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

If you’ve never shopped for auto insurance quotes online, it’s easy to get overwhelmed thanks to the incredible selection of insurers that all promise the best rates.

It’s a great practice to take a look at other company’s rates occasionally because prices trend upward over time. Even if you got the best quotes for SLR McLaren coverage a year ago you can probably find a lower rate today. Block out anything you think you know about insurance coverage because you’re going to get a crash course in the fastest way to save money, get proper coverage and the best rates.

Find discounts on car insurance

Insuring your vehicles can cost a lot, but you might be missing out on some discounts that may help make it more affordable. Certain discounts will be triggered automatically at the time of quoting, but some must be asked for before they will apply.

  • Discount for Good Grades – Maintaining excellent grades can save 20 to 25%. You can use this discount normally up to age 25.
  • Driver Safety – Taking time to complete a driver safety course could cut 5% off your bill and easily recoup the cost of the course.
  • Accident Forgiveness Coverage – Not necessarily a discount, but some insurance companies will let one accident slide before raising your premiums so long as you are claim-free for a set time period.
  • Multiple Cars – Buying a policy with multiple cars on a single policy can get a discount on all vehicles.
  • Discount for New Cars – Putting insurance on a new car may earn a small discount because newer vehicles are generally safer.
  • Theft Prevention System – Cars and trucks with anti-theft systems help deter theft and earn discounts up to 10% off your auto insurance quote.
  • Seat Belts Save – Drivers who always wear seat belts and also require passengers to wear their seat belts can save up to 10 percent (depending on the company) off the personal injury premium cost.
  • Discount for Life Insurance – Larger car insurance companies have better prices if you take out a life policy as well.

Please keep in mind that some of the credits will not apply the the whole policy. Some only apply to the cost of specific coverages such as medical payments or collision. Even though it may seem like adding up those discounts means a free policy, you’re out of luck.

A list of car insurance companies and a summarized list of policyholder discounts can be found below.

  • State Farm discounts include Drive Safe & Save, defensive driving training, safe vehicle, multiple policy, passive restraint, and good driver.
  • Farmers Insurance may offer discounts for youthful driver, distant student, business and professional, bundle discounts, electronic funds transfer, homeowner, and pay in full.
  • Progressive offers discounts for multi-policy, online quote discount, continuous coverage, online signing, and multi-vehicle.
  • Geico may include discounts for membership and employees, anti-theft, multi-policy, emergency military deployment, federal employee, and air bags.
  • Auto-Owners Insurance has savings for teen driver, paid in full, good student, safe vehicle, and multiple vehicles.
  • The Hartford includes discounts for anti-theft, vehicle fuel type, bundle, good student, defensive driver, and air bag.
  • Farm Bureau policyholders can earn discounts including 55 and retired, driver training, multi-policy, renewal discount, and multi-vehicle.
  • USAA may have discounts that include defensive driver, annual mileage, family discount, loyalty savings, multi-vehicle, vehicle storage, and new vehicle.

Before you buy a policy, ask all the companies to give you their best rates. Some discounts might not be offered on policies in your area. To see insurers that offer some of these discounts, click here to view.

The quickest method we recommend to compare car insurance company rates is to understand auto insurance companies will pay a fee to compare their rates. The only thing you need to do is give them some information like what you do for a living, whether the vehicles are used for commuting, if the vehicle is leased, and the ages of drivers. That rating information is then submitted to many of the top insurers and they return cost estimate very quickly.

To compare rates now, click here and enter your zip code.

Mercedes-Benz SLR McLaren insurance cost factors

Many factors are used when you get a price on insurance. Some are pretty understandable such as your driving history, but other criteria are less obvious such as your marital status or your financial responsibility.

The itemized list below are some of the items that factor into your prices.

