- The average Mercedes ML550 car insurance cost is $1,348 per year, or $112 per month for full coverage.
- Out of 21 other midsize luxury SUVs for the 2014 model year, the ML550 ranks #12 for insurance cost.
How much does Mercedes ML550 car insurance cost?
Average car insurance rates for the Mercedes ML550 cost $1,348 a year for a full coverage policy, which is equal to $112 a month. Collision insurance will cost about $590 a year, liability/medical costs around $450, and the remaining comprehensive coverage is around $308.
The following rate chart demonstrates how the average cost to insure a Mercedes-Benz ML550 changes based on the age of the driver and comprehensive and collision deductibles.
The following table shows average Mercedes-Benz ML550 car insurance rates for the 2008-2014 model years and for various driver ages. Rates include full coverage, which means comprehensive and collision insurance is included in each rate.
| Model Year | Driver Age 20 | Age 30 | Age 40 | Age 50 | Age 60 |
|---|---|---|---|---|---|
| 2014 | $2,686 | $1,418 | $1,348 | $1,232 | $1,208 |
| 2013 | $2,670 | $1,400 | $1,342 | $1,224 | $1,202 |
| 2012 | $2,617 | $1,372 | $1,315 | $1,200 | $1,178 |
| 2011 | $2,564 | $1,345 | $1,289 | $1,176 | $1,154 |
| 2010 | $2,513 | $1,318 | $1,263 | $1,152 | $1,131 |
| 2009 | $2,463 | $1,291 | $1,238 | $1,129 | $1,109 |
| 2008 | $2,413 | $1,265 | $1,213 | $1,106 | $1,087 |
Is ML550 car insurance expensive?
The Mercedes-Benz ML550 ranks #12 out of 21 total vehicles in the 2014 midsize luxury SUV segment for car insurance affordability. The ML550 costs an average of $1,348 per year for a car insurance policy with full coverage, while the category average insurance cost is $1,363 per year, a difference of only $15 per year.
When compared to other 2014 model year luxury models, insurance rates for a Mercedes-Benz ML550 cost $156 more per year than the Lexus RX 350, $402 less than the BMW X5, and $160 more than the Acura MDX.
The table below shows how insurance rates for a Mercedes ML550 compare to other luxury models like the Lexus GX 460, Infiniti QX60, and the Audi Q7. Rates are for the 2014 model year.
| Rank | Make/Model | Insurance Cost | Difference |
|---|---|---|---|
| 1 | Lincoln MKX | $1,026 | -$322 |
| 2 | Infiniti QX50 | $1,146 | -$202 |
| 3 | Volvo XC70 | $1,184 | -$164 |
| 4 | Acura MDX | $1,188 | -$160 |
| 5 | Lexus RX 350 | $1,192 | -$156 |
| 6 | Lincoln MKT | $1,238 | -$110 |
| 7 | Cadillac SRX | $1,246 | -$102 |
| 8 | Land Rover LR2 | $1,274 | -$74 |
| 9 | Infiniti QX60 | $1,330 | -$18 |
| 10 | Mercedes-Benz GL350 | $1,334 | -$14 |
| 11 | Lexus RX 450 | $1,346 | -$2 |
| 12 | Mercedes-Benz ML550 | $1,348 | -- |
| 13 | Lexus GX 460 | $1,354 | $6 |
| 14 | Audi Q7 | $1,460 | $112 |
| 15 | Mercedes-Benz GLK350 | $1,474 | $126 |
| 16 | Mercedes-Benz GL450 | $1,476 | $128 |
| 17 | Audi SQ5 | $1,476 | $128 |
| 18 | Mercedes-Benz ML350 | $1,482 | $134 |
| 19 | Porsche Cayenne | $1,630 | $282 |
| 20 | BMW X6 | $1,660 | $312 |
| 21 | BMW X5 | $1,750 | $402 |
Additional rates and savings tips
The list below offers some additional rates for factors like good versus poor credit, teenage drivers, and policy deductible comparisons.
- Better credit scores yield better car insurance rates. Drivers who maintain a credit score over 800 could save $212 per year over a credit rating of 670-739. Conversely, poor credit could cost up to $245 more per year.
- The cost to insure teen drivers is expensive. Average rates for full coverage ML550 insurance costs $4,892 per year for a 16-year-old driver, $4,564 per year for a 17-year-old driver, $4,256 per year for a 18-year-old driver, and $3,844 per year for a 19-year-old driver.
- Save money by qualifying for policy discounts. Discounts may be available if the insured drivers insure their home and car with the same company, are homeowners, drive low annual mileage, take a defensive driving course, drive a vehicle with safety or anti-theft features, or many other policy discounts which could save the average driver as much as $228 per year.
- Fewer accidents means cheaper ML550 insurance rates. Having a few at-fault accidents can really raise rates, potentially by an extra $630 per year for a 30-year-old driver and even $442 per year for a 50-year-old driver.
- Raising deductibles makes insurance more affordable. Boosting your deductibles from $500 to $1,000 could save around $204 per year for a 40-year-old driver and $400 per year for a 20-year-old driver.
- Choosing a low deductible may not make good financial sense. Lowering your policy deductibles from $500 to $250 could cost an additional $212 per year for a 40-year-old driver and $422 per year for a 20-year-old driver.
