Compare Mercury vs. Nationwide: Quotes, Discounts (2023)

Mercury vs. Nationwide: A Summary

Mercury and Nationwide are two top-performing companies in the auto insurance industry. Mercury Insurance is a regional car insurance provider that operates in 11 states, while Nationwide is among the top 10 largest car insurers in the United States. Read on to determine which is the best fit for you, and always make sure to compare car insurance rates.

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.

Mercury

Mercury Insurance was founded by George Joseph in Los Angeles in 1962. Since then, it has grown to sell policies in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia. Policyholders enjoy add-ons such as rental car reimbursement, a mobile app, mechanical protection, and numerous coverage options.

Nationwide

Nationwide is one of the nation’s largest and most well-known insurers. It features insurance products like accident forgiveness, vanishing deductibles, and roadside assistance with towing. Like any insurer, it has its pros and cons, and drivers should examine these to determine whether or not it’s the right choice for their individual needs.

The Best Car Insurance Companies in 2022

Mercury Insurance ranks eighth as the best auto insurance company for face-to-face service. And Nationwide is a leading car insurance provider for safe drivers. So if you have had no collisions or citations in the last three years, Nationwide may be worth considering. Also, both insurers allow you to customize your coverage to your specific needs.

Compare Mercury vs. Nationwide: Which Is Cheaper?

Nationwide is the slightly more budget-friendly insurer. But there are certain spots where Mercury is the cheaper option, specifically if you have excellent credit or a speeding ticket or DUI in your recent driving history. And the two companies really are close, with the average car insurance bills being $102 per month at Mercury and $101 at Nationwide.

The Cheapest Car Insurance Companies in 2022

Both companies fall outside of the top 10. Nevertheless, both offer competitive pricing to specific segments of the market. For example, Mercury caters to folks who value in-person service. And Nationwide strives to be a one-stop shop for insurance as well as retirement savings, asset management, and other investments.

Compare Mercury vs. Nationwide Car Insurance by Age

Why does age matter? Underwriters would argue it’s significant for a few reasons. First, older drivers have more experience and are more creditworthy. They are also more likely to be homeowners, a source of a possible discount. All three variables play a role in older drivers paying far less for auto insurance policies than young folks, particularly those under 25.

Mercury’s and Nationwide’s prices trace a similar pattern. First, teens pay the highest insurance premiums and then expenses gradually decrease until policyholders hit their golden years. In particular, those in their 50s get the best rates from both insurance companies. Moreover, Mercury’s lowest monthly premium is $82, whereas Nationwide’s is $75.

Compare Mercury vs. Nationwide Car Insurance by Gender

Insurers factor gender into the rating algorithms used to determine your premium, but typically, the price difference is minimal. However, it can be substantial for some insurance providers. For example, women are statistically less aggressive drivers than men, particularly young men. As a result, women score a bit of a price break compared to their male counterparts.

Surprisingly, Mercury bucks the standard and bills women five percent more than men, equating to $60 each year. Why? Perhaps the insurer leans on some other rating factor when setting the premiums for women. On the other hand, Nationwide adapts the industry norm and charges men $7 more than women monthly, representing a seven percent gap.

Which is cheapest for men?

Men searching for the best bargain might consider Mercury. Mercury’s rate of $99 per month translates to a $72 per year price cut versus Nationwide. However, because the premiums for both businesses are more than the national average, men may want to visit Insurify to find a rate that approaches or dips below the $81 per month national average.

Which is cheapest for women?

Women who know how to balance their budgets may just wish to pick Nationwide. Its monthly fee is $6 less than Mercury’s $104 price tag. The annual savings total $72, which goes right into your pocket. Because both insurers’ monthly premiums overstep the national average of $78, it might be wise to see what the competition can serve up.

Compare Mercury vs. Nationwide Car Insurance by Mileage

Your auto insurance rates will generally climb with the annual miles you put on the odometer. It’s primarily because of the insurer’s awareness that more time spent in the vehicle increases the probability of an accident. However, the price difference between different mileage levels is significant at some car insurance companies but not at others.

At Mercury, it doesn’t matter if you drive one mile or 20,000 miles, the price stays steady. On the other hand, Nationwide does something that’s somewhat counterintuitive. It charges the most for the people who drive the least. Perhaps the insurer weighs another variable with greater significance. That said, both companies shoot past the national average at all levels.

