Mercedes Car Insurance

Mercedes-Benz, often referred to as Mercedes, is a German luxury auto brand with a worldwide presence. As a leader in the luxury vehicle space, Mercedes is a popular choice among those looking for powerful, innovative, and prestigious vehicles. No matter what model of Mercedes you drive, you need car insurance to go with it. That’s where BrokerLink comes in.

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Mercedes Benz Overview

Founded in 1926, Mercedes is a German auto brand known for its luxury vehicles. Today, Mercedes produces everything from sedans, roadsters, and SUVs to coupes, wagons, and even commercial vehicles. They also recently introduced an all-electric range, which includes the likes of the EQB SUV, EQS SUV, and EQS Sedan.

Fun Facts About Mercedes Benz Vehicles

  • Although Mercedes-Benz is a German brand through and through, Mercedes vehicles are now manufactured in over 30 countries worldwide.
  • Mercedes pioneered the first anti-lock brakes. The German automaker was the first to come up with this innovative technology, introducing it alongside the Mercedes 1978 S Class. It quickly became the standard on all Mercedes vehicles.
  • Hybrids are all the rage in the 21st century, but did you know that Mercedes built a hybrid vehicle back in 1906? It was called the Mercedes-Benz Mixte mode and the car had a dual engine. It featured a gas engine in the front and an engine in the rear that powered the back wheels and was sparked by a dynamo.

Mercedes Benz Insurance Coverage

The cost of car insurance for Mercedes drivers varies significantly. This is because the make of the vehicle you drive is just one factor of many that insurance companies consider when calculating rates. We dive into some of the other factors that influence car insurance rates in Canada below, but before we do, let’s delve a little deeper into how the type of vehicle you drive can impact the cost. When assessing your vehicle, an insurance provider is likely to ask about its make, model, year, trim level, and any safety features or anti-lock devices it contains.

Generally speaking, the more expensive your vehicle, the more your insurance policy will cost as it will cost your insurer more money to repair or replace your vehicle in the event of damage. That said, if it is equipped with high-end safety devices, this can lower your premium. Since Mercedes cars are luxury vehicles, your insurance will likely cost more than if you drove a more budget-friendly car. However, there are ways to save money on car insurance, which are also discussed below.

Factors that impact Mercedes Benz insurance premiums

As mentioned above, the make of the vehicle you drive is just one factor that can influence your insurance premium. There are many others, such as a driver’s age, location, driving record, or claims history, that will also impact your car insurance rate. Mercedes drivers might find it helpful to understand exactly which details matter to insurance companies. That is why the experts at BrokerLink put together the following list of factors that are likely to influence Mercedes car insurance premiums:

  • Location
  • Age
  • Driving record
  • Driving experience
  • Past claims
  • Annual mileage
  • Prior insurance coverage
  • Your deductible
  • Local laws
  • How you use your vehicle
  • Marital status

Insurance coverage for Mercedes Benz drivers

Car insurance is mandatory in Canada no matter what kind of vehicle you drive, so you will need to purchase a policy that complies with provincial law. That said, many Mercedes Benz drivers may want to purchase insurance policies that go above and beyond these minimum requirements. For example, drivers of luxury vehicles like Mercedes might find collision or comprehensive coverage worthwhile. To help you determine your auto insurance needs, the experts at BrokerLink outline some of the most common types of mandatory and optional insurance coverage below:

Third party liability coverage

Third party liability coverage is compulsory in Canada. It protects the policyholder if they are injured or their Mercedes Benz car is damaged in an accident that they caused. Beyond medical bills and vehicle repairs, liability coverage can also help pay for legal counsel, court fees, and more. Minimum coverage requirements for third party liability vary by province, and you will need to make sure your Mercedes auto insurance policy meets them. For example, in Ontario and Alberta, Mercedes drivers must have no less than $200,000 in third party liability coverage.

Accident benefits coverage

Accident benefits coverage is another type of mandatory auto insurance coverage in Canada. It protects the policyholder if they, a passenger, or a pedestrian require medical attention following a collision. Regardless of which party is at fault for the accident, the policyholder can still receive compensation to pay for medical expenses under the accident benefits portion of their policy.

Comprehensive coverage

Comprehensive coverage offers financial protection against non-collision-related incidents, such as theft, vandalism, fire, falling objects, water damage, and more. This optional coverage type is popular among Mercedes drivers due to the peace of mind it provides. For example, it can protect your Mercedes Benz vehicle while it is parked.

Collision coverage

Collision coverage protects the policyholder if they are in an accident with another vehicle or object. It covers the policyholder regardless of whether they are at fault for the accident and provides compensation for property damage resulting from the accident. Collision coverage is optional but worthwhile for many Mercedes drivers.

