The Mercury Insurance Group
The Mercury Insurance Group (NYSE-MCY) has been offering insurance products in the US since 1962. It is the third largest private passenger automobile insurer in California and began rapidly growing throughout the USA in 1990. Mercury’s niche is selling private automobile policies to better than average drivers at lower prices.
The company currently sells policies in thirteen states: Arizona, California, Florida, Georgia, Illinois, Michigan, New Jersey, Nevada, New York, Oklahoma, Pennsylvania, Texas and Virginia. Policy offerings are typical (but vary state to state): personal and commercial automobile, mechanical breakdown protection (MBP, which is essentially a vehicle warranty extension), home, condominium, renters, umbrella, and business policies. Premium discounts are also typical: discounts for anti-theft features, multi-vehicle discounts, good driver and good student discounts.
With Mercury’s 24/7 hotline number (800-503-3724), policy holders can report a loss or claim 24/7. That does not mean that there is claim handling 24/7. Like most other insurers, they have a network of repair shops that they recommend: CARS is Mercury’s Customer Authorized Repair Service. Again, like other insurers, Mercury backs up their recommended body shops’ guarantees with one of their own as long as you own your vehicle. It is important to remember that an owner can choose to have his or her vehicle repaired at any shop of their choice, and that most repair shops do guarantee their work; but an insurance company will back that guarantee up with one of their own if they recommend the shop. That is especially important in an economy it is not unheard of for a body shop (or any other business) to go under.
As of October 2010, the Mercury Insurance Company was entitled to an A+ (Superior) rating by A.M. Best, the leading global independent insurance industry reviewer. What this rating indicates to a policy holder is a superior ability for the insurer to meet its financial obligations, such as the payment of claims.
Whether you are an investor, or shopping around for an automobile insurance policy, this seems to be a company to keep your eye on. If you live within the Mercury Insurance Group's market area, make sure to get a policy quote before you make a final decision about which company to purchase a policy from. It is free to obtain a quote, and you might be pleasantly surprised at what you learn.
If you have even worked for Mercury Insurance or had a policy with them, our readers would love to hear from you. What did you think about the company? What did you like or dislike about it. How was the customer service. Please share your insights or personal story with the rest of our insurance community. Just fill out the web-form below to get started. Thank you.
This article is written for informational purposes and is not intended to take the place of competent local legal counsel. The writer is not affiliated with the Mercury Insurance Group of companies in any way.
Read our other insurance company reviews.
Other articles that may interest you:
Why Bother With Buying Automobile Insurance?
The Insurance Company Claims Process Explained
GAP Coverage Explained
An Explanation of Personal Umbrella Policies (PUP)
Understanding Uninsured Motorist and Under-insured Motorist Coverages
An Explanation of the Difference Between First Party and Third Party Claims
What to do When You Have Been in an Accident
The Insurance Company's Preferred Body Shop Program
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