Mercury's
new umbrella insurance better protects Texans' personal
wealth against bodily injury claims
LOS
ANGELES, April 3, 2024 /PRNewswire/ --
Multi-vehicle crashes, dog bites or a delivery person being injured
on your property are some of the unexpected events that are putting
Texans' personal financial health at risk. In fact, bodily
injury payouts continue to climb year over year since the
pandemic started, with the average amount for a liability claim
increasing by 35%, according to Mercury Insurance (NYSE:
MCY).
The recent trend of rising liability injury claims for home and
auto owners that exceed traditional policy limits has moved
Mercury to unveil an all-new
personal umbrella insurance policy for Texans that offers extra
protection with bolstered coverages beginning at less than
$1.00 a day.
Per Forbes Magazine, an umbrella insurance policy can be
an excellent addition to your insurance portfolio if you need
liability coverage that goes beyond what your base car insurance or
home insurance policies provide. Umbrella insurance is a good way
to cover your net worth if you were to get hit with a lawsuit.
The state of Texas is the
second launch of this expanded insurance product for Mercury
Insurance, after California.
You can learn more about this unique coverage at Mercury Umbrella
Insurance.
"Unexpected accidents are becoming more costly for Texans, which
puts them at risk of having to pay out of pocket," said
Brandt Minnich, vice president and
chief sales development officer at Mercury Insurance. "Mercury has redesigned its umbrella insurance
to give Texans an extra layer of protection beyond a traditional
auto or home policy. It's an affordable safety net that protects
you from these expensive accidents and litigious lawyers looking
for a big payday."
A cautionary tale for all is that of a Mercury policyholder who had kept the same
limits and coverages since college, even though his personal wealth
had increased significantly. The policyholder, who later became a
doctor, never thought about umbrella coverage until he hit a moped
with his automobile, severely injuring the rider. The rider
subsequently engaged a lawyer and the Mercury insured ended up having to pay out of
pocket for damages that were well beyond his auto policy limit of
$25,000.
"He had payments deducted from his salary for a number of years
until the settlement was paid off," Minnich said.
Key features of Mercury's
significantly updated umbrella product include:
- Multi-policy Discounts: Mercury policyholders can save big with
multi-policy discounts across their auto, homeowners and umbrella
policies.
- 3-year Accident and Violation Free Discount: A 5%
discount is given to all drivers on the Mercury policy with no losses or accidents
during the last three years.
- Uninsured Motorist Coverage: Uninsured motorist coverage
up to $1 million in the event of an
accident caused by a driver who does not have insurance.
- Increased Liability: Policyholders can increase their
liability coverage from $1 million to
$5 million, depending upon
policyholders' coverage needs.
"We consider Mercury's umbrella
policy the 'Goldilocks' of coverage because it offers a very
specific amount of extra protection that fits customers' needs,
which is really important for anyone who wants to safeguard their
future against unexpected expenses and legal liabilities," Minnich
stated.
Mercury offers 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 insurance in California
and Texas.
Headquartered in Los Angeles,
Mercury Insurance provides auto, homeowners and business insurance
through more than 4,700 employees and a network of more than 8,000
independent agents in 11 states.
About Mercury Insurance
Mercury Insurance (NYSE: MCY) is a multiple-line insurance
carrier offering personal auto, homeowners, and renters insurance
directly to consumers and 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 also writes business owners, business
auto, landlord, commercial multi-peril and mechanical protection
insurance in various states.
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