Mercer Insurance Group Car Insurance Review

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Key takeaways...
  • Mercer Insurance Group was founded in 1844
  • The Mercer Insurance Group is one of the oldest insurers in America
  • A.M. Best gives Mercer it’s coveted excellent rating consistently

This Mercer Insurance Group, Car Insurance review, will give you some background on the Mercer Insurance Group Auto Insurance Company but remember, no one car insurance company is best for everyone.

Shop around, research your options, and tread carefully before jumping into a new auto insurance policy.

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Mercer Insurance Group History

Mercer Insurance Group was founded in 1844. Most of its customers live in Arizona, California, Nevada, New Jersey, New York, Oregon, and Pennsylvania.

Overall, its products and services are available in at least 22 states.

Available coverage varies by state, and Mercer Insurance Company offers only commercial products in New Jersey, New Jersey, and Pennsylvania.

The Mercer Insurance Group, along with some of its subsidiaries, offers personal insurance. A subsidiary company, Franklin Insurance, offers personal coverage in only a few areas.

Mercer Insurance Group Car Insurance Rates

  • Rates are generally affordable with some good discounts
  • Discounted rates depend on which Mercer subsidiary writes the policy and what kind of coverage is purchased
  • Customers must ask specifically for available discounts. Agents do not ordinarily offer the information freely
  • Rates vary according to the state in which policies are written

Mercer Insurance Group Financial Standing

  • The Mercer Insurance Group is one of the oldest insurers in America and is noted for its financial stability
  • Trading on the NASDAQ as MIGP, the company’s per-share price has rebounded to about $28.50 from its 52-week low of $15.80
  • Its current price-to-earnings ratio is 12.40
  • As an investment, analysts recommend holding on to the stock because of its stability. Otherwise, the outlook is bearish
  • While touting its commitment to corporate transparency to customers through regular releases of financial performance on a quarterly basis, it should be noted that companies customarily provide this information. Mercer’s provision of financial statements does not make it unique

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Few Customer Complaints

Mercer Insurance products and services have appeared in complaints related more to the agencies selling the policies than to the company itself.

Erie Insurance of Pennsylvania has taken some hard knocks for providing initial low quotes and subsequently billing a much higher premium.

Erie has also been cited for not honoring hail claims generally covered under Mercer Insurance.

Summary

Mercer Insurance Group’s car insurance generally receives high marks. A.M. Best gives Mercer it’s coveted excellent rating consistently.

Historically, it enjoys a stable financial position, demonstrated by the company’s longevity and its weathering of the financial crisis of 2008 and 2009 which hit the insurance hard.

Overall, its customer service record is exemplary. The few complaints in which Mercer Insurance Group is named from lapses on the part of the agency selling its products and services and not from the insurer itself.

Insurance customers looking for reliable and standard auto insurance with few frills will like Mercer Insurance Group’s products – if they are available in customers’ states.

Anyone with particular needs such as classic car coverage would do well to pass Mercer by and continue shopping.

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