Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insuran...

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Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.

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Reviewed by Chris Harrigan
Former Auto Insurance Claims Manager Chris Harrigan

UPDATED: Apr 13, 2022

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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.

Mercer Insurance Associates sell auto and home policies. This includes collector car and other specialty insurance products. They offer boat and marine insurance, flood insurance, earthquake insurance, umbrella policies, and much more.

They were acquired by United Fire Group in 2010 and continue to offer strong customer service and policies in states including New York, New Jersey, and Pennsylvania as well as California, Oregon, Arizona, and Nevada.

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Where Did Mercer Insurance Associates Come From?

Mercer Insurance Group was founded in 1844. It serves customers from coast to coast in the United States with their primary offerings being auto and homeowners insurance. 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.

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What Kind of Rates Should Drivers Expect with Mercer Insurance Group?

Like any other insurance company, rates will vary with Mercer Insurance Associates. Things like your driving record, zip code, and even your credit score can go into rates. Families with teen drivers could pay twice as much to insure their teen while they build experience and a strong record. The best way to get an idea of what rates Mercer Insurance Company will offer you is by getting a quote. Consider your base premiums and any applicable discounts.

  • 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

How Is Mercer Insurance Group’s Financial Strength?

  • 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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What Do Customers Think of Mercer Insurance?

Mercer Insurance products and services have appeared in complaints related more to the agencies selling the policies than to the company itself. In other words, choose your independent insurance agent carefully. Once you choose a Mercer product, they may be the one helping you with renewals, claims, and more.

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.

Other independent agents who sell Mercer may offer better customer service. Ultimately, the available rates would be the same between brokers. The only question is if the agent you work with has taken advantage of all available discounts while tailoring your coverage to your needs.

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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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References:

  1. https://www.mercer.com/about-mercer.html
  2. https://www.allstate.com/tools-and-resources/car-insurance/ask-agent-premium-deductible-limit.aspx
  3. https://www.progressive.com/classic-car-insurance/