Mercury Car Insurance Review 2024

Mercury Car Insurance Review

Mercury has a minimal number of car insurance complaints filed with state insurance departments. However, it may not be the ideal option for those seeking affordable insurance due to its limited additional coverage options and relatively high rates for certain driver categories. Looking for car insurance can be a daunting task. With so many options out there, it’s hard to know which one is the best fit for you and your needs. That’s where Mercury Car Insurance comes in. In this review, we’ll take a closer look at what sets Mercury apart from the competition and why it might be the perfect choice for you in 2024. From their affordable rates to their excellent customer service, we’ll cover all the key aspects of Mercury Car Insurance so you can make an informed decision. So let’s dive in and see if Mercury is the right fit for your car insurance needs!

Outlines Of Guide

Mercury Car Insurance Review 2024

Mercury Car Insurance is a well-established insurance provider that offers a wide range of coverage options for drivers. In this Mercury Car Insurance Review 2024, we will take an in-depth look at the company’s offerings, customer service, and claims process to help you make an informed decision about your car insurance needs. With competitive rates and a solid reputation in the industry, Mercury Car Insurance continues to be a popular choice for drivers across the country. Stay tuned for our comprehensive review of Mercury Car Insurance and find out if they are the right fit for you.

Mercury Car Insurance Pros And Cons

Mercury car insurance has consistently received positive reviews from customers in 2024. With its competitive rates and comprehensive coverage options, Mercury has become a popular choice for drivers looking for reliable insurance. Customers have praised the company’s excellent customer service, quick claims processing, and hassle-free experience. In addition, Mercury offers various discounts and benefits, such as multi-policy discounts and accident forgiveness programs, making it an attractive option for cost-conscious drivers. Overall, based on customer feedback and satisfaction ratings, Mercury car insurance continues to be a trusted and reputable provider in the industry.

Pros

  • Helpful to Lyft and Uber drivers because it offers ride-sharing insurance.
  • Offers usage-based insurance (MercuryGo) for drivers willing to be monitored to try to get a discount based on driving habits.

Cons

  • Mercury is only available in 11 states.
  • If you want coverage options, such as accident forgiveness, new car replacement or a vanishing deductible, you’ll have to look elsewhere.
  • Earned only a C grade for its repair processes by auto body repair professionals.

About Mercury Car Insurance

Mercury Insurance was established in California in 1961 with the intention of offering affordable insurance options to drivers of all kinds. The company’s name was inspired by the swift and agile Roman deity. Its founder, George Joseph, held a dual major in mathematics and physics from Harvard University and worked as an actuary during the day while selling life insurance in the evenings. Joseph’s dissatisfaction with car insurance companies that charged uniform rates regardless of driving history motivated him to create a superior company for California motorists. His vision involved implementing various pricing factors to determine fair rates based on different driver profiles. With an initial capital of $2 million, Mercury Insurance issued its first policy on April 1, 1962.

Mercury Car Insurance Rates vs. Competitors

When comparing Mercury car insurance rates to its competitors, it’s essential to consider the coverage options offered, deductibles, and discounts available. Mercury offers a range of coverage options, including liability, collision, and comprehensive coverage. The company also provides various discounts like multi-car and good driver discounts that can help reduce your premium costs. However, when compared to other car insurance providers like State Farm or Geico, Mercury’s rates may be slightly higher. It’s always recommended to compare rates from different providers and choose the one that best fits your needs and budget.

Mercury Car Insurance Comparison for Good Drivers

Mercury car insurance premiums for safe drivers are slightly on the higher side. Among the companies we examined, Mercury’s rates are approximately $200 higher than the national average of $2,026 per year.

Company National average annual cost for good drivers
USAA $1,364
Nationwide $1,436
Travelers $1,521
Geico $1,597
Erie $1,642
Progressive $1,826
State Farm $2,025
Mercury $2,210
Allstate $2,896
Farmers $3,093

Mercury Car Insurance Comparison for Drivers With a Speeding Ticket

Mercury offers higher rates for drivers who have received a speeding ticket when compared to its top competitors. If you happen to have a ticket on your driving record, it is advisable to explore other options as different companies employ diverse methods in calculating their rates.

Company National average annual cost for drivers with a speeding ticket
USAA $1,661
Nationwide $1,878
Erie $1,899
Travelers $2,062
Geico $2,150
State Farm $2,270
Progressive $1,826
Mercury $3,062
Allstate $3,312
Farmers $3,951

Mercury Car Insurance Comparison for Drivers Who Caused an Accident with Injury

In our analysis, it was found that Mercury has higher car insurance rates for drivers who are at fault in an accident resulting in injury to another person compared to other companies. According to our research on rates provided by leading insurers, the national average stands at $3,009 per year.

