3.1 / 5

Mercury homeowners insurance review

Mercury offers an impressive array of home insurance coverage, but it’s only available in 11 states. And premiums skew 50% higher than the national average.

Tim Torres

By

Tim Torres

Tim Torres

Reviews Editor

Tim Torres is a former reviews editor at Policygenius, where he specialized in life insurance, homeowners insurance, auto insurance, and more. His work has also appeared in PC Mag, Tom's Guide, Tech Times, and elsewhere.

Updated|4 min read

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Mercury

OVERALL

3.1

3.1

THE GOOD

    check mark

    Wide variety of coverage available

    check mark

    Strong credit ratings

THE BAD

    X mark

    Only available in 11 states

    X mark

    Negative third-party reviews

THE BOTTOM LINE

Mercury provides many high quality, customizable coverage options for residents in the 11 states its coverage is available. Potential policyholders can choose from an assortment of coverage add-ons in addition to standard policy protection, including extended replacement cost coverage, service line and equipment breakdown coverage, and unique endorsements like computer and cyber attack coverage. However, the cost is about 50% higher than the national average homeowners insurance premium, many of the third-party reviews are negative, and the customer experience is lacking.

Price

Average annual premium cost for a medium-sized home.

5.0

Financial confide...

Financial ratings from credit rating agencies.

8.3

Third-party ratings

Satisfaction from consumer sentiment institutions and complaints to state insurance boards.

3.0

Policy options

Both the quality and number of coverage options, like unique homeowners insurance product tiers and availability of certain coverage endorsements.

9.0

Customer experience

Ease of use, convenience, availability, and claims ratings.

5.5

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The details

The good

Wide variety of coverage options. Mercury has many coverage features available, including several optional add-ons and high-quality endorsements like service line coverage, equipment breakdown coverage, identity theft and cyber attack protection, and even watercraft coverage.

Strong credit ratings. Between A.M. Best and Moody’s, credit rating agencies are confident that Mercury is financially sound. This means it has the resources to ensure your claims can actually be paid out.

The bad

Only available in 11 states. The catch for that nifty coverage is that it’s only available in a handful of states: Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia.

Negative third-party reviews. Despite Mercury’s financial strength, customers seem to be unhappy with their experience at Mercury. Many customers reported complaints with the National Association of Insurance Commissioners, giving it a high complaint score of 2.99.

Price

Average annual premium cost for a medium-sized home.

5.0

Mercury homeowners insurance costs around $1,925 annually, according to Policygenius quote data. That's about 50% higher than the national average premium of $1,249, according to the National Association of Insurance Commissioners.

Discounts

Mercury offers a few rate-saving opportunities, including a multi-policy discount if you buy both home and auto insurance with Mercury, as well as protective device discounts.

Here’s a sampling of what you can expect:

  • Alarm systems and protective devices discount. Get a discount if you have smoke alarms, burglary systems, water leak detection systems, or other home safety devices installed.

  • Claim-free discount. If you’ve gone without a claim for three years or more, you can save some money.

  • New home discount. Save money if you live in a newer home that was built in the last nine years.

  • Multi-policy discount. Bundle your home insurance with an auto insurance policy to save on premiums.

Financial confidence

Financial ratings from credit rating agencies.

8.3

Insurance companies need to stick around to pay out claims, so financial stability ratings are an important indicator of how reliable a particular company will be. To gauge companies’ financial soundness, we look at the scores from independent credit rating agencies, including A.M. Best, Moody’s, and Standard & Poor’s.

  • A.M. Best: A

  • Moody’s: A2

  • Standard & Poor’s: N/A

Credit rating firm A.M. Best, which focuses specifically on the insurance industry, gives Mercury an A rating (effective December 22, 2021). That means Mercury has an “excellent ability” to fulfill customer obligations.

An A2 rating from Moody’s, a bond credit rating agency, means Mercury is subject to low credit risk, so there’s little danger in doing business with them.

Analysis firm Standard & Poor’s did not rate Mercury.

Third-party ratings

Satisfaction from consumer sentiment institutions and complaints to state insurance boards.

3.0

Besides credit ratings professionals, we also look at what regular customers are saying about their chosen insurance companies. In Mercury’s case, we only have a few third-party sites available to check customer sentiment, and none of the ratings skew in Mercury’s favor.

