Wondering how you can lower your car insurance cost without having to compromise on the coverage you have? There are several ways to do exactly that with your Mercedes-Benz.
In 2020, we all found ourselves staying in more and going out less. With fewer places to go and fewer drivers out and about in their cars, the chances of an accident occurring were lower, and many of our car insurance premiums went down due to the rebates given out by insurance providers. But we are once again witnessing an uptick in premiums and money still remains tight, so can you still get cheaper car insurance rates? The answer is yes – there are several ways to keep your car insurance cost down and get the most bang for your buck.
Shop around for the best pricing
This may seem like an obvious suggestion, but many people just renew their policies year in, year out, without doing a comparison or shopping around among different auto insurance providers to see if another company can beat your current policy rate. And if you happen to have moved state, you should definitely check with local providers rather than just sticking with whoever you used in your previous place of residence, as policy prices vary quite a bit from one state to another.
Check out the sites that offer multi-lender options and have a marketplace where you can shop around, and see which auto insurance provider can give you the best pricing for your specific parameters.
Once you have quotes from multiple insurance providers, you should also check in with your current insurer to see if they will price match. There could be a difference of several hundred dollars between policies from different auto insurance providers since they have differing yardsticks when it comes to pricing risk.
Negotiate with your current auto insurer
If you don’t want to go to a new provider, then we suggest that you do some negotiating on the rate that your current auto insurer is offering you. Most insurers do offer discounts for things like defensive driving courses taken, fewer miles driven, and a change in your on-road patterns that would make you less of a risk to insure. This year, many people have been obliged to spend more time at home, and even after the rebates have stopped, the changes in our schedules and continued commitment to spend less time commuting and traveling will make additional discounts based on lower mileage a likely possibility.
In addition, ask your insurance provider if there are any options they can suggest that would enable you to qualify for a lower rate on your existing auto insurance policy. Removing a driver who is no longer driving the car and updating other details that could impact your policy pricing are small but important ways you can help yourself get the best pricing on your car insurance policy.
Bundle your auto and home insurance policies to maximise savings
Another way to lower cost is bundling your auto insurance with your home insurance policy, if you are a homeowner or are planning to become one shortly. Often, when you go to one provider for both your home and auto insurance needs, they will create a combined policy with additional savings, giving you a better rate on both than would be the case if you had two separate policies. And since that combined policy can bring your premium down by as much as 25%, this is too significant a savings opportunity to pass up, so even if it means you will need to switch out from your current provider for auto as well as home insurance, the savings makes it a worthwhile investment of your time and energy. You can also check with your current providers to see if they will create a bundled policy for you and choose whichever one (auto or home insurer) gives you the most competitive pricing.
Remember to compare based on coverage type and required coverage needs
Again, while this may seem an obvious suggestion, it is absolutely vital that you compare the exact same level of coverage (and deductibles too), to ensure that you are not taken in by a seemingly excellent policy pricing only to discover later that the coverage is lower and deductible higher than your previous arrangement. Do make sure the quotes you are getting are comparable to your current coverage. Another thing to check for is that the auto insurer is giving you at least the minimum amount of liability coverage mandated by the state you are living and driving in.