Easy Guide to Cheaper Mercedes-Benz 500SEC Insurance Rates
If finding affordable car insurance was easy, most of us would take the time to do it. But the premiums we pay always seem to be too high and most of use would rather get a tooth pulled. Finding good insurance for your Mercedes-Benz 500SEC probably leaves you feeling the same way.
Step One: Shop Around
If you haven't priced insurance for awhile, you may still think that the only way to compare rates is to drive around town to multiple insurance offices and meet with an agent. Now you can compare rates and buy a policy online!
The first step to finding lower Mercedes-Benz 500SEC rates is to get quotes from all the major car insurance companies. This is fast and easy and only requires you to complete one form.
To compare rates now, have your current policy handy (if you have one) and click the link below. Complete the short form and move on to step two.
Insurance Quoting Tip! The only way to accurately compare rates bewteen different companies for your 500SEC is to use identical coverage limits on all the quotes. If you use different liability limits and/or deductibles, you won't have an apples-to-apples rate comparison.
Step Two: Tried and True Ways to Save on 500SEC Insurance
After step one is complete, it's now time to analyze some of the other factors that can negatively impact car insurance rates for a 500SEC.
- The Mercedes-Benz 500SEC is a higher performance vehicle, but do you really need the increased speed or power? Vehicles with more moderate performance are usually cheaper to insure.
- 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.
- OEM repair parts for the 500SEC cost more due to the higher quality. You will pay more for insurance because of this.
- Speeding and other minor violations can impact your car insurance rates for up to three years. The increased cost can easily exceed the fine and court costs for the original ticket.
- If you rent rather than own a home, you may be paying more for car insurance. Homeowners often get lower rates.
- Teen drivers are expensive to insure and the only way to lower your rates is to rate them on an older vehicle with basic liability coverage.
- When buying a new policy, you do not want a gap in coverage. This lapse is viewed by insurance companies as a high risk, and you will pay more for your next policy.
- Smaller claims that hardly exceed your deductible are better off not being filed with your insurance company. Policyholders with no claims enjoy lower rates than those who frequently file claims.
- Having recently completed a class in driver's safety could earn you a discount of 5% to 10%. Check with your insurance company to see if they offer that credit.
- Air bags, antilock brakes, traction control, and stability control all help lower the cost of insurance due to reducing the risk of injury in an accident.
- If you're over the age of 55, check to see if you qualify for a senior citizen discount. Qualification age may vary by company
- Vehicle thefts drive up the cost of everyone's insurance, but if your 500SEC is on the list of the most frequently stolen cars, you might be paying just a little extra.
- Before a comprehensive or collision claim is paid by your company, you have to pay a deductible first. The more you're willing to pay, the lower your rates will be. Consider raising your deductibles to $500 or even $1,000.
Step Three: Buy the Best Policy
Knowing which company to insure your 500SEC with is more than just choosing the lowest rate. You also need to be ready to put a down payment on your policy and make sure you have all the proper coverages in place.
Make sure to avoid any lapse in coverage by setting the new policy's effective date to be the same date you cancel your old policy. Otherwise you could be driving without any coverage.
If the Mercedes-Benz 500SEC is a new purchase and you already have car insurance, then you will have some coverage that extends to the vehicle. But if you let your old policy lapse or have never had coverage, you don't have any protection once you buy the vehicle. Most car insurance companies will extend coverage to newly purchased vehicles, but only up to the limits of the best insured vehicle. So if you only carry liability insurance and no physical damage coverage, your new purchase will be inadequately insured until you specifically add it to the policy with full coverage.
Upon completion of buying your policy, you need to print out the financial responsibility card that must be kept in your vehicle at all times. Replace any old cards and promptly replace expired cards. If you qualilfy as a high-risk driver after being convicted of a DUI, reckless driving or driving on a suspended license, you may be required to file an SR-22 with your state's DMV. Be sure your new car insurance company is aware of this filing requirement.
Additional Learning Resources
For more detailed car insurance topics, visit the Insurance Information Institute.
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