Does Mercury Offer Homeowners Insurance
If you have not already had the importance of purchasing homeowners insurance stressed to you, then I will be the one to do so in this article. Homeowners insurance is absolutely vital if you currently own a property or are thinking to own one in the near future, as it will keep you and your belongings covered in the event of a number of disasters. If you want to ensure that your home and personal possessions are protected against loss and damages in the event of fire, storms, water damage, theft and vandalism, then homeowners insurance is what you need. You can purchase homeowners insurance from a number of insurance providers, but today we will be focusing on the homeowners insurance offered by Mercury. Mercury is a rather low-level insurance company that not many people may have heard of, though it is popular amongst young drivers for its low-cost auto insurance plans. Homeowners insurance is not exceptional in any way, but it offers a decent variety of coverage options and reasonably-priced rates; however, its customer satisfaction ratings are rather low. We will explore Mercury homeowners insurance in depth in this article to help you make a decision.
Mercury Homeowners Insurance Review and Costs
The main selling point of Mercury homeowners insurance is its wide range of options to cover yourself and your home with, meaning your plan is fully customisable and you can rest assured that everything that you need covered, is covered. Its customer reviews, on the other hand, are quite tricky – for as many people saying that they are pleased with the customer service Mercury offers, just as many people say the exact opposite. This discrepancy can also be seen in trusted rating system, with Mercury having a BBB score of A+ but an NAIC Complaints Index that was above the average of 1.14, meaning it received more complaints than expected for a typical insurer of its size. Mercury homeowners insurance cost is also quite high, with the average annual cost for homeowners insurance with Mercury being higher than that of several of its competitors such as Farmers and Allstate. However, these rates have the possibility of being lowered by Mercury’s range of discount options which you can apply to your homeowners insurance, making your plan more affordable.
| Mercury Homeowners Insurance High-Level Review | By the Numbers |
|---|---|
| BBB rating for Mercury Homeowners Insurance | A+ |
| Mercury Renters Insurance JD Power Rating | 2/5 |
| Avg. Cost for Mercury Homeowners Insurance Yearly | $1,731.60 |
| Avg. Cost for Mercury Homeowners Insurance Per Month | $144.30 |
Mercury Howeowners Insurance Coverage
Mercury homeowners insurance, along with most insurance providers in the US, provides a standard plan which protects yourself, your property and your belongings with basic coverages. These include coverage for your dwelling in the event of a covered loss such as fire, theft or vandalism, your personal property, your liability, and additional living expenses. These coverages are all very standard across homeowners insurance providers, but what makes Mercury stand out is its wide range of additional coverages – you can elect to be covered for service pipe damage, and large appliance and equipment repairs. Mercury homeowners insurance can even protect you against identity theft and offer cyber coverage if you are a victim of an online attack (e.g. fraud or extortion). Extended replacement cost can pay up to 150% of your dwelling limit to help rebuild your property, and you can purchase additional coverage for your valuables, which can include expensive items such as art and jewelry. This diverse range of optional coverage options is ideal if you are looking for a homeowners insurance plan that is very customisable, so it can best suit you and what you need to have covered.
As is the case with most insurance providers across the US, your Mercury homeowners insurance policy will not cover damage or losses caused by floods; if you feel you are in a high-risk area (which you can determine by checking a flood map, or by seeing if you live by the coast, in a flood plain, or in a dry area), then you can purchase flood insurance separately from the National Flood Insurance Program, or from a private insurer if that’s what you would prefer. Even if you assess that you do not live in a high-risk flood area, you may still wish to consider buying flood insurance, as almost 20% of flood insurance claims are made from areas that are low- to moderate-risk. To some, it may not be worth the risk of not buying flood insurance, as even a small amount of flooding can cause extreme damage to your property. Many US insurers do not cover mold growth either, and Mercury homeowners insurance is no different; water damage is usually only covered if the damage is “sudden and accidental”, which mold growth is not – it usually results from a lack of routine maintenance, which Mercury homeowners insurance also does not cover.
