Locating low-cost insurance for a Mercedes-Benz 560SEL can turn out to be a lot of work, but you can learn these tips to find lower rates. There are more efficient ways to compare auto insurance rates so you’re going to learn the best way to compare rates for a Mercedes-Benz and get the lowest price from both online companies and local agents.
If you are paying for car insurance now, you will most likely be able to reduce your rates substantially using these tips. Buying the cheapest auto insurance coverage can be fairly easy. But drivers do need to learn the way companies market insurance on the web and apply this information to your search.
These factors can influence Mercedes-Benz 560SEL insurance rates
An important part of buying insurance is that you know the rating factors that help determine your auto insurance rates. Understanding what controls the rates you pay empowers consumers to make smart changes that can help you get big savings.
- Your stress level may be raising your rates – Careers like real estate brokers, executives and stock brokers are shown to have the highest rates attributed to high stress levels and long work hours. On the other hand, occupations like scientists, students and the unemployed pay the least for 560SEL coverage.
- Higher deductibles cost less – Physical damage insurance, otherwise known as comp (or other than collision) and collision, protects your Mercedes-Benz from damage. Examples of covered claims are collision with another vehicle, damage caused by hail, and windstorm damage. Physical damage deductibles are the amount of money you are willing to pay before a claim is paid by your company. The more expense you’re willing to pay, the less your auto insurance will be for 560SEL coverage.
- High performance equals high price – The type of vehicle you are insuring makes a significant difference in your rates. The cheapest insurance rates are usually for economy passenger vehicles, but the cost you end up paying is determined by many additional factors. Since the Mercedes-Benz 560SEL is considered a luxury sedan, insuring your vehicle will cost more compared to average rates.
- Never allow your policy to lapse – Not having insurance is a misdemeanor and auto insurance companies will penalize you for letting your insurance lapse. Not only will rates go up, but being ticketed for driving with no insurance can result in a hefty fine and possibly a revoked license.You may need to prove you have insurance by filing a SR-22 with your state DMV.
- Multi-policy discounts can save money – The majority of companies will give a discount to insureds who have multiple policies with them such as combining an auto and homeowners policy. Discounts can amount to anywhere from five to ten percent in most cases. If you currently are using one company, it’s in your best interest to comparison shop to make sure you are getting the best deal.
- Liability coverage is peace of mind – Your policy’s liability coverage provides coverage in the event that a jury decides you are liable for damages caused by your negligence. It will provide legal defense coverage up to the limits shown on your policy. Liability is cheap as compared to coverage for physical damage, so drivers should carry high limits.
- Battle of the sexes – The statistics show that women are safer drivers than men. Now that doesn’t mean men are WORSE drivers than women. Men and women have accidents at a similar rate, but the males tend to have more serious accidents. They also have more aggressive citations such as DWI and reckless driving.
- Special features that cut premiums – Choosing a vehicle that has an advanced theft prevention system can help bring down rates. Anti-theft features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart your vehicle from being stolen.
These discounts can slash auto insurance rates
Companies don’t necessarily list all their discounts very clearly, so we took the time to find both the well known and the more hidden discounts you could be receiving.
- Government Employees – Employees or retirees of the government can earn a discount up to 10% for 560SEL coverage with certain companies.
- Accident Forgiveness – A few companies will forgive one accident before raising your premiums so long as you haven’t had any claims for a set time period.
- Distant Student – Children living away from home attending college and do not have a car can be insured at a reduced rate.
- Memberships – Being a member of certain professional organizations may earn a discount on your policy for 560SEL coverage.
- E-sign – A handful of insurance companies may give you up to $50 for buying your policy over the internet.
It’s important to note that some credits don’t apply to all coverage premiums. Most only cut individual premiums such as collision or personal injury protection. So when the math indicates all the discounts add up to a free policy, auto insurance companies aren’t that generous.
For a list of insurance companies with the best auto insurance discounts, follow this link.
The auto insurance bait and switch
Auto insurance companies such as Allstate and Progressive continually stream ads on TV and radio. They all seem to make an identical promise that you can save after switching your policy. But how can every company make almost identical claims? This is how they do it.
Different companies have a certain “appetite” for the right customer that earns them a profit. For example, a driver they prefer might be profiled as between 25 and 40, a clean driving record, and has a short commute. Any new insured who fits that profile will get very good rates and therefore will save when they switch companies.
Consumers who don’t measure up to the “perfect” profile will be charged a more expensive rate which leads to business going elsewhere. Company advertisements say “drivers who switch” not “everybody who quotes” save that much money. That is how companies can make the claims of big savings. That is why drivers must get quotes from several different companies. It’s impossible to know which auto insurance company will provide you with the cheapest rates.
When might I need the advice of an agent?
When choosing the right insurance coverage for your vehicles, there really is not a “perfect” insurance plan. Everyone’s situation is a little different.
These are some specific questions can aid in determining if you will benefit from professional help.
- Is rental equipment covered for theft or damage?
- Does my liability insurance cover pulling a trailer or camper?
- Am I covered if I crash into my own garage door?
- Do I benefit by insuring my home with the same company?
- Do I need PIP (personal injury protection) coverage in my state?
- How many claims can I have before being cancelled?
- Do I need added coverage for expensive stereo equipment?
- Does my Mercedes-Benz 560SEL need full coverage?
- Do I have coverage when pulling a U-Haul trailer?
- Is business property covered if stolen from my car?
If you’re not sure about those questions, you may need to chat with an insurance agent. If you want to speak to an agent in your area, simply complete this short form.
A little work can save a LOT of money
We just showed you some good ideas how you can reduce Mercedes-Benz 560SEL insurance prices online. The key concept to understand is the more rate comparisons you have, the higher the chance of saving money. Consumers may even find the lowest priced auto insurance comes from a company that doesn’t do a lot of advertising.
Drivers who switch companies do it for many reasons like lack of trust in their agent, policy non-renewal, delays in paying claims and policy cancellation. It doesn’t matter why you want to switch finding the right auto insurance provider is pretty easy and you might even save some money in the process.
As you restructure your insurance plan, never buy less coverage just to save a little money. There are many occasions where consumers will sacrifice full coverage only to regret that the few dollars in savings costed them thousands. Your strategy should be to buy a smart amount of coverage at an affordable rate while not skimping on critical coverages.
