Mercedes-Benz EQB 350 Insurance Cost – 2023 Rates and Rankings

• Mercedes-Benz EQB 350 insurance rates average $2,052 per year or $1,026 for a semi-annual policy, but can vary a lot based on the policy limits.
• The 2023 Mercedes-Benz EQB 350 is one of the more expensive small luxury SUVs to insure, costing $92 more per year on average as compared to the rest of the vehicles in the segment.
• The cheapest EQB 350 trim to insure is the 4Matic Premium SUV trim level at an estimated $2,034 per year.
• The EQB 350 4Matic Pinnacle SUV is the most expensive to insure at $2,072 per year.

How much does Mercedes-Benz EQB 350 insurance cost?

Drivers should budget around $2,052 per year for a full coverage policy to insure a Mercedes-Benz EQB 350, or around $171 a month.

Rates vary considerably depending on your age, location, driving record, and other factors, and the chart below shows average car insurance cost for an EQB 350 using a range of policy scenarios.

Insurance rates also depend on the exact EQB 350 model that you’re insuring. As with most other vehicles, the more a trim level costs, generally the higher the insurance cost will be as well.

The next table demonstrates this, as it breaks down the range of rates for a 2023 model year EQB 300 by trim level.

Additional factors that affect insurance cost

Car insurance rates consist of a complex formula with many inputs that can either raise or lower the final policy price. The list below details some additional factors that impact the cost of insurance on an EQB 350.

• Good credit can save money. Having an over-800 credit score may save $322 per year compared to a credit rating between 670-739. Conversely, a poor credit score could cost as much as $373 more per year.
• As driver age increases, insurance rates tend to go down. The difference in 2023 Mercedes-Benz EQB 350 insurance cost between a 50-year-old driver ($1,870 per year) and a 30-year-old driver ($2,168 per year) is $298, or a savings of 14.8%.
• Bad drivers pay more. At-fault accidents raise insurance rates, possibly by an extra $2,884 per year for a 20-year-old driver and as much as $622 per year for a 60-year-old driver.
• Mercedes-Benz EQB 350 insurance for teen drivers is expensive. Average rates for full coverage EQB 350 insurance costs $7,302 per year for a 16-year-old driver, $6,852 per year for a 17-year-old driver, $6,410 per year for an 18-year-old driver, and $5,818 per year for a 19-year-old driver.
• Raising deductibles results in a cheaper policy. Raising the comprehensive and collision deductibles from $500 to $1,000 could save around $332 per year for a 40-year-old driver and $652 per year for a 20-year-old driver.
• Low physical damage deductibles increases cost. Decreasing your policy deductibles from $500 to $250 could cost an additional $348 per year for a 40-year-old driver and $692 per year for a 20-year-old driver.

How does EQB 350 insurance cost compare?

The Mercedes-Benz EQB 350 ranks 29^th out of 37 total comparison vehicles in the small luxury SUV category for car insurance affordability. The EQB 350 costs an average of $2,052 per year for insurance and the segment average insurance cost is $1,960 annually, a difference of $92 more per year.

When compared side-by-side to some other models in the small luxury SUV category, insurance prices for a Mercedes-Benz EQB 350 cost $208 more per year than the Mercedes-Benz GLC300, $80 less than the BMW X3, and $10 more than the Audi Q5.

The table below shows how average EQB 350 car insurance cost compares to all other compact luxury SUV models for the 2023 model year.