Lower Your 2008 Mercedes-Benz SLR McLaren Insurance Rates

Consumers should know that most discounts do not apply to the entire policy premium. A few only apply to specific coverage prices like medical payments or collision. Just because it seems like you would end up receiving a 100% discount, insurance companies wouldn’t stay in business. Any amount of discount will cut your policy premium.

Larger auto insurance companies and some of the discounts can be read below.

• Geico discounts include good student, driver training, anti-lock brakes, military active duty, and five-year accident-free.
• Mercury Insurance offers discounts including location of vehicle, ease of repair, multi-car, low natural disaster claims, professional/association, multi-policy, and age of vehicle.
• Farmers Insurance may include discounts for teen driver, switch companies, pay in full, electronic funds transfer, bundle discounts, and youthful driver.
• Auto-Owners Insurance may offer discounts for multiple vehicles, group or association, air bags, multi-policy, and anti-lock brakes.
• Liberty Mutual has savings for teen driver discount, newly retired, multi-policy, new graduate, preferred payment discount, and newly married.
• SAFECO has discounts for accident prevention training, drive less, anti-theft, safe driver, multi-car, and homeowner.
• Progressive may have discounts that include multi-vehicle, continuous coverage, good student, online signing, multi-policy, online quote discount, and homeowner.
• USAA policyholders can earn discounts including multi-vehicle, vehicle storage, driver training, family discount, multi-policy, and safe driver.

If you are trying to find low cost insurance coverage quotes, ask each insurance company to give you their best rates. Some of the earlier mentioned discounts may not apply in every state. To see a list of insurers that provide some of the discounts listed above, click here to view.

Your situation helps dictate your coverage

When choosing proper insurance coverage, there really is not a cookie cutter policy. Coverage needs to be tailored to your specific needs.

For instance, these questions could help you determine whether your personal situation could use an agent’s help.

• Are my tools covered if they get stolen from my vehicle?
• Do I need replacement cost coverage on my 2008 Mercedes-Benz SLR McLaren?
• How much liability do I need to cover my assets?
• When should I drop full coverage on my 2008 Mercedes-Benz SLR McLaren?
• Are split liability limits better than a combined single limit?
• Is my babysitter covered when using my vehicle?
• Does insurance cover damages from a DUI accident?
• Am I covered if I hit my neighbor’s mailbox?
• Is borrowed equipment or tools covered if stolen or damaged?
• Am I covered if I hit a deer?

If you can’t answer these questions, you may need to chat with a licensed agent. To find lower rates from a local agent, simply complete this short form. It is quick, free and can help protect your family.

Specific coverages for a 2008 Mercedes-Benz SLR McLaren

Knowing the specifics of a insurance policy can be of help when determining appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording.

Comprehensive or Other Than Collision – This will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things like damage from flooding, vandalism, rock chips in glass, hitting a bird and a tree branch falling on your vehicle. The maximum amount you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Medical costs insurance – Coverage for medical payments and/or PIP pay for immediate expenses for funeral costs, X-ray expenses and nursing services. The coverages can be used in conjunction with a health insurance plan or if there is no health insurance coverage. They cover both the driver and occupants in addition to getting struck while a pedestrian. PIP is only offered in select states and may carry a deductible

Liability car insurance – This provides protection from damage or injury you incur to other people or property in an accident. It protects YOU from claims by other people, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability can pay for claims like court costs, funeral expenses and bail bonds. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

UM/UIM Coverage – Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family and also any damage incurred to your Mercedes-Benz SLR McLaren.

Due to the fact that many drivers only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Collision coverage – Collision insurance pays for damage to your SLR McLaren resulting from a collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things like backing into a parked car, colliding with a tree, sustaining damage from a pot hole, damaging your car on a curb and colliding with another moving vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to raise the deductible to bring the cost down.

Take this to the bank

While you’re price shopping online, it’s not a good idea to buy poor coverage just to save money. In many cases, an insured dropped uninsured motorist or liability limits and learned later they didn’t purchase enough coverage. Your focus should be to find the BEST coverage for the lowest price while still protecting your assets.

Throughout this article, we presented a lot of techniques to lower your 2008 Mercedes-Benz SLR McLaren insurance auto insurance rates. The key thing to remember is the more providers you compare, the better likelihood of getting inexpensive insurance coverage. You may even find the best auto insurance rates are with the smaller companies.

Cheaper car insurance is possible both online in addition to local insurance agencies, and you should compare price quotes from both in order to have the best price selection to choose from. Some companies don’t offer the ability to get quotes online and usually these regional carriers sell through independent insurance agents.

More detailed car insurance information can be read in these articles:

• Determing Auto Insurance Rates (Geico)
• Event Data Recorders FAQ (iihs.org)
• Protecting Teens from Drunk Driving (Insurance Information Insitute)
• What is a Telematics Device? (Allstate)
• Vehicle Insurance in the U.S. (Wikipedia)
• Protect Yourself Against Auto Theft (Insurance Information Insitute)