Save on Mercedes-Benz E350 Insurance in Plano

Statistics show that a large majority of drivers have bought car insurance from the same company for at least the last four years, and nearly the majority have never compared quotes from other companies. Texas drivers could save roughly $1,800 every year by just comparing quotes, but most tend to underestimate the large savings they would see if they moved their coverage to a different company.

Discount Mercedes-Benz E350 insuranceReally, the only way to find cheaper quotes for Mercedes-Benz E350 insurance is to do a yearly price comparison from companies who provide auto insurance in Plano. Price quotes can be compared by following these guidelines.

One key aspect when comparing rates is that you’ll want to make sure you compare the same deductibles and limits on each price quote and and to analyze as many companies as possible. This enables an apples-to-apples comparison and the best price quote selection.

The Mercedes-Benz E350 Insurance Cost Equation

Lots of factors are taken into consideration when pricing auto insurance. Some factors are common sense like a motor vehicle report, but some are less obvious like your vehicle usage or your financial responsibility. A large part of saving on auto insurance is knowing the factors that go into determining your auto insurance rates. When you know what positively or negatively determines premiums, this allows you to make educated decisions that can help you get much lower annual insurance costs.

Where you call home can modify rates – Residing in smaller towns and rural areas of the country is a good thing when talking about auto insurance. Drivers who live in large cities tend to have more aggressive driving styles and a longer drive to work. Lower population corresponds to lower accident rates and lower theft and vandalism rates.

Get married and get better prices – Your spouse helps lower the price on your auto insurance policy. Having a spouse translates into being less irresponsible and insurance companies like that drivers who are married are more cautious.

Cars with good safety ratings save money – Cars with five star safety ratings tend to have better insurance rates. Vehicles engineered for safety have better occupant injury protection and any reduction in injury severity translates directly to fewer claims which can mean better rates for you.

More mileage equals more premium – Driving a lot of miles in a year the more you’ll pay to insure it. Most companies price each vehicle’s coverage based on how the vehicle is used. Cars left parked in the garage can be on a lower rate level than those used for commuting. An improperly rated E350 is throwing money out the window. It’s always a good idea to double check that your vehicle rating correctly shows the right rating data.

Prices may be lower depending on your employer – Careers like doctors, social workers, and accountants usually pay higher rates than the rest of us attributed to high stress levels and extremely grueling work hours. On the flip side, occupations such as professors, engineers and retirees receive lower rates.

Don’t skimp on liability protection – Your auto insurance policy’s liability coverage will afford coverage if you are found to be at fault for damages caused by your negligence. Liability insurance provides for a legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to comp and collision, so buy as much as you can afford.

Facts and figures for Mercedes-Benz E350 insurance

The price information shown next outlines estimates of insurance policy prices for Mercedes-Benz E350 models. Having a better idea how insurance rates are calculated helps drivers make informed decisions when shopping around for a new policy.

Mercedes-Benz E350 Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
E350 2-Dr Coupe $258 $706 $366 $22 $110 $1,462 $122
E350 4-Dr Sedan $286 $632 $284 $16 $86 $1,304 $109
E350 with 4-MATIC 4-Dr Sedan $286 $632 $284 $16 $86 $1,304 $109
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Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Price information does not factor in garaging location in Plano which can change premium rates noticeably.

Analysis of deductible levels

One of the hardest decisions when shopping for insurance is where should you set your physical damage deductibles. The figures shown below approximate the rate difference when you choose different physical damage deductibles. The first rate quote example uses a $100 physical damage deductible and the second rate table uses a $500 deductible.

Mercedes-Benz E350 insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
E350 2-Dr Coupe $412 $1014 $324 $20 $96 $1,891 $158
E350 4-Dr Sedan $454 $908 $252 $14 $76 $1,729 $144
E350 with 4-MATIC 4-Dr Sedan $454 $908 $252 $14 $76 $1,729 $144
Get Your Own Custom Quote Go

Mercedes-Benz E350 insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
E350 2-Dr Coupe $300 $686 $324 $20 $96 $1,426 $119
E350 4-Dr Sedan $332 $614 $252 $14 $76 $1,288 $107
E350 with 4-MATIC 4-Dr Sedan $332 $614 $252 $14 $76 $1,288 $107
Get Your Own Custom Quote Go

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Rates do not factor in specific garaging location which can modify rates significantly.

