s important that you understand some of the elements that go into determining auto insurance rates. When you know what positively or negatively influences your rates helps enable you to make changes that may reward you with big savings.
- Little extras can really add up – There are quite a few extra coverages that you can buy when buying auto insurance. Coverages like personal injury protection, towing coverage and motor club memberships are examples of these. These coverages may sound good when you first buy your policy, but if you don’t need them get rid of them and save.
- Please use or commuting – Driving more miles every year the higher your rates will be. Most companies charge to insure your cars based upon how you use the vehicle. Cars and trucks that are left in the garage get more affordable rates compared to those used for work or business. If your policy improperly rates your 57S can cost quite a bit. Verify your auto insurance coverage is rated on the proper vehicle usage.
- Better credit means lower rates – Credit history is a large factor in determining what you pay for auto insurance. Therefore, if your credit is not that good, you could be paying less to insure your Maybach 57S by improving your rating. People with excellent credit tend to be more responsible than drivers with lower credit scores.
- Having a spouse can save you money – Getting married can get you a discount when buying auto insurance. It translates into being more mature and responsible and it’s proven that drivers who are married are more cautious.
- High performance equals high price – The type of vehicle you own makes a significant difference in the rate you pay. The lowest rates are for economy passenger vehicles, but the cost you end up paying is determined by many additional factors. Since the Maybach 57S is a luxury sedan, rates will be more compared to average rates.
- Safer occupants lowers premiums – Cars with high safety ratings can get you lower premiums. The safest vehicles reduce injuries and fewer injuries means lower claim amounts passed on to you as lower rates. If your Maybach 57S scored better than four stars on Safercar.gov or an “acceptable” rating on iihs.org it is probably cheaper to insure.
Are you falling for claims of savings?
State Farm, GEICO and Progressive regularly use ads on TV and radio. All the companies make an identical promise of big savings if you move your policy. How can each company make the same claim?
All companies have a preferred profile for the type of driver that is profitable for them. A good example of a driver they prefer might be profiled as over the age of 40, is a homeowner, and has a short commute. A propective insured who matches those parameters will get very good rates and therefore will save when they switch companies.
Drivers who fall outside this ideal profile will have to pay a higher premium which usually ends up with business not being written. The ads say “customers who switch” not “everyone that quotes” save that kind of money. That’s the way insurance companies can advertise the savings. Because of the profiling, it is so important to get as many quotes as possible. It’s not possible to predict the company that will have the lowest rates.
Quote often and quote early
As you restructure your insurance plan, never reduce coverage to reduce premium. In too many instances, an insured cut collision coverage to discover at claim time that it was a big mistake. The proper strategy is to buy enough coverage at an affordable rate, not the least amount of coverage.
Lower-priced Maybach 57S insurance is possible both online in addition to many insurance agents, so compare prices from both so you have a total pricing picture. Some insurance companies do not provide you the ability to get quotes online and these small, regional companies work with independent agents.
