Founded in 1961, Mercury believes in providing quality insurance coverage at affordable prices. The company sells auto, home, condo, renters and business insurance, in addition to mechanical breakdown insurance. The company sells its insurance products in 10 states through a network of over 9,400 agents. Mercury sells full coverage car insurance for an average annual rate of $1,558, so if you like working with a live agent and are looking for basic insurance coverage at a competitive price, this company could be a good option.
Bankrate’s team of insurance editors and writers reviewed the California-based insurance company. We analyzed Mercury’s product lines, researched its coverages, discounts and prices and rounded up its third-party ratings. This information may help you decide if Mercury is the right fit for your insurance needs.
Mercury car insurance
Mercury’s car insurance is relatively basic, offering mostly standard coverage options and a few helpful endorsements. Understanding Mercury’s car insurance coverages, average rates and discounts might help you decide if you should get a quote from the company.
Types of coverage
Mercury offers relatively standard car insurance coverage options, including:
- Liability protection: Liability coverage pays for the injuries and damages you cause to others in an at-fault accident.
- Collision protection: This covers damage to your vehicle incurred as a result of a covered collison, regardless of fault.
- Comprehensive coverage: This covers damage to your vehicle incurred as a result of numerous scenarios, including hitting an animal, theft and storm damage.
- Medical payments coverage: This coverage is designed to pay for medical expenses as a result of a covered accident, regardless of fault. Medical payments coverage is not available in all states.
- Personal injury protection: Also known as PIP, this coverage is designed to pay for medical costs and other expenses as a result of a covered accident, regardless of fault. PIP is not available in all states.
- Rental car coverage: Rental car coverage helps cover the cost of a rental car after a covered loss.
- Ride-hailing insurance: Depending on the state you live in, this option can cover you when you have your ridesharing app on but have not yet accepted a customer.
- Roadside assistance: This option covers towing, flat tire change, battery jump start, emergency fuel and fluid delivery and locksmith services.
- Uninsured motorist and underinsured motorist: These coverages cover bodily injury if you are hit by a driver with no coverage or without enough coverage to pay for your expenses. Depending on the state you live in, you may also be able to purchase uninsured motorist property damage coverage, which covers damage to your car and other property if it is damaged by an uninsured driver.
Cost of Mercury car insurance
When compared to the national average cost of car insurance, Mercury’s average rates are slightly lower. Minimum coverage with Mercury costs an average of $553 per year, compared to the national average annual premium of $565. Similarly, Mercury’s full coverage costs $1,558 per year, on average, whereas the national average full coverage premium is $1,674 per year.
However, auto insurance companies base rates on numerous factors. The price you pay could be more or less than these averages.
|Average annual premium for minimum coverage||Average annual premium for full coverage|
In addition to its slightly below-average rates, Mercury Insurance has a list of discounts available to maximize your savings:
- Anti-theft feature
- Auto pay
- Good driver
- Good student
- Pay in full
Not all these discounts are available in all 10 states where Mercury operates. A local Mercury agent can help you determine which discounts you may qualify for, or you can fill out a quote form online and receive your discounts automatically.
Mercury home insurance
Mercury offers basic home insurance policies with only a few options for customization. However, if budget is your primary concern, this carrier could be a good choice for home insurance.
Types of coverage
Mercury’s home insurance coverages include:
- Dwelling protection: This standard home insurance coverage covers the structure of your home from covered perils.
- Personal property: This standard coverage is for your personal belongings, like your furniture, clothing and some electronics.
- Extended replacement cost: This optional feature provides 150% of your home’s dwelling coverage, which provides extra protection if your home is severely damaged.
- Additional living expenses: If you are displaced due to a covered loss, this coverage could pay for your hotel or temporary rent, food and pet boarding.
- Personal liability protection: Liability coverage pays if you are found to be negligent for a guest’s injuries or for damage to someone else’s property.
- Guest medical protection: This coverage pays for injuries to guests regardless of fault.
- Identity theft protection: If your identity is stolen, having this coverage on your home insurance could help you pay restoration fees.
- Additional personal property coverage: You may want to consider additional personal property coverage if you have expensive items like fine art, jewelry or antiques.