We can estimate from the data above that using a $100 deductible costs approximately $38 more each month or $456 each year across all Mercedes-Benz E350 models than requesting the higher $500 deductible. Since you would pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you normally average more than 11 months between claim filings, you would save more money if you decide on a higher deductible. The table below shows an example of how you can decide this on your own policy.

Average monthly premium for $100 deductibles: $149
Average monthly premium for $500 deductibles (subtract): – $111
Monthly savings from raising deductible: $38
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $38
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 11 months

One big caveat is that a higher deductible level means you will have to cover more of the damage yourself at claim time. You need to make sure you have enough disposable savings in the event you have to pay more to get your vehicle repaired.

Does full coverage make sense?

The information below visualizes the comparison of Mercedes-Benz E350 auto insurance costs with and without physical damage coverage. The price estimates are based on no driving violations, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are applied.

Deciding between full coverage and liability only

There is no written rule of when to eliminate physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of your full coverage insurance is 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.

For example, let’s pretend your Mercedes-Benz E350 replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after paying your policy deductible. If premiums are more than $400 annually to have full coverage, then it might be time to consider dropping full coverage.

There are a few cases where buying only liability insurance is not in your best interest. If you haven’t paid off your loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not remove full coverage.

Get affordable Mercedes-Benz E350 insurance in Plano with discounts

Buying auto insurance is not cheap, but you may find discounts that you may not even be aware of. Certain reductions will be credited at the time you complete a quote, but some may not be applied and must be inquired about before being credited. If you do not double check each discount you qualify for, you are paying more than you should be.Discount auto insurance

Drivers should understand that most discounts do not apply to the whole policy. Some only reduce individual premiums such as comp or med pay. So even though it sounds like you can get free auto insurance, nobody gets a free ride.

The example below illustrates the difference between Mercedes-Benz E350 auto insurance costs with and without discounts. The data is based on a female driver, no claims or driving citations, Texas state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, claim-free, safe-driver, multi-policy, and multi-car discounts applied.

If you would like to view insurers with the best Mercedes-Benz E350 insurance discounts in Plano in Plano, click this link.

Texas auto insurance company ratings

Finding the top company can be difficult considering how many companies are available to choose from in Texas. The company rank data in the next section could help you choose which auto insurers you want to consider when comparing rate quotes.

Top 10 Plano Car Insurance Companies Ranked by Customer Service

  1. USAA
  2. Travelers
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Safeco Insurance
  7. Progressive
  8. State Farm
  9. The Hartford
  10. The General

Top 10 Plano Car Insurance Companies Ranked by Claims Service

  1. Travelers
  2. Nationwide
  3. Allstate
  4. State Farm
  5. Liberty Mutual
  6. GEICO
  7. American Family
  8. Esurance
  9. Titan Insurance
  10. AAA Insurance

One last note

When buying insurance coverage, don’t be tempted to buy lower coverage limits just to save a few bucks. There have been many cases where an accident victim reduced liability limits or collision coverage and found out when filing a claim that the few dollars in savings costed them thousands. Your strategy should be to get the best coverage possible for the lowest cost, but do not sacrifice coverage to save money.

There are still a few companies who may not provide the ability to get quotes online and many times these small, regional companies provide coverage only through independent agents. Low-cost Mercedes-Benz E350 insurance in Plano is possible online and with local Plano insurance agents, so you should compare both to get a complete price analysis.

We just showed you quite a bit of information on how to save on Mercedes-Benz E350 insurance in Plano. It’s most important to understand that the more price quotes you have, the better chance you’ll have of finding affordable Mercedes-Benz E350 insurance quotes. Consumers may even find the best price on car insurance is with a small mutual company. Smaller companies may have significantly lower auto insurance rates on certain market segments than the large multi-state companies such as Progressive or GEICO.

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