Typically, auto insurance for high-end vehicles like Mercedes and BMW cost much more because of the costs (parts and labor) associated with repairing and replacing luxury vehicles.
For example, one might assume that the cost to replace a radiator on a Mercedes shouldn’t be any higher than the cost for a radiator on a Buick, right? Let’s take a quick look:
The replacement cost of a radiator for a 2018 Buick Enclave: $182.79 (part only) – Labor Cost $44 per hour
The replacement cost of a radiator for a 2018 Mercedes C300: $267.79 (part only) – Labor Cost $64 per hour.
So if a normal car part that is damaged in a car crash is so much more for a Mercedes than a Buick, it makes sense that the insurance to pay for the repair or replacement will be much higher.
If a vehicle is expensive to repair, the insurance premium will reflect it. If a vehicle is expensive to replace, the insurance premium will reflect that.
Other factors that come in to play are the model of your Mercedes, the state you live in, its replacement value and safety features.
Do Some Mercedes Cost more to Insure than Others?
Yes, some Mercedes cost more to insure than others because of various factors that include replacement cost, safety features, horsepower, vehicle style, and historical cost of claim payments. Here are the different models and sub-models available in 2019:
Along with the 15 models listed above, there are sub-models based on the trim package, number of doors, and other amenities that can be selected.
Certainly, this article would turn into a “book report” if we priced insurance on every model and sub-model and then looked at every state. But we can, however, look at the best cost of auto insurance for Mercedes taking an average across the country.
|MODEL||MSRP||AVERAGE 6 MTH INSURANCE COST|
All insurance prices for the models listed above were provided by ValuePenguin.
What Factors will Impact My Cost of Insurance?
Certainly, we know the driver profile can have a substantial impact on your insurance rates and this is true for any vehicle you want to purchase insurance for. Most insurance companies will want to know the following about each driver who will be listed on the policy:
- Age of the driver
- Gender of the driver
- Years of driving experience
- Marital status
- Insurance claims history
- 3 to 5-year driving record
- Insurance credit score
- % of vehicle usage
- Driving purpose (commute, pleasure, business use, etc)
Other factors that can impact your insurance rates (positive and negative)
- Safety features and ratings. Typically, Mercedes Benz will have every safety feature imaginable available on almost every model. Safety features will reduce the injuries resulting from an accident and typically will influence the insurance rates on your policy.
- Replacement Value of the Mercedes Benz model you purchase. Insurance companies collect data that indicates how much it will cost to repair or replace a vehicle after an accident. This means that an S Class will cost more to insure than an A Class because the cost to repair or replace is going to be much higher for the insurance company thus increasing your comprehensive and collision premiums.
- How Your Vehicle is Garaged – Insurance companies know which vehicles and models are targeted for theft. How and where you park your car can have an impact on your rates. For example, if you live in a gated community and lock your car in the garage at night, you’ll likely pay a less comprehensive premium that if you lived in a non-gated apartment building and your vehicle was parked in an open lot.
- Bundling – Most insurance companies that offer multiple lines of insurance are willing to offer significant discounts to customers who purchase several types of insurance policies. For example, if you have your auto, home, and life insurance with one insurance company, the insurer knows that you are less likely to shop your policies at renewal and can rely on your loyalty to the company.
How to Get the Best Auto Insurance for Mercedes?
Although most Mercedes owners seem to be less concerned about rates and more concerned about coverage and service, shopping for the best insurance rate has never been easier. You really have three great choices for getting the lowest rate possible:
- Get rates from a captive agent like State Farm, Allstate, or Farmers.
- Get rates from an independent agent who represents multiple insurance companies and more options for coverage.
- Get rates from both.
In our opinion, when you shop for insurance with a captive agent like State Farm, your choices are very limited. Yes, they may have the best rates at the time of purchase, but what happens when your 18-year-old daughter has a fender bender? Your next renewal will typically increase because of the claim and so you either pay it or go shopping. Additionally, what do you do if your insurance company takes a price increase in your area because of loss experience? Do you stay or do you go?
If however, you elected to purchase insurance from an independent agent who represents multiple auto insurance carriers, rate and increases can typically be overcome by placing your business with another company they represent. In this case, the agent’s loyalty is to the customer and not the company.