Easy Guide to Cheaper Mercedes-Benz E420 Insurance Rates
If comparing car insurance was easy, most of us would do it more often. But the reality is, you probably don't enjoy it and you think it costs too much. Finding insurance for your Mercedes-Benz E420 that you can actually afford is probably no different.
Step One: Compare Multiple Rates
If you haven't shopped for car insurance for awhile you might remember the days when the only option was to visit a local insurance agent. Now you can compare rates and buy a policy online!
Almost every car insurance company now offers online quotes, and you can actually get insurance quotes for a Mercedes-Benz E420 without even visiting their websites!
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 E420 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: Insider Tips for Finding Cheaper E420 Insurance
After completing step one above, you can now learn some of the other ways to slash your E420 insurance costs.
- The performance boost offered by your Mercedes-Benz E420 is going to force you to spend more for insurance. Consider trading for a lower performance vehicle in order to bring down your rates.
- 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.
- The E420 would be considered a luxury vehicle, and repair costs are generally higher for more expensive vehicles. This increased cost is passed on to you through a higher insurance cost.
- How is your credit rating? The better credit you have, the less insurance will cost for your E420. If you have bad credit, work on improving your credit score and repair past credit problems.
- Every parent dreads the day when their teenager gets added to their policy. If you are a teenager, or if you have one on your policy, expect to pay significantly more each year.
- Ask your insurance company if there is a discount for completing a driver's safety course. It may get you up to a 10% discount at your next renewal.
- One of the easiest ways to keep your rates down is to drive safe. One speeding ticket can boost your rates for three years.
- If switching companies, always have the effective date of the new policy be identical to the expiration date on the old policy. This prevents a lapse in coverage and companies charge higher rates if you have any lapses.
- The advancement of car safety features such as traction control, stability control, front and side-impact air bags and all-wheel drive all help keep insurance costs down.
- If you own a home, you may get a break on your car insurance. Home ownership demonstrates financial responsibility.
- 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.
- Insurance companies often give discounts to senior citizens and professional organizations, so if you're one of those, check to see if you qualify.
- If you car makes the top ten list of most stolen cars, you might be paying a little extra to insure it.
Step Three: Bind Coverage and Cancel your Old Policy
Now that you hopefully have several rates to compare and have made any changes needed to your individual coverages, you can choose the best company to insure your E420 with.
If you didn't have a prior policy, then you can make the new policy effective any time. But if you're moving bewteen companies and don't want a lapse in coverage, make sure the effective date of the new policy is exactly the same as the cancellation date of the old policy.
If the Mercedes-Benz E420 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. Coverage that extends from an existing policy is only as good as your current coverage. So if you don't carry full coverage on any vehicles, you won't have it on your new E420.
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. If you have received a DUI, reckless driving citation or caused an accident without insurance, you may be required to file an SR-22 with your state DMV. Make sure your new company is aware of the SR-22 filing requirement.
More Resources
For more detailed car insurance topics, visit the Insurance Information Institute.
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