2008 Mercedes-Benz SLK-Class Insurance Rates
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UPDATED: Mar 5, 2020
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Finding the cheapest insurance for a Mercedes-Benz SLK-Class could be a lot of work, but you can follow these tips to find lower rates.
There is a right way and a wrong way to buy auto insurance and we’ll show you the absolute fastest way to price shop coverage for a Mercedes-Benz and obtain the lowest price.
If you have insurance now or are shopping for new coverage, you can use these techniques to get lower rates while maintaining coverages. Pricing the lowest cost car insurance is quite easy. Vehicle owners only need an understanding of the proper way to find the lowest price online.
Mercedes-Benz SLK-Class rates are complex
Smart consumers have a good feel for the rating factors that come into play when calculating your auto insurance rates. Knowing what impacts premium levels enables informed choices that may reward you with better auto insurance rates.
- Poor credit can mean higher rates – Having a bad credit rating is a important factor in determining what you pay for auto insurance. Drivers who have good credit tend to be better drivers and file fewer claims than drivers who have lower credit ratings. If your credit rating can use some improvement, you could save money insuring your 2008 Mercedes-Benz SLK-Class by improving your credit score.
- Low deductibles can be expensive – Physical damage insurance, otherwise known as comp (or other than collision) and collision, is used to repair damage to your Mercedes-Benz. Examples of covered claims are collision with another vehicle, damage from fire, or theft. Deductibles for physical damage are how much you are required to spend before a claim is paid by your company. The more money you’re willing to pay, the less your auto insurance will be for SLK-Class insurance.
- Having a spouse can save you money – Having a spouse can actually save you money on your auto insurance policy. Having a spouse means you’re more responsible and it’s proven that drivers who are married are more cautious.
- Liability insurance protects assets – Liability insurance provides coverage if a jury decides you are liable for causing damage or personal injury in an accident. Liability insurance provides you with a defense in court up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so do not skimp.
- Where you live can impact rates – Being located in a small town has it’s advantages when buying auto insurance. City drivers tend to have congested traffic and longer commutes to work. Lower population means reduced accidents.
Don’t miss out on these money-saving discounts
The price of auto insurance can be rather high, buy you may qualify for discounts to cut the cost considerably. Some trigger automatically at the time of quoting, but some may not be applied and must be specifically requested before you will receive the discount. If you don’t get every credit you deserve, you are throwing money away.
- Good Students Pay Less – This discount can save 20 to 25%. The discount lasts until age 25.
- Life Insurance – Larger companies have better rates if you take out auto and life insurance together.
- Low Mileage Discounts – Low mileage vehicles could be rewarded with discounted rates on garaged vehicles.
- Passive Restraints – Cars that have air bags and/or automatic seat belt systems can receive discounts up to 30%.
- Drivers Ed for Students – Require your teen driver to take driver’s ed class in high school.
- No Charge for an Accident – A handful of insurance companies permit an accident before raising your premiums so long as you haven’t had any claims for a certain period of time.
- Military Rewards – Being on active duty in the military can result in better rates.
- Driver Safety – Successfully completing a driver safety course can save you 5% or more and easily recoup the cost of the course.
It’s important to understand that some credits don’t apply to the entire policy premium. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. So despite the fact that it appears you can get free auto insurance, companies don’t profit that way. Any qualifying discounts will cut the cost of coverage.
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Do I need special coverages?
When it comes to choosing adequate coverage for your vehicles, there isn’t really a single plan that fits everyone. Everyone’s situation is a little different.
These are some specific questions may help highlight whether you might need an agent’s assistance.
- How much can I save by bundling my policies?
- Can I rent a car in Mexico?
- Will I be non-renewed for getting a DUI or other conviction?
- Does liability extend to a camper or trailer?
- If I drive on a suspended license am I covered?
- Does my car insurance cover rental cars?
- Does coverage extend to Mexico or Canada?
- Is my vehicle covered by my employer’s policy when using it for work?
- Do I have newly-aquired coverage?
- How high should my medical payments coverage be?
If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to an insurance agent. To find an agent in your area, simply complete Coverages available on your policy
Knowing the specifics of a insurance policy can help you determine the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and coverage can change by endorsement.
Med pay and Personal Injury Protection (PIP)
Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses like doctor visits, rehabilitation expenses and prosthetic devices. They are often used to cover expenses not covered by your health insurance policy or if you do not have health coverage. They cover both the driver and occupants and also covers any family member struck as a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay
This coverage covers damage to your SLK-Class resulting from a collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against claims such as driving through your garage door, rolling your car, damaging your car on a curb and colliding with a tree. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. Drivers also have the option to bump up the deductible to save money on collision insurance.
Uninsured/Underinsured Motorist (UM/UIM)
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your Mercedes-Benz SLK-Class.
Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Usually the UM/UIM limits do not exceed the liability coverage limits.
This will cover damage that occurs to a person or their property. It protects you from legal claims by others, and doesn’t cover damage to your own property or vehicle.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property. Alternatively, you may have one number which is a combined single limit which provides one coverage limit without having the split limit caps.
Liability coverage pays for things like pain and suffering, court costs and structural damage. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as high a limit as you can afford.
This coverage covers damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage pays for claims like hitting a deer, a tree branch falling on your vehicle, damage from a tornado or hurricane and hitting a bird. The maximum amount a insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.
Knowledge is power
The cheapest 2008 Mercedes-Benz SLK-Class insurance can be sourced online and with local insurance agents, and you need to price shop both to have the best selection. A few companies do not offer the ability to get a quote online and most of the time these regional insurance providers sell through independent agents.
As you restructure your insurance plan, never reduce coverage to reduce premium. There are many occasions where an insured cut collision coverage and discovered at claim time that the savings was not a smart move. Your goal should be to get the best coverage possible at the best price.
People leave their current company for a variety of reasons including high rates after DUI convictions, lack of trust in their agent, delays in paying claims and even poor customer service. No matter why you want to switch, finding a great new company is not as hard as you think.
For more information, feel free to browse the following helpful articles:
- Property Damage Coverage (Liberty Mutual)
- Help Your Teen Be a Better Driver (State Farm)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Insitute)
- State Laws for Cellphones and Texting (iihs.org)
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Insitute)
- All About Airbag Safety (State Farm)
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