Finding the lowest price for auto insurance can seem complicated if you have never used online rate quotes. But don’t be discouraged because finding affordable coverage online is easier than you think.
It’s a good habit to get comparison quotes periodically since insurance rates tend to go up over time. Even if you think you had the lowest rates on SLK-Class coverage two years ago other companies may now be cheaper. Starting now, forget anything you know (or think you know) about auto insurance because you’re going to get a crash course in the quickest way to save on auto insurance.
Car insurance is not cheap, but there could be available discounts to help offset the cost. Some discounts apply automatically at the time of purchase, but lesser-known reductions have to be manually applied before you get the savings.
Drivers should understand that most discounts do not apply to the entire policy premium. Most only apply to individual premiums such as physical damage coverage or medical payments. So when the math indicates having all the discounts means you get insurance for free, companies don’t profit that way. Any qualifying discounts will reduce your premiums.
Companies that may offer these money-saving discounts include:
Before buying, ask all companies you are considering how you can save money. All car insurance discounts might not be offered in your area.
State Farm and Allstate regularly use television and radio advertisements. All the companies make an identical promise of big savings if you move to them. How can each company make the same claim?
Insurance companies have a certain “appetite” for the right customer that makes them money. For instance, a driver they prefer could be between the ages of 40 and 55, has no driving citations, and has a high credit rating. Any driver that hits that “sweet spot” is entitled to the best price and therefore will save quite a bit of money when switching.
Potential insureds who don’t measure up to these standards will be quoted a more expensive rate and ends up with business going elsewhere. The ads state “people who switch” not “people who quote” save that kind of money. That’s why insurance companies can confidently make those claims.
This emphasizes why drivers must get as many comparisons as possible. Because you never know the company that will fit your personal profile best.
When it comes to choosing the right insurance coverage, there is no single plan that fits everyone. Every insured’s situation is different.
For instance, these questions might point out whether you would benefit from an agent’s advice.
If you don’t know the answers to these questions, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, simply complete this short form.
Having a good grasp of a insurance policy can be of help when determining the right coverages for your vehicles. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy.
This protects you from damages or injuries you inflict on other’s property or people that is your fault. This coverage protects you from legal claims by others. Liability 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 might see liability limits of 100/300/100 which means a limit of $100,000 per injured person, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount without having the split limit caps.
Liability can pay for things such as repair costs for stationary objects, medical expenses and structural damage. How much liability should you purchase? That is a personal decision, but buy as large an amount as possible.
Uninsured Motorist or Underinsured Motorist insurance
Uninsured or Underinsured Motorist coverage gives you protection when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as your vehicle’s damage.
Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Usually these coverages are identical to your policy’s liability coverage.
This coverage will pay to fix damage to your SLK-Class from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers things such as backing into a parked car, sideswiping another vehicle, damaging your car on a curb, scraping a guard rail and colliding with another moving vehicle. This coverage can be expensive, so consider removing coverage from older vehicles. You can also choose a higher deductible to save money on collision insurance.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things like rock chips in glass, falling objects, a tree branch falling on your vehicle, vandalism and hitting a deer. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Insurance for medical payments
Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses for things like surgery, prosthetic devices and X-ray expenses. The coverages can be used to fill the gap from your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants and also covers being hit by a car walking across the street. PIP coverage is not available in all states but can be used in place of medical payments coverage
Budget-conscious 2008 Mercedes-Benz SLK-Class insurance can be purchased both online and also from your neighborhood agents, so compare prices from both to get a complete price analysis. Some insurance companies may not provide the ability to get a quote online and most of the time these small, regional companies sell through independent agents.
Consumers leave their current company for a variety of reasons including high prices, not issuing a premium refund, policy non-renewal or unfair underwriting practices. Whatever your reason, choosing a new company can be less work than you think.
As you prepare to switch companies, it’s not a good idea to skimp on coverage in order to save money. In too many instances, drivers have reduced collision coverage and learned later that their decision to reduce coverage ended up costing them more. Your goal should be to get the best coverage possible at a price you can afford, not the least amount of coverage.