How Much Does 2002 Mercedes-Benz SLK-Class Insurance Cost?

Searching for lower car insurance rates for your Mercedes-Benz SLK-Class? Feel like you have high-priced car insurance? You’re preaching to the choir because many consumers are in the same pinch. Due to the fact that there are so many options, it can be diffult for drivers to find the most cost effective company.

It’s a great practice to check car insurance prices on a regular basis due to the fact that insurance rates are usually higher with each renewal. Even if you got the lowest premium rates on SLK-Class insurance two years ago a different company probably has better prices today. There is a lot of wrong information about car insurance on the internet, but in this article, you’re going to get some of the best techniques to lower your car insurance premiums.

How to lower your insurance cost

There are a variety of methods you can shop for insurance and some are easier and takes less work. You can spend your afternoon driving to insurance companies in your area, or you could use the web to get prices fast.

All the larger companies enroll in a system where prospective buyers only type in their quote data once, and every company provides a quote determined by their information. This eliminates the need for quote forms for each company you want a rate for.

To compare rates now click here (opens in new window).

The one downside to using this type of system is that you can’t choose which insurance companies you want to price. So if you want to select from a list of companies for rate comparison, we have a listing of the cheapest insurance companies in your area. Click to view list.

Take whichever approach you prefer, but be sure you’re using exactly the same coverages and limits with each company. If you are comparing different data you will not be able to get a fair rate comparison.

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Discounts for cheaper insurance coverage rates

Insurance coverage is easily one of your largest bills, but discounts can save money and there are some available that could drop your premiums quite a bit. Certain credits will be shown at the time of purchase, but a few must be asked about prior to getting the savings.

• E-sign – Some insurance companies will give a small break for buying your policy on the internet.
• Life Insurance Discount – Not all insurance coverage companies offer life insurance, but some may give you a break if you buy a life insurance policy as well.
• Telematics Discount – Policyholders that allow their insurance company to study driving manner by using a telematics device such as Snapshot from Progressive or Drivewise from Allstate could see a rate decrease as long as they are good drivers.
• New Vehicle Savings – Insuring a vehicle that is new is cheaper since new model year vehicles have better safety ratings.
• Braking Control Discount – Cars with ABS and/or traction control prevent accidents and earn discounts up to 10%.
• College Student – College-age children who live away from home at college and won’t have access to an insured vehicle could qualify for this discount.
• Lower Rates for Military – Having an actively deployed family member can result in better prices.
• Multiple Vehicles – Having all your vehicles with the same insurance coverage company can get a discount for every vehicle.

Keep in mind that some of the credits will not apply to all coverage premiums. Most only cut the price of certain insurance coverages like comp or med pay. Even though it appears all those discounts means the company will pay you, nobody gets a free ride.

Large insurance coverage companies and their offered discounts can be read below.

• Geico offers premium reductions for driver training, seat belt use, federal employee, emergency military deployment, membership and employees, daytime running lights, and anti-theft.
• MetLife offers discounts for multi-policy, good student, defensive driver, accident-free, and claim-free.
• Progressive discounts include multi-vehicle, homeowner, good student, online signing, and online quote discount.
• Travelers includes discounts for multi-policy, early quote, hybrid/electric vehicle, save driver, and multi-car.
• SAFECO has savings for bundle discounts, teen safe driver, anti-lock brakes, teen safety rewards, and multi-car.
• AAA may offer discounts for education and occupation, good student, AAA membership discount, multi-car, good driver, multi-policy, and anti-theft.

Before you buy a policy, ask each company or agent which credits you are entitled to. All car insurance discounts may not be available in every state. If you would like to choose from a list of companies that offer some of these discounts, click here.

Tailor your insurance coverage coverage to you

When it comes to buying coverage for your personal vehicles, there isn’t really a cookie cutter policy. Every situation is different so your insurance needs to address that. For example, these questions may help highlight if your situation could use an agent’s help.

• When can my company non-renew my policy?
• How do I buy GAP insurance?
• Do I need rental car coverage?
• I have health insurance so do I need medical payments coverage?
• Is my vehicle covered by my employer’s policy when using it for work?
• Is my Mercedes-Benz SLK-Class covered if I use it for business?
• When would I need additional glass coverage?
• Does my insurance cover my expensive audio equipment?
• Can I afford to buy a different vehicle if my 2002 Mercedes-Benz SLK-Class is totaled?
• What companies insure drivers after a DUI or DWI?

If it’s difficult to answer those questions but one or more may apply to you, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, simply complete this short form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and can help protect your family.

Eight factors that determine insurance prices

Smart consumers have a good feel for a few of the rating criteria that help calculate your insurance coverage rates. If you have a feel for what positively or negatively impacts your premiums, this allows you to make educated decisions that could result in much lower annual insurance costs. Lots of things are part of the equation when pricing auto insurance. A few of the factors are predictable such as your driving record, but some are more transparent like your continuous coverage or your commute time.

