How Much Does 2006 Mercedes-Benz SLR McLaren Car Insurance Cost?

If online insurance comparisons are new to you, there’s a good chance you are baffled by the vast number insurance agents and companies that all promise the best rates.

It’s a good habit to take a look at other company’s rates once or twice a year because insurance prices are rarely the same from one policy term to another. Just because you had the lowest price for SLR McLaren insurance at your last renewal there is a good chance you can find better rate quotes now. There is lot of inaccurate information about insurance out there, but you can learn some excellent ideas to lower your insurance premiums.

How to get affordable car insurance

There are a variety of methods to compare car insurance prices but one way is more efficient than others. You could waste a few hours discussing policy coverages with insurance agencies in your area, or you could use online quoting for quick rates.

Most of the larger companies participate in a marketplace where prospective buyers only type in their quote data once, and at least one company can provide price quotes based on the submitted data. This prevents consumers from doing quotation requests to each company.

To access this free quoting program, click here (opens in new window).

The single downside to doing it this way is you are unable to specify which companies to get quotes from. If you would rather choose from a list of companies to receive pricing from, we have a listing of low cost car insurance companies in your area. Click to view list.

Whichever way you use, be sure you’re using nearly identical coverages and limits on every price quote you get. If you have differing limits you will not be able to make a fair rate comparison. Even a minor difference in insurance coverages or limits can mean a large discrepancy in price. And when comparing car insurance rates, know that more quotes helps you find the best price.

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Cheap insurance coverage quotes with discounts

The price of auto insurance can be rather high, but you might find some hidden discounts that could drop your premiums quite a bit. Most are applied when you get a quote, but lesser-known reductions have to be specifically requested before you get the savings. If you check and find you aren’t receiving every discount available, you are just wasting money.

• Government Employee Discount – Having worked for a branch of the government could qualify for a slight premium decrease for SLR McLaren insurance with a few insurance coverage companies.
• Anti-lock Brake Discount – Cars and trucks with ABS braking systems or traction control are safer to drive and therefore earn up to a 10% discount.
• Passive Restraint Discount – Vehicles with factory air bags or motorized seat belts can receive discounts of 25 to 30%.
• Student in College – Older children living away from home attending college and leave their car at home may qualify for this discount.
• Anti-theft System – Vehicles equipped with anti-theft or alarm systems can help prevent theft and earn discounts up to 10% off your auto insurance quote.

Drivers should understand that most of the big mark downs will not be given to the entire cost. Some only reduce the cost of specific coverages such as liability, collision or medical payments. Even though the math looks like all those discounts means the company will pay you, it just doesn’t work that way. But all discounts will definitely lower the premium cost.

Some of the larger companies that may offer policyholders these benefits possibly include:

• Farmers Insurance
• State Farm
• Liberty Mutual
• MetLife
• Progressive

When getting a coverage quote, ask all companies you are considering which discounts they offer. Some of the earlier mentioned discounts might not be offered on policies in your area.

What impacts Mercedes-Benz SLR McLaren insurance premiums?

Lots of factors are used in the calculation when you get your auto insurance bill. Some of the criteria are obvious such as your driving history, but others are more obscure such as your marital status or how safe your car is.One of the most helpful ways to save on insurance is to to have a grasp of the different types of things that play a part in calculating your insurance rates. If you know what positively or negatively impacts your premiums, this allows you to make educated decisions that will entitle you to lower premium levels.

