Mercury Insurance Announces $72 Million Rate Reduction for Auto Policyholders

LOS ANGELES, Dec. 9, 2010 /PRNewswire/ --Mercury Insurance, one of California's leading auto insurers, announced today a $72 million rate reduction for California drivers that includes a rate decrease that could reach up to 10% or more, a new group affiliation discount for university alumni, and the inclusion of 24-hour Roadside Assistance for auto policyholders with comprehensive and collision coverage.

"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 Mercury Chief Product Officer Robert Houlihan. "We've always been known for providing our customers with the best insurance value possible through a combination of low rates, quality coverage and personalized service. These savings will help families stretch their hard earned dollars as the nation's economy moves toward recovery."

Today's announcement follows the approval of Mercury's rate reduction request by the California Department of Insurance. Mercury currently insures nearly 2 million California vehicles. Under the newly approved rates, which go into effect on December 15, Mercury's auto policyholders and new customers in California will save an average of about $36 per vehicle for a total of more than $72 million.

"If you are a member of any university alumni association you can save even more," noted Houlihan. To receive the discount, which is easily secured, requires that policyholders notify their agents that they are members of a college or university alumni association.

Mercury has also improved the benefits offered to customers with the inclusion of 24-hour roadside assistance for policyholders who purchase comprehensive and collision coverage.  

"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," said Houlihan.

About Mercury Insurance

Mercury Insurance (MCY) is a multiple-line insurance organization offering predominantly personal automobile and homeowners insurance through a network of independent agents and brokers in California, Florida, New Jersey, Texas, Arizona, New York, Georgia, Oklahoma, Illinois, Michigan, Nevada, Virginia and Pennsylvania.

Since 1962, Mercury Insurance has demonstrated its commitment to customer satisfaction by offering quality insurance at affordable prices. Today, good service and good pricing are the core values that distinguish Mercury in the marketplace. For more information about Mercury Insurance, please visit www.MercuryInsurance.com or contact Erik Thompson at (661) 291-6435.

SOURCE Mercury Insurance