LOS ANGELES, Calif.–Mercury Insurance will drop automobile-coverage rates by at least 10 percent starting next week for some policyholders, the company announced.
The announcement follows approval by state regulators of the Los Angeles-based company’s requested $72 million rate reduction for customers who buy a new policy or renew an old one after next Wednesday, making for savings of an average of $36 per car or small truck, the company said.
“Mercury’s already low rates are now even lower, and we’ve added some great benefits to bring even more value to our California customers,” said Robert Houlihan, Mercury’s chief product officer. “… These savings will help families stretch their hard-earned dollars as the nation’s economy moves toward recovery.”
Mercury, the state’s fifth-largest insurance company, insures nearly 2 million California vehicles, according to the company.
Additionally, members of any university alumni association are eligible for discounts, Houlihan said.
Mercury has also tweaked benefits offered to customers, including 24-hour roadside assistance for policyholders who purchase comprehensive and collision coverage, he said.
“This represents a tremendous value for our customers, because now they don’t have to join a club to get the help they need if they run out of gas, need a tow, or simply lock their keys in their car,” Houlihan said.