Mercer Insurance Group Car Insurance Review
Mercer Insurance Group provides automobile insurance coverage through independent agents and brokers. Their services extend to personal, commercial, and corporate policies.
The Mercer Insurance Group Car Insurance Company was founded in 2000. They were purchased by United Fire Group in March 2011 and are now a subsidiary. United Fire Group was established in 1946.
United Fire Group has a long history in the insurance industry and built their foundation with six main factors in mind: service, consistency, accessibility, commitment to quality, flexibility, and experience. Using this philosophy, they have increased their client-base by over 50%. Between 1997 and 2007, they added over 10,000 customers, an average of 1,000 per year.
Mercer Insurance Group is licensed to write automobile insurance policies in 43 states and the District of Columbia. In total, there are over 1,000 agencies that operate independently throughout the United States.
The Mercer Insurance Group differs from other large insurance corporations by providing supportive resources in addition to comparable coverage rates. For example, they offer consulting services and early warning methods that help detect administrative and financial issues before they affect their customers.
Description of Insurance Options
The Mercer Insurance Group has a functioning website, but as of March 2011 any inquiries are automatically directed to United Fire Group. The United Fire Group provides more information regarding automobile insurance, but you cannot request a quote online. You must locate an agent by listing your zip code.
Because the company only sells their insurance policies via private agents and brokers, you will need to work directly with the representatives in your area to secure your policy. They offer standard coverage options and determine your rates by your driving record.
Although their website is limited, it is interactive and can be useful for, applying instant payments or setting up recurring payment options. You can also make changes to your current policy and register for email alerts. They provide you with the tools you need to successfully manage your account online.
One special issue to consider is Mercer Insurance Group also takes your entire family’s driving history into consideration. Each person you add to your policy can affect your rates, but they do not review your credit history.
The company uses social media to appeal to consumers, specifically Facebook. If you have a Facebook account, you can interact with the United Fire Group employees or receive alerts on your PC or mobile device of your choice. They chose this method because it is more personalized than the standard website options. The company also uses the Yellow Pages and direct mailing methods for marketing.
Without spending hundreds of thousands of dollars on mass marketing and advertising tactics, Mercer Insurance Group has managed to increase their revenue each year by a minimum of 5% since 2000.
Mercer Insurance Company Statistics
In 2001, Mercer Insurance Group reported their first $1 billion dollars in revenue and assets. They continued to increase their financial position in automobile insurance coverage. By 2002, they saw increases of more than 16% and claimed over $65 million in stock holdings.
In August of 2005, suffering from the aftermath of Hurricane Katrina, United Fire Group recorded their largest loss to date, over $210 million. However, by May 2006, they bounced back due to their issuance of common stock to the public. They reported earnings in excess of $107 million that year.
As of 2011, Mercer Insurance Group, operating as a subsidiary of United Fire and Casualty, reported a total increase in earnings well over $510 million. The acquisition of Mercer Insurance Group proved to be a wise decision as the United Fire and Casualty corporation was able to take advantage of their sound financial structure; this helped to increase their revenue.
Awards and Acknowledgments
In 2004, Mercer Insurance Group, operating under United Fire and Casualty, ranked 92 of the best 200 small companies. They reached this level of excellence by maintaining a continual pattern of growth within the industry over the past five years.
A.M. Best also rates them extremely high, scoring an A or excellent for the third year in a row. To reach this level of superiority, Mercer Insurance Group displayed an above average ability to meet and exceed their financial obligations. They continued to increase revenue, which allows them to remain financially stable.
United Fire Group received honors from Forbes as they listed them as one of the Most Trustworthy Publicly Traded Companies in America, between 2004 and 2010!