Tyron Jones
Personal Finance Expert
Updated: 02/2022
Tyron Jones is a finance expert who has operated within the auto insurance business for more than 10 years. He has written many other finance related articles for a number of prominent publications.
Founded in 1961, Mercury Insurance is based and headquartered in Los Angeles. Most consumers know Mercury for its auto insurance offerings. The carrier offers homeowners insurance, renters insurance, and other insurance products as well. Still, auto coverage remains the company’s most popular product offering by far. Mercury insures over a million vehicles and is known for its excellent rates. Opinions vary on the carrier, but overall sentiment is more positive than negative.
A Growing Company That Covers A Limited Number of States
Mercury Insurance provides coverage in 11 states across the country. This figure pales in comparison to larger insurance carriers. However, George Joseph founded the company on the principle of helping consumers save money on auto insurance. More than 8,000 independent insurance agents help facilitate transactions between insureds and Mercury. Another 4,500 employees facilitate the companies day-to-day operations. Recently, Mercury has experienced steady growth and may expand into more states.
Which States Does Mercury Insurance Provide Coverage In Today?
Auto coverage through Mercury Insurance is currently available in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia. Mercury hasn’t indicated where it will offer coverage next.
Covering The Basics With Liability Coverage As Well As Collision and Comprehensive
Mercury Insurance provides basic auto coverage found with all carriers. This includes bodily injury liability, property damage liability, and uninsured/underinsured motorist liability. Collision and comprehensive coverage are available as well. Plus, insureds can opt for personal injury (in applicable states) or medical payments coverage, too. Insureds must meet minimum liability requirements set by the state they reside in but can buy additional coverage as desired.
Optional Coverage Solutions Available, But Lease/Loan Gap Coverage Missing
Like most carriers, Mercury offers rental reimbursement and roadside assistance. Insureds won’t have to worry about finding alternative transportation after an accident. They’ll experience no problems getting a tow or battery jump either. At this point, Mercury doesn’t offer gap coverage for loan or lease payoff. Such an omission should be considered a major shortcoming of choosing Mercury Insurance. Lease and loan gap coverage can prove vital for many consumers with newer or leased vehicles.
One Of The Few Carriers To Offer Rideshare Insurance For Uber/Lyft Drivers
Mercury does offer rideshare insurance for Uber and Lyft drivers, though. Rideshare insurance covers various situations that traditional auto insurance excludes from coverage. For instance, most companies won’t cover rideshare drivers while they’re waiting for a fare. This particular coverage is provided for a reasonable fee, and not all insurance carriers offer rideshare insurance at all. Many rideshare drivers fail to realize this gap in coverage even exists for themselves and other drivers. How much is rideshare insurance?
How Does Mercury Insurance Perform In The Price Department?
As previously mentioned, Mercury Insurance prides itself in offering low cost auto insurance. Most national carriers cannot compete with Mercury on premium alone. Rates through the carrier are shockingly low in some cases. Without a doubt, consumers love the low rates charged by Mercury. Such low rates continue to fuel the company’s growth and overall popularity. Low rates might define Mercury’s reputation, but other benefits make the company worth choosing for car insurance today.
Countless factors come into play when dealing with auto insurance rates. Insurance carriers consider everything from driver age to driving record and even vehicles owned. From there, carriers look at other things like overall accident rates in a given area and so much more. Auto coverage rating seems like a foreign language to ordinary consumers. All insurance carriers thrive or fail based on how they determine these rates and which risks they decide to take on.
With Mercury, consumers can expect to save a few hundred dollars per year compared to national carriers. Actual rates for each policyholder will vary, and not everyone will save money. More consumers will save money through Mercury when switching from another carrier, though. Otherwise, the carrier wouldn’t have grown to the strong performer it is today among consumers. Insurance companies of all sizes struggle to match Mercury’s rates. Mercury gauges its risks well enough to turn a profit year after year.
A Quick Overview of Available Discounts With Mercury Insurance
Common discounts are available with auto policies offered by Mercury. The company offers the multiple policy discount and the pay in full discount. On top of that, vehicles with anti-theft features receive an additional discount. Mercury offers what consumers would consider standard discounts but not much else. Geico offers a discount to members of the military whereas Mercury does not offer this discount. Still, insureds shouldn’t face any issues taking advantage of at least a couple discounts.
A Mobile App That Empowers Customers To Manage Their Policies
Mercury Insurance offers an excellent mobile app for its insureds. Through this portal, policyholders can pay their bills and manage their policies. Printing proof of insurance cards couldn’t be easier through the app. Policy documents are available to view and print 24/7 as well. Also, a convenient button will put the insured into contact with their local agent via phone or email. Policy changes can’t be processed through the app in most cases, although this is common for carrier mobile apps.
