Mercury Insurance – An Overview

Mercury General Corporation, also known as Mercury Insurance or Mercury, is a large American insurance company founded in 1961. The Los Angeles-headquartered company employs 4,500 people across the United States while offering car insurance, homeowners insurance, renters insurance, and business insurance to customers in 11 states. In 2018, Mercury earned $3.4 billion in revenue. The company currently sits just outside of the top 20 largest car insurance companies in the United States.

Mercury Insurance History

Mercury General Corporation was founded by George Joseph in Los Angeles in 1961. Before launching his own insurance company, Joseph had flown 50 World War II missions over Africa and Italy as a navigator. Upon returning to the United States, he graduated from Harvard with a math degree in 1949.

In 1989, Mercury expanded outside of California for the first time, opening offices in Georgia and Illinois. The company soon expanded to Florida, New York, and Virginia.

Today, Mercury is one of California’s largest insurance companies. The company sells car insurance in 11 states, including Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia. Mercury primarily focuses on auto and homeowners insurance. However, the company also writes personal liability policies (i.e., umbrella insurance), business insurance, renters and homeowners insurance, and other policies.

Mercury Insurance Rankings

mercury insurance reviewMercury is generally a well-regarded insurance company. In 2017, Mercury was ranked as one of the top five best auto insurance companies by Insure.com, for example, based on a survey of 4,000 policyholders across the United States. Mercury beat out many of its larger competitors.

In the latest J.D. Power rankings, Mercury scored about average compared to its competitors in terms of insurance shopping and claims satisfaction:

Insurance Shopping (Auto): Among the rest

Auto Insurance Claims Satisfaction: Among the rest

Mercury has been awarded an “A” or “Excellent” rating from A.M. Best, which analyzes the financial strength of insurance companies. That indicates that Mercury should have no issue paying its claims. However, many of Mercury’s competitors have scored an A+ rating or higher from A.M. Best.

Mercury also had fewer than the median number of complaints to state regulators for auto insurance in 2018 relative to its size, according to the NAIC, indicating that fewer customers complained about Mercury to state agencies than with other companies of a similar size.

What Makes Mercury Insurance Unique?

Mercury has several features that make it unique:

Only Available in 11 States: Unlike most large car insurance companies in America, Mercury only sells car insurance companies in 11 states, including Arizona, California, Florida, Georgia, Illinois, New Jersey, Nevada, New York, Oklahoma, Texas, and Virginia.

Home and Renters Insurance: In addition to car insurance, Mercury sells home insurance, renters insurance, business insurance, and other insurance products, making it easy to bundle multiple policies together for savings.

Mobile App: Like all other major insurance companies, Mercury has a mobile app where you can pay bills, view documents, download car insurance ID cards, and contact an insurance agent.

Umbrella Insurance: Mercury provides comprehensive umbrella insurance for personal liability, helping policyholders stay protected against a wide range of circumstances.

Is Mercury a Good Insurance Company? Our Review

Mercury is generally a well-rated and well-regarded insurance company, scoring well in most rankings according to policyholders. The company has a wide range of insurance products for homeowners, vehicle owners, and business owners. And, instead of expanding across the country rapidly at the expense of customer service, Mercury has gradually rolled out insurance products in new states over the years, allowing it to maintain a smaller feel than larger companies.

Mercury is also ideal for those who need more than just car insurance. Mercury’s home insurance, for example, comes with options like identity theft protection and management, coverage for large appliances and equipment repairs, service pipe coverage, extended replacement cost, valuable coverage, and cyberattack coverage, among other bonus options. Overall, Mercury’s home insurance is well-regarded and well-rated.

Additionally, Mercury is well-regarded by the NAIC, which tracks the number of complaints about a car insurance company to state regulators. J.D. Power and A.M. Best rank Mercury as about average in terms of other categories.

It’s also important to note that Mercury is particularly well-rated in California, where the company is one of the state’s largest car insurance providers. For drivers in California, Mercury is often able to offer the best combination of value and service for car insurance.

Mercury Auto Insurance Policies and Products

Mercury has several different car insurance policies and products that distinguish it from competitors, including:

Rideshare Insurance: Most major car insurance companies now offer rideshare insurance, including Mercury. Mercury’s rideshare insurance covers Uber and Lyft drivers when they’re not covered by Uber or Lyft insurance (i.e., between rides).

Mechanical Protection: This optional coverage works as an extended warranty for your car. It covers significant vehicle failures and breakdowns. There are several coverage levels for new and used vehicles. You can protect your vehicle against mechanical breakdowns for the first seven years or 100,000 miles, for example (whichever comes first). There’s also no limit to the number of claims you can make.

Rental Car Coverage: Mercury offers similarly-priced rental car coverage compared to its competitors, covering you if your vehicle is in the shop and you need to rent a replacement.

Roadside Assistance: Mercury lets you add roadside assistance to your car insurance policy, covering you for towing, battery recharges, tire changes, locked doors, and more.

Multiple Discounts: Like all other car insurance companies, Mercury offers a range of discounts. Popular and unique Mercury discounts include homeowner insurance bundling discounts, e-signature discounts, multiple-car discounts, anti-theft device discounts, and good student discounts, among others.

Final Word

Overall, Mercury isn’t the largest or best-known car insurance company in the United States. However, in states where Mercury is available, it’s typically regarded as one of the better options in the area. Mercury is one of the largest car insurance companies in California, for example, and has now expanded to ten other states.

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