7 Tricks Guaranteed to Save Money on Mercedes-Benz ML550 Auto Insurance Rates

Are you regretting the purchase of overpriced auto insurance? Don’t feel bad because there are lots of residents who feel the same. Companies like State Farm, GEICO and Farmers Insurance persitently shower you with advertising and it can be hard to see past the corporate glitz and do the work needed to find the best deal.

You should take the time to do price comparisons yearly since insurance rates are usually higher with each renewal. Despite the fact that you may have had the best rate on ML550 insurance a couple years back you will most likely find a better price today. Forget anything you know (or think you know) about auto insurance because I’m going to teach you the easiest way to find lower rates on auto insurance.

There are multiple methods you can shop for auto insurance but there is one way that is easier and takes less work. You could spend your day driving to insurance companies in your area, or you can stay home and use online quotes to get the quickest rates.

Many insurance companies belong to an insurance system where insurance shoppers enter their policy data once, and each participating company returns a competitive quote based on the submitted data. This system prevents you from having to do form submissions to each company.

To find out how much you’re overpaying now click here to start a free quote.

The one downside to getting quotes like this is you don’t know exactly which companies you will receive quotes from. If you would rather choose specific insurance companies to request quotes from, we have a page of low cost auto insurance companies in your area. View list of insurance companies.

However you get your quotes, do your best to enter nearly identical quote information for each price quote. If you use different liability limits it will be impossible to determine which rate is truly the best.

Affordable auto insurance rates with discounts

Car insurance companies do not list all possible discounts very well, so the following list contains both well-publicized as well as some of the hidden discounts you could be receiving when you .

• Telematics Data Discounts – Insureds that choose to allow their insurance company to analyze where and when they drive by using a telematic data system such as Allstate’s Drivewise and State Farm’s In-Drive system could see a rate decrease if they show good driving skills.
• Passive Restraints and Air Bags – Options like air bags and/or automatic seat belt systems could see savings of 25 to 30%.
• Federal Employees – Active or retired federal employment can save as much as 8% on ML550 insurance depending on your company.
• Savings for New Vehicles – Insuring a vehicle that is new can save you some money because new model year vehicles are generally safer.
• Professional Organizations – Being in qualifying employment or professional organizations is a simple method to lower premiums on your policy.
• Renewal Discounts – Some auto insurance companies provide a discount for switching companies early. It could save around 10% when you .
• Anti-lock Brake Discount – Cars and trucks with ABS braking systems or traction control are safer to drive so you can save 10 percent or more.

Policy discounts save money, but some credits don’t apply the the whole policy. Most only cut specific coverage prices like collision or personal injury protection. So even though they make it sound like all those discounts means the company will pay you, companies don’t profit that way.

A list of companies and a summarized list of policyholder discounts are:

• State Farm may offer discounts for multiple autos, multiple policy, anti-theft, Drive Safe & Save, defensive driving training, and good student.
• GEICO has discounts for defensive driver, multi-policy, driver training, military active duty, five-year accident-free, and good student.
• SAFECO offers discounts for accident prevention training, anti-lock brakes, bundle discounts, anti-theft, and safe driver.
• Farmers Insurance includes discounts for good student, homeowner, youthful driver, mature driver, teen driver, early shopping, and pay in full.
• AAA has savings for pay-in-full, good driver, AAA membership discount, anti-theft, and multi-car.
• USAA policyholders can earn discounts including military installation, safe driver, family discount, multi-policy, and multi-vehicle.

Double check with every prospective company which discounts you may be entitled to. Some discounts may not be available in your area.

Car insurance 101

Knowing the specifics of a auto insurance policy aids in choosing the right coverages at the best deductibles and correct limits. Auto insurance terms can be difficult to understand and coverage can change by endorsement. Listed below are the usual coverages found on the average auto insurance policy.

Coverage for liability

Liability insurance can cover damage that occurs to people or other property. It protects YOU from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 50/100/50 that means you have a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property. Another option is one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things like court costs, legal defense fees, medical expenses, structural damage and medical services. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase higher limits if possible.

Insurance for medical payments

Coverage for medical payments and/or PIP provide coverage for bills such as rehabilitation expenses, pain medications, ambulance fees, nursing services and hospital visits. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and will also cover any family member struck as a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay

Uninsured Motorist or Underinsured Motorist insurance

This coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Mercedes-Benz ML550.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea. Usually your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Auto collision coverage

Collision insurance covers damage to your ML550 resulting from a collision with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as colliding with another moving vehicle, crashing into a ditch, driving through your garage door and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. It’s also possible to bump up the deductible to save money on collision insurance.

Comprehensive coverage (or Other than Collision)

This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things such as hitting a bird, damage from flooding, a tree branch falling on your vehicle and vandalism. The maximum payout your auto insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Best coverage at the best price

Cheap Mercedes-Benz ML550 insurance is attainable online and from local agencies, so you should be comparing quotes from both to have the best chance of lowering rates. Some companies do not offer online rate quotes and most of the time these small insurance companies work with independent insurance agencies.

When shopping online for auto insurance, make sure you don’t sacrifice coverage to reduce premiums. There are a lot of situations where someone dropped collision coverage only to find out they didn’t purchase enough coverage. Your goal should be to get the best coverage possible for the lowest price but still have enough coverage for asset protection.