Save on 2020 Mercedes-Benz AMG GT Insurance Cost in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: May 22, 2024

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Looking for better insurance coverage rates for your Mercedes-Benz AMG GT? Finding better insurance prices for a Mercedes-Benz AMG GT can turn out to be a lot of work, but you can follow these tips to make it easier.

There is a right way and a wrong way to compare insurance coverage rates and we’ll show you the proper way to get price quotes for a Mercedes-Benz and obtain the lowest possible price.

How to lower your insurance rates

Consumers need to have an understanding of some of the factors that aid in calculating your premiums. If you know what positively or negatively impacts your premiums, this enables informed choices that could help you find lower premium levels.

The factors shown below are some of the most common factors used by your company to calculate your premiums.

  • Liability claims can be big – Liability insurance is the coverage that protects you when you are responsible for damages caused by your negligence. It provides legal defense to attempt to prove you were not liable. Liability is cheap as compared to coverage for physical damage, so drivers should carry high limits.
  • Which gender costs less? – Over the last 30 years, statistics show women tend to be less risk to insure than men. Now that doesn’t mean males are worse at driving than females. Both sexes are in accidents at about the same rate, but the men have accidents that have higher claims. Not only that, but men also get ticketed for serious violations like DWI (DUI) or reckless driving.
  • More traffic means higher claims – Living in smaller towns and rural areas of the country can be a good thing when shopping for auto insurance. Drivers who live in large cities regularly have more auto accidents and longer commutes to work. Fewer people means fewer accidents.
  • Lower stress equals lower auto insurance rates – Did you know your occupation can influence how much you pay for auto insurance? Occupations like fire fighters, executives and stock brokers generally pay higher rates than the rest of us due to high stress levels and extremely grueling work hours. Other careers such as professors, students and homemakers get better rates for AMG GT coverage.
  • High coverage deductibles lower costs – Insurance for physical damage to your car, also called ‘full coverage’, insures against damage to your Mercedes-Benz. Some instances where coverage would apply are a broken windshield, damage caused by hail, and rolling your vehicle. Physical damage deductibles state the amount of money you are required to pay if a covered claim is submitted. The more the insured is willing to pay, the better rate you will receive for AMG GT coverage.
  • Single drivers may pay higher rates – Being married may earn you lower rates on auto insurance. Having a significant other may mean you are more responsible and statistics prove drivers who are married file infrequent claims.
  • Small claims can cost you – Auto insurance companies award the best rates to people who only file infrequent claims. If you are the type of insured that files lots of claims you can definitely plan on either a policy non-renewal or much higher rates. Auto insurance is intended for major claims that would cause financial hardship.
  • Vehicles with better crash test results cost less to insure – Vehicles that have high safety ratings tend to be cheaper to insure. Vehicles built for safety help reduce the chance of injuries in an accident and fewer serious injuries translates into savings for insurance companies and thus lower rates. If your Mercedes-Benz has at least four stars on or an “acceptable” rating on you may qualify for a discount.

Low cost insurance coverage rate quotes

Performing a rate comparison is a ton of work if you don’t utilize the most efficient way. You can spend your afternoon talking about coverages with insurance companies in your area, or you can stay home and use the internet to get the quickest rates.

All the larger companies participate in a marketplace that enables customers to send in one quote, and each participating company provides a quote based on the submitted data. This prevents consumers from doing quotation requests for every insurance coverage company. To submit your quote information now, enter your zip code here.

The one downside to comparing rates this way is buyers cannot specifically choose the providers you want to price. If you prefer to choose individual companies for rate comparison, we have a page of insurance coverage companies in your area. Click to enter zip code.

Compare rates however you want, just do your best to enter the exact same coverage data for each price quote. If the quotes have differing limits it will be very difficult to decipher which rate is best.

Are you earning every discount?

Some insurance providers don’t list the entire discount list in an easy-to-find place, so the list below gives a summary of a few of the more common as well as some of the hidden discounts that you can inquire about if you buy auto insurance online.

  • Driver’s Education for Students – Require your teen driver to take driver’s ed class in high school.
  • Good Student – A discount for being a good student can be rewarded with saving of up to 25%. Earning this discount can benefit you well after school through age 25.
  • No Claims – Insureds with no claims or accidents can save substantially compared to drivers who are more careless.
  • Sign Early and Save – Some companies provide a discount for buying a policy before your current policy expires. You may see this discount when you get auto insurance quotes online.
  • Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn a discount if you purchase auto and life insurance together.

