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Mercury Insurance review 2022

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Founded in 1961, Mercury sells auto, home, condo, renters and business insurance, plus mechanical breakdown insurance. The company sells its insurance products in 11 states: Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia. It operates through a network of more than 9,400 agents and sells full coverage car insurance for an average annual rate of $1,558. If you like working with a live agent and are looking for insurance coverage at a competitive price, this company may be a good option to consider.

Bankrate’s editorial team reviewed Mercury’s product lines, coverage types, discounts, average annual premiums, third-party ratings and online accessibility to help you determine whether or not Mercury may be a good candidate for your insurance needs.

Perks Drawbacks
Dozens of online resources and an accessible mobile app, which tech-savvy shoppers may appreciate Only available in 11 states
Competitive rideshare coverage for Uber, Lyft and other Transportation Network Companies No life insurance product offerings
Lower-than-average premiums compared to other companies, and discounts for additional savings More complaints filed against Mercury than average for the industry, according to the National Association of Insurance Commissioners (NAIC)
High number of local agents in the states it offers coverage No online claim filing capabilities

Mercury car insurance | Bankrate Score 4.2

Bankrate’s proprietary methodology lands Mercury with a Bankrate Score of 4.2 out of 5. To reach this score, our team of insurance experts analyzed Mercury in the following categories: customer satisfaction scores from J.D. Power, financial strength ratings from S&P and AM Best, customer complaints filed with the National Association of Insurance Commissioners (NAIC), average premiums from Quadrant Information Services, available policy options, mobile app availability and online policy management accessibility. Mercury received an A (Excellent) rating for financial strength from AM Best. However, the company received higher than average complaints, according to the NAIC index, and scored below the industry average in the J.D. Power U.S. Auto Claims Satisfaction Study in 2020, the most recent year that Mercury was ranked.

If you’re a driver for Uber, Lyft, or another app-based ride service, you may be interested in Mercury’s rideshare coverage, which covers drivers for as little as $0.90 per day, according to the company’s website. Mercury may also be a top choice for low-mileage drivers who could save with RealDrive®, a low-mileage insurance program that takes 5% off your insurance just for signing up.

Mercury car insurance cost

Compared to the national average cost of car insurance, Mercury’s average rates are slightly more competitive. Minimum coverage with Mercury averages $553 per year, compared to the national average of $565 per year. Similarly, Mercury’s full coverage costs $1,558 per year, on average, which is a bit less than the national average full coverage premium of $1,674 per year.

However, auto insurance companies base your rates on numerous factors. The price you pay may be more or less than these averages depending on your individual circumstances, such as your claims history, motor vehicle record and the types of coverage you choose to include in your policy.

Mercury full coverage rates National average full coverage rates
Clean driving history $1,558 $1,674
Speeding ticket $1,933 $2,062
At-fault accident $2,548 $2,311
Adding a teen driver $2,556 $2,531

Mercury car insurance discounts

In addition to its competitive rates, Mercury Insurance offers car insurance discounts to help drivers save. Among them are a few that are particularly easy to qualify for, depending on your driving habits or vehicle features:

  • RealDrive®: RealDrive® is a program designed to help low-mileage drivers save by only basing premiums on the miles they travel. Drivers who sign up for RealDrive save 5% off their premium immediately.
  • MercuryGO: Mercury’s telematics program tracks your driving in real time and awards savings for safe practices. You could get additional discounts just for participating in the program, regardless of your driving performance.
  • Anti-theft: If your vehicle is equipped with mechanisms such as a GPS tracker or car alarm, you may qualify for the anti-theft discount.

Some of these discounts may be unavailable in certain states. A local Mercury agent can help you determine which discounts you may qualify for, or you can fill out a quote form online and see which discounts apply automatically.

Mercury car services

Mercury offers a rich collection of online resources for drivers, including tips for teen drivers, a driving quiz, a list of apps to keep teen drivers safe, tips on finance, travel, insurance and how to prepare for or deal with extreme weather. The company also authorizes certain vehicle repair facilities to help you find a high-quality repair shop near you.