How Does Mercury Perform When It Comes To Claims?
Most insurance carriers live and die by their claims handling processes. Consumers want to know they’ll be taken care of during a claim. Fortunately, Mercury tends to perform well enough in the claims department. Claims can be filed 24/7 through Mercury, and a representative is always available. Most Mercury insureds will have a positive experience after filing a claim. Then again, other insurance carriers feature higher consumers ratings in the claims handling department.
Bundling Other Insurance Policies With Mercury Auto Insurance
Although Mercury is known for auto insurance, the carrier insures other property as well. Homeowners, condominium owners, and renters insurance policies are available through Mercury today. A handful of commercial insurance products are available as well. Surprisingly enough, Mercury provides equipment breakdown coverage and mechanical breakdown coverage where other insurance carriers often skip these products. Mercury’s exposure remains highest in auto insurance by far, though.
If a consumer buys auto insurance through Mercury, they shouldn’t hesitate to buy other types of insurance as well. Property owners can cover their home or rented property and save money through the multiple policy discount. For the biggest savings, this discount should be considered a necessity. Mercury doesn’t hesitate to cover rental properties as well. It’s more than possible to move all insurance coverage over to Mercury without much of a hassle. Read more about how to get auto and renters insurance bundle quotes.
Financial Strength and Overall Customer Satisfaction
Most financial rating companies classify Mercury Insurance as financially sound. None of these ratings are superior due to Mercury’s small size. Currently, Mercury holds just over $4 billion in assets. The company should be able to remain in business even with increased claims, but some risk does exist. An excess number of claims might put Mercury into trouble, whereas a company like Allstate would keep on rolling. Mercury’s size as a smaller carrier does come with certain risks.
In customer satisfaction, Mercury is often considered a mixed bag. The carrier has won awards in the past for customer satisfaction, which is excellent news. More recent polls and studies have shown the company performs well enough with customer service. However, negative interactions have increased in frequency, and not all Mercury insureds are happy about the level of service. Overall the carrier should meet expectations in regard to customer service and satisfaction more often than not.
The Final Verdict On Mercury Auto Insurance
Mercury Insurance markets itself as the best low-cost option for car insurance. In the end, it’s difficult to argue against that proposition. Over a million consumers can’t be wrong in choosing Mercury for their auto coverage. Carriers of all sizes struggle to offer the same competitive rates as Mercury Insurance at this point. For some consumers, Mercury won’t offer the lowest rate in town. The average person with a decent driving record should consider Mercury for their coverage needs.
Overall customer satisfaction with Mercury is acceptable these days. As we mentioned, the company doesn’t have a perfect track record with customer service and claims. The occasional insured may have a negative experience with Mercury. That’s to be expected with all insurance carriers, though. Mercury, by and large, excels as offering competitively priced auto insurance without any added frills or complications. Most consumers wouldn’t hesitate to take advantage of such an offering.
Be sure to read our other reviews about Erie Auto Insurance and a Safe Auto Insurance comparison here.
FAQ
General Mercury Auto Insurance FAQ
If you have any general questions about Mercury’s auto insurance services, make sure to check out the answers in this section.
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Is Mercury insurance good?
This will depend on the particular sentiment towards the company at the time — insurance companies are always changing. You should make sure to look at consumer watchdog groups before you make a decision.
How is Mercury insurance?
Mercury insurance is one of the largest insurance providers in the United States. To determine if the company is currently favorable with consumers, make sure to check consumer watchdog groups — it’s a great way to assess the current sentiment towards a company.
Is Mercury insurance a standard company?
This depends on your opinion of a standard company. In terms of function, Mercury insurance operates in the same way as many other large insurance companies in the United States.
Where is Mercury insurance headquarters?
At present, Mercury insurance is headquartered in Los Angeles, California. The company was originally founded in Los Angeles in 1961.
How much is Mercury car insurance?
This will depend on the type of car insurance that you purchase. Different coverage levels for different cars will carry different prices. Make sure to get a quote before you pay for any insurance plan. If they require a good credit score then you will need to make sure that’s high enough to qualify for good rates. Otherwise you’ll want to look into companies that offer no credit check car insurance.
Does Mercury insurance have roadside assistance?
This will depend on the coverage that you purchase. There are Mercury insurance plans that do offer roadside assistance to their clients. You’ll need to pay more for this type of insurance.
