Cheap Mercedes-Benz Auto Insurance in 2024 (Save Big With These 10 Companies!)

You’re going to find the best cheap Mercedes-Benz auto insurance with Allstate, Farmers, and Geico, with rates beginning at $39/month for minimum coverage. Auto insurance for high-end cars, like the Mercedes-Benz, is always more expensive than for standard vehicles. So while you can get a brand-new Mercedes for less than $40,000, you’ll likely pay higher auto insurance rates.

While you’ll see higher auto insurance quotes for owning a luxury vehicle, there are ways to achieve cheap insurance for a Mercedes-Benz.

Our Top 10 Company Picks: Cheap Mercedes-Benz Auto Insurance

We’ll help you find the best auto insurance for luxury cars like Mercedes-Benzes.

To find out if you can get cheaper auto insurance rates, enter your ZIP code into our free quote tool above to instantly compare prices from various companies near you.

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#1 – Allstate: Top Pick Overall

Pros

• Coverage Options: Liability, collision, personal injury protection, and gap insurance are all offered. Learn more with our Allstate auto insurance review.
• Rideshare Provided: Drivers for Lyft or Uber will be able to purchase additional protection.
• Discounts: Vehicle-based and driver-based discounts are both offered.
• Accident Forgiveness: Your rate won’t increase after a first accident with this coverage.

Cons

• Mixed Customer Service Reviews: Drivers have reported poor ratings regarding wait times or unhelpful customer service representatives.
• High Risk, High Rates: A driver with infractions on their license will see higher than average rates.

#2 – Farmers: Cheapest With Discounts

Pros

• Coverage Options: Personal injury protection, liability, and uninsured motorist insurance are all offered. Learn more with our Farmers auto insurance review.
• Discount Opportunities: Good students, safe drivers, and multi-policy holders will benefit financially.
• Financial Stability: When a company has a high score with A.M. Best, it means they will pay out claims better, and Farmers has an A.

Cons

• High Rates: Auto insurance is a bit more expensive than other companies depending on the coverage you need.
• Limited Availability: Auto insurance is not available in all states.

#3 – Geico: Cheapest for Customized Policies

Pros

• App and Website: Both are easy to use and allow you full access to your policy. Learn more with our Geico auto insurance review.
• Customer Satisfaction: Drivers have reported being content with claim payouts and customer service.
• Coverage Options: Geico offers rental car reimbursement as well as emergency roadside assistance.

Cons

• No Gap Coverage: This insurance option helps cover the amount owed on a car and the actual value if the vehicle is wrecked in an accident.
• High Rates After DUI: If you have even a single infraction your rates will increase more than the average.

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#4 – Liberty Mutual: Cheapest for Older Drivers

Pros

• Accident Forgiveness: Something many drivers seek, this prevents your rates from increasing after a first accident.
• New Car Replacement: Not offered by every company, this provides a new car if yours is totaled within one year.
• RightTrack Program: Potential to save up to 30% on your auto insurance. Learn more with our Liberty Mutual auto insurance review.

Cons

• Young Driver, High Rates: Teen drivers will see higher than average rates with Liberty Mutual auto insurance.
• Claim Satisfaction: Drivers have reported unsatisfactory results including wait times and poor claim payouts.

#5 – Nationwide: Cheapest With Bundled Insurance

Pros

• Vanishing Deductible: Not offered by every company, this decreases your deductible every year you are a safe driver.
• Strong Financial Ratings: Has an A+ rating with A.M. Best. Learn more with our Nationwide auto insurance review.
• Bundling Opportunities: You can bundle auto with home and life insurances.

Cons

• Mixed Customer Reviews: Some drivers have stated claim handling doesn’t go smoothly.
• Local Agent Availability: Some areas may not have as much in-person coverage.

#6 – Progressive: Cheapest for High Risk Drivers

Pros

• Competitive Pricing: Progressive will often offer lower rates than competitors. Learn more with our Progressive auto insurance review.
• Snapshot Program: Helps low mileage drivers save money on their policies.
• High Risk Driver Approved: Drivers with a DUI on record can find affordable auto insurance with Progressive.

Cons

• Teens Pay More: Younger drivers will see higher than average rates.
• Customer Service: Reviews are mixed, with some drivers not satisfied with the level of customer support.

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#7 – State Farm: Cheapest for Drivers With Good Credit

Pros

• Rideshare Assistance: If you drive for Lyft or Uber you’ll be able to find more coverage.
• Affordable Rates Despite Infractions: Even drivers with tickets will have fairly cheap policies. Learn more with our State Farm auto insurance review.
• Company Stability: State Farm is one of the largest companies in the United States that offers auto insurance.

Cons

• Limited Options: Drivers won’t be able to purchase vanishing deductible, new vehicle replacement, or accident forgiveness.
• Poor Credit, High Rates: Drivers with low credit scores will pay more than average for auto insurance.

