This question is directed to owners not leasers. I was wondering what limits you people are carrying on your C230s.

I know it's not a super expensive car, but at the same time, if you get into an accident and they see a 3 pointed star, they'll think you have alot of money. I was thinking 50K\100K with a $500 deductible. Is that sufficient?

I know I'll have to factor that cost in my purchase. If you just let me know your limits and deductibles that would be great. Thanks.

 

The appropriate level of coverage depends on each individual's particular circumstances. A person that is found liable for more than their coverage limitations is still financially responsible for the excess. If someone has assets to protect (a house, stocks, cash, etc.), then a high coverage amount is advised. If a person has no assets, then a huge insurance policy isn't as important. My limits are 300/300, and I have a $1M umbrella. (I'm also risk-averse to a fault.) The difference in cost between limited coverage and extensive coverage often isn't as much as you might think (depending on driving record, residence, etc.).

 

My asset levels are low and I don't speed at all. Hmmm.....that may change once I hear that supercharger. Power is addicting.

 

In my situation (up and comer) without a large amount of assets to protect, I went 50/100 with 500 comp and 1000 collision deductables. I'm a single male under 30 with one ticket, all those are knocks against me, meaning that I didn't get what I would consider a very good rate, and I'm keeping my MR2 insured as well so I went admittedly kinda budget. If you have a significant asset base - investments, own a home/condo, I would suggest 100/300, and maybe consider going to the 1000 deductable or split them as I did for a minimal hike to save some there.

C230K/6speed/orion blue/C7/changer - Is finally here (actually on schedule but that wait was sure painful). Test drove today, pick up this Friday!!!!!!!

 

My dad own a insurance agency so I think i have pretty good rates. I have 100/200 coverage and i pay around 450 ever 6 months.

 

A few thoughts from an insurerer of 4 cars:

1. Price out various deductibles and see what makes sense. Sometimes it is better to "self insure" up to a higher deductible and pocket the premium difference.

2. assets or not, the umbrella policy is often a good deal. In todays world, it doesn't take much to exceed the 100k/300k limits. (Think of some kind of serious injury with lifelong disability). Even without assets, you can wind up with a judgement which saddles you with long term obligations. Remember, the purpose of the insurance is to protect you from disaster.

3. I have found the "car rental" rider to be a good value. For another $20/year, it pays for a rental when my car needs repair. It always takes longer than they estimated, and anything significant can run into weeks.

 

Being in Az insurance is expensive, I used to sell insurance in 20 states and only Maryland was more expensive overall. I carry 100/300/50 liability and am thinking of a $1m umbrella but you have to be a homeowner (which I am), you need to have a high auto policy (like 250/500k liability) as a deductable, and auto/home need to be with the same carrier...My deductables are 250/500 and I carry gap coverage since I financed about 90% of the purchase price.