Have you been on the lookout for companies that offer coverage in any of the above States? In our Mercury insurance reviews, we cover the necessary information you need to know about the company so you can dissect if it’s a good fit for you.
Insurance helps you to be prepared for days of uncertainties, it is more of setting systems in place that can handle hard times or disasters whether it’s in your business, car, home, and condo among others.
Are you looking for insurance companies that sell both auto, home, condo, renters, business insurance? Let’s take a look at Mercury Insurance.
Table of contents
What Is Mercury Insurance?
Mercury auto insurance as the name implies is an insurance company they’ve been selling car insurance since its inception in 1961.
The company went further to spread its wings by specializing also in home insurance, business insurance, renters and condo insurance, and mechanical protection.
While it is only accessible in eleven states, Mercury has a reputation for offering affordable rates and basic coverage options for both new and high-risk drivers.
It sells full coverage automobile insurance for an average annual rate of $1,558 through a network of nearly 9,400 brokers. If you like working with a live agent and are searching for insurance coverage at a reasonable price, this firm may be worth considering.
Why Should I Use Mercury Auto Insurance?
Mercury Insurance attempted to compete by offering reasonable, competitive prices in comparison to larger auto insurance providers.
You can file a claim with Mercury 24 hours a day, seven days a week by calling the claims hotline. AM Best gave Mercury an A (excellent) rating for its financial soundness and capacity to meet its obligations.
Budget-conscious shoppers may be relieved to learn that the average cost of home insurance for a $250,000 home at Mercury is cheaper than the national average. It includes all of the regular home coverage options, as well as cyber security, home system protection, and identity theft protection.
“Mercury delivers everything you need in an insurance company,” says the company’s slogan. Mercury Insurance is a good option for drivers or prospective consumers looking for affordable auto insurance prices.
However, keep in mind that the company does not have an Android mobile app for policy administration, so you cannot purchase a policy or file a claim through the company’s website. Mercury insurance is also only accessible in eleven states.
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How Does Mercury Auto Insurance Work?
Mercury Insurance offers basic auto insurance packages with no frills. It offers a variety of coverage options, including liability, collision, comprehensive, medical payments, roadside assistance, and rental reimbursement, among others.
Mercury Insurance will cover the cost of a rental car if you’re involved in an accident and your automobile needs repairs. Its optional coverage can come in handy if you require a car to get to and from work or school. For up to 30 days, you can choose from coverage levels ranging from $30 to $100 each day.
Mercury car insurance cost
Mercury’s typical prices are somewhat less expensive than the national average for vehicle insurance. Mercury’s minimum coverage costs $553 per year, compared to $565 for the national average. Mercury’s full coverage costs an average of $1,558 per year, which is somewhat less than the national average full coverage premium of $1,674.
Auto insurance providers, on the other hand, base your premiums on a variety of criteria. Depending on your unique circumstances, such as your claims history, driving record, and the types of coverage you choose to include in your policy, the amount you pay may be more or lower than these averages.
What Are The Types Of Coverage Offered By Mercury Auto Insurance?
Mercury Insurance offers the following auto coverage options:
1. Liability insurance
This type of insurance may cover you if you are held legally accountable for injuring another person or damaging their property. It will also protect you if someone sues you for causing property damage or bodily harm.
Related Post: What Is Liability Insurance? Overview And Coverage
2. Collision coverage
Collision coverage provides for vehicle repairs following an accident or replacement if the vehicle is declared a total loss. If your vehicle is totaled, Mercury will offer you the actual cash worth of your vehicle once you have paid the deductible.
3. Comprehensive
Mercury offers comprehensive coverage to protect your insured vehicles from covered losses such as severe weather, vandalism, or fire.
4. Uninsured and Underinsured Motor Vehicle Coverage
Uninsured and underinsured motor vehicle coverage protects drivers who are found to be not at fault in an accident with an uninsured or underinsured driver. Mercury Insurance will cover the costs of car repairs, lost earnings, and hospital expenditures for policyholders who have this coverage.
5. Rental Car
Mercury Insurance covers the cost of a rental car if you are involved in an accident and your vehicle requires repairs. It’s an optional coverage, but it could come in if you need a car to get to work or school. You can choose between coverage limits ranging from $30 to $100 each day, for a period of up to 30 days.
