Choosing the right company for your auto insurance can be trickier than choosing a new car for yourself. Many factors go into deciding which car insurance company is fit for which group of people. For example, an insurance company may provide more benefits and discounts to young students and teen drivers, whereas another one is more pocket-friendly for middle-aged people. So, the same company and its policies cannot be fit for different groups of people.
Key Takeaways
- Mercury Insurance covers high-risk drivers, while GEICO targets a broader range of customers.
- GEICO offers more comprehensive coverage options, such as rideshare insurance, which Mercury Insurance does not provide.
- Mercury Insurance operates primarily in California and a few other states, while GEICO provides coverage nationwide.
Mercury Insurance vs Geico
The difference between Mercury Insurance and Geico is that Mercury Insurance is more suitable for teen drivers and has a good range of discounts for its multiple policies. On the other hand, Geico is the best option for any driver who has a high credit score (> 800). The customer rating of Geico is also very impressive, and it has the least number of complaints launched against it compared to other insurance companies.
Mercury Insurance provides home, auto, and business insurance. It is available only in 11 states, and statistics show that the complaints launched against the company are much higher as compared to other insurance companies. On the brighter side, the company shows a high financial strength rating and offers ample discounts on its auto insurance policies.
Geico being the second-largest car insurance company in the US, provides broad coverage at various rates. The company has a strong market in 50 US states and the District of Columbia. Geico also provides better customer service as compared to other insurance companies. Geico is a better choice for customers who are looking for multiple types of insurance and lower rates.
Comparison Table
| Parameters of Comparison | Mercury Insurance | Geico |
|---|---|---|
| Credit Level | Mercury is a better option for drivers who have lower credit levels. | Geico is an excellent choice for drivers who have a credit score of more than 800. |
| High-Risk Insurance | If one has reckless driving records, tickets, DUI offense, etc. Mercury is a better option. | The Geico policies for these high-risk factors are comparatively higher than Mercury. |
| Affordability | For teen drivers, Mercury is a better option in terms of affordability. | Geico’s annual premium is cheaper as compared to Mercury for drivers in their 20s and 30s. |
| Roadside Assistance | Mercury offers roadside assistance as an additional service that one can add to the policy. | Drivers can request service through Geico’s mobile app for emergency roadside service. |
| Availability | Mercury Insurance policies are available only in 11 states. | Geico is available to customers across 50 states. |
| Extra perks | Mercury offers extra benefits to military employees like accepting out-of-state licenses. | Apart from military people, Geico provides additional discounts on new vehicles. |
What is Mercury Insurance?
Mercury Insurance is a home, auto, and business insurance provider that is available in 11 US states. It provides many discount options for its auto insurance policies and is a good choice for drivers with a low credit scores. Mercury’s auto insurance coverage includes liability protection, collision protection, medical payment coverage, rental car, etc.
The customer can add other coverages like roadside assistance, ride-hailing insurance, and the standard auto insurance policy. Roadside assistance is available 24/7, and the ride-hailing insurance covers the period when the specific app is on, and the driver hasn’t accepted any customer.
Mercury also provides a wide range of discounts, including multi-car discounts, continuous insurance discounts, multi-policy discounts, etc. The company also provides several vehicular and driver safety discounts as well.
What is Geico?
Geico is one of the famous auto insurance companies across the US since it is available in 50 states. It provides one of the cheapest car insurance rates and additional coverages. But Mercury Insurance is a better choice than Geico if a driver has an extremely low credit level. Otherwise, Geico is more reliable and flexible.
Geico provides mechanical breakdown insurance that can repair and replace the car’s mechanical parts in case it breaks down. It also provides rideshare insurance for drivers that work for Lyft or Uber. Geico also provides a variety of discounts to different types of customers.
For example, a federal employee discount is available for active and retired federal members, providing up to an 8% discount. For US military personnel, Geico provides a discount of up to 15% on premiums.
Geico’s online app can perform almost every task and increases convenience for many customers. But, sometimes, the claim processing process of Geico can be inconsistent and certain coverage types can only be available through partners.
Main Differences Between Mercury Insurance and Geico
- Mercury is a better option for drivers with lower credit levels, whereas Geico is an excellent choice for drivers with a credit score of more than 800.
- If one has reckless driving records, tickets, DUI offences, etc. Mercury is a better option, whereas the Geico policies for these high-risk factors are comparatively higher than Mercury.
- Mercury is a better option for teen drivers in terms of affordability, whereas Geico’s annual premium is cheaper than Mercury for drivers in their 20s and 30s.
- Mercury offers roadside assistance as an additional service that one can add to the policy, whereas Geico offers emergency roadside service through their mobile app.
- Mercury Insurance policies are available only in 11 states, whereas Geico is available across 50 states.
- Mercury offers extra benefits to military employees, like accepting out-of-state licenses, whereas Geico provides additional discounts on new vehicles as well as for military people.
- https://heinonline.org/hol-cgi-bin/get_pdf.cgi?handle=hein.journals/nclr67§ion=71
- https://arxiv.org/abs/1806.09736
Last Updated : 13 July, 2023
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Chara Yadav holds MBA in Finance. Her goal is to simplify finance-related topics. She has worked in finance for about 25 years. She has held multiple finance and banking classes for business schools and communities. Read more at her bio page.
The article effectively outlines the main differences between Mercury Insurance and GEICO, offering readers a clear comparison of the two insurance providers.
Both Mercury Insurance and GEICO offer various benefits depending on the driver’s circumstances. GEICO is nationwide, while Mercury Insurance is available in fewer states. I believe both companies have their respective pros and cons.
I agree that each company has its unique strengths. Mercury Insurance is a great option for teen drivers, while GEICO offers additional coverage options such as rideshare insurance.
The availability of Mercury Insurance in only 11 states is a crucial factor to consider for potential customers. GEICO’s nationwide coverage offers greater accessibility to a wider customer base.
Both Mercury Insurance and GEICO have their unique advantages based on factors such as credit level, high-risk insurance, affordability, and availability. It’s important for consumers to weigh these considerations when choosing an insurance provider.
Absolutely, the variations in benefits and discounts offered by each company play a significant role in the decision-making process.
The ability to add extra perks and benefits, such as roadside assistance and discounts for military personnel, distinguishes these insurance providers from one another.
It’s interesting to learn about the specific target customer groups of Mercury Insurance and GEICO. Understanding the differences in benefits and coverage options is essential for those seeking auto insurance.
The references provided at the end of the article demonstrate the credibility of the information presented. Readers can further explore the sources to gain a deeper understanding.
The detailed breakdown of Mercury Insurance and GEICO’s offerings allows customers to evaluate their options based on specific criteria such as credit level, affordability, and additional perks.
Agreed, the comparison table and detailed descriptions provide valuable insights into the distinct advantages offered by each company.
Understanding the strengths and weaknesses of Mercury Insurance and GEICO enables consumers to make well-informed decisions tailored to their insurance needs.
The comparison table provides a comprehensive overview of the differences between Mercury Insurance and GEICO. This allows customers to make informed decisions based on their individual needs.