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

Quick Facts

• In general, Mercury offers less expensive prices than Central Mutual
• Central Mutual offers cheaper average rates for residents of suburban areas
• Mercury tends to be a much more affordable option for drivers who have below-average credit

Central Mutual or Mercury: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering big savings, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Central Mutual or Mercury, but which company will save you the most?

As you can see, Central Mutual is around $45 more a month than Mercury when looking at the national average rates for insurance.

That being said, that doesn't necessarily mean Mercury will be the cheaper option for every driver. Car insurance carriers vary their premiums depending on things like how good your credit score is, how old you are, how clean your driving record is, where you live, and a variety of other factors, so prices will vary quite a bit from person to person.

So, if you want to find out which of Central Mutual or Mercury is really the best for you, keep reading to see average rates for each company broken down by a variety of different rate factors.

Central Mutual vs. Mercury: Average Car Insurance Rates by State

Central Mutual and Mercury only compete against each other in two states, with Mercury offering more affordable premiums to the average driver in all of them. Georgia has the most noticable difference, where Mercury prices are $128 less expensive than auto insurance premiums at Central Mutual.

But there's more to insurance than just the state you live in. As we mentioned above, there's a lot of things that go into how car insurance companies determine your prices. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance rates of any other group of drivers. It's typically because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Central Mutual for their insurance pay almost 20% less than those who use Mercury.

But both carriers will decrease rates once you turn 25. For example, average premiums for Central Mutual policyholders reduce nearly 45% and Mercury's rates drop almost 70% over that time.

Which is the Best Company for Retired Drivers?

When it comes to auto insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest premiums you'll ever find.

But who has the best prices for retired drivers between Central Mutual and Mercury? Mercury gets the edge here, with average rates coming in at about $219 per month compared to Central Mutual's $275.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance premiums tend to be cheaper for married drivers than they are for single drivers. That's because policies for married couples usually cover multiple vehicles, which lots of companies will give you a discount for.

For those who are single, the difference in average prices between these two carriers is not very significant, with Mercury rates coming in at around 4% less than Central Mutual's. But for married policyholders, the advantage is clear - Mercury offers the lowest average premiums.

Central Mutual or Mercury: Average Rates by Gender

You may not know, but men generally pay more for car insurance than women do. That's because men are more likely to get tickets and get into accidents, which increases the chances of filing a claim with insurance.

Generally, women see prices about 4% per month less with Central Mutual, but with Mercury, the difference is closer to 5% a month.

When it comes to the most affordable rates for each gender, Mercury comes out on top for both men and women, with average premiums 13% less for men and 14% cheaper for women.

Central Mutual 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.

For most people, insurance can be pretty complicated. Everyone needs car insurance, but there are so many different coverages and limits that it can be hard to find the right policy for you.

The two most common policies end up falling into two different types of coverage -- liability coverage (which provides property damage and bodily injury coverage for other drivers and their passengers if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside what you get with a liability policy).

When it comes to state minimum limits for liability insurance, Central Mutual has the edge, while Mercury offers the cheapest average prices for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $10 with Central Mutual Insurance, while full coverage comes out to be around $100 more affordable with Mercury Insurance.

Is Central Mutual or Mercury Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their auto insurance. But that's not to say you can't save money if you don't have the best driving record, either.

You'll probably end up paying more with speeding tickets and at-fault collisions on your record, but which of these two companies offers the lowest rates to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers who use Central Mutual for their car insurance can normally expect their monthly bill to go up about 26% after getting a speeding ticket. Mercury policyholders can expect a less drastic increase of around 19%.

Even so, Mercury has less expensive prices for drivers in both categories, offering premiums that are $5 and $32 cheaper, respectively, compared to Central Mutual Insurance.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their auto insurance through Central Mutual can expect to see about an $69 -- or around 22% -- rise in their insurance prices. Drivers who use Mercury for their car insurance will see a monthly bill about $109 (or 32%) more expensive after reporting an accident to their auto insurance carrier.

At the end of the day, the more affordable rates come from Central Mutual, with average premiums coming in at $311 compared to Mercury Insurance's $346.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly insurance bill -- usually a lot more than a collision or ticket. Central Mutual drivers usually see a 50% increase in their car insurance rates after a DUI charge, while Mercury will normally raise premiums by around 22%.

