Overpriced Mercedes-Benz SL-Class insurance can drain your bank account and force you to prioritize other expenses. Comparing price quotes is free, only takes a few minutes, and is a good way to tighten up your finances. Having so many options when it comes to car insurance, it is very difficult to pick the lowest price company.
The quickest method we recommend to compare insurance rates from multiple companies is to know all the major auto insurance companies pay for the opportunity to give rate comparisons. The only thing you need to do is take a few minutes to give details such as if you have a valid license, deductibles desired, how your vehicles are used, and types of safety features. The rating information is instantly sent to many different companies and you should receive rate quotes with very little delay.
When buying proper insurance coverage, there really is not a one size fits all plan. Your needs are not the same as everyone else’s and your policy should reflect that. Here are some questions about coverages that can help discover if you might need professional guidance.
If you don’t know the answers to these questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, fill out this quick form or you can go here for a list of companies in your area. It only takes a few minutes and can provide invaluable advice.
Having a good grasp of your policy aids in choosing appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be confusing and coverage can change by endorsement. Listed below are typical coverage types offered by car insurance companies.
Uninsured/Underinsured Motorist (UM/UIM)
Your UM/UIM coverage protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.
Since many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.
Collision coverage protection
This coverage covers damage to your SL-Class resulting from colliding with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision can pay for things like crashing into a building, driving through your garage door and sustaining damage from a pot hole. Collision is rather expensive coverage, so consider dropping it from older vehicles. It’s also possible to increase the deductible to bring the cost down.
Liability auto insurance
Liability insurance will cover damage or injury you incur to a person or their property. This insurance protects YOU against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 100/300/100 that means you have a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.
Liability coverage protects against claims like medical expenses, loss of income, repair costs for stationary objects and structural damage. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.
Med pay and Personal Injury Protection (PIP)
Coverage for medical payments and/or PIP provide coverage for short-term medical expenses like hospital visits, funeral costs and nursing services. They can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. They cover all vehicle occupants in addition to getting struck while a pedestrian. PIP is not available in all states and may carry a deductible
This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for things such as damage from getting keyed, hail damage, falling objects and damage from flooding. The maximum payout your car insurance company will pay 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.