• Raising comp and collision deductibles saves money – Comprehensive and collision coverage deductibles state the amount of money you are required to spend out-of-pocket before a claim is paid by your company. Physical damage protection, also called comprehensive and collision insurance, insures against damage to your car. Examples of covered claims could be rearending another vehicle, damage from fire, or theft of your vehicle. The higher the amount you choose to pay out-of-pocket, the less money you will pay for insurance coverage on SLK-Class insurance.
• Liability protection is cheap – Your insurance coverage policy’s liability coverage will afford coverage if ever a jury decides you are liable for physical damage or personal injury to other. Liability insurance provides legal defense to attempt to prove you were not liable. This coverage is very inexpensive when compared to the cost of physical damage coverage, so drivers should buy more than the minimum limits required by law.
• Frequent claims will cost you more – If you file claims often, don’t be surprised to see higher rates. Car insurance companies generally give lower rates to people who are not frequent claim filers. Your car insurance is designed for the bigger claims that can’t be paid out-of-pocket.
• Gender is a factor – Over time, data shows that women are safer drivers than men. This data doesn’t prove that males are worse at driving than females. Both sexes are responsible for auto accidents at about the same rate, but men get into accidents with more damage. Not only are claims higher, but men get more serious tickets such as reckless driving. Males from age 16 to 21 are the most expensive to insure and thus pay the highest rates.
• Rates can change based on your address – Having an address in a small town can be a good thing when shopping for auto insurance. Fewer people means fewer accidents in addition to fewer liability claims. Drivers in populated areas have to deal with much more traffic and much longer commute distances. The longer drive time statistically corresponds to a higher accident and claim rate.
• Drive less and save – The higher the miles on your Mercedes-Benz in a year’s time the higher your rate. Many insurance companies apply a rate determined by how the vehicle is used. Cars used primarily for pleasure use receive better premium rates than those used for commuting. An incorrectly rated SLK-Class may be wasting your money. It’s a smart idea to ensure your insurance coverage policy shows the correct usage for each vehicle, because improper ratings can cost you money.
• How’s your driving record? – Drivers who don’t get tickets tend to pay less for car insurance as compared to careless drivers. Only having one speeding ticket or other violation can bump up the cost by as much as thirty percent. People who have careless violations such as DUI or reckless driving may find that they have to to submit a SR-22 form with their state’s licensing department in order to legally drive a vehicle.
• GPS tracking and theft deterrents reduce rates – Choosing to buy a car that has an advanced theft prevention system can get you a discount on your insurance coverage. Anti-theft devices such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems help track and prevent auto theft and help lower rates.

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Car insurance coverages for a Mercedes-Benz SLK-Class

Knowing the specifics of a insurance policy can help you determine the right coverages and proper limits and deductibles. Policy terminology can be impossible to understand and coverage can change by endorsement. These are the usual coverages found on most insurance policies.

Coverage for medical payments – Med pay and PIP coverage provide coverage for immediate expenses like nursing services, dental work, prosthetic devices and pain medications. The coverages can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Collision coverage – Collision insurance covers damage to your SLK-Class from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims such as damaging your car on a curb, sideswiping another vehicle, hitting a parking meter, rolling your car and crashing into a ditch. This coverage can be expensive, so you might think about dropping it from vehicles that are older. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

Auto liability – Liability coverage will cover damage or injury you incur to other’s property or people that is your fault. It protects YOU against claims from other people, and does not provide coverage for your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 100/300/100 that translate to $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Occasionally you may see a combined limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage protects against things such as emergency aid, attorney fees, pain and suffering, court costs and legal defense fees. How much liability should you purchase? That is your choice, but you should buy as much as you can afford.

Comprehensive coverages – This pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things such as rock chips in glass, hail damage, damage from a tornado or hurricane, fire damage and a tree branch falling on your vehicle. The most a insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Uninsured and underinsured coverage – This protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries and also any damage incurred to your Mercedes-Benz SLK-Class.

Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea. Usually these limits are set the same as your liablity limits.

Final considerations

Budget-conscious 2002 Mercedes-Benz SLK-Class insurance can be found from both online companies and from local agencies, so you need to shop auto insurance with both to have the best chance of lowering rates. Some insurance providers do not offer online price quotes and most of the time these small insurance companies sell through independent agents.

We covered many ways to reduce 2002 Mercedes-Benz SLK-Class insurance car insurance rates online. The key thing to remember is the more you quote auto insurance, the better your chances of lowering your premium rates. You may even find the best price on insurance is with a small mutual company. These smaller insurers may only write in your state and offer lower premium rates compared to the large companies like Allstate and Progressive.

For more information, take a look at these articles:

• Distracted Driving (Insurance Information Insitute)
• Uninsured Motorists: Threats on the Road (Insurance Information Insitute)
• Can I Drive Legally without Insurance? (Insurance Information Insitute)
• Speed and Speed Limit FAQ (iihs.org)

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