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Compare Mercury vs. State Farm: Quotes, Discounts (2022)

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Doug Shaffer

By: Doug Shaffer

Edited by Tanveen Vohra

Last Updated May 11, 2022

Why you can trust Insurify

Insurify partners with top insurance companies and is a licensed agent in all 50 states. However, the insurance experts writing our content operate independently of our partners. Check out reviews from over 3,000 satisfied customers, how we make money, our data methodology, and our editorial standards.

Mercury vs. State Farm: A Summary

Mercury and State Farm are both great candidates for drivers looking to compare car insurance before buying a policy. While State Farm offers one of the lowest monthly premiums at $52 per month, both insurance companies have Insurify Composite Scores over 80.

Discover how both companies stack up against each other in the chart below.

Insurance CompanyAvg. Monthly Car Insurance QuoteInsurify Composite Score (ICS)
Mercury$10281
State Farm$5288
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.
Insurify Composite Score

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 is based out of California and offers auto insurance coverage in 11 states, including New York, Florida, Texas, and Illinois. While the company only provides basic car insurance, it does give drivers additional options that many other insurance providers don’t, such as mileage-based insurance and mechanical protection insurance.

The company’s monthly premiums tend to be higher than other insurance companies. Still, it is a good option for high-risk drivers who have a hard time finding affordable coverage.

Overall, if you reside in one of the 11 states where Mercury is available, it wouldn’t be a bad idea to add it to your list of auto insurance providers to consider.

Pros

  • Fast online quoting process

  • Offers unique coverage options, like mileage-based insurance and mechanical protection coverage

  • Provides rideshare insurance for Uber and Lyft drivers

  • Long list of discounts available to motorists

  • Insurance bundling opportunities with home insurance

Cons

  • Policies only available in 11 states

  • Cannot customize auto insurance policies

  • When purchasing a policy, you have to go through an insurance agent

  • Drivers can’t file claims online

State Farm

State Farm is by far the largest auto insurer in the U.S. The National Association of Insurance Commissioners (NAIC) stated that in 2020 State Farm had captured more than 16 percent of the market share for private passenger auto insurance.

It is easy to see why many drivers choose State Farm over other insurance providers such as Mercury, Allstate, or GEICO. The company offers drivers a long list of discounts that help with lowering the already affordable premium rates. State Farm also provides a wide range of insurance products to add to your current coverage.

Pros

  • Abundance of discounts available to drivers

  • Provides additional coverage for travel and rental car expenses

  • Above-average customer satisfaction ratings

  • Extremely affordable auto policy rates

  • Excellent financial strength ratings

  • Numerous discounts to apply for

Cons

  • Currently doesn’t provide gap insurance for policyholders

  • Repairs for claims often use non-original parts

  • No discounts available for long-term customers

External Financial Strength Ratings

Even though both insurance companies rank well for financial stability, State Farm outdoes Mercury in every category. Customers looking for a company with a good reputation and strong financial ratings would be hard-pressed to find a better option than State Farm.

Auto Insurance CompanyFitch RatingA.M. Best RatingMoody’s RatingS&P RatingJ.D. Power Rating
MercuryAAA2N/A3.9/5
State FarmN/AA++A1AA4.2/5

The Best Car Insurance Companies in 2022

RankCompany NameAverage Monthly QuoteInsurify Composite Score
1Clearcover
Best Overall
$13597
2Nationwide
Best for Safe Drivers
$19989
3American Family
Best for Families with Teen Drivers
$23489
4Safeco
Best for Drivers with Poor Credit
$18686
5Farmers
Best for Rideshare Coverage
$23985
6Foremost
Best for Hassle-Free Claims
$15982
7Liberty Mutual
Best for Accident Forgiveness
$24182
8Mercury
Best for Face-to-Face Service
$23281
9Progressive
Best for Senior Drivers
$14780
10Travelers
Best for Young Drivers
$16380
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: The Best Car Insurance Companies

Often, there isn’t one insurance company that is the best at everything. Most companies provide benefits that make them the best for specific types drivers. For instance, Mercury insurance has excellent face-to-face service, making them a great fit for drivers who want to use an agent. However, drivers who want cheap rates should request a quote from State Farm.

Compare Mercury vs. State Farm: Which Is Cheaper?

