2008 Mercedes-Benz SLR McLaren Car Insurance Cost – 5 Discounts for Cheapest Prices

Have you fallen victim to an underperforming, overpriced insurance coverage policy? Believe me, you’re not alone.

With consumers having so many insurance providers from which to choose, it is very difficult to pick the lowest cost insurer.

Buying car insurance is not that difficult. If you have car insurance now, you stand a good chance to be able to save some money using this information. But drivers need to have an understanding of how companies price insurance differently because it can help you find the best coverage.

Compare the Market for Car Insurance

When shopping for car insurance there are multiple ways of comparing price quotes from car insurance companies in your area. The best method to find the cheapest 2008 Mercedes-Benz SLR McLaren insurance rates is simply to get online rate quotes. This can be done in just a few minutes using one of these methods.

  • The first (and easiest) way to get the best comparison quotes is an all-inclusive rate comparison like this one (opens in new window). This type of form saves time by eliminating separate forms to each individual car insurance company. One quote request will return price quotes direct from many companies.
  • A less efficient way to compare prices consists of going to the website of each company and request a quote. For sake of this example, we’ll assume you want to compare Liberty Mutual, Esurance and Allstate. To get each rate you have to take the time to go to each site and enter your information, and that’s why the first method is more popular.

    For a list of links to companies insuring cars in your area, click here.

  • The hardest way to compare rates is driving to different agent offices. Shopping for car insurance online makes this process obsolete unless you require the trained guidance only provided by licensed agents. Drivers can compare online quotes and get advice from an agent in your area and we’ll cover that in a bit.

It’s your choice how you get your quotes, but make darn sure you compare apples-to-apples coverage limits for every quote you compare. If each company quotes differing limits it will be next to impossible to truly determine the lowest rate. Having just a slight variation in coverages may cause a big price difference. And when comparison shopping, getting more free quotes will increase your chances of finding a lower rate.

Are you getting all your discounts?

Companies offering auto insurance don’t always advertise every available discount very clearly, so we break down some of the best known and the harder-to-find savings tricks you should be using.

  • Good Student Discount – Performing well in school can earn a discount of 20% or more. The good student discount can last up until you turn 25.
  • Low Mileage – Driving fewer miles can qualify you for discounted rates on garaged vehicles.
  • Senior Citizens – Older drivers may be able to get a discount up to 10% for SLR McLaren coverage.
  • Discounts for Safe Drivers – Drivers who avoid accidents may save up to 50% more for SLR McLaren coverage than drivers with accident claims.
  • Defensive Driver – Successfully completing a course in driver safety could save 5% or more if your company offers it.

Drivers should understand that most of the big mark downs will not be given to the entire policy premium. Most only reduce the cost of specific coverages such as medical payments or collision. So even though they make it sound like you could get a free auto insurance policy, you won’t be that lucky.

For a list of insurance companies with discount auto insurance rates, click here.

When might I need an agent?

When it comes to choosing adequate coverage, there isn’t really a best way to insure your cars. Everyone’s situation is a little different so this has to be addressed. Here are some questions about coverages that might point out if you might need an agent’s assistance.

  • Is my custom paint covered by insurance?
  • What is the difference between comprehensive and collision coverage?
  • Does my policy cover me when driving someone else’s vehicle?
  • I have health insurance so do I need medical payments coverage?
  • What happens if I owe more than my 2008 Mercedes-Benz SLR McLaren is worth?
  • Am I covered if I crash into my own garage door?
  • Am I missing any policy discounts?

If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to an agent. If you don’t have a local agent, complete this form or click here for a list of car insurance companies in your area.

Ads can be misleading

Car insurance providers like 21st Century, Allstate and State Farm consistently run ads on TV and radio. They all make an identical promise that you can save if you change your policy. How do they all claim to save you money? This is how they do it.

Different companies are able to cherry pick for the driver they prefer to insure. A good example of a desirable insured could be over the age of 40, insures multiple vehicles, and has a high credit rating. A propective insured who fits that profile is entitled to the best price and is almost guaranteed to save when switching.

Potential customers who don’t qualify for these standards must pay higher rates and this can result in the customer not buying. The ads state “customers that switch” not “everyone that quotes” save that much. This is how insurance companies can make those claims. This illustrates why it’s extremely important to compare many company’s rates. Because you never know which insurance companies will give you the biggest savings on Mercedes-Benz SLR McLaren insurance.

What auto insurance coverages do you need?

Knowing the specifics of your auto insurance policy aids in choosing appropriate coverage and the correct deductibles and limits. The terms used in a policy can be confusing and nobody wants to actually read their policy. Shown next are typical coverages found on the average auto insurance policy.

Collision coverages – Collision insurance covers damage to your SLR McLaren resulting from colliding with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision coverage protects against things like scraping a guard rail, hitting a mailbox and backing into a parked car. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Drivers also have the option to raise the deductible to bring the cost down.

Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as damage to your Mercedes-Benz SLR McLaren.

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 should not be overlooked.

Medical expense coverage – Med pay and PIP coverage pay for expenses for doctor visits, dental work and ambulance fees. They are used to fill the gap from your health insurance plan or if there is no health insurance coverage. Coverage applies to all vehicle occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state but it provides additional coverages not offered by medical payments coverage

Liability coverage – Liability insurance can cover damage that occurs to other’s property or people by causing an accident. It protects you from claims by other people. Liability doesn’t 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. You commonly see limits of 25/50/25 which stand for a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.

Liability coverage protects against things like repair costs for stationary objects, loss of income, court costs and pain and suffering. The amount of liability coverage you purchase is a personal decision, but consider buying as large an amount as possible.

Comprehensive protection – Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things like vandalism, hitting a deer and damage from a tornado or hurricane. The most a auto insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Be a Smart Shopper

As you restructure your insurance plan, never reduce needed coverages to save money. There have been many situations where someone dropped physical damage coverage to discover at claim time they didn’t purchase enough coverage. Your strategy should be to purchase plenty of coverage at a price you can afford, not the least amount of coverage.

Cost effective 2008 Mercedes-Benz SLR McLaren insurance is definitely available both online in addition to many insurance agents, so you should compare both to have the best chance of lowering rates. A few companies do not provide you the ability to get quotes online and these smaller companies work with independent agents.

Helpful learning opportunities