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Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent. Amy Sims is a managing editor for Bankrate, leading a team responsible for creating educational insurance content. Steve Ellis, CPCU, AIC, MBA, is a 30 year veteran of the insurance industry. His experience extends into training, operations, quality improvement, audit, compliance, claims technology, and data & analytics. Sep 19, 2022 Bankrate logo The Bankrate promise
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 editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate logo Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . 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. At a glance
4.1 Bankrate Score Car 4.2 Home 4.0 About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Bottom Line 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. Pros and Cons Quick Look Pros Cons Avg. annual auto insurance premium for full coverage: $1,558 Avg. annual auto insurance premium for min coverage: $553 Avg. annual home insurance premium for $250k dwelling coverage: $614 Compare rates 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 , financial strength ratings from and , 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 , the most recent year that Mercury was ranked. 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. Shop rates and compare quotes
Get personalized auto insurance quotes by answering a few quick questions Quick facts on average this year by shopping for new car insurance Rates vary by state The average American pays for auto insurance Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . 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. See more providers in Choose from insurers in Show More 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 , 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 , 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, 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 Speeding ticket $1,933 $2,062 At-fault accident $2,548 $2,311 Adding a 16-year-old driver* $2,556 $2,531 *16-year-old rates reflect the added cost to their parents' full coverage car insurance policy. Mercury car insurance discounts
In addition to its competitive rates, Mercury Insurance offers 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
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 . 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. Compare home insurance rates
Answer a few questions to see personalized rates from top carriers. Continue Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . 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. Quick Facts $382/year average savings through Bankrate 2 out of 3 homes are underinsured 1 out of every 20 insured homes makes a claim each year 100% of homes need insurance before getting a mortgage See more providers in Choose from insurers in Show More Mortgage Leaving so soon Your custom quotes are just minutes away
Return to form 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 , 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 offer more optional coverage types than Mercury. Dwelling coverage limit Mercury average annual premium National average annual premium $150,000 $462 $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 . 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: : This provides coverage for property, business income, and ordinance or law to protect your company from complex exposures that you may face. : 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. : This coverage acts as an extended warranty on your vehicle and pays out to cover certain repair costs if your vehicle breaks down. : Mercury's umbrella coverage provides between $1 and $5 million in additional liability to supplement an existing home or auto policy. : 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 for Engagement Leaps. Not sure if Mercury is right for you Consider these alternatives
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. Bankrate Score
Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers and homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support. To determine how well the best car and home insurance companies satisfy these priorities, third-party agency ratings from , , , , and Moody's had the most impact on the companies' Bankrate Scores. As price is a common consideration for drivers and homeowners, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry, as well as 40-year-old male and female homeowners with $250,000 in dwelling coverage. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers and homeowners may compare each provider. While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer's online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores. Compare rates and save on auto insurance today! Get quotes Close X On This Page
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