Cutting costs on Mercedes-Benz E350 insurance in Denver can seem to be kind of frustrating for drivers not familiar with quoting and comparing rates online. With a ridiculous number of insurers available, it can quickly become a difficult mission to locate the lowest price in Colorado.
Unbelievably, most car insurance buyers kept their coverage with the same car insurance company for well over three years, and roughly 40% of drivers have never compared quotes from other companies. The average driver in Denver could save an average of roughly $610 each year by just comparing quotes, but they don't understand how simple it is to do a rate comparison.
How to shop Mercedes-Benz E350 insurance online
Keep in mind that comparing a large number of companies gives you a better chance of getting a lower rate. Not every company provides rate quotes online, so it's recommended that you also compare price quotes from them as well.
The car insurance companies shown below provide price comparisons in Denver, CO. If the list has multiple companies, it's a good idea that you click on several of them to get the most competitive price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|E350 2-Dr Coupe||$238||$620||$338||$20||$102||$1,318||$110|
|E350 4-Dr Sedan||$226||$432||$236||$14||$70||$978||$82|
|E350 with 4-MATIC 4-Dr Sedan||$324||$688||$244||$14||$72||$1,342||$112|
|Get Your Own Custom Quote Go|
Data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Rate quotes do not factor in specific garaging location which can lower or raise prices substantially.
Impact of careless driving on auto insurance rates
The illustration below demonstrates how citations and accidents can affect Mercedes-Benz E350 car insurance rates for each age group. The premiums assume a single male driver, comp and collision included, $1,000 deductibles, and no discounts are applied.
The chart below illustrates how your choice of deductibles and can influence Mercedes-Benz E350 annual premium costs for different age groups. The rates are based on a single male driver, full coverage, and no additional discounts are factored in.
Does full coverage make sense?
The chart below shows the comparison of Mercedes-Benz E350 yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Colorado. The premium estimates are based on no claims, a clean driving record, $1,000 deductibles, married female driver, and no discounts are applied.
When to stop buying physical damage coverage
There is no exact rule of when to exclude physical damage insurance, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.
For example, let's assume your Mercedes-Benz E350 book value is $7,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would receive is $6,000 after paying your policy deductible. If premium cost is more than $600 annually for your policy with full coverage, then it's probably a good time to buy liability coverage only.
There are some circumstances where buying only liability insurance is not a good plan. If you still owe a portion of the original loan, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
Choosing the best E350 insurance in Colorado is an important decision
Despite the high cost of buying insurance for a Mercedes-Benz E350 in Denver, maintaining insurance is required by state law in Colorado and it also provides benefits you may not be aware of.
- Just about all states have compulsory liability insurance requirements which means you are required to carry a specific level of liability if you drive a vehicle. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your E350 has a lienholder, it's guaranteed your bank will require that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the bank will be required to insure your Mercedes-Benz for a much higher rate and require you to pay a much higher amount than you were paying before.
- Insurance safeguards your Mercedes-Benz and your assets. It will also provide coverage for medical transport and hospital expenses incurred in an accident. As part of your policy, liability insurance also covers legal expenses if anyone sues you for causing an accident. If mother nature or an accident damages your car, comprehensive (other-than-collision) and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance more than cancel out the cost, especially if you ever need it. But the average American driver overpays more than $850 per year so we recommend shopping around at every policy renewal to be sure current rates are still competitive.
Verify you're receiving every discount
Properly insuring your vehicles can get expensive, but there are discounts available that can drop the cost substantially. Certain discounts will be triggered automatically when you get a quote, but occasionally some discounts must be specially asked for prior to receiving the credit.
- Anti-lock Brake Discount - Cars and trucks that have anti-lock braking systems have fewer accidents and therefore earn up to a 10% discount.
- Drive Safe and Save - Safe drivers can pay as much as 50% less than their less cautious counterparts.
