How to Save on Mercedes-Benz C350 Insurance in Plano

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Insurance for Mercedes-Benz C350The preferred way to find affordable Mercedes-Benz C350 insurance is to start comparing prices yearly from insurers in Plano. Prices can be compared by completing these steps.

  • First, spend a few minutes and learn about what is in your policy and the measures you can control to prevent rate increases. Many rating criteria that increase rates like accidents, traffic violations, and a low credit rating can be amended by making minor changes in your lifestyle.
  • Second, get rate quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like GEICO and State Farm, while independent agents can quote prices from multiple insurance companies.
  • Third, compare the new rate quotes to your current policy premium to see if a cheaper price is available in Plano. If you find a better price and switch companies, make sure coverage is continuous and does not lapse.
  • Fourth, provide notification to your current agent or company of your intention to cancel the current policy. Submit payment and a completed application to the new company. As soon as you can, safely store the certificate of insurance above your visor, in the console, or in the glove compartment.

An essential thing to point out is that you use identical coverages on each quote request and and to get prices from every insurance company. This enables the most accurate price comparison and and a good selection of different prices.

Unbelievable but true according to a study most Texas auto insurance customers kept buying from the same company for at least the last four years, and nearly the majority have never shopped around. Many consumers in the U.S. can save hundreds of dollars each year by just comparing rate quotes, but they don't want to take the time to save money by comparing rate quotes.

The companies shown below are our best choices to provide free rate quotes in Texas. If you want the cheapest auto insurance in Plano, TX, we recommend you visit two to three different companies in order to find the most competitive rates.

Rates and other information

The rate information below highlights different coverage prices for Mercedes-Benz C350 models. Knowing how insurance premiums are determined can be of help when making smart choices when buying a policy.

Mercedes-Benz C350 Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
C350 W 4-Dr Sedan $196 $414 $430 $26 $128 $1,194 $100
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Cost estimates assume single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Estimates do not factor in zip code location which can lower or raise prices considerably.

Deductible analysis

One common question asked by Plano drivers is the level to set your comp and collision deductibles. The figures shown below illustrate the rate differences when you choose different policy deductibles. The first set of rates uses a $250 physical damage deductible and the second rate chart uses a $500 deductible.

Mercedes-Benz C350 insurance premium estimates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
C350 W 4-Dr Sedan $370 $672 $382 $22 $114 $1,585 $132
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Mercedes-Benz C350 insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
C350 W 4-Dr Sedan $300 $542 $382 $22 $114 $1,360 $113
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Table data does not factor in vehicle location which can alter coverage rates greatly.

Based on the data above, we can derive that using a $250 deductible will cost in the ballpark of $19 more each month or $228 every year than selecting the higher $500 deductible. Because you would be required to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you average at a minimum 13 months between claims, you would come out ahead by selecting a higher deductible.

How to determine if higher deductibles are a good idea

Average monthly premium for $250 deductibles: $132
Average monthly premium for $500 deductibles (subtract): - $113
Monthly savings from raising deductible: $19
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $19
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

One big caveat is that higher deductibles means you will have to pay more of your own money when you do file a claim. That will require enough disposable income in the event you have to pay the deductible to have repairs made.

The illustration below highlights how deductible choice and can affect Mercedes-Benz C350 insurance costs for each age group. The rate quotes are based on a married female driver, full coverage, and no discounts are applied.

Annual premiums comparing men and women

The chart below illustrates the comparison of Mercedes-Benz C350 car insurance rates for male and female drivers. The premiums assume no accidents, no driving violations, comp and collision included, $100 deductibles, marital status is single, and no discounts are applied.

Full coverage or liability only

The example below visualizes the comparison of Mercedes-Benz C350 premium costs with full coverage compared to only the Texas minimum liability coverage. Data assumes no claims or driving violations, $500 deductibles, single status, and no discounts are applied.

When to drop full coverage

There is no exact formula to stop buying full coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is more than around 10% of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.

For example, let's pretend your Mercedes-Benz C350 book value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $4,000 after the policy deductible has been paid. If you are paying over $400 a year to have full coverage, then it may be the right time to buy liability only.

There are some circumstances where eliminating full coverage is not a good idea. If you haven't satisfied your loan, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.

