How to Insure your Mercedes-Benz CL550 on a Budget
If shopping your car insurance around was fun, we'd do it much more often. But we always seem to pay too much for coverage and most people would rather go to the dentist. Finding insurance for your Mercedes-Benz CL550 that you can actually afford is probably no different.
Step One: Insurance Rate Comparison Quotes
If you haven't priced insurance for awhile, you may still think that the only way to compare rates is to drive around town to multiple insurance offices and meet with an agent. But you can now comparison shop and buy direct online!
The first step to finding lower Mercedes-Benz CL550 rates is to get quotes from all the major car insurance companies. This is fast and easy and only requires you to complete one form.
To start, click the link below to begin entering your information. After you complete the form, you will receive comparison rates from different companies so you easily determine if you can save money.
Read this (it's important)! When doing any car insurance quote to compare rates to either your existing policy or to other quotes, it's important to use identical coverages on all quotes. Otherwise you will not be able to accurately determine which company has the lowest rate for your CL550.
Step Two: Techniques to Lower your CL550 Insurance Rates
There are many contributing factors that determine what you pay to insure your Mercedes-Benz. You can help yourself (and your wallet) by paying attention to the following rate factors.
- The performance boost offered by your Mercedes-Benz CL550 is going to force you to spend more for insurance. Consider trading for a lower performance vehicle in order to bring down your rates.
- If you're not sure what your credit rating is, check it now. Car insurance companies use your credit score to determine the rates you pay, so the better your credit, the less you will pay.
- OEM repair parts for the CL550 cost more due to the higher quality. You will pay more for insurance because of this.
- Having recently completed a class in driver's safety could earn you a discount of 5% to 10%. Check with your insurance company to see if they offer that credit.
- If switching companies, always have the effective date of the new policy be identical to the expiration date on the old policy. This prevents a lapse in coverage and companies charge higher rates if you have any lapses.
- Renting a house or apartment rather than owning a home may keep you from paying the lowest rates on car insurance. Home ownership is viewed as being more financially responsible than renting.
- Being a senior citizen can qualify you for a small discount on your insurance rates. Older drivers are generally more cautious so they get a lower rate.
- Before a comprehensive or collision claim is paid by your company, you have to pay a deductible first. The more you're willing to pay, the lower your rates will be. Consider raising your deductibles to $500 or even $1,000.
- Teen drivers are expensive to insure and the only way to lower your rates is to rate them on an older vehicle with basic liability coverage.
- One of the easiest ways to keep your rates down is to drive safe. One speeding ticket can boost your rates for three years.
- The advancement of car safety features such as traction control, stability control, front and side-impact air bags and all-wheel drive all help keep insurance costs down.
- If you can afford to pay for small claims like a broken windshield out of pocket, it will keep small claims off your record and give you a claim-free discount.
- For some reason, car theives target particular makes and models more than others. If your CL550 is on the list of the top stolen cars, you might want to install an extra theft deterrent system just to be safe.
Step Three: Bind Coverage and Cancel your Old Policy
Car insurance is pretty easy to buy online, but you do need to be aware that it is a legally binding contract. You need to have funds available for a down payment as well as review your coverages for any insufficiencies.
If you didn't have a prior policy, then you can make the new policy effective any time. But if you're moving bewteen companies and don't want a lapse in coverage, make sure the effective date of the new policy is exactly the same as the cancellation date of the old policy.
Before you drive your Mercedes-Benz CL550 home, make sure you have a current car insurance policy in force. Coverage will extend to the new purchase from your policy, but if you don't have a policy then you have no protection. Most car insurance companies will extend coverage to newly purchased vehicles, but only up to the limits of the best insured vehicle. So if you only carry liability insurance and no physical damage coverage, your new purchase will be inadequately insured until you specifically add it to the policy with full coverage.
Upon completion of buying your policy, you need to print out the financial responsibility card that must be kept in your vehicle at all times. Replace any old cards and promptly replace expired cards. If you qualilfy as a high-risk driver after being convicted of a DUI, reckless driving or driving on a suspended license, you may be required to file an SR-22 with your state's DMV. Be sure your new car insurance company is aware of this filing requirement.
Additional Learning Resources
To read more about filing a claim, choosing replacement parts, rental car insurance and more, visit the Insurance Information Institute.
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