2003 Mercedes-Benz SL-Class Car Insurance Cost

Finding better rates for insurance can be challenging for consumers not familiar with comparing rates online. You have so many options available that it can be a lot of work to find the best price.

Mercedes-Benz SL-Class rate determination is complex

It’s important that you understand the factors that go into determining car insurance rates. Having a good understanding of what controls the rates you pay enables informed choices that may reward you with lower car insurance prices.

  • Too many car insurance claims drive up costs – If you tend to file frequent claims, you can expect either a policy non-renewal or much higher rates. Companies award lower rates to people who are claim-free. Auto insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
  • Pay less if you’re married – Being married actually saves money on car insurance. Having a significant other usually means you are more mature it has been statistically shown that married couples file fewer claims.
  • Rates may be lower depending on your job – Did you know your job can affect your rates? Jobs such as judges, business owners and financial analysts have higher average rates attributed to high stress and long work days. Conversely, occupations such as scientists, engineers and homemakers get better rates on SL-Class coverage.
  • Safe vehicles cost less to insure – Vehicles with high crash test scores tend to have better insurance rates. The safest vehicles result in less severe injuries and any reduction in injury severity means less money paid by your insurance company and lower rates for you. If your Mercedes-Benz is rated at least four stars on Safercar.gov it is probably cheaper to insure.
  • Do you qualify for a multi-policy discount? – Many car insurance companies will award you with lower prices to people who buy several policies from them, otherwise known as a multi-policy discount. Even with this discount, you may still want to shop around to ensure the best deal.
  • Women pay lower rates – Statistics have proven that women are safer drivers than men. Now that doesn’t mean men are WORSE drivers than women. Men and women are in accidents at about the same rate, but the men tend to have more serious accidents. Men also statistically get cited for more serious violations like reckless driving and DUI.
  • Tickets mean higher rates – Even a single moving violation can increase rates by twenty percent. Good drivers receive lower rates than people who have multiple driving citations. Drivers who get severe violations like DWI, reckless driving or hit and run convictions may be required to file a proof of financial responsibility form (SR-22) with their state DMV in order to drive a vehicle legally.

Pay less by taking advantage of discounts

Car insurance companies don’t necessarily list every discount very well, so we took the time to find both well-publicized and the more hidden auto insurance savings.

  • Military Rewards – Having a family member in the military may qualify for rate reductions.
  • Discounts for Safe Drivers – Drivers who don’t get into accidents may save up to 50% more on SL-Class coverage than drivers with accident claims.
  • Pay Upfront and Save – By paying your policy upfront instead of monthly or quarterly installments you could save up to 5%.
  • Seat Belt Usage – Using a seat belt and requiring all passengers to use their safety belts can save 10% or more off your medical payments premium.
  • Auto/Home Discount – When you combine your home and auto insurance with one company you could get a discount of at least 10% off all policies.
  • Distant Student – Any of your kids who attend school more than 100 miles from home without a vehicle on campus may qualify for this discount.

It’s important to understand that some of the credits will not apply the the whole policy. Some only apply to specific coverage prices like collision or personal injury protection. Just because you may think all those discounts means the company will pay you, companies don’t profit that way.

Car insurance companies that possibly offer some of the above discounts may include but are not limited to:

Check with each insurance company what discounts are available to you. Discounts may not apply everywhere.

Your coverage should be tailored to you

When choosing adequate coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Everyone’s needs are different.

For example, these questions can aid in determining whether you will benefit from professional help.

  • What is covered by UM/UIM coverage?
  • Does liability extend to a camper or trailer?
  • What is roadside assistance coverage?
  • Which is better, split liability limits or combined limits?
  • What can I do if my company denied a claim?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Do I have coverage when making deliveries for my home business?

If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with an agent. If you want to speak to an agent in your area, simply complete this short form.

Insurance coverage options for a 2003 Mercedes-Benz SL-Class

Understanding the coverages of your policy can help you determine appropriate coverage and proper limits and deductibles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording.

Liability coverages – Liability coverage can cover damage that occurs to other people or property by causing an accident. It protects you against claims from other people, and does not provide coverage for your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property.

Liability can pay for things like medical services, attorney fees, emergency aid, bail bonds and repair costs for stationary objects. The amount of liability coverage you purchase is a personal decision, but you should buy higher limits if possible.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your Mercedes-Benz SL-Class.

Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage reimburse you for bills for things like surgery, pain medications, X-ray expenses and EMT expenses. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay

Collision – Collision insurance will pay to fix damage to your SL-Class from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.

Collision coverage pays for things like hitting a parking meter, colliding with another moving vehicle and scraping a guard rail. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Another option is to choose a higher deductible to get cheaper collision coverage.

Comprehensive insurance – Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things like rock chips in glass, a broken windshield and hitting a bird. The maximum amount a insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Don’t be a big spender

People leave their current company for a variety of reasons including high rates after DUI convictions, not issuing a premium refund, unfair underwriting practices and questionable increases in premium. It doesn’t matter why you want to switch choosing a new insurance company is less work than it seems.

In this article, we presented many tips how you can get a better price on 2003 Mercedes-Benz SL-Class insurance. The key thing to remember is the more rate comparisons you have, the more likely it is that you will get a better rate. You may even discover the best prices are with some of the smallest insurance companies.

Cheap insurance is attainable on the web in addition to many insurance agents, and you need to price shop both in order to have the best chance of saving money. There are still a few companies who do not provide online price quotes and usually these regional insurance providers provide coverage only through local independent agents.

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