Car insurance resource Automobile.com released the findings of a recent survey comparing the annual insurance premiums for BMW and Mercedes-Benz vehicles. The study concluded BMW models cost 25% more to insure annually than Mercedes vehicles.
Bloomberg reports that Mercedes and BMW are close competitors in the luxury auto market, occupying the top two sales spots ahead of Toyota’s Lexus arm. While Mercedes led in sales during the first quarter, BMW had a slight sales advantage last month.
The survey also examined the insurance cost disparity between the BMW 3 Series and the Mercedes-Benz C-Class luxury midsize offerings. Although the two lineups rank closely in safety ratings according to the Insurance Institute for Highway Safety (IIHS), the C-Class is cheaper to insure annually than the 3 Series at $997.63 and $1067.06, respectively. One aspect that could influence the cost disparity between the two lines is the fact that the average price paid for the 3 Series is approximately 26% higher than the C-Class, according to Automobile.com columnist Andrew Evans.
“We have seen some interesting comparison data come out of these insurance studies,” Evans said. “In this current economic climate, a potential savings in the ball park of twenty-five percent on insurance premiums each year can have an especially large impact on financial decisions.”
In the article outlining the results of the recent study, Automobile.com lays out specific measures BMW drivers can take to lower premiums closer to the Mercedes average. Buying a particular model with a superior safety rating and compromising on engine performance are two ways Evans says drivers can maximize insurance policy savings.
“We didn’t want to just put the results of the survey out there without offering our readers some strategies to reduce insurance costs,” Evans said. “After all, the main goal behind our site is to save drivers money on car insurance.”