Amazingly, most auto insurance policyholders kept buying from the same company for more than four years, and approximately 38% of consumers have never even compared rates from other companies. Consumers in California could save an average of up to $469 each year just by comparing rates, but they assume it’s a waste of time to shop around.
The best way to get the cheapest Mercedes-Benz E350 insurance is to compare quotes annually from companies that insure vehicles in Bakersfield.
- Read and learn about how auto insurance works and the factors you can control to drop your rates. Many factors that cause rate increases such as traffic violations, accidents, and an imperfect credit score can be improved by making small lifestyle or driving habit changes. This article provides ideas to get cheaper coverage and earn a bigger discount.
- Compare prices from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from one company like GEICO or State Farm, while agents who are independent can quote rates for a wide range of insurance providers.
- Compare the quotes to your current policy to determine if switching companies saves money. If you find a lower rate quote and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
One key aspect when comparing rates is that you use the same physical damage deductibles and liability limits on every quote request and and to analyze every company you can. This helps ensure a level playing field and a complete price analysis.
Car insurance statistics and figures
The coverage table displayed next showcases estimates of coverage costs for Mercedes-Benz E350 models. Learning a little about how insurance premiums are figured can assist in making smart choices when choosing a car insurance company.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|E350 2-Dr Coupe||$300||$778||$424||$26||$128||$1,656||$138|
|E350 4-Dr Sedan||$330||$698||$330||$20||$98||$1,476||$123|
|E350 with 4-MATIC 4-Dr Sedan||$330||$698||$330||$20||$98||$1,476||$123|
|Get Your Own Custom Quote Go|
Cost estimates assume single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Rates do not factor in vehicle garaging location which can affect rates substantially.
Impact of citations and accidents on insurance rates
The example below shows how traffic citations and at-fault collisions raise Mercedes-Benz E350 insurance costs for each age group. The data is based on a married male driver, full coverage, $250 deductibles, and no discounts are applied to the premium.
Does it make sense to buy full coverage?
The information below visualizes the comparison of Mercedes-Benz E350 premium costs when comparing full coverage to liability only. The information is based on no driving violations, no at-fault accidents, $500 deductibles, single marital status, and no other discounts are factored in.
When to switch to liability coverage only
There is no exact formula of when to stop paying for full coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s assume your Mercedes-Benz E350 replacement cost is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $5,000 after paying your deductible. If you are paying in excess of $500 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are some circumstances where buying only liability insurance is not a good plan. If you still owe a portion of the original loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should maintain full coverage.
You Can Change Your Insurance Rates
Many factors are part of the calculation when premium rates are determined. Some factors are common sense such as your driving history, although some other factors are more obscure like where you live and annual miles driven.
Don’t skimp on liability protection – Liability coverage will provide protection if ever a jury decides you are liable for causing personal injury or damage in an accident. Your liability coverage provides legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so drivers should buy more than the minimum limits required by law.
A good credit rating can save money – Your credit rating can be an important factor in determining what you pay for insurance. Insureds that have excellent credit scores tend to be more responsible as compared to drivers with lower ratings. Therefore, if your credit rating can use some improvement, you may save money insuring your Mercedes-Benz E350 if you improve your credit rating.
Rates also based on gender – The statistics show women tend to be less risk to insure than men. However, this does not mean males are worse at driving than females. Females and males get in accidents in similar numbers, but the men tend to have higher claims. Men also get ticketed for serious violations like DWI (DUI) or reckless driving. Male drivers age 16 to 19 cause the most accidents and therefore have the most expensive insurance rates.
The information below shows the comparison of Mercedes-Benz E350 car insurance costs for male and female drivers. The rates are based on no claims or violations, full physical damage coverage, $100 deductibles, drivers are not married, and no discounts are taken into consideration.
Your career may increase prices – Jobs such as judges, air traffic controllers, and financial analysts generally pay higher premium rates attributed to high stress levels and lots of time spent at work. Conversely, careers such as professors, engineers and retirees receive lower rates.
Raise comp and collision deductibles and save – Comprehensive and collision coverage deductibles define how much you are willing to pay if the claim is covered. Physical damage coverage, also called comprehensive and collision insurance, covers damage that occurs to your car. Some examples of covered claims are a windshield broken by a bird, vandalism, and having a roll-over accident. The more money you are required to pay out-of-pocket, the better rate you will receive.
One last thing about your coverage
As you restructure your insurance plan, never buy less coverage just to save a little money. In many instances, someone dropped comprehensive coverage or liability limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. The ultimate goal is to get the best coverage possible at a price you can afford and still be able to protect your assets.
Low-cost Mercedes-Benz E350 insurance in Bakersfield can be purchased on the web as well as from independent agents in Bakersfield, so you should compare both in order to have the best chance of saving money. Some companies don’t offer rate quotes online and usually these small, regional companies sell through local independent agents.
You just learned many tips how you can shop for Mercedes-Benz E350 insurance online. It’s most important to understand that the more providers you compare, the higher your chance of finding affordable Mercedes-Benz E350 insurance quotes. You may even be surprised to find that the lowest auto insurance rates come from a lesser-known regional company.
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)
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- What Insurance is Cheapest for Inexperienced Drivers in Bakersfield? (FAQ)
- Who Has the Cheapest Auto Insurance for Teenage Males in Bakersfield? (FAQ)
- Help Your Teen Be a Better Driver (State Farm)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)
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- Learn About Car Insurance (GEICO)