Compare Erie vs. Mercury: Quotes, Discounts 2024

Erie vs. Mercury: A Summary

Erie and Mercury are two leading midsize auto insurance companies. Erie serves 12 states and Washington, D.C., and Mercury serves 11. Insurify has compiled all the relevant information to help you compare the two auto insurers. Compare auto insurance quotes from Erie, Mercury, and other providers available to you with the Insurify quote-comparison tool.

ICS Score Explanation:

The Insurify Composite Score (ICS) is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

Erie

Erie Insurance sells coverage to individuals in Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Wisconsin, and Washington, D.C. The company offers 24/7 claims support, accident forgiveness, a mobile app, diminishing deductibles, new car replacement coverage, rental car reimbursement, and more.

Mercury

Mercury serves drivers in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia. The insurer’s policyholders enjoy robust coverage options, as well as features like roadside assistance with towing and flat-tire changes. Customers also save when they bundle car and home insurance through Mercury.

The Best Car Insurance Companies in 2021

Mercury earned a spot in Insurify’s best car insurance companies in 2021, taking the best rating for its superb face-to-face service. Although Erie didn’t make the list of 10 companies, the insurer has several benefits, including low rates, lots of add-ons, and exceptional customer service. Erie has above-average overall customer satisfaction ratings from J.D. Power.

Compare Erie vs. Mercury: Which Is Cheaper?

Erie is the low-cost champion, offering affordable rates in every driver category listed throughout the page. On average, Erie customers spend $49 per month, while Mercury policyholders spend an average of$102 per month. Ultimately, rates will vary depending on individual driver history, location, credit tier, age, annual mileage, gender, and more.

The Cheapest Car Insurance Companies in 2021

Erie’s low rates make it an appealing option among the competition, and rates from Mercury are fairly similar to other car insurance providers. Both companies fit in the midsize category, with a solid focus on the states they serve. And, since both providers offer adequate coverage, potential customers may wish to see what both have to offer.

Compare Erie vs. Mercury Car Insurance by Age

When creating an auto insurance quote, insurers consider your age because they realize that experienced drivers are typically better drivers. Furthermore, older motorists are more prone to own a home and have good credit, resulting in reduced rates. Conversely, drivers under the age of 25 pay the highest prices for auto insurance.

When you look at the chart below, it’s probably no surprise that teenagers pay the highest premiums for car insurance. After that, rates dramatically drop after drivers reach their 20s. Then, it’s easy sailing until they approach retirement age. In particular, drivers in their 50s secure the cheapest rates. They spend $36 per month at Erie and $82 at Mercury.

Compare Erie vs. Mercury Car Insurance by Gender

Your gender is another element that influences how much you spend on car insurance. Typically, men and women pay around the same amount for auto insurance, but some insurers place a greater emphasis on gender. For example, since young men are statistically more likely to be involved in accidents than young women, companies may charge them a bit more.

Erie bills men and women the same average rate of $49 per month. At Mercury, women pay $5 more than men, which goes against common trends. When comparing both companies to the national average, Erie is cheaper and Mercury is far more expensive for both men and women.

Which is cheapest for men?

Men may prefer coverage from Erie since it is less expensive than the national average. Erie’s $49 monthly rate saves men $32 in comparison to the national average, totaling up to $384 in savings per year. Mercury surpasses the national average by a considerable $18 per month and $216 per year. Policyholders who choose Erie over Mercury save an average of $600 per year.

Which is cheapest for women?

For women, Erie is the most budget-friendly choice.The average monthly cost for women is just $49, which is less than rates from Mercury by $55 per month and $660 per year. Erie also offers monthly rates that are $20 lower than the national average, offering women the opportunity to save $240 each year. Mercury costs $312 more per year than the national average.

Compare Erie vs. Mercury Car Insurance by Mileage

In general, driving more equates to paying higher premiums because car insurance companies estimate risk based on time spent on the road, partially because there’s a greater likelihood of vehicle damage from a car collision. That said, pricing variations are possible because auto insurance providers do not assess yearly miles identically.

Unlike other car insurance providers, Erie and Mercury provide the same price regardless of the number of miles you drive in a year. Perhaps the insurers apply a standard mileage for quoting regardless of what customers estimate for their mileage.

Which is cheapest for drivers with high mileage?

The $49 monthly rate from Erie is around half the price of the $104 monthly rate from Mercury. In fact, choosing Erie over Mercury could save you $660 each year. Additionally, Erie offers a lower rate than the $78 national average, which results in yearly savings of $348.

