Bodily Injury Costs Increase in California, According to Mercury Insurance
- Mercury Insurance introduces new personal umbrella insurance policy for Californians, providing extra protection against bodily injury claims
- Average amount for a liability claim has increased by 66% since the pandemic started
- New policy starts at less than $1.00 a day
- Policy includes multi-policy discounts, uninsured motorist coverage, and increased liability options
- None.
Mercury's new umbrella insurance better protects Californians' personal wealth
against bodily injury claims
The recent trend of rising liability injury claims for home and auto owners that exceed traditional policy-limits has moved Mercury to unveil an all-new personal umbrella insurance policy for Californians that offers extra protection with bolstered coverages beginning at less than
"Unexpected accidents are becoming more costly for Californians, which puts them at risk of having to pay out of pocket," said Jeff Schroeder, vice president and chief product officer at Mercury Insurance. "During the last two years we've seen the number of million-dollar umbrella payouts increase by
A cautionary tale for all is that of a Mercury policyholder who kept the same limits and coverages since college, even though his personal wealth had increased significantly. The policyholder, who later became a doctor, never thought about umbrella coverage until he hit a moped with his automobile—severely injuring the rider. The rider engaged a lawyer and the Mercury insured ended up having to pay out of pocket for damages that were well beyond his auto policy limit of
Key features of Mercury's significantly updated umbrella product include:
- Multi-policy Discounts: Mercury policyholders can save big with multi-policy discounts across their auto, homeowners and umbrella policies.
- 3-year Accident and Violation Free Discount: A
5% discount is given to all drivers on the Mercury policy with no losses or accidents during the last three years. - Uninsured Motorist Coverage: Uninsured motorist coverage up to
in the event of an accident caused by a driver who does not have insurance.$1 million - Increased Liability: Policyholders can increase their liability coverage from
to$1 million , depending upon policyholders' coverage needs.$5 million
"Mercury's policy is the 'Goldilocks' of coverages because it offers a very specific amount of extra protection that fits customers' needs, which is really important for anyone who wants to safeguard their future against unexpected expenses and legal liabilities," Schroeder said.
Mercury offers Personal Auto, Mechanical Protection, Ride-Hailing, Condo, Homeowners, Home Cyber Protection, Home Systems Protection, Identity Management Services, Landlord, Renters, Service Line Protection, Business Auto and Personal Umbrella insurance in California.
About Mercury Insurance
Mercury Insurance (NYSE: MCY) is a multiple-line insurance carrier offering personal auto, homeowners, and renters insurance directly to consumers and through a network of independent agents in
Since 1962, Mercury has provided customers with tremendous value for their insurance dollar by pairing ultracompetitive rates with excellent customer service. Mercury has earned "A" ratings from A.M. Best and Fitch, as well as "Best Auto Insurance Company" designations from Forbes and Insure.com. For more information visit www.MercuryInsurance.com or follow the company on Twitter or Facebook.
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SOURCE Mercury Insurance
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