GEICO vs. Mercury: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for car insurance, GEICO offers significantly more affordable rates than Mercury
• GEICO may help you save more money -- they offer more discounts than Mercury Insurance
• GEICO offers more affordable premiums for single people who will be the only person on the auto insurance policy

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GEICO or Mercury: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. You've probably seen commercials and billboards from companies offering huge savings, but exactly how much money can you save by switching?

You might have narrowed your search down to GEICO or Mercury as potential options, but between the two, which carrier will offer you cheaper rates?

Looking at nationwide averages, Mercury has average rates that are around 35% a month more expensive than those from GEICO.

However, GEICO may not be the lowest or best option for each driver out there. Car insurance carriers use a ton of complex algorithms to determine prices, so depending on where you live or how clean your driving record is (among a whole range of other factors), you could see wildly different premiums from the ones above.

So, if you want to find out which of GEICO or Mercury is really the best for you, keep reading to see average prices for each company broken down by several different rate factors.

GEICO vs. Mercury: Average Car Insurance Rates by State

GEICO and Mercury compete against each other in 11 states, with GEICO offering less expensive premiums to the average driver in all but two of them. If you live in California or Illinois, Mercury is the more affordable of the two companies when looking at the overall average rates, but GEICO is the cheaper option in most of the others.

That being said, there are plenty of other factors that go into your insurance payment than just the state you live in. Keep reading to learn more.

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Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for auto insurance than any other group of drivers out there on the road. The reason is that teen drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

Even so, that doesn't mean teen drivers can't still save money on their car insurance. Just look at the table above -- where 18-year-old drivers who have GEICO for their insurance pay over 50% less than those who use Mercury.

But with both carriers, you'll see your premiums lower significantly by the time you turn 25. Mercury offers the steepest drop, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, GEICO still has the most affordable prices at $163 a month.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the cheapest auto insurance rates you'll ever see. After all, they've likely been driving for quite some time, which normally decreases their chances of collisions and other infractions that can raise premiums.

But who has the best rates for retired drivers between GEICO and Mercury? GEICO gets the edge, with prices for drivers 65 and older more than 30% cheaper than the national average for Mercury.

Which is the Best Company for Married Drivers?

Did you know that insurance premiums are generally less expensive for married policyholders than they are for single policyholders? That's typically because married couples tend to own and insure multiple vehicles, which can often earn you a discount.

For single drivers, the difference in average rates between these two companies is significant, with GEICO prices coming in at about half of Mercury's. The advantage is also clear for married drivers - GEICO offers the lowest average premiums.

GEICO or Mercury: Average Rates by Gender

Men are statistically more likely than women to get into a collision or get pulled over for speeding. That means when it comes to car insurance men will normally end up paying a little more.

With GEICO, women usually pay around 4% per month less than men, and about 5% less with Mercury when compared to their male counterparts.

Looking at overall affordability, GEICO offers the cheapest average prices for both men and women. On average, women save about $107 a month and men save around $113 with GEICO compared to the average Mercury policyholder.

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GEICO vs. Mercury: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

Auto insurance can be a complicated subject for most people. There are so many different terms and coverages that it can make it pretty confusing to find the right policy for you.

That being said, most policies that drivers look at fall into two categories -- liability coverage (which provides bodily injury and property damage coverage for other drivers and passengers if you cause an accident) and full coverage (which includes two additional coverages -- collision and comprehensive -- in addition to what you get with liability).

Looking specifically at state minimum liability limits, GEICO has the significant edge, with average monthly rates coming in at $101. If you want a full coverage policy with the same state minimum limits, GEICO again has the edge, with policies averaging about $269 per month to Mercury's $406.

Is GEICO or Mercury Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance carriers offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

At-fault accidents and speeding tickets will most likely raise your rates, but is GEICO or Mercury more affordable for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use GEICO for their insurance can generally expect their monthly bill to go up around 23% after getting a speeding ticket. Mercury policyholders can expect a less drastic increase of about 19%.

But GEICO has less expensive prices for drivers in both categories, offering rates that are 51% and 49% cheaper, respectively, compared to Mercury Insurance.

Which Company is Best for Drivers After an Accident?

GEICO drivers who get in a collision can expect to see their prices increase by just under 45%, while those who have insurance through Mercury will see around a 30% increase.

At the end of the day, GEICO offers the most affordable premiums for drivers with an at-fault collision on their records, with average prices coming in at $200 compared to Mercury Insurance's $346.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your car insurance bill. On average, GEICO will climb your rates about 58% after a DUI, while Mercury's average premiums climb by more than 20%.

