Mercury Car Insurance Review 2020 – Investopedia

Execs Defined

• Mechanical safety insurance coverage out there – You should purchase mechanical safety insurance coverage to get protection for repairs to your automobile after the producer’s guarantee expires.
• Rideshare insurance coverage out there as an endorsement – In some states you may add a rideshare endorsement to your coverage in the event you drive for companies comparable to Uber or Lyft. By including this rider to your coverage, you’ll get protection for the hole by which you’re not protected by the rideshare firm’s coverage.
• A number of reductions out there – Mercury has a number of low cost packages that may decrease your insurance coverage premiums, together with autopay, good driver, and a number of coverage reductions.

Cons Defined

• Solely operates in 11 states – Mercury isn’t out there to residents of all 50 states. It solely writes automotive insurance coverage insurance policies in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia.
• Restricted on-line account administration – When you can create a web based account with Mercury to make funds and obtain ID playing cards, there may be little else you are able to do. Whereas different automotive insurance coverage firms permit you file claims on-line or add protection, Mercury doesn’t provide these choices. To make any modifications or file a declare, you could name and converse to an agent.
• Decrease-than-average buyer satisfaction rating – Relating to its buyer satisfaction, communication, and pricing, Mercury obtained poor marks within the J.D. Energy 2019 U.S. Auto Claims Satisfaction Examine. Mercury was ranked 22nd out of 23 automotive insurance coverage firms, with a ranking nicely beneath the business common.

Mercury Automotive Insurance coverage Protection Choices

Whereas different firms provide sturdy protection choices such spare elements insurance coverage, custom-made gear safety, and hole protection, Mercury gives primary auto insurance coverage with some optionally available enhancements you may add to customise your coverage. It means that you can get a quote on-line in the event you dwell in one of many 11 states by which it operates, or you may contact an agent for a customized quote.

Mercury has the next coverages:

Collision

Whereas collision protection isn’t required by most states, it might be a good suggestion so as to add it to your coverage. Collision safety pays for repairs to your automobile after it’s been in an accident, or it might pay for a alternative if the automotive is asserted a complete loss.

Complete

Complete protection is optionally available insurance coverage that pays for injury to your automobile resulting from circumstances apart from accidents. For instance, it will cowl repairs to your automotive after a hail storm, a flood, or an act of vandalism.

Legal responsibility

Legal responsibility protection protects you in case you are in an accident and located legally chargeable for damages brought about to an individual or property. There are two classes of legal responsibility safety:

• Bodily Harm Legal responsibility – Bodily damage legal responsibility pays for damages that the opposite driver or passengers expertise after an accident, together with medical bills and misplaced wages.
• Property Injury Legal responsibility – Property injury legal responsibility pays for repairs to the opposite social gathering’s automobile or property.

Medical Funds

You’ll be able to add medical funds protection to your coverage to pay for medical bills that come up after a coated accident. It applies to you and your passengers, no matter who was at fault through the accident.

Private Harm Safety (PIP)

Relying on the place you reside, you might want PIP. Some states, together with Florida, New Jersey, and New York, require all drivers to have this protection, which is also referred to as “no-fault insurance coverage.” It pays on your medical prices and different bills after an accident, even in the event you weren’t at fault.

Rental Automotive

In the event you’re in an accident and your automotive wants repairs, rental automotive safety might help you get to and from work or faculty. Rental automotive protection is optionally available, and Mercury will offer you a rental automobile whereas your automotive is being repaired. Protection limits vary from $30 to $100 per day for as much as 30 days.

Rideshare

Mercury’s ride-hailing insurance coverage, extra generally generally known as “rideshare insurance coverage,” is an optionally available rider you may add to your private auto coverage in the event you drive for companies comparable to Uber or Lyft. You will get safety for while you aren’t coated by the rideshare firms’ insurance coverage for as little as $0.90 per day.

Roadside Help

Roadside help is an optionally available profit you may add to your coverage to get assist along with your automobile if it received’t begin. Mercury’s roadside help covers towing (as much as set limits), locksmith companies, battery leap begins, flat tire modifications, and emergency gasoline and fluid supply.

Uninsured/Underinsured Motorist

If you’re in an accident with a driver who’s uninsured or who has inadequate protection, uninsured motorist insurance coverage and underinsured motorist insurance coverage pay on your medical bills and repairs to your automobile after an accident.

