Buyers have a choice when searching for the lowest priced Mercedes-Benz 560SEC insurance. They can either spend hours struggling with agents to get rate comparisons or use the internet to make rate comparisons. There is a right way and a wrong way to find car insurance online so we’re going to tell you the best way to price shop coverage for a new or used Mercedes-Benz and find the lowest price.
It’s smart to price shop coverage yearly because rates are constantly changing. Just because you found the best deal on 560SEC insurance a year ago you can probably find a lower rate today. Don’t believe everything you read about car insurance online, so I’m going to show you some excellent ideas to slash your car insurance rates.
Comparison of Car Insurance
The are a couple different ways to compare rate quotes and find the best price. The easiest way to find competitive Mercedes-Benz 560SEC insurance rates consists of shopping online. It is quite easy and can be accomplished in a couple of different ways.
The best way consumers can make multiple comparisons is to use a rate comparison form like this one (opens in new window). This easy form saves time by eliminating separate quotation requests for every car insurance company. A single, simple form compares rates from car insurance companies with the best prices. This is by far the quickest method.
A less efficient way to analyze rates consists of visiting each company’s website to complete their respective quote request forms. For sake of this example, we’ll pretend you want rates from GEICO, Esurance and Liberty Mutual. To find out each rate you need to visit each site and enter your information, and that’s why the first method is more popular.
For a list of links to insurance companies in your area, click here.
The hardest method of comparing rate quotes is to waste gas driving to insurance agents’ offices. Shopping for car insurance online makes this process obsolete unless you require the professional guidance of a local agent. Drivers can comparison shop online and get advice from an agent in your area and you’ll learn how to do that later.
Whichever way you use, make darn sure you compare the exact same information for each comparison quote. If you have higher or lower deductibles then you won’t be able to decipher which rate is best. Slightly different insurance coverages could mean much higher rates. And when comparing car insurance rates, know that comparing more company’s prices will enable you to find the best price.
Cut your car insurance rates with these seven discounts
Car insurance companies don’t always list all available discounts very clearly, so we break down both the well known as well as the least known ways to save on car insurance.
- Anti-theft Discount – Vehicles with anti-theft systems are stolen less frequently and therefore earn up to a 10% discount.
- Anti-lock Brakes – Vehicles equipped with ABS or steering control can reduce accidents and will save you 10% or more.
- 55 and Retired – If you qualify as a senior citizen, you may be able to get a discount up to 10% on 560SEC insurance.
- New Vehicle Savings – Adding a new car to your policy can cost up to 25% less compared to insuring an older model.
- Early Signing – Select companies give a discount for switching to them prior to your current policy expiration. This can save 10% or more.
- Life Insurance – Companies who offer life insurance give a discount if you purchase life insurance from them.
- One Accident Forgiven – A handful of insurance companies will forgive one accident before your rates go up as long as you don’t have any claims for a set time period.
A little note about advertised discounts, most credits do not apply to the entire policy premium. A few only apply to specific coverage prices like liability and collision coverage. So even though they make it sound like you would end up receiving a 100% discount, car insurance companies aren’t that generous.
To choose insurers offering car insurance discounts, follow this link.
Local agents and car insurance
Some consumers would prefer to talk to a local agent. The biggest benefit of price shopping on the web is you can get lower rates and still choose a local agent.
By using this form (opens in new window), your information is transmitted to agents in your area who will battle for your coverage. There is no need to even leave your home because quoted prices will be sent to the email address you provide. How cool is that?! Get lower rates and a licensed agent to work with.
Picking an insurance company needs to be determined by more than just the price. Here are some questions to ask:
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- If you are a high risk driver, do they have special markets for your coverage?
- Do they have any clout with companies to ensure a fair claim settlement?
- What insurance company do they write the most business with?
- Can glass repairs be made at your home?
Compare rates from both independent and captive insurance agents
If you’re trying to find an insurance agent, you must know there are a couple different agency structures that differ in how they can insure your vehicles. Agents are categorized either independent or captive.
Captive Agents
Captive agents write business for a single company like State Farm or Allstate. These agents are not able to place coverage with different providers so they have no alternatives for high prices. These agents are usually quite knowledgeable on the products they sell which helps them compete with independent agents. Consumers frequently choose to use a captive agent mostly because of high brand loyalty and the convenience of having a single billing for all their coverages.
Independent Agencies or Brokers
These agents are not employed by any specific company but rather can write business with many different companies and possibly get better coverage at lower prices. If you are not satisfied with one company, your agent can switch companies and that require little work on your part. When comparing rates, it’s recommended you include price quotes from at a minimum one independent agency to have the most options to choose from. Most have the option of insuring with different regional companies which may provide better rates.
To view a complete directory of insurance agents, click here.
Once you have acceptable answers to these questions as well as a affordable price, most likely you have located an insurance agency that is a good match to provide car insurance coverage.
The coverage is in the details
Having a good grasp of your car insurance policy aids in choosing which coverages you need and the correct deductibles and limits. The terms used in a policy can be difficult to understand and coverage can change by endorsement.
Collision insurance
Collision insurance will pay to fix damage to your 560SEC from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things such as backing into a parked car, crashing into a ditch and crashing into a building. This coverage can be expensive, so consider removing coverage from lower value vehicles. It’s also possible to raise the deductible to save money on collision insurance.
Coverage for medical expenses
Coverage for medical payments and/or PIP provide coverage for short-term medical expenses for things like rehabilitation expenses, funeral costs, dental work, ambulance fees and prosthetic devices. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants and will also cover getting struck while a pedestrian. PIP is not available in all states but can be used in place of medical payments coverage
Comprehensive car insurance
This coverage pays for damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things such as vandalism, a broken windshield, falling objects and hitting a bird. The most you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Coverage for uninsured or underinsured drivers
Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Mercedes-Benz 560SEC.
Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked.
Auto liability insurance
This protects you from damage that occurs to other’s property or people that is your fault. This insurance protects YOU against claims from other people. Liability doesn’t cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 100/300/100 that means you have a limit of $100,000 per injured person, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property.
Liability coverage protects against things like pain and suffering, repair bills for other people’s vehicles, court costs and legal defense fees. How much coverage you buy is up to you, but consider buying as large an amount as possible.
Shop smart and save
Budget-conscious Mercedes-Benz 560SEC insurance is definitely available from both online companies in addition to many insurance agents, so you should compare both so you have a total pricing picture. Some insurance providers do not provide the ability to get a quote online and many times these small insurance companies only sell through independent insurance agents.
As you restructure your insurance plan, it’s not a good idea to reduce coverage to reduce premium. There have been many cases where an insured cut collision coverage only to discover later that it was a big error on their part. Your goal should be to get the best coverage possible at the best price while not skimping on critical coverages.
We’ve covered a lot of techniques to save on Mercedes-Benz 560SEC insurance. The key concept to understand is the more rate comparisons you have, the more likely it is that you will get a better rate. Consumers may even find the biggest savings come from a small local company.
