Mercury's new added protection comes with
environmentally friendly perks, while discounts put hard-earned
money back in the pockets of policyholders
LOS
ANGELES, April 2, 2024 /PRNewswire/ -- Mercury
Insurance (NYSE: MCY) today announces three new coverages and four
new discounts that are available for homeowners or renters in
New Jersey. 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.
"Mercury's new discounts are a big step in the right direction
and a new approach to protecting our customers," said Andrew Morris, product manager of New Jersey at Mercury Insurance. "As a
company, we pride ourselves in caring about our policyholders and
aim to help them in any way possible, so offering expanded
coverages and discounts is a vital part of business to us. We know
that homeowners are reevaluating what's important to them, and that
there is a growing demand for environmentally friendly materials
throughout the home. We support our policyholders in their efforts
to be environmentally conscious by providing coverages and
discounts that help sustain a greener lifestyle."
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 personal property such as HVAC systems
or appliances when replaced with an eco-friendly product. "Each
day, we issue more than a million dollars to put policyholders'
lives back together. At the same time, we also see materials that
will take a long time to break down ending up in landfills. Mercury
is committed to helping policyholders and the environment as well,"
Morris 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.
New discounts include:
- Green Home: Mercury is offering up to a 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 wind and water perils.
- Good Payer: Homeowner policyholders who have 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.
Mercury offers insurance for Personal Auto, Mechanical
Protection Condo, Homeowners, Home Cyber Protection, Home Systems
Protection, Identity Management Services, Renters, and Service Line
Protection in New Jersey.
About Mercury Insurance
Mercury Insurance (NYSE: MCY) is a multiple-line insurance
carrier predominantly offering personal auto, homeowners, renters
and commercial 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 ultra competitive 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