Mercury’s new extra protection comes with green benefits, while rebates put hard-earned cash back in policyholders’ pockets
LOS ANGELES, June 8, 2022 /PRNewswire/ — Mercury Insurance (NYSE: MCY) today announced five new coverages and five new discounts available to homeowners and renters in Illinois. Mercury’s new coverages provide additional insurance protections with an option for environmentally friendly replacement products. Discounts are available for homeowners who are already taking green measures and will put hard-earned money back into policyholders’ pockets.
“Providing residents of the Prairie State with more ways to save money is extremely valuable, and the added protections show that Mercury is there for when even more things can go wrong,” said david trumpMercury Insurance product manager for Illinois. “Providing savings and great value is incredibly important, and Mercury has done that since we started. Our additional coverages and savings are a natural fit.”
New covers include:
- green house: Mercury will cover up to an additional 10% of replacement costs for alternatives or environmentally responsible construction methods with a covered loss. For example, if an owner with this additional coverage has damaged carpeting and chooses an eco-friendly replacement, Mercury will issue funds up to 10% more than the carpet replacement costs so the owner can choose for green flooring option. The protection also extends to other types of goods, such as an HVAC or appliances, when replaced with an environmentally friendly product. “Every day, we issue more than $1 million to restore the lives of policyholders and, at the same time, we see materials that will take a long time to degrade end up in landfills. Mercury will continue to help policyholders and, if we get the chance, so does the environment,” Trump said.
- Matching undamaged siding and roofing: Often the repair of the roof or siding is limited to a damaged area of the house and over time the old, existing, undamaged materials fade away or the roof or siding is no longer available. In the past, homeowners could end up with a roof or siding that didn’t match. Today, Mercury offers two additional covers (cladding or roofing) which also allow the undamaged parts to be replaced in the event of a shift.
- Limited hidden water, vapor infiltration or leakage: Water complaints are one of the most common complaints that can lead to costly repairs as well as many inconveniences for homeowners. In some cases, a water leak can be hidden from the homeowner in a wall or ceiling and last for weeks or months and only be found when a wall is open. To better protect homeowners against water damage that is hidden, Mercury offers coverage that would apply to damage resulting from these cases.
- Chilled products: During the pandemic, many homeowners have spent hundreds of dollars stocking their refrigerators from top to bottom. Mercury’s new protection covers up to $1,000 of food in the event of a power outage or mechanical failure of a refrigerator resulting in spoiled food.
New discounts include:
- Green house: Mercury offers up to 5% all risk reduction if the home is green certified by the US Green Building Council’s LEED rating system or meets the requirements of the National Association of Home Builders Green Building Guidelines (NAHB).
- Home updated: Mature homes, over 20 years old, with approved renovations, such as HVAC replacement, re-roofing, remodeling or a new addition, within the past 10 years are eligible for a discount of up to 10% on wind and water risks.
- Good payer: Home insurance policyholders who have paid on time in the last 36 months are eligible for the good payer’s discount, which saves 2% on the policy. New businesses and existing policyholders are eligible for the discount.
- Fully Paid: Mercury offers a premium discount of up to 10% for tenant insurance policyholders.
- Digital: This is a new reduction of up to 2% savings on premiums for policyholders who register for the customer portal, the dematerialization of invoicing and the directory of dematerialized documents.
Mercury offers insurance for personal auto, mechanical protection, transit, condominium, landlords, home cyber protection, home systems protection, identity management services, renters, the service line, company automobile and personal umbrella in Illinois.
About Mercury Insurance
Mercury Insurance (NYSE: MCY) is a multi-line insurance company providing primarily auto, home and renters insurance through a network of independent agents in Arizona, California, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginiaas well as auto insurance Florida. Mercury underwrites other lines of insurance in various states, including commercial, business owner, and auto, homeowner, home-sharing, ride-sharing, and mechanical protection insurance.
Since 1962, Mercury has been providing customers with exceptional value for their insurance dollar by combining ultra-competitive rates with excellent customer service. Mercury earned “A” ratings from AM Best and Fitch, as well as the highest ranking in the 2021 JD Power U.S. Insurance Digital Experience Study,SM recognized as one of “America’s Best Insurance Companies for 2022″ by Forbes and four consecutive “Best Auto Insurance Company” awards by Insure.com. For more information, visit www.MercuryInsurance.com or follow the company on Twitter or Facebook.
SOURCE Mercury Insurance