A quick disclaimer, some credits don’t apply to the overall cost of the policy. Most only cut the cost of specific coverages such as liability, collision or medical payments. If you do the math and it seems like it’s possible to get free car insurance, company stockholders wouldn’t be very happy.

A few popular companies and the discounts they provide can be read below.

  • Farm Bureau offers discounts for good student, safe driver, driver training, multi-policy, renewal discount, youthful driver, and multi-vehicle.
  • MetLife discounts include good student, good driver, multi-policy, accident-free, and defensive driver.
  • Progressive offers discounts including good student, online signing, homeowner, online quote discount, multi-policy, continuous coverage, and multi-vehicle.
  • AAA offers premium reductions for AAA membership discount, anti-theft, multi-policy, pay-in-full, and multi-car.
  • American Family policyholders can earn discounts including good student, Steer into Savings, good driver, early bird, multi-vehicle, and TimeAway discount.
  • GEICO may include discounts for emergency military deployment, driver training, defensive driver, anti-lock brakes, good student, and anti-theft.
  • State Farm includes discounts for accident-free, safe vehicle, passive restraint, multiple autos, good driver, Steer Clear safe driver discount, and good student.

Before purchasing a policy, check with each company or agent what discounts are available to you. Discounts may not apply in your area.

When in doubt talk to an agent

When it comes to choosing the best insurance coverage coverage for your personal vehicles, there is no best way to insure your cars. Each situation is unique.

For example, these questions can help discover if you will benefit from professional help.

  • Should I get collision insurance on every vehicle?
  • Am I covered when driving on a suspended license?
  • How can I get high-risk coverage after a DUI?
  • Which is better, split liability limits or combined limits?
  • How do I buy GAP insurance?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • Do I need to file an SR-22 for a DUI in my state?
  • Can I afford low physical damage deductibles?
  • Can my teen driver be rated on a liability-only vehicle?
  • Can I get a multi-policy discount?

If you’re not sure about those questions, you may need to chat with an insurance agent. To find an agent in your area, complete your zip code. It’s fast, doesn’t cost anything and can provide invaluable advice.

Insurance policy coverages for a 2020 Mercedes-Benz AMG GT

Understanding the coverages of your policy aids in choosing appropriate coverage for your vehicles. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy.

Uninsured or underinsured coverage

This protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your Mercedes-Benz AMG GT.

Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family. Most of the time the UM/UIM limits are similar to your liability insurance amounts.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses such as nursing services, chiropractic care, doctor visits, hospital visits and prosthetic devices. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not universally available but can be used in place of medical payments coverage

Coverage for liability

Liability coverage will cover injuries or damage you cause to other people or property in an accident. This insurance protects YOU against claims from other people. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 50/100/50 that translate to a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property. Another option is a combined limit which combines the three limits into one amount without having the split limit caps.

Liability coverage protects against claims such as bail bonds, repair bills for other people’s vehicles and legal defense fees. The amount of liability coverage you purchase is a personal decision, but buy as large an amount as possible.

Collision coverage protection

This coverage pays for damage to your AMG GT caused by collision with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims such as colliding with a tree, sustaining damage from a pot hole and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Another option is to increase the deductible in order to get cheaper collision rates.

Comprehensive protection

This will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like theft, hitting a deer, vandalism, hitting a bird and rock chips in glass. The maximum amount your insurance company will pay is the actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Final considerations

In this article, we presented a lot of information how to get a better price on 2020 Mercedes-Benz AMG GT insurance. The most important thing to understand is the more rate quotes you have, the better chance you’ll have of finding cheap auto insurance. Consumers may even find the lowest priced car insurance comes from a company that doesn’t do a lot of advertising.

As you restructure your insurance plan, do not reduce coverage to reduce premium. There have been many cases where an insured cut full coverage and learned later they didn’t have enough coverage. The goal is to purchase a proper amount of coverage at an affordable rate while not skimping on critical coverages.

Lower-priced 2020 Mercedes-Benz AMG GT insurance is attainable on the web in addition to many insurance agents, and you should compare price quotes from both so you have a total pricing picture. Some car insurance companies may not have the ability to get quotes online and usually these regional insurance providers sell through independent agencies.

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