6. Medical Payments Insurance
This insurance covers medical expenditures if anyone in your vehicle is injured in a car accident, regardless of who is at fault. The availability will be determined by your state of residency
7. Rideshare
Mercury Insurance refers to its rideshare coverage as “ride-hailing insurance,” costing as little as $0.90 per day. If you drive for firms like Uber or Lyft, you can add an optional rider to your auto policy.
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What Are The Discounts Offered By Mercury Insurance?
Mercury Insurance provides a variety of discounts to help you reduce your premiums, and they are as follows:
1. Payment Reductions
Multiple Policy Discount: Save money on your auto insurance premiums by combining them with homeowners, condo, or renter’s insurance.
Pay-in-Full Discount: You will receive a discount if you pay your premiums in full each year.
E-Signature Discount: You will earn a discount if you sign policy paperwork electronically.
Autopay Discount: You will receive an extra discount if you sign up for autopay.
2. Driving Practices and History
Good Driver Discount: If you are accident-free for a certain period, you may be eligible for a rate decrease.
Discount for Good Students: Students who thrive in school may be eligible for a discount.
- Vehicle Accessories: Vehicles equipped with anti-theft systems may be eligible for a discount.
- Multiple Car Discount: You may be eligible for a decrease in your insurance premiums if you own multiple vehicles. You can get a premium discount if you insure two or more automobiles.
However, it’s important to note that discount availability varies by state, so it’s best to contact a Mercury Insurance agent to see what plan you might be eligible for.
SEE ALSO: 14 Best Car Insurance Companies
What Is The Cost Of Mercury Home Insurance?
Based on $250,000 in dwelling coverage, Mercury’s average yearly house insurance cost is $614. This is about half the price of the national average for homeowners insurance, which is $1,312 per year for the same coverage.
Mercury’s restricted coverage offers may have contributed to the reduced average rate. Many house insurance companies, including Mercury, provide a wider range of supplemental coverage options.
Pros and Cons of Mercury Insurance
Pros
- Mechanical breakdown coverage available: This coverage functions as an extended warranty, paying for eligible repairs if your automobile breaks down.
- Multiple discount options and low prices: Mercury Insurance offers eight discounts to policyholders at low rates, albeit they may vary by state.
- Provides ridesharing coverage: Depending on where you live, drivers for services like Uber or Lyft can add a rideshare endorsement to their policy. It will cover any gaps not covered by the rideshare company’s policy.
- Medical payments insurance: If anyone in your vehicle is injured in an auto accident, your medical bills are covered regardless of who is at fault.
Cons
- Available in only 11 states: Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia are the only states where Mercury insurance is available.
- There is no way to file a claim online: Policyholders must call Mercury Insurance’s 24-hour hotline to talk with a claims agent.
- Need to work with an agent to purchase a policy: If you like the convenience of purchasing insurance coverage online, Mercury Insurance may not be the best option for you because you may need to work with an agent to purchase its policies.
Frequently Asked Questions On Mercury Insurance
Well, It depends on the type of quote you need. You will need your name, date of birth, driver’s license number, and Social Security number.
Taking advantage of as many discounts as possible could help you save money on your Mercury auto or house insurance. Additionally, increasing your deductible will usually result in a lower rate.
Forbes ranked Mercury Insurance one of the most trustworthy firms in America in 2013. Mercury Insurance was recognized as one of the top vehicle insurance companies by Insure.com from 2017 to 2020.
Mercury sells a variety of insurance to eleven states, and they are:
Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia.
Final Thoughts
Mercury Insurance offers discounts that vary by state and with its positive ratings from AM Best and Forbes, Mercury insurance is worth giving a try. However, those who prefer to work with a company completely online will have to look elsewhere, as Mercury Insurance only sells policies through its agents.
We hope these Mercury Insurance Reviews have provided you with the necessary information you need to know about the company.
References
- consumeraffairs.com – Mercury Auto Insurance
- investopedia.com – Mercury Insurance Auto Insurance Review
- bankrate.com – Mercury Insurance review 2023
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