Save Money on Mercedes-Benz E350 Insurance in San Francisco

A recent NerdWallet.com study revealed that over 70% of consumers have stayed with the same insurance company for over three years, and 38% of drivers have never quoted rates to find lower-cost coverage. San Francisco drivers could save themselves up to 35% a year by just shopping around, but they don’t believe how much they could save if they changed companies.

If saving the most money is your goal, then the best way to get affordable Mercedes-Benz E350 insurance is to compare quotes once a year from insurers who provide auto insurance in San Francisco. Price quotes can be compared by following these steps.

Step 1: Get a basic knowledge of what coverages are included in your policy and the things you can change to keep rates down. Many rating criteria that increase rates such as traffic citations and a bad credit rating can be rectified by being financially responsible and driving safely.

Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give rate quotes from a single company like GEICO or State Farm, while independent agencies can give you price quotes from many different companies.

Step 3: Compare the new rate quotes to the price on your current policy to see if switching to a new carrier will save money. If you can save some money and change companies, make sure there is no lapse between the expiration of your current policy and the new one.

A key point to remember is that you use the same liability limits and deductibles on each quote and and to get price quotes from as many different companies as possible. Doing this helps ensure the most accurate price comparison and a better comparison of the market.

The companies in the list below provide free rate quotes in California. If the list has multiple companies, we recommend you click on several of them to get the most affordable price.

Mercedes-Benz E350 insurance rate analysis

The table shown below covers different insurance coverage prices for Mercedes-Benz E350 models. Having knowledge of how insurance policy rates are figured can help you make informed coverage decisions.

Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and California minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Premium amounts do not factor in vehicle garaging location which can raise or lower insurance rates substantially.

Can higher deductibles save money?

When buying auto insurance, a common question is how high or low should comp and collision deductibles be. The figures shown below may aid in understanding the rate difference when you buy lower versus higher comp and collision deductibles. The first set of rates uses a $100 comprehensive and collision deductible and the second rate chart uses a $500 deductible.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Premium amounts do not factor in vehicle garaging location which can affect auto insurance rates considerably.

Using the data above, we can ascertain that using a $100 deductible costs an average of $43 more each month or $516 a year than opting for the higher $500 deductible. Because you would pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you average at a minimum 9 months between claim filings, you would more than likely save some money if you choose the higher deductible. Below is the way you can do this calculation yourself.

The example below highlights how deductible choice and can increase or decrease Mercedes-Benz E350 annual premium costs for different age groups. The data assumes a married male driver, full physical damage coverage, and no discounts are applied to the premium.

Three reasons to insure your Mercedes-Benz E350

Despite the high insurance cost for a Mercedes-Benz E350 in San Francisco, auto insurance is required in California but it also protects you in many ways.

• Almost all states have minimum liability requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance in order to be legal. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
• If you took out a loan on your Mercedes-Benz E350, it’s guaranteed your bank will require you to have full coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Mercedes-Benz at a more expensive rate and require you to reimburse them for it.
• Insurance safeguards both your Mercedes-Benz E350 and your assets. It also can pay for medical expenses incurred in an accident. Liability insurance also pays expenses related to your legal defense in the event you are sued. If damage is caused by hail or an accident, your auto insurance policy will pay to have it repaired.

The benefits of carrying adequate insurance definitely exceed the cost, especially with large liability claims. The average driver in California overpays as much as $855 a year so it’s very important to do a rate comparison at every policy renewal to help ensure money is not being wasted.

How to Lower Your Insurance Prices

Many different elements are used when you quote your car insurance policy. Most are fairly basic such as your driving record, although some other factors are more obscure such as whether you are married and annual miles driven.

Shown below are some of the factors insurance companies consider when setting your prices.

Big cities have higher premiums – Choosing to live in smaller towns and rural areas of the country has definite advantages when buying insurance. Fewer people translates into fewer accidents and lower theft and vandalism rates. People who live in big cities tend to have more auto accidents and higher rates of accident claims. Higher commute times means more chances of being involved in an auto accident.