• Higher rates for policy lapses – Letting your insurance expire can be a sure-fire way to increase your rates. Not only will you pay more, failure to provide proof of insurance can result in fines or a revoked license.
• Rural areas have lower premiums – Being located in a small town is a positive aspect when shopping for auto insurance. Less people living in that area translates into fewer accident claims in addition to lower liability claims City drivers have to deal with traffic congestion and higher rates of accident claims. More time behind the wheel means a statistically higher chance of an accident.
• Does car insurance cost more for males? – Over the last 30 years, statistics show women tend to be less risk to insure than men. However, don’t assume that females are better at driving than males. Men and women tend to get into at-fault accidents in similar numbers, but men cause more damage and cost insurance companies more money. Men also get ticketed for serious violations such as reckless driving.
• Save money by eliminating add-on coverages – Insurance companies have many extra bells and whistles you can purchase but may not be useful. Things like coverage for rental cars, death and dismemberment, and extra life insurance coverage may not be needed and are just wasting money. You may think they are a good idea when you first buy your policy, but if you’ve never needed them in the past think about removing them and cutting costs.
• Lower rates with GPS tracking and theft deterrents – Owning a car with advanced anti-theft systems can earn a premium discount. Systems that thwart theives such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems help track and prevent car theft.
• Annual mileage and car insurance rates – The more you drive your Mercedes-Benz in a year’s time the more it will cost to insure it. A lot of companies calculate rates partially by how you use the vehicle. Cars and trucks used primarily for pleasure use can be on a lower rate level than those that get driven frequently. Having an incorrect usage rating on your SLR McLaren may be wasting your money. It’s always a good idea to double check that your vehicle rating is rated on the correct driver usage.
• Cheaper rates after marriage – Having a spouse can actually save you money on your insurance bill. Having a significant other demonstrates that you tend to be more mature and it’s proven that married drivers get in fewer accidents.
• Pay more of a claim out-of-pocket – Protection for physical damage, termed comprehensive and collision coverage on your policy, covers damage that occurs to your Mercedes-Benz. Some coverage claims are a broken windshield, vandalism, and having your car stolen. Comprehensive and collision coverage deductibles tell how much you are required to spend before your insurance pays a claim. The more of the claim you are required to pay out-of-pocket, the less your company will charge you for insurance for SLR McLaren insurance.

Tailor your insurance coverage to you

When choosing the best insurance coverage, there really is not a best way to insure your cars. Everyone’s situation is a little different.

For instance, these questions may help you determine if you may require specific advice.

• How much liability do I need to cover my assets?
• Are all vehicle passengers covered by medical payments coverage?
• Should I have combined single limit or split liability limits?
• How can I find cheaper teen driver insurance?
• When should I not file a claim?
• Is rental equipment covered for theft or damage?

If you’re not sure about those questions, you might consider talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form.

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Insurance coverages and their meanings

Understanding the coverages of insurance can be of help when determining the best coverages and the correct deductibles and limits. Policy terminology can be ambiguous and coverage can change by endorsement.

Liability

Liability coverage can cover damage that occurs to people or other property by causing an accident. This insurance protects YOU against other people’s claims, and does not provide coverage for damage to your own property or vehicle.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 100/300/100 that means you have a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.

Liability can pay for things like repair bills for other people’s vehicles, bail bonds, legal defense fees, attorney fees and pain and suffering. How much coverage you buy is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Coverage for medical payments

Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses for things like chiropractic care, doctor visits and funeral costs. They are often used in conjunction with a health insurance program or if you do not have health coverage. Coverage applies to all vehicle occupants and will also cover being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Auto collision coverage

This covers damage to your SLR McLaren caused by collision with another car or object. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like colliding with a tree, colliding with another moving vehicle and backing into a parked car. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. It’s also possible to raise the deductible to get cheaper collision coverage.

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” do not carry enough liability coverage. Covered losses include hospital bills for your injuries and damage to your Mercedes-Benz SLR McLaren.

Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.

Comprehensive coverages

This pays for damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like damage from flooding, damage from getting keyed and hitting a bird. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Save your hard earned cash

People who switch companies do it for a number of reasons such as high prices, being labeled a high risk driver, lack of trust in their agent or extreme rates for teen drivers. Whatever your reason, finding a new insurance coverage company is pretty simple and you could end up saving a buck or two.

You just read many ideas to compare 2006 Mercedes-Benz SLR McLaren insurance rates online. The key thing to remember is the more companies you get car insurance rates for, the better your chances of lowering your car insurance rates. Drivers may discover the lowest rates are with a small mutual company.

When shopping online for insurance coverage, make sure you don’t reduce coverage to reduce premium. There are too many instances where an insured dropped physical damage coverage only to regret that saving that couple of dollars actually costed them tens of thousands. The goal is to get the best coverage possible at an affordable rate and still be able to protect your assets.

Additional information can be read on the following sites:

• Driving in Bad Weather (Insurance Information Insitute)
• Electronic Stability Control FAQ (iihs.org)
• Vehicle Size and Weight FAQ (iihs.org)
• Bodily Injury Coverage (Liberty Mutual)

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