Consumers Find How to Pay Less for Mercedes-Benz S550 Insurance

Are you tired of paying out the nose each month for car insurance? You are no different than millions of other consumers. There is such a variety of auto insurance companies to purchase coverage from, and although it’s nice to have a selection, it makes it harder to compare rates and cut insurance costs.

You should make it a habit to check car insurance prices once or twice a year because rates change frequently. Even if you think you had the best rates for S550 coverage on your last policy there is a good chance you can find better rates now. Forget all the misinformation about car insurance because we’re going to demonstrate the things you must know in order to find better coverage at a better price.

Finding affordable coverage is quite easy. If you are insured now or are shopping for new coverage, you will benefit by learning to get lower rates while maintaining coverages. Drivers just need to learn the tricks to get comparison rates on the web.

Policy discounts you shouldn’t miss

Companies offering auto insurance do not advertise all available discounts very well, so the following is a list of both well-publicized and also the lesser-known discounts you could be receiving. If you don’t get every credit possible, you’re paying more than you need to.

• New Vehicle Savings – Putting insurance coverage on a new car can be considerably cheaper compared to insuring an older model.
• Low Mileage Discounts – Driving fewer miles could qualify for better rates on cars that stay parked.
• Multiple Vehicles – Insuring multiple vehicles on one policy may reduce the rate for each vehicle.
• Air Bag Discount – Cars that have air bags and/or automatic seat belt systems can get savings of more than 20%.
• Drivers Ed for Students – Require your teen driver to take driver’s ed class if it’s offered in school.
• Anti-lock Brake Discount – Anti-lock brake equipped vehicles prevent accidents and will save you 10% or more.
• No Charge for an Accident – A handful of insurance companies will allow you to have one accident before raising your premiums as long as you don’t have any claims for a particular time prior to the accident.

Keep in mind that most discount credits are not given to the entire policy premium. A few only apply to specific coverage prices like comp or med pay. Even though it may seem like you can get free auto insurance, you won’t be that lucky.

To see a list of companies offering car insurance discounts, click this link.

Car Insurance Comparison Rates

Finding a lower price on Mercedes-Benz S550 insurance can be relatively painless. All you need to do is take a few minutes comparing price quotes from different insurance companies. This is very easy and can be done in just a few minutes using one of these methods.

One of the simplest ways to get quotes is a comparison rater form click here to open form in new window. This type of form keeps you from doing boring form submissions to each individual car insurance company. Filling out one form will get you price quotes from multiple companies.

A harder way to find lower rates is to take the time to go to each company website to complete their respective quote request forms. For sake of this example, let’s say you want rates from GEICO, State Farm and Farmers. To get rate quotes you would need to take the time to go to each site to enter your coverage information, and that’s why the first method is more popular.

For a list of links to companies insuring cars in your area, click here.

The least efficient way of comparing rate quotes is driving to local insurance agencies. Shopping for car insurance online can eliminate the need for a local agent unless you have a need for the professional guidance of a local agent. Drivers can find lower rates online but buy from a local insurance agent and we’ll cover that in a bit.

Whichever way you use, make sure you use the exact same coverage limits and deductibles for every quote you compare. If you enter different limits and deductibles on each one you can’t possibly determine the best price for your Mercedes-Benz S550.

Mercedes-Benz S550 premiums are determined by many factors

It’s important that you understand the different types of things that go into determining car insurance rates. Having a good understanding of what determines base rates helps enable you to make changes that will entitle you to big savings.

• Safer cars are cheaper to insure – Cars with high safety ratings can get you lower premiums. These vehicles reduce injuries and any reduction in injury severity translates into savings for insurance companies and more competitive rates for policyholders. If your Mercedes-Benz S550 has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
• Poor driving leads to higher costs – Your driving citation history has a huge affect on how much you pay. Just one speeding ticket can increase rates twenty percent or more. Good drivers tend to pay less for car insurance than their less careful counterparts. Drivers who have dangerous citations such as DWI, reckless driving or hit and run convictions may need to submit a SR-22 form with the DMV in their state in order to prevent a license revocation.
• Older drivers save more – Youthful drivers are known to be more careless in a vehicle so they pay higher car insurance rates. Mature drivers are viewed as being more responsible, statistically cause fewer accidents and get fewer tickets.
• High deductibles save money – Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, is used to repair damage to your Mercedes-Benz. Some instances where coverage would apply are colliding with a building, vandalism, and rolling your vehicle. Deductibles for physical damage are how much you are required to spend before your car insurance pays a claim. The higher the amount you are required to pay out-of-pocket, the less your company will charge you for insurance for S550 coverage.
• The more you drive the more you pay – The more you drive each year the higher your rate. Most insurance companies apply a rate based on their usage. Vehicles that are left in the garage qualify for better rates than vehicles that are driven to work every day. Verify your car insurance policy shows the correct driver usage. If your policy improperly rates your S550 can result in significantly higher rates.
• How credit affects car insurance rates – Having a bad credit history is a big factor in determining your rates. Therefore, if your credit score is not that good, you could be paying less to insure your Mercedes-Benz S550 by repairing your credit. Consumers who have good credit tend to be less risk to insure than those with lower credit scores.
• Is your vehicle built for speed? – The make and model of the car you own makes a big difference in the rate you pay. The most favorable rates are generally reserved for small economy passenger vehicles, but the cost you end up paying is determined by many additional factors. Because the Mercedes-Benz S550 is a luxury sedan, rates will be more than the average rate where you live.
• More than one policy can earn a discount – Many insurance companies will award you with lower prices to people who carry more than one policy such as combining an auto and homeowners policy. Discounts can be 10 percent or more. Even though this discount sounds good, you may still want to comparison shop to ensure the best deal. You may still find better rates by buying insurance from more than one company.