Obey driving laws and save – Even a single speeding ticket or other violation can increase rates by twenty percent. Drivers with clean records tend to pay less for car insurance compared to drivers with tickets. Drivers with careless violations such as reckless driving, hit and run or driving under the influence may find they need to file a proof of financial responsibility form (SR-22) with their state in order to continue driving.

The diagram below illustrates how violations and at-fault collisions can raise Mercedes-Benz E350 car insurance rates for different age groups. Data assumes a single male driver, full coverage, $100 deductibles, and no additional discounts are factored in.

Too many claims drive up insurance rates – Companies in California generally give most affordable rates to policyholders who do not rely on their insurance for small claims. If you tend to file frequent claims, you can definitely plan on much higher rates or policy non-renewal. Your car insurance is meant to be used in the event of more catastrophic claims.

Poor credit can mean higher costs – Having a bad credit rating factor in determining your rates. If your credit score can be improved, you could be paying less to insure your Mercedes-Benz E350 if you clean up your credit. People that have very high credit ratings tend to be less risk to insure as compared to drivers with lower credit ratings.

Males tend to take more risk – Over the last 50 years, statistics have shown that females tend to be a little less risky than males. This data doesn’t prove that men are WORSE drivers than women. Men and women get in auto accidents at about the same rate, but the males have costlier accidents. Not only are claims higher, but men get more serious tickets like reckless driving and DUI.

The example below shows the difference between Mercedes-Benz E350 insurance premiums for male and female drivers. The rate quotes are based on no tickets, no at-fault accidents, full coverage, $250 deductibles, single status, and no discounts are factored in.

Reduce rates by driving vehicles with better crash test results – Vehicles with high crash test scores tend to have better insurance rates. Vehicles engineered for safety result in less severe injuries and lower injury rates translates into savings for insurance companies and more competitive rates for policyholders. If the Mercedes-Benz E350 is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org it may be receiving lower rates.

Certain vocations raise rates – Did you know your insurance rates can be affected by your occupation? Careers like lawyers, executives, and miners tend to pay higher premium rates attributed to job stress and lots of time spent away from family. On the flip side, jobs like scientists, historians and homemakers have the lowest average rates.

Your situation helps dictate your coverage

When quoting and choosing coverage, there really isn’t a one size fits all plan. Everyone’s situation is a little different.

Here are some questions about coverages that may help highlight whether or not you could use an agent’s help.

• When can my company non-renew my policy?
• Can I still get insurance after a DUI?
• Do I have coverage if my license is suspended?
• Am I covered when driving someone else’s vehicle?
• When do I need to add a new car to my policy?
• When should I remove my kid from my policy?
• Does my medical payments coverage pay my health insurance deductible?
• Do I need special coverage while pulling a rented trailer?
• Do I have coverage for damage caused while driving under the influence?
• Can my teen drive my company car?

If you can’t answer these questions then you might want to talk to a licensed insurance agent. If you don’t have a local agent, simply complete this short form. It’s fast, free and may give you better protection.

One last note

Lower-priced Mercedes-Benz E350 insurance in San Francisco can be found from both online companies and also from your neighborhood San Francisco agents, so you should be comparing quotes from both to have the best chance of lowering rates. A few companies may not have the ability to get a quote online and these regional insurance providers provide coverage only through independent insurance agencies.

While you’re price shopping online, it’s very important that you do not sacrifice coverage to reduce premiums. There are many occasions where drivers have reduced uninsured motorist or liability limits only to regret at claim time they didn’t purchase enough coverage. The proper strategy is to buy a smart amount of coverage at the best cost and still be able to protect your assets.

We just showed you quite a bit of information on how to find affordable Mercedes-Benz E350 insurance in San Francisco. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may even find the lowest car insurance rates are with an unexpected company.

Much more information about insurance in California can be read on the following sites:

• Steps to Take After an Auto Accident (Insurance Information Institute)
• Who Has Affordable San Francisco Auto Insurance for 18 Year Olds? (FAQ)
• What Insurance is Cheapest for Drivers Requiring a SR22 in San Francisco? (FAQ)
• Automakers compete to add autobraking (Insurance Institute for Highway Safety)
• Understanding Car Crashes Video (iihs.org)
• New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)