Mercury Insurance: Company Overview

With an A+ rating from the BBB, Mercury has been serving its customers since 1962.

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About Mercury

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 Mercury Insurance 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 Sacramento office and by 1977, Mercury Insurance becomes the largest insurance subsidiary, producing over $1 billion in premiums by 2011. In 1978, Mercury established a Special Investigations Unit (SIU) to fight insurance fraud.

By the mid-1980s Mercury was the largest writer of private passenger auto insurance in California. In 1985,the company goes public on NASDAQ at $19 a share. By 1989, Mercury began expanding beyond California and by 1992 employed more than 1,200 people. In 1996, Mercury acquired American Fidelity Insurance Group, which expanded business in Oklahoma, Texas and Kansas. In the same year, Mercury’s common stock began trading on the New York Stock Exchange (MCY). By the end of 1997, Mercury doubled premium volume and reached $1.08 billion in sales. The company had 7.2 percent market share in California, with Mercury insuring more than 1 million vehicles across the state. In 1998, Mercury issued its first policy in Florida and entered the New York and Virginia Markets by 2001. In 2002 the company celebrated its 40th anniversary and the next year they write more than 2.25 billion premiums and expand into New Jersey market. The following year, Mercury begins selling home and umbrella coverage in addition to auto.

In 2004, Mercury increased market share in California to 9% and opened offices in Arizona, Michigan, Nevada and Pennsylvania, with underwriting profits reaching $273 million. By 2005, the company’s total assets exceeded $4 billion and net premiums exceeded $3 billion by 2006. By 2008 Mercury had 4,700 independent agents and brokers in 13 states with $1.5 billion in shareholders’ equity. In 2009, Mercury made the list of America’s Most Trustworthy Companies three years in a row and purchased AIS Insurance, the nation’s largest independent insurance agency. Mercury is now one of the largest insurance companies in the country. Boasting more than $4 billion in assets, today Mercury insures people in 11 states. The company slogan is “Mercury provides everything you need in an insurance company.”

Mercury Facts & Ratings

Year Founded 1962
Market Share 1.13%
Financial Strength Excellent
JD Power Ranking Average
BBB Rating A+
Moody’s Rating Baa2
S&P Rating A

Mercury Mobile App Rating

iOS N/A Not Available
Android 2.7 200 user reviews

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.

Pros & Cons of Mercury

  • Offers low rates and excellent coverage for homeowners, condo, renters, umbrella, auto, mechanical breakdown, business auto and business insurance in 13 states.
  • Mercury Insurance is only available in 13 states.
  • Not all discounts are available in al 13 states.

Common Questions about Mercury

How much is Mercury insurance for drivers under 21?

Inexperienced and young drivers pay some of the highest insurance rates. To see how much you can save on car insurance, you can compare auto insurance quotes here on SmartFinancial.

What does Mercury mechanical protection cover?

Mercury mechanical protection is roadside assistance with an extended warranty that takes care of specific repair costs when your vehicle breaks down.

Does Mercury have good customer service?

Founder George Joseph envisioned that Mercury Insurance would offer more affordable car insurance rates with superior customer service. Mercury’s customer service gets favorable ratings.

What does Mercury renters insurance cover?

Mercury renters insurance covers your possessions and valuables in the event of fire, theft or other covered loss. It also has liability protection if someone is injured on your property or if there is damage caused to others as a result of a covered event.

Does Mercury home insurance cover mold?

Home insurance covers mold only if it was caused by a covered peril. For instance, flood is not covered by homeowners insurance (you have to buy a flood policy separately), so mold damage caused by flooding would not be covered. If you experience mold after a covered peril, you would be covered.

How do I get my Mercury insurance card online?

Log into your online Mercury account in order to print out your ID cards.

Does Mercury insurance have accident forgiveness?

No Mercury doesn’t offer accident forgiveness. If you’re interested in that option, you can shop and compare quotes from other carriers.

What is an occupational discount with Mercury?

Many occupations are given lower rates over others by insurance companies. While each company has their own equations for how they derive risk, they all tend to find certain discounts mean less driving or less risk-taking behaviors. Other occupational discounts sometimes apply to police officers or firefighters and other such careers. Ask your insurance agent if you qualify for a discount.

