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Mercury

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Mercury provides umbrella insurance, auto insurance, business auto insurance, mechanical breakdown protection, renters insurance, condo insurance, and home insurance. Mercury was founded in 1962 and is based in Los Angeles, California.

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The Good

  • Coverage Specifics
  • Transparency
  • Protection Add-Ons

Coverage Specifics

Mercury’s home insurance covers sheds and carports in addition to the main dwelling. Covered perils include the following:

  • Fire
  • Lightning
  • Windstorms
  • Hail
  • Falling objects

Trees, shrubs, plants, or lawn on your property are covered if damaged by fire, lightning, vandalism, or other insured losses. Mercury covers your living expenses if your home becomes uninhabitable due to a covered loss.

If you are sued for a covered liability claim, Mercury provides liability coverage and covers the defense cost.

In addition, personal property is covered from theft or damage while in your vehicle or with you, even while traveling.

Transparency

The company provides a good consumer resource center on its website, including information about the pros and cons of a lower deductible versus a higher deductible and the implications of that.

Mercury is transparent about what its standard policies do not cover, i.e. flooding and earthquake damage. Policyholders must purchase separate policies for those particular perils.

Mercury also encourages consumers to get valuables like antiques and jewelry appraised by a professional to determine their value prior to solidifying policy details.

Protection Add-Ons

Mercury offers additional protection to supplement home insurance for just a few dollars more per month.

  • Home systems protection — Repair or replace when appliances and electronics stop working, but doesn’t need to be the result of a peril like home insurance. Includes power tools, central air conditioning, kitchen and laundry appliances, electrical service panels, and solar and conventional water heaters.
  • Service line protection —Offers up to $10,000 per occurance for damage to exterior underground service lines including water piping, sewer piping, ground loop piping, and power lines.
  • Identity theft protection — Provides up to $25,000 of coverage for expenses incurred if identity is stolen, including lost income, notaries, attorney fees, mailing costs, and loan application fees.
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The Bad

  • Few Discounts Available

Few Discounts Available

If you bundle homeowners insurance with auto insurance from Mercury, you get a discount of up to 15 percent on your home policy and a 14.5 percent discount on your auto policy. Homes with protective devices like dead bolts and burglar alarms are also eligible for discounts, but Mercury is vague on the details. You’ll need to ask your agent for more specific information regarding discount availability and eligibility.

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The Bottom Line

Mercury provides excellent coverage for liability lawsuit defense costs, vehicular personal property, and home systems add-ons. While its discount availability seems sparse, the quality of coverage is worth paying the full policy cost.

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