Are you a victim of an overpriced auto insurance policy? Believe me when I say there are lots of people in the same boat. Numerous car insurance companies battle for your insurance dollar, and because of this it can be hard to compare auto insurance companies to find the absolute lowest rate
Companies don’t always list every discount very clearly, so we took the time to find some of the best known as well as the least known discounts you could be receiving. If you’re not getting every credit possible, you’re paying more than you need to.
As a disclaimer on discounts, most of the big mark downs will not be given to all coverage premiums. Most only apply to the cost of specific coverages such as collision or personal injury protection. Even though it may seem like all those discounts means the company will pay you, companies don’t profit that way.
To see a list of insurance companies offering insurance discounts, click this link.
When buying the best insurance coverage, there is no “perfect” insurance plan. Every insured’s situation is different and your policy should reflect that. Here are some questions about coverages that might point out if your insurance needs might need an agent’s assistance.
If it’s difficult to answer those questions but you know they apply to you then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It is quick, free and can help protect your family.
Consumers can’t ignore all the ads for cheaper car insurance by Progressive, Allstate and Geico. They all seem to have a common claim that you can save if you move to their company.
How can each company make almost identical claims?
All the different companies are able to cherry pick for the type of customer that is profitable for them. An example of a preferred risk could be over the age of 50, owns a home, and drives less than 10,000 miles a year. A propective insured who fits that profile gets the lowest rates and is almost guaranteed to cut their rates substantially.
Potential customers who don’t qualify for the requirements will be quoted a more expensive rate and ends up with business going elsewhere. The ads say “customers who switch” but not “drivers who get quotes” save that much money. This is how companies can truthfully make those claims. This emphasizes why you absolutely need to get a wide range of price quotes. It’s not possible to predict which car insurance company will have the lowest Mercedes-Benz SL-Class insurance rates.
Learning about specific coverages of your insurance policy helps when choosing which coverages you need and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement. Listed below are the usual coverages available from insurance companies.
Liability auto insurance – This coverage will cover injuries or damage you cause to other people or property by causing an accident. This coverage protects you against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 100/300/100 which stand for a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery.
Liability can pay for claims such as pain and suffering, structural damage, emergency aid and funeral expenses. How much liability should you purchase? That is up to you, but buy as large an amount as possible.
Protection from uninsured/underinsured drivers – This provides protection when other motorists do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as damage to your Mercedes-Benz SL-Class.
Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.
Collision coverage – This pays for damage to your SL-Class resulting from a collision with another car or object. You have to pay a deductible then your collision coverage will kick in.
Collision can pay for claims such as scraping a guard rail, sideswiping another vehicle, rolling your car and crashing into a building. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible to bring the cost down.
Medical expense insurance – Personal Injury Protection (PIP) and medical payments coverage pay for bills for things like dental work, nursing services and doctor visits. The coverages can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants as well as being hit by a car walking across the street. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage
Comprehensive (Other than Collision) – Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive insurance covers claims like damage from flooding, a tree branch falling on your vehicle, hitting a deer, rock chips in glass and damage from a tornado or hurricane. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.
As you prepare to switch companies, you should never reduce needed coverages to save money. There have been many situations where an accident victim reduced uninsured motorist or liability limits only to regret at claim time that it was a big error on their part. Your focus should be to purchase a proper amount of coverage at an affordable rate while still protecting your assets.
We just covered a lot of information how to compare 2005 Mercedes-Benz SL-Class insurance prices online. The most important thing to understand is the more rate comparisons you have, the better your chances of lowering your rates. You may even discover the best price on auto insurance is with some of the lesser-known companies. Smaller companies may often insure only within specific states and give getter rates than their larger competitors like Progressive or Geico.