Lower Your 2020 Mercedes-Benz SLK-Class Insurance Cost in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 10, 2024

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Looking for cheaper insurance coverage rates for your Mercedes-Benz SLK-Class? Finding cheaper insurance for your Mercedes-Benz SLK-Class can normally be difficult, but you can use the following methods to save time. There is a better way to compare insurance coverage rates and we’ll show you the proper way to quote coverages on a Mercedes-Benz and find the lowest price from local insurance agents and online providers.

Why you might pay increased rates

The best way to find cheaper auto insurance is to take a look at some of the elements that aid in calculating auto insurance rates. When you understand what influences your rates, this enables you to make decisions that will entitle you to lower rates.

  • Gender as a rate factor – The statistics show females are less aggressive when driving. The data does not necessarily mean that males are worse at driving than females. Women and men cause auto accidents in similar percentages, but the male of the species have costlier accidents. Not only that, but men also get cited for more serious violations like DWI (DUI) or reckless driving.
  • How old are your drivers? – More mature drivers have been proven to be more responsible, tend to file fewer claims , and usually have better credit. Teen drivers have a tendency to be less responsible behind the wheel so auto insurance rates are higher.
  • What’s your car’s crash test rating? – Safe vehicles tend to be cheaper to insure. Vehicles built for safety reduce occupant injuries and lower injury rates means lower claim amounts passed on to you as lower rates. If the Mercedes-Benz SLK-Class is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you may be receiving a better rate.
  • lapses raise rates – Driving with no insurance is a misdemeanor and any future policy may cost more because you let your insurance expire. And not only will insurance be more expensive, not being able to provide proof of insurance may result in a revoked license or a big fine. You may need to prove you have insurance by filing a SR-22 with your state DMV.
  • Responsible drivers pay lower premiums – A bad driving record has a lot to do with how much you pay for insurance. Only having one citation may cause rates to rise to the point where it’s not affordable. Attentive drivers have lower premiums than their less careful counterparts. Drivers who have gotten license-revoking citations such as DUI or willful reckless driving might be required by their state to submit a SR-22 form with their state motor vehicle department in order to legally drive.
  • Single vs. married – Having a wife or husband actually saves money on your auto insurance bill. Marriage is viewed as being more financially stable and statistics show married couples file fewer claims.
  • Car and home together may be cheaper – Many auto insurance companies give better rates to customers that buy multiple policies in the form of a multi-policy discount. Discounts can amount to ten or even up to twenty percent in some cases. Even if you already get this discount, consumers should still compare other company rates to guarantee you are still saving the most.
  • Your credit score is important – Credit history can be an important factor in your rate calculation. If your credit score could use some work, you could potentially save money when insuring your 2020 Mercedes-Benz SLK-Class by repairing your credit. Insureds that have high credit ratings tend to be more responsible and file fewer claims as compared to drivers with lower ratings.

Get lower rates by taking advantage of discounts

Auto insurance companies don’t list all discounts in a way that’s easy to find, so the list below contains a few of the more common and the more hidden credits that you can use to lower your rates.

  • New Vehicle Savings – Putting coverage on a new car can cost up to 25% less compared to insuring an older model.
  • Discount for Switching Early – A few insurance companies offer discounts for switching companies prior to the expiration date on your current policy. You may see this discount when you get auto insurance quotes online.
  • Own a Home – Owning your own home or condo may trigger a policy discount on auto insurance because it shows financial diligence.
  • Federal Government Employee – Employees or retirees of the government may reduce rates when you quote auto insurance on SLK-Class coverage with some auto insurance companies.
  • Good Student – Getting good grades may save you up to 25%. The good student discount can last up to age 25.
  • Braking Control Discount – Cars and trucks that have steering control and anti-lock brakes prevent accidents and qualify for as much as a 10% discount.
  • Seat Belt Discounts – Drivers who always wear seat belts and also require passengers to use their safety belts could cut 10% or more on the medical payments or PIP coverage costs.

A quick disclaimer, most discount credits are not given to all coverage premiums. Most cut the cost of specific coverages such as comprehensive or collision. So when it seems like having all the discounts means you get insurance for free, companies don’t profit that way.

Some companies that possibly offer some of the discounts shown above possibly include:

  • State Farm
  • Allstate
  • Farm Bureau
  • Progressive
  • AAA

Check with each company what discounts are available to you. Some discounts listed above may not be offered in your area.

How much auto insurance do I need?

When buying the best auto insurance coverage, there isn’t really a one size fits all plan. Every insured’s situation is different.

Here are some questions about coverages that can aid in determining if you will benefit from professional help.

  • Do I need PIP coverage since I have good health insurance?
  • Do I have any recourse if my insurance company denies a claim?
  • Do I need roadside assistance coverage?
  • What is the ISO rating for a 2020 Mercedes-Benz SLK-Class?
  • Is business equipment covered while in my vehicle?
  • Why does it cost so much to insure a teen driver?
  • Should I waive the damage coverage when renting a car?
  • What is covered by UM/UIM coverage?
  • Do I have coverage when using my vehicle for my home business?

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 an agent. To find lower rates from a local agent, simply complete your zip code. It is quick, free and can help protect your family.

Specific coverage details

Having a good grasp of car insurance can be of help when determining the right coverages for your vehicles. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy.

Collision coverage protection

This will pay to fix damage to your SLK-Class from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.

Collision insurance covers things like driving through your garage door, sideswiping another vehicle, colliding with another moving vehicle and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Drivers also have the option to choose a higher deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage gives you 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 as well as your vehicle’s damage.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.

Liability car insurance

This coverage provides protection from injuries or damage you cause to people or other property in an accident. It protects YOU from legal claims by others. It does not cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 100/300/100 that means you have $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability insurance covers claims such as repair costs for stationary objects, loss of income and funeral expenses. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage provide coverage for expenses for things like funeral costs, EMT expenses, ambulance fees, chiropractic care and nursing services. They are used to cover expenses not covered by your health insurance plan or if you do not have health coverage. Coverage applies to both the driver and occupants in addition to being hit by a car walking across the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Comprehensive insurance

This pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as hail damage, rock chips in glass, damage from a tornado or hurricane, hitting a bird and fire damage. The highest amount a car insurance company will pay at claim time is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Quote often and quote early

Drivers leave their current company for many reasons like not issuing a premium refund, delays in paying claims, policy non-renewal and even lack of trust in their agent. It doesn’t matter what your reason, finding a new insurance coverage company is pretty easy and you might even save some money in the process.

In this article, we covered some good ideas how to get a better price on 2020 Mercedes-Benz SLK-Class insurance. The key thing to remember is the more you quote auto insurance, the higher your chance of finding inexpensive auto insurance. Consumers may even find the best price on insurance coverage is with a smaller regional carrier.

When searching for cheap auto insurance quotes, it’s not a good idea to buy less coverage just to save a little money. There have been many situations where drivers have reduced uninsured motorist or liability limits only to discover later that it was a big mistake. Your focus should be to find the BEST coverage at an affordable rate, not the least amount of coverage.

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