10 Best Car Insurance Companies for Mercedes in 2024 (Save With These Providers)

Allstate, Progressive and Farmers are top picks with superior coverage specifically designed for luxury vehicles and shine with their competitive rates and strong protection.

These three companies excel in providing optimal insurance solutions for your Mercedes, ensuring peace of mind and exceptional service.

Explore their offerings to find the perfect match for your needs. Explore insurance savings in our full guide titled, “Car Insurance Requirements.”

Find cheap car insurance quotes by entering your ZIP code above.

#1 – Allstate: Top Overall Pick

Pros

• Bundling Discounts for Mercedes: Allstate offers an appealing 25% discount when consolidating multiple Mercedes insurance plans. This significant savings opportunity is perfect for those managing more than one policy, making it an economical choice. Learn more about the offerings in our guide titled, “Allstate Auto Insurance Review & Complaints.”
• High A.M. Best Rating: With an A+ rating from A.M. Best, Allstate demonstrates exceptional financial strength and stability. This top-tier rating assures Mercedes owners of the company’s reliability to meet its financial commitments, which is essential for ongoing coverage.
• Safe Driving Rewards: Allstate incentivizes safe driving with additional savings for Mercedes drivers. This can notably reduce premiums for those who maintain a spotless driving record, reflecting a dedication to encouraging responsible driving.

Cons

• Limited Customization: Despite its advantages, Allstate’s Mercedes coverage options might not offer the extensive flexibility found with some competitors. This restriction can affect those seeking highly personalized insurance plans suited to their specific needs.
• Potentially Higher Premiums: Even with the substantial discounts, Allstate’s premiums can still be relatively high in comparison to other insurers. This could be a drawback for Mercedes owners looking for more cost-effective options.

#2 – Progressive: Best for Flexible Coverage

Pros

• Customizable Coverage Options for Mercedes: Progressive excels in providing highly adaptable coverage plans for Mercedes vehicles. This versatility allows policyholders to select and adjust coverage based on their unique needs, ensuring a personalized insurance experience. Access detailed insights in our guide titled, “Progressive Insurance Review & Complaints.”
• Bundling Discounts for Mercedes: Progressive grants a 20% discount for combining Mercedes insurance policies. This discount proves advantageous for those managing multiple policies, making it a cost-efficient choice.
• Strong A.M. Best Rating: With an A+ rating from A.M. Best, Progressive exhibits robust financial stability and dependability. This high rating highlights the company’s capability to deliver reliable coverage for Mercedes owners.

Cons

• Discount Cap Limitations: While Progressive offers a significant bundling discount, it may not be as extensive as those provided by some rivals. This could impact the total savings for Mercedes drivers aiming to maximize their discounts.
• Complex Policy Structures: The broad customization options offered by Progressive can sometimes result in intricate policy structures. This complexity might be challenging for some Mercedes drivers to navigate, potentially complicating the insurance process.

#3 – Farmers: Best for Discount Variety

Pros

• Diverse Discounts for Mercedes: Farmers stands out with a variety of discount opportunities for Mercedes drivers, including a 15% discount for bundling policies. This range of options provides flexibility in savings based on different insurance needs. Dive into our article called, “Farmers Insurance Review & Complaints.”
• Varied Coverage Options: Farmers offers an extensive selection of coverage plans specifically designed for Mercedes vehicles. This range helps cater to diverse requirements and preferences, ensuring drivers can find suitable protection.
• Solid A.M. Best Rating: With an A rating from A.M. Best, Farmers provides a dependable and stable insurance option. This rating reflects the company’s capability to meet its financial responsibilities, offering reassurance to Mercedes owners.

Cons

• Lower Bundling Discount: Compared to other providers, Farmers’ bundling discount of 15% is relatively modest. This may affect overall savings for Mercedes drivers who are looking for more generous discounts.
• Coverage Limitations: Although Farmers offers diverse coverage options, there may be restrictions in certain specialized areas. This could influence the comprehensiveness of coverage for some Mercedes models.

#4 – Liberty Mutual: Best for Customizable Options

Pros

• High Bundling Discount for Mercedes: Liberty Mutual provides an impressive 28% discount on bundled Mercedes insurance policies. This generous discount is ideal for those who require multiple coverages and seek substantial savings.
• Customizable Coverage: Liberty Mutual is renowned for its highly adaptable coverage options. Mercedes owners can tailor their policies to match specific needs and preferences, enhancing the relevance of their insurance protection.
• Strong A.M. Best Rating: The A rating from A.M. Best underscores Liberty Mutual’s financial strength and reliability. This high rating ensures the company is well-positioned to offer consistent and dependable coverage for Mercedes. Uncover details in our guide titled, “Liberty Mutual Insurance Review & Complaints.”

