Mercury Auto Insurance Review

Mercury Auto Insurance bills itself as an insurance company that believes that policyholders can have the best of both worlds: low premiums and adequate coverage.

Of course, this doesn’t mean you should start creating a policy with them immediately; take a moment to read the available Mercury Auto insurance reviews so you can make an informed decision.

mercury auto insuranceOver the course of its fifty-plus years in business, Mercury Auto Insurance has become the fourth-largest private passenger insurer in California, and one of the fastest-growing insurance companies in the nation.

When you combine those stats with the fact that the company made Insure.com’s Top Five Insurance Companies for 2018 and Forbes included it on its 2018 America’s Best Mid-Size Employers list, you can see that Mercury Auto is a company whose growth probably won’t stop anytime soon.

Coverage Options

Like most auto insurance companies, Mercury Auto offers quite a few different coverage options including:

Liability Coverage

Your liability coverage is the part of your auto insurance policy that most states require you to carry. It protects you from property damage and/or personal injury claims in the event you’re found at fault in an accident.

Personal Injury Protection Coverage

Coverage of your medical payments is an optional add-on to your liability coverage. It pays the cost of medical bills for you and anyone riding in your car in the event of an accident.

Comprehensive and Collision Coverage

When people refer to “full-coverage” insurance, they are actually talking about comprehensive and collision coverage. These two policy add-ons pay for necessary repairs to your vehicle in the event of a loss.

Underinsured Motorist Coverage

Even though most states require that drivers carry a minimum amount of liability insurance, not all drivers are responsible. Also, in some cases, the state’s minimum requirement amount may not fully cover a claim.

Underinsured motorist coverage gives you additional coverage for your vehicle—just in case the at-fault party runs short.

Claims Satisfaction

One of the main factors that you should consider as you search for good auto insurance coverage is how companies process their claims.

Even if you’ve never been involved in an accident in your life, it’s still crucial that your insurance company provides good claims service because unless you’re making changes to your policy, practically the only contact you’ll ever have with it is when you need to file a claim.

The 2017 Auto Claims Satisfaction Study completed by J.D. Power lists Mercury Auto in their “The Rest” category when it comes to claims satisfaction. Mercury Auto insurance rankings were sub-par in most of the categories the study included. However, the company did receive an “About Average” ranking in the estimation process, repair process, and settlement categories.

Its three “About Average” rankings placed Mercury Auto directly under Liberty Mutual. It did beat out COUNTRY Financial and Safeco in the claims satisfaction study, however, to achieve the third-to-last spot on the list.

When you look at the three key performance indicators–communication, timeliness, and ease of service interaction–Mercury Auto insurance ratings show an about average customer service experience in claims processing.

Customer Satisfaction

While it’s definitely important that companies handle claims quickly and efficiently, there are other aspects of the customer/insurer relationship that you should also take into consideration.

When you study Mercury Auto insurance reviews, look at how well the company handles the purchase experience, complaints, customer service, and other important communications with their customers.

According to the J.D. Power 2018 Shopping Study, Mercury Auto lands at the bottom of the list, which means that companies like Allstate and MetLife rank a bit higher in categories such as pricing, policy offerings, and the availability of local agents. Mercury Auto had no study result posted under Call Center Representative or Insurer Website field, and that leaves them averaging 2 power circles (out of a possible 5) in the posted categories.

The J.D. Power 2018 U.S. Auto Insurance Study for California gave Mercury Auto “About Average” rankings in the price, policy offerings, and interaction categories, which show that Mercury Auto insurance ratings are good in the state where it does most of its business. The Mercury Auto insurance reviews in Florida also reveal the company as a pretty average insurer, especially in the price, interaction, and claims categories.

When it comes to complaints against the company, however, Mercury Auto excels. The 2017 California Consumer Complaint Study ranked Mercury Auto at number 13 out of 50, with a justified complaint ratio hovering around 2.7. The company outranked many larger companies, including State Farm, GEICO, and USAA.

When you look at this study, which focuses on the U.S.’ s most populated state, it’s evident that Mercury Auto is doing an excellent job at pleasing its local customers.

Pricing

The price of an auto insurance policy depends on a multitude of variables, including the year, make and model of your vehicle, where you live, your age, and your gender.

The California Department of Insurance (and some other states as well) handily provides a rate calculator to help determine how the different variables affect your premium. For example, a single male living in San Francisco, California, licensed between nine and 15 years, driving a Toyota Camry with no violations, and who drives between 12,000 and 15,000 miles per year, shows a basic liability annual premium of $868.

This falls in the lower third of comparable carriers’ premiums, with USAA’s rates slightly lower at $782 and State Farm’s a bit higher at $949.

Take this same male driver and move him to Ocean Beach, San Diego, and his premium is only $628, much less than State Farm ($896) or even USAA ($750).

Add on one ticket and keep all other variables the same and his premiums jump to $756. These fluctuations remind you that it is important to provide all the pertinent information when you go quote shopping.

Mercury Auto insures consumers in several states. As demonstrated in the example above, it’s always advisable to get a quote based upon your specific geographical area as that is a prime factor in determining costs.

Financial Strength

It’s important to assess an insurance company’s financial strength before purchasing a policy because you need to make sure the insurer is able to pay filed claims in the case of a major disaster.

Fortunately, a quick look at Mercury Auto insurance reviews as regards the company’s financial status shows that the company is financially secure, although the company’s heavy concentration of clients residing in California’s earthquake regions provides an increased risk of catastrophic exposure.

A.M. Best gave Mercury General Corporation and all of its subsidiaries an A+ financial strength rating and an issuer credit rating of A-. Additionally, it lists the company’s overall financial outlook as stable. Moody’s assigned Mercury Auto a Baa2 which puts the company squarely in average contention with a stable outlook as well.

*While we make every effort to keep our site updated, please be aware that “timely” information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.