Having to pay for pricey Mercedes-Benz 500SL insurance can deplete your funds and possibly require you to analyze your spending habits. Online insurance companies like GEICO, 21st Century and Progressive continually bombard you with TV and radio ads and consumers find it hard to see through the deception and effectively compare rates to find the best deal.
It’s important to price shop coverage before your next renewal because prices are rarely the same from one policy term to another. Just because you found the best deal on 500SL insurance at your last renewal the chances are good that you can find a lower premium rate today. Ignore everything you know about auto insurance because you’re about to learn the things you must know in order to save money, get proper deductibles and limits, all at the lowest rate.
Companies don’t list all available discounts very well, so we researched both well-publicized and also the lesser-known credits that may apply to you.
A little note about advertised discounts, some credits don’t apply to the overall cost of the policy. A few only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Despite the appearance that you would end up receiving a 100% discount, companies wouldn’t make money that way.
A list of auto insurance companies and their offered discounts include:
It’s a good idea to ask every insurance company what discounts are available to you. All car insurance discounts may not apply to policies in your area. To view providers with the best discounts, click this link.
A small number of people would rather visit with an insurance agent and that is not a bad decision The best thing about getting online price quotes is you can get lower rates and still choose a local agent. And supporting local agencies is important especially in smaller communities.
After completing this simple form, your insurance data is immediately sent to agents in your area who will give you quotes to get your business. It’s much easier because you don’t need to contact an agency because quoted prices will be sent to the email address you provide. You can find better rates without a big time investment. If you need to compare prices from a specific auto insurance provider, don’t hesitate to navigate to their website and fill out their quote form.
If you would like to find a local insurance agency, you need to know there are two different types of agencies and how they are distinctly different. agents can either be captive or independent agents depending on their company appointments.
Agents in the independent channel can quote rates with many companies and that enables them to quote your coverage with any number of different companies and get you the best rates possible. If they quote lower rates, they can switch companies in-house and you can keep the same agent.
When comparing auto insurance rates, we recommend you check rates from independent agents to get the best comparison.
These agents can only place business with one company like State Farm, Allstate, and Farm Bureau. Captives cannot provide rate quotes from other companies so they have to upsell other benefits. Captives receive a lot of sales training on what they offer which can be an advantage.
For insurance agencies in your area, visit this list of insurance agents near you.
Picking a insurance agency should include more criteria than just the price. Here are some questions to ask:
Respected companies like State Farm, Allstate and GEICO regularly use ads in print and on television. They all seem to state the claim about saving some big amount if you switch to them. How does each company have lower policy pricing? It’s all in the words they use.
Most companies are able to cherry pick for the type of customer that earns them the most money. For example, a profitable customer might have to be married and over the age of 30, insures multiple vehicles, and drives a safe vehicle. Any driver that meets those criteria will get the preferred rates and will save some money.
Potential customers who do not fit the “perfect” profile will probably be forced to pay a more expensive rate which usually ends up with the customer buying from a different company. The wording the ads use say “people that switch” but not “all drivers who get quotes” will save that much if they switch. That’s why companies can truthfully lure you into getting a quote.
Because each company has a different risk profile, it’s extremely important to compare rate quotes every year. It is just not possible to predict with any certainty which company will provide the lowest rates.
Understanding the coverages of a auto insurance policy can be of help when determining the right coverages and the correct deductibles and limits. Auto insurance terms can be impossible to understand and reading a policy is terribly boring. These are typical coverage types found on the average auto insurance policy.
Uninsured or Underinsured Motorist coverage provides protection from other motorists when they either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family. Most of the time the UM/UIM limits are similar to your liability insurance amounts.
This coverage will cover damage or injury you incur to other’s property or people. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property. Some companies may use a combined limit which limits claims to one amount with no separate limits for injury or property damage.
Liability coverage pays for things like structural damage, attorney fees, loss of income, repair bills for other people’s vehicles and pain and suffering. The amount of liability coverage you purchase is up to you, but consider buying higher limits if possible.
Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for things like EMT expenses, surgery, prosthetic devices and doctor visits. They are utilized in addition to your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants in addition to being hit by a car walking across the street. PIP coverage is not available in all states and may carry a deductible
This coverage will pay to fix damage to your 500SL from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage protects against things like hitting a parking meter, crashing into a ditch, damaging your car on a curb, rolling your car and colliding with a tree. This coverage can be expensive, so consider removing coverage from vehicles that are older. Another option is to bump up the deductible in order to get cheaper collision rates.
Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims such as hitting a bird, hail damage, hitting a deer and falling objects. The most you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
We just presented some good ideas how to lower your Mercedes-Benz 500SL insurance car insurance rates. The key concept to understand is the more quotes you get, the better your chances of lowering your premium rates. You may be surprised to find that the most savings is with the smaller companies. They may cover specific market segments cheaper than their larger competitors like State Farm, GEICO and Nationwide.
Lower-priced auto insurance can be bought online and also from your neighborhood agents, so you should be comparing quotes from both so you have a total pricing picture. Some companies don’t offer online price quotes and these small, regional companies sell through local independent agents.