Which is cheapest for drivers with high mileage?

If you’ve got a long daily commute or enjoy weekend road trips, Nationwide could be the place for you. The company saves you $6 per month and $72 yearly compared to Mercury. Ignoring the fact that both insurance providers’ rates hover above the national average of $78 a month, Nationwide is the most affordable alternative.

Which is cheapest for drivers with low mileage?

Drive 10,000 miles or fewer? Again, Nationwide is the most reasonable way to go. At the 5,000-mile level, Nationwide’s $102 monthly premium provides a modest $2 discount over Mercury. At the 10,000-mile level, Nationwide’s savings versus Mercury bump up to $6 per month, yielding a $72 annual price break. Both insurers top the national average at all levels.

Compare Mercury vs. Nationwide Car Insurance by Credit Score

According to insurance studies, there’s a correlation between creditworthiness and safe driving. As a result, insurers review your credit to help them set rates in almost every state. Only California, Hawaii, and Massachusetts ban the practice. However, if your credit is imperfect, you can still get a reasonable price.

Mercury and Nationwide, as well as the national average, are on a pretty much identical path. Without fail, pricing rises as credit score falls. In addition, people with excellent credit spend 35 percent less than drivers with poor credit at Nationwide. The same category of drivers catches a 44 percent break at Mercury.

Which is cheapest for good credit?

Those with excellent credit can safely pick Mercury over Nationwide. It’s one of few places where Mercury is a better deal. But if you have good credit, the scales get tipped in the other direction, and Nationwide is once again the better buy. Nonetheless, both companies are more expensive than the national average by wide margins.

Which is cheapest for bad credit?

Are you looking to build or repair your credit? Think about Nationwide. Nationwide is a humble $2 less expensive per month than Mercury for drivers with average credit. But the difference becomes stark at the poor credit level. Nationwide gives a $15 per month, or $180 yearly, price break versus Mercury. Even so, both insurers are more expensive than the national average.

Compare Mercury vs. Nationwide Car Insurance by Driving Record

Since insurers don’t have a crystal ball, the only way to reliably predict the future is to look at past data. Insurers factor your driving history from the last three or five years into your insurance rate. However, one of the easiest ways, that’s often overlooked, to secure an inexpensive premium is to avoid tickets and accidents.

Drivers who have a recent speeding citation, at-fault collision, or DUI pay significantly more than those with a clean driving record. One of the best ways to keep your premiums down is by avoiding infractions on your record.

Which is cheapest for good drivers?

Nationwide skates under Mercury by $2 per month. Safe drivers could go with either, depending on what add-ons and coverage options are available. That said, both companies overrun the $78 monthly national average, so seeking quotes from multiple insurers besides these two is a sensible move.

Which is cheapest after a speeding ticket?

Speed traps, police officer ticketing quotas, and the unexpected late mornings all set folks up for a citation. So check out Mercury if you have a speeding violation on your record. The insurer’s charge is $3 per month cheaper than Nationwide. That said, it’s still significantly more expensive than the national average of $104 a month.

Which is cheapest after an accident?

It could have been an object on the road, a mechanical breakdown, or someone slamming on their brakes that caused your accident. But no matter the cause, there’s a lot to do after a wreck. So your car insurance rates may slip your mind until you get your renewal letter. After an at-fault accident, Nationwide beats Mercury by $10 per month.

Which is cheapest after a DUI?

DUI auto insurance premiums are typically so excessive that some folks prefer to take Uber or Lyft rather than drive. However, before you choose ridesharing, look into Mercury. Remarkably, this is one of a few instances where Mercury trounces Nationwide. As a result, Mercury will save you $40 each month. But it’s still much pricier than the national average of $155.

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

Mercury Discounts

• Anti-theft feature

• Autopay

• E-signature

• Good driver

• Good student discount

• Multi-car

• Multi-policy discount (bundling your car insurance coverage with other types of insurance like homeowners insurance, renters insurance, umbrella insurance, or business insurance)

• Pay in full

• RealDrive

Nationwide Discounts

• Accident-free

• Anti-theft device

• Automatic payments

• Defensive driving

• Good student

• Multi-policy

• Safe driver

• SmartMiles

• SmartRide

Our Methodology and How We Compared Mercury and Nationwide

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.