Three Steps to Cheaper Mercedes-Benz E550 Insurance
If comparing car insurance was easy, most of us would do it more often. But the premiums we pay always seem to be too high and most of use would rather get a tooth pulled. Finding good insurance for your Mercedes-Benz E550 probably leaves you feeling the same way.
Step One: Compare Multiple Rates
Years ago, your local insurance agent was the only way to quote a buy a car insurance policy. Life has gotten easier!
Comparing apples-to-apples price quotes for your Mercedes-Benz E550 is made easy by only requiring one form to be completed. This will shop your coverage with multiple companies and allow you to easily compare rates.
To compare rates now, have your current policy handy (if you have one) and click the link below. Complete the short form and move on to step two.
Apples-to-Apples! When doing comparison quotes for your E550, it's very important that you use the same liability limits and physical damage deductibles on each quote. Otherwise you will not be able to accurately determine which company has the lowest rates.
Step Two: Tried and True Ways to Save on E550 Insurance
After completing step one above, you can now learn some of the other ways to slash your E550 insurance costs.
- The Mercedes-Benz E550 is a higher performance vehicle, but do you really need the increased speed or power? Vehicles with more moderate performance are usually cheaper to insure.
- If your city or county offers a driver's safety course, find out if your insurance company will give you a discount to complete it. It could save you up to 10%.
- The cost to repair luxury vehicles is generally more than the cost to repair your average domestic family sedan. Everything from paint to bumpers to windshields costs more for the E550 so expect to pay more for insurance.
- Car insurance disounts for senior citizens are often offered by companies as well as discounts for belonging to a professional organization.
- Every parent dreads the day when their teenager gets added to their policy. If you are a teenager, or if you have one on your policy, expect to pay significantly more each year.
- A claim-free discount can help keep your rates down, so don't file claims that are only marginally more than your deductible. You're better off keeping the discount.
- How's your credit score? If it's good you will pay a lower rate than your poor credit counterparts. Work on improving weak credit and you will eventually see your car insurance bill go down.
- Bundling your auto and home insurance with the same company can often get you a discount, and just being a homeowner in itself will get you a lower rate.
- One of the easiest ways to cut your rates is to increase your comprehensive and collision deductibles. By having a higher deductible like $500 or even $1,000, you can save 30% or more on physical damage coverage.
- Newer car models are coming standard with advanced passenger safety systems, and these help reduce the risk of injury in an accident. Less injuries mean lower insurance rates.
- A single speeding ticket can cost you several hundreds of dollars over the next three years thanks to increased car insurance rates. Slow down and drive safely.
- If you have a period where you don't have any insurance coverage, that's called a lapse. The longer the lapse, the more you'll pay to reinstate coverage.
- Vehicle thefts drive up the cost of everyone's insurance, but if your E550 is on the list of the most frequently stolen cars, you might be paying just a little extra.
Step Three: Buy the Best Policy
Knowing which company to insure your E550 with is more than just choosing the lowest rate. You also need to be ready to put a down payment on your policy and make sure you have all the proper coverages in place.
Make sure to avoid any lapse in coverage by setting the new policy's effective date to be the same date you cancel your old policy. Otherwise you could be driving without any coverage.
When buying a new vehicle, coverage will extend from your existing policy. But if you don't have a car insurance policy, you will want to make sure you have coverage BEFORE you drive off the lot. Comprehensive (or Other than Collision) and collision coverage will extend to your new E550 if you current have a vehicle insured with those coverages. If you aren't insured or only carry basic liability coverage, then you will be inadequately insured until you add the vehicle to your policy with full coverage.
Once you finish buying your new policy, you will need to print out the proof-of-insurance card that is provided by your new company. This card is proof that you meet the state's minimum liability limits and is required to be kept in your vehicle. If you're considered a high-risk driver, having been convicted of a DUI, DWI, reckless driving or had your license suspended, you may need to file a SR-22. Be sure your new company files this form with your state DMV. Failure to do so can result in losing your right to drive.
Consumer Insurance Information
For more information on car insurance topics like the claims process, rental car insurance and how much coverage you need, visit the Insurance Information Institute website.