Mercedes-Benz C350 insurance discounts in Plano

Companies don't always publicize every possible discount in a way that's easy to find, so the next list breaks down some of the more common as well as some of the hidden credits available to lower your premiums when you buy Plano auto insurance online.Auto insurance discounts

  • Telematics Data - Insureds that choose to allow driving data submission to monitor driving patterns by installing a telematics device like Drivewise from Allstate or In-Drive from State Farm might see lower rates if their driving habits are good.
  • Good Grades Discount - Maintaining excellent grades could provide a savings of up to 20% or more. You can use this discount normally up to age 25.
  • Accident Forgiveness Coverage - Not really a discount, but companies like Allstate, State Farm and GEICO will forgive one accident without the usual rate increase with the catch being you have to be claim-free for a particular time prior to the accident.
  • Passive Restraints and Air Bags - Cars that have air bags and/or automatic seat belt systems may get savings as much as 30%.
  • Mature Driver Discount - Seniors can possibly qualify for a small decrease in premiums.

As a sidenote, many deductions do not apply to the overall cost of the policy. The majority will only reduce specific coverage prices like medical payments or collision. If you do the math and it seems like having all the discounts means you get insurance for free, insurance companies wouldn't stay in business.

The chart below compares Mercedes-Benz C350 insurance costs with and without discounts being applied to the rates. The premiums are based on a female driver, no accidents or driving violations, Texas state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, homeowner, multi-policy, marriage, and claim-free discounts applied.

Companies that may have most of the discounts above possibly include:

When getting a coverage quote, ask each company what discounts are available to you. Savings may not be available in your area.

Auto insurance is not optional

Despite the high cost, auto insurance is required for several reasons.

  • Most states have mandatory insurance requirements which means you are required to carry specific limits of liability insurance coverage if you drive a vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If you have a lien on your C350, it's guaranteed your bank will force you to have comprehensive coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the bank may buy a policy for your Mercedes-Benz at a more expensive rate and force you to reimburse them the higher premium.
  • Auto insurance protects not only your Mercedes-Benz but also your financial assets. It will also cover medical bills for you, your passengers, and anyone else injured in an accident. Liability insurance will also pay for a defense attorney if you cause an accident and are sued. If you have damage to your Mercedes-Benz as the result of the weather or an accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.

The benefits of buying auto insurance greatly outweigh the cost, specifically if you ever have a liability claim. But the average American driver overpays more than $825 a year so it's important to compare rates at every renewal to save money.

How to find a good Texas car insurance company

Ending up with the highest-rated insurance provider can be difficult considering how many companies sell insurance in Plano. The information in the lists below could help you analyze which coverage providers 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 Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. The General
  9. 21st Century
  10. Esurance

Do I need an insurance agent?

A lot of people prefer to buy from a local agent and there is nothing wrong with that. Agents are very good at helping people manage risk and help you file claims. The biggest benefit of comparing rate quotes online is the fact that you can find lower rates and still have an agent to talk to. Buying from local agencies is important particularly in Plano.

Once you complete this form (opens in new window), your insurance coverage information gets sent to participating agents in Plano that provide free Plano auto insurance quotes for your insurance coverage. It makes it easy because there is no need to leave your house due to the fact that quote results will go instantly to you. If you need to compare prices from a specific company, don't hesitate to visit that company's website to submit a rate quote request.

When narrowing the list to find a local Plano insurance agency, you need to know there are two different agency structures and how they work. Agents are considered either independent agents or exclusive agents depending on their employer. Either one can properly insure your vehicles, but it is important to understand how they are different since it could factor into buying decisions.

Independent Agents (or Brokers)

These agents are not limited to a single company and that allows them to write policies through lots of different companies and find you cheaper rates. If you want to switch companies, the agent simply finds a different carrier without you having to go to a different agency.

If you are comparing rate quotes, you absolutely need to contact multiple independent agents in order to have the best price comparison. Most have the option of insuring with small mutual carriers which can be an advantage.

Below is a small list of independent insurance agencies in Plano who may be able to give you cheap rate quotes.

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Exclusive Agents

Agents that elect to be exclusive can usually just insure with one company and some examples include American Family, State Farm, and AAA. They are unable to compare other company's rates so they really need to provide good service. Exclusive agencies receive a lot of sales training on what they offer which can be an advantage. Many people purchase coverage from exclusives mostly because of loyalty to the company and strong financial ratings.

The following are Plano exclusive insurance agencies willing to provide comparison quotes.

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Picking the best auto insurance agent should include more criteria than just the bottom line cost. A good agent in Plano will have answers to these questions.

  • How long have they been in business?
  • Do they offer rental car reimbursement?
  • Which insurance companies are they affiliated with?
  • Is the coverage adequate for your vehicle?
  • What is their Better Business Bureau rating?
  • How does the company pay claims for a total loss?