How Much Does 2002 Mercedes-Benz SL-Class Insurance Cost?

Want cheaper auto insurance rates for your Mercedes-Benz SL-Class? I can’t think of a single person who likes paying for auto insurance, in particular when the price is too high.

Many car insurance companies vie for your hard-earned dollar, and it can be difficult to compare rates and get the best coverage at the best rate

Consumers need to do rate comparisons quite often since rates trend upward over time. Even if you think you had the lowest price on SL-Class insurance six months ago you can probably find a lower rate today. Starting now, block out anything you think you know about auto insurance because you’re about to learn the only way to reduce your cost while increasing coverage.

Factors determining your Mercedes-Benz SL-Class insurance premium

An important part of buying insurance is that you know the different types of things that go into determining insurance rates. Having a good understanding of what determines base rates empowers consumers to make smart changes that will entitle you to better insurance rates.

Listed below are some of the factors used by your company to calculate prices.

  • Multiple policies with one company can save – Some insurance companies provide better rates to customers who buy several policies from them such as combining an auto and homeowners policy. Discounts can add up to 10 percent or more. Even if you’re getting this discount it’s still a good idea to compare rates to verify if the discount is saving money. Drivers may still find a better deal by insuring with multiple companies.
  • Credit scores impact insurance rates – Credit score is a important factor in your rate calculation. If your credit rating is lower than you’d like, you could potentially save money when insuring your 2002 Mercedes-Benz SL-Class by improving your rating. People with high credit scores tend to be more responsible as compared to drivers with poor credit.
  • Poor driving leads to higher costs – Careful drivers receive lower rates than bad drivers. Only having one moving violation can boost insurance rates twenty percent or more. Drivers who get serious violations like reckless driving, hit and run or driving under the influence may be required to file a SR-22 to the state department of motor vehicles in order to continue driving.
  • What are your deductibles? – Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, is used to repair damage to your Mercedes-Benz. Examples of covered claims could be a windshield shattered by a rock, damage caused by hail, and rolling your vehicle. Physical damage deductibles are how much you are willing to pay before your insurance pays a claim. The more you’re willing to pay, the less your company will charge you for insurance on SL-Class insurance.
  • Where do you drive? – The more you drive in a year the more you will pay for insurance. The majority of insurers charge to insure your cars based upon how you use the vehicle. Cars and trucks used primarily for pleasure use can get a lower rate as compared to vehicles used primarily for driving to work. Having the wrong rating on your SL-Class may be costing you. Double check that your insurance policy is showing the correct driver usage, because it can save money.
  • Extra add-on coverages are wasting money – There are a lot of additional coverages that you can buy on your insurance policy. Coverages like roadside assistance, towing coverage and additional equipment coverage are some examples. They may seem like a good idea initially, but now you might not need them so get rid of them and save.
  • Safer occupants lowers premiums – Vehicles with good safety scores tend to have better insurance rates. These vehicles result in less severe injuries and fewer injuries translates into fewer and smaller insurance claims and lower rates for you. If your Mercedes-Benz SL-Class earned at least four stars on Safercar.gov it may be receiving lower rates.
  • Lower rates come with age – Young drivers have a tendency to be careless and easily distracted when behind the wheel so insurance rates are higher. Older insureds are more cautious drivers, statistically cause fewer accidents and are safer drivers.

Insurance Coverage Prices

There are a lot of ways to compare insurance coverage prices but one way is less time-consuming than others. You can waste a lot of time talking to agents in your area, or you could use online quoting for quick rates.

Most of the larger companies enroll in a system where insurance shoppers submit one quote, and at least one company provides a quote based on that information. This saves time by eliminating form submissions for each company.

To fill out one form to compare multiple rates now click here to start a free quote.

The one downside to using this type of system is you are unable to specify which companies you want to price. So if you want to select specific insurance companies to compare, we put together a list of companies who write insurance coverage in your area. Click to view list.

However you get your quotes, ensure you are comparing identical coverages and limits with every price quote. If each company quotes different liability limits it will be impossible to determine which rate is truly the best. Having just a slight variation in limits can make a big difference in price. It’s important to know that having more price comparisons helps locate better pricing.

Don’t believe everything you hear

GEICO, State Farm and Progressive continually stream television and radio advertisements. All the companies make an identical promise that you’ll save big after switching to them. How does each company say the same thing?

All the different companies have a certain “appetite” for the driver they prefer to insure. A good example of a profitable customer could possibly be between the ages of 40 and 55, has no driving citations, and drives newer vehicles. A propective insured who matches those parameters receives the best rates and as a result will probably save when they switch companies.

