Nothing helps us see the flaws in our current insurance policy like finding a good deal elsewhere. 

With a better price within reach, ditching your current insurance carrier can seem more and more appealing. 

As a Mercury policyholder, you could be looking for a car insurance company that offers a better mobile app, or maybe you don’t want to be stuck with the same local insurance agent for the life of your policy. Whatever your issue with Mercury or your policy, it never hurts to see what else is out there. 

So whether you know you’re ready to make the switch or are just curious about what other insurance options you have, check out Insurify to find personalized quotes just for you. In less than 10 minutes, you can build your driver profile and get quotes tailored to your information so you can find the best coverage for you.

At a Glance: What is Mercury’s cancellation policy?

Whatever reason you’ve decided to cancel your Mercury car insurance policy, you’ll need to rely on your insurance agent to get the job done. Cancellation requests can be made over the phone or in-person and may require a written letter. 

Mercury’s website doesn’t specify cancellation fees, but customer reviews agree that there is a cancellation fee of 10 percent of your unused policy portion. It’s a good idea to check your policy documents and verify with your agent just to be sure, though. 

Step 1: Look up your renewal date. 

Especially when fees are involved, canceling your auto insurance policy closer to the renewal date is your best bet. Since Mercury charges a cancellation fee for the unused portion of your policy, the closer to renewal time that you cancel, the lower the fee you’ll have to pay. 

It’s also a good date to have in mind to coordinate your new policy start date. An overlap in coverage is just fine. What you want to avoid is a gap in your coverage.  

Step 2: Compare car insurance quotes.

Jumping to the first insurance company whose ad you see on TV can seem appealing when you’re ready to leave your current company. But it’s not in your best interest to just switch to any common name. Even an insurance company that comes highly recommended by a family member or friends may not be the best fit for you. Since your driving history, address, and even credit score can affect your car insurance rates, the only way to know which company is best for you is by comparing quotes. 

If that sounds like a lot of work, don’t worry—there’s an easy way to get and compare personalized car insurance quotes. 

Insurify lets you compare quotes based on your personal information so you can find the best deals and coverage for you. Whether it’s finding the best discount for being a good driver or a multi-car policy that works for the whole family, comparing quotes lets you find the right match for your situation. 

Finding the right auto insurance coverage takes more than comparing price, though. Keep in mind what other types of insurance products are offered (like homeowners insurance), available discounts, and even add-on features like roadside assistance. Your insurance premium is one thing, but you need to consider the whole package when making your decision. 

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Step 3: Think about why you’re leaving Mercury.

Getting slapped with a higher premium can be a good incentive to switch insurance companies. But it’s not the only reason you might switch to a new policy

Understanding why you’re ready to part ways with Mercury can help you find a better match when you switch. After all, no one wants to go through the hassle of changing companies only to be dissatisfied at the end of your first policy period. 

So try to dig beyond the cost of your premium into your experience with the policy. How was the insurance claims process? Did you have access to all the insurance products you wanted? 

Once you have an idea of insurance providers in your price range for your driving profile from your initial comparison, you can dig a little deeper by reading online insurance reviews. This will give you a better sense of a new company’s reputation and processes, so you can see if it’s really an improvement to your current situation. 

Step 4: Enroll in a new car insurance policy

If there’s one thing you take away from this list, let it be this: enroll in a new car insurance policy before you cancel your current policy. If you cancel your policy with your current insurer too early, you could be setting yourself up for issues down the road. 

The first issue you’ll avoid is a lapse in insurance coverage. Continuous coverage can qualify you for discounts with certain companies, but a lapse in coverage can actually hurt you. Going even a few days without continuous coverage can lead to higher premiums

Driving without insurance is dangerous, too. Not only is it illegal to drive uninsured, but you put yourself in a risky situation. If you ever got into a car accident while uninsured, you could end up liable for the expenses. 

So once you find your perfect match for car insurance, purchase the policy and make a note of the start date. You’ll want your new policy to start before your old policy ends. 

Step 5: Cancel your Mercury policy.

Canceling your Mercury insurance policy can be a bit of a process according to online customer reviews, so it’s a good idea to start the process early. 

As a policyholder, you have your very own Mercury insurance agent. While this personalized approach is a draw for some customers, this structure can complicate the cancellation process. You see, you can’t cancel your Mercury policy online. Instead, you need to work with your insurance agent directly to cancel your policy. 

You can start the cancellation process by calling the number on your insurance card to speak with your agent. You may be required to write a letter requesting to cancel your policy with the cancellation date specified. After that, it’s all in the agent’s hands. 

Step 6: Follow up on your refund. 

Don’t lose your insurance agent’s phone number too quickly. After you cancel your policy, you should make sure that you actually receive your refund. This might require some persistent phone calls, but it’s worth the extra time dealing with your old policy

Before your cancellation date hits, it’s a good idea to clarify with your insurance agent how and when to expect your refund. This will give you an idea of when you should start following up. Even if you feel like your insurance agent is reliable and timely, it never hurts to verify your money made it back to you. 

Mercury Car Insurance Cancellation: Quick Questions

What should I do before canceling my car insurance with Mercury?

You’ll want to make sure you have all your ducks in a row before canceling your Mercury car insurance policy. To start, you should figure out your renewal date on your current policy so you can determine the best time to cancel—you might be able to avoid the cancellation fee if you time it right. You should also line up a new policy before you cancel with Mercury so you can avoid a lapse in coverage.

Does Mercury charge a cancellation fee?

Mercury does charge a cancellation fee if you request a cancellation before your policy term is up. This is typically 10 percent of the unused amount of your policy, but it’s a good idea to check the details of your policy or contact your insurance agent to confirm.

Where can I find new car insurance after I've canceled my Mercury policy?

Finding a new policy is as easy as comparing quotes with Insurify. It takes only a few minutes to complete your profile with information about your driving history and current status. Then, you can compare quotes based on your personal information. Depending on your profile, you might see rates from household names like GEICO or State Farm, but you could also discover new auto insurance companies you haven’t heard of yet. Just make sure you cancel your current policy after you have a new policy set up. You don’t want to be caught uninsured on the road.

Browse, Compare, Discover with Insurify today.

 

Updated September 24, 2020

Mandie Kelleher is a freelance content writer for financial services and personal finance. With a background in financial administration, and teaching, she crafts content that deepens her readers' understanding by making complex topics simple. You can learn more about Mandie by visiting her site, mandiekelleher.com.