Did you fall for a flashy sales pitch and buy an underperforming, overpriced insurance policy? It’s a common feeling and many consumers are feeling buyer’s remorse and feel like there’s no way out. Numerous insurance companies battle to insure your vehicles, and it can be difficult to compare rates to find the absolute lowest rate
Some providers don’t list every available discount in a way that’s easy to find, so the list below details a few of the more common as well as the least known credits available to lower your premiums when you buy auto insurance online. If you aren’t receiving every discount you qualify for, you could be getting lower rates.
We need to note that most credits do not apply to the entire policy premium. Some only reduce individual premiums such as comp or med pay. Just because you may think all the discounts add up to a free policy, nobody gets a free ride.
If you would like to view providers who offer free auto insurance quotes, click here.
Effectively comparing insurance prices can be a lot of work if you don’t know the most efficient way to do it. You could spend the better part of a day discussing policy coverages with insurance agencies in your area, or you could use the web to get pricing more quickly.
Most of the best insurance companies are enrolled in a marketplace where insurance shoppers enter their policy data once, and at least one company returns a competitive quote determined by their information. This prevents consumers from doing quote forms for each company you want a rate for.
To compare rates using this form now click here to start a free quote.
The only downside to using this type of form is you are unable to specify the companies to receive prices from. If you wish to select individual companies for rate comparison, we put together a list of low cost insurance companies in your area. Click to view list.
It’s up to you how you get prices quotes, just make sure you are using apples-to-apples coverages and limits for every company. If you have unequal deductibles or liability limits it’s impossible to make a fair comparison for your Mercedes-Benz SL-Class.
It’s important that you understand the rating factors that come into play when calculating the rates you pay for auto insurance. If you have some idea of what influences your rates, this enables you to make decisions that will entitle you to lower rates.
The factors shown below are some of the factors companies use to determine your rates.
When choosing the right insurance coverage, there really is no best way to insure your cars. Your needs are not the same as everyone else’s so your insurance should reflect that For instance, these questions may help you determine if you would benefit from an agent’s advice.
If it’s difficult to answer those questions, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, complete this form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and can provide invaluable advice.
Consumers constantly see and hear ads that claim the lowest premium rates from the likes of State Farm, Allstate and GEICO. They all make an identical promise that you can save after switching your insurance coverage to their company.
How do they all have lower policy pricing? Just pay attention to how they say it.
Insurance companies give the cheapest rates for the type of insured they prefer to insure. A good example of a preferred risk might have to be between the ages of 30 and 50, has a clean driving record, and has excellent credit. A customer who matches that profile will most likely get cheap premium rates and therefore will save a lot if they switch.
Potential customers who may not quite match those criteria will have to pay a higher rate and this can result in the customer buying from a different company. The ads say “customers that switch” but not “all drivers who get quotes” can get the lowest rates when switching. This is how companies can truthfully advertise the way they do.
Because each company has a different risk profile, drivers must do a rate comparison at every renewal. Because without a comparison, you cannot know with any certainty which company will have the lowest rates.
Understanding the coverages of your car insurance policy helps when choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be ambiguous and reading a policy is terribly boring. Listed below are typical coverages offered by car insurance companies.
Coverage for liability – Liability coverage protects you from damage that occurs to other people or property by causing an accident. This insurance protects YOU from legal claims by others, and does not provide coverage for damage sustained by your vehicle in an accident.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Some companies may use one number which is a combined single limit which combines the three limits into one amount with no separate limits for injury or property damage.
Liability can pay for things such as loss of income, court costs, repair costs for stationary objects and structural damage. How much coverage you buy is a personal decision, but consider buying as large an amount as possible.
Coverage for uninsured or underinsured drivers – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your Mercedes-Benz SL-Class.
Since a lot of drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked. Frequently these coverages are similar to your liability insurance amounts.
Collision coverages – Collision insurance covers damage to your SL-Class resulting from colliding with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision can pay for things like rolling your car, colliding with a tree, crashing into a building, scraping a guard rail and damaging your car on a curb. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. Drivers also have the option to increase the deductible to bring the cost down.
Comprehensive car insurance – Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims such as hitting a bird, damage from flooding, a tree branch falling on your vehicle, hitting a deer and damage from a tornado or hurricane. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Coverage for medical expenses – Med pay and PIP coverage kick in for immediate expenses such as surgery, chiropractic care and funeral costs. They are often used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. They cover you and your occupants as well as if you are hit as a while walking down the street. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
We just presented a lot of ways to lower your 2012 Mercedes-Benz SL-Class insurance rates. The most important thing to understand is the more providers you compare, the higher your chance of finding inexpensive auto insurance. Consumers could even find that the biggest savings come from the smaller companies. Some small companies can often insure niche markets at a lower cost than their larger competitors like Allstate, GEICO and Progressive.
As you shop your coverage around, never reduce coverage to reduce premium. In many instances, someone dropped full coverage and discovered at claim time they didn’t purchase enough coverage. Your focus should be to find the BEST coverage at the best cost, not the least amount of coverage.
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