Insure a Mercedes-Benz S320 like a Penny Pincher
If finding affordable car insurance was easy, most of us would take the time to do it. But we always seem to pay too much for coverage and most people would rather go to the dentist. Finding affordable coverage for your Mercedes-Benz S320 probably is no different.
Step One: Shop Around
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. Welcome to the 21st century!
Getting online rate quotes for a Mercedes-Benz S320 from all the major insurance companies is very easy and only requires you to enter your information once.
To begin, click on the link below and complete the short form. It only takes a few minutes and it's helpful to have your current policy handy if you have one.
Quoting Tip! The only way to compare rates from multiple companies is to use identical coverage amounts and deductibles on each quote. If you use different limits on quotes, you cannot accurately determine which company has the best rates for your S320.
Step Two: Techniques to Lower your S320 Insurance Rates
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 S320.
- Some people just like the looks of a higher performance vehicle like the Mercedes-Benz S320, but even if you don't use the extra power it's going to cost you more when your insurance bill arrives.
- Good credit will get you lower car insurance rates. Evidence correlates good credit with low claims, so the better you maintain your credit level, the less risk you are to your company.
- The S320 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.
- If you carry full coverage on your vehicle, you can slash your rates by increasing your comprehensive and collision deductibles. You'll pay more out-of-pocket but you will save with every renewal.
- To keep your rates low, don't file excessive claims on your policy. Insurance is meant to cover large losses, not small damage that you can pay for out-of-pocket.
- 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
- A single speeding ticket can cost you several hundreds of dollars over the next three years thanks to increased car insurance rates. Slow down and drive safely.
- Driver's safety courses will often get you a discount off your rates. Check to see if your company offers the discount and find a qualifying class in your area.
- Gaps in insurance coverage will cause problems for your insurance rates. Don't let your policy expire without having new coverage in place.
- 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.
- Vehicle thefts drive up the cost of everyone's insurance, but if your S320 is on the list of the most frequently stolen cars, you might be paying just a little extra.
- 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.
- Owning a home takes financial responsibility, and car insurance companies will often give you a break just for being a homeowner.
Step Three: Buy the Policy That's Right for You
Car insurance is pretty easy to buy online, but you do need to be aware that it is a legally binding contract. You need to have funds available for a down payment as well as review your coverages for any insufficiencies.
If you're cancelling an old policy, make sure the new coverage starts the same day your old policy ends. This avoids any penalty for having a lapse in coverage which can cost you more.
If you don't currently have a car insurance policy, make sure you have coverage in force before driving your Mercedes-Benz off the lot. But if you already have a policy, you will have coverage extended to your new car from your existing policy. 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 S320.
The proof-of-insurance card that is required by state law to be carried in your vehicle can be printed out upon completion of your car insurance policy. 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
To read more about topics such as how to file a claim, replacement auto parts and mistakes to avoid, visit the Insurance Information Institute website.
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