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Mercury insurance review 2023
At a glance
Cost & ratings
Cost & ratings
About Bankrate Score
Automobile owners, homeowners and business owners who prefer doing business with a smaller insurance company may find robust coverage options with Mercury Insurance.
Offers rideshare coverage
Low average premiums
Strong local agent network
Robust online resources and a mobile app
Limited state availability
No life insurance products
No online claims filing option for homeowners policyholders
Mercury car insurance
Mercury earned a Bankrate Score of 4.6 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, several financial strength ratings from institutions like AM Best, customer complaints filed with the National Association of Insurance Commissioners (NAIC), average premiums from Quadrant Information Services, available policy options and policy management accessibility, and national availability.
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 that takes a percentage off your insurance just for signing up.
Pros and cons of Mercury car insurance
Mercury offers all the standard coverage types that many drivers need, but there are still unique advantages and drawbacks with the company.
Rideshare insurance available
Local agents available in most states where Mercury writes policies
Optional roadside assistance coverage
No gap insurance available
Only a few discounts
No loyalty discounts
Mercury car insurance cost
Mercury’s average rates are slightly more competitive than the national average. Minimum coverage with Mercury averages $541 per year, compared to the national average of $622 per year. Similarly, Mercury’s full coverage costs $1,547 per year, on average, which is a bit less than the national average full coverage premium of $2,014 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 coverages you choose to include in your policy.
Mercury car insurance rates by driving history
To determine rates, Bankrate tracks rates provided by Quadrant Information Services. Over time, we analyze the data to compare average rates for specific driver profiles and situations. 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. Since some insurance companies will not write policies for drivers with a history of DUI violations, we do not include DUI rate data. 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.
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.
Average cost of car insurance for drivers on their parent’s policy
Average cost of car insurance for drivers on their own policy
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: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 may save 5% off their premium immediately.If your vehicle is equipped with mechanisms such as a GPS tracker or car alarm, you may qualify for the anti-theft discount.Drivers could earn a discount by signing an online digital copy of their insurance documents online.Policyholders who bundle auto and condominium, home or renters insurance policies may qualify for a discount on their car insurance.
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.
Mercury car tools and benefits
Unfortunately, Mercury does not insure other types of vehicles such as motorcycles or recreational vehicles.
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 a guide for 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
Mercury home insurance offers the standard home coverage options, along with extended dwelling replacement cost coverage, identity theft protection and valuable items coverage. It also earns a Bankrate Score of 2.6 out of 5. 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 that 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.
Extended dwelling replacement cost coverage available
Valuable items coverage available
Protective devices and fire-resistance construction discounts available
Only available in 10 states
No loyalty discount available
No online claims filing option for homeowners insurance policyholders
Mercury home insurance cost
Mercury’s average annual home insurance premium is $618, based on $250,000 in dwelling coverage. This is less than the national average cost of homeowners insurance, which is $1,428 per year for the same level of coverage. However, keep in mind that many home insurance companies offer more optional coverage types than Mercury, which may be a tradeoff to consider when factoring price.
Dwelling coverage limit Mercury average annual premium National average annual premium $150,000 $450 $975 $250,000 $618 $1,428 $350,000 $792 $1,879 $450,000 $1,003 $2,343 $750,000 $1,605 $3,761
Mercury home insurance discountsIf you haven’t filed a claim in three or more years before your Mercury policy’s effective date, you may qualify for a 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.Homes equipped with devices such as smoke alarms, sprinkler systems and burglar alarms might qualify for a discount.Purchase a home that is less than 10 years old, and Mercury might reward you with a home insurance premium reduction.
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 discover additional discounts for which you qualify. Discounts may vary by state.
Mercury home services
Mercury offers helpful online resources for policyholders, including holiday tips for homeowners and how-to articles. The company’s website also has a weather hub, which can help homeowners stay informed about natural disasters and severe weather catastrophes around the country.
Mercury home tools and benefits
Homeowners who need more personal liability protection can purchase a Mercury umbrella insurance policy, which provides $1 million to $5 million worth of additional protection.
Mercury enables homeowners policyholders to enhance their protection by bundling their property insurance with optional Home Cyber Protection, Home Systems Protection And Identity Management Services. Home Systems Protection covers home appliances and electronics, while Home Cyber Protection may cover data losses from mobile devices and personal computers. Following a covered loss, Identity Management Services can help pay expenses incurred by identity theft such as attorney fees, lost income and notary fees.
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, quality claims handling and the financial strength to meet claims obligations.
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.
Mercury auto claims
In the 2022 J.D. Power U.S. Auto Insurance Study, Mercury ranked fourth in the California region, with an overall customer satisfaction score of 827 out of 1,000. Mercury was also included in the 2022 J.D. Power U.S. Auto Claims Satisfaction Study, but ranked below the industry average, with an overall customer satisfaction score of 830 out of 1,000. However, in the National Association of Insurance Commissioners (NAIC) 2021 complaint index, the provider earned a 0.71 rating for personal passenger insurance, indicating fewer complaints than the baseline average of 1.0.
Mercury homeowners claims
Mercury did not earn a ranking in the 2022 J.D. Power U.S. Home Insurance Study for homeowners insurance or renters insurance. In 2021, the carrier received only one complaint, earning a 0.0 NAIC complaint index score for home insurance — well below the industry average.
How to file a claim with Mercury
Mercury enables auto and home insurance policyholders to file a claim over the phone by calling its 24/7 hotline at 800-503-3724. Car insurance policyholders can also file a claim online, although this option does not exist for homeowners insurance claims. A claims representative can also arrange for a tow truck and a rental car for auto claims, if needed.
Mercury writes car insurance policies in 11 states, including:
- New Jersey
- New York
Mercury offers home insurance policies in all the above states, except Florida.
Other Mercury perks worth considering
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.
Mercury’s corporate sustainability
Mercury sends care packages to service members overseas, builds homes in local communities, donates technology to inner-city educational programs and humanitarian relief organizations.
In 2022, Mercury began subsidizing the cost of Flume smart home water monitoring systems for California homeowners insurance policyholders. In light of ongoing drought conditions, the initiative is set to help homeowners detect leaks and monitor their water usage. Additionally, the program may help homeowners qualify for water district rebates to help cover the costs of water monitoring devices and installation.
Additionally, Mercury employees have access to the company’s wellbeing program.
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:
Mercury vs. 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. Safeco also offers more insurance products, including coverage for boats, classic cars, golf carts and recreational vehicles.
Learn more: Safeco Insurance review
Mercury vs. Progressive
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.
Learn more: Progressive Insurance review
Mercury vs. 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. The company tied for a 2023 Bankrate Award as the Best Auto Insurance Company Overall. Although Geico only extends a few discounts to home insurance customers, it offers an impressive number of car insurance discounts, including up to a 23% discount for vehicles equipped with airbags and anti-theft systems.
Learn more: Geico Insurance review
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, and in 2022, Mercury earned the fourth-highest ranking in the 2022 J.D. Power U.S. Auto Insurance Study for the California region.
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, Mercury might meet your needs.4612220.7K1.2M
Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 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 2021 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.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident and single speeding ticket.
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 due to state regulations.
The rates for drivers ages 16–20 added to their parent's policy reflect the good student and driver's training discounts applied. The rates for drivers aged 18-20 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.
Bankrate utilizes Quadrant Information Services to analyze 2023 current rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
- Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
- Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
- Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
- Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
- 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.
Our 2023 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.
Like our previous Bankrate Scores, 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. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
- 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 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 and home 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.On This Page