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Mercury Insurance review 2024

Updated May 23, 2024
  • At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .

At a glance

4.1
Rating: 4.1 stars out of 5
Bankrate Score
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Auto

Rating: 3.8 stars out of 5

3.8

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Cost & ratings

Rating: 4.3 stars out of 5

4.3

Coverage

Rating: 2.5 stars out of 5

2.5

Support

Rating: 4.3 stars out of 5

4.3

Home

Rating: 4.3 stars out of 5

4.3

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Cost & ratings

Rating: 4.3 stars out of 5

4.3

Coverage

Rating: 3.7 stars out of 5

3.7

Support

Rating: 5 stars out of 5

5.0

About Bankrate Score

Bankrate's take

Automobile owners, homeowners and business owners who prefer a smaller insurance company may find robust coverage options with Mercury Insurance.

  • Rideshare insurance coverage is available for as low as $0.90 per day
  • Not included in any of the home specific J.D. Power studies
  • Offers a wide range of car insurance discounts
  • Coverage is limited to 11 states for auto insurance and 10 states for homeowners insurance

New

What’s new with Mercury?

Since late 2022, Mercury Insurance has introduced several new discounts and coverage options in multiple states. The new coverage options and discounts are for customers in Nevada, Oklahoma, Georgia and Virginia. New coverage options include matching of undamaged siding and roofing for homeowner policies, new green home coverage options and refrigerated food coverage.

Mercury Insurance has expanded its offerings in New Jersey, adding three innovative coverages and four new discounts designed to support environmentally conscious policyholders. This initiative follows similar updates in other states. The new options include green home coverage, which offers additional funds for eco-friendly replacements and matching of undamaged siding and roofing to maintain the aesthetic and functional consistency of homes after damage.

Additionally, Mercury has introduced discounts for homes with green certifications, renovations in mature homes, timely payments and those who pay their premiums in full. These changes aim to enhance the insurance experience by acknowledging and rewarding eco-friendly practices and renovations, ensuring policyholders not only receive protection but also contribute to a more sustainable future.

CTA We want to know what you think about Mercury

We want to know what you think about Mercury

Do you have experience with Mercury? Let us know your thoughts.

Mercury car insurance review

Mercury earned a Bankrate Score of 3.8 out of 5.0 for auto insurance. To determine this score, our team of insurance experts looked at customer satisfaction scores from J.D. Power, which provides annual reviews of insurance companies based on consumer feedback. We also considered AM Best financial strength ratings — an indicator of the financial stability of a company — as well as customer complaints filed with the National Association of Insurance Commissioners (NAIC) and average premiums from Quadrant Information Services. Lastly, we analyzed the range of available policy options and the ease of policy management.

Mercury offers all standard car insurance coverage types, plus rental car reimbursement and roadside assistance. If you’re a driver for Uber, Lyft or another app-based ride service, you may be interested in Mercury’s rideshare insurance, 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 with an advertised discount just for signing up.

Pros and cons of Mercury car insurance

Mercury offers the standard coverage types that many drivers need, but there are still advantages and disadvantages to choosing any insurer. Here’s what to consider if you’re thinking about selecting Mercury.

Green circle with a checkmark inside

Pros

  • Rideshare insurance available
  • Local agents available in most states where Mercury writes policies
  • Optional roadside assistance coverage
Red circle with an X inside

Cons

  • No gap insurance available
  • Only available in a few states
  • No loyalty discounts
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Mercury car insurance cost

The average rates for Mercury car insurance are slightly more competitive than the national average. Minimum coverage with Mercury averages $587 per year, compared to the national average of $637 per year. Similarly, Mercury’s full coverage costs $1,896 per year, on average, which is less than the national average full coverage premium of $2,299 per year.

However, auto insurance companies base 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, driving record and the types of coverage you choose to include in your policy.

How much is Mercury car insurance? 

To determine average rates for specific driver profiles, Bankrate analyzed rate data provided by Quadrant Information Services. For instance, we examine average premiums offered to drivers with a clean driving record and those for motorists with a moving violation such as an at-fault accident or speeding ticket. Note that some insurance companies will not write policies for drivers with a history of DUI violations. If you have a DUI on your driving record, speak with a Mercury insurance agent to find out if you qualify for a car insurance policy.