How does Credit Score Impact Central Mutual and Mercury Rates?

You may not realized it, but your credit score can be used as one of the variables to calculate your monthly auto insurance prices. This isn't true for everyone (Massachusetts, for example, has banned the use of credit score as a car insurance factor) but it might come into play for a lot of policyholders.

Insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, drivers with bad credit will often be forced to pay more.

Looking at Central Mutual and Mercury specifically, which carrier has the most affordable rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Central Mutual 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 big impact on your monthly premiums? Generally, those who drive fewer miles will end up with less expensive prices since there's less of a chance of causing an accident and filing 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 rates for Central Mutual, with policyholders who drive the least paying about $10 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Mercury is the cheaper company.

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

Where you park your vehicle can have a substantial impact on your monthly car insurance bill. Typically, those who live in rural areas will pay less than drivers in urban areas because of the small number of cars that are on the roads where they live.

When comparing these two companies side-by-side, Mercury generally comes out as the more affordable option for drivers in rural and urban areas, while Central Mutual wins in suburban areas.

For policyholders in urban ZIP codes, Mercury Insurance's average premiums are around $128 less than Central Mutual Insurance. People who live in suburban areas pay about $12 less with Central Mutual compared to Mercury. Those in rural areas can expect to save around $19 with Mercury compared to Central Mutual.

Central Mutual vs. Mercury Discounts

You want to save as much money as you can, right? The best way to do that is by utilizing as many auto insurance discounts as possible.

But with what seems like a million different discounts out there, it can be hard 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 looked at all of the different discounts Central Mutual and Mercury offer their customers so that you can see which one can save you the most money each month.

Mercury blows Central Mutual away when it comes to the sheer amount of discounts available, offering 12 more discounts than Central Mutual.

There are a couple discounts both carriers offer, but Mercury also offers discounts for advance quote, continuous insurance, COVID-19 relief, and more.

On the other hand, Central Mutual has a few proprietary discounts of their own for things like book transfer policy discounts, driver training discounts, renewal discounts, and more.

Final Thoughts: Is Central Mutual or Mercury Best for You?

So, you've seen how different factors can affect your insurance prices. We've broken down the different discounts each company offers, too. That's all well and good, but when it comes down to it, is Central Mutual or Mercury the best company for you, your vehicle, and your wallet?

Mercury might be best for you if....

• Your driving record includes a DUI charge.
• You have below-average credit.
• You don't spend much time in your car.

Central Mutual might be best for you if...

• You're looking for the best premiums on liability only coverage.
• You live in an suburban area.
• You want to save money while purchasing car insurance for a teenager.

Hopefully, this guide has ben a valuable resource as you compare Central Mutual 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 best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several companies, not just Central Mutual and Mercury. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best insurance carriers in your area, all in just a few minutes.

Central Mutual vs. Mercury FAQs

Is Central Mutual or Mercury cheaper?

Mercury is the less expensive of the two companies when looking at national average prices, with policies averaging $295 per month with Mercury and $340 for Central Mutual. However, that doesn't mean Mercury will be the cheapest carrier for each policyholder, since there are a range of different variables that come into play when it comes to your car insurance payment.

Who is better, Central Mutual or Mercury?

Unfortunately, the only answer we can give you is "it depends.". One company is not necessarily "better" for everyone -- it all depends on what your unique auto insurance profile looks like. For example, Mercury is cheaper for drivers who have less-than-stellar credit scores, while Central Mutual offers less expensive rates for drivers with an at-fault collision on their record.

Why do Central Mutual and Mercury offer me different rates?

Car insurance carriers use many different factors when determining the prices they charge. Things like gender, where you live, age, your driving record, and sometimes even things like your credit score can all come into play. Both Central Mutual 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 companies.

How do I know if Central Mutual 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 multiple carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your information once and you'll get quotes from dozens of your local top insurance companies for free. With those, you can guarantee you're getting the lowest rate. And maybe you'll find that the best carrier for you isn't Central Mutual or Mercury at all, but another you hadn't even thought of!

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.