- Bundled Policy Discount - If you insure your home and vehicles and insure them with the same company they may give you a discount of nearly 15% which can help you find affordable Mercedes-Benz E350 insurance rates in Denver.
- No Accidents - Insureds with no claims or accidents get the best car insurance rates when compared to insureds who have frequent claims or accidents.
- Discounts for Government Workers - Having worked for a branch of the government can earn a discount up to 10% with select insurance companies.
- Driver Safety - Taking a safe driver course could earn you a small percentage discount and also improve your driving technique.
- Drivers Ed for Students - Reduce the cost of insurance for teen drivers by having them successfully complete driver's ed class if offered at their school.
- Safety Restraint Discount - Drivers who always wear seat belts and also require passengers to use their safety belts can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
- Discount for Life Insurance - Some companies give a small discount if you purchase life insurance from them.
Just know that some of the credits will not apply the the whole policy. Most only apply to the cost of specific coverages such as collision or personal injury protection. Even though it may seem like all the discounts add up to a free policy, insurance companies wouldn't stay in business. But any discount will help lower your policy cost.
A list of companies and some of the discounts are outlined below.
- Farm Bureau offers premium reductions for good student, renewal discount, driver training, 55 and retired, multi-vehicle, and youthful driver.
- MetLife policyholders can earn discounts including accident-free, good driver, defensive driver, claim-free, and good student.
- Progressive has savings for good student, online signing, multi-policy, multi-vehicle, and homeowner.
- AAA may have discounts that include multi-car, AAA membership discount, education and occupation, good driver, anti-theft, multi-policy, and pay-in-full.
- American Family has discounts for air bags, good driver, TimeAway discount, good student, bundled insurance, accident-free, and mySafetyValet.
- GEICO includes discounts for multi-policy, anti-theft, emergency military deployment, federal employee, and five-year accident-free.
- State Farm offers discounts for Drive Safe & Save, passive restraint, defensive driving training, driver's education, accident-free, student away at school, and good driver.
Before you buy a policy, ask all the companies to give you their best rates. A few discounts might not be offered everywhere.
Are car insurance agents used anymore?
A small number of people still like to have an agent's advice and that can be a great decision One of the benefits of comparing rates online is that you can find the lowest rates and still have a local agent. Buying from and supporting neighborhood agents is especially important in Denver.
After completing this form (opens in new window), your insurance coverage information is transmitted to local insurance agents in Denver who will return price quotes to get your business. You don't have to do any legwork due to the fact that quote results will go to you. You can find lower rates AND an agent nearby. If you have a need to get a comparison quote from a specific insurance company, you just need to go to their quote page to submit a rate quote request.
When finding a local insurance agency, you need to know there are two types of agencies and how they differ in how they can insure your vehicles. Auto insurance agents can be classified as either exclusive agents or independent agents.
Independent Insurance Agents
Independent agencies can sell policies from many different companies and that is an advantage because they can write policies with an assortment of companies enabling the ability to shop coverage around. If they find a lower price, they simply move your policy to a different company which requires no work on your part. If you are comparing rate quotes, we recommend you compare quotes from several independent insurance agents for maximum quote selection. Most independent agents also contract with additional companies that you may not be familiar with which can save you money.
The following are Denver independent insurance agents that may be able to give price quotes.
- Longevity Insurance Brokers
100 Fillmore St - Denver, CO 80206 - (720) 209-4598 - View Map
- L A Insurance
2684 S Broadway - Denver, CO 80210 - (303) 282-8000 - View Map
- Dagley Insurance and Financial Services Inc
2055 S Federal Blvd - Denver, CO 80219 - (303) 975-1229 - View Map
Exclusive Insurance Agencies
These type of agents have only one company to place business with and some examples include State Farm, AAA, and Liberty Mutual. Exclusive agents cannot compare other company's rates so they have to upsell other benefits. These agents are trained well in insurance sales and that allows them to sell at a higher price point. Drivers often buy insurance from these agents partially due to high brand loyalty rather than having low rates.
