Mercury's new added protection comes with
environmentally-friendly perks, while discounts put hard-earned
money back in the pockets of policyholders
LOS
ANGELES, June 30, 2023 /PRNewswire/ -- Mercury
Insurance (NYSE: MCY) today announces five new coverages and five
new discounts available for homeowners and renters in Nevada. Mercury's new coverages provide
additional insurance protections with an option for
environmentally-friendly replacement products. Discounts are
available for homeowners already taking eco-friendly measures and
will put hard-earned money back in the pockets of
policyholders.
"One of Mercury's main priorities is providing policyholders
with more ways to save money in the midst of the current trying
times," said Jie Yan, Mercury
Insurance Director of Product Management. "It's important that we
offer customers extra savings at a great value, something Mercury
has done since we first opened for business. Our additional
coverages and savings are proof of the continued determination we
have to provide our policyholders with above and beyond
service."
New coverages include:
- Green Home: Mercury will cover up to an additional 10%
of the replacement costs for environmentally-friendly alternatives
or construction methods with a covered loss. For example, if a
homeowner with this additional coverage has damaged carpeting and
selects an eco-friendly replacement, Mercury would issue funds up
to 10% more than the costs to replace the carpeting so the
homeowner can go with the green flooring option. The protection
also extends to other types of property, such as an HVAC or
appliances, when replaced with an eco-friendly product. "Each day
we issue more than a million dollars to put policyholder's lives
back together and, at the same time, we see materials that will
take a long-time to break down go off to landfills. Mercury is
going to continue to help policyholders and, if we get the chance
to, the environment as well," Yan said.
- Matching of Undamaged Siding and Roofing: Many times,
roofing or siding repair is limited to a damaged area of the home,
and with time the older existing and non-damaged material will fade
or the roofing or siding is no longer available. In the past,
homeowners could end up with roofing or siding that does not match.
Today, Mercury is providing two additional coverages—siding or
roofing—that allow the undamaged portions to be replaced as well
when there is a mismatch.
- Refrigerated Products: During the pandemic, many
homeowners spent hundreds of dollars stocking their refrigerators
from top to bottom. Mercury's new protection covers up to
$1,000 of food items if there's a
loss of power or a mechanical failure of a refrigerator resulting
in spoiled food.
- Limited Hidden Water, Steam Seepage or
Leakage: Water claims are one of the most common claims
that can lead to costly repairs along with many inconveniences for
homeowners. In some instances, a water leak may be hidden from the
homeowner within a wall or ceiling and go on for weeks or months
and only be found when a wall is opened up. To better protect
homeowners from water damages that are hidden, Mercury is offering
coverage that would apply to the resulting damages in these
instances.
New discounts include:
- Green Home: Mercury is offering up to 5% discount
for all perils if the home has a Green certification by the U.S.
Green Building Council LEED rating system or meets the requirements
of the National Association of Home Builders Green Building
Guidelines (NAHB).
- Updated Home: Mature homes, more than 20 years old,
with permitted renovations, such as HVAC replacement, re-roofing,
remodeling, or a new addition, during the last 10 years are
eligible for up to a 10% discount on the wind and water perils.
- Good Payer: Homeowner policyholders who've paid on
time for the past 36 months are eligible for the Good Payer
Discount, which saves 2% on the policy. Both new business and
existing policyholders are eligible for the discount.
- Paid in Full: Mercury is offering a discount of up
to 10% in savings on premium for renters insurance
policyholders.
- Digital: This is a new discount of up to 2% in
premium savings for policyholders who sign up for the customer
portal, paperless billing and paperless document directory.
Mercury offers insurance for Personal Auto, Mechanical
Protection, Ride-Hailing, Condo, Homeowners, Home Cyber Protection,
Home Systems Protection, Identity Management Services, Renters,
Service Line Protection, Business Auto and Personal Umbrella in
Nevada.
About Mercury Insurance
Mercury Insurance (NYSE: MCY) is a multiple-line insurance
carrier predominantly offering personal auto, homeowners and
renters insurance through a network of independent agents in
Arizona, California, Georgia, Illinois, Nevada, New
Jersey, New York,
Oklahoma, Texas and Virginia, as well as auto insurance in
Florida. Mercury writes other
lines of insurance in various states, including commercial,
business owners and business auto, landlord, home-sharing,
ride-hailing and mechanical protection insurance.
Since 1962, Mercury has provided customers with tremendous value
for their insurance dollar by pairing ultracompetitive rates with
excellent customer service. Mercury has earned "A" ratings from
A.M. Best and Fitch, as well as "Best Auto Insurance Company"
designations from Forbes and Insure.com. For more information visit
www.MercuryInsurance.com or follow the company on Twitter or
Facebook.
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SOURCE Mercury Insurance