Mercury home insurance | Bankrate Score 4.0

To calculate Mercury’s home insurance Bankrate Score, our insurance editorial team analyzed its J.D. Power score for customer service, NAIC complaints, AM Best and S&P scores for financial strength, average premium and mobile app accessibility. The company’s home insurance is unranked by J.D Power, but its AM Best financial strength rating speaks well of its historical ability to meet its financial obligations to policyholders. Budget-conscious shoppers may be happy to learn that the average cost of home insurance for a $250,000 dwelling at Mercury is lower than the average for the rest of the country. It offers all the standard home coverage options, along with cyber protection, home systems protection and identity theft protection.

Keep in mind that Mercury only writes policies in 11 states: Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia.

Mercury home insurance cost

Mercury’s average annual home insurance premium is $614, based on $250,000 in dwelling coverage. This is more than 50% less than the national average cost of homeowners insurance, which is $1,312 per year for the same coverage. The lower average premium could be due in part to Mercury’s limited coverage offerings. Many home insurance companies offer more optional coverage types than Mercury.

Dwelling coverage limit Mercury average annual premium National average annual premium
$150,000 $452 $898
$250,000 $614 $1,312
$350,000 $790 $1,723
$450,000 $986 $2,148

Mercury home insurance discounts

In addition to low homeowners insurance premiums, Mercury Insurance offers home insurance discounts. A few of these are:

  • Loss-free discount: If you haven’t filed a claim since three or more years before the policy effective date, you may be able to save.
  • Wildfire mitigation: The company offers wildfire mitigation discounts to homeowners who meet defensive space and home hardening requirements and to homeowners who live in a community that meets wildfire risk criteria.
  • Water leak detection discount: This discount may be available to homeowners with automatic water shut-off systems or systems that notify a third party when a leak is found.

Talking to your agent or going through the quote process might be the best way to identify the discounts you qualify for, and reviewing your policy annually may help you save for additional discounts you may qualify for later on, as well.

Mercury home services

Mercury offers helpful online resources for policyholders, including tips for homeowners during the holidays and helpful how-to articles. The company’s website also has a weather hub, which can help homeowners stay informed on natural disasters and severe weather catastrophes around the country.

Other Mercury perks worth considering

Depending on your specific insurance needs, Mercury may be the right choice for shoppers looking for:

  • Business owners insurance: This provides coverage for property, business income, and ordinance or law to protect your company from complex exposures that you may face.
  • Renters insurance: This coverage may pay out to repair or replace your possessions in the event of a covered loss. Depending on your policy, it may cover legal costs and/or medical expenses if someone gets hurt on the property you’re renting.
  • Mechanical protection: This coverage acts as an extended warranty on your vehicle and pays out to cover certain repair costs if your vehicle breaks down.
  • Umbrella insurance: Mercury’s umbrella coverage provides between $1 and $5 million in additional liability to supplement an existing home or auto policy.
  • Mobile app: Mercury’s app is rated 4.4 out of 5 on the App Store and 4 out of 5 on Google Play, which is pretty decent compared to other insurance apps. The app allows policyholders to manage their home and car insurance with ease, directly from their smartphone.

Mercury’s corporate sustainability

Mercury has helped local communities amid the COVID-19 pandemic. A group of more than 20 Mercury employees sewed masks and donated them to hospitals and police stations during the COVID-19 mask shortage. The company has partnered with the California Medical Association to support the Care 4 Caregivers Now initiative, which provides remote peer-to-peer care for healthcare workers who may need emotional and mental support during the pandemic.

Mercury sends care packages to servicemen and women overseas, builds homes in local communities, donates technology to inner-city educational programs and humanitarian relief organizations.

In addition, Mercury employees have access to the company’s wellbeing program. The program contributed to Mercury winning the 2016 Limeade Limelight Award for Engagement Leaps.

Frequently asked questions

What is the best insurance company?

There is no single best insurance company for everyone because everyone’s needs and preferences 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 as far as your budget, coverage needs, or customer experience preferences are concerned. Then you can get quotes from several carriers who fit the list 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 the age of your roof.

How do I file a claim with Mercury?

If you need to file a claim with Mercury, you can call your local agent or 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 compromised if you file a claim.

Methodology

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:

Auto:

  • 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.

Homeowners:

  • 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.

Written by
Lizzie Nealon
Insurance Writer
Lizzie Nealon is a former insurance writer for Bankrate. Her favorite part of the job is making home, auto and life insurance digestible for readers so they can prepare for the future.
Edited by
Managing Editor