Mercury Insurance Reduces Rates in New Jersey

Rhea-AI Summary

Mercury Insurance has announced a reduction in homeowners insurance rates for New Jersey residents, averaging a decrease of 5.2%. For customers bundling auto and homeowners policies, the rate reduction is approximately 8.2%. These changes apply to new customers starting June 25 and to policy renewals from August 14. The company aims to provide affordable insurance while enhancing coverage options for coastal homeowners. Mercury operates through 485 independent agents in New Jersey, offering various insurance products including personal auto and homeowners insurance.

Positive

• Homeowners insurance rates reduced by an average of 5.2% in New Jersey.
• Bundled policies with auto insurance yield an average reduction of 8.2%.
• Rate reductions apply immediately for new customers and for renewals starting August 14.
• Focus on increasing discounts for bundled policies for greater savings.
• Company's strong ratings from A.M. Best and Fitch indicate reliability.

Negative

• None.

LOS ANGELES, June 25, 2021 /PRNewswire/ -- Mercury Insurance announced today that its homeowners insurance rates for New Jersey residents are being reduced by an average of 5.2% and when combined with a Mercury auto policy, the rate is reduced on average by 8.2%. The reduction immediately applies to new customers beginning June 25 and policy renewals beginning August 14.

"We're happy to help put money back in our New Jersey customers' pockets," said Mercury New Jersey Product Manager Sarah Wang. "We're also focusing on helping New Jersey homeowners receive deeper discounts for bundled policies and increasing homeowners insurance coverage for coastal residents.

"Mercury Insurance is voluntarily reducing its rates to help consumers because we believe affordable insurance should be available for everyone."

Mercury operates through a network of 485 independent insurance agents in New Jersey. Homeowners can also go to www.mercuryinsurance.com to get a quote.

"There are even more ways to save money," said Wang. "The rate reduction can be combined with other Mercury discounts like bundling home and auto insurance policies to receive up to 16% in additional savings." 

Wang offers these tips when hopping for homeowners insurance:

• Talk to a local Mercury agent. Our agents can help uncover additional savings and tailor a coverage package customized to meet your needs.
• Insurance can be complicated, so it's important to get expert advice from a professional local independent Mercury agent. They know the local area and can help you get the right coverage at the best possible price.
• Remember, price is only part of the equation. Be sure to select a company with a solid insurance shopping experience background that will help you protect your family and property when the unexpected happens. Mercury has earned A ratings from A.M. Best and Fitch, two of the industry's leading independent rating agencies. Reviews and customer testimonials are also important to consider. Mercury ranked the highest in the 2021 J.D. Power U.S. Insurance Digital Experience Study^SM.

Mercury offers insurance for Personal Auto, Mechanical Protection, Condo, Homeowners, Home Cyber Protection, Home Systems Protection, Identity Management Services, Renters and Service Line Protection in New Jersey.

About Mercury Insurance

Mercury Insurance (MCY) is a multiple-line insurance organization predominantly offering personal automobile, homeowners and commercial insurance through a network of independent agents in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia. Since 1962, Mercury has specialized in offering quality insurance at affordable prices. For more information visit www.mercuryinsurance.com.

 

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SOURCE Mercury Insurance

FAQ

What is the new homeowners insurance rate reduction by Mercury Insurance in New Jersey?

Mercury Insurance has reduced homeowners insurance rates by an average of 5.2% for New Jersey residents.

When do the new rates for Mercury Insurance take effect in New Jersey?

The new rates take effect for new customers starting June 25 and for policy renewals from August 14.

What additional savings can be obtained by bundling policies with Mercury Insurance?

Customers can receive an average reduction of 8.2% when bundling homeowners insurance with an auto policy.

How many independent agents does Mercury Insurance have in New Jersey?

Mercury Insurance operates through a network of 485 independent agents in New Jersey.

What types of insurance does Mercury Insurance offer in New Jersey?

Mercury Insurance offers personal auto, homeowners, renters, and other types of insurance in New Jersey.