What coverages do I need?

When buying coverage, there is no “perfect” insurance plan. Every situation is different and your policy should reflect that. For instance, these questions may help highlight whether or not you will benefit from professional help.

• How many claims can I have before being cancelled?
• Is my nanny covered when driving my vehicle?
• Can I afford low physical damage deductibles?
• What if I don’t agree with a claim settlement offer?
• What is covered by UM/UIM coverage?
• Is my Mercedes-Benz S550 covered for smoke damage?

If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to an insurance agent. If you don’t have a local agent, take a second and complete this form or go to this page to view a list of companies. It only takes a few minutes and you can get the answers you need.

Local agents and car insurance

Certain consumers prefer to buy from a licensed agent and there is nothing wrong with that. Educated insurance agents are trained to spot inefficiencies and give you someone to call. The biggest benefit of comparing insurance prices online is that you can obtain the lowest rates and still have an agent to talk to.

To help locate an agent, after submitting this form (opens in new window), the quote information is instantly submitted to insurance agents who will return price quotes for your business. There is no need to drive around due to the fact that quote results will go immediately to your email address. How cool is that?!

Deciding on an insurance company needs to be determined by more than just a cheap price. Any agent should have no problem answering these questions:

• Are they properly licensed to sell insurance in your state?
• Does the agency provide any after hours assistance?
• Are you getting all the discounts the company offers?
• How long has their agency been in business?
• Which insurance companies are they affiliated with?
• Will your rates increase after a single accident?
• Does the company allow you to choose your own collision repair facility?

The difference between insurance agencies

When researching a good insurance agent, you must know there are a couple types of insurance agents to choose from. Agents can either be captive or independent (non-captive). Either one can do a good job, but it’s good to learn how they are different because it can impact buying decisions.

Captive Insurance Agents

Captive agents work for only one company and examples are AAA, Allstate, State Farm, Farmers Insurance or Liberty Mutual. They usually cannot provide prices from multiple companies so they have to upsell other benefits. These agents are usually quite knowledgeable in insurance sales and that can be a competitive advantage.

Independent Insurance Agents

Independent insurance agents are not locked into one company but instead can place your coverage with many different companies depending on which coverage is best. To transfer your coverage to a different company, the business is moved internally and you don’t have to find a new agent. When comparing rates, we recommend you include at least one independent agent to ensure the widest selection of prices.

To view a full list of car insurance agents, click here.

Upon receiving answers to your satisfaction as well as a affordable price, chances are good that you have found an insurance agency that meets your needs to adequately provide car insurance.

Do drivers who switch really save $435 a year?

Consumers get pounded daily by advertisements for car insurance savings from the likes of Progressive, Allstate and GEICO. They all seem to say the same thing about savings if you change your coverage to them.

How does each company make the same claim?

Insurance companies can use profiling for the driver that makes them money. A good example of a driver they prefer might be profiled as over the age of 40, has no driving citations, and has a short commute. A driver who fits that profile will get the preferred rates and most likely will pay quite a bit less when switching companies.

Drivers who don’t measure up to the requirements will be quoted higher rates and ends up with business not being written. The ads say “people who switch” not “everyone that quotes” save that kind of money. That’s the way insurance companies can confidently claim big savings. This emphasizes why it’s extremely important to get as many quotes as possible. It’s not possible to predict the company that will fit your personal profile best.

Keep this in mind

As you go through the steps to switch your coverage, it’s a bad idea to sacrifice coverage to reduce premiums. Too many times, an insured dropped liability limits or collision coverage only to find out that the savings was not a smart move. The aim is to get the best coverage possible for the lowest price.

We just covered many tips how you can get a better price on Mercedes-Benz S550 insurance. It’s most important to understand that the more rate quotes you have, the higher the chance of saving money. Drivers may discover the best price on car insurance is with a small mutual company. Regional companies can often insure niche markets at a lower cost than the large multi-state companies such as Progressive and GEICO.