Cons

• Higher Premiums: The customizable nature of Liberty Mutual’s policies can sometimes lead to elevated premiums. This might be a consideration for Mercedes owners who are conscious of their budget.
• Limited Local Support: In some areas, Liberty Mutual might provide limited local support, which could affect service accessibility for Mercedes drivers. This limitation might impact the overall customer experience.

#5 – Nationwide: Best for Accident Forgiveness

Pros

• Accident Forgiveness for Mercedes: Nationwide offers accident forgiveness, a valuable feature for Mercedes drivers who want protection against rate increases following an accident. This benefit provides peace of mind and can be a significant advantage. Gain insights from our guide titled, “Nationwide Insurance Review & Complaints.”
• Moderate Bundling Discount: Nationwide offers a 19% discount on bundled policies, providing reasonable savings for those needing multiple coverages. This discount helps reduce overall insurance costs for Mercedes owners.
• Excellent A.M. Best Rating: With an A+ rating from A.M. Best, Nationwide displays strong financial stability and reliability. This top rating confirms the company’s ability to handle claims and deliver consistent coverage for Mercedes vehicles.

Cons

• Less Competitive Discounts: Nationwide’s bundling discount of 19% is lower compared to some competitors, which might limit the total savings for Mercedes drivers seeking maximum discounts.
• Limited Customization: The policy customization options with Nationwide may not be as extensive as those provided by other insurers. This limitation could affect the ability to tailor coverage specifically for Mercedes needs.

#6 – Auto-Owners: Best for Customer Service

Pros

• Mercedes-Focused Customer Assistance: Auto-Owners is celebrated for its superior client service, especially for Mercedes enthusiasts. Their representatives are adept at addressing the unique requirements and concerns of high-end Mercedes drivers, ensuring personalized and prompt assistance.
• Substantial Bundling Savings: Those who consolidate multiple insurance policies can benefit from a notable 12% discount. This is particularly advantageous for Mercedes owners seeking to streamline their coverage and enjoy cost reductions. To discover more about the company, visit our guide titled, “What discounts are available at Auto-Owners car insurance?“
• Elite A.M. Best Rating: With a stellar A++ rating from A.M. Best, Auto-Owners showcases remarkable financial health and dependability, giving Mercedes drivers confidence in their insurer’s long-term stability.

Cons

• Specialized Coverage Limitations: While Auto-Owners excels in customer service, it may lack a broad range of specialized coverage options tailored specifically for premium Mercedes models, which could restrict protection for certain high-end features.
• Potentially Higher Premiums: Despite the discounts, the overall insurance costs for Mercedes coverage with Auto-Owners might remain relatively elevated, possibly making it a less budget-friendly option.

#7 – State Farm: Best for Comprehensive Discounts

Pros

• Generous Mercedes Bundling Savings: State Farm’s 17% discount for bundling various policies is particularly beneficial for Mercedes owners insuring their vehicles alongside other assets. This significant discount can lead to considerable savings overall. For more information, check out our complete guide titled, “State Farm Insurance Review & Complaints.”
• Attractive Low-Mileage Reduction: State Farm rewards low-mileage drivers with a substantial discount, which benefits Mercedes owners who use their vehicles infrequently. This feature is ideal for those who drive their Mercedes sparingly and wish to lower their insurance expenses.
• Extensive Coverage Choices: State Farm provides a wide array of coverage options tailored for different Mercedes models. Whether it’s luxury sedans or high-performance vehicles, State Farm offers flexible protection to meet diverse needs.

Cons

• Discounts Compared to Competitors: Although the 17% bundling discount is appealing, it might not be as high as those provided by some other insurers, potentially limiting savings for Mercedes owners compared to alternatives.
• Higher Premiums for Certain Levels: Even with the bundling and low-mileage discounts, State Farm’s premiums for certain coverage levels could still be relatively high, which may be a drawback for those seeking more affordable insurance solutions.

#8 – The Hartford: Best for Senior Discounts

Pros

• Senior-Friendly Mercedes Savings: The Hartford offers special discounts for senior Mercedes drivers, delivering competitive rates that reflect their extensive driving experience. This makes it a compelling choice for older Mercedes owners seeking cost-effective insurance.
• Exceptional Client Support: The Hartford is renowned for its outstanding client support, which includes tailored assistance for Mercedes owners. This high level of service enhances the overall insurance experience by addressing specific needs with expertise. For further details, see our guide titled, “The Hartford Insurance Review & Complaints.”
• Solid A.M. Best Rating: With an A+ rating from A.M. Best, The Hartford ensures strong financial stability and dependability, offering Mercedes owners confidence in their insurer’s ability to handle claims and provide consistent service.

Cons

• Extent of Senior Discounts: While the Hartford’s senior discount is advantageous, it may not be as extensive as those available from other insurers, potentially limiting the savings for Mercedes drivers.
• Potential Coverage Gaps: The selection of coverage options for Mercedes models might be narrower compared to other providers, possibly affecting the thoroughness of the protection offered.

#9 – Travelers: Best for Coverage Options

Pros

• Wide-Ranging Coverage for Mercedes: Travelers excels with an extensive selection of coverage options designed for various Mercedes models, from luxury sedans to performance cars. This variety ensures that Mercedes drivers can find appropriate protection for their specific needs.
• High Bundling Discount: Travelers offers a significant 16% discount for bundling multiple policies, which can lead to substantial savings for Mercedes owners who prefer to consolidate their insurance needs.
• Outstanding A.M. Best Rating: With an A++ rating from A.M. Best, Travelers demonstrates superior financial strength and reliability, reassuring Mercedes owners of dependable coverage and support in the event of a claim. Discover more by exploring our in-depth guide titled, “Travelers Insurance Review & Complaints.”

Cons

• Discount Comparison with Peers: Although Travelers offers a generous bundling discount, it may not always be the most competitive compared to discounts from other insurers, affecting overall savings for Mercedes coverage.
• Potential Premium Costs: Despite the available discounts, premiums for Mercedes coverage with Travelers might still be on the higher side, which could be a consideration for those seeking more budget-friendly insurance options.

#10 – Erie: Best for Local Agent

Pros

• Tailored Local Agent Service for Mercedes Owners: Erie stands out for its extensive network of local agents who provide customized service and advice for Mercedes drivers. This personalized support enhances the overall insurance experience. Read our guide titled, “Erie Insurance Review & Complaints” for more information.
• Generous Bundling Discount: Erie offers a substantial 21% discount for bundling multiple policies, making it one of the most advantageous options for Mercedes owners looking to combine their coverage for maximum savings.
• Reliable A.M. Best Rating: With an A+ rating from A.M. Best, Erie provides robust financial stability and a dependable reputation, offering Mercedes owners confidence in their insurer’s ability to deliver consistent service.

Cons

• Coverage Option Limitations: The range of coverage options for Mercedes vehicles through Erie might be less comprehensive compared to other insurers, potentially impacting the extent of protection for high-end features.
• Potentially Elevated Premiums: Even with the generous bundling discount, Erie’s premiums for Mercedes coverage could still be relatively high, which may be a concern for those seeking more cost-effective insurance solutions.

Mercedes-Benz Insurance Rates: Minimum vs. Full Coverage

When it comes to insuring your Mercedes-Benz, understanding the cost of coverage is crucial. The table below provides a snapshot of monthly insurance rates across various providers, highlighting both minimum and full coverage options.

The rates for Mercedes-Benz insurance vary significantly among providers. Allstate offers competitive rates, with minimum coverage starting at $115 and full coverage at $210. Auto-Owners provides the most economical minimum coverage at $90, while Liberty Mutual has the highest full coverage rate at $215.

Other notable options include Farmers at $105 for minimum and $200 for full coverage, and Progressive at $100 for minimum and $190 for full coverage. Obtain detailed insights by reading our guide titled, “Full Coverage Car Insurance: An Expert Guide.”

Determining Auto Insurance Costs for a Mercedes-Benz

Auto insurance companies use many of the same variables to calculate your rates, including your age, gender, driving record, and the kind of car you drive. Luxury vehicles, like Mercedes-Benz, cost more to insure because they cost more to repair or replace if stolen. 

Learn more about the offerings in our guide titled, “Average Cost of Car Insurance by Age.”

Luxury auto insurance costs around $250 per month, over $100 more than the standard monthly rate. You can expect to pay around this much or more for insurance if you drive a Mercedes.

Other factors that affect Mercedes auto insurance rates include:

• The Model of the Vehicle: Convertibles cost more than sedans and SUVs.
• The Class of the Vehicle: S-Class and G-Class rates, especially the G63 AMG insurance costs, are among the most expensive of the models.
• Where You Park the Vehicle: If you don’t have a garage or live in a city with high auto theft rates, you will pay more for insurance.

However, if your Mercedes is over 20 years old, you may qualify for classic auto insurance. Auto insurance for classic cars provides coverage that protects the vehicle’s true value, but it may not allow for everyday use. Find out if your old car is considered classic and compare rates from multiple companies for collector car insurance before buying a policy.

Car Insurance for a Mercedes

Is Mercedes-Benz insurance expensive? When compared to the national average, Mercedes-Benz insurance costs anywhere between $20 and $100 more per month. 

