Penny Pincher's Guide to Insuring a Mercedes-Benz S65 AMG
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. You probably feel the same way about finding lower cost coverage for your Mercedes-Benz S65 AMG.
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. Now you can compare rates and buy a policy online!
All the major car insurance companies sell insurance for a Mercedes-Benz S65 AMG and you can compare their rates by entering your information only one time.
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.
Important Tip! In order to accurately compare rates for your S65 AMG, it's critical that you use the same limits and deductibles for liability and physical damage coverages like comprehensive and collision. If you use different limits, you will not be able to accurately compare rates between carriers.
Step Two: Tried and True Ways to Save on S65 AMG 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 S65 AMG.
- When insuring your Mercedes-Benz S65 AMG, 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.
- 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.
- The S65 AMG 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.
- 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.
- If you have a period where you don't have any insurance coverage, that's called a lapse. The longer the lapse, the more you'll pay to reinstate coverage.
- If you are a renter rather than a homeowner, you might pay a little more to insure your car. Owning a home takes financial repsonsibility and insurance companies reward those policy holders.
- If you belong to a professional organization, check to see if that can earn you a discount. If you're over the age of 55, check to see if they have a senior citizen discount as well.
- One of the easiest ways to cut your rates is to increase your comprehensive and collision deductibles. By having a higher deductible like $500 or even $1,000, you can save 30% or more on physical damage coverage.
- The easiest way to INCREASE your car insurance rates is to add a teenage driver to your policy. There aren't many ways to prevent a rate increase, but if you can rate them on an older vehicle, it can help.
- A lead foot will result in higher insurance rates. Slow down, don't get tickets and you'll pay less.
- Safety features such as passive restraints and air bag systems help reduce injuries in and accident, and car insurance companies will charge lower rates if these features are present.
- 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.
- If your S65 AMG ranks on the list of vehicles that are frequently stolen, that can result in a higher rating class and a more expensive rate.
Step Three: Select the Best Company for Your Needs
Knowing which company to insure your S65 AMG 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.
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 the Mercedes-Benz S65 AMG 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 S65 AMG.
After completing your policy purchase, you can print out the proof-of-insurance card to place in your car. Always keep the current card available in case requested by law enforcement or if you are in an accident. 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
The Insurance Information Institute has a great resource of car insurance articles where you can learn more about coverages and money saving tips. Visit iii.org.
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