Mercury Insurance Names the Most Affordable New Sedans to Insure

Rhea-AI Summary

Mercury Insurance, a leading auto insurer, announced the top 10 most affordable new sedans to insure in 2024. The list includes models like the Chevrolet Spark, VW Golf, Hyundai Accent, and Toyota Prius Prime. The rankings are based on factors such as claims history, repair costs, and safety records. The goal is to help budget-conscious consumers save on insurance costs. This announcement emphasizes the importance of considering the total cost of ownership when purchasing a vehicle. Mercury Insurance operates in 11 states with over 4,700 employees and a network of 8,000 independent agents.

Positive

• Mercury Insurance released a list of the most affordable new sedans to insure, helping consumers save on insurance costs.
• Hyundai Accent and Toyota Prius Prime are highlighted for their affordability in terms of insurance.
• The initiative helps budget-conscious consumers make informed decisions about vehicle ownership costs.

Negative

• The press release does not provide specific financial metrics or business development updates that could directly impact Mercury Insurance's stock (MCY).
• The announcement is focused on consumer information rather than business performance or financial results.

Two Hyundai products top this year's list

LOS ANGELES, July 12, 2024 /PRNewswire/ -- Specific sedan models are once again some of the most affordable vehicles to purchase and own, according to Mercury Insurance (NYSE: MCY), a leading auto insurer in California. Announced today, Mercury has compiled a list of the most affordable new sedans to insure. This list was created with the goal of helping budget-conscious consumers find a vehicle that will save them money on insurance.

Factors contributing to insurance costs include claims on similar vehicles, costs to repair and vehicle safety records. Mercury's research and development team examined 2024 model year (MY) sedans that are available at car dealerships today to compile this list¹.

"One of the most important aspects when researching your ideal vehicle is to consider the total cost of ownership, in which insurance plays an important part," said Chong Gao, Director of Product Management R&D for Mercury Insurance. "Plenty of vehicles are known to have lower repair costs, which means they could also cost less to insure. Mercury has put together this list to help savvy consumers know where the best savings can be found."

The top 10 list for new sedans, beginning with the most affordable make and model to insure is:

• Chevrolet Spark
• VW Golf
• Hyundai Accent
• Toyota Prius Prime
• Mitsubishi Mirage
• Volvo S90
• Mazda 3
• Nissan Versa
• Hyundai Venue
• Kia K5

­­­­­­­­­­­­­­­­­­­­Headquartered in Los Angeles, Mercury Insurance provides auto, homeowners and business insurance through more than 4,700 employees and a network of more than 8,000 independent agents in 11 states.

About Mercury Insurance

Mercury Insurance (NYSE: MCY) is a multiple-line insurance carrier predominantly offering personal auto, homeowners, renters and commercial insurance through a network of independent agents in Arizona, California, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia, as well as auto insurance in Florida. Mercury writes other lines of insurance in various states, including commercial, business owners and business auto, landlord, home-sharing, ride-hailing and mechanical protection insurance.

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.

¹ Mercury Insurance developed the list based on full coverage premium (BI, PD, COMP, COLL, MP, UMBI and UMPD) for a hypothetical driver with average factors for each rating element. 

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SOURCE Mercury Insurance

FAQ

What are the most affordable new sedans to insure according to Mercury Insurance in 2024?

The top models include Chevrolet Spark, VW Golf, Hyundai Accent, Toyota Prius Prime, and Mitsubishi Mirage.

How does Mercury Insurance determine the affordability of insuring new sedans?

Mercury Insurance considers factors like claims history, repair costs, and vehicle safety records.

Why did Mercury Insurance compile a list of affordable new sedans to insure?

The list aims to help budget-conscious consumers save on insurance costs and make informed decisions about vehicle ownership.

Which Hyundai models are listed as affordable to insure by Mercury Insurance in 2024?

The Hyundai Accent and Hyundai Venue are both listed among the top 10 most affordable new sedans to insure.

What is the primary factor that Mercury Insurance wants consumers to consider when buying a sedan?

Mercury Insurance emphasizes considering the total cost of ownership, including insurance costs, when purchasing a vehicle.