Cheaper 2003 Mercedes-Benz M-Class Insurance Rates

Having to pay for overpriced insurance can take a big chunk out of your bank account, especially in this economy. Doing a price comparison is a great way to lower your monthly bill.

With consumers having so many different company options, it can be impossible to choose the cheapest car insurance company.

Get lower rates on Mercedes-Benz M-Class insurance

Insurance can be prohibitively expensive, but you can get discounts to help bring down the price. Most are applied when you purchase, but some must be specially asked for prior to receiving the credit.

  • Pay Upfront and Save – By paying your policy upfront instead of monthly or quarterly installments you could save up to 5%.
  • Bundle and Save – When you combine your home and auto insurance with the same company you may save approximately 10% to 15%.
  • Service Members Pay Less – Being on active duty in the military could be rewarded with lower premiums.
  • Save with a New Car – Buying coverage on a new vehicle can save up to 30% because new vehicles have to meet stringent safety requirements.
  • Air Bag Discount – Vehicles equipped with air bags and/or automatic seat belt systems can qualify for discounts of up to 25% or more.

Consumers should know that some of the credits will not apply the the whole policy. Most cut the price of certain insurance coverages like physical damage coverage or medical payments. So even though it sounds like all those discounts means the company will pay you, car insurance companies aren’t that generous. But all discounts will bring down the cost of coverage.

To see a list of providers with discount car insurance rates, click this link.

Your Mercedes-Benz M-Class insurance rate is a complex equation

It’s important that you understand the different types of things that play a part in calculating car insurance rates. Understanding what impacts premium levels enables informed choices that may reward you with big savings.

Shown below are a few of the “ingredients” car insurance companies consider when setting rates.

  • Mature drivers pay less – Teen drivers are statistically proven to be careless and easily distracted when behind the wheel so car insurance rates are higher. Older insureds are more cautious drivers, file fewer claims and tend to be better behind the wheel.
  • Your car insurance rates can be influenced by your job – Occupations like judges, executives and stock brokers have the highest rates because of stressful work requirements and long work hours. On the other hand, occupations like scientists, students and the unemployed get better rates for M-Class coverage.
  • Your spouse saves you money – Having a spouse can actually save you money on car insurance. Having a spouse translates into being more mature than a single person it has been statistically shown that married couples file fewer claims.
  • Liability coverage is peace of mind – Liability insurance will protect you if ever you are found to be at fault for damages from an accident. Liability provides you with a defense in court starting from day one. This coverage is very inexpensive compared to physical damage coverage, so buy as much as you can afford.
  • Proper usage rating affects rates – The higher the mileage driven in a year’s time the higher your rate. Almost all companies price each vehicle’s coverage based upon how you use the vehicle. Cars not used for work or commuting can get a lower rate than vehicles that are driven to work every day. Ask your agent if your car insurance declarations sheet is showing the correct usage for each vehicle, because it can save money. If your policy improperly rates your M-Class can cost quite a bit.
  • Big city or small town – Choosing to live in a rural area can be a good thing when talking about car insurance. Drivers who live in large cities have to deal with much more traffic and longer commute times. Fewer drivers means reduced accidents and also fewer theft and vandalism claims.
  • Don’t let your coverage lapse – Having an insurance coverage lapse is a guaranteed way to trigger a rate increase. Not only will you pay more, but not being able to provide proof of insurance might get you a hefty fine and possibly a revoked license.You may then be required to file a SR-22 with your state motor vehicle department.

Tailor your coverage to you

When it comes to choosing the right insurance coverage for your personal vehicles, there isn’t really a one size fits all plan. Your needs are not the same as everyone else’s so this has to be addressed. For example, these questions might help in determining whether or not you might need professional guidance.

  • Is my business laptop covered if it gets stolen from my vehicle?
  • Do I need higher collision deductibles?
  • Do I pay less if my vehicle is kept in my garage?
  • Is pleasure use cheaper than using my 2003 Mercedes-Benz M-Class to commute?
  • Do I need more liability coverage?
  • Am I covered when using my vehicle for business?
  • What should my uninsured motorist coverage limits be in my state?

If you’re not sure about those questions but you think they might apply to your situation, you might consider talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier

Don’t believe everything you hear

Car insurance providers like 21st Century, Allstate and State Farm constantly bombard you with ads on TV and radio. They all have a common claim that you’ll save big if you switch your policy. How do they all make almost identical claims?

All the different companies can use profiling for the type of customer that earns them a profit. A good example of a desirable insured could be between 30 and 50, has no tickets, and chooses high deductibles. Any driver that hits that “sweet spot” gets the lowest rates and most likely will save quite a bit of money when switching.

Consumers who are not a match for the “perfect” profile will have to pay higher prices and ends up with business not being written. The ads state “drivers who switch” not “everybody who quotes” save that much. That is how companies can truthfully claim big savings.

Because of the profiling, drivers must get quotes from several different companies. It’s impossible to know which insurance companies will provide you with the cheapest Mercedes-Benz M-Class insurance rates.

Insurance coverage breakdown

Understanding the coverages of insurance aids in choosing the right coverages for your vehicles. Insurance terms can be confusing and even agents have difficulty translating policy wording. These are the normal coverages found on most insurance policies.

Medical payments coverage and PIP – Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for things like prosthetic devices, funeral costs, pain medications, chiropractic care and rehabilitation expenses. The coverages can be used in conjunction with a health insurance program or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants in addition to getting struck while a pedestrian. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Collision – Collision coverage pays for damage to your M-Class from colliding with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as crashing into a ditch, rolling your car and colliding with another moving vehicle. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. It’s also possible to choose a higher deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage provides protection from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Most of the time these limits are identical to your policy’s liability coverage.

Auto liability insurance – This provides protection from damages or injuries you inflict on other’s property or people that is your fault. This insurance protects YOU from legal claims by others, and doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property. Another option is a combined single limit or CSL which limits claims to one amount without having the split limit caps.

Liability can pay for things such as loss of income, court costs and bail bonds. How much coverage you buy is a personal decision, but consider buying as high a limit as you can afford.

Comprehensive coverage – Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as vandalism, rock chips in glass, falling objects, hitting a deer and hitting a bird. The maximum payout a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Get your money’s worth

We’ve covered many tips how you can compare 2003 Mercedes-Benz M-Class insurance prices online. The key thing to remember is the more rate quotes you have, the higher the chance of saving money. Consumers may even find the most savings is with a company that doesn’t do a lot of advertising. Smaller companies may have significantly lower rates on certain market segments than their larger competitors like State Farm, GEICO and Nationwide.

Budget-conscious insurance is possible both online and also from your neighborhood agents, and you need to price shop both to have the best chance of lowering rates. Some companies may not provide you the ability to get quotes online and most of the time these smaller companies sell through independent agents.

Even more information can be read in the articles below: