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Mercedes-Benz auto insurance: what you need to know.

The German automotive brand Mercedes-Benz is best known for its luxury SUVs, coupes, sedans and convertibles. With over 85 models to choose from, would-be owners have plenty of options when it comes to choosing a car that best fits their lifestyle.

If you’re in the market for a Mercedes-Benz, you’ll need to budget for more than just its price tag. To make sure car insurance for a Mercedes-Benz doesn’t drain your wallet, you’ll want to shop around for the best Mercedes-Benz insurance in Canada.

At LowestRates.ca, we can help. We work with the top auto insurance providers in Canada to make sure you get the best deal possible. Using our comparison tool, you can start comparing rates to discover Mercedes-Benz car insurance prices right now. Just type in your postal code and click “Get Started.”

Keep reading to learn more about vehicle insurance for a Mercedes-Benz.

How much is insurance for a Mercedes-Benz?

Mercedes-Benz insurance coverage will vary from province to province. In British Columbia, Saskatchewan and Manitoba, for instance, the provincial government runs vehicle insurance programs. The Atlantic provinces, Alberta and Ontario, on the other hand, are run by the private system. Quebec has a combination of public and private auto insurance — the government offers personal injury insurance and private insurers control direct compensation property damage coverage.

The cost of Mercedes-Benz insurance is not just broken down by province, but by city, too. If you live in a major city with a dense population, your insurance rates are going to scale higher because there’s greater risk of vehicle theft and damage.

Aside from where you live, your driving experience and your insurance history will also determine your Mercedes-Benz car insurance rates. If you have 10+ years of experience behind the wheel, you’ll likely pay less insurance than someone fresh out of drivers ed.

Because so many factors come into play when calculating insurance rates, it’s hard to give the average cost of Mercedes-Benz insurance. It’s better to apply for quotes using LowestRates.ca’s comparison tool to get the most accurate information possible.

Estimated Premium

Front view of a car. Illustration.

See how our customers save big on auto insurance.

CustomerLocationVehicleLowest rateAverage rateSaved
Quote from September 30, 2022
Customer
Male, 25 years old
Location
ontario
Vehicle
2022 TESLA MODEL Y 75D LONG RANGE 4DR AWD
Lowest Rate
$262/mth
$3,138/yr
Average Rate
$396/mth
$4,749/yr
Saved
$134/mth
33.92%
Quote from September 30, 2022
Customer
Male, 19 years old
Location
ontario
Vehicle
2008 NISSAN ALTIMA 3.5 SE 4DR
Lowest Rate
$627/mth
$7,519/yr
Average Rate
$1,042/mth
$12,503/yr
Saved
$415/mth
39.86%

Your questions about Mercedes-Benz auto insurance rates, answered.

What is the cheapest Mercedes-Benz to insure?

The cheaper the Mercedes-Benz model, the cheaper the car insurance — in most cases, anyway. While custom trim is often what makes a car a luxury model, these features can come with a hefty price tag, making them more expensive to insure.

The make and model also make a difference. Your insurance company will use this data to make a risk assessment about your vehicle. Since new cars often use more advanced technology, they can be assessed as harder to replace. Cheap parts, alternatively, will be easier for an insurance company to cover in the case of a Mercedes-Benz insurance claim.

Use LowestRates.ca to compare quotes online for Mercedes-Benz insurance.

Used vs. new Mercedes-Benz: which is cheaper to insure?

If you’re looking to keep costs down when it comes to car insurance, consider a used Mercedes-Benz. It’s usually cheaper to ensure a used car than it is a new car.

Insurance policies for a new Mercedes-Benz also sometimes wind up more costly because comprehensive and collision insurance are usually recommended. These add-ons help cover costs in the case of an accident, theft, weather damage, or other occurrences that can tarnish a vehicle. Leased cars usually require comprehensive and collision coverage, as well. Cars that are five years or older, on the other hand, are considered used and don’t typically require those extra expenses.

Of course, new cars come with their own perks, such as a modern design and more advanced technology. They also sometimes function better because they waste less fuel and come with a warranty.

If you are looking to pick up a used car, though, Mercedes-Benz offers their own certified pre-owned vehicles that have to pass an engine test, appearance standards, an on-road evaluation and more.

What is the best car insurance for a Mercedes-Benz?

If you’re on the lookout for the best car insurance rates for a Mercedes-Benz, you’ve come to the right place. Since there’s no single insurance provider that’s best for a Mercedes-Benz, or any make for that matter, it’s best to compare quotes for Mercedes-Benz insurance through our online platform. Or, alternatively, you can reach out to a broker for Mercedes-Benz insurance.

While lenders typically want to know the make and model of a car, they also take into consideration personal information about the driver, such as driving history, location, age and more.

Underwriting standards will also come into play in the decision making process. Each lender has its own approach to underwriting and it’s not always made perfectly clear. But, this will influence the rate the lender offers.

How are auto insurance quotes for Mercedes-Benz calculated?

When calculating your Mercedes-Benz insurance, lenders review a wide range of criteria. Here are some factors they consider:

Location: Each province and territory has its own rules when it comes to auto insurance. Some provinces have public, government-run insurance, while others have private insurance options. Quebec has a hybrid of both public and private insurance.

Lenders also look at the city or town where you’ll spend most of your time on the road. Rural areas can sometimes be cheaper because there are less instances of collision and theft.

Age: Lenders measure experience by the years an applicant has been driving. For young drivers, Mercedes-Benz insurance is typically higher because it’s hard to predict how well a new driver is going to fare on the road. As you get older in years, and your driving expertise grows, lenders will usually lower insurance costs.

History: If you want the lowest insurance possible, keep a clean driving record. Once you’ve got a few spots on your driving record, your insurance will start climbing upwards.

Customer Loyalty: All companies want repeat customers and that includes insurance lenders. When it comes to insurance renewals for Mercedes-Benz, you’ll likely get a lower deal than you did the first time around.

Underwriting: Each insurance company has its own underwriting process. It’s basically how a lender assesses the risk they’ll take when insuring your vehicle. The higher the risk, the higher the insurance.

Is it safe to buy Mercedes-Benz insurance online?

Yes, it’s totally safe to buy car insurance online. We’ve helped Canadians save millions on their insurance costs. Get a quote for car insurance on LowestRates.ca and start saving today.

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