Mercury Car Insurance Company Review
Founded in 1962 by George Joseph, Mercury Insurance Group is an American insurance company that provides a range of insurance products. Headquartered in Los Angeles, California, Mercury Insurance Group offers comprehensive coverage options for personal car insurance, business insurance, as well as, homeowners and renters insurance.
According to investor information, Mercury Insurance Group is a publically traded company (NYSE-MCY) and is the leading independent automobile insurance broker and insurer in California. With over $4 billion in assets, it continues to quickly grow as one of the top car insurance companies in the United States.
Operating through a network of independent agents and brokers, Mercury car insurance is often seen as a low-cost alternative to higher priced insurance packages offered by larger, nationwide insurance companies. Mercury Insurance Group is known for providing automobile policies at extremely competitive prices, especially if you are assessed as being an above-average driver.
Car Insurance Options Offered by Mercury
Mercury Insurance Group offers a large range of automobile insurance packages to protect the driver, passengers and automobiles. The most common car insurance policies cover liability, collision, comprehensive protection, medical costs incurred for treating accident injuries, Personal Injury Protection (PIP), as well as protection against the uninsured or underinsured driver. Customers can also add rental car coverage and roadside assistance to their options.
Another popular Mercury insurance product is the extended warranty option or the Mercury Mechanical Breakdown Protection (MBP) that is available for new and pre-owned vehicles. The MBP plans cover the repair costs of your vehicle if it breaks down. The most comprehensive MBP plan is the Platinum Plan that covers all the mechanical and electrical components of the vehicle, excluding normal wear and tear on parts like brakes etc.
The Mercury MBP plan offers a range of additional benefits without charging any extra fees. These benefits include rental vehicle assistance, 24-hour roadside assistance, tire protection, nationwide protection, and unlimited claims. Additionally, under the MBP plan, you can get the repairs done in any U.S. licensed repair facility and, if you were to sell your car, the coverage can be transferred to the new owner at no extra cost.
The Mercury Group also offers commercial auto insurance policies that can be tailored to meet the needs of the company. Some of the options commonly covered are collision, medical expenses, liability, and comprehensive coverage, among others.
Some of the business categories that can avail commercial coverage include catering, construction, pest control, retail, wholesale, sales, and marketing professionals, among others. Businesses can cover a range of vehicles that include vans, pickups, flatbeds, and stake trucks, box trucks and passenger vehicles.
You can also get special car insurance packages that are custom-made for your needs such as special rates for teenage drivers in your family, short-term insurance for visitors who will use your car, among etc.
Mercury Insurance Group’s Market Share
Mercury Insurance Group operated solely in California until 1990. Since then, the insurance company has expanded to 13 other states including Arizona, Florida, Nevada, New York and Pennsylvania, to name a few.
One of the fastest growing insurance companies in the United States, Mercury Insurance Group is California’s leading independent agency that offers private automobile coverage. It is presently the third largest private passenger automobile insurer in the state of California. According to the National Association of Insurance Commissioners, Mercury wrote $2,109 million in premiums and had a market share of 1.26% in 2009.
What Makes Mercury Car Insurance Company Memorable?
The unique feature of Mercury car insurance is its flexibility and versatility in creating car insurance plans that cater to your specific needs at the lowest price possible. The focus is to cut the cost without cutting service standards and additional perks. That is what Mercury insurance is popularly known for, courteous services at low costs.
The insurance company launched a Mercury Moments publicity campaign that emphasizes “astonishing you the moment you need us…by listening, understanding and helping.” Each Mercury Moment is inspired by true customer stories. The different vignettes of the Moments campaign utilize incidents where automobile accidents or damage was caused by rather unusual culprits, and were covered by Mercury insurance.
Some of the unconventional damages covered by Mercury Insurance Group include medieval mob damage, bear attacks, dust storms, and falling sculptural hamburgers, among others.
Mercury Car Insurance Company’s Ratings
Mercury Insurance Group has consistently been rated as a company of high financial strength. According to A.M. Best Financial Strength Rating, Mercury has an A+ rating while Standard & Poor’s awarded the company an A rating. Given that these are two of the business worlds’ most respected and influential rating agencies, it is safe to assume that Mercury insurance is a growing company with the right attitude towards their customers and stockholders. Additionally, in 2009, Forbes Magazine rated Mercury Insurance Group as one of America’s most trusted companies.