Compare 2001 Mercedes-Benz SLK-Class Insurance Cost

Looking for cheaper auto insurance rates for your Mercedes-Benz SLK-Class? Finding cheaper insurance for a Mercedes-Benz SLK-Class could be difficult, but you can learn the following methods to find lower rates. There are both good and bad ways to compare auto insurance rates and we’ll show you the best way to quote coverages on a Mercedes-Benz and obtain the best price possible either online or from local insurance agents.

If you have a current car insurance policy or need a new policy, you can use this information to find better prices while maintaining coverages. Pricing the best car insurance is not that difficult. Drivers just need to learn the tricks to shop online.

Buy cheap insurance coverage with these tips

Lots of things are part of the calculation when premium rates are determined. Most are fairly basic such as your driving history, although some other factors are not quite as obvious such as your credit history or how financially stable you are.

The following are some of the items insurance coverage companies consider when setting your premiums.

• Bundle policies and save – Some insurance coverage companies apply a discount to clients who consolidate policies with them such as combining an auto and homeowners policy. This can amount to as much as ten percent or more Even if you’re getting this discount it’s still a good idea to shop around to help guarantee you have the best rates.
• Gaps in coverage mean higher prices – Driving without insurance is against the law and as a result your rates will increase for letting your insurance expire. Not only will you pay higher rates, not being able to provide proof of insurance may earn you fines and jail time. You will then be forced to submit proof of financial responsibility or a SR-22 with your state DMV.
• Save money by having high credit – Having a bad credit score is likely to be a major factor in your rate calculation. Insureds with very high credit ratings tend to be more responsible than those with poor credit scores. Therefore, if your credit rating can be improved, you could pay less to insure your 2001 Mercedes-Benz SLK-Class if you clean up your credit.
• Higher comp and collision deductibles are cheaper – Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, helps pay for damage to your vehicle. Some examples of covered claims are running into the backend of another car, collision with an animal, or theft. The deductibles define how much you are willing to pay if the claim is covered. The larger the amount you have to pay, the lower your rates will be on SLK-Class coverage.

Are you receiving every discount?

Some insurance providers don’t always advertise every discount they offer in an easy-to-find place, so the list below gives a summary of both the well known as well as the least known savings tricks you should be using when you buy car insurance online.

• Switch and Save Discount – A few companies offer discounts for switching to them before your current expiration date. This can save 10% or more.
• Military Discounts – Being deployed in the military could trigger a small discount.
• Discounts for Cautious Drivers – Insureds who avoid accidents can pay as much as 50% less on SLK-Class coverage than their less cautious counterparts.
• Save with More Vehicles Insured – Insuring more than one vehicle with one company qualifies for this discount.
• Low Miles Discount – Low annual miles could earn cheaper premium rates.
• Discount for Home Ownership – Just being a homeowner may earn you a small savings since home ownership is proof that your finances are in order.
• Accident Free – Claim-free drivers can earn big discounts when compared to bad drivers.
• Driver’s Education for Students – Require your teen driver to successfully complete driver’s ed class as it can save substantially.
• Safety Restraint Discount – Drivers who require all vehicle occupants to fasten their seat belts could save 15% off PIP or medical payments premium.

Just know that most of the big mark downs will not be given to the entire policy premium. The majority will only reduce the cost of specific coverages such as physical damage coverage or medical payments. So when the math indicates all those discounts means the company will pay you, that’s just not realistic. But all discounts will positively reduce your insurance premiums.

Companies and a selection of discounts are detailed below.

• State Farm may have discounts that include multiple autos, driver’s education, Drive Safe & Save, accident-free, good student, and passive restraint.
• American Family policyholders can earn discounts including defensive driver, good driver, TimeAway discount, good student, mySafetyValet, multi-vehicle, and bundled insurance.
• AAA discounts include pay-in-full, education and occupation, good driver, multi-car, and AAA membership discount.
• Geico has savings for federal employee, anti-theft, good student, driver training, military active duty, and daytime running lights.
• Mercury Insurance offers discounts for location of vehicle, age of vehicle, professional/association, good driver, multi-policy, and low natural disaster claims.
• Farmers Insurance has discounts for good student, bundle discounts, mature driver, youthful driver, electronic funds transfer, and switch companies.
• Progressive may include discounts for online signing, multi-vehicle, multi-policy, good student, and continuous coverage.

