Mercury Home Insurance Review 2023: Is It Right for You? – NerdWallet

Mercury is one of the biggest home insurers in California, but it also sells homeowners policies in several other states such as Texas, Virginia and New York. Its policies generally come with extra dwelling coverage in case your house costs more than expected to rebuild after a fire or other disaster. Mercury sells homeowners insurance through independent agents.

Mercury homeowners insurance earned 4 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account coverage and discounts, ease of filing a claim, website transparency, financial strength, complaint data from the National Association of Insurance Commissioners and more.

Mercury sells homeowners policies in 10 states.

Mercury’s homeowners policies include all the standard types of coverage above. They may also include the following:

• Replacement cost coverage for personal property, which pays enough to buy brand-new replacements for damaged or destroyed belongings. Without this coverage your insurer would pay the items’ actual cash value, which reflects depreciation.

You may be able to add the following optional types of coverage to your policy:

• Equipment breakdown coverage for repairs to air conditioning systems, kitchen and laundry appliances, water heaters, electrical panels and more.

• Service line coverage, which pays up to $10,000 per claim for repairs to or replacement of damaged service lines, such as sewer, water and gas pipes. Without this coverage, you would be on the hook for these repairs, even though they connect to city-owned or utility-owned lines.

• Additional coverage for valuables, such as jewelry or fine art.

• Personal cyber coverage, which reimburses you if you’re the victim of an online attack such as online fraud or extortion, up to $50,000 with a $500 deductible.

• Water backup coverage to pay for damage from backed-up drains or failed sump pumps.

For California homeowners who have fire coverage through the state’s FAIR Plan, Mercury offers difference in conditions insurance to cover scenarios the FAIR Plan won’t, such as theft, personal liability and water damage from broken pipes.

Depending on where you live, you may be able to save by:

• Having fire-resistant construction materials in your home.

• Living in a gated community.

• Having multiple policies with Mercury (also known as bundling).

• Installing protective devices such as smoke alarms, deadbolts or water leak detectors.

• Not filing any claims for at least three years.

• Signing up for electronic billing.

• Protecting your home against wind damage.

• Getting a quote in advance of when you need coverage to start.

• Being a recent homebuyer.

• Taking steps to prevent wildfires or living in a community recognized by the National Fire Protection Association as a Firewise USA site (California only).

Mercury had more than the expected number of complaints to state regulators relative to its size for home insurance, according to three years’ worth of data from the National Association of Insurance Commissioners.

Website: On Mercury’s website, you can pay bills, view policy details, request changes and file claims. However, you’ll need to contact an agent to get a homeowners quote.

App: You can use Mercury’s app to see policy information, pay bills and contact customer service.

Claims: Mercury offers 24/7 claims filing online or at 800-503-3724. Once you’ve submitted your claim, you can check its status through your online account. Learn more about how to file a home insurance claim.

Customer service: For support, contact your agent, call 800-503-3724, send an email through the website or chat live with a representative.

Coverage. Mercury’s default policies generally include an extra cushion for your dwelling coverage, plus replacement cost coverage for your personal belongings. These are both more generous types of coverage than many standard homeowners policies have.

Discounts. Mercury offers plenty of ways to save money on homeowners insurance.

Availability. Mercury’s homeowners insurance is available in only 10 states.

Consumer complaints. Mercury draws a higher volume of complaints to state regulators than expected for a company of its size.

Mercury homeowners insurance isn’t available to most Americans, but if you live in California or one of the other states the company serves, its policies are worth considering. It’s ideal for someone looking to work with an agent to find the coverage they need.

Not ready to make a decision? You may be interested in these other homeowners insurance companies: