Mercury home insurance review: High marks for affordability and digital experience

Mercury home insurance has an impressive array of coverage options, bundling discounts, and is one of the top-rated companies for web and mobile experience, making it a solid option for homeowners in the 10 states where it’s available.

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By

Pat HowardPat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

Edited by

Jennifer GimbelJennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

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Mercury

Mercury logo

Policygenius rating

Our proprietary ratings methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the “Ratings methodology” section for more details.
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4.1

AM Best rating

A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

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The bottom line

Mercury home insurance is best known for its comprehensive coverage options, bundling deals, and excellent digital presence, scoring the highest in the shopping segment of J.D. Power’s 2021 U.S Digital Experience Study and earning an above-average score in this year’s version. Mercury is also well regarded for its affordable home insurance rates and numerous multi-policy deals to help further your savings. 

However, homeowners who place a lot of importance on customer service may want to consider a different company, given the higher-than-average number of customer complaints it sees each year. You may also find it difficult to get insurance with Mercury depending on the type of roof you have. If you have a roof that’s over 20 years old, or one that’s constructed with wood singles, wood shakes, asbestos, or a flat or overlay roof, you may not have much luck with Mercury.

Pros

  • Lower than average rates

  • Optional equipment breakdown, service line, and water backup coverage

  • No minimum dwelling coverage limit requirements

Cons

  • Strict roof underwriting restrictions

  • Higher-than-average number of customer complaints

  • Only available in 10 states

Basic coverages offered

Mercury home insurance policies include these six basic coverages to protect your home, belongings, and liability.

  • Dwelling: Pays to rebuild or repair the structure of your home, such as the roof, floors, walls, built-in appliances, and any structures attached to the home.

  • Other structures: Pays to rebuild or repair additional structures on your property that aren’t attached to your home, like a detached garage or gardening shed.

  • Personal property: Covers the costs of repairing or replacing your personal belongings, such as furniture, clothes, electronics, and other possessions you own.

  • Loss of use: Helps cover the cost of hotel stays, restaurant meals, pet boarding costs, and other temporary living expenses while your house is being rebuilt or repaired after a covered loss.

  • Personal liability: Covers medical and legal expenses in the event you’re legally responsible for an accidental injury or property damage.

  • Medical payments: Pays for guests’ medical expenses if they’re injured in your home, regardless of who is at fault.

Additional coverages offered

Consider adding the following coverages to your Mercury homeowners insurance policy for an additional cost.

  • Extended replacement cost: In the event your house is badly damaged or destroyed by a covered loss and the cost to rebuild skyrockets beyond your insured limits, this increases your dwelling coverage an additional 50%.

  • Personal property replacement cost: If your belongings are stolen or damaged by a covered peril, this covers the cost of new items without deducting depreciation from your claim payment.

  • Service line protection: Pays for everything from excavation to repair costs if underground water pipes or electrical lines are damaged.

  • Water backup of sewer and drains: If your house is water damaged because of a sewer pipe or drain backup, this can help cover the cost of repairs. 

  • Home systems protection: If a household appliance is damaged because of a sudden mechanical, electrical, or pressure systems breakdown, this covers the cost of replacement or repairs. 

  • Identity management services: Up to $25,000 in coverage to cover expenses you incur when your identity is stolen, including lost income, attorney fees, and more. 

  • Scheduled personal property: Increases coverage limits on individual valuable items that often come with low per-item limits on a standard policy. In most cases, you’ll need to provide Mercury with the appraised value of the scheduled item.

  • Valuable items plus: Increases coverage limits on expensive valuables or heirloom items like jewelry, fine arts, musical instruments on a blanket basis up to $50,000. Individual items are limited to $5,000 in coverage. 

  • Personal injury: Covers legal expenses related to libel and slander, false arrest, malicious prosecution, wrongful eviction, and more.

  • Umbrella insurance: If you have a liability claim that exceeds your liability coverage limit, umbrella insurance kicks in to cover the additional costs. 

Ratings methodology

Price

4.3/5

Mercury home insurance is affordable and offers several ways for customers to save, earning the California-based company a high price rating. Based on our analysis of over 100 insurance companies in every U.S. state, Mercury home insurance premiums are about 3% cheaper than the national average.

Customer experience

3.8/5

Mercury scored in the top 50% of major home insurance providers included in J.D. Power’s 2022 Digital Experience Study, which measures customer satisfaction with an insurer’s web and mobile presence. While customers seem to be happy with Mercury’s digital capabilities, it sees a higher number of complaints than expected for a company of its size, according to the National Customer Complaint Index Report. This explains why Mercury ended up with a slightly above average customer experience rating

Coverage options

3.3/5

Mercury offers up to 13 optional coverages and additional policy options, helping it land a coverage options rating right around the industry average. Choose from extended replacement cost and personal property replacement protection, to Mercury’s comprehensive suite of home maintenance endorsements like service line, home systems, and water backup protection.  

