Cheap 2001 Mercedes-Benz SL-Class Insurance Rates

Having to pay for overpriced Mercedes-Benz SL-Class insurance can empty your savings account and force you to prioritize other expenses. Doing a price comparison is a smart way to lower your monthly bill.

There are many insurance companies to insure vehicles with, and even though it’s nice to have a selection, it makes it harder to find a good deal.

The purpose of this post is to tell you the best way to quote coverages and some money-saving tips. If you currently have a car insurance policy, you stand a good chance to be able to lower your premiums substantially using these methods. Nevertheless, car owners must understand the way insurance companies sell insurance online and apply this information to your search.

How to Compare Car Insurance Costs

There are multiple methods to compare 2001 Mercedes-Benz SL-Class car insurance prices but some are more efficient than others. You could spend the better part of a day talking to insurance companies in your area, or you could use the internet to get prices fast.

The majority of car insurance companies enroll in a system that enables customers to complete one form, and each company then gives them pricing based on the submitted data. This prevents consumers from doing quote forms for each company you want a rate for.

To participate in this free quote system, click here to open in new window.

The one disadvantage to comparing rates this way is buyers cannot specifically choose which carriers you want to price. So if you prefer to choose from a list of companies to receive pricing from, we have assembled a list of the cheapest car insurance companies in your area. Click here for list of insurance companies.

It’s up to you which method you use, but compare identical information for every quote you compare. If the quotes have different deductibles it’s not possible to truly determine the lowest rate. Just a small difference in limits may cause a big price difference. Just remember that more quotes will improve the odds of getting better pricing.

Don’t be fooled by advertising claims

Progressive, GEICO, Allstate and State Farm continually stream television and radio advertisements. All the companies make the same claim about savings after switching to their company. How does each company claim to save you money? It’s all in the numbers.

Insurance companies have a preferred profile for the type of driver they prefer to insure. A good example of a profitable customer could be over the age of 40, owns a home, and has a high credit rating. Any new insured who fits that profile will get very good rates and most likely will cut their rates substantially.

Potential insureds who do not match this ideal profile will be quoted higher rates which usually ends up with business going elsewhere. Company advertisements say “people who switch” not “everybody who quotes” save that much. That’s why insurance companies can make those claims.

This emphasizes why you absolutely need to quote coverage with many companies. It’s not possible to predict which insurance companies will fit your personal profile best.

Lesser-known factors impacting Mercedes-Benz SL-Class insurance rates

An important part of buying insurance is that you know some of the elements that help determine your auto insurance rates. When you know what positively or negatively influences your rates enables informed choices that will entitle you to better auto insurance rates.

The following are some of the items auto insurance companies consider when setting prices.

  • Keep rates low by being claim-free – Companies provide cheaper rates to policyholders who do not rely on their insurance for small claims. If you frequently file small claims, you can expect either higher rates or even cancellation. Auto insurance is intended to be relied upon for major claims that would cause financial hardship.
  • Your age impacts your rates – More mature drivers are more responsible, tend to cause fewer accidents and tend to be better behind the wheel. Teenage drivers are known to be more careless when driving therefore auto insurance rates are much higher.
  • Your credit rating is important – A driver’s credit history is a large factor in determining what you pay for auto insurance. If your credit score is not that good, you could save money insuring your 2001 Mercedes-Benz SL-Class by improving your rating. People with excellent credit tend to be more responsible than drivers with lower credit scores.
  • Occupation reflects on rates – Did you know your auto insurance rates can be affected by your occupation? Jobs such as lawyers, architects and financial analysts tend to pay higher average rates in part from high stress and lengthy work days. Conversely, occupations like scientists, engineers and performers have the lowest average rates for SL-Class insurance.
  • Battle of the sexes – Statistics have proven that women are safer drivers than men. That doesn’t necessarily mean that women are BETTER drivers than men. They both cause accidents at about the same rate, but the male of the species cause more damage. Men also tend to get more serious tickets like DUI and reckless driving. Teenage male drivers tend to get in the most accidents and therefore have the most expensive auto insurance rates.
  • A lapse in coverage is a bad thing – Letting your insurance expire is a fast way to trigger a rate increase. Not only will you pay more, but being ticketed for driving with no insurance might get you a steep fine or even jail time.
  • Low deductibles can be expensive – Insurance for physical damage to your car, also known as collision and other-than-collision, is used to repair damage to your Mercedes-Benz. Some examples of claims that would be covered are a windshield shattered by a rock, vandalism, and rolling your vehicle. Physical damage deductibles are how much you are willing to pay before your auto insurance pays a claim. The more expense the insured has to pay upfront, the lower your rates will be for SL-Class insurance.
  • Lower rates with optional equipment – Owning a car that has an advanced theft prevention system can get you a discount on your auto insurance. Anti-theft devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent car theft.