If you drive a Mercedes, you will likely pay between $180-$250 or more for auto insurance coverage based on your ZIP code and individual factors.

How much you pay for Mercedes auto insurance will also depend on the model you drive and the age of the vehicle. For example, the Mercedes S-Class models come with the highest monthly rates for full coverage, around $40 more per month than the other models.

Read the article called “Compare Car Insurance” for additional insights.

This is why it’s important to compare auto insurance rates by vehicle. The Mercedes-Benz S450 and SL450 have the highest average rates, at $201 and $194, respectively. The cheapest Mercedes to insure is the E300 at $160 per month.

Mercedes-Benz C-Class Car Insurance Rates

Mercedes-Benz C-Class insurance costs are cheaper than other Mercedes models at only $165 per month. Other C-Class models also come with affordable rates, with monthly Mercedes-Benz CLA-Class insurance quotes averaging between $150 and $178. 

However, through PRNewswire, Mercedes announced that it will stop producing some of the current C-Class models in favor of a hybrid engine model, with more electric vehicles planned for 2025 and onwards.  

If you drive a C-Class, you will still be able to buy auto insurance coverage, but you may have a hard time finding replacement parts if you damage your vehicle. 

Mercedes-Benz E-Class Car Insurance Rates

The Mercedes-Benz E-Class vehicles have some of the lowest insurance rates due to their lower MSRP. For example, the Mercedes E300 car insurance rates are around $10,000 more than the C300 and enjoys the same low insurance rates. 

Insurance for a Mercedes-Benz E300 costs around $160 per month, which is on par with the national average for auto insurance.

Mercedes-Benz G-Class Car Insurance Rates

Mercedes-Benz G-class car insurance quotes are generally higher than average, including the GLA250, GLE300, and GLC300. 

When comparing the best car insurance for a Mercedes GLE350, you might initially see lower rates if you drive an older model. However, new cars come with higher insurance rates, and quotes for a brand-new Mercedes-Benz may be double what you normally pay. 

Mercedes-Benz S-Class Car Insurance Rates

As the sportiest trim and often sold as a soft-top convertible, Mercedes-Benz S-Class vehicles have the highest insurance costs on average. 

For example, rates for the Mercedes S450 are over $200 per month, while insurance for the SLC300 — a hard-top convertible — is a little cheaper at $178 per month.

Understanding Your Coverage Options

As a Mercedes-Benz owner, you have exclusive access to the Mercedes-Benz Financial Services (MBFS) program. It offers insurance coverage and financial services to Mercedes-Benz owners and retailers. MBFS will also help you find local Mercedes-Benz dealerships and leasing opportunities.

It’s not possible to compare MBFS insurance quotes online without first being a member, but you can call customer service at 1-800-654-6222 to learn more. 

Be aware that MBFS is very competitive and does not offer insurance to high-risk drivers. Drivers will also not qualify for an auto loan through MBFS without a credit score of 700 or above.

Access detailed insights in our guide titled, “Best Car Insurance Company for Drivers With Accidents.”

Strategies for Reducing Costs on Mercedes-Benz Insurance

Mercedes-Benz is not among the cheapest cars to insure, but you can still lock in affordable rates when you shop around and compare multiple companies and coverage options. 

Follow these tips to find cheap insurance for a Mercedes-Benz:

• Sign up for Usage-Based Insurance Program: Telematics insurance tracks your habits and offers lower rates to safe drivers who drive less than 10,000 miles per year.
• Install Additional Safety Features: Installing GPS tracking or carving the VIN into the window can lower your monthly Mercedes insurance rates.
• Park in a Garage: Parking your Mercedes in a garage or safe area will protect it from damage and theft, which lowers your insurance rates.
• Ask for Discounts: Safe drivers qualify for the most savings, but you can also earn discounts through your employer and by bundling multiple policies with one company.

Discounts and eligibility will vary by company, so check out our guide to car insurance discounts to see where you qualify for the most savings.

Finding Cheap Car Insurance for a Mercedes-Benz

It’s not impossible to find affordable Mercedes-Benz auto insurance — you can get cheap rates by comparison shopping now with our free quote tool below. 

However, your rates will be higher than the national average because Mercedes is considered a luxury vehicle. Luxury cars are more expensive to replace, and insurance companies charge higher monthly rates to make up for the increased risk. For more information, read our “Best Car Insurance for Luxury Cars“.

Remember, personal factors like your driving record and claims history can also raise your rates. You can buy cheap Mercedes auto insurance if you’re a safe driver who avoids accidents and speeding tickets.

By entering your ZIP code below, you can get instant car insurance quotes from top providers.