Mercedes Car Insurance

3 minutes can save you hundreds. Enter your postal code below and join thousands of Canadians saving on insurance.

Secure. No Spam. No Fees.

Why You Can Trust MyChoice

MyChoice serves as an independent intermediary between you, financial institutions and licensed professionals without any additional charge to our users. In the interest of transparency, we disclose that we partner with some of the providers we write about – we also list many financial services without any financial gain. MyChoice does not operate a financial institution or brokerage and to ensure accuracy, our content is reviewed by licensed professionals. Our unique position means that we hold no recurring stake in your policy, ensuring our mission to help Canadians make better financial decisions is free of bias or discrimination. 

Article Contents
Picture of By <span>Aren Mirzaian</span>
By Aren Mirzaian

Updated on July 19, 2023

Visit author page
Picture of By <span>Aren Mirzaian</span>
By Aren Mirzaian

Updated July 19, 2023

Visit author page

2 minute read

Article Contents

Mercedes Benz: Offering Luxury, Safety, and Style

Mercedes Benz is one of the oldest car manufacturers with the company being known for producing high-quality vehicles that combine performance, luxury, and comfort. It does generally cost more to insure a Mercedes Benz, as with all luxury vehicles, but value can be found while insuring a Mercedes Benz due to them being very safe.

History of Mercedes Benz

Mercedes Benz was founded by Karl Benz in 1886 with his creation being considered the first gasoline-powered vehicle. Soon after that Mercedes Benz quickly became a pillar of the European luxury car market with the company being known for innovative designs and quality manufacturing practices.

How Much Does It Cost to Insure a Mercedes?

The overall cost of insuring a Mercedes Benz is higher than the average car.

However, Mercedes Benz drivers have the ability to potentially save hundreds on their insurance premiums by carefully shopping for insurance. Here at MyChoice, we make it easy to compare insurance quotes from all major companies.

The first step towards saving on insurance is to have an idea of the average cost of insuring a Mercedes Benz which varies widely from city to city, for example in Vaughan the average insurance for a Mercedes is $1,987 annually. Whereas some of the lowest rates can be found in places like Quebec City which is $562 annually.

This huge range in average insurance rates demonstrates how important it is to shop around for cheap insurance.

How Does Mercedes Compare to Other Luxury Vehicles

Mercedes Benz generally has average insurance rates when compared to other luxury vehicles with many of their models having slightly lower than average rates. Mercedes Benz produces a large number of four-door sedans, and these vehicles tend to appeal to safer drivers.

Mercedes Benz also produces SUVs, wagons, crossovers, and minivans. These vehicles also tend to have below-average insurance rates.

Some notable Mercedes Benz vehicles include the GL 320, GL 350, GLK 250, GLK 350, ML 320 and ML 350.

Mercedes Can Be Typically Expensive to Insure

Mercedes Benz tends to have higher insurance rates due to them being an imported vehicle into Canada.

On record, the most expensive Mercedes Benz following a claim is the 2008 S450V which was 336% times the cost of repairing your average vehicle. The same vehicle sees an ever higher claims rate when looking at comprehensive coverage which was at 397% times the cost of an average vehicles comprehensive insurance claim.

How To Save On Insurance For A Mercedes Benz

Because luxury vehicles cost so much to insure it is possible to find massive savings in a Mercedes Benz policy.

Look For Discounts

Insurance companies provide a large number of discounts, and you can talk to your insurance broker about what discounts are available to you. Generally, you can get a discount for being retired, using snow tires, having an anti-theft device, having a private parking spot, and going a period of time without a claim.

Increasing Your Deductible

Increasing your deductible is a simple way to reduce your premiums. Most drivers will not file a claim for small damages, so having a low deductible really does not matter. This is especially true for a luxury vehicle where the increased premiums from filing a claim will almost always be higher than the out-of-pocket cost of minor repairs.

Mercedes Exceptional Safety Rating

An important part of understanding how a car manufacturer affects insurance rates is how they perform in terms of safety.

Mercedes Benz is considered one of the safest manufacturers with the company long being at the forefront of car safety. Mercedes Benz vehicles generally have advanced airbag systems, computerized braking, and advanced crumple zones.

The National Highway Traffic Safety Administration gives Mercedes Benz vehicles a mixture of five and four and of five-star ratings.

The safety of Mercedes Benz vehicles helps to keep their insurance costs low in comparison to other luxury vehicles.

Choose The Best Insurance For Your Mercedes By Using MyChoice

Given the high cost of insuring luxury vehicles like a Mercedes, it can be possible to save hundreds of dollars with MyChoice by shopping around for the best insurance quotes. Getting started is easy as we will provide you with a list of the best insurance quotes for your Mercedes – that are tailored specifically to suit you.

Congratulations! You made it to the end!

Now, here is the easy part: complete your quote in under 2 minutes

Discover More About

Getting your car impounded is frustrating and even worse if you don’t know what you’re doing. Click through for a guide to releasing your impounded car in Canada.
Misconceptions about insurance make it harder for drivers to find the best deals. Click through to learn the truth about today’s most common car insurance myths.
The Alberta government has announced a comprehensive reform of the auto insurance system, set to take effect in 2024. Read on to learn more.

Even More Ways To Save