State Farm has Mercury beat in every category when it comes to affordable auto insurance policies. Not only is it almost $50 cheaper per month for standard coverage, but it is cheaper in every category. For example, an 18-year-old driver pays nearly $200 more per month if they buy their car insurance through Mercury compared to State Farm.

The Cheapest Car Insurance Companies in 2022

RankInsurance CompanyAverage Cost Per MonthICS
1USH&C$44Not Rated
2Metromile$63Not Rated
3Direct Auto$64Not Rated
4Travelers$6580
5Kemper$71Not Rated
6Progressive$87Not Rated
7Mile Auto$9185
8National General$9358
9Clearcover$9497
10GAINSCO$94Not Rated
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Mercury Insurance doesn’t make the list of cheapest car insurance companies for any subgroups, but State Farm is an excellent option for several categories. State Farm has the lowest average rates for drivers with excellent credit ratings and drivers with a DUI on their driving record.

See More: The Cheapest Car Insurance Companies

Compare Mercury vs. State Farm Car Insurance by Age

Most insurance companies use a driver’s age to determine the price of premiums when setting rates. Often, younger drivers will have higher average monthly premiums than older drivers. The price difference is often a result of experience—the more experience a driver has behind the wheel, the less they usually pay for coverage.

Both Mercury and State Farm follow the same pattern and assign higher average rates to young drivers. For example, 18-year-olds pay almost four times as much for an auto insurance policy than 55-year-olds when purchasing through Mercury. While State Farm is a little better, younger drivers still pay roughly three times more for coverage.

Age GroupMercury Avg. Auto Insurance RatesState Farm Avg. Auto insurance Rates
Teens$315$116
20s$104$50
30s$107$46
40s$93$45
50s$82$43
60s$86$43
70s$98$49
80s$105$55
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Compare Mercury vs. State Farm Car Insurance by Gender

Gender statistics are often used by insurance providers when setting auto insurance rates. The data repeatedly shows that male drivers are more likely to be riskier behind the wheel than female drivers. Because of this increased risk, male drivers tend to have slightly higher monthly premiums.

While State Farm does follow this model and offers rates that are $3 less for female drivers, Mercury does not. In fact, on average male drivers pay $6 less for coverage each month.

Which is cheapest for men?

Male drivers looking for the cheapest rates should consider State Farm over Mercury. On average, men pay $45 less per month with State Farm than Mercury and $17 less per month than the national average.

GenderMercuryState FarmNational Average
Men$99$54$70
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Which is cheapest for women?

When comparing Mercury insurance to State Farm, there is no question which company offers the cheapest rate for women. State Farm policies are less than half the price of Mercury, with women paying an average of $50 per month for coverage. Out of the two, State Farm is also the only one to come in below the national average.

GenderMercuryState FarmNational Average
Women$104$50$68
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Compare Mercury vs. State Farm Car Insurance by Mileage

Depending on whom you get your auto insurance policy through, you may notice that you qualify for a discount based on the amount of mileage you drive. If you plan on using Mercury or State Farm, it is important to note that the average cost of a standard policy stays relatively the same regardless of how many miles you drive.

Mercury, however, does offer a mileage-based insurance policy that tends to help bring down the cost of coverage depending on how many miles you drive each year.

Which is cheapest for drivers with high mileage?

Drivers who intend on driving 15,000 to 20,000 miles a year should consider purchasing their insurance through State Farm. Not only is an average policy $54 less a month than a policy through Mercury, but it is also well below the national average.

Annual Mileage CategoryMercuryState FarmNational Average
15,000-20,000 miles$104$50$68
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: Car Insurance for High-Mileage Drivers

Which is cheapest for drivers with low mileage?

Motorists who only use their vehicle occasionally and drive less than 10,000 miles per year should consider State Farm over Mercury insurance. State Farm insurance auto policies are typically around $50 per month, whereas a Mercury insurance policy is more than $100 each month.

Annual Mileage CategoryMercuryState FarmNational Average
5,000-10,000 miles$104$50$68
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: Car Insurance for Low-Mileage Drivers

Compare Mercury vs. State Farm Car Insurance by Credit Score

Your credit score can impact more than just your ability to get a loan or a credit card; it can even have a significant impact on your auto insurance rates. Most insurance providers see bad credit scores as a sign that a driver will take more risks behind the wheel and file more claims.