Financial strength

3.5/5

Mercury Insurance has an impressive A rating with AM Best and a less impressive but still respectable A2 rating with Moody’s, earning Mercury a decent 3.5 out of 5 on our financial strength rating scale. When you insure your home with Mercury, you can rest assured that it’ll be able to pay out your claim in the event of a disaster or economic downturn.

How much does Mercury home insurance cost?

The national average cost of an Mercury home insurance policy is $1,835 per year for a policy with $300,000 in dwelling coverage. This makes Mercury Insurance about 3% cheaper than the national average. 

However, your own rates will depend on your home’s location and how much coverage you need. Here’s the average yearly cost of Mercury Insurance for five different levels of dwelling coverage:

Dwelling coverage level

Average annual cost

$100,000

$936

$200,000

$1,392

$300,000

$1,835

$400,000

$2,420

$500,000

$3,190

Rates are based on our analysis of 2022 sample home insurance quotes from across the country provided by Quadrant Information Services. Actual rates will vary based on location, policy limits, coverages, claims history, and other factors.

What discounts does Mercury offer?

Mercury has roughly 10 available home insurance discounts that can help you lower your home insurance rates. Keep in mind that you may be eligible for more or fewer discounts than the ones listed below, depending on your state of residence.

  • Multi-policy: If you bundle home and auto insurance policies, you can save an average of 13% on premiums, according to our analysis of Mercury home and car insurance rates.  

  • Fire protective devices: If you have a smoke or fire alarm, a fire extinguisher, fire sprinklers, or any device that minimizes expensive fire damage.

  • Theft protective devices: If you have a burglar alarm, home security monitoring device, deadbolt locks, or any device that minimizes theft.

  • Water leak detection systems: If you have a qualifying water leak detection system installed in your home.

  • New home: If you’re insuring a home that’s under 9 years old.

  • Home buyer: If you’re currently purchasing a home and insuring it with Mercury.

  • Loss free: If you’ve gone three or more years without filing a claim.

  • Renovation: If you recently made renovations to your roof or heating system.

  • Gated community: If you live in a community with a single point of entry that either requires security clearance or keycard access.

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Mercury home insurance state availability

Mercury home insurance is available in the following 10 states:

Arizona, California, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia.

What to expect with Mercury home insurance

  • How to get a quote: To get a homeowners insurance quote, you can do so entirely online through Policygenius or Mercury, or by calling Mercury’s sales department at 866-586-5175

  • Customer service options: Mercury has a comprehensive contact page for customers who’d like to make policy changes or have questions regarding billing, claims, or just general feedback. You can also call Mercury’s general help line at 800-503-3724.

  • How to file a claim: Mercury makes it easy to file a home insurance claim online through its special automated claims portal, or by calling its 24/7 hotline at 800-503-3724.

  • How to cancel your policy: To cancel your Mercury Insurance policy, reach out to your Policygenius or Mercury insurance agent. Your agent’s contact information should be listed on your policy declarations page.

Mercury vs. other home insurance companies

Compare Mercury to similar homeowners insurance companies using the table below.

Company

Policygenius rating

AM Best rating

Cost

Mercury

4.1/5

A

$$$

Stillwater

4.5/5

A-

$$$

Progressive

4.5/5

A+

NA

Liberty Mutual

4.3/5

A

NA

Geico

3.9/5

A++

NA

Auto-Owners Insurance

5.0/5

A++

$$

USAA

4.9/5

A++

$$

Nationwide

4.5/5

A+

$$$

Hippo

4.3/5

A-

$$

Allstate

4.4/5

A+

$$$

Amica

4.6/5

A++

$$$

Farmers

4.5/5

A

$$$

Erie

4.5/5

A+

$$

American Family

4.5/5

A

$$$

State Farm

4.8/5

A++

$$$

Homesite

4.3/5

A

$$

Encompass

4.5/5

A+

$$$$

Safeco

4.3/5

A

$$$

AAA

4.3/5

A

$$$

Swyfft

3.5/5

A-

NA

Travelers

4.4/5

A++

$$

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Frequently asked questions

Who is Mercury owned by?

Mercury is a publicly traded company, which means it's owned by its shareholders.

How long has Mercury been around?

Mercury was founded in Los Angeles on April 1, 1962, so it's been around over 60 years.

Is Mercury good at paying claims?

While we don't have much information about whether or not Mercury is good at paying claims, it received a below-average overall customer satisfaction score in J.D. Power's 2021 Home Insurance Study which looks at claims, among other factors.

Author

Pat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

Editor

Jennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

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