Lower Your 1995 Mercedes-Benz SL-Class Insurance Cost

Having to pay for expensive auto insurance can diminish your savings and make it tough to pay other bills. Getting a rate comparison is a fast and free way to cut your insurance bill.

There is such a variety of insurers to purchase coverage from, and although it’s a good thing to have a selection, having more auto insurance companies makes it harder to compare rates and find the lowest cost auto insurance.

You need to compare prices every six months because rates are constantly changing. Just because you had the lowest rate for SL-Class insurance at your last renewal a different company probably has better prices today. You can find a lot of wrong information about auto insurance on the web, but we’re going to give you a lot of great tips on how to stop overpaying for insurance.

Seven factors that determine insurance prices

It’s important that you understand the rating factors that are used to determine the price you pay for auto insurance. When consumers understand what impacts premium levels, this allows you to make educated decisions that could help you find better auto insurance rates. Lots of things are taken into consideration when you quote your car insurance policy. Some of the criteria are obvious like your driving record, but some are not as apparent such as your credit history or how safe your car is.

• Lower rates come with age – Mature drivers are shown to be more cautious, statistically cause fewer accidents .Inexperience drivers have been known to be careless and easily distracted in a vehicle and because of this, their auto insurance rates are much higher.
• Cars with good safety ratings means lower premiums – Cars with high safety ratings tend to be cheaper to insure. Safer cars reduce the chance of injuries and lower rates of occupant injuries means less claims paid and more competitive rates for policyholders.
• Put fewer miles on your vehicle – The more you drive annually the higher the price you pay to insure it. Most companies rate vehicles based on how the vehicle is used. Vehicles that do not get driven very much receive lower rates as compared to vehicles used primarily for driving to work. A policy that improperly rates your SL-Class can result in significantly higher rates. It’s a smart idea to ensure your policy correctly shows the correct driver usage, because it can save money.
• Careless drivers pay higher rates – How you drive influences premium rates substantially. Attentive drivers pay less for auto insurance as compared to careless drivers. Having a single moving violation can increase the cost of insurance forty percent or more. Drivers with flagrant citations such as reckless driving or DUI may be required to file a SR-22 with their state DMV in order to prevent their license from being revoked.
• Credit rating impacts premium premiums – Having a good credit score is likely to be a major factor in determining what you pay for auto insurance. People with high credit scores tend to be better risks to insure as compared to drivers with lower ratings. If your credit score is low, you could potentially save money when insuring your 1995 Mercedes-Benz SL-Class if you improve your credit rating.
• Multiple policies with one company can save – Most larger insurance companies will award lower prices to insureds who buy several policies from them in the form of a multi-policy discount. The discount can add up to ten or even fifteen percent. If you currently are using one company, it’s in your best interest to compare rates to verify if the discount is saving money.
• Urban residents pay more – Choosing to live in less populated areas of the country can be a good thing if you are looking for the lowest rates. People in densly populated areas regularly have traffic congestion and longer commute times. Less people living in that area means reduced accidents.

These discounts can slash insurance rates

Insurance can be prohibitively expensive, but there could be available discounts to help bring down the price. Many of these discounts will be applied automatically when you get a quote, but some discounts are required to be requested specifically before being credited.

• Early Switch Discount – Some larger companies reward drivers for switching companies before your current coverage expires. It could save around 10% when you buy insurance online.
• Membership in Organizations – Being a member of certain professional organizations may earn a discount when shopping for insurance.
• Theft Deterent Discount – Anti-theft and alarm system equipped vehicles are stolen with less frequency and will save you 10% or more.
• Passive Restraints and Air Bags – Factory options such as air bags and/or automatic seat belt systems could see savings of more than 20%.
• Distant Student – Older children living away from home attending college and do not have access to a covered vehicle may be insured at a cheaper rate.
• Savings for New Vehicles – Buying insurance coverage on a new vehicle may earn a small discount because newer models have to meet stringent safety requirements.
• Military Discounts – Being on active duty in the military can result in better prices.
• Telematics Devices – Insureds who allow driving data submission to analyze driving habits through the use of a telematics system such as Allstate’s Drivewise and State Farm’s In-Drive system may see discounts as long as they are good drivers.
• ABS Brakes – Anti-lock brake equipped vehicles can stop better under adverse conditions and therefore earn up to a 10% discount.
• Seat Belts Save more than Lives – Forcing all vehicle occupants to wear their seat belts can save a little on the medical payments or PIP coverage costs.

As a footnote on discounts, some credits don’t apply to the entire cost. Some only reduce individual premiums such as liability and collision coverage. If you do the math and it seems like adding up those discounts means a free policy, insurance companies wouldn’t stay in business. Any amount of discount will definitely reduce your overall bill.

Companies that may offer some of the above discounts may include but are not limited to:

• Farm Bureau
• Liberty Mutual
• State Farm
• Auto-Owners Insurance
• Geico
• SAFECO

If you need lower rates, check with every company which discounts you qualify for. Depending on the company, some discounts may not apply to policyholders in your area. To see a list of companies who offer free insurance quotes, click here.

Are you falling for claims of savings?

Consumers constantly see and hear ads that claim the lowest rates from companies such as Allstate, Geico and Progressive. All the ads tend to make the same promise that drivers will save a bundle if you change your policy.

It sounds good, but how can they all make the same claim?

Insurance providers have an ideal profile for the type of customer that earns them the most money. An example of a desirable risk may need to be a married female, has other policies, and has a high credit rating. Any new insured that fits those parameters is entitled to the best price as well as save a lot of money.

Potential customers who don’t measure up to the “perfect” profile will be charged higher premium rates which translates to business going elsewhere. If you pay attention, the ads say “drivers who switch” not “everyone that quotes” can get the lowest rates when switching. That’s the way insurance companies can confidently advertise the way they do. Because of the profiling, you really need to compare as many free insurance quotes as you can. It’s impossible to know which company will fit you best based on your risk profile.

When do I need an agent’s advice?

When choosing the best insurance coverage, there isn’t really a one size fits all plan. Everyone’s situation is a little different so your insurance should reflect that For instance, these questions might point out whether or not you would benefit from professional advice.

• Am I covered if I wreck a rental car?
• Does my 1995 Mercedes-Benz SL-Class need full coverage?
• What vehicles should carry emergency assistance coverage?
• Should I file a claim if it’s only slightly more than my deductible?
• What are the best liability limits?
• Am I missing any policy discounts?
• Does liability extend to a camper or trailer?
• When should I buy a commercial auto policy?
• Does my policy pay for OEM or aftermarket parts?
• Do I have coverage if my license is suspended?

If you can’t answer these questions then you might want to talk to a licensed agent. To find an agent in your area, fill out this quick form or you can also visit this page to select a carrier It only takes a few minutes and you can get the answers you need.

Specific coverage details

Knowing the specifics of insurance can help you determine the right coverages for your vehicles. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording. These are typical coverage types offered by insurance companies.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses like X-ray expenses, dental work and EMT expenses. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants and also covers getting struck while a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist (UM/UIM)

This coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your Mercedes-Benz SL-Class.

Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked.

Comprehensive insurance

This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers claims such as theft, rock chips in glass and hitting a deer. The maximum amount your insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Liability car insurance

Liability insurance protects you from damages or injuries you inflict on a person or their property in an accident. It protects YOU against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.

Liability insurance covers claims such as medical expenses, loss of income, repair bills for other people’s vehicles, medical services and funeral expenses. How much liability coverage do you need? That is a decision to put some thought into, but you should buy higher limits if possible.

Collision coverage

This coverage will pay to fix damage to your SL-Class resulting from colliding with another car or object. A deductible applies and then insurance will cover the remainder.

Collision insurance covers things such as hitting a mailbox, crashing into a building and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. It’s also possible to bump up the deductible in order to get cheaper collision rates.

Compare but don’t skimp

The cheapest 1995 Mercedes-Benz SL-Class insurance is available from both online companies as well as from independent agents, so you should compare both to have the best rate selection. Some insurance companies may not offer online quoting and these smaller companies prefer to sell through independent insurance agencies.

We just covered quite a bit of information on how to reduce 1995 Mercedes-Benz SL-Class insurance rates online. The key concept to understand is the more times you quote, the higher your chance of finding inexpensive insurance. Drivers may discover the best rates are with a lesser-known regional company. Some small companies can often insure niche markets at a lower cost than their larger competitors like Allstate, Geico and Progressive.

More learning opportunities

• Tread Depth and Tire Safety (State Farm)
• Auto Crash Statistics (Insurance Information Insitute)
• How Much Auto Coverage do I Need? (Insurance Information Insitute)
• Five Tips to Save on Auto Insurance (Insurance Information Insitute)