Good driver, good credit
Mercury full coverage premium
$1,896
National full coverage premium
$2,299
Mercury full coverage premium
$2,770
National full coverage premium
$4,248
Mercury full coverage premium
$2,647
National full coverage premium
$2,773
Mercury full coverage premium
$3,628
National full coverage premium
$3,280
Mercury full coverage premium
$2,838
National full coverage premium
$4,399
*All rates displayed are average annual rates.

Mercury car insurance quotes by age

Age is a factor insurance companies examine when determining premiums in most states. Statistically, young drivers under the age of 25 have more accidents than mature drivers. Young drivers who maintain a clean driving record typically see a rate decrease after age 25, However, young drivers on either their own or their parents’ policy will usually see higher premiums, including with Mercury car insurance.

Mercury full coverage premium
$4,175
National full coverage premium
$5,015
Mercury full coverage premium
$3,692
National full coverage premium
$4,333
Mercury full coverage premium
$4,525
National full coverage premium
$4,671
Mercury full coverage premium
$2,535
National full coverage premium
$2,852
Mercury full coverage premium
$2,121
National full coverage premium
$2,450
Mercury full coverage premium
$1,896
National full coverage premium
$2,299
Mercury full coverage premium
$1,636
National full coverage premium
$2,087
Mercury full coverage premium
$1,896
National full coverage premium
$2,299
Mercury full coverage premium
$1,636
National full coverage premium
$2,087
*All rates displayed are average annual rates. Rates are based on our good driver profile, with 16- and 18-year-old drivers added to their parents’ policy.

Compare Mercury car insurance rates

When shopping for car insurance, it's important to compare rates across different companies, as premiums can vary significantly based on several factors including location, vehicle type and coverage levels. In this section, we compare Mercury Insurance rates for both full and minimum coverage against 10 major insurers. This comparison will help you understand where Mercury stands in terms of pricing within the market. Keep an eye on the table below to compare Mercury's rates against other big-name insurance providers, to help determine which might be the cheapest option for you.

Company Avg. full coverage premium Avg. min coverage premium
$1,896
$587
$2,406
$713
$2,021
$576
$2,977
$796
$1,709
$435
$1,564
$698
$1,895
$663
$1,565
$459
$1,703
$584
$1,631
$415
$1,564
$698
$1,895
$663
$1,565
$459
$1,703
$584
$1,631
$415
*All rates displayed are average annual rates.

Mercury customer satisfaction

When shopping for insurance, third-party reviews and evaluations can help you determine which carrier can best meet your needs. Sources like J.D. Power, which surveys customer satisfaction from policyholders of top insurers, can assist in evaluating an insurer’s ability to provide good customer care and quality claims.

Mercury auto claims satisfaction

Mercury was included in the 2023 J.D. Power U.S. Auto Claims Satisfaction Study, but ranked below the industry average, with an overall customer satisfaction score of 848 out of 1,000, indicating customers may not be satisfied with its handling of auto claims.

Mercury auto insurance customer complaints

Additionally, our team looks at the NAIC Complaint Index, which reports how many complaints have been filed with the NAIC against a company and presents a score. A score of 1.0 represents an average, or baseline, number of complaints. Scores above the baseline reflect more complaints than average for insurers of comparable size, whereas scores below the baseline reflect fewer complaints than average.

For Mercury Insurance, the NAIC Complaint Index shows fluctuations over the past three years, suggesting varying levels of customer experience during this period. In 2021, Mercury's index was 1.19, indicating slightly more complaints than the industry average. However, in 2022, the index significantly improved to 0.25, demonstrating fewer complaints than typical for insurers of its size. This trend reversed in 2023, with the index rising to 1.66, reflecting more complaints than average. These figures suggest that while Mercury has had years of better-than-average complaint records, there are also periods where customer satisfaction could be improved.

Mercury car insurance discounts

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

Keep in mind that discounts may vary by state. 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.

  • Anti-theft discount: If your vehicle is equipped with mechanisms such as a GPS tracker or car alarm, you may qualify for the anti-theft discount.
  • E-signature discount: Drivers could earn a discount by signing an online digital copy of their insurance documents online.
  • Multi-policy discount: Policyholders who bundle auto and condominium, home or renters insurance policies may qualify for a discount on their car insurance.
  • Multi-car discount: Drivers who have multiple vehicles on one policy could save on Mercury Insurance
  • Good driver discount: If you have any drivers on your policy who have gone for a prolonged period of time without getting a ticket or getting in an accident, you may be eligible for a discount.
  • Autopay discount: You can potentially save off your Mercury policy when you sign up for automatic payments
  • Good student discount: Students on your policy who qualify as a “good student” might help you save money on your plan.
  • Pay in full discount: When you pay for an entire auto insurance term all at once, you can save money in the long run. Plus, you won’t have to remember to make monthly payments.