Company National average annual cost for drivers causing an accident with injury
USAA $1,958
Erie $2,224
Travelers $2,293
Nationwide $2,337
State Farm $2,428
Geico $2,748
Progressive $2,770
Mercury $3,860
Farmers $4,412
Allstate $4,545

Mercury Car Insurance Comparison for Drivers With a DUI

Mercury offers affordable auto insurance rates for individuals who have a DUI on their driving record. Getting a DUI can be an expensive error, and it is likely that you will experience a considerable rise in your car insurance premiums. Therefore, exploring different options is a strategy to potentially reduce the financial impact.

Company National average annual cost for drivers with a DUI conviction
Progressive $2,307
USAA $2,604
Travelers $2,610
Erie $2,665
State Farm $2,716
Nationwide $3,083
Mercury $3,172
Geico $3,723
Farmers $4,272
Allstate $4,315

Mercury Car Insurance Comparison for Drivers With Poor Credit

The rates of Mercury auto insurance for drivers with poor credit are quite competitive, being more than $250 lower than the national average of $3,847 per year. According to insurance companies, credit scores are indicative of a person’s probability to file insurance claims. Hence, individuals with poor credit often face significantly higher rates from auto insurers. However, it is worth noting that California, Hawaii, Massachusetts, and Michigan prohibit insurance companies from considering credit history when determining auto insurance rates.

Company National average annual cost for drivers with poor credit
Nationwide $2,051
USAA $2,450
Geico $2,482
Travelers $2,699
Progressive $3,221
Mercury $3,583
Erie $3,701
Allstate $4,531
Farmers $4,889
State Farm $7,961

Mercury Car Insurance Cost Comparison for Adding a Teen Driver

Mercury’s car insurance cost to add a teen driver to a parent’s policy is $2,318 a year, which is around $40 below the average. Adding a 16-year-old driver to a parent’s car insurance policy can increase rates substantially. Our analysis found that the national average cost is $2,359 a year, among the companies we analyzed.

Company Increase per year for adding a 16-year-old driver
Nationwide $893
Erie $1,606
Farmers $1,900
Geico $1,982
Progressive $2,062
Mercury $2,318
USAA $2,466
State Farm $2,622
Allstate $2,643
Travelers $2,728

Mercury Car Insurance Cost Comparison for Young Drivers Ages 18 to 25

Drivers between the ages of 18 and 25 can expect to pay significantly higher car insurance rates with Mercury. In fact, the cost is more than $1,300 above the national average of $3,704 per year when compared to other insurers we have analyzed. If you are a young driver seeking to lower your insurance costs, there are a few strategies you can consider. One option is to remain on your parent’s policy for as long as possible, as this can help reduce your premiums. Additionally, it is worth inquiring about any available student discounts that may be offered by Mercury or other insurers.

Company National average annual cost for young drivers
USAA $2,368
Erie $2,575
Travelers $2,638
Geico $2,781
Nationwide $2,881
State Farm $3,643
Progressive $3,704
Allstate $4,764
Mercury $5,044
Farmers $5,225

Mercury Car Insurance Cost Comparison for Senior Drivers Ages 65 to 80

Mercury’s car insurance premiums for drivers between the ages of 65 and 80 are slightly higher than those offered by leading competitors. According to our analysis of prominent insurers, the national average cost is $2,150 per year. Mercury surpasses this average by $110 annually.

Company National average annual cost for senior drivers
Nationwide $1,402
USAA $1,455
Travelers $1,668
Geico $1,793
Erie $1,831
Progressive $1,937
State Farm $2,009
Mercury $2,260
Allstate $2,996
Farmers $3,199

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Auto Insurance Complaints Against Mercury

Mercury has a relatively low rate of auto insurance complaints, as indicated by the complaints registered with state insurance departments nationwide. While Mercury’s complaint levels are slightly higher than those of certain competitors, they still fall below the average for the industry. The most frequent auto insurance grievances filed against Mercury pertain to delays in claims processing, inadequate settlement offers, and denials of claims.

Mercury’s Grade From Collision Repair Professionals: C

Mercury received a C grade in a survey conducted by CRASH Network among collision repair professionals. The insights provided by these professionals are highly valuable as they offer an insider’s perspective on various aspects such as insurance companies’ utilization of lower-quality repair parts, the extent to which insurers promote proper repair procedures, and the efficiency of car insurance companies’ claims processes in meeting customer satisfaction.

What Does Mercury Car Insurance Cover?

Mercury car insurance provides usage-based insurance, coverage for rideshare services, and roadside assistance. However, it does not include additional features such as accident forgiveness and new car replacement.