Does Mercury insurance have an app?
It appears that Mercury does offer an insurance app to its clients. This can help you pay bills and look at different parts of your policy.
Who is the woman in the Mercury insurance commercials?
If you’re talking about one of Mercury insurance commercials that has been extremely popular, you’re most likely thinking of the actress Natasha Lloyd.
How long has Mercury insurance been in business?
Mercury insurance has been in business since 1961. The company as originally founded in Los Angeles, California.
Who owns Mercury insurance?
At present, Mercury insurance is a publicly traded company — it is traded on the New York Stock Exchange. You can purchase shares of the company on the stock market.
Does Mercury insurance sell gap insurance?
At present, Mercury Insurance does not offer gap insurance to its clients. If you want gap insurance, you may need to look at other gap insurance providers that offer this service.
Does Mercury insurance accept American Express?
Yes, Mercury insurance does currently accept American Express as a payment option. This is a great feature for American Express members who are looking to accumulate points.
How to cancel Mercury insurance online?
Head online to the Mercury insurance site to cancel your insurance. Just make sure that you understand the consequences of not insuring your vehicle before you cancel your policy. If you’re looking for a new policy somewhere else then read about the best way to shop for car insurance and save.
How to add a car to Mercury insurance?
Head online to the Mercury insurance website or call your agent to discuss how you can add a car to your insurance plan. You should make sure that it’s an affordable option before you proceed. Remember though that insurance for a lease car may require more coverage.
Why is Mercury insurance so cheap?
There are a variety of reasons that Mercury insurance is able to offer cheap insurance. But they’re not always the cheapest provider on the market. They are specifically known for cheap insurance in NJ and surrounding states. Make sure to compare rates before you decide on a particular policy.
Are Mercury insurance agents always busy?
This will depend on your agent and the reason. If you can’t get hold of a Mercury insurance agent, it might be worth considering working with another company.
Do small accidents raise Mercury insurance?
In many cases, small accidents do raise Mercury insurance premiums. If you want to avoid paying more for car insurance, you’ll need to make sure to avoid accidents and claims as much as possible. It is possible to get cheap auto insurance with bad driving record.
Does car insurance cover rental cars Mercury?
There are Mercury car insurance policies that do cover rental cars, but you’ll need to check to make sure that your policy does offer this form of coverage.
How do I turn off automatic enrollment from Mercury insurance?
If you want to turn off your automatic enrollment, it’s a good idea to speak with your agent or directly with Mercury insurance.
How Does Mercury auto insurance set mileage rates?
You should contact Mercury insurance directly if you want to find out more information about the process they use to set mileage rates. You can ask them if they have car insurance for low mileage drivers too.
How Does Mercury insurance roadside assistance work?
If you want to get roadside assistance at Mercury, all you need to do is make sure that you sign up for a policy that offers this form of coverage. Not all policies offer this benefit.
How long Does Mercury auto insurance increase after accident?
This will depend on your particular circumstances. If you feel that the company is being unfair, make sure to contact them for information on your particular increase. Sometimes to get cheap insurance with bad driving record you’ll need to shop around again.
How much Does insurance go up after an accident Mercury?
This will depend on a variety of different factors, including your past driving record. It’s impossible to predict the exact amount that a policy will rise after an accident. Related: How can I lower my car insurance after an accident?
Mercury Auto Insurance Policy FAQ
If you have questions about Mercury policies, make sure to check out some of the answers in this section.
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Does Mercury insurance cover DUI?
No typical insurance companies cover DUI. If you drink and drive, your policy will become invalid and you will be personally liable for damages. This is just one of many reasons not to drink and drive. However there are other DUI insurance options available. Getting cheap sr22 insurance may be challenging but it can be done though it will still cost more than the typical insurance.
Does Mercury insurance cover towing?
This will depend on your policy — there are policies that you can obtain via Mercury insurance that include roadside assistance. Make sure to check if you have this feature in your policy if you want it.
Does Mercury insurance cover motorcycles?
It does not appear that Mercury insurance currently covers motorcycles. If you want to get motorcycle insurance, you’re best to work with another provider.
Does Mercury insurance cover windshield repair?
In most cases, you’ll need to have a comprehensive policy to have this type of coverage. It may also depend on the state that you live in — it’s always a good idea to clarify this directly with the insurance company.
Does Mercury insurance have umbrella policy?
Yes, you can obtain umbrella insurance and Mercury insurance if you want to add extra protection.
What Does Mercury insurance roadside assistance cover?
