Mercury's New Umbrella Insurance Better
Protects Arizonans' Personal Wealth Against Bodily Injury
Claims
LOS
ANGELES, Dec. 16, 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 Arizonans' 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
Arizonans 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 Arizona is the
fifth launch of this expanded insurance product for Mercury
Insurance, after California,
Texas, Oklahoma and Illinois. You can learn more about this unique
coverage at Mercury Umbrella Insurance.
"Unexpected accidents are becoming more costly for Arizonans,
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 Arizonans 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
$2 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.
About Mercury Insurance
Headquartered in Los Angeles,
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, through nearly 4,100 employees and a
network of more than 6,500 independent agents in 11 states. 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.
Contact: PCG – Shane Smith (424)
903-3665 (ssmith@pacificcommunicationsgroup.com)
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SOURCE Mercury Insurance