- Home systems protection: This optional coverage is designed to help pay for breakdowns in your home’s appliance or mechanical systems.
- Home cyber protection: This endorsement could help you pay for the restoration of lost data, ransomware fees and online fraud.
Like with Mercury’s auto insurance, some coverages may not be available in your state.
Cost of Mercury home insurance
Mercury’s average annual home insurance premium is $614 for $250,000 in dwelling coverage. This is far lower than the national average cost of homeowners insurance, which is $1,312 per year for the same coverage. The low average premium could be due in part to the sparse nature of Mercury’s coverages. Many home insurance companies offer more optional coverages than Mercury. Adding optional coverages generally increases your premium, so having fewer endorsements could contribute to lower average premiums.
To help save you money on your homeowners insurance premiums, Mercury Insurance offers a selection of discounts:
- AUTO + HOME discount
- Protective devices discount
- Fire-resistant construction materials
- Newer home
- Gated community
Talking to your agent or going through the quote process might be the best way to identify the discounts you qualify for.
Mercury ratings, reviews, customer satisfaction and complaints
As established company, Mercury is rated by several third-party companies. Third-party rankings can help you get an overall view of a company’s financial strength and customer satisfaction. The following table shows the most recent Mercury insurance rating from prominent independent rating organizations:
|AM Best||Standard and Poor’s||J.D. Power|
|Mercury Auto Insurance||A||A||849|
|Mercury Home Insurance||A||A||No rating|
The Mercury auto insurance review on the website boasts a 4.7 star rating for customer satisfaction. Reviews suggest that their rates are competitive and the level of service was personal. However, Mercury was rated well below the industry average for claims satisfaction from J.D. Power. Additionally, the company received an above-average complaint index score from the National Association of Insurance Commissioners (NAIC). A score of 1.00 represents a baseline, standard number of complaints. Mercury’s score is 2.90, meaning that the NAIC records nearly three times the average number of complaints about Mercury as it does about other companies.
When it comes to financial strength, Mercury is a relatively strong company. High financial strength ratings indicate that a company is likely to be able to pay out claims, even in situations where a large influx of losses happens at once.
Reasons why Mercury is a great option
Mercury insurance could be a great option for you if you are looking for relatively basic insurance products at a competitive price. While the company does offer a few optional coverages for both its home and auto policies, the options are far more limited than many other carriers.
However, Mercury may not be the best choice if customer service is a priority for you. In addition to being rated below-industry-average by J.D. Power for claims satisfaction, the NAIC complaint index score could mean that many customers are not satisfied with Mercury’s customer satisfaction.
Additional policies offered by Mercury
Mercury Insurance doesn’t just offer car and home insurance. In addition to basic home and car coverage, Mercury also offers:
- Business auto insurance
- Business owners insurance
- Condo insurance
- Renters insurance
- Landlord insurance
- Mechanical protection
- Umbrella insurance
While you can get quotes online, talking with a local Mercury agent could be the best way to find out if Mercury can handle your insurance needs.
Frequently asked questions
What is the best insurance company?
There is no single best insurance company for everyone, because everyone’s needs and wants are different. One of the best ways to determine if a company is a good fit for you is to first make a list of what you need and want out of a company. Then you can get quotes from several carriers to determine which one best suits your situation.
What information is needed in order to get a quote from Mercury?
It depends on the type of quote you need. In general, you will need your name, date of birth, driver’s license number and Social Security number. If you are getting an auto insurance quote, you will also need the personal information for the other drivers in your household as well as the vehicle identification numbers (VINs) of each of your vehicles. If you are getting a home insurance quote, you will need some information about your home, like the year it was built and how old your roof is.
How do I file a claim with Mercury?
If you need to file a claim with Mercury, you can call your local agent or you can call Mercury directly at 1-800-503-3724. Mercury does not offer online claim filing. You will need your name, policy number and details about your claim.
How can I get lower rates with Mercury?
Taking advantage of as many discounts as possible could help you lower your auto or home insurance premium with Mercury. Additionally, if you increase your deductible, you will likely see your rate decrease. Your deductible is the amount you will pay out of pocket if you file a claim. You will likely want to choose a deductible that you can reasonably afford to pay so that you are not financially stressed if you do file a claim.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Bodily injury liability per person: $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.