Mercury and State Farm showed an increase in the average quote when the driver applying for coverage had a poor credit score.

Which is cheapest for good credit?

If you have good credit and are looking for a company to purchase your auto insurance through, State Farm is one of the best options. It’s nearly $20 less than the insurance industry averages and also $50 less than Mercury insurance.

Credit TierMercuryState FarmNational Average
Excellent Credit$79$33$51
Good Credit$96$43$61
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: Car Insurance for Drivers with Good Credit

Which is cheapest for bad credit?

Mercury and State Farm charge significantly more than the national average to cover a driver with a lower credit score. Mercury charges $140 a month, while State Farm has an average of $116 for auto insurance.

Credit TierGEICOAmerican FamilyNational Average
Average Credit$103$57$67
Poor Credit$140$86$102
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: Car Insurance for Drivers with Bad Credit

Compare Mercury vs. State Farm Car Insurance by Driving Record

Insurance companies often use driving history and records to help set rates for motorists. Drivers who keep a clean record and avoid speeding or at-fault accidents are seen as safer to insure and often receive lower rates. However, those who have received a ticket or a DUI are considered risky and typically pay higher premiums.

Depending on the auto insurance company you decide to purchase through, having a clean record could entitle you to different discounts. Many insurance providers have a “safe driver” discount that helps lower your rates the longer you go without an accident or a ticket.

Mercury and State Farm reward drivers with a clean record, offering them the best rates. However, accidents and tickets both had a negative impact on average rates and caused the price to increase by more than $60 in some instances.

Which is cheapest for good drivers?

If you are a driver who has avoided tickets and accidents and maintained a clean driving record, then you should consider State Farm over Mercury insurance. Not only does State Farm’s coverage cost $53 cheaper per month on average, but it is also well below the national average by $17.

Driver TypeMercuryState FarmNational Average
Drivers with Clean Record$104$51$68
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: Car Insurance for Drivers with a Clean Driving Record

Which is cheapest after a speeding ticket?

If you find yourself with a speeding ticket, all hope is not lost—there are still affordable coverage options. If you choose State Farm, your rates typically only increase by $9 compared to a driver with a clean record. This is much lower than the increase with Mercury Insurance, which raises more than $20 if you receive a speeding ticket.

Driver TypeMercuryState FarmNational Average
Drivers with Speeding Ticket$129$59$77
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: Car Insurance for Drivers with a Speeding Ticket

Which is cheapest after an accident?

Accidents happen all the time, and if you find yourself involved in one, it can significantly impact your monthly premiums. However, some insurance providers are more lenient than others when you have an accident on your driving record. For example, State Farm’s average auto insurance rates are around $64, while Mercury is much higher, at $164 per month.

Driving TypeMercuryState FarmNational Average
Drivers with Accident$164$65$98
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: Car Insurance for Drivers with an Accident on Their Record

Which is cheapest after a DUI?

Most insurance companies see DUIs as high-risk, which is why they tend to offer significantly higher rates compared to drivers with clean records. Although State Farm does have more expensive premiums, it is still considerably lower than Mercury and the national average.

Driver TypeMercuryState FarmNational Average
Drivers with DUI$142$75$113
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

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

Discount TypeMercury InsuranceState Farm Insurance
Anti-theft device
Autopay
E-signature
Good driver
Good student
Multi-car
Multi-policy
Pay in full
Accident-free
Defensive driving course
Student away

Our Methodology and How We Compared Mercury and State Farm

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.

Frequently Asked Questions

  • Between Mercury Insurance and State Farm Insurance, State Farm had the most affordable rates in every comparison. Drivers can expect to pay nearly half the cost by choosing State Farm, as the company offers monthly premiums around $52, while Mercury is over $100 a month.

  • Looking at insurance reviews, financial stability ratings, and customer satisfaction scores, State Farm outperformed Mercury, making it the better option for motorists.

  • The best way to compare Mercury and State Farm insurance quotes is to use an online comparison tool. The Insurify platform makes the shopping and comparison process easy by allowing you to review multiple policies on one single page.

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Doug Shaffer
Doug Shaffer

Content Writer at Insurify

Doug Shaffer works as a content writer. He has had the opportunity to write for several national insurance carriers in the past and brings with him over six years of experience working with both business and consumer products. He enjoys being able to break down complex insurance jargon to allow consumers to fully understand their policies.

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