  • Your job can affect rates – Did you know that where you work can have an impact on rates? Occupational choices like military personnel, architects and stock brokers generally have higher rates than average attributed to stressful work requirements and extremely grueling work hours. Other jobs like scientists, engineers and performers get better rates for SLR McLaren coverage.
  • More traffic means higher claims – Being located in less populated areas may provide you with better prices when buying insurance. Fewer drivers and short commutes means a lower chance of having an accident and also fewer theft and vandalism claims. People who live in big cities have to deal with much more traffic and more time behind the wheel. Higher commute times statistically corresponds to a higher accident and claim rate.
  • Vehicle options that lower prices – Buying a car that has a built-in theft deterrent system can help lower your premiums. Theft prevention devices like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can help prevent your vehicle from being stolen.
  • How much liability coverage – The liability coverage on your policy is the coverage that protects you if ever a jury decides you are liable for causing personal injury or damage in an accident. Liability provides you with a defense in court starting from day one. Liability insurance is quite affordable compared to physical damage coverage, so buy as much as you can afford.
  • Improve your credit history – Having a bad credit score is a big factor in determining what you pay. Drivers with high credit scores tend to be less risk to insure as compared to drivers with worse credit. So if your credit history can be improved, you may save money insuring your 2006 Mercedes-Benz SLR McLaren by improving your rating.
  • Lower insurance rates for being claim-free – If you frequently file small claims, don’t be surprised to see much higher rates or policy non-renewal. Car insurance companies award most affordable rates to drivers who do not rely on their insurance for small claims. Your insurance policy is designed for major claims that would cause financial hardship.

Tailor your auto insurance coverage to you

When it comes to buying coverage, there is no cookie cutter policy. Coverage needs to be tailored to your specific needs.

For instance, these questions can aid in determining whether or not you would benefit from professional advice.

  • Are my friends covered when driving my car?
  • How does medical payments coverage work?
  • Is motorclub coverage worth it?
  • Can I still get insurance after a DUI?
  • Which companies will insure high-risk drivers?
  • Will I lose any money if I cancel my policy before it expires?
  • What vehicles should carry emergency assistance coverage?
  • What exactly is covered by my policy?
  • Is my state a no-fault state?

If you can’t answer these questions then you might want to talk to an agent. To find lower rates from a local agent, fill out this quick form.

Specific coverage details

Understanding the coverages of a auto insurance policy can help you determine which coverages you need for your vehicles. Policy terminology can be confusing and nobody wants to actually read their policy.

Collision coverage – This coverage pays to fix your vehicle from damage resulting from colliding with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things such as sustaining damage from a pot hole, rolling your car and scraping a guard rail. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to get cheaper collision coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This coverage gives you protection from other motorists when they are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and also any damage incurred to your 2006 Mercedes-Benz SLR McLaren.

Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage is a good idea. Most of the time the UM/UIM limits are identical to your policy’s liability coverage.

Comprehensive auto coverage – This coverage covers damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things like fire damage, theft and hitting a bird. The maximum amount your auto insurance company will pay 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.

Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance pay for short-term medical expenses for hospital visits, prosthetic devices and surgery. They are used to fill the gap from your health insurance program or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is not available in all states and may carry a deductible

Coverage for liability – This coverage can cover damages or injuries you inflict on other people or property by causing an accident. It protects YOU from legal claims by others, and does not provide coverage for your injuries or vehicle damage.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 100/300/100 which stand for a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery. Alternatively, you may have a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage protects against claims such as loss of income, repair bills for other people’s vehicles and court costs. How much liability should you purchase? That is a decision to put some thought into, but consider buying as much as you can afford.

Shop around and save

Budget-friendly insurance coverage can be purchased both online in addition to many insurance agents, so get free auto insurance quotes from both of them to have the best selection. There are still a few companies who do not offer the ability to get quotes online and most of the time these smaller providers only sell through local independent agencies.

Drivers switch companies for many reasons like extreme rates for teen drivers, not issuing a premium refund, an unsatisfactory settlement offer or even high prices. Regardless of your reason for switching companies, choosing a new company is not as difficult as it may seem.

When you buy auto insurance online, it’s a bad idea to reduce coverage to reduce premium. In many instances, consumers will sacrifice liability limits or collision coverage only to regret at claim time they didn’t have enough coverage. Your focus should be to buy enough coverage at the best possible price while still protecting your assets.

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