Having to pay for overpriced Mercedes-Benz S55 AMG insurance can overdraw your checking account, especially in this economy. Doing a price comparison is a smart way to help make ends meet. Many insurers compete to insure your vehicles, and it can be difficult to compare rates to discover the definitive best rate
If you have a policy now or need new coverage, you can use this information to cut your premiums while maximizing coverage. Buying car insurance is easy if you know what you’re doing. Drivers only need an understanding of the best way to shop for auto insurance over the internet.
Lower rates by qualifying for these six discounts
Car insurance can cost a lot, but there are discounts available to reduce the price significantly. Some discounts apply automatically at the time of purchase, but a few must be specifically requested in order for you to get them. If you don’t get every credit you deserve, you’re paying more than you need to.
- Discount for Good Grades – Getting good grades can be rewarded with saving of up to 25%. The good student discount can last up to age 25.
- Early Switch Discount – Select companies give a discount for switching to them before your current policy expires. It’s a savings of about 10%.
- Drive Less and Save – Fewer annual miles on your Mercedes-Benz could qualify for lower rates on the low mileage vehicles.
- Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and earn discounts up to 10%.
- Driver Safety – Completing a defensive driving course could cut 5% off your bill if your company offers it.
- Homeowners Discount – Owning a home may earn you a small savings because maintaining a house requires personal responsibility.
As a disclaimer on discounts, some credits don’t apply to the overall cost of the policy. Some only apply to specific coverage prices like liability, collision or medical payments. So even though they make it sound like all those discounts means the company will pay you, companies don’t profit that way. But all discounts will cut your overall premium however.
To see a list of insurance companies who offer auto insurance discounts, click here.
Are insurance agents obsolete?
Some consumers would prefer to visit with an insurance agent and there is nothing wrong with that. Professional agents are trained to spot inefficiencies and help file insurance claims. The biggest benefit of comparing rates online is you can get better rates and still have an agent to talk to. Buying from local agencies is important particularly if you live in a smaller city or town.
To find an agent, once you fill out this form (opens in new window), the quote information is immediately sent to insurance agents who will battle for your insurance coverage. You never need to visit any agencies as quotes are delivered straight to your inbox.
Independent or Captive: It’s your choice
When looking for an insurance agent, you need to know there are two different agency structures from which to choose. Insurance agencies are categorized either independent (non-captive) or captive. Both types can do a good job, but it’s important to know how they differ because it can impact your selection of an agent.
Independent Agents (or Brokers)
Independent insurance agents do not work for one specific company so they can insure your vehicles with multiple insurance companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, the business is moved internally and you won’t have to switch agencies. When searching for an agent, it’s recommended you include price quotes from several independent insurance agents to have the most options to choose from.
Agency Captives
These agents can only write with one company and some examples include Allstate, Farmers Insurance or State Farm. They are unable to provide prices from multiple companies so it’s a take it or leave it situation. Captive agencies receive extensive training on their products and sales techniques which can be an advantage.
To view a full list of insurance agents, click here.
Deciding on an insurance agency requires more thought than just a cheap price. These are valid questions to ask:
- What insurance companies do they work with?
- Is vehicle mileage a factor when determining depreciation for repairs?
- Who are their largest clients?
- Is working in the agency their full-time job?
- Are they properly licensed to sell insurance in your state?
- Did they already check your driving record and credit reports?
- Which company do they place the most coverage with?
- Do the coverages you’re quoting properly cover your vehicle?
After receiving good answers to these questions and an affordable coverage quote, you may have just found an insurance agency that can properly insure your vehicles. Keep in mind once you purchase a policy you can cancel a policy at any point so don’t think you are locked into a specific agent with no way out.
Auto insurance coverages 101
Understanding the coverages of auto insurance aids in choosing which coverages you need and the correct deductibles and limits. Auto insurance terms can be impossible to understand and coverage can change by endorsement. Below you’ll find the normal coverages available from auto insurance companies.
Uninsured/Underinsured Motorist (UM/UIM)
This coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your Mercedes-Benz S55 AMG.
Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Normally your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Comprehensive insurance
This will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things like damage from a tornado or hurricane, theft, hail damage, hitting a bird and damage from flooding. The most you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Liability coverages
Liability coverage can cover damage that occurs to other people or property that is your fault. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 25/50/25 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property. Alternatively, you may have a combined limit which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage protects against things like structural damage, emergency aid and medical expenses. The amount of liability coverage you purchase is your choice, but buy as much as you can afford.
Coverage for collisions
Collision coverage pays for damage to your S55 AMG resulting from colliding with another car or object. You have to pay a deductible then your collision coverage will kick in.
Collision insurance covers claims like driving through your garage door, colliding with another moving vehicle, crashing into a ditch and hitting a parking meter. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. You can also raise the deductible to get cheaper collision coverage.
Med pay and Personal Injury Protection (PIP)
Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses such as rehabilitation expenses, X-ray expenses, hospital visits, nursing services and surgery. They are utilized in addition to your health insurance policy or if you are not covered by health insurance. It covers you and your occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage
The best insurance company isn’t always the cheapest
Lower-priced Mercedes-Benz S55 AMG insurance is definitely available both online and also from your neighborhood agents, and you should compare price quotes from both in order to have the best chance of saving money. Some companies may not provide online quoting and most of the time these small, regional companies sell through independent agents.
In this article, we presented some good ideas how you can reduce Mercedes-Benz S55 AMG insurance prices online. The key thing to remember is the more you quote, the better your comparison will be. Drivers may discover the lowest priced auto insurance comes from the least-expected company. These companies may often insure only within specific states and give getter rates compared to the large companies like Allstate, GEICO and Progressive.
