Mercury Insurance review 2022
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Policyholders who live in a state where Mercury is available and value specialized coverage and in-person service over self-service through online capabilities might consider Mercury as their company of choice.
- Competitive rideshare coverage
- Lower average premiums
- Strong local agent network
- Robust online resources and a mobile app
- Only available in 11 states
- No life insurance product
- Higher NAIC complaints
- No online claim filing option
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 average annual full coverage premium||National average full coverage premium|
|Clean driving history||$1,558||$1,225|
|Adding a 16-year-old 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:
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
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|
Mercury home insurance discounts
In addition to low homeowners insurance premiums, Mercury Insurance offers home insurance discounts. A few of these are:
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.
Not sure if Mercury is right for you? Consider these alternatives
It’s important to consider shopping with a few insurance companies before deciding who should earn your business. If you’re not sure about Mercury, consider these options:
- Safeco: Safeco Insurance offers many policy options and discounts for its policyholders. Like Mercury, tech-savvy policyholders may enjoy Safeco’s online capabilities. However, unlike Mercury, Safeco offers nationwide coverage.
- Progressive: Similar to Mercury, Progressive also offers a usage-based telematics device that may earn additional savings for policyholders who practice safe driving behaviors.
- Geico: Geico is known for offering lower-than-average rates. When shopping for a new policy, policyholders looking for cheaper car insurance may want to consider Geico.
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.