Are you kicking yourself for buying an overpriced insurance policy? Don’t sweat it because you’re not alone.
Shocking but true, a large majority of insurance policyholders in Minnesota have purchased from the same company for more than four years, and almost 40% of drivers have never shopped around. Consumers in the U.S. can cut their rates by $859 a year, but they feel it’s too difficult to go online and compare rates.
Steps to finding low-cost rates for Mercedes-Benz E350 insurance in Minneapolis
The easiest way to get affordable Mercedes-Benz E350 insurance in Minneapolis is to compare prices regularly from different companies in Minnesota. Rate comparisons can be done by following these steps.
First, get an understanding of policy coverages and the measures you can control to prevent high rates. Many things that result in higher prices such as traffic citations and a bad credit score can be improved by making minor driving habit or lifestyle changes.
Second, compare price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from a single company like Progressive or Allstate, while independent agents can give you price quotes for a wide range of insurance providers.
Third, compare the quotes to your existing coverage to determine if you can save on E350 insurance. If you find a better price and switch companies, make sure coverage does not lapse between policies.
An important bit of advice to remember is that you’ll want to compare similar limits and deductibles on each price quote and and to compare as many auto insurance providers as possible. Doing this helps ensure a level playing field and plenty of rates choose from.
Numerous car insurance companies battle to insure your vehicles, so it’s not easy to compare every insurance company and uncover the absolute cheapest price on Mercedes-Benz E350 insurance in Minneapolis.
If you have a policy now, you will definitely be able to shop for the lowest rates using the ideas presented in this article. Finding affordable car insurance coverage in Minneapolis is actually quite simple. Nevertheless, Minnesota drivers must understand how the larger insurance companies charge you for coverage and apply this information to your search.
Cheapest companies for Mercedes-Benz E350 insurance in Minnesota
The following companies have been selected to offer price comparisons in Minneapolis, MN. In order to find the best auto insurance in Minnesota, we suggest you visit several of them to find the cheapest car insurance rates.
Mercedes-Benz E350 insurance statistics and information
The coverage table shown below highlights a range of insurance policy prices for Mercedes-Benz E350 models. Being aware of how insurance policy rates are established can be useful when making decisions on the best policy coverages.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| E350 2-Dr Coupe | $148 | $378 | $258 | $16 | $78 | $878 | $73 |
| E350 4-Dr Sedan | $164 | $338 | $200 | $12 | $60 | $774 | $65 |
| E350 with 4-MATIC 4-Dr Sedan | $164 | $338 | $200 | $12 | $60 | $774 | $65 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Prices do not factor in specific location which can change coverage rates noticeably.
Choosing deductibles
One common question asked by Minneapolis drivers is how low should you set your deductibles. The figures shown below highlight how much more you’ll pay when you choose different physical damage deductibles. The first rate table uses a $250 deductible and the second rate chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| E350 2-Dr Coupe | $308 | $708 | $270 | $16 | $80 | $1,407 | $117 |
| E350 4-Dr Sedan | $340 | $634 | $210 | $12 | $62 | $1,283 | $107 |
| E350 with 4-MATIC 4-Dr Sedan | $340 | $634 | $210 | $12 | $62 | $1,283 | $107 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| E350 2-Dr Coupe | $250 | $570 | $270 | $16 | $80 | $1,186 | $99 |
| E350 4-Dr Sedan | $276 | $512 | $210 | $12 | $62 | $1,072 | $89 |
| E350 with 4-MATIC 4-Dr Sedan | $276 | $512 | $210 | $12 | $62 | $1,072 | $89 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Price estimates do not factor in specific location which can increase or decrease premium rates greatly.
Based on the figures above, using a $250 deductible costs about $18 more each month or $216 each year averaged for all E350 models than selecting the higher $500 deductible. Due to the fact that you would have to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you have more than 14 months between claim filings, you would probably come out ahead if you choose the higher deductible.
Calculate savings of higher deductibles
| Average monthly premium for $250 deductibles: | $110 |
| Average monthly premium for $500 deductibles (subtract): | – $92 |
| Monthly savings from raising deductible: | $18 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $18 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 14 months |
The example below shows how choosing a deductible and can affect Mercedes-Benz E350 yearly insurance costs for each age group. Data assumes a single male driver, full physical damage coverage, and no discounts are applied to the premium.
Should you buy full coverage?
The chart below shows the comparison of Mercedes-Benz E350 insurance prices with and without full coverage. The prices are based on no driving violations, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are factored in.
Should you pay for full coverage?
There is no exact rule to delete full coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is more than 10% of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let’s assume your Mercedes-Benz E350 replacement cost is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $8,000 after paying the physical damage deductible. If you are currently paying more than $800 annually for your policy with full coverage, then you might want to consider buying only liability coverage.
There are some circumstances where removing full coverage is not advised. If you still owe money on your vehicle, you have to keep full coverage as part of the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not opt for liability only.
Get cheaper Mercedes-Benz E350 insurance rates in Minneapolis
Some companies don’t list every discount very well, so we researched both the well known and also the lesser-known discounts that you may qualify for.
- Good Student – Maintaining excellent grades may save as much as 25% on a Minneapolis car insurance quote. Earning this discount can benefit you well after school through age 25.
- Membership in Organizations – Being in a professional or civic organization is a good way to get lower rates on your next renewal.
- Drivers Education – Make teen driver coverage more affordable by requiring them to participate in a local driver’s education class if offered at their school.
- ABS Braking Discount – Cars with anti-lock braking systems are safer to drive and earn discounts up to 10%.
- E-sign Discounts – A handful of insurance companies will discount your bill up to fifty bucks shop Minneapolis car insurance on the web.