Save money by taking advantage of these discounts

The price of auto insurance can be rather high, but you may find discounts that can drop the cost substantially. Larger premium reductions will be automatically applied at the time of purchase, but lesser-known reductions have to be inquired about before you will receive the discount.

  • Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes can reduce accidents and will save you 10% or more.
  • Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class in school.
  • Pay Upfront and Save – By paying your policy upfront instead of paying each month you could save 5% or more.
  • Federal Employees – Active or retired federal employment may qualify you for a discount for SL-Class insurance with select insurance companies.
  • Distant Student – Any of your kids living away from home attending college and do not have a car can receive lower rates.
  • New Car Discount – Adding a new car to your policy can save up to 30% due to better safety requirements for new cars.
  • Early Signing – Some companies give discounts for signing up before your current expiration date. This can save 10% or more.

Keep in mind that most discount credits are not given the the whole policy. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. So when the math indicates you would end up receiving a 100% discount, it just doesn’t work that way. Any amount of discount will reduce the cost of coverage.

Companies that may have these money-saving discounts may include but are not limited to:

Check with each insurance company what discounts are available to you. Some discounts may not apply in your area.

When should I use an insurance agent?

When choosing the right insurance coverage, there really is not a cookie cutter policy. Everyone’s needs are different so this has to be addressed. Here are some questions about coverages that might help in determining if you might need professional guidance.

  • What can I do if my company won’t pay a claim?
  • Are rock chip repairs covered?
  • Exactly who is provided coverage by my policy?
  • Are my friends covered when driving my 2001 Mercedes-Benz SL-Class?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • What is roadside assistance coverage?
  • Can I afford low physical damage deductibles?
  • When can I cancel my policy?

If it’s difficult to answer those questions but one or more may apply to you, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

Insurance coverage considerations

Understanding the coverages of your policy can be of help when determining which coverages you need at the best deductibles and correct limits. Policy terminology can be difficult to understand and reading a policy is terribly boring. These are the normal coverages found on most insurance policies.

Collision insurance

This pays for damage to your SL-Class resulting from a collision with another car or object. A deductible applies and then insurance will cover the remainder.

Collision can pay for claims such as backing into a parked car, driving through your garage door, crashing into a ditch, colliding with a tree and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. It’s also possible to increase the deductible to get cheaper collision coverage.

Auto liability insurance

Liability insurance protects you from damage that occurs to other people or property. This coverage protects you from claims by 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. You might see limits of 50/100/50 that translate to a limit of $50,000 per injured person, $100,000 for the entire accident, and property damage coverage for $50,000. Occasionally you may see one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.

Liability insurance covers things like court costs, loss of income, emergency aid, medical services and pain and suffering. How much liability should you purchase? That is a personal decision, but buy as large an amount as possible.

Coverage for medical payments

Coverage for medical payments and/or PIP kick in for expenses for dental work, hospital visits and doctor visits. They are used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants and damage to your Mercedes-Benz SL-Class.

Due to the fact that many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Usually these limits are similar to your liability insurance amounts.

Comprehensive coverages

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive can pay for things such as a broken windshield, a tree branch falling on your vehicle, hitting a deer, rock chips in glass and hitting a bird. The maximum amount your insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

In conclusion

Low-cost 2001 Mercedes-Benz SL-Class insurance can be bought on the web as well as from independent agents, so compare prices from both to have the best selection. Some insurance providers don’t offer online price quotes and most of the time these smaller companies sell through independent agents.

We just showed you a lot of techniques to reduce insurance prices online. The key concept to understand is the more companies you get rates for, the better your chances of lowering your rates. You may be surprised to find that the lowest priced car insurance comes from an unexpected company. Smaller companies may only write in your state and offer lower rates than the large multi-state companies such as State Farm or Progressive.

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