Recent survey shows Beamer drivers pay premiums an average of 25 percent higher.
A recent survey that compared premiums among luxury vehicles has shown that BMW insurance is, on average, 25 percent higher than coverage for Mercedes-Benz cars.
A Bloomberg report showed that these two auto manufacturers are close competitors within the marketplace for luxury vehicles, holding the top two positions above the Lexus branch of Toyota. Though there were more sales from Mercedes in the first quarter of 2012, May showed that there was a slight lead for purchases of Beamers.
The study also looked into the specific cost disparities between comparable luxury midsize vehicles from the two manufacturers.
It compared the BMW insurance for the 3 series vehicles, and the premiums for the C-Class cars from Mercedes. Although their Insurance Institute for Highway Safety (IIHS) safety ratings were quite close, it cost an average of $997.63 per year for a C-Class, but it was $1067.06 per year for a 3 series.
Among the factors that could be behind this disparity in premiums between these two brands is that there is a 26 percent higher average price paid for the 3 Series vehicles when compared to the average cost of a C-Class.
These insurance questions have come to reveal a notable amount of comparison data. Particularly, they have shown that within today’s economy, an annual premiums savings of around 25 percent could end up having a notable impact on the financial decisions that are made by consumers who are shopping for this type of luxury vehicle.
In the report that detailed the findings of this recent study, the organization that conducted the research identified a number of ways in which those looking to purchase luxury cars can still reduce their BMW insurance so that it is closer to what the driver of a comparable Mercedes vehicle would pay. For example, buying a model that has a safety rating that is superior to its Mercedes counterpart, and choosing lower engine performance is one very important way for drivers to be able to enjoy their favorite brand, but without having to face significantly higher costs for coverage.