Which is cheapest for drivers with low mileage?

Erie is again the cheaper option, considering the rates are essentially identical to that of the 15,000-20,000 annual mileage category. Choosing the $49 per month premium from Erie saves drivers at least $348 per year compared to the national average and $660 compared to Mercury. Mercury exceeds the national average by at least $312 each year.

Compare Erie vs. Mercury Car Insurance by Credit Score

Drivers with outstanding credit often get the lowest car insurance prices. On the other hand, those with mediocre credit have fewer options for low-cost insurance. Although credit score is important, folks with poor credit can still receive a good deal. Simply head to Insurify to evaluate auto insurance quotes from leading providers all on one straightforward interface.

You’ll find a similar pattern for the cheapest rates from Erie and Mercury. Drivers with excellent credit get the best rates, and rates rise as you drop to lower credit levels. This is true for Erie, Mercury, and the national average. Erie offers rates well below the national average at every level, but Mercury exceeds it in every credit tier.

Which is cheapest for good credit?

People with stellar credit may prefer Erie. If you have excellent or good credit, you will save money compared to the national average. Drivers with excellent credit who choose Erie over Mercury save $45 per month and $540 per year. Individuals with good credit who choose Erie over Mercury save $54 per month and $648 per year.

Which is cheapest for bad credit?

If you’re repairing your credit, Erie is the better option. Choosing Erie over Mercury would save you $56 per month if you have average credit and $45 per month if you have poor credit. Notably, Erie offers lower rates than the competition overall, with rates that are much cheaper than the national averages for drivers with average and poor credit.

Compare Erie vs. Mercury Car Insurance by Driving Record

Insurance companies use the previous three or five years to calculate your rates. As a result, maintaining a clean driving record leads to some of the heftiest price reductions, like good driver discounts. You can also save when you take defensive driver training. Even if you get a citation or an at-fault accident, you can discover an affordable rate from various insurance providers.

Some people may still be concerned about obtaining a low-cost policy while having an imperfect driving history. Fortunately, insurers like Erie recognize the difficulty and provide reasonable rates even if you have had one or two incidents in the past. In addition, regardless of driving record, Erie is substantially cheaper than the national average, whereas Mercury is higher.

Which is cheapest for good drivers?

Erie grants low rates to safe drivers. The company’s $48 monthly charge for drivers with clean records reflects a $360 annual price cut from the national average and $672 in savings in comparison to Mercury. With so much money back in your pocket, you may want to think about getting uninsured motorist coverage. It protects you against drivers who do not have insurance.

Which is cheapest after a speeding ticket?

Speeding tickets often result in higher rates for policyholders. Thankfully, Erie still provides drivers with monthly rates that are $49 cheaper than the national average and $74 less than Mercury. By choosing Erie over Mercury, drivers with a recorded speeding ticket save an average of $888 per year.

Which is cheapest after an accident?

Perhaps due to the generous accident forgiveness available, Erie offers drivers an average monthly rate of $65 even after an at-fault accident. Erie rates fall well below the national average by $48 per month, or $576 per year. Erie is less than half the cost of Mercury, and drivers can save $1,188 per year by choosing coverage from Erie over Mercury.

Which is cheapest after a DUI?

Once again, Erie offers the lowest rates. According to the national average, drivers who move from a clean record to a DUI should anticipate a hefty premium hike. Rates from Erie and Mercury also increase, but both companies offer rates below the national average. Erie offers a lower price of $86 per month, in comparison to the Mercury rate of $142 per month.

Erie vs. Mercury Car Insurance: What discounts does each offer?

Erie Discounts

• College student

• Multi-policy (bundling car insurance with other insurance products like homeowners insurance, business insurance, or life insurance)

• Pay in full

• Safety savings (airbags, antilock brakes, anti-theft devices, and other safety features)

• Vehicle storage

• Youthful driver

Mercury Discounts

• Anti-theft features

• Autopay

• E-signature

• Good driver

• Good student

• Multi-car

• Multi-policy

• Pay in full

• RealDrive

Our Methodology and How We Compared Erie and Mercury

The car insurance quotes provided in Insurify’s insurance company comparison guides are based on the analysis of over 50 thousand insurance quotes from 500 ZIP codes nationwide. Insurify’s data science team performs a comprehensive analysis of factors car insurance providers weigh to calculate rates, including driver demographics, driving record, credit score, desired coverage level, and more to give representative samples.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating calculated by weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers a window into how insurance providers compare to one another in terms of both cost and quality.