Does Mercury Car Insurance Offer Accident Forgiveness?

Unfortunately, Mercury does not provide accident forgiveness. However, there are certain insurance companies that offer this benefit, ensuring that your car insurance rates will not increase after being involved in an at-fault accident.

Does Mercury Car Insurance Offer New Car Replacement?

Unfortunately, Mercury does not provide coverage for the replacement of a new car. This type of coverage would give you the necessary funds to purchase a brand new car with the same make and model, after subtracting your deductible, in the event that your car is completely damaged. Usually, insurance companies only compensate for the depreciated value of a totaled vehicle.

Does Mercury Car Insurance Offer a Diminishing Deductible?

No, Mercury does not offer a diminishing deductible. The diminishing deductible feature is designed for safe drivers and lowers the amount of the deductible each year that you go without filing a claim.

Does Mercury Offer SR-22s?

Indeed, Mercury provides SR-22 insurance which is a form mandated by the court to confirm that you possess auto insurance. This particular form is usually necessary for individuals considered high-risk drivers, including those with a DUI conviction, those who have faced license suspension, and those with a history of multiple traffic offenses or accidents.

Does Mercury Offer Usage-based Car Insurance?

Mercury offers coverage for usage-based insurance through their app called MercuryGo. By using the app, drivers can receive a driving skill score that takes into account various factors such as speeding, acceleration, hard braking, cornering, distracted driving (such as phone usage), and road type. Using the app will also grant drivers an immediate 5% discount on their insurance policy.

Upon policy renewal, drivers may be eligible for a discount of up to 40%, depending on their driving skill score. In addition to providing insurance benefits, the app serves as a useful tool for parents to monitor their teenager’s driving habits. Real-time feedback is provided, including information on the time, location, and speed at which their teen is driving. Teen drivers aged 18 and younger will receive a participation discount of 10%. MercuryGo is currently available in Arizona, Florida, Georgia, Oklahoma, and Texas.

Does Mercury Offer Rideshare Insurance?

Indeed, Mercury provides rideshare insurance to drivers who work for companies like Uber or Lyft. One potential issue for rideshare drivers is the coverage gap that exists when the app is turned on but no ride has been accepted yet. If an accident occurs during this period, the coverage provided by the rideshare company’s insurance may be limited. However, Mercury’s rideshare insurance fills this gap and provides coverage for drivers in such situations.

Here’s how it works: When your rideshare app is on and you are waiting for a passenger request, Mercury’s rideshare insurance covers you. But once you accept a trip, your coverage will shift to the insurance provided by the rideshare company. To obtain rideshare insurance from Mercury, you will need to have a standard auto insurance policy with them. This additional coverage can be added at an extra cost, starting as low as 90 cents per day.

Does Mercury Offer Roadside Assistance Insurance?

Certainly, Mercury offers an elective roadside assistance service that can be added to your policy. This coverage includes towing services up to the stated limits, assistance from locksmiths in case of a lost, stolen, or locked-in key situation, battery jump starts, fuel delivery, and flat tire changes.

Mercury Car Insurance Grade from Collision Repair Professionals: C

Mercury was awarded a C grade in a survey conducted by CRASH Network, which involved auto body repair professionals. The insights of collision repair experts are highly valuable as they have firsthand knowledge about the claims processes of different insurers, including the speed and satisfaction levels of claim settlements for customers. They also observe whether insurers opt for lower-quality repair parts or promote the use of recommended repair procedures from car manufacturers.

Mercury Car Insurance Discounts

Mercury offers many discounts to help you save on auto insurance:

  • Anti-theft: For vehicles equipped with an anti-theft device.
  • Autopay: For customers who enroll in autopay.
  • E-signature: Sign policy documents electronically and get a discount.
  • Good driver: For avoiding at-fault car accidents and traffic violations.
  • Good student: For students who maintain at least a 3.0 grade point average, are in the top 20% of their class or have made the Dean’s list.
  • Multi-policy: For customers who bundle car insurance with a homeowners, condo or renters insurance policy.
  • Multi-vehicle: For insuring more than one vehicle with Mercury.
  • Pay-in-full: For paying the bill for your term up front.

More Insurance from Mercury

Here are more types of insurance available from Mercury:

  • Business auto insurance
  • Business owners insurance
  • Condo insurance
  • Landlord insurance
  • Mechanical protection
  • Renters insurance
  • Umbrella insurance

Mercury Car Insurance Mobile App

Mercury offers an additional app to help customers easily manage their insurance policies. Here are some of the things you can do:

  • 24/7 connectivity to roadside assistance.
  • Access policy documents.
  • Connect with an agent.
  • Get a quote.
  • Make payments.
  • Report a claim.
  • View digital ID cards.

