Top 6 Tricks to Save on Mercedes-Benz 500SEL Insurance

Shoppers have a choice when shopping for low-cost Mercedes-Benz 500SEL insurance. You can either spend your time struggling with agents to get rate comparisons or use the internet to get rate quotes. There is a right way and a wrong way to compare car insurance rates and we’ll show you the best way to compare rates for a Mercedes-Benz and find the lowest possible price.

If you have car insurance now, you will be able to reduce your rates substantially using these methods. This article will teach you the most effective way to quote insurance and some money-saving tips. But vehicle owners need to learn the way insurance companies price online insurance and use this information to your advantage.

Cheapest car insurance price quotes

To find the best car insurance rates, there are several ways of comparing rates from many car insurance companies in your state. The recommended way to comparison shop is to perform an online rate comparison. It is quite easy and can be accomplished using a couple different methods.

1. If you don’t have a lot of time, the easiest way to compare a lot of rates at once would be an industry-wide quote request form like this one (opens in new window). This quick form eliminates the need for repetitive form submissions for each price estimate. Completing one form will return quotes from several companies. It’s the fastest way to compare.
2. A less efficient way to analyze rates requires you to visit each company’s website and request a quote. For examples sake, we’ll pretend you want comparison quotes from Farmers, State Farm and Travelers. To do that, you would have to go to every website and repeatedly enter your information, which can get rather old.

   For a handy list of car insurance company links in your area, click here.

3. The final way to price shop rates is to spend your day driving to insurance agents’ offices. The fact that you can get quotes online makes this process obsolete unless you require the professional advice of a licensed agent. It is possible to comparison shop online but buy from a local insurance agent.

You can choose any of those ways to find more affodable coverage, but make sure you are using identical coverages for each comparison quote. If you compare different data it’s impossible to find the best deal for your Mercedes-Benz 500SEL. Slightly different insurance coverages could mean much higher rates. It’s important to know that comparing a large number of companies will enable you to find more affordable rates.

Six discounts to earn lower car insurance rates

Not many people think insurance is cheap, but you might find some hidden discounts that many consumers don’t even know exist. Certain reductions will be credited when you get a quote, but once in a while a discount must be specifically requested before being credited.

• Government Employee Discount – Having worked for a branch of the government could provide a small rate reduction for 500SEL coverage depending on your car insurance provider.
• Military Discounts – Having a deployed family member could trigger a small discount.
• Telematics Devices – Drivers that enable data collection to look at their driving habits by using a telematic data system such as Allstate’s Drivewise and State Farm’s In-Drive system might get better premium rates as long as they are good drivers.
• Home Ownership Discount – Owning your own home or condo can save you money because maintaining a house requires personal responsibility.
• Accident-Free Discounts – Drivers with accident-free driving histories can earn big discounts as opposed to drivers with a long claim history.
• Defensive Driving Course – Participating in a course teaching defensive driving skills can save you 5% or more if your company offers it.

Discounts reduce rates, but you should keep in mind that most credits do not apply the the whole policy. Most only reduce specific coverage prices like liability, collision or medical payments. Just because you may think you could get a free car insurance policy, it just doesn’t work that way.

To choose companies with significant discounts, follow this link.

Tailor your car insurance coverage to you

When choosing the right insurance coverage for your personal vehicles, there isn’t really a “perfect” insurance plan. Your needs are not the same as everyone else’s.

For example, these questions can aid in determining if your insurance needs will benefit from professional help.

• Do I need added coverage for expensive stereo equipment?
• Which companies will insure high-risk drivers?
• What is covered by UM/UIM coverage?
• What discounts do I qualify for?
• What are no-fault laws?
• What is the difference between comprehensive and collision coverage?

If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to an agent. To find an agent in your area, simply complete this short form.

Car insurance coverages 101

Having a good grasp of your policy can be of help when determining appropriate coverage for your vehicles. Car insurance terms can be confusing and nobody wants to actually read their policy.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants and damage to your Mercedes-Benz 500SEL.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Collision coverage protection

This coverage pays for damage to your 500SEL resulting from colliding with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things such as hitting a parking meter, crashing into a ditch and scraping a guard rail. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. Another option is to raise the deductible to save money on collision insurance.

Medical costs insurance

Coverage for medical payments and/or PIP reimburse you for expenses such as dental work, hospital visits, doctor visits, ambulance fees and X-ray expenses. They are used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. It covers both the driver and occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not universally available but can be used in place of medical payments coverage

Comprehensive or Other Than Collision

Comprehensive insurance coverage pays for damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things like falling objects, a tree branch falling on your vehicle and damage from getting keyed. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Auto liability insurance

This coverage protects you from damages or injuries you inflict on other people or property. It protects you from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 50/100/50 that translate to a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property.

Liability coverage pays for claims like structural damage, repair bills for other people’s vehicles, medical expenses, funeral expenses and repair costs for stationary objects. How much coverage you buy is a decision to put some thought into, but you should buy higher limits if possible.