Get personalized auto insurance quotes

Answering a few quick questions to check your availability with Mercury
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Mercury home insurance review

Mercury home insurance offers the standard home coverage options, along with extended dwelling replacement cost coverage, identity theft protection and valuable items coverage. For home coverage, the company earned a Bankrate Score of 4.3 out of 5.0. Keep in mind that Mercury only writes homeowners policies in 10 states: Arizona, California, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia.

Pros and cons of Mercury homeowners insurance

It is important to research whether a home insurance company offers the coverage you need. Mercury homeowners policies offer useful coverage options, but it helps to know the provider’s pros and cons before making your decision.

Green circle with a checkmark inside

Pros

  • Extended dwelling replacement cost coverage available
  • Valuable items coverage available
  • Protective devices and fire-resistance construction discounts available
Red circle with an X inside

Cons

  • Only available in 10 states
  • No loyalty discount available
  • 24/7 customer service not available
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Mercury home insurance cost

Mercury’s average annual home insurance premium is $867 for $300,000 in dwelling coverage. To compare, the national average cost of homeowners insurance is $2,153 per year for the same level of coverage. Keep in mind that many home insurance companies offer more optional coverage types than Mercury, which may be a tradeoff to consider when considering a cheaper home insurance company.

$150K dwelling
Mercury average premium
$555
National average premium
$1,293
$300K dwelling
Mercury average premium
$867
National average premium
$2,153
$350K dwelling
Mercury average premium
$982
National average premium
$2,447
$450K dwelling
Mercury average premium
$1,240
National average premium
$3,034
$750K dwelling
Mercury average premium
$1,930
National average premium
$4,758
*All rates displayed are average annual rates.

Compare Mercury homeowners insurance rates

When exploring your best homeowners insurance options, you’ll likely notice that rates can vary significantly from one insurance company to another. Mercury Insurance is just one of several providers we'll compare in the table below, which includes a total of 10 major insurers. This comparison aims to highlight how Mercury's rates for homeowners insurance stack up against other well-known companies in the industry. By examining these comparisons, homeowners can better gauge where Mercury stands in terms of cost-effectiveness and value in the broader insurance market.

Company Avg. annual premium Difference compared to national average
$867
- $1,286
$1,795
- $358
$1,917
- $236
$1,431
- $722
$2,312
+ $159
$1,662
- $491
$3,593
+ $1,440
$1,594
- $559
Progressive
$2,359
+ $206
$1,578
- $575
$1,662
- $491
$3,593
+ $1,440
$1,594
- $559
Progressive
$2,359
+ $206
$1,578
- $575

Mercury customer satisfaction

When looking at Mercury insurance reviews, Mercury did not earn a ranking in J.D. Power’s 2023 U.S. Home Insurance Study for homeowners insurance or renters insurance, nor in its 2024 U.S. Property Claims Satisfaction Study. These third-party assessments typically offer valuable insights into a company's service quality and customer handling. For insurers like Mercury that are not included, it may be beneficial to explore alternative sources of customer feedback or rely on financial strength ratings, such as those from AM Best, to gauge the company's ability to meet its claims obligations.

Mercury home insurance customer complaints

The NAIC Complaint Index is a crucial metric when assessing an insurer's customer satisfaction. For Mercury's home insurance products, this index provides a snapshot of how the company fares in terms of customer complaints compared to the industry average. Over the past three years, Mercury's index scores have varied, showing a score of 1.04 in 2021, no complaints in 2022 and an increase to 1.59 in 2023, where a score of 1.00 represents the industry norm. This indicates fluctuations in customer satisfaction and complaint handling efficiency over time.

