Drivers Who Know These Tricks Save More on Mercedes-Benz S500 Insurance

Are you sick and tired of robbing Peter to pay Paul to insure your Mercedes-Benz every month? You’re in the same situation as many other drivers.

Because you have many car insurance companies to choose from, it’s nearly impossible to choose the most affordable provider.

You need to compare rates periodically due to the fact that insurance rates are constantly changing. Just because you found the lowest rates on S500 coverage on your last policy the chances are good that you can find a lower rate today. So just block out anything you think you know about car insurance because we’re going to show you the fastest way to reduce your cost while increasing coverage.

Finding the best rates is easy if you know what you’re doing. Basically, every vehicle owner who is shopping for car insurance most likely will be able to reduce their rates. Nevertheless, drivers can benefit by having an understanding of how big insurance companies determine prices and take advantage of how the system works.

Why your Mercedes-Benz S500 might be costing you more

It’s important that you understand the different types of things that come into play when calculating your car insurance rates. When you know what positively or negatively impacts premium levels allows you to make educated decisions that can help you get better car insurance rates.

• Men are more aggressive – Statistics demonstrate women tend to be less risk to insure than men. However, don’t assume that women are BETTER drivers than men. Women and men cause accidents at about the same rate, but the men cause more damage and cost insurance companies more money. Men also statistically have more aggressive citations such as reckless driving.
• Where you live can impact rates – Residing in small towns and rural areas can save you money when it comes to car insurance. Fewer people means reduced accidents and also fewer theft and vandalism claims. City drivers have to deal with traffic congestion and much longer commute distances. More time on the road translates into higher accident risk.
• Teen drivers pay high rates – Teen drivers are statistically proven to get distracted easily when driving so they pay higher car insurance rates. Parents adding a young driver to your car insurance policy can break the bank. More mature drivers are more responsible, tend to file fewer claims and receive fewer citations.
• More performance means more cost – The performance level of the car you drive makes a huge difference in your rates. Since the Mercedes-Benz S500 is classified as a luxury sedan, insuring your vehicle will cost more compared to average rates. Small economy passenger models generally receive the lowest base rates, but other factors influence the final cost greatly.
• Your stress level may be raising your rates – Did you know your occupation can influence how much you pay for car insurance? Occupations such as lawyers, executives and stock brokers tend to have the highest rates attributed to stressful work requirements and lengthy work days. On the other hand, jobs such as farmers, students and homemakers receive lower rates on S500 coverage.
• More claims means more premium – If you tend to file frequent claims, you can definitely plan on either policy cancellation or increased premiums. Companies provide better rates to people who file claims infrequently. Your insurance policy is meant to be used in the event of major claims that would cause financial hardship.
• Bad driving skills means higher rates – Your driving citation history has a big impact on rates. Just one citation can increase rates twenty percent or more. Good drivers have lower premiums than their less careful counterparts. Drivers who have dangerous citations like DWI, reckless driving or hit and run convictions may need to file a SR-22 with their state DMV in order to prevent a license revocation.

Compare the Market for Car Insurance

The are a couple different ways of comparing rate quotes from car insurance companies in your area. The easiest way to compare insurance prices is to perform an online rate comparison. This is very easy and can be done in just a few minutes using one of these methods.

1. The most efficient way to get quotes is a comparison rater form like this one (opens in new window). This type of form saves time by eliminating separate forms for each company. Completing one form gets you coverage quotes from many national carriers.
2. A harder way to get quotes online is to take the time to go to each individual company website to complete a price quote. For instance, we’ll assume you want rates from Liberty Mutual, Safeco and Travelers. To get rate quotes you would need to visit each site to input your insurance information, which is why the first method is more popular.

   To view a list of companies in your area, click here.

Which method you use is up to you, but make absolute certain that you use identical coverage information for each comparison quote. If you have differing limits it’s not possible to make an equal comparison. Quoting even small variations in coverages could mean much higher rates. Just remember that quoting more will enable you to find the best rates.

Can you really save $414 a year?

Companies like State Farm, GEICO and Progressive regularly use ads in print and on television. All the ads have a common claim that you’ll save big if you move to them. How can each company claim to save you money?

All companies have a preferred profile for the type of driver that earns them a profit. A good example of a driver they prefer might be a mature driver, has no tickets, and drives less than 10,000 miles a year. A driver who matches those parameters gets the lowest rates and therefore will save a lot of money.

Potential customers who don’t meet this ideal profile will be charged a higher premium and ends up with business going elsewhere. The ad wording is “customers that switch” not “people who quote” save money. This is how companies can truthfully claim big savings. That is why you should quote coverage with many companies. It’s impossible to know which company will give you the biggest savings.

These discounts can lower your rates

Companies that sell car insurance don’t always publicize all available discounts very well, so we took the time to find both the well known as well as the least known car insurance savings.

• Multiple Vehicles – Having multiple vehicles with the same company may reduce the rate for each vehicle.
• 55 and Retired – Older drivers may qualify for a discount up to 10% on S500 coverage.
• Use Seat Belts – Buckling up and requiring all passengers to use a seat belt could save 15% off your PIP or medical payments premium.
• Accident Forgiveness – A few companies will allow you to have one accident without raising rates if you are claim-free prior to the accident.
• Theft Prevention System – Anti-theft and alarm systems are stolen less frequently and therefore earn up to a 10% discount.
• Anti-lock Brake Discount – Vehicles equipped with ABS or steering control can avoid accidents and earn discounts up to 10%.
• Auto/Life Discount – Select insurance companies reward you with better rates if you take out life insurance.

Keep in mind that most discount credits are not given to the entire policy premium. The majority will only reduce individual premiums such as medical payments or collision. Just because it seems like adding up those discounts means a free policy, you’re out of luck.

Different people need different coverages

When it comes to choosing proper insurance coverage for your vehicles, there is no single plan that fits everyone. Coverage needs to be tailored to your specific needs and your policy should reflect that. These are some specific questions may help highlight if your insurance needs would benefit from professional advice.

• Am I covered when pulling a rental trailer?
• Are my tools covered if they get stolen from my vehicle?
• Are all vehicle passengers covered by medical payments coverage?
• Is rental equipment covered for theft or damage?
• Is my Mercedes-Benz S500 covered for flood damage?
• When should my teen driver be added to my policy?

If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

Summing up your car insurance search

Throughout this article, we presented quite a bit of information on how to reduce Mercedes-Benz S500 insurance prices online. The key concept to understand is the more companies you get rates for, the higher the chance of saving money. Drivers may discover the lowest priced car insurance comes from a small local company. These companies may cover specific market segments cheaper as compared to the big name companies such as Allstate and Progressive.

Cost effective Mercedes-Benz S500 insurance is possible both online and with local insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some insurance companies do not offer the ability to get a quote online and these regional insurance providers work with independent agents.