Mercury Insurance Tackles More Auto Insurance Myths

Core Insights - Mercury Insurance is addressing common misconceptions about auto insurance through its "Volume Two" myth-busting series, aiming to inform consumers and help them make better coverage decisions [1] Group 1: Auto Insurance Myths and Facts - Myth 1: Insurance premiums can be negotiated; Fact: Rates are calculated using state-regulated formulas and cannot be negotiated directly [2] - Myth 2: Medical payments coverage is unnecessary if health insurance is held; Fact: Auto policies can cover expenses not included in health insurance, such as deductibles and lost wages [3] - Myth 3: Full coverage means complete protection; Fact: "Full coverage" includes liability, comprehensive, and collision but is still subject to limits and exclusions [4] - Myth 4: All insurance companies are the same; Fact: Insurers differ in underwriting guidelines, risk models, and claims handling, making it essential to compare coverages and service [5] - Myth 5: Not-at-fault accidents do not affect rates; Fact: Filing a claim can influence insurance scores and future pricing, depending on state regulations [6] - Myth 6: New cars are always more expensive to insure; Fact: Insurance costs depend on safety features and repair costs, not just the age of the vehicle [7] - Myth 7: Insurance automatically covers rental cars after an accident; Fact: Rental reimbursement is an optional add-on and not included in standard policies [8] - Myth 8: Insurance pays off loans or leases if a car is totaled; Fact: Settlements are based on actual cash value, which may leave the owner owing money if depreciation is significant [9] Group 2: Company Overview and Mission - Mercury Insurance aims to build insurance confidence by dispelling myths and encouraging drivers to make informed decisions based on accurate information [10] - The company operates as a multiple-line insurance carrier, offering various types of insurance through independent agents across multiple states [11] - Mercury has a strong reputation, with an "A" rating from A.M. Best and recognition as a top auto insurance company by Forbes and Insure.com [12]