Mercury Automotive Insurance coverage Reductions

Mercury has a number of reductions that may decrease your insurance coverage premiums, together with:

• Anti-Theft Low cost – Drivers who put in anti-theft units on their automobiles can qualify for this low cost.
• Autopay Low cost – In the event you join computerized funds, you will get a further low cost.
• E-Signature Low cost – In the event you’re prepared to signal your coverage paperwork electronically, you will get a discount in your premiums.
• Good Driver Low cost – In the event you go a specified time with out an accident, you may qualify for a price discount.
• Good Pupil Low cost – College students who do nicely at school could also be eligible for a reduction. Converse to a Mercury agent to see who qualifies as scholar in your space.
• A number of Automotive Low cost – In the event you insure two or extra automobiles, you will get a premium low cost.
• A number of Coverage Low cost – Bundle your coverage with owners, rental, or renter’s insurance coverage to avoid wasting in your automotive insurance coverage.
• Pay-in-Full Low cost – In the event you can afford to pay your annual premiums up entrance relatively than in month-to-month or quarterly installments, you’ll get a reduction.
• RealDrive Low cost – With Mercury’s RealDrive initiative, you may qualify for a 5% low cost simply by enrolling in this system. Your price is predicated on what number of miles you drive; the less you rack up, the much less you’ll pay.

Reductions can fluctuate by state, so contact a Mercury insurance coverage agent to see what reductions you’re eligible for and get an in depth quote.

Mercury Automotive Insurance coverage Availability

Mercury solely insures vehicles in 11 states: Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia. In the event you dwell in one other state, you’ll must get insurance coverage from a special firm.

Mercury Buyer Service

For any points associated to your coverage or protection, you need to contact your agent immediately. For basic questions not associated to your coverage or protection, you may name 800-503-3724 to achieve Mercury’s customer support division.

Mercury was ranked 22nd out of 23 automotive insurance coverage firms within the J.D. Energy 2019 Auto Claims Satisfaction Examine. The research ranked firms primarily based on their product choices, pricing, communications, and buyer interactions, and Mercury’s ranking was nicely beneath the business common.

AM Finest is a credit standing company devoted to the insurance coverage business. Its Monetary Energy Rankings are the company’s opinion on how financially secure an organization is and the way seemingly it’s to honors its contracts and insurance policies. In 2020 AM Finest affirmed that it gave a Monetary Energy Ranking of A (Wonderful) to Mercury.

Criticism Index

Earlier than deciding on a automotive insurance coverage firm, it’s sensible to analysis what number of complaints are submitted concerning the firm every year. The Nationwide Affiliation of Insurance coverage Commissioners (NAIC) collects all complaints that customers submit about completely different insurance coverage firms. The NAIC makes use of that data to launch firms’ grievance ratios, a quantity that displays the variety of complaints the businesses obtain relative to their market share.

A grievance ratio above 1.Zero means the corporate obtained extra complaints than is typical for its dimension, whereas a ratio beneath 1.Zero means the reverse. In 2019 Mercury’s grievance ratio for personal passenger auto insurance coverage was 1.29, barely above the nationwide grievance index.

Different Insurance coverage Supplied by Mercury

Mercury gives a number of different insurance coverage merchandise, together with:

Learn how to Make a Automotive Insurance coverage Declare With Mercury

Whereas different firms can help you begin the claims course of on-line, Mercury requires you to file a declare over the cellphone. You’ll be able to attain the claims middle at 800-503-3724. If you file your declare, the Mercury consultant will provoke the claims course of and clarify the following steps.

Mercury Automotive Insurance coverage Cancellation Coverage

To cancel your automotive insurance coverage coverage, contact your Mercury insurance coverage agent. You’ll sometimes must submit a written cancellation request specifying while you need your coverage to finish and your cause for canceling.

Get a Mercury Automotive Insurance coverage Quote

With Mercury, you will get a quote for auto insurance coverage on-line. Nevertheless, you’ll have to talk with an agent to buy a coverage. You’ll be able to sometimes meet with an agent in particular person or speak over the cellphone throughout regular enterprise hours.

When getting a quote, you’ll be requested for the next details about your automotive and your self:

• 12 months, Make, and Mannequin
• Financing Data
• Estimated Annual Mileage
• Birthday
• Driver’s License Quantity
• Social Safety Quantity
• Driving Report
• Gender 
• Marital Standing
• Zip Code

Examine Different Automotive Insurance coverage Evaluations

In the event you dwell in one of many states the place Mercury is licensed to challenge auto insurance coverage insurance policies, the corporate might be an reasonably priced choice for automotive insurance coverage. Nevertheless, Mercury lacks the additional protections that different firms provide. In the event you’re searching for extra coverages and more-responsive customer support, you may seemingly discover higher choices with one other insurance coverage firm.

Methodology

Investopedia is devoted to furnishing shoppers with unbiased, complete evaluations of automotive insurance coverage suppliers. We reviewed every insurance coverage supplier’s protection choices, out there reductions, buyer companies, and satisfaction rankings to make sure that our content material helps customers make the proper insurance coverage determination for his or her wants.

Let’s block advertisements! (Why?)