Mercury Insurance: Company Overview

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 the 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 the premium volume and reached $1.08 billion in sales. The company had a 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

Mercury Mobile App Rating

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.

Common Questions about Mercury

Mercury Insurance Products

Mercury Auto Insurance Coverage

Discounts

Mercury Auto Insurance Rates by State

Mercury Auto Insurance Rates by Vehicle

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

Mercury Auto Insurance Rates by Homeownership

Customers who own their home rather than rent can sometimes get a small discount. We found that on average Mercury charges $171.67 per month for drivers who own their home and $179.95 per month for those who rent.

Mercury Contact Info

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.

How Does Mercury Compare to Other Car Insurance Companies?