Difference Between Mercury Insurance and Geico (With Table)

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. 

Mercury Insurance vs Geico

The difference between Mercury Insurance and Geico is that Mercury Insurance is more suitable for teen drivers and it also 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 as 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 Between Mercury Insurance and Geico

Parameters of ComparisonMercury InsuranceGeico
Credit LevelMercury 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 InsuranceIf 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. 
AffordabilityFor 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 AssistanceMercury 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 perksMercury 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 score. The standard coverage of Mercury’s auto insurance includes liability protection, collision protection, medical payment coverage, rental car, etc. 

Along with the standard auto insurance policy, the customer can add other coverages like roadside assistance and ride-hailing insurance. 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 has additional coverages as well. 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 mechanical parts of the car 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 both active and retired federal members and it provides 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

  1. Mercury is a better option for drivers who have lower credit levels whereas Geico is an excellent choice for drivers who have a credit score of more than 800. 
  2. If one has reckless driving records, tickets, DUI offense, etc. Mercury is a better option whereas the Geico policies for these high-risk factors are comparatively higher than Mercury. 
  3. For teen drivers, Mercury is a better option in terms of affordability whereas Geico’s annual premium is cheaper as compared to Mercury for drivers in their 20s and 30s. 
  4. Mercury offers roadside assistance as an additional service that one can add to the policy whereas Geico’s offers emergency roadside service through their mobile app. 
  5. Mercury Insurance policies are available only in 11 states whereas Geico is available across 50 states. 
  6. 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. 

Conclusion

Though Mercury Insurance is a better option for drivers with very low credit levels, one of the biggest disadvantages of Mercury is that it is available only in 11 states. Geico, on the other hand, provides services to the 50 US states and is known for low prices and multiple types of coverage. It also has a better customer rating as compared to Mercury.

Both Mercury Insurance and Geico provide multiple discounts based on multiple cars, driver’s safety, new vehicles, category of employment, etc. But, one needs to compare different types of perks and benefits of both the companies to understand which one is appropriate for his/her vehicle.

References

  1. https://heinonline.org/hol-cgi-bin/get_pdf.cgi?handle=hein.journals/nclr67&section=71
  2. https://arxiv.org/abs/1806.09736
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