Mercedes-Benz Auto Insurance 2023

Luxury car insurance is always more expensive regardless of the brand, including Mercedes-Benz. So while you can get a brand-new Mercedes for less than $40,000, you’ll likely pay higher car insurance rates than you would for a standard car.

Car insurance for high-end cars is more expensive for various reasons, but the most impactful one is that it costs more to repair and replace them. Although you’ll see higher quotes for car insurance when you own a Mercedes-Benz, there are ways to save.

Read on to learn more about car insurance prices for Mercedes-Benz and how to save. Then, compare rates with as many companies as possible to find the lowest rates for your situation.

How much is auto insurance for a Mercedes-Benz?

The average price for a new Mercedes-Benz runs between $40,000 and $75,000, but some models cost more than $100,000. As expensive luxury cars, auto insurance for Mercedes-Benz costs more than standard auto insurance policies.

There are several reasons why insurance for Mercedes-Benz and other luxury brands costs more, including the higher price tags. The more expensive a car is, the more it costs to fix or replace. Additionally, drivers with high-performance cars are statistically more likely to get tickets for speeding or reckless driving.

The average driver in America pays $147 a month for full coverage car insurance. Since Mercedes-Benzes are high-performance, expensive vehicles, average insurance rates spike to $375 monthly for full coverage.

Although finding cheap insurance for Mercedes-Benz vehicles isn’t as easy as for other cars, there are ways to save. One of the easiest is to find and compare car insurance quotes with different insurance companies to find the lowest rates for your specific situation.

Mercedes-Benz Auto Insurance Rates by Company

While the company with the lowest rates for you depends on various factors, State Farm is often the cheapest option for Mercedes-Benz insurance. With an average price of $180 a month for full coverage, State Farm has the cheapest luxury car quotes by far.

Behind State Farm auto insurance, Geico and Nationwide are also good options for Mercedes-Benz insurance. On the other end of the spectrum, Progressive and Allstate have the highest average rates for a Mercedes-Benz, coming in at over $500 a month.

Mercedes-Benz Auto Insurance Rates by Model

Although car insurance for a Mercedes-Benz will almost always be more expensive than non-luxury cars, some models cost less than others. While rates vary by several factors, some of the most popular Mercedes-Benz models come with the following average monthly rates:

• Mercedes C300 – $325
• Mercedes GLA 250 – $262
• Mercedes GLC 300 – $271
• Mercedes G 63 AMG – $432
• Mercedes AMG GT – $568
• Mercedes CLA 250 – $311
• Mercedes GLE 350 – $27

As you can see, there’s a significant difference in insurance costs between models. For example, Mercedes G 63 AMG insurance costs are one of the most expensive, while the GLA 250 is more affordable.

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What is Mercedes-Benz Financial Services?

When you buy a Mercedes-Benz, you can get insurance from whichever company you like. However, you should consider the Mercedes-Benz Financial Services (MBFS) program.

The MBFS program works with Liberty Mutual to provide Mercedes drivers with as much car insurance as they want. Liberty Mutual’s rates tend to be some of the highest for Mercedes but using the MBFS makes it easy to manage your insurance. You can also take advantage of the Mercedes-Benz insurance premium calculator, which shows you how much you’ll pay if you choose monthly installments for your insurance.

You can use the MBFS to buy prepaid maintenance or an extended warranty. You can also manage windshield repairs, key replacements, dent repairs, and tire replacements.

What factors affect auto insurance rates for a Mercedes-Benz?

When looking for car insurance, there are several factors that companies look at to determine your rates. Whether you’re getting insurance for a used car or a brand-new Mercedes-Benz, the following factors affect your rates:

• Model of your vehicle. As you saw above, the model you buy significantly impacts your car insurance rates. Mercedes convertibles typically have the highest insurance rates.
• Mercedes class. Most Mercedes models come with different class options. S-Class Mercedes vehicles generally cost more than A-Class.
• Location. Insurance companies have detailed statistics about who makes claims, including by ZIP code. If you move even one ZIP code over, you’ll see different rates because car insurance companies will check your address.
• Age and gender. Statistically, men and young drivers are more likely to get into accidents, drive recklessly, and file claims. Car insurance for males and young drivers is higher, but the price gap lessens with age.
• Credit score. Except in California, Hawaii, and Massachusetts, insurance companies look at your credit score for two reasons. First, drivers with higher scores are more likely to pay their bills on time, and second, people with lower scores typically file more claims.
• Driving history. Insurance companies check driving records, so if you have serious traffic incidents on your driving record, like speeding tickets, at-fault accidents, or DUIs, you’ll pay more for insurance.
• Marital status. Married drivers are less likely to file claims than single drivers, so most companies give them a discount on their insurance.

You’ll also see different prices based on the coverage amount you want to buy. For example, people with a car loan or lease usually need full coverage until they own their car outright. Full coverage is more expensive than minimum coverage, but it gives your car better protection.

How can you save money on auto insurance for Mercedes-Benz?

While Mercedes-Benz insurance is expensive compared to standard cars, there are ways to save. If you want to lower your insurance rates for a Mercedes-Benz, try the following tips:

• Look for discounts. Insurance companies offer auto insurance discounts to help customers save. When you’re in the market for car insurance, you should check how many discounts each company offers.
• Telematics programs. Usage-based car insurance programs track your driving habits to offer you lower prices. Depending on the company, you might save up to 40% on your insurance.
• Find a safe parking spot. Insurance companies reward drivers who keep their cars in a secure parking spot, such as their driveway or a covered garage.
• Add security. Equipping security systems like audible alarms or GPS tracking reduces your theft risk and can decrease your insurance rates.
• Keep your record clean. Drivers with clean records pay less for insurance than others. If you get an infraction, it’s still important to avoid additional incidents to help lower your future rates.

Insurance companies use unique formulas to determine rates. While all companies look at the same factors, some are more forgiving than others for certain demographics. For example, Nationwide and Geico have some of the lowest rates for people with low credit scores, while Progressive and State Farm have some of the highest.

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Find the Best Auto Insurance for Mercedes-Benz Today

Regardless of the type of Mercedes you buy, you’ll likely see higher insurance rates than standard cars. However, since luxury cars like Mercedes-Benzes come with higher rates, there are plenty of ways to save on your auto insurance.

You should always research your insurance options to find the most affordable price. Compare as many quotes as possible to ensure you find the lowest rates.

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