How Much is Mercury Homeowners Insurance Near You
The average annual cost for Mercury homeowners insurance for a $350,000 policy is around $3,400, which is higher than the national average, and definitely higher than some of its peers. However, rates may vary significantly depending on which state and city you live in, and the number and type of discounts you apply to your homeowners insurance plan will also affect the price of your policy by lowering it. As such, it is important to get a quote to know the exact rates that you will be paying.
| Mercury Homeowners Insurance Prices for Each State | Costs Per Month for Mercury Homeowners Insurance | Yearly Costs of Mercury Homeowners Insurance |
|---|---|---|
| Arizona Homeowners Insurance | $102.37 | $1,228.47 |
| Georgia Homeowners Insurance | $140.98 | $1,691.72 |
| Illinois Homeowners Insurance | $124.61 | $1,495.30 |
| Nevada Homeowners Insurance | $167.29 | $2,007.45 |
| New Jersey Homeowners Insurance | $139.83 | $1,678.01 |
| New York Homeowners Insurance | $155.76 | $1,869.17 |
| Oklahoma Homeowners Insurance | $205.54 | $2,466.50 |
| Texas Homeowners Insurance | $201.20 | $2,414.40 |
| Virginia Homeowners Insurance | $144.84 | $1,738.07 |
Get a Mercury Homeowners and Auto Insurance Discount
In case you were not already aware (we sincerely hope you were!), in most states you are required by law to have auto insurance, and as such it is offered by many insurance companies. Mercury is no exception, and is in fact renowned amongst young drives for its low rates and quality coverage. It is also common for these companies to offer the opportunity to bundle your auto insurance with another coverage, such as homeowners insurance. If you are always looking for ways to save money, or you are slightly put off by Mercury’s higher-than-average homeowners insurance rates, then you will be glad to know that Mercury also offers a significant discount if you choose to bundle your Mercury homeowners and auto insurance into one policy. With Mercury’s multi-policy (bundling) discount, you can be sure that you are maximising your policy as much as you can by getting more out of your money’s worth, and you are also saving yourself a lot of money in total (auto-homeowners insurance bundle discounts can save you 15% off your total insurance costs on average!). This may make purchasing Mercury homeowners insurance a significantly more attractive option to you.
Costs of Mercury Homeowners Insurance Compared with Competitors
As we have discussed previously in this article, Mercury has more expensive homeowners insurance rates that several of its competitors. But how much, exactly, does Mercury homeowners insurance cost compared to its peers? Though rates can vary due to a number of different reasons, we can take a look at average annual costs. For a $75,000 policy, the rates between Mercury and its competitors are relatively the same, ranging only from $985 (Allstate) to $1,290 (Mercury). However, with larger policy limits, we see greater differences in price; for a $350,000 policy, for instance, the most expensive policy of $3,694 annually comes from Travelers, but Mercury comes in second at $3,400. Make sure to get quotes from several insurance companies in your area, including for Mercury homeowners insurance, in order to be able to make a more accurate comparison between several different plans.
Reaching Out to Mercury Homeowners Insurance
Has fire and smoke damaged your home? Has your property been broken into and your belongings damaged or stolen? Has a friend of yours been injured on your personal property? If these, or any other covered situations occur to you, then you will need to file a Mercury homeowners insurance claim as quickly as possible in order to get any repair, replacement or legal fees covered. Before you do this, however, be sure to complete any urgent tasks to make sure that you, your home and your belongings are safe – complete any emergency repairs, file any police reports, etc. Once you have taken care of what needs to be taken care of, document any losses or damages such as by taking photos – this step is important, as it will form the basis of your claim later. Then, call Mercury’s claims hotline (Mercury homeowners insurance phone number can be found on Mercury’s website), and they will work with you through the process of building and completing your claim.
If you are considering purchasing homeowners insurance from Mercury, then you may be wondering how to cancel Mercury homeowners insurance in the event that you would like to switch insurance providers; maybe you have found one with more affordable rates, or more coverage and discount options, or perhaps one with better customer service. The process of cancelling a policy is good to keep in mind when looking at an insurer – though this may seem counterintuitive, you want to make sure you won’t be trapped in a plan in the case that doesn’t serve your needs anymore. Thankfully, cancelling your Mercury homeowners insurance is rather simple; all you need to do is call, mail, or meet your insurance agent to notify them of your decision, and then you can choose to either cancel your policy immediately, or arrange to have it cancelled at a later date. Once it’s cancelled, however, make sure you find a new policy right away, as you will not want to suffer property loss or damage whilst not protected by homeowners insurance.
Deciding on Whether Mercury is Right for Your Home
This article has provided you with plenty of valuable information regarding Mercury homeowners insurance and its rates, standard coverage, optional coverage options and discount options, as well as how it ranks up against its competitors. You are now equipped to find a Mercury homeowners insurance quote for you and make a well-informed decision on whether or not Mercury homeowners insurance is right for yourself and your home. However, before you decide to prematurely settle on any insurance company, it would be recommended to go out there yourself and compare local quotes and policies. By deciding what you prioritise in a homeowners insurance plan – whether that be affordability, customisability, discount options or good customer service – you will be able to see which insurance providers offer the features that you want and need. Once you have narrowed your options down to a few ideal contestants, you then will be able to utilise the information provided in this article to select the perfect homeowners insurance provider for you.