If you decide to pay extra for roadside assistance with Mercury, you’ll benefit from a variety of features that help you when you run into trouble. Features include towing, flat tire change, battery jump-start, fuel and fluid delivery, and access to a locksmith.
Does Mercury insurance cover windshield replacement?
In most cases, you’ll be able to get windshield replacement at Mercury if you have a comprehensive plan. This might differ depending on the state you’re living in. Make sure to check with Mercury directly.
Does Mercury insurance cover U-haul rental?
Mercury insurance doesn’t provide any publicly available information about covering u-haul rentals. It’s best to give them a call to discuss if you can cover a u-haul rental with your current policy.
How much Does Mercury auto insurance cover on accidents?
This will depend on your particular policy. There are a wide variety of different coverage levels that you can obtain at Mercury. Make sure to assess what’s covered in your policy.
Other Mercury Auto Insurance Questions
If you have other questions about Mercury auto insurance, make sure to look at the answers in the section below.
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Does all auto insurance ask for mileage Mercury?
In most cases, Mercury will ask for your mileage to help determine certain components of your policy. This is a pretty standard practice in the auto insurance industry.
Does Mercury automobile insurance cover water damage?
If you have comprehensive insurance, you should be covered for certain types of water damage. Make sure to check with your insurance provider to make sure that you have water damage coverage.
Does Mercury full coverage insurance have a rental reimbursement?
Some of Mercury insurance’s plans do offer a certain amount of rental car coverage if your current car is in the shop for repairs. There is a maximum amount that you’re allowed to claim. Learn more about cheap full coverage auto insurance.
Does Mercury insurance have mechanical breakdown insurance?
Yes, while this type of coverage is not included in traditional insurance plans, it is available via Mercury insurance at an extra cost. You need to purchase this if you want this type of coverage.
Does Mercury insurance charge a cancellation fee?
Yes, you will have to pay a fee if you want to cancel your Mercury insurance. This is why it’s a good idea to only get a policy if you know you want to use this provider.
Does Mercury insurance check your grades?
If you want to get a good student car insurance discount at Mercury insurance, you may have to show the company evidence of your grades. This is a standard practice with many auto insurance companies.
Does Mercury insurance decrease cost for low mileage?
Yes, Mercury has a program that can help you decrease the cost of your insurance by proving that you’re using fewer miles. It can be a great way to save some money especially if you’ve noticed an auto insurance premium increase recently.
Does Mercury insurance have membership fees?
There is no evidence to suggest that there are membership fees associated with Mercury insurance, but it’s always a good idea to check before you make any financial commitments. Inquire about very cheap car insurance no deposit if they have it.
Does Mercury insurance have policy fees?
There are certain fees associated with a Mercury insurance policy, such as a cancellation fee. If you want to ensure you understand all the fees associated with your policy, make sure to contact Mercury insurance directly.
Does Mercury insurance have rideshare insurance for Florida?
Yes. You can find ridesharing insurance at Mercury. They have recently brought out this type of insurance to help clients who drive for the various ridesharing apps.
Does Mercury insurance have sr22?
You should speak directly with Mercury insurance about their options for sr22. As a major provider, they should offer this form of coverage for their clients.
Does Mercury insurance insure salvage titles?
Mercury insurance doesn’t offer much information about salvage titles. Because many insurance companies shy away from this form of insurance, it’s best to speak with them directly about your options.
Does Mercury insurance offers hotels or car rentals discounts?
There is no evidence to suggest that you’ll be able to get extra discounts at hotels or rental car locations if you have Mercury insurance. But it’s always worth checking to see if there are any promotions.
Does Mercury insurance RealDrive save money?
Yes, you can save money by signing up for the RealDrive program. This is an option that Mercury provides to customers who want to save a bit of cash.
How to file a claim Mercury insurance?
If you want to file a claim with Mercury, make sure to call them directly. They accept claims via their claims hotline number. They also provide some great advice on their website about what to do after an accident.
What states is Mercury insurance in?
Mercury Insurance currently offers auto insurance in Arizona, Florida, California, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia. Make sure to check back to see if this changes.
Where to send payment to Mercury insurance?
This will depend on the type of payment you’re having to make. It’s always a good idea to speak with Mercury directly to make sure that you’re sending money to the right location.
How to report an accident to Mercury insurance?
If you want to report an accident or make a claim, you can call Mercury directly on their claims hotline. It’s the best way to get in contact with the company.
How to view account for Mercury insurance over phone?
There is an app that you can use to view different components of your Mercury insurance policy. This app is actually highly regarded with many of Mercury’s customers.
