Mercedes Mercedes SLK-Class Insurance Rates
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UPDATED: Mar 5, 2020
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Trying to find lower car insurance rates for your Mercedes-Benz SLK-Class? Are you intimidated by the dozens of car insurance company choices? Many other drivers are as well. You have so many options that it can turn into a lot of work to find the lowest price.
If you are paying for car insurance now, you should be able to lower your premiums substantially using this strategy. Buying the cheapest car insurance coverage is easy if you know what you’re doing. Nevertheless, consumers need to learn the methods companies use to market on the web and use this information to your advantage.
Mercedes-Benz SLK-Class rates influenced by many factors
Consumers need to have an understanding of the rating factors that go into determining insurance coverage rates. Understanding what controls the rates you pay empowers consumers to make smart changes that could result in lower insurance coverage prices.
- Bundling policies can get discounts – Most insurance companies give discounts to people who buy several policies from them, otherwise known as a multi-policy discount. Even if you’re getting this discount you still need to compare other company rates to verify if the discount is saving money.
- Poor credit can mean higher rates – Credit score is a big factor in determining what you pay for insurance coverage. Therefore, if your credit score is lower than you’d like, you could pay less to insure your 2002 Mercedes-Benz SLK-Class by spending a little time repairing your credit. People with good credit tend to be more responsible than those with poor credit.
- Are you male or female? – The statistics show that women are safer drivers than men. However, don’t assume that men are worse drivers. Both sexes have accidents in similar numbers, but the men cause more damage and cost insurance companies more money. Men also statistically receive more costly citations like DUI and reckless driving.
- Do you need those extra coverages? – There are many extra bells and whistles that can waste your money on your insurance coverage policy. Insurance for rental car reimbursement, accident forgiveness and motor club memberships are examples of these. These coverages may sound good initially, but if you don’t need them eliminate the coverages to reduce your premium.
- Marriage brings a discount – Getting married can get you a discount on your insurance coverage policy. Marriage means you’re more mature than a single person and statistics show drivers who are married are more cautious.
- Pleasure use saves money – The more miles you rack up on your Mercedes-Benz every year the higher your rates will be. Most insurance companies rate vehicles determined by how the vehicle is used. Cars and trucks left parked in the garage qualify for better rates compared to those used for work or business. An improperly rated SLK-Class can result in significantly higher rates. Make sure your insurance coverage policy is rated on how each vehicle is driven.
Fast and Easy Auto Insurance Quotes
The are a couple different ways of comparing rate quotes from local auto insurance companies. The best method to find the lowest 2002 Mercedes-Benz SLK-Class rates is to perform an online rate comparison. This can be done using a couple different methods.
The best way to get the best comparison quotes is an all-inclusive rate comparison click to view form in new window. This type of form prevents you from having to do separate quote forms for each company you want a rate for. In just a few minutes this one form will return price quotes from multiple companies. Just one form and you’re done.
A slightly less efficient method to analyze rates consists of visiting each individual company website and request a quote. For sake of this example, let’s assume you want to compare Progressive, 21st Century and Allstate. To get each rate you have to go to every website and enter your policy data, and that’s why the first method is more popular. To view a list of companies in your area, click here.
It’s your choice how you get your quotes, but make sure you use exactly the same coverages and limits for each comparison quote. If you have different liability limits it’s impossible to decipher which rate is best. Quoting even small variations in insurance coverages may result in large price differences. And when price shopping your coverage, getting more free quotes provides better odds of finding better pricing.
Can you really save that much by switching?
Insurance companies such as Progressive, Allstate and GEICO regularly use ads in print and on television. They all seem to say the same thing that you can save if you move to their company. How can each company claim to save you money? This is how they do it.
Insurance companies have a certain “appetite” for the type of customer that makes them money. An example of a driver they prefer might be profiled as between 30 and 50, insures multiple vehicles, and has excellent credit. A customer that hits that “sweet spot” is entitled to the best price and therefore will save when they switch companies.
Potential customers who don’t measure up to the “perfect” profile must pay higher premiums which leads to business not being written. The ads say “customers who switch” not “everybody who quotes” save that much money. This is how companies can state the savings.
This illustrates why drivers must get as many quotes as possible. It’s just too difficult to predict which insurance company will have the lowest Mercedes-Benz SLK-Class insurance rates.
Companies offer discounts so take them!
Insuring your fleet can be pricey, but discounts can save money and there are some available that many people don’t even know exist. Certain discounts will be triggered automatically at the time you complete a quote, but a few need to be asked about in order for you to get them.
