How to Insure your Maybach 57 on a Tight Budget
If buying car insurance was fun, we'd do it as a recreational sport. But it's actually not a real enjoyable process for the majority of people and we always seem to end up paying too much. Insuring your Maybach 57 is probably no exception.
Step One: Insurance Quotes
Up until just recently, the only option you had for shopping for insurance was getting a high pressure sales pitch in the office of your local insurance agent. Welcome to the 21st century!
Comparing insurance rates for a Maybach 57 only require you to enter your information once. You'll receive multiple quotes and can easily compare rates.
Compare rates now by clicking the link below. In just a few minutes you'll have a good idea of what insurance will cost for your Maybach 57.
Quote Tip! In order to accurately compare rates for your Maybach 57, it's critical that you use the same limits and deductibles for liability and physical damage coverages like comprehensive and collision. If you use different limits, you will not be able to accurately compare rates between carriers.
Step Two: Best Ways to Lower your Maybach 57 Insurance Cost
Once you have quotes in hand, you can then consider some of the other techniques for lowering your Maybach 57 insurance rates.
- The Maybach 57 is a high performance vehicle. Insurance rates are higher on cars that offer larger engines, more horsepower or increased risk of accident or rollover.
- Insurance companies pay attention to which vehicles are stolen the most, so if your car is frequently targeted by thieves, chances are good you will pay more for insurance if you live in certain parts of the country.
- Repair shops have more expenses when repairing damage on luxury vehicles, so they will charge your insurance company more to make the repairs. This will be evident in your insurance rates even if you don't have a claim.
- If you belong to a professional organization for your employment, you may qualify for a discount rate. And if you're a senior citizen, you may get a discount for your age as well.
- If your Maybach is equipped with safety features such as airbags, anti-lock brakes or a security system, insurance companies will often give a minor discount for those.
- The time it takes to complete a driver's safety training course could be time well spent. It could save you up to 10% off your car insurance rates.
- If you have tended to file small claims with your car insurance company in the past, you're most likely going to pay higher premiums in the future. Consider paying minor claims out-of-pocket instead of blemishing your claim history.
- Do not allow your current car insurance coverage to lapse or expire. Insurance companies have a simple way to find out when your last policy ended (called a CLUE report), and if you went without coverage for any length of time you may pay more for coverage.
- If you have any teenage drivers in your household, expect to fork out quite a bit more for insurance. Rating them on a low profile vehicle with liability only coverage is the best way to save money.
- Renting a house or apartment rather than owning a home may keep you from paying the lowest rates on car insurance. Home ownership is viewed as being more financially responsible than renting.
- If you think the only financial impact of a speeding ticket is a fine and court costs, think again. Insurance companies will raise your rates for up to three years for a single ticket.
- Each year make a habit of checking your credit score. If you find problems that may be dragging down your credit rating, address them immediately. This will result in significant savings on car insurance.
- Higher deductibles save money. If you can afford to pay a larger portion of a comprehensive or collision claim, you will pay substantially less for those coverages if you increase your deductibles to $500 or even $1,000.
Step Three: Choose a Company and Bind Coverage
Purchasing an insurance policy is more than just clicking a button. You need to have funds available to make payment and you need to be sure that the coverages are adequate for your personal situation.
The key thing to keep in mind when buying a new policy is you do not want your old policy to lapse. Make sure the effective date of the new policy is on or before the expiration date of your current policy.
If you don't currently have a car insurance policy, make sure you have coverage in force before driving your Maybach off the lot. But if you already have a policy, you will have coverage extended to your new car from your existing policy. Anytime you buy a vehicle, you want to make sure coverage is in place before driving off the lot. If you have a policy now, you will have at least liability coverage. But if you don't insure any vehicles with full coverage, then you will put your new Maybach 57 at risk as soon as you drive away.
All states require you to keep the proof-of-insurance or financial responsibility card in your vehicle at all times. Failure to produce this document can result in a citation. SR-22 filings are for high risk drivers and ensure that you have met your state's financial responsibility requirements. If you have DUI, DWI or uninsured accident convictions, you may have to file an SR-22 with your state DMV.
For More Information
To do more research on car insurance, visit the Insurance Information Institute website.
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