Check with every insurance company which discounts can lower your rates. A few discounts may not apply to policies everywhere. To see a list of insurance companies that offer multiple discounts, follow this link.

Insurance companies are expert advertisers

Consumers can’t get away from all the ads that claim the best prices by companies like Geico, State Farm and Progressive. All the companies state the claim about how much you will save after switching your policy.

How do they all make the same claim? This is the way they can do it.

Insurance companies are able to cherry pick for the type of insured that is profitable for them. A good example of a desirable risk could be a married female, has a clear driving record, and drives a lower-performance vehicle. A driver that hits that “sweet spot” may get the lowest premium rates and is almost guaranteed to save when they switch companies.

Potential insureds who don’t meet these standards will probably be forced to pay higher premium rates which usually ends up with business going elsewhere. The trick is to say “drivers that switch” not “all people who quote” will save that much if they switch. That is how companies can truthfully make the claims of big savings. This really emphasizes why you absolutely need to do a rate comparison at every renewal. It is impossible to predict which company will give you lower premium rates than your current company.

When in doubt talk to an agent

When choosing coverage, there is no cookie cutter policy. Everyone’s needs are different.

Here are some questions about coverages that might help in determining whether or not you will benefit from professional help.

• Do I need special endorsements for business use of my vehicle?
• Does my insurance cover damage caused when ticketed for reckless driving?
• Will my insurance pay for OEM parts?
• When can my company non-renew my policy?
• What is UM/UIM insurance?
• What if I don’t agree with a claim settlement offer?
• How much liability do I need to cover my assets?
• Can I get a multi-policy discount for packaging my home and auto coverage?
• Why do I only qualify for high-risk insurance?
• Do I need higher collision deductibles?

If you don’t know the answers to these questions, then you may want to think about talking to an agent. If you don’t have a local agent, simply complete this short form. It only takes a few minutes and can provide invaluable advice.

Insurance policy specifics

Knowing the specifics of your policy aids in choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring.

Comprehensive protection

Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things like a tree branch falling on your vehicle, damage from flooding and falling objects. The maximum amount a insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Auto liability insurance

This provides protection from damage or injury you incur to people or other property in an accident. It protects YOU from claims by other people, and does not provide coverage for your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 25/50/25 which stand for $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.

Liability coverage pays for claims such as medical expenses, court costs, loss of income and repair bills for other people’s vehicles. How much liability coverage do you need? That is your choice, but consider buying higher limits if possible.

Medical expense coverage

Medical payments and Personal Injury Protection insurance provide coverage for bills such as prosthetic devices, chiropractic care, doctor visits and rehabilitation expenses. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Uninsured or underinsured coverage

This coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. It can pay for hospital bills for your injuries as well as damage to your 2001 Mercedes-Benz SLK-Class.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Collision insurance

This pays for damage to your SLK-Class resulting from colliding with another vehicle or an object, but not an animal. A deductible applies then your collision coverage will kick in.

Collision can pay for things such as driving through your garage door, hitting a parking meter, rolling your car and backing into a parked car. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. You can also raise the deductible to bring the cost down.

Don’t break the bank

You just read a lot of information how to lower your 2001 Mercedes-Benz SLK-Class insurance premium rates. It’s most important to understand that the more price quotes you have, the better your chances of lowering your prices. You may even find the lowest premium rates come from a small local company.

Insureds leave their current company for a variety of reasons including policy non-renewal, unfair underwriting practices, policy cancellation or an unsatisfactory settlement offer. It doesn’t matter why you want to switch switching companies is less work than it seems.

When searching for cheaper car insurance quotes, never buy less coverage just to save a little money. There are too many instances where an accident victim reduced physical damage coverage only to discover later they didn’t purchase enough coverage. Your goal should be to find the BEST coverage for the lowest cost, not the least amount of coverage.

Additional detailed information can be found at these sites:

• Cellphones, Texting and Driving (iihs.org)
• What are my Rights when Filing a Claim? (Insurance Information Insitute)
• Crash Avoidance Technologies FAQ (iihs.org)
• Keeping Children Safe in Crashes Video (iihs.org)
• Choosing an Insurance Company (Insurance Information Insitute)
• Information for Teen Drivers (Geico)