Lower Your 2014 Mercedes-Benz SL-Class Insurance Rates

Purchasing the lowest price insurance is challenging for beginners to comparison shopping on the internet. With so many agents and insurance companies available, how are we expected to effectively compare each option to find better rates?

You may qualify for discounts

Companies offering auto insurance don’t always publicize their entire list of discounts in an easy-to-find place, so the next list breaks down a few of the more common and also the more inconspicuous car insurance savings.

• Driver Education Discount – Reduce the cost of insurance for teen drivers by having them sucessfully take a drivers education course as it can save substantially.
• Distant Student – College-age children who live away from home at college and do not have access to a covered vehicle may be able to be covered for less.
• Auto/Home Discount – If you combine your home and auto policies and insure them both with the same insurance company you could get a discount of up to 20% and get you cheap car insurance.
• Discount for Swiching Early – A few insurance companies give discounts for switching companies before your current coverage expires. You may see this discount when you get car insurance quotes online.
• Multiple Vehicles – Drivers who insure multiple vehicles with the same company can reduce the rates for all insured vehicles.
• Air Bags and Passive Restraints – Vehicles with factory air bags or automatic seat belts could see savings of more than 20%.
• Sign Online – Many insurance companies provide a small discount shop car insurance online.
• Good Student – This discount could provide a savings of up to 20% or more. Earning this discount can benefit you up to age 25.

Discounts reduce rates, but you should keep in mind that most discount credits are not given the the whole policy. Some only apply to specific coverage prices like physical damage coverage or medical payments. So even though it sounds like it’s possible to get free car insurance, insurance companies wouldn’t stay in business.

For a list of providers that have a full spectrum of discounts, click this link.

There’s no such thing as the perfect auto insurance policy

When it comes to buying coverage, there really is no perfect coverage plan. Your needs are not the same as everyone else’s.

Here are some questions about coverages that may help highlight whether your personal situation would benefit from professional advice.

• Am I better off with higher deductibles on my 2014 Mercedes-Benz SL-Class?
• When can my company non-renew my policy?
• Should I file a claim if it’s only slightly more than my deductible?
• When should I remove comp and collision on my 2014 Mercedes-Benz SL-Class?
• Do I have coverage for damage caused while driving under the influence?
• Should I put collision coverage on all my vehicles?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form.

Be skeptical of insurance coverage ads

Insurance coverage companies such as Progressive, Geico, Allstate and State Farm endlessly run ads on TV and radio. They all seem to seem to make the promise about how much you will save if you get a free car insurance quote and switch your policy. How do they all claim to save you money? Here is how they do it.

Many companies have an ideal profile for the type of customer that earns them a profit. For instance, a desirable insured might be between the ages of 40 and 55, has no prior claims, and has a high credit rating. Someone who matches those parameters will get a cheap rate quote as well as pay quite a bit less when switching companies.

Drivers who are not a match for these standards will probably have to pay higher prices and this can result in the driver buying from a lower-cost company. The ads state “drivers that switch” not “everyone who quotes” save that much. This is how insurance companies can make it sound like they have such great premium rates.

Because of this risk profiling, you really need to get car insurance quotes from several different companies. Because you cannot predict with any certainty which company will be your best fit.

Insurance specifics

Understanding the coverages of your policy can help you determine the right coverages at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and reading a policy is terribly boring.

Uninsured and underinsured coverage

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

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. So UM/UIM coverage is important protection for you and your family. Normally these coverages are set the same as your liablity limits.

Coverage for liability

Liability insurance protects you from damages or injuries you inflict on people or other property that is your fault. This insurance protects YOU from legal claims by others, and doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 25/50/25 which stand for a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property. Another option is a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.

Liability coverage pays for claims such as attorney fees, pain and suffering, court costs, legal defense fees and medical services. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.

Collision coverage protection

Collision insurance will pay to fix damage to your SL-Class caused by collision with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers claims such as crashing into a building, backing into a parked car, crashing into a ditch, damaging your car on a curb and rolling your car. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. You can also raise the deductible in order to get cheaper collision rates.

Comprehensive coverages

Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims like hitting a deer, rock chips in glass, falling objects, hail damage and a tree branch falling on your vehicle. The maximum amount your insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Coverage for medical payments

Personal Injury Protection (PIP) and medical payments coverage kick in for immediate expenses like nursing services, prosthetic devices and surgery. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. Coverage applies to all vehicle occupants in addition to any family member struck as a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay

More comparisons equals lower rates

In this article, we covered many ways to shop for 2014 Mercedes-Benz SL-Class insurance online. It’s most important to understand that the more quotes you get, the better your chances of lowering your premium rates. You may even find the lowest priced car insurance comes from a lesser-known regional company.

Consumers leave their current company for any number of reasons including policy non-renewal, policy cancellation, delays in paying claims or even not issuing a premium refund. Whatever your reason, finding a new company can be pretty painless.

As you go through the steps to switch your coverage, don’t be tempted to buy less coverage just to save a little money. In too many instances, an insured cut physical damage coverage to discover at claim time that they should have had better coverage. The goal is to find the BEST coverage for the lowest price.

Helpful articles

• Car Insurance FAQ (Trusted Choice)
• State Laws for Cellphones and Texting (iihs.org)
• Property Damage Coverage (Liberty Mutual)
• Learn About Car Insurance (Geico)