Farmers vs. Mercury Insurance

Which insurance company is right for you? Compare insights, rates, and quotes from Farmers and Mercury.

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Farmers vs. Mercury: What You Need to Know

Farmers Insurance began selling insurance a year before the Great Depression and survived to become a household name. Founders John C. Tyler and Thomas E. Leavey started off by going farm to farm to gain their first policies. They specifically lowered rates for farmers and ranchers because they understood that these occupations posed fewer risks with their vehicles. By 1928, they were able to open an office in downtown Los Angeles. During the Great Depression, Farmers was one of the few companies that were able to pay claims. When a devastating earthquake hit Los Angeles, Farmers paid out claims for damaged cars and became the first insurance company to offer comprehensive insurance.

George Joseph founded Mercury General Corporation in Los Angeles with a promise to provide more affordable rates than other carriers and the best customer service in the industry. The first policy was sold in 1962 when the company had only six employees and 90 agents. Two years later MercuryInsurance opened an office in Orange County, CA. In 1966 they opened their first office in the San Fernando Valley and a year later earned an A+rating from A.M. Best. They continued expanding in southern California with an office opening in San Diego. In 1968 Mercury established a holding company, then acquired shares of Mercury Casualty Company and made it a wholly-owned subsidiary of Mercury General Corp. They then moved into their newly opened San Jose office. In 1970, Mercury wrote $1 million in premiums in one month and grew to employ 467 agents. In 1972 they sold their first homeowners policy. In 1973 Mercury formed a subsidiary for underwriting preferred risk, thereby increasing business using a 34-page manual written by the company’s founder. In 1974, Mercury opened its first Sacramentooffice and by 1977, Mercury Insurance becomes the largest insurance subsidiary, producing over $1 billion in premiums by 2011. In 1978, Mercuryestablished a Special Investigations Unit (SIU) to fight insurance fraud.

Below is a list of average rates, rankings, products, and discounts for the two companies. For full company overviews, you can visit Farmers Overview and Mercury Overview.

Farmers vs. Mercury: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with Farmers and Mercury. On average, Farmers charges approximately $264.40 per month while Mercury comes in at around $218.87 per month. For Farmers, the cheapest state average is North Dakota at $112.50 per month and the most expensive is Michigan at $712.11 per month. For Mercury, the cheapest state average is Virginia at $135.16 per month and the most expensive is Florida at $300.67 per month.

Farmers

Average Rate

$264.40
Mercury

Average Rate

$218.87
National

Average Rate

$117.77
State Farmers Mercury
Alabama $195.20 -
Arizona $260.68 $194.07
Arkansas $192.40 -
California $258.23 $172.66
Colorado $289.21 -
Florida- $300.67
Georgia- $203.18
Idaho $123.45 -
Illinois $199.08 $152.12
Indiana $136.14 -
Iowa $141.59 -
Kansas $197.95 -
Michigan $712.11 -
Minnesota $168.82 -
Missouri $203.54 -
Montana $192.46 -
Nebraska $197.97 -
Nevada $313.07 $296.83
New Jersey- $227.85
New Mexico $217.58 -
North Dakota $112.50 -
Ohio $146.86 -
Oklahoma $165.64 $157.01
Oregon $173.29 -
South Dakota $119.82 -
Tennessee $157.88 -
Texas- $221.75
Utah $220.13 -
Virginia- $135.16
Washington $153.41 -
Wisconsin $165.74 -
Wyoming $203.01 -

Farmers vs. Mercury: Rates by Number of Vehicle

Home

Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Farmers and Mercury typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Farmers Mercury
1 Vehicle $244.72 $199.10
2 Vehicles $325.39 $278.84
3 Vehicles $565.26 $480.58
4 Vehicles $ $522.70

Farmers vs. Mercury: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Farmers charges $258.87 per month and Mercury charges $213.23 per month for customers who own their home.

Own/Rent Farmers Mercury
Own $258.87 $213.23
Rent $267.76 $222.28

What is Farmers and Mercury Insurance Rating?

Which car insurance company is better? We've made it easy to compare companies side by side. See how Farmers and Mercury ranked among the industry ratings.

ComparisonFarmersMercury
Year Founded19281962
Market Share3%1.13%
A.M. Best RatingA-
BBB RatingA+A+
Financial StrengthExcellentExcellent
JD Power RankingAbout AverageAverage
Moody’s RatingA2Baa2
NAIC Complaint Index0.8
S&P RatingAA

Farmers or Mercury: Insurance Products Offered

What coverage is available through Farmers and Mercury? Both insurance companies offer Auto, Commercial, Home, and Umbrella insurance. Additional products from Farmers insurance also includes Life, Motorcycle, and RV insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit Farmers and Mercury Insurance page.

InsuranceFarmersMercury
Auto Insurance
Commercial Insurance
Condo Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Farmers or Mercury: Ways To Save

Mercury offers a wide range of discounts to its policyholders, including Auto Pay, E-signature, and Good Driver discounts. Whereas, Farmers also offers a few discounts that Mercury doesn’t, including Transfer, Teen Driver, and Homeowner discounts. Start taking advantage of discounts offered by insurance providers like Mercury and Farmers insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

FarmersMercury
Alternative Fuel DiscountAnti-theft Feature Discount
Distant StudentAuto Pay Discount
Electronic Funds Transfer (EFT) DiscountE-signature Discount
Good StudentGood Driver Discount
Homeowner DiscountGood Student Discount
Multi-Car DiscountMulti-car Discount
Multi-policy DiscountMulti-policy Discount
Occupational DiscountOccupational Discount
Pay-in-Full DiscountPay-in-Full Discount
Teen Driver Discount
Transfer Discount

Pros & Cons of Farmers & Mercury

Pros

Farmers
  • Financial strength
  • Great employee education and customer service.
Mercury
  • Offers low rates and excellent coverage for homeowners, condo, renters, umbrella, auto, mechanical breakdown, business auto and business insurance in 13 states.

Cons

Farmers
  • Steep early-cancellation fees.
Mercury
  • Mercury Insurance is only available in 13 states.
  • Not all discounts are available in all 13 states.

Farmers or Mercury Mobile Apps Options

The Farmers app is available for iOS and Android. The Farmers Mobile App allows you access to self-service features.

The Mercury Mobile app is available for android. This insurance tool is where you can manage payments, view auto policy information, download ID cards and more.

Farmers Mobile App
iOS     4.83K user reviews
Android     43K user reviews
Mercury Mobile App
iOSN/ANot Available
Android     2.7200 user reviews

Farmers & Mercury Contact Info

Farmers Contact Info
Address6301 Owensmouth Avenue, Woodland Hills, CA 91367
Phone1 (800) 974-6755
Websitehttps://www.Farmers.com
Facebookhttps://www.facebook.com/FarmersInsurance/
Twitterhttps://twitter.com/WeAreFarmers
Youtubehttps://www.youtube.com/farmersinsurance
Linkedinhttps://www.linkedin.com/company/farmers-insurance/
Mercury Contact Info
Address4484 Wilshire Boulevard Los Angeles, California
Phone1 (800) 503-3724
Websitehttps://www.mecuryinsurance.com
Facebookhttps://www.facebook.com/MercuryInsurance
Twitterhttps://twitter.com/mercuryins
Youtubehttps://www.youtube.com/mercury
Linkedinhttps://www.linkedin.com/company/mercury-insurance

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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