- Homeowners Discount – Owning a home may trigger a car insurance policy discount due to the fact that maintaining a home demonstrates responsibility.
- Senior Discount – If you qualify as a senior citizen, you may qualify for reduced rates for SLK-Class insurance.
- Early Signing – Some insurance companies reward drivers for buying a policy before your current expiration date. This can save 10% or more.
- Low Mileage – Driving fewer miles can qualify you for a substantially lower rate.
- Service Members Pay Less – Having a family member in the military could be rewarded with lower premiums.
- Accident Waiver – A handful of insurance companies permit an accident before raising your premiums so long as you haven’t had any claims for a particular time prior to the accident.
- Driver Safety – Successfully completing a defensive driving course could possibly earn you a 5% discount if your company offers it.
- College Student – Any of your kids who live away from home and do not have access to a covered vehicle can be insured at a reduced rate.
- Good Students Pay Less – A discount for being a good student can earn a discount of 20% or more. The discount lasts up to age 25.
- Multi-car Discount – Insuring more than one vehicle on one policy could earn a price break for each car.
Consumers should know that most of the big mark downs will not be given to the entire policy premium. Some only apply to the price of certain insurance coverages like liability and collision coverage. Just because it seems like it’s possible to get free car insurance, you’re out of luck. Any amount of discount will reduce the cost of coverage.
To see a list of companies who offer car insurance discounts, click here to view.
Do I just need basic coverages?
When it comes to buying the best auto insurance coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Everyone’s needs are different.
For example, these questions might point out if you would benefit from professional advice.
- Is my teen driver covered when they drive my company car?
- Do I need replacement cost coverage?
- Do I get a pro-rated refund if I cancel my policy early?
- How high should my uninsured/underinsured coverage be in my state?
- What is roadside assistance coverage?
- Does coverage extend to Mexico or Canada?
- Can my babysitter drive my car?
- Are all vehicle passengers covered by medical payments coverage?
- Is my ex-spouse still covered by my policy?
- Is other people’s property covered if stolen from my vehicle?
If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed agent. If you don’t have a local agent, complete this form.
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Insurance coverages and their meanings
Understanding the coverages of insurance can help you determine the right coverages and proper limits and deductibles. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording.
Uninsured/Underinsured Motorist (UM/UIM)
Your UM/UIM coverage provides protection from other drivers when they are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your Mercedes-Benz SLK-Class.
Since many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Most of the time these limits are similar to your liability insurance amounts.
Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.
Comprehensive insurance covers claims such as damage from getting keyed, falling objects, fire damage, damage from flooding and damage from a tornado or hurricane. The most your insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Auto liability insurance
Liability coverage protects you from damages or injuries you inflict on a person or their property that is your fault. It protects YOU against other people’s claims, and doesn’t cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Some companies may use one limit called combined single limit (CSL) which limits claims to one amount and claims can be made without the split limit restrictions.
Liability insurance covers things such as structural damage, attorney fees and bail bonds. How much liability coverage do you need? That is a decision to put some thought into, but consider buying as high a limit as you can afford.
Coverage for collisions
Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims like driving through your garage door, hitting a mailbox, crashing into a ditch, sustaining damage from a pot hole and hitting a parking meter. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. Another option is to bump up the deductible to save money on collision insurance.
Med pay and Personal Injury Protection (PIP)
Coverage for medical payments and/or PIP reimburse you for expenses for things like funeral costs, surgery, rehabilitation expenses, dental work and doctor visits. They are used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants in addition to getting struck while a pedestrian. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
A little work can save a LOT of money
As you restructure your insurance plan, it’s a bad idea to buy lower coverage limits just to save a few bucks. There have been many cases where an accident victim reduced physical damage coverage only to regret at claim time they didn’t have enough coverage. The ultimate goal is to buy the best coverage you can find at a price you can afford, not the least amount of coverage.
Discount 2002 Mercedes-Benz SLK-Class insurance is attainable both online and also from your neighborhood agents, and you need to price shop both to have the best selection. There are still a few companies who may not provide online price quotes and most of the time these regional insurance providers sell through independent agents.
Consumers who switch companies do it for a variety of reasons including extreme rates for teen drivers, denial of a claim, being labeled a high risk driver or even high rates after DUI convictions. Whatever your reason, switching insurance coverage companies is actually quite simple.
More detailed insurance coverage information can be read in the articles below:
- Tread Depth and Tire Safety (State Farm)
- Auto Insurance Learning Center (State Farm)
- Protecting Teens from Drunk Driving (Insurance Information Insitute)
- Child Safety FAQ (iihs.org)
- Understanding Car Crashes Video (iihs.org)
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