View 2003 Mercedes-Benz S-Class Car Insurance Rates

Are you intimidated by the number of auto insurance options? You’re not the only one! Drivers have so many companies to choose from that it can easily become more work than you anticipated to find the lowest price.

If you currently have a car insurance policy, you will most likely be able to save some money using this information. Finding more affordable coverage can be fairly easy. Nevertheless, car owners should learn the methods companies use to price insurance differently and use this information to your advantage.

Factors determining your Mercedes-Benz S-Class insurance premium

It’s important that you understand the factors that help determine your insurance rates. Knowing what influences your rates empowers consumers to make smart changes that will entitle you to better insurance rates.

  • Clean credit earns discounts – A driver’s credit score is a large factor in determining your rates. If your credit is lower than you’d like, you could be paying less to insure your 2003 Mercedes-Benz S-Class by repairing your credit. Drivers who have excellent credit tend to be better drivers and file fewer claims than those with poor credit.
  • Save money with special equipment – Choosing a vehicle with a theft deterrent system can help lower your rates. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart car theft.
  • Tickets mean higher rates – Whether or not you get tickets impacts your car insurance rates tremendously. Drivers who don’t get tickets have lower premiums than their less careful counterparts. Even a single moving violation can bump up the cost by twenty percent. Drivers with dangerous tickets such as DUI or reckless driving are required to submit a SR-22 form to the state department of motor vehicles in order to prevent a license revocation.
  • Increase deductibles and save – Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, is used to repair damage to your Mercedes-Benz. Examples of covered claims could be running into the backend of another car, collision with an animal, and windstorm damage. Physical damage deductibles are how much you are required to spend out-of-pocket before your insurance pays a claim. The more you’re willing to pay, the less your company will charge you for insurance on S-Class coverage.
  • Multi-policy discounts can save money – The majority of insurers provide better rates to customers who carry more than one policy. It’s known as a multi-policy discount. Discounts can amount to five, ten or even twenty percent. If you currently are using one company, it’s in your best interest to compare other company rates to make sure you are getting the best deal.
  • How your age affects price – More mature drivers are more cautious drivers, file fewer claims and tend to be better behind the wheel. Teen drivers are statistically proven to get distracted easily when driving therefore insurance rates are much higher.
  • Marriage pays dividends – Having a wife or husband can actually save you money on your policy. Marriage translates into being more mature it has been statistically shown that being married results in fewer claims.
  • Extra add-on coverages are wasting money – There are quite a few add-on coverages that you can buy when buying insurance. Insurance for vanishing deductibles, towing coverage and motor club memberships may be costing you every month. These may sound like a good investment when you first buy your policy, but if you don’t need them eliminate the coverages to reduce your premium.

You probably qualify for some discounts

The cost of insuring your cars can be expensive, but discounts can save money and there are some available to help bring down the price. Larger premium reductions will be automatically applied when you get a quote, but some may not be applied and must be asked for prior to getting the savings.

  • No Charge for an Accident – A handful of insurance companies permit an accident without raising rates if you are claim-free for a set time period.
  • Driver Safety – Successfully completing a defensive driving course could possibly earn you a 5% discount and easily recoup the cost of the course.
  • Employee of Federal Government – Simply working for the federal government could cut as much as 10% off on S-Class coverage with select insurance companies.
  • Own a Home – Owning a house can save you money because maintaining a house demonstrates responsibility.
  • Good Students Pay Less – A discount for being a good student can be rewarded with saving of up to 25%. This discount can apply until age 25.
  • No Accidents – Drivers who don’t have accidents can save substantially when compared to accident-prone drivers.
  • Military Rewards – Having a family member in the military can result in better rates.
  • Seat Belt Usage – Using a seat belt and requiring all passengers to use their safety belts could cut 10% or more on the medical payments or PIP coverage costs.
  • College Student – Children living away from home attending college and do not have a car can receive lower rates.

Consumers should know that many deductions do not apply to your bottom line cost. Most only cut the price of certain insurance coverages like comprehensive or collision. Even though it may seem like you would end up receiving a 100% discount, it doesn’t quite work that way. But any discount will help reduce the cost of coverage.

To see a list of providers offering insurance discounts, click this link.

Don’t be fooled by advertising claims

Insurance coverage providers like Allstate, Geico and Progressive consistently run ads on television and other media. They all make an identical promise that you’ll save big if you change to their company. But how can every company make the same claim?

Different companies can use profiling for the right customer that earns them a profit. A good example of a desirable insured could possibly be over the age of 40, has no driving citations, and has a high credit rating. Any driver who matches those parameters will get the preferred rates and is almost guaranteed to save quite a bit of money when switching.

Consumers who don’t qualify for these standards will be quoted higher rates and this can result in business going elsewhere. Company advertisements say “people who switch” but not “drivers who get quotes” save that much money. That is how insurance companies can make those claims.

This emphasizes why it is so important to get as many comparisons as possible. It’s not possible to predict which insurance coverage company will fit your personal profile best.

There’s no such thing as the perfect policy

When it comes to buying the right insurance coverage for your personal vehicles, there is no single plan that fits everyone. Coverage needs to be tailored to your specific needs.

For example, these questions can help discover if your situation might need an agent’s assistance.

  • Does my liability insurance cover pulling a trailer or camper?
  • Are my friends covered when driving my car?
  • If I drive on a suspended license am I covered?
  • Can I afford to pay high deductible claims out of pocket?
  • Do I need replacement cost coverage?
  • Is rental equipment covered for theft or damage?

If you’re not sure about those questions, you might consider talking to a licensed agent. If you don’t have a local agent, fill out this quick form.

Educate yourself about auto insurance coverages

Learning about specific coverages of auto insurance can help you determine which coverages you need and the correct deductibles and limits. The terms used in a policy can be confusing and coverage can change by endorsement.

Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage pay for bills for surgery, hospital visits and nursing services. The coverages can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Collision – This coverage covers damage to your S-Class caused by collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims like backing into a parked car, crashing into a ditch, sideswiping another vehicle, driving through your garage door and hitting a parking meter. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible in order to get cheaper collision rates.

Comprehensive coverages – This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims like hitting a bird, vandalism, a broken windshield, damage from flooding and damage from getting keyed. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Mercedes-Benz S-Class.

Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important. Usually the UM/UIM limits are set the same as your liablity limits.

Liability coverages – This coverage can cover damage or injury you incur to other people or property that is your fault. It protects you against claims from other people. Liability 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 might see values of 50/100/50 which stand for a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery. Alternatively, you may have a combined limit that pays claims from the same limit with no separate limits for injury or property damage.

Liability coverage pays for claims like repair bills for other people’s vehicles, medical services, structural damage and funeral expenses. The amount of liability coverage you purchase is a decision to put some thought into, but buy as large an amount as possible.

Make an honest buck

Drivers who switch companies do it for any number of reasons including being labeled a high risk driver, delays in responding to claim requests, an unsatisfactory settlement offer and even high prices. It doesn’t matter what your reason, switching insurance companies can be easier than you think.

Budget-conscious 2003 Mercedes-Benz S-Class insurance is available on the web and with local insurance agents, so you should be comparing quotes from both to have the best rate selection. There are still a few companies who do not offer the ability to get a quote online and many times these regional insurance providers only sell through independent insurance agents.

As you restructure your insurance plan, do not skimp on coverage in order to save money. There have been many cases where consumers will sacrifice uninsured motorist or liability limits only to regret that the savings was not a smart move. Your goal should be to find the BEST coverage at the best price, not the least amount of coverage.

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