Methodology

When searching for the best car insurance provider, there are several factors to consider. Firstly, it’s important to evaluate the auto insurance rates of each company and compare them to ensure you’re getting a fair deal. The coverage options offered by each provider should also be taken into account, as different policies may suit your individual needs better than others. Additionally, it’s worth looking at any complaints made against the company in question, as well as their collision repair process. By considering all of these factors, you can make an informed decision on which car insurance provider is right for you.

Auto insurance rates (50% of score)

In order to determine the average rates for different types of drivers, such as good drivers, those who have caused an accident, those with a speeding ticket, those with a DUI, those with poor credit, those caught without insurance, adding a teen driver, senior drivers and young drivers, we utilized data provided by Quadrant Information Services. It is important to note that unless specified otherwise, the rates discussed are based on a 40-year-old female driver with a Toyota RAV4 and coverage as follows:

  • $100,000 for injuries to one person, $300,000 for injuries per accident and $100,000 of property damage (known as 100/300/100).
  • Uninsured motorist coverage of 100/300.
  • Collision and comprehensive insurance with a $500 deductible.

Car insurance coverage options (25% of score)

All auto insurance providers have the ability to offer fundamental liability insurance, collision and comprehensive coverage, as well as other standard options. However, it is equally important to have access to additional types of coverage that can offer increased protection or potential cost savings. Within this category, we awarded points to companies that provide accident forgiveness, new car replacement, deductibles that decrease over time, usage-based or pay-per-mile insurance, and SR-22s.

Complaints (20% of score):

The data we utilized for complaints originated from the National Association of Insurance Commissioners. The responsibility of logging and monitoring complaints against companies operating within their respective states lies with each state’s department of insurance. The majority of complaints regarding auto insurance revolve around claims, such as inadequate settlements, delays, and rejections. Companies that have a ratio below 1.00, which is the industry complaint average, demonstrate lower levels of complaints.

Collision repair (5% of score)

We evaluated the performance of insurance companies in terms of collision repairs based on input from professionals in the field. The data we utilized was sourced from CRASH Network, a weekly newsletter that focuses on the collision repair and auto insurance industries. CRASH Network’s Insurer Report Card relies on feedback from over 1,000 collision repair professionals to assess the quality of collision claims service provided by various auto insurers.

Summary

Mercury Car Insurance is a reputable insurance provider that offers a range of coverage options to meet your specific needs and budget. With their excellent customer service, competitive rates, and comprehensive policies, Mercury Car Insurance is a reliable choice for ensuring the protection of your vehicle. Whether you’re looking for basic liability coverage or more extensive coverage options, Mercury Car Insurance has got you covered. Don’t wait any longer – get a quote from Mercury Car Insurance today and experience the peace of mind that comes with knowing you’re protected on the road.

Mercury Car Insurance Review Faqs

What is Mercury Insurance’s AM Best rating?

Mercury Insurance has an AM Best rating of A (Excellent). The highest rating that AM Best issues is A++ (Superior). AM Best rates the financial strength of an insurance company to determine the financial health of an institution and to identify any potential solvency issues. In essence, AM Best determined that Mercury Insurance has a strong balance sheet performance and strong operating performance.

Is Mercury Insurance a reputable company?

Mercury Insurance is a reputable insurance provider, as seen by its A financial strength rating from AM Best and A- score from the BBB. The company provides auto insurance coverage for drivers in 11 states and holds a relatively strong industry reputation.

Is Mercury good at paying claims?

Mercury Insurance does not have a good record of paying out claims. In the J.D. Power 2022 U.S. Auto Claims Satisfaction StudySM, Mercury was the well below the industry average for customer satisfaction during the claims process, and scored the second-worst in the study.

What are the ratings for Mercury Insurance?

We give Mercury Insurance 3.7 out of 5.0 stars for its affordable rates but uninspiring customer service standards. While some auto insurance companies offer stronger coverage and claims processes, Mercury Insurance reviews say the provider is at least worth a look.

What states does Mercury Insurance write in?

Mercury Insurance writes insurance policies in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia.

How do I cancel Mercury Insurance?

The best ways to cancel a Mercury car insurance policy are by calling your local agent or meeting with an insurance agent in person. You cannot cancel a Mercury auto insurance policy online.

Does Mercury Insurance have a cancellation fee?

Does Mercury Insurance have a cancellation fee? Mercury Insurance charges a cancellation fee if you cancel your auto insurance policy before the end of your term. This is usually around 10% of the remaining amount left to pay on your policy, but you should check with your insurance agent before canceling.

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