#8 – The Hartford: Cheapest for AARP Members

Pros

• AARP Member Discounts: Seniors with AARP will get specially tailored plans and discounts.
• Lifetime Renewability: You will be able to renew your policy as long as your bill is paid and you have a valid driver’s license.
• 12-Month Rate Protection: This means your rates are locked in for a year versus the six month average. Learn more with our The Hartford auto insurance review.

Cons

• Elegibility Requirements: For some plans you must be an AARP member.
• Limited Discounts: Not as many options to save as other companies.

#9 – Travelers: Cheapest for Safe Drivers

Pros

• Coverage Options: Gap insurance, non-owner auto insurance, and accident forgiveness are all offered.
• Discount Options: More than a dozen discounts are available. Learn more with our Travelers auto insurance review.
• Travelers App: The app allows you to pay your bill, file claims, and access your insurance cards.

Cons

• Limited Rideshare: This coverage is only available in two states.
• Customer Service: The reviews are below average, with drivers unhappy regarding claim handling.

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#10 – USAA: Cheapest for Military Members

Pros

• Additional Offers: USAA also provides financial services and banking opportunities.
• Customer Satisfaction: Drivers reportedly happy with claim payout and overall customer support.
• Availability: USAA auto insurance can be purchased in all 50 states. Learn more with our USAA auto insurance review.

Cons

• Military Only: If you’re not a military member, their family, or a veteran, you won’t be able to purchase USAA auto insurance.
• SafePilot Availability: The discount program is not available in all states.

Average Mercedes-Benz Auto Insurance costs

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 a 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 $119 a month for full coverage auto insurance. Since Mercedes-Benzes are high-performance, expensive vehicles, average insurance rates spike to $181 monthly for full coverage.

While finding cheap insurance for Mercedes-Benz vehicles isn’t as easy as for other cars, there are ways to save money. One of the easiest is to find and compare auto insurance quotes with different insurance companies to find the lowest rates for your specific situation. However it is always advisable to maintain insurance on a Mercedes-Benz, or any vehicle, at all times.

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 auto insurance quotes in Mercedes-Benz models by far.

Stuck trying to choose the right coverage? Call State Farm. pic.twitter.com/rwojdNXjFa

— State Farm (@StateFarm) May 7, 2024

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

Mercedes-Benz Auto Insurance Rates by Model

While 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 – $165
• Mercedes GLA 250 – $170
• Mercedes GLC 300 – $174
• Mercedes CLA 250 – $178
• Mercedes GLE 350 – $189

As you can see, there’s a significant difference in insurance costs between models. For example, Mercedes G63 AMG insurance costs are one of the most expensive, while the average insurance cost for the Mercedes-Benz C300 is the cheapest. Always compare auto insurance rates by vehicle make and model to find the most affordable Mercedes-Benz auto insurance.

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 auto insurance 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.

If you ask us, there’s no such thing as too many Dougs. pic.twitter.com/s5o0940Bwz

— Liberty Mutual (@LibertyMutual) November 6, 2023

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. Keep in mind that your insurance cost for Mercedes-Benz models will differ from other drivers based on a number of factors.

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Factors Affecting Mercedes-Benz Auto Insurance Rates

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:

• Vehicle Model: 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 auto 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. Auto insurance for males and young drivers is higher, but the price gap lessens with age.
• Credit Score: Besides California, Hawaii, and Massachusetts, auto 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: Auto 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. Read more about the best auto insurance companies for married couples.

You’ll also see different Mercedes-Benz insurance 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.

Is full coverage really full?🚗Looks can be deceiving – it doesn’t cover everything.🚫 Have you wondered what additional coverage you may need? 👉 https://t.co/ZzJApDfK36 Use our FREE💸search to price compare insurance rates near you: https://t.co/27f1xf131D pic.twitter.com/9QnH5Wjsv8

— AutoInsurance.org (@AutoInsurance) February 22, 2023

Full coverage is more expensive than minimum coverage, but it protects your car better.

How to Get Cheap Auto Insurance for a Mercedes-Benz

While luxury auto insurance for a Mercedes-Benz is expensive compared to standard cars, there are ways to save. If you want to lower your Mercedes-Benz insurance quotes, 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 auto 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 to Your Vehicle: Equipping security systems like audible alarms or GPS tracking reduces your theft risk and can decrease your Mercedes-Benz car 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 auto insurance and Geico auto insurance have some of the lowest rates for people with low credit scores, while Progressive and State Farm have some of the highest.

Finding The Best Auto Insurance for a Mercedes-Benz

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 Mercedes-Benz insurance cost.

You will also want insurance on any Mercedes-Benz vehicles, simply because they would be too expensive to replace, but also because driving without auto insurance can have consequences. You could be fined, have your vehicle impounded, or even face jail time depending on where you live.

You should always research your insurance options to find the most affordable Mercedes-Benz auto insurance rates. Protect your vehicle at the best prices by entering your ZIP code into our free auto insurance quote comparison tool below. 

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