1. 16470 POINTS
    David Osgood
    Agent, Rural Mutual Insurance Co., Union Grove, WI
    It is impossible to say what the cost of coverage for a Mercedes Benz would be with the limited amount of information provide here. Auto insurance rates can be as unique as the vehicle and the person seeking coverage. Your auto insurance rates are based on many factors. Some of those factors are: age of the drivers to be covered, the year, make, model of the vehicles to be covered, and the motor vehicle records of the drivers to be covered just to name a few.
    Answered on November 7, 2013
  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Every year, make and model of automobile is assigned a specific symbol. The symbols are alphabetical. The symbol tracks the experience the industry and the company have with that particular year, make and model. As you can imagine a manufacturer like Mercedes Benz has a wide variety of symbols.

    The symbol is but a part of the computation of the premium. The insurance companies in California are restricted to a few criteria to further evaluate the risk. The California insurers will look at the driving record of every driver in the household and will assess “points” if there are violations present, particularly with the assigned driver.

    The points based upon a driver’s record have a compounding effect because in California a driver with less than two points is considered a “good driver” and awarded a substantial discount. Another factor that influences the company is the presence of inexperienced drivers.

    The accident record of the household is also considered closely. Claims for bodily injury receive a great deal of scrutiny. Most points given for accidents or violations remain on the driving record for three years. Racing and DUI convictions remain on the record for ten years.

    In California the distance you driver your Mercedes Benz each year is also a part of the computation. Services are available to insurance companies that track your mileage every time the vehicle is serviced. These services project you annual mileage and companies use bands of factors to develop the final premium.

    There are a few additional factors considered such as location where the car is being garaged, and occupation of the drivers in the household,

    Most automobile insurance is rated by a computer with little additional input from a live underwriter or agent. All of this information is used to compile a premium that the insurance company considers adequate for the risk. If approved by the computer, the agent is authorized to issue the policy and subject to potential additional review, the policy is in force.
    Answered on March 4, 2015
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