Here’s what some third-party sources think of Mercury:

  • Consumer Affairs: N/A

  • Consumers Advocate: N/A

  • Trustpilot: 3.7 / 5

  • NAIC complaint index: 2.99

Consumer Affairs allows customers to directly rate carriers. However, there isn’t a dedicated review for Mercury homeowners insurance yet.

Consumers Advocate is a review site that covers companies’ policy options, customer service, and stability, but they don’t have a review page for Mercury’s homeowners insurance. 

Trustpilot also allows consumers to leave reviews about insurance companies. Mercury has a 2.5 rating out of 5, based on 12 user reviews, most of which are about auto insurance.

The National Association of Insurance Commissioners (NAIC) tracks complaints submitted to state insurance departments. Mercury has a 2.99 rating, which means there were a sizable amount of complaints to count.

Policy options

Both the quality and number of coverage options, like unique homeowners insurance product tiers and availability of certain coverage endorsements.

9.0

Mercury’s base coverage options are pretty comprehensive — offering the typical HO-3 policy coverages plus a few special coverage add-ons. Here’s how its base policy shakes out:

  • Dwelling. This protects your home in a covered incident, covering repair and replacement costs.

  • Other structures. With this coverage, structures that aren’t attached to your home, like a separate garage or shed, would also be protected. 

  • Personal property. Your personal belongings in your home would be protected as well, covering their repair and replacement if necessary.

  • Extended replacement cost. Your dwelling protection is extended up to 150% in the event that your replacement costs exceed your base coverage.

  • Additional living expenses. Covers the cost of lodging, dining out, dry cleaning, and more if you can’t live in your home while it's being repaired after a covered loss.

  • Personal liability. Covers legal and medical costs if a guest is injured or their property is damaged while at your home and you’re found liable..

  • Medical payments. In the case that a guest is injured at your home from a covered incident, this would cover costs associated with any medical treatment.

  • Identity theft. Helps pay to reverse the fraud, fix your credit score, and get your identity back — but it doesn’t cover monetary losses.

On top of this exceptional base coverage, you can add a few additional coverage options to your policy, including: 

  • Service line coverage.  Covers the cost to repair or replace any electrical wires and/or pipe systems that may be damaged on your property.

  • Equipment breakdown coverage. If your home appliances are damaged during a covered incident, you would be eligible to have them repaired or replaced.

  • Home cyber protection. Covers the cost of measures to prevent hacking and cyber attacks.

Note: The information above represents potential policy options and may not be available for every applicant. Speak to a licensed expert for a personalized look at your coverage options.

Customer experience

Ease of use, convenience, availability, and claims ratings.

5.5

Mercury has a call center dedicated to catastrophe claims for customers who suffer property damage from natural disasters such as an earthquake or hurricane. Beyond that, it’s a fairly straightforward company when it comes to handling claims, payments, and quotes.

On its website, you can find an agent, but you can't apply online or receive a quote. For that, you’ll have to pick up the phone. You can view and change policy information online through its customer portal or on the mobile app.

Hot tip: Hate talking on the phone? You can also apply and receive a Mercury quote online through Policygenius’ team of licensed agents. 

State availability

Mercury home insurance is only available 11 states: 

  • Arizona

  • California

  • Florida

  • Georgia

  • Illinois

  • Nevada

  • New Jersey

  • New York

  • Oklahoma

  • Texas 

  • Virginia

Digital tools

  • Online bill payment and policy management

  • Digital copies of policy documents and bills

  • Mobile app available

  • FAQ and blog resources available online

Ease of claims

You can file a claim by calling Mercury's 24/7 customer service line alongside its catastrophe claims center.  Mercury also offers a network of repair companies you can choose from. 

Payment methods

  • Credit or debit card over the phone

  • Check by mail

  • Online

Policygenius offers insurance policies from many of the nation's top insurers, who pay us a commission for our services. However, all editorial choices are made independently.

Author

Reviews Editor

Tim Torres

Reviews Editor

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Tim Torres is a former reviews editor at Policygenius, where he specialized in life insurance, homeowners insurance, auto insurance, and more. His work has also appeared in PC Mag, Tom's Guide, Tech Times, and elsewhere.

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