Three Steps to Paying Less for Mercedes-Benz 500SEL Insurance
If shopping your car insurance around was fun, we'd do it much more often. But unfortunately, it's difficult for a lot of people and we always seem to pay more than we should. Cutting the check for each renewal on your Mercedes-Benz 500SEL might give you the same feeling.
Step One: Insurance Rate Comparison 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. But now you can eliminate that hassle and buy online!
Almost every car insurance company now offers online quotes, and you can actually get insurance quotes for a Mercedes-Benz 500SEL without even visiting their websites!
To start saving, have your current policy handy and click the link below. Our short form makes it easy to enter your information and compare rates.
Use the Same Coverages! It's really important that when doing multiple quotes for your 500SEL that you use identical coverages for liability, comprehensive and collision. If you use different values, it's impossible to determine which company has the lower rates.
Step Two: How to Save on 500SEL Insurance
There are many contributing factors that determine what you pay to insure your Mercedes-Benz. You can help yourself (and your wallet) by paying attention to the following rate factors.
- If you need the extra performance that your Mercedes-Benz 500SEL gives you, then you'll have to pay extra to insure it. Higher performance cars tend to be more expensive to insure.
- Being a senior citizen can qualify you for a small discount on your insurance rates. Older drivers are generally more cautious so they get a lower rate.
- 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.
- How is your credit rating? The better credit you have, the less insurance will cost for your 500SEL. If you have bad credit, work on improving your credit score and repair past credit problems.
- Successfully completing a driver's training class can help lower your rates if your insurance company offers that discount.
- Most Mercedes-Benz vehicles come with standard safety features such as air bags and passive restraints, and those will help keep your insurance costs down.
- A deductible is the amount you pay before your company pays a comprehensive or collision claim. If you increase your deductibles, you will pay less for these coverages.
- Reduce your rates by buying a car that is not a hot model for car thieves. Certain makes and models are more tempting than others, and high-frequency stolen vehicles get charged a higher rate.
- Try to maintain a claim-free discount on your car insurance policy. Obviously you can't prevent large claims, but if they are smaller and you can afford to pay them out-of-pocket, do so.
- 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 have a speeding ticket or other moving violation, you could be charged more for insurance. If you get a ticket, find out if your county or state offers a defensive driving course that will void the ticket upon completion.
- If your insurance company allows driver-specific car rating, you can save money by rating any teenage drivers on low profile vehicles with either no physical damage coverage or very high deductibles.
- Having any gaps in coverage (known as a lapse) is bad in the eyes of any insurance company. Make sure you keep coverage in force at all times by synchronizing the expiration and effective dates of your policies.
Step Three: Finalize your Policy Details
If you have found a good price by comparing quotes and also made informed decisions regarding policy limits, deductibles and other policy options that are available, you can now purchase the policy and bind coverage.
It's critical that your new policy starts the same day that your old policy ends. If you are cancelling mid-term, make sure there is no lapse in coverage before your new policy kicks in.
Any time you buy a new vehicle, make sure you have car insurance in place, either from an existing policy or a new policy that you purchase from the dealership floor. 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 500SEL at risk as soon as you drive away.
Your insurance company will provide you with proof-of-insurance forms to keep in your vehicle. It's required by state law to carry at least the state minimum liability limits. 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
The Insurance Information Institute website has a great library of car insurance topics that cover claims, replacement parts, rental cars and more.
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