Uninsured automobile coverage

Uninsured automobile coverage is another type of mandatory coverage in Canada. It protects the policyholder and any passengers in their vehicle if they get into a collision with an at-fault driver who is either uninsured or underinsured. It can also protect Mercedes Benz drivers against hit-and-run incidents.

Accident forgiveness coverage

One final type of optional car insurance coverage is accident forgiveness. Accident forgiveness is additional coverage that can be added to your car insurance policy as an endorsement, to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim.

Note: coverage varies by province.

Tips to save money on Mercedes auto insurance

There are several ways that Mercedes Benz drivers can save money when shopping for auto insurance. From bundling policies to outfitting your Mercedes vehicle with winter tires, check out this list of money-saving tips:

Increase the deductible on your Mercedes Benz auto insurance policy

Increasing your policy deductible often lowers your insurance premium, which makes it an effective method of saving money on Mercedes car insurance. All insurance policies have a deductible and it’s up to you to set yours. Although raising it, even by as little as $500 or $1,000, is likely to reduce your rate, you should not do so if you cannot afford it. Get in touch with BrokerLink to speak with a knowledgeable insurance broker and learn more about the effects of increasing your Mercedes Benz car insurance deductible.

Pay for your Mercedes Benz car insurance policy annually rather than monthly

A second tip for saving money on Mercedes Benz car insurance is to pay for your policy annually rather than monthly. Many insurance companies give you the option of paying yearly or monthly. Though the latter might sound more enticing, it usually ends up being more expensive because insurers usually charge administrative fees for each payment made.

Bundle multiple insurance policies together

Another great tip for saving money on any kind of insurance, including Mercedes car insurance, is to bundle multiple insurance policies together. Insurance providers often reward loyalty, which is why policyholders who buy more than one policy from them may be eligible for a discount. So if you are looking to insure multiple cars in your household (e.g. your car and your spouse’s car - whether both vehicles are Mercedes or not), or buy Mercedes car insurance on top of another type of insurance, such as commercial insurance, home insurance, or recreational vehicle insurance, we suggest buying it all from the same insurance provider. Doing so could save you up to 15% per policy.

Install winter tires on your Mercedes Benz car

Did you know that you can save money on car insurance by installing winter tires on your Mercedes vehicle? Though winter tires are not mandatory in all Canadian provinces and territories, installing them on your Mercedes car can make you eligible for a car insurance discount of up to 5%. This is because insurance providers recognize that snow tires make winter driving safer and reduce your odds of getting into an accident. If you are interested in a winter tire car insurance discount for your Mercedes, contact BrokerLink today.

Buy a hybrid or electric Mercedes Benz vehicle

Buying a hybrid or electric vehicle (EV) is another tip for saving money on Mercedes Benz car insurance. Currently, Mercedes sells several electric and hybrid models in Canada, including the EQB SUV, EQS SUV, and EQS Sedan. By driving one of these, you may be eligible for a discount of up to 10%.

Enrol in driving school

Enrolling in an approved driving school in your province is one final way for Mercedes drivers (especially young Mercedes drivers) to save money on car insurance. There are recognized driving schools all over the country, and graduating from one of them can result in major savings. This is because insurance companies recognize that taking driving lessons from a professional makes you a better, more responsible driver and decreases your chances of getting into a collision.

Work with a trusted insurance broker

Another way to save money on Mercedes Benz car insurance is by enlisting the help of an experienced insurance broker. BrokerLink insurance advisors are fully licenced and are dedicated to finding great coverage at low rates. We will unlock discounts on your behalf, compare quotes to ensure you get a competitive rate, and let you in on the industry’s secrets for saving money on auto insurance. If you’re looking for comprehensive coverage at an affordable price for your Mercedes Benz vehicle, contact BrokerLink today.

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Are you ready to purchase car insurance for your Mercedes?

Since 1991, BrokerLink has been matching Canadians with quality car insurance policies. No matter what province you live in or what model of Mercedes you drive, we will work to find you a great policy.

Get started today by taking advantage of BrokerLink’s free online auto insurance quotes. Requesting a free quote has never been easier. All you have to do is answer a few basic questions about yourself and the model and year of your Mercedes Benz vehicle. In minutes, you will receive an accurate, competitive, and 100% obligation-free quote. You can also give us a call or visit us in person at one of our locations to learn more about Mercedes car insurance.

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FAQs

Is it safe to purchase Mercedes Benz car insurance online?

Yes, it is perfectly safe to purchase car insurance online. In fact, all types of insurance can now be purchased online in a matter of minutes.

Why should I purchase Mercedes Benz car insurance from an insurance broker?

There are many reasons why Mercedes drivers choose to purchase auto insurance from an insurance broker. First, insurance brokers do the work for you. Second, insurance brokers work independently of insurance companies, which allows them to put the customer’s needs first.

For more FAQs, visit the BrokerLink FAQs page.

*This article is in no way sponsored, endorsed, or associated with Mercedes Benz.


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