- Senior Discount – If you’re over the age of 55, you can get a discount up to 10%.
- Safety Course Discount – Taking part in a defensive driver course could save 5% or more and make you a better driver.
- Seat Belts Save – Requiring all passengers to use a seat belt could cut 10% or more on the medical payments or PIP coverage costs.
- Multiple Vehicles – Having multiple cars or trucks with one company may reduce the rate for each vehicle.
We need to note that some credits don’t apply to all coverage premiums. Some only reduce specific coverage prices like physical damage coverage or medical payments. If you do the math and it seems like it’s possible to get free car insurance, you won’t be that lucky.
The information below shows the difference between Mercedes-Benz E350 auto insurance costs with and without discounts applied to the policy premium. The price estimates are based on a male driver, a clean driving record, no at-fault accidents, Minnesota state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, multi-policy, safe-driver, and homeowner discounts applied.
Popular auto insurance companies and the discounts they provide can be read below.
- State Farm may offer discounts for good student, accident-free, student away at school, safe vehicle, Steer Clear safe driver discount, and driver’s education.
- Farmers Insurance discounts include pay in full, business and professional, distant student, youthful driver, teen driver, and alternative fuel.
- GEICO includes discounts for military active duty, good student, anti-lock brakes, seat belt use, air bags, and anti-theft.
- American Family may include discounts for mySafetyValet, defensive driver, early bird, bundled insurance, air bags, and accident-free.
- Nationwide offers discounts including defensive driving, multi-policy, accident-free, family plan, and business or organization.
- Progressive policyholders can earn discounts including good student, online quote discount, online signing, continuous coverage, homeowner, multi-policy, and multi-vehicle.
If you want cheaper Minneapolis car insurance quotes, ask each insurance company how you can save money. Depending on the company, some discounts may not apply in your area. If you would like to view insurers who offer discounts in Minneapolis, click this link.
Insurance quotes from neighborhood Minneapolis auto insurance agents
Some people prefer to buy from a licensed agent and often times that is recommended A nice benefit of comparing insurance online is the fact that drivers can get lower rates and still choose a local agent.
Once you complete this form (opens in new window), the coverage information is sent to local insurance agents in Minneapolis who will gladly provide quotes for your insurance coverage. It makes it easy because there is no need to search for any insurance agencies due to the fact that quote results will go straight to your inbox. You can find lower rates without a big time investment. If you wish to get a comparison quote from a specific insurance company, just go to their quote page and complete a quote there.
Picking an provider should depend on more than just the premium amount. The following questions are important to ask.
- Do they review policy coverages at every renewal?
- How does the company pay claims for a total loss?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Will they take your side in the event of a claim?
- Do they get paid more for recommending certain coverages?
Ratings for Minneapolis auto insurance companies
Choosing the highest-rated car insurance company can be challenging considering how many choices drivers have in Minnesota. The rank data below can help you choose which providers to look at when shopping around.
Top 10 Minneapolis Car Insurance Companies Ranked by Customer Service
- Mercury Insurance
- Nationwide
- State Farm
- Safeco Insurance
- American Family
- Titan Insurance
- Travelers
- Liberty Mutual
- GEICO
- Allstate
Top 10 Minneapolis Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 92%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- AAA Insurance – 87%
- Liberty Mutual – 87%
- Farmers Insurance – 87%
- The Hartford – 87%
- Progressive – 87%
Cheaper auto insurance rates are out there
Lower-priced auto insurance in Minneapolis is possible online as well as from insurance agents, and you should be comparing both in order to have the best chance of saving money. A few companies may not have price quotes online and these small, regional companies only sell through independent agencies.
As you quote Minneapolis car insurance, never reduce coverage to reduce premium. There are too many instances where drivers have reduced full coverage only to regret that they should have had better coverage. Your aim should be to purchase a proper amount of coverage at a price you can afford but still have enough coverage for asset protection.
Steps to quoting cheaper Mercedes-Benz E350 insurance in Minneapolis
Really, the only way to get budget car insurance rates is to regularly compare prices from insurers who sell auto insurance in Minneapolis. Price quotes can be compared by completing these steps.
- Step 1: Gain an understanding of what coverages are included in your policy and the measures you can control to keep rates in check. Many things that increase rates such as accidents, traffic tickets, and a less-than-favorable credit score can be rectified by being financially responsible and driving safely.
- Step 2: Compare prices from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only provide price estimates from one company like Progressive or Farmers Insurance, while agents who are independent can give you price quotes for many different companies.
- Step 3: Compare the quotes to your existing policy and determine if there is any savings. If you find a lower rate quote and change companies, make sure coverage does not lapse between policies.
- Step 4: Provide written notification to your current company of your decision to cancel your current policy. Submit payment and a signed application for the new policy. Be sure to place your new proof of insurance certificate with the vehicle registration.
An important bit of advice to remember is that you’ll want to make sure you compare the same amount of coverage on each quote and and to get price estimates from every insurance company. Doing this enables a level playing field and a better comparison of the market.
More detailed auto insurance information is available by following these links:
- Vehicle Insurance (Wikipedia)
- Who Has the Cheapest Car Insurance Quotes for Inexperienced Drivers in Minneapolis? (FAQ)
- What Insurance is Cheapest for Police Officers in Minneapolis? (FAQ)
- What Car Insurance is Cheapest for a Honda Accord in Minneapolis? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Low Mileage Drivers in Minneapolis? (FAQ)
- What Insurance is Cheapest for a Toyota Corolla in Minneapolis? (FAQ)
- Get the Right Protection (InsureUonline.org)
- Anti-Lock Brake FAQ (iihs.org)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)
- Collision Insurance Coverage (Nationwide)