Is Mercury RealDrive® a good idea?

Mercury’s ReadDrive is based on how much you drive and could potentially save you some money (5%) but only if you don’t drive very much.

Can I bundle renters and car insurance with Mercury?

Yes, you also earn a discount when you bundle renters and car insurance with Mercury.

Does Mercury have rideshare insurance?

Yes, Mercury has rideshare insurance, which is called Ride-Hailing coverage.

How much does Mercury insurance cost?

Insurance rates are determined according to several factors, including driving history and marital status. Our inhouse reporting found that the average montly rate was about $252.

What does Mercury condo insurance cover?

Mercury condo insurance covers household items in the event of a fire, theft or other covered loss. It provides additional property protection for antiques, art, jewelry and move. Mercury also provides coverage for fixtures and improvements that may not be covered by a condo association policy. Other coverages include loss assessment, additional living expenses, personal liability protection, guest medical protection, landlord insurance (if you rent out your condo to others) and workers’ comp coverage (if you hire employees like nannies/maids, etc.

Is a joint policy with Mercury insurance good?

Joint car insurance with Mercury has benefits and savings. Joint auto insurance can be a match for two separate individuals who share a car or for households with multiple vehicles.

Mercury Insurance Products

Auto Insurance Homeowners Insurance
Renters Insurance Condo Insurance
Umbrella Insurance Dwelling Fire Insurance
Business Auto Insurance Business Insurance
Mechanical Protection Ride-Hailing Insurance
Service Line Protection Home Systems Protection
Identity Management Protection

Mercury Auto Insurance Coverage

Bodily Injury Liability

This coverage protects bodily injuries to the other driver in an accident that was your fault.

Property Damage Liability

This coverage protects against property damage and loss of use for the third party.

Comprehensive Coverage

This protection covers damages and loss other than that caused by a collision. It is subject to a deductible.

Collision Coverage

This protection covers damages and loss caused by impact with another automobile, object or person. It is subject to a deductible.

Medical Payments

This protection covers you if you’ve been injured in an accident, regardless of who’s at fault. Coverages include income continuation, loss of services, funeral expenses and child-care expenses.

Rental Car

This coverage takes care of renting a vehicle while yours is being repaired for more than 24 hours.

Uninsured Motor Vehicle

This protection pays for medical expenses if you’re injured in a vehicular accident caused by someone who doesn’t carry liability insurance.

Ride-Hailing Coverage

This coverage protects TNC drivers when they are in a car collision with the app on but haven’t accepted a fare.

Roadside Assistance

This protection covers a vehicle breakdown due to a non-accident incident. Covered incidents include: towing, battery jump start, locksmith, flat tire change, fuel delivery.

Mercury Mechanical Protection

This protection is offered in several tiers and covers the cost of mechanical breakdown if your car has an engine, transmission or electrical problem. There is also an extended warranty, which would cover certain repairs when your vehicle breaks down.

Discounts

Anti-theft Feature Discount Auto Pay Discount
E-signature Discount Good Driver Discount
Good Student Discount Multi-car Discount
Multi-policy Discount Occupational Discount
Pay-in-Full Discount

Mercury Auto Insurance Rates by State

State Avg monthly rate
AZ $188
CA $156
FL $304
GA $209
IL $244
MI $387
NJ $239
NV $295
State Avg monthly rate
NY $413
OK $164
PA $160
TX $221
VA $169
NJ $299
NV $251
TX $340

Mercury Auto Insurance Rates by Vehicle

Number of Vehicles Avg Monthly Rate
1 Vehicle $267
2 Vehicles $340
3 Vehicles $463
4 Vehicles $542
5 Vehicles $625
6 Vehicles $588

Mercury Auto Insurance Rates by Homeownership

Own/Rent Avg Monthly Rate
Own $262
Rent $290

Mercury Contact Info

Address 4484 Wilshire Boulevard Los Angeles, California
Phone 1 (800) 503-3724
Website https://www.mecuryinsurance.com
Facebook https://www.facebook.com/MercuryInsurance
Twitter https://twitter.com/mercuryins
Youtube https://www.youtube.com/mercury
Linkedin https://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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