Bodily Injury Costs Increase in Virginia, According to Mercury Insurance

Core Insights - Mercury Insurance has launched a new personal umbrella insurance policy in Virginia to provide additional protection against rising bodily injury claims, which have increased by 35% since the pandemic began [1][2]. Group 1: Product Offering - The new umbrella insurance policy offers enhanced coverage starting at just over $1.00 a day, aimed at protecting Virginians from unexpected accidents that could lead to significant out-of-pocket expenses [2][5]. - Key features of the updated umbrella product include increased liability coverage options, allowing policyholders to raise their coverage from $1 million to $2 million based on their needs [9]. Group 2: Market Context - The launch in Virginia marks the ninth state for Mercury's expanded insurance product, following previous launches in states such as California, Texas, and Florida [4]. - The trend of rising liability injury claims is prompting homeowners and auto owners to seek additional coverage beyond traditional policy limits [2][5]. Group 3: Company Background - Mercury Insurance operates in 11 states and offers a variety of insurance products, including personal auto, homeowners, and business insurance, through a network of over 8,000 independent agents [7][10]. - The company has been recognized for its competitive rates and excellent customer service, earning an "A" rating from A.M. Best and accolades from Forbes [11].