Guide to Buying Mercedes-Benz E500 Insurance for Less
If finding cheaper car insurance was fun, we'd make the time to do it regularly. But the reality is, it's a chore for most people and we seem to always end up paying more than we want to. You probably feel the same way about finding lower cost coverage for your Mercedes-Benz E500.
Step One: Compare Apples-to-Apples Quotes
The old-fashioned method of shopping for car insurance included visiting several local insurance agents and being on the receiving end of a hard sell tactic. Not anymore!
The first step to finding lower Mercedes-Benz E500 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 find affordable coverage for your Mercedes-Benz E500, the first step is to click the link below and complete the short form.
Use the Same Coverages! It's really important that when doing multiple quotes for your E500 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 Insure your E500 for Less
There are many factors that actually determine what you will pay for insurance, and some are completely within your control.
- When insuring your Mercedes-Benz E500, expect to pay a little more due to the higher performance of the vehicle. On your next purchase consider a lower performance vehicle to save on insurance.
- If you are a senior citizen or belong to a particular professional organization, you may qualify for a break on insurance.
- The more a vehicles costs new, the more likely it is that repairs will cost more as well. Since the E500 is a luxury sedan vehicle insurance will cost a little more.
- 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.
- Teen drivers have a tendancy to learn the hard way when driving, and that means having a few fender-benders. Rating them on a high profile newer vehicle can be very expensive so you might consider buying an older model vehicle for them to drive and only insure it with liability coverage.
- 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.
- Newer car models are coming standard with advanced passenger safety systems, and these help reduce the risk of injury in an accident. Less injuries mean lower insurance rates.
- Claims that aren't much more than your deductible are better off just being paid out of pocket. If you get into a habit of filing smaller claims, you will pay for it in higher rates.
- Vehicles that tend to get stolen or have high repair costs will cost you more to insure. If your E500 falls into either category, it could cost you.
- How is your credit rating? The better credit you have, the less insurance will cost for your E500. If you have bad credit, work on improving your credit score and repair past credit problems.
- 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.
- Never allow one policy to expire without having a new policy effective the same date. This causes a lapse in coverage and if you don't have insurance for any length of time, your next policy will cost you more.
- Renters will find they may be paying more for insurance as compared to homeowners. Owning a home can often get you a small discount on your car insurance.
Step Three: Select the Best Company for Your Needs
Once you have compared identical rate quotes for your E500 and made a decision on deductibles, coverages and other policy options, you are ready to buy your policy with the new company.
It's easiest to cancel an old policy at the renewal date, but you can cancel it anytime. Just make sure you have the new policy effective the date you cancel your old policy in order to avoid any lapse in coverage.
If you are adding a vehicle to an existing policy and not buying a new one, just make sure to get the vehicle added as soon as possible. Every insurance company offers a grace period to add new vehicles, so make sure you get the Mercedes-Benz added prior to the expiration of this grace period. The coverage extended to an add-on vehicle is only as good as the coverage on existing vehicles, so if none of your current insured vehicles have full coverage, your new E500 won't have it either. So in that case, it's important to call your agent or company directly from the dealership and have them bind coverage immediately.
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 are required to file an SR-22 with your state, your new insurance company will take care of that for you. If you cancel your coverage for any reason, you risk the loss of your driver's license.
Other Insurance Resources
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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