Potential customers who don’t measure up to the requirements will be quoted higher rates and ends up with business not being written. The ads say “people who switch” not “everyone that quotes” save that much money. This is how insurance companies can confidently make the claims of big savings. This emphasizes why you should get as many quotes as possible. Because you never know which car insurance company will fit your personal profile best.

Discounts are basically free money

Companies that sell car insurance don’t always list every available discount very clearly, so we took the time to find some of the more common and the more hidden insurance coverage savings.

  • Bundle and Save – If you have multiple policies with the same insurance company you may save 10% to 20% off each policy.
  • Federal Government Employee – Being employed by or retired from a federal job may qualify you for a discount on SL-Class insurance depending on your company.
  • Student Driver Training – Cut your cost by having your teen driver successfully complete driver’s ed class in school.
  • Discount for Good Grades – Performing well in school can earn a discount of 20% or more. This discount can apply up to age 25.
  • Payment Method – If paying your policy premium upfront rather than paying monthly you may reduce your total bill.
  • Life Insurance Discount – Larger companies have better rates if you take out auto and life insurance together.
  • Theft Prevention Discount – Vehicles with anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
  • Seat Belts Save – Drivers who require all occupants to buckle their seat belts can save 10% or more on the medical payments or PIP coverage costs.
  • Save with a New Car – Putting insurance coverage on a new car can be considerably cheaper because new vehicles have to meet stringent safety requirements.
  • Driver Safety – Taking part in a driver safety course can save you 5% or more if your company offers it.

It’s important to note that many deductions do not apply to your bottom line cost. The majority will only reduce individual premiums such as liability and collision coverage. So when it seems like it’s possible to get free car insurance, insurance coverage companies aren’t that generous.

To see a list of companies with discount insurance coverage rates, click here.

Which insurance is the “right” coverage?

When it comes to buying the best auto insurance coverage for your personal vehicles, there really is not a single plan that fits everyone. Every insured’s situation is different so your insurance needs to address that. For example, these questions could help you determine whether your personal situation could use an agent’s help.

  • Do I have coverage when using my vehicle for my home business?
  • Why am I required to buy liability insurance?
  • Do I need more liability coverage?
  • If my 2002 Mercedes-Benz SL-Class is totaled, can I afford another vehicle?
  • Is upholstery damage covered by car insurance?
  • Which companies will insure high-risk drivers?
  • Where can I find DUI or SR-22 insurance?

If it’s difficult to answer those questions, you might consider talking to an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies.

Detailed coverages of your car insurance policy

Knowing the specifics of your policy helps when choosing which coverages you need and proper limits and deductibles. The terms used in a policy can be difficult to understand and reading a policy is terribly boring. Listed below are typical coverages offered by car insurance companies.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and also any damage incurred to your Mercedes-Benz SL-Class.

Since many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea.

Comprehensive protection

This pays for damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like theft, damage from a tornado or hurricane, hitting a bird, damage from getting keyed and hitting a deer. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Collision insurance

This covers damage to your SL-Class from colliding with an object or car. You first must pay a deductible then your collision coverage will kick in.

Collision coverage pays for things such as hitting a mailbox, backing into a parked car, scraping a guard rail and sideswiping another vehicle. This coverage can be expensive, so consider removing coverage from vehicles that are older. Another option is to choose a higher deductible to save money on collision insurance.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses such as surgery, nursing services, rehabilitation expenses and EMT expenses. They are often used in conjunction with a health insurance plan or if you lack health insurance entirely. It covers you and your occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

Auto liability

This coverage protects you from damage that occurs to other’s property or people that is your fault. It protects you against claims from other people, and doesn’t cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and $100,000 of coverage for damaged propery.

Liability can pay for things like emergency aid, court costs, pain and suffering, legal defense fees and structural damage. The amount of liability coverage you purchase is your choice, but you should buy as high a limit as you can afford.

Saving money is sweet as honey

Cheap 2002 Mercedes-Benz SL-Class insurance can be purchased both online in addition to many insurance agents, and you need to comparison shop both in order to have the best chance of saving money. Some insurance providers do not provide online price quotes and these small insurance companies work with independent agents.

We just presented a lot of information how to reduce insurance prices online. The most important thing to understand is the more you quote, the better chance you’ll have of finding lower rates. Drivers may discover the lowest premiums are with the smaller companies. These smaller insurers often have lower prices on specific markets than their larger competitors like State Farm and Allstate.

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