1992 Mercedes-Benz 500-Class Insurance Quotes – 6 Savings Tips

Are you a victim of an overpriced insurance coverage policy? Believe me when I say you are not the only one feeling buyer’s remorse.

Numerous insurance companies battle for your hard-earned dollar, so it’s not easy to compare every insurer to find the absolute best rates possible.

You should make it a habit to price shop coverage periodically since insurance rates change quite often. Just because you found the lowest price on 500-Class coverage six months ago you can probably find a better price now. Forget anything you know (or think you know) about insurance coverage because we’re going to demonstrate the fastest way to find great coverage at a great price.

How to Get Cheap Insurance Coverage

When shopping for insurance coverage there are multiple ways of comparing rates from insurance coverage companies in your area. The fastest way to compare 1992 Mercedes-Benz 500-Class insurance prices is to use the internet to compare rates. This is very easy and can be done in several different ways.

The most efficient way consumers can analyze rates is to use a rate comparison form click to view form in new window. This method saves time by eliminating multiple quote forms for every insurance coverage company. In just a few minutes this one form gets you coverage quotes from multiple companies.

A less efficient way to compare rate quotes consists of going to the website for each individual company and complete a new quote form. For sake of this example, we’ll pretend you want to compare Allstate, State Farm and Farmers. To find out each rate you need to take the time to go to each site and enter your information, and that’s why the first method is more popular. For a list of links to companies insuring cars in your area, click here.

The least recommended method to get comparison rates is to drive around to local insurance agencies. Buying insurance online eliminates the need for an insurance agent unless you have a need for the professional advice that only a license agent can provide. However, consumers can find lower rates online but still have the advice of a local agent.

It’s your choice how you get your quotes, but compare exactly the same coverage limits for every quote you compare. If you are comparing mixed coverages it’s not possible to make a fair comparison for your Mercedes-Benz 500-Class. Quoting even small variations in coverages can make a big difference in price. And when comparison shopping, getting more free quotes will enable you to find the best rates.

Are you getting all your discounts?

Car insurance can cost a lot, but companies offer discounts that you may not even be aware of. Certain discounts will be applied when you purchase, but some must be asked about before being credited.

  • Driver’s Ed – Cut your cost by having your teen driver successfully complete driver’s ed class in school.
  • Anti-lock Brake System – Anti-lock brake equipped vehicles can avoid accidents and will save you 10% or more.
  • Early Switch Discount – A few companies offer discounts for switching to them before your current expiration date. It’s a savings of about 10%.
  • Safety Course Discount – Completing a defensive driving course could cut 5% off your bill if your company offers it.
  • Discounts for Safe Drivers – Insureds without accidents may receive a discount up to 45% less on 500-Class coverage than less cautious drivers.
  • No Accidents – Good drivers with no accidents pay much less when compared with accident-prone drivers.

Keep in mind that many deductions do not apply to the entire policy premium. Most only cut the price of certain insurance coverages like comprehensive or collision. Just because it seems like you would end up receiving a 100% discount, you won’t be that lucky. But all discounts will reduce the amount you have to pay.

Insurance companies who might offer some of the above discounts are:

Double check with every prospective company which discounts they offer. Discounts might not apply in your area.

Tailor your coverage to you

When it comes to buying adequate coverage, there is no perfect coverage plan. Your needs are not the same as everyone else’s so your insurance needs to address that. For instance, these questions may help you determine whether or not you might need an agent’s assistance.

  • Am I covered when using my vehicle for business?
  • What happens if I owe more than my 1992 Mercedes-Benz 500-Class is worth?
  • Does coverage extend to my business vehicle?
  • Why do I need rental car insurance?
  • Am I covered when driving someone else’s vehicle?
  • Is extra glass coverage worth it?
  • How much liability insurance is required?
  • Can my babysitter drive my car?

If you’re not sure about those questions but you know they apply to you then you might want to talk to an insurance agent. If you don’t have a local agent, take a second and complete this form or go to this page to view a list of companies.

Car insurance 101

Understanding the coverages of a insurance policy helps when choosing which coverages you need and the correct deductibles and limits. Policy terminology can be ambiguous and coverage can change by endorsement. These are the normal coverages found on the average insurance policy.

Comprehensive (Other than Collision)

This coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things like hail damage, falling objects, hitting a bird, hitting a deer and vandalism. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Liability car insurance

Liability coverage will cover damage or injury you incur to other’s property or people that is your fault. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 50/100/50 which means a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property. Occasionally you may see one number which is a combined single limit that pays claims from the same limit without having the split limit caps.

Liability coverage pays for claims like loss of income, medical expenses, attorney fees, pain and suffering and structural damage. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your 1992 Mercedes-Benz 500-Class.

Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. So UM/UIM coverage is a good idea. Usually these coverages do not exceed the liability coverage limits.

Medical expense insurance

Med pay and PIP coverage reimburse you for bills like X-ray expenses, doctor visits, prosthetic devices and surgery. The coverages can be utilized in addition to your health insurance program or if you are not covered by health insurance. They cover all vehicle occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Collision protection

Collision coverage covers damage to your 500-Class resulting from a collision with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims such as driving through your garage door, backing into a parked car, hitting a parking meter and scraping a guard rail. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. Another option is to raise the deductible to save money on collision insurance.

A penny earned…

Throughout this article, we presented many ideas to save on 1992 Mercedes-Benz 500-Class insurance. The most important thing to understand is the more times you quote, the higher the chance of saving money. Drivers may discover the lowest premiums are with some of the lesser-known companies. They may often insure only within specific states and give getter rates than their larger competitors like State Farm or Progressive.

Cheap insurance is attainable online and with local insurance agents, so you should compare both to have the best rate selection. Some companies do not offer online quoting and these smaller companies work with independent agents.

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