Mercury home insurance discounts

Mercury has a number of home insurance discounts available. Talk to your agent when you are going through the quote process to find out which discounts are available in your state. If you are a current policyholder, you can reach out to your agent to find out if there are any discounts that can be applied to your policy. Some of the discounts offered by Mercury include the following options:

  • Loss-free discount: If you haven’t filed a claim in three or more years before your Mercury policy’s effective date, you may qualify for a discount.
  • 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 occurs.
  • Safety and security devices discount: Homes equipped with devices such as smoke alarms, sprinkler systems and burglar alarms might qualify for a discount.
  • New home discount: Purchase a home that is less than 10 years old, and Mercury might reward you with a home insurance premium reduction.

Get personalized home insurance quotes

Answering a few quick questions to check your availability with Mercury

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Powered by Coverage.com (NPN: 19966249)

Advertising disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Mortgage

Leaving so soon? Your custom quotes are just minutes away.

Compare Mercury with other insurers

Insurance experts recommend shopping with a few insurance companies before deciding which one should earn your business. If you’re not sure about Mercury, consider these options:

Badge 1 Featured

Mercury

Mercury
Rating: 4.1 stars out of 5
4.1
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Cost & ratings

Rating: 4.3 stars out of 5
4.3

Coverage

Rating: 3.1 stars out of 5
3.1

Support

Rating: 4.7 stars out of 5
4.7

Safeco

Safeco
Rating: 3.8 stars out of 5
3.8
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Cost & ratings

Rating: 3.1 stars out of 5
3.1

Coverage

Rating: 5 stars out of 5
5.0

Support

Rating: 4 stars out of 5
4.0

Progressive

Progressive
Rating: 4.4 stars out of 5
4.4
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Cost & ratings

Rating: 4.2 stars out of 5
4.2

Coverage

Rating: 5 stars out of 5
5.0

Support

Rating: 4.3 stars out of 5
4.3
OVERVIEW
Info
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. Safeco also offers more insurance products, including coverage for boats, classic cars, golf carts and recreational vehicles.
Similar to Mercury, Progressive offers a usage-based telematics program that may earn policyholders additional savings for practicing safe driving behaviors. But Progressive offers several other products, including dental, health, life, pet, travel and vision insurance for consumers who prefer using the same insurer for multiple needs.
STANDOUT FEATURES
Info
Loan
Variety of coverage options
Dollar
Claims-free cash back program
Dollar Coin
RightTrack discount program
Auto Car
Snapshot telematics program
Invest Portfolio
Name Your Price shopping tool
Online Reviews
Online quotes
AVG FULL COV. AUTO RATE
Info
No rates available $2,021
J.D. POWER AUTO SCORE
Info
865/1000 870/1000
AVG HOME RATE
Info
No rates available $2,359
J.D. POWER HOME SCORE
Info
809/1000 Not Scored
AM BEST RATING
Info
A(Excellent) A+(Superior)
Bankrate logo

Why you can trust Bankrate

Read our full methodology

Our insurance editorial team includes licensed agents with decades of combined experience, and we used our intimate knowledge of the industry to conduct this in-depth Mercury insurance review.

46

years of industry expertise

122

carriers reviewed

34.5K

ZIP codes examined

1.2M

quotes analyzed

Is Mercury a good insurance company?

Mercury offers a small portfolio of products, primarily for policyholders who need auto, home or renters insurance. AM Best gives the provider an A (Excellent) financial strength rating, which indicates it has historically been able to meet its claims obligations, an important measure for an insurance company.

The insurer offers all standard auto and home insurance coverage types, but some larger insurance companies offer more optional coverage and discounts. Some larger providers also offer health and life insurance products, along with financial services such as checking and savings accounts and investment products. However, if you only need car and home insurance policies and live in its service area, Mercury might meet your needs.

What are real-life customers saying about Mercury?

We've gathered feedback from real customers to provide a comprehensive view of Mercury Insurance. By exploring personal experiences shared on platforms such as Reddit and Trustpilot, we aim to offer a clearer picture of what you might expect when dealing with Mercury. It's important to note that individual experiences can vary widely, so these reviews help illuminate the range of interactions that customers have had with Mercury. This approach gives potential customers a more detailed understanding of Mercury’s service, directly from those who have interacted with the company.

Reddit

Reddit users offer mixed reviews about Mercury Insurance. One user expressed frustration after being asked to adjust their policy under confusing circumstances, including needing to add adult children as dependents who live out of state, only to face cancellation. Another user, however, had a positive experience with multiple claims being handled professionally and efficiently, highlighting helpful online agents and satisfactory resolutions.