But if you end up with a DUI charge and are looking for more affordable prices, GEICO tends to be more affordable for the average driver, with monthly premiums coming in at around $275 to Mercury's $303.

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How does Credit Score Impact GEICO and Mercury Rates?

Often times, your credit score can be used as one of the variables to calculate your monthly insurance rates. This isn't true for everyone (for example, Massachusetts and California are two states that ban the practice entirely), but it does affect quite a few policyholders out there.

The reasoning auto insurance companies use is that drivers with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper premiums, while those with poor credit will normally be forced to pay more.

Looking specifically at Mercury and GEICO, which company has the best rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, GEICO will typically reward you the most. For drivers with "excellent" credit scores, GEICO comes in over 41.26 cheaper. Drivers with "good" credit scores generally save about 38% with GEICO compared to average prices from Mercury.

Which Company is Best for Drivers with Bad Credit?

GEICO typically offers lower premiums than Mercury when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay around 35% a month less with GEICO compared to Mercury, and those with "poor" scores usually save an average of about 38% monthly.

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Is GEICO or Mercury Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a considerable impact on how much insurance carriers will charge for coverage? That's because the more milage you put on your car each year, the more likely you are to be in an accident and file an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Mercury charges. However, there's a small difference in monthly prices for GEICO, with drivers who put 6,000 miles on their vehicle every year paying around $8 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, GEICO is the less expensive carrier.

GEICO or Mercury: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for car insurance, but the type of area you live in can have a large impact as well. Typically, if you live in an urban area with more cars on the road, you'll pay a little more for auto insurance, while the opposite is true for people in rural areas.

When comparing these two companies side-by-side, GEICO usually comes out as the most affordable option for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, GEICO's average rates are about $211 per month compared to Mercury's $401. People in suburban areas pay around $185 with GEICO compared to Mercury's $275 per month. If you live in a rural area, you can expect to pay about $159 a month with GEICO compared to Mercury's $209.

GEICO vs. Mercury Discounts

No matter why you might be in the market for a new insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many car insurance discounts as possible.

But with what seems like a million different discounts out there, it can be challenging to find all the ones you're eligible for or to nail down the carrier that has the most discounts for your unique driver profile.

Luckily, we did the hard work for you and compared all of the different discounts offered by GEICO and Mercury so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Overall, GEICO comes out ahead with 28 discounts to Mercury's 27.

There are a couple discounts both carriers offer, but GEICO also offers discounts for commercial drivers license, deployed driver, driver training, and more.

On the other hand, Mercury has a few proprietary discounts of their own for things like advance quote discounts, continuous insurance discounts, e-signature discounts, and more.

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Final Thoughts: Is GEICO or Mercury Best for You?

You've seen the effect certain factors have on your auto insurance and the different discounts companies offer. That's all well and good, but at the end of the day, which insurance company is the right one for you and your specific profile and needs?

GEICO might be best for you if....

• You haven't received any speeding tickets or been in a collision in the last few years.
• Your credit score is high.
• You are purchasing your car insurance with a spouse.

Mercury might be best for you if...

• You have a more unique driver profile than those we mentioned above.

Hopefully, this guide helps you get a good idea of the differences between GEICO and Mercury. We also hope we've given you the information you need to make the best decision about your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from multiple carriers, not just GEICO and Mercury. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best insurance companies in your area, all for free.

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GEICO vs. Mercury FAQs

Is GEICO or Mercury cheaper?

GEICO is the cheaper of the two carriers when looking at national average premiums, with policies averaging $185 a month with GEICO and $295 for Mercury. That being said, that doesn't mean GEICO will be the lowest carrier for every driver, since there are a range of different variables (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, GEICO or Mercury?

Unfortunately, the only answer we can give you is "it depends.". Neither company is "better" for each policyholder -- it all boils down to your unique auto insurance profile.

Why do GEICO and Mercury offer me different rates?

Car insurance companies use several different factors when determining the prices they charge. Variables like your driving record, where you park your car, gender, age, and sometimes even things like your credit score can all be used. Both GEICO and Mercury calculate rates using different formulas, so it's likely they'll offer different premiums. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from lots of different carriers.

How do I know if GEICO or Mercury is right for me?

The only way to find the auto insurance company that's right for you is by getting quotes from a handful of companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top insurance carriers for free. That way, you can guarantee you're getting the cheapest price. And maybe you'll find that the best carrier for you isn't GEICO or Mercury at all, but another you hadn't even thought of!

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Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.