Listed below is a short list of exclusive insurance agencies in Denver willing to provide price quotes.
- Allstate Insurance: Jack Sughrue
3401 Quebec St Ste 9400 - Denver, CO 80207 - (303) 377-4767 - View Map
- American Family Insurance - Matthew Ditzenberger
1485 S Colorado Blvd #300c - Denver, CO 80222 - (303) 756-8038 - View Map
- Rick Emerson Jr. - State Farm Insurance Agent
4800 Happy Canyon Rd #230 - Denver, CO 80237 - (303) 781-1133 - View Map
Finding the right insurance agent shouldn't rely on just the premium amount. Before buying a policy in Denver, get answers to these questions.
- Is the agency covered by Errors and Omissions coverage?
- Will they make sure you get an adequate claim settlement?
- Is insurance their full-time profession?
- Is vehicle mileage a factor when determining depreciation for repairs?
- Has the agent ever had any license suspensions?
- How much can you save by raising your physical damage deductibles?
- Which company do they place the most coverage with?
Auto insurance coverage specifics
Having a good grasp of your auto insurance policy can be of help when determining which coverages you need at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy.
Uninsured and underinsured coverage
Your UM/UIM coverage provides protection when the "other guys" either have no liability insurance or not enough. Covered claims include injuries to you and your family and damage to your Mercedes-Benz E350.
Because many people have only the minimum liability required by law (Colorado limits are 25/50/15), their liability coverage can quickly be exhausted. That's why carrying high Uninsured/Underinsured Motorist coverage is very important. Normally your uninsured/underinsured motorist coverages are identical to your policy's liability coverage.
This coverage covers damage to your E350 from colliding with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for claims like crashing into a building, scraping a guard rail, damaging your car on a curb and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. It's also possible to bump up the deductible on your E350 to get cheaper collision coverage.
Liability car insurance
Liability insurance will cover damages or injuries you inflict on people or other property. This coverage protects you against other people's claims. It does not cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 25/50/15 which stand for a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $15,000. Another option is one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.
Liability coverage pays for claims such as structural damage, bail bonds, emergency aid, pain and suffering and legal defense fees. How much liability should you purchase? That is a decision to put some thought into, but it's cheap coverage so purchase as high a limit as you can afford. Colorado requires drivers to carry at least 25/50/15 but you should consider buying more coverage.
Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things like falling objects, hitting a bird and a broken windshield. The highest amount you'll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle's value it's probably time to drop comprehensive insurance.
Coverage for medical payments
Coverage for medical payments and/or PIP reimburse you for immediate expenses such as prosthetic devices, chiropractic care, surgery, pain medications and EMT expenses. They are often utilized in addition to your health insurance plan or if you do not have health coverage. Coverage applies to all vehicle occupants and also covers any family member struck as a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay
More quotes mean more car insurance savings
When shopping online for car insurance, don't be tempted to buy less coverage just to save a little money. There have been many situations where someone sacrificed comprehensive coverage or liability limits only to regret that the savings was not a smart move. The goal is to buy enough coverage at the lowest possible cost, but don't skip important coverages to save money.
The cheapest Mercedes-Benz E350 insurance in Denver is possible from both online companies and from local agencies, so you should compare both to get a complete price analysis. Some insurance companies may not offer the ability to get a quote online and many times these smaller companies sell through local independent agents.
We covered some good ideas how you can lower your Mercedes-Benz E350 insurance auto insurance rates in Denver. It's most important to understand that the more price quotes you have, the higher the chance of saving money. Consumers may even find the most savings is with a company that doesn't do a lot of advertising.
- Tools for Teen Driving Safety (State Farm)
- Who Has the Cheapest Colorado Car Insurance for a Chevrolet Cruze? (FAQ)
- Alcohol Impaired Driving FAQ (iihs.org)
- Teen Driving Statistics (GEICO)