Reddit user 1
Nov 1, 2023
I would avoid Mercury. We just switched to...
“I would avoid Mercury. We just switched to them about two months ago, and now switching again. They required me to remove one of my adult sons from my policy because he isn't in college. Then they said they were canceling me because I needed to have him on my policy. They also said that my other adult son, who is overseas serving in the Army, also needs to be on my policy. Mercury considers them both household members even though they both have their own homes in different states.”
Reddit user 2
Oct 1, 2023
I've had two to three claims with them my...
“I've had two to three claims with them my entire relationsihp with Mercury. All have been handled professionally, I was compensated when it was all concluded. Online agents are very helpful and quick. No complaints.”

Trustpilot

Trustpilot reviews on Mercury Insurance also reveal mixed sentiments. One reviewer expressed severe dissatisfaction, describing their experience as "horrible"  and noting that despite lower monthly fees, the service faltered significantly when it came to handling claims. Conversely, another user highlighted a positive experience, particularly appreciating the prompt and fair handling of claims despite high premiums due to frequent accidents, praising the company's customer service and the absence of hassle in their interactions.

Trustpilot user 1
Dec 1, 2022
Horrible experience with this company. Yes...
“Horrible experience with this company. Yes, they have lower monthly fees but this does you no good if something actually happens and you have to submit a claim. They will wrongfully deny your claim and then drop you due to damaged property if you don't pay out of pocket to fix it yourself. If you look at other reviews, it looks like this is a common practice with them. Also, their supervisors are incredibly condescending and rude.”
Trustpilot user 2
Jun 1, 2020
My mom has been in multiple accidents so our...
“My mom has been in multiple accidents so our premium is extremely high! How high? 5k+ annually. Last time she was in an accident, totaled the vehicle, and it was her fault. Mercury Insurance wrote us a 20k check so my mother can purchase a new vehicle. I have to give credit to Mercury Insurance for giving us excellent service. And yes we pay high premiums, but they always treat us fairly and customer service is superb. There's no hassle and headaches.”

Mercury company details

  • Website: mercuryinsurance.com
  • Customer service: 1-800-503-3724 or fill out this form
  • Claims: 1-800-503-3724
  • Billing: 1-800-503-3724
  • Address: 555 W Imperial Hwy, Brea, CA 92821-4802

State availability

Mercury offers car insurance in 11 states: AZ, CA, FL, GA, IL, NV, NJ, NY, OK, TX and VA. Mercury offers homeowners in all the mentioned states except for Florida.

Mercury tools and benefits

Depending on their 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 to repair or replace your possessions in the event of a covered loss. It may cover legal costs and/or medical expenses if someone sustains an injury in your rental property.
  • Mechanical protection: This coverage acts as an extended warranty on your vehicle and pays 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 above 4 out of 5 stars in both the App App Store and Google Play Store, which is competitive compared to some other insurance apps. The app allows policyholders to manage their home and car insurance with ease, directly from their smartphone.
  • Weather hub: This feature on Mercury’s website can help homeowners stay informed about natural disasters and severe weather catastrophes around the country.
  • Home cyber protection: Home Cyber Protection may cover data losses from mobile devices and personal computers
  • Home systems protection: Home Systems Protection covers home appliances and electronics.
  • Identity management services: This could help pay expenses incurred by identity theft such as attorney fees, lost income and notary fees.

Frequently asked questions about Mercury Insurance

Methodology

Bankrate utilizes Quadrant Information Services to analyze April 2024 May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region.

Auto

Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $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 coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Age: Rates were calculated by evaluating our base profile with the ages 16-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.

The rates for drivers ages 16-20 added to their parents' policy reflect the good student and driver's training discounts applied. The rates for drivers aged 16-20 on their own policy do not include the good student and driver's training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket, single at-fault accident and single DUI conviction.

Credit-based insurance scores: Rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. Four states prohibit or limit the use of credit as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts and Michigan.

Homeowners

Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $500,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlight where they fall short.

5
Rating: 5 stars out of 5
Overall Score
  • Cost & ratings 50%
  • Coverage & savings 30%
  • Support 20%
  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Written by
Ashlyn Brooks

Ashlyn Brooks is a finance writer with more than half a decade of experience, known for her knowledge in areas such as taxes, insurance, investing, retirement, finance news, and banking products.

Edited by Editor, Insurance