2002 Mercedes-Benz SLK-Class Car Insurance Cost – 5 Tips to Save

Searching for lower insurance coverage rates for your Mercedes-Benz SLK-Class? Are you confused by the sheer number of insurance coverage choices? Many other drivers are as well. Consumers have so many options available that it can turn into a lot of work to find the best price.

It’s a good idea to take a look at other company’s rates periodically because prices change quite often. If you had the best deal on SLK-Class insurance a year ago you can probably find a lower rate today. Block out anything you think you know about insurance coverage because you’re about to find out the best methods to get good coverage at a lower rate.

How to Compare Insurance Costs

All the larger insurance companies provide pricing online. The process doesn’t take much effort as you simply type in the coverages you want into a form. After the form is submitted, their rating system will obtain credit information and your driving record and quotes a price based on these and other factors.

This helps simplify price comparisons, but the time it takes to visit a lot of sites and complete many quote forms is not the best way to spend an afternoon. But it is imperative to get many rate quotes if you want to find a better rate.

An easier way to lower your rates uses one form to obtain quotes from a lot of companies. This type of form saves time, eliminates repetitive work, and makes online price comparison much easier. After sending the form, your coverage is rated and you are able to buy any of the resulting price quotes. If the quotes result in lower rates, you can simply submit the application and buy the new coverage. It can be completed in less than 10 minutes and may save quite a bit of money.

In order to find out what other companies charge, click here and input your coverage information. If you have a policy now, it’s recommended you replicate the insurance coverages identical to your current policy. This guarantees you will get a rate comparison for similar insurance coverage.

Don’t be fooled by advertising claims

Allstate and Progressive continually stream ads on television and other media. All the companies make an identical promise about savings after switching to them. How does each company make the same claim?

Different companies can use profiling for the type of driver that is profitable for them. For example, a driver they prefer might be over the age of 50, has no prior claims, and has a short commute. Any new insured who meets those qualifications will qualify for the lowest rates and as a result will probably save when switching.

Potential insureds who fall outside the requirements will have to pay higher rates and ends up with the customer not buying. The ads say “people who switch” not “everybody who quotes” save money. That’s why insurance companies can confidently advertise the way they do. Because of the profiling, you need to compare as many rates as you can. It’s not possible to predict which company will fit your personal profile best.

You probably qualify for some discounts

Companies offering auto insurance don’t list every discount in a way that’s easy to find, so here is a list some of the more common and also the lesser-known ways to save on insurance.

  • Good Student – Performing well in school can get you a discount of up to 25%. The discount lasts up until you turn 25.
  • Passive Restraints and Air Bags – Vehicles equipped with air bags or automatic seat belts can receive discounts of up to 25% or more.
  • Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and therefore earn up to a 10% discount.
  • Pay Upfront and Save – If you pay your bill all at once instead of paying each month you could save 5% or more.
  • Resident Student – Youth drivers living away from home attending college and don’t have a car may qualify for this discount.

Keep in mind that most discounts do not apply the the whole policy. Some only apply to the cost of specific coverages such as comp or med pay. Just because it seems like adding up those discounts means a free policy, you’re out of luck.

Car insurance companies that may offer these money-saving discounts include:

Check with each insurance company which discounts they offer. Discounts might not apply in your state.

There’s no such thing as the perfect policy

When choosing the right insurance coverage, there really is no one size fits all plan. Every insured’s situation is different.

For instance, these questions could help you determine if your situation would benefit from professional advice.

  • If my 2002 Mercedes-Benz SLK-Class is totaled, can I afford another vehicle?
  • Am I better off with higher deductibles on my 2002 Mercedes-Benz SLK-Class?
  • Do I have coverage when making deliveries for my home business?
  • Do I get a pro-rated refund if I cancel my policy early?
  • Can I rent a car in Mexico?
  • At what point should I drop full coverage?
  • Exactly who is provided coverage by my policy?
  • Are my friends covered when driving my car?
  • Can I get a multi-policy discount?

If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, complete this form.

The coverage is in the details

Understanding the coverages of a car insurance policy aids in choosing appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and coverage can change by endorsement.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

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.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP pay for bills such as EMT expenses, hospital visits and pain medications. The coverages can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. It covers both the driver and occupants and also covers getting struck while a pedestrian. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Liability coverages

Liability insurance protects you from damage that occurs to people or other property in an accident. It protects YOU from legal claims by others, and doesn’t cover damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and property damage coverage for $50,000.

Liability coverage pays for things like bail bonds, loss of income, emergency aid and funeral expenses. How much liability coverage do you need? That is up to you, but you should buy as high a limit as you can afford.

Comprehensive insurance

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as damage from getting keyed, falling objects, a broken windshield, hitting a deer and theft. The maximum amount a car insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Coverage for collisions

This coverage pays for damage to your SLK-Class from colliding with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as damaging your car on a curb, driving through your garage door, colliding with another moving vehicle and hitting a parking meter. This coverage can be expensive, so consider dropping it from lower value vehicles. It’s also possible to bump up the deductible to bring the cost down.

A little work can save a LOT of money

Discount 2002 Mercedes-Benz SLK-Class insurance can be found from both online companies in addition to many insurance agents, and you should compare price quotes from both to have the best chance of lowering rates. Some insurance companies do not provide the ability to get a quote online and usually these small, regional companies provide coverage only through local independent agents.

You just read many ideas to compare insurance prices online. It’s most important to understand that the more quotes you get, the higher the chance of saving money. You may even find the best prices are with a small mutual company.

As you prepare to switch companies, it’s a bad idea to sacrifice coverage to reduce premiums. Too many times, someone sacrificed comprehensive coverage or liability limits and found out when filing a claim that it was a big error on their part. The aim is to find the BEST coverage at the best price.

Additional car insurance information is available at these links: