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

Quick Facts

• Based on national averages for car insurance, Cig offers significantly less expensive premiums than Mercury
• Cig has cheaper prices for policyholders who are looking to purchase insurance with a spouse
• Mercury may help you save more money -- they offer more discounts than CIG Insurance

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

So, you're considering switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering substantial savings. But exactly how much can you save by switching?

You've maybe even narrowed your search down to Cig or Mercury as potential options, but between the two, which one has more affordable premiums for insurance?

Looking at the national average rates for both carriers, Mercury has average rates that are around 60% a month more expensive than those from Cig.

However, that doesn't mean Cig will necessarily be less expensive than Mercury for every driver. Car insurance companies vary their rates depending on things like how clean your driving record is, how good your credit score is, where you live, how old you are, and a ton of other factors. So, at the end of the day, prices from every company will differ quite a bit from person to person.

Wanting to know if Cig or Mercury is really the right carrier for you? Keep on reading to see how average rates can change based on all of the factors we've mentioned above.

Cig vs. Mercury: Average Car Insurance Rates by State

Cig and Mercury only compete against each other in one states, with Mercury offering more affordable premiums to the average driver in all of them. California has the most noticable difference, where Mercury rates are $14 cheaper than auto insurance prices at Cig.

There's a lot more that goes into your insurance cost than just where you live. Continue reading to see how other variables will affect your rates.

Which is the Best Company For Young Drivers?

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

That being said, that doesn't mean that teen drivers have to just accept sky-high car insurance prices. As you can see above, teens who use Cig save almost 65% per month compared to those who use Mercury.

But with both carriers, you'll see your rates drop significantly by the time drivers turn 25. Mercury offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Cig still has the cheapest premiums at $119 monthly.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the most affordable insurance prices you can find. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for car insurance.

So, which company offers the best rates to retired drivers? Cig gets the edge, with premiums for drivers 65 and older $133 more affordable than the national average for Mercury.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly less expensive auto insurance prices than single drivers. This usually boils down to married policyholders having more than one vehicle on their policy -- something quite a few car insurance companies will reward with discounts.

For those who are single, the difference in average rates between these two carriers is significant, with Cig premiums coming in at about a third of Mercury's. The advantage is also clear for married drivers - Cig offers the lowest average rates.

Cig or Mercury: Average Rates by Gender

Because women are less likely to get tickets and get into accidents, they are less likely to file a claim with insurance. So, women usually pay less for insurance than men.

Women typically pay around 3% a month less than men with Cig, and about 5% less with Mercury when compared to their male counterparts.

Looking at overall affordability, Cig comes out as the most affordable option for both genders. On average, male drivers save about $181 per month and women save around $171 with Cig compared to the average Mercury policyholder.

Cig 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 isn't the easiest topic to understand. There are multiple different coverages that account for a bunch of different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

Even so, most policies that drivers look at fall into two categories -- liability coverage (which provides property damage and bodily injury coverage for other drivers and their passengers if you cause an accident) and full coverage (which generally refers to having collision and comprehensive coverages alongside what you get with a liability policy).

Looking specifically at state minimum liability limits, Cig has the significant edge, with average monthly prices coming in at $71. If you want a full coverage policy with the same state minimum limits, Cig again has the edge, with policies averaging about $166 a month to Mercury's $406.

Is Cig or Mercury Better for Drivers with Spotty Records?

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

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

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Cig for their car insurance can normally expect their monthly bill to go up around 21% after getting a speeding ticket. Mercury policyholders can expect a less drastic increase of about 19%.

That being said, Cig is usually the cheaper option for both drivers who have clean records and those with a recent ticket. With CIG Insurance, drivers with a clean record can save around $149 per month and drivers with a speeding ticket can save about $182 a month.

Which Company is Best for Drivers After an Accident?

Both companies will raise premiums pretty significantly if you get into an at-fault collision with Mercury climbing by around 32%. Cig has a less extreme increase, but you can still expect to pay more than 25% more than you were prior to your first accident.

At the end of the day, the more affordable rates come from Cig, with average premiums coming in at $118 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 auto insurance bill -- typically a lot more than a collision or ticket. For example, Cig increases average prices by nearly $70 per month -- that's nearly a 45% increase.

How does Credit Score Impact Cig and Mercury Rates?

In many cases, your credit score can be used as one of the factors to determine your monthly insurance rates. This isn't true for everyone (Hawaii, for example, has banned the use of credit score as an insurance factor) but it does affect a lot of drivers out there.

The reasoning auto insurance carriers use is that policyholders with bad credit will be less likely to pay their bills on time; so usually, they'll be asked to pay more, while those with good credit will be rewarded with cheaper premiums.

Looking specifically at Cig and Mercury, which company has the best prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Cig 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 your monthly car insurance bill? Generally, those who drive less will end up with less expensive premiums 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 prices for Cig, with drivers who put 6,000 miles on their car yearly paying about $12 less each month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Cig is the cheaper carrier.

Cig 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 auto insurance, but the type of area you live in can have a pretty big impact as well. Normally, those who live in urban areas will pay more than policyholders in rural areas since there are a lot more vehicles on the roads where they live.

Cig tends to offer the most affordable rates for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save around 49% with Cig compared to Mercury. People who live in suburban areas pay about 55% less with Cig compared to Mercury. For drivers in urban ZIP codes, CIG Insurance's average premiums are around 68% less than Mercury Insurance.

Cig vs. Mercury Discounts

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

The challenging part is finding all of the discounts you can take advantage of, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and looked at all of the different discounts Cig and Mercury offer their customers so that you can find the carrier that has the most discounts and, therefore, the largest savings.

Overall, Mercury has a slight advantage when it comes to total number of discounts. Cig offers a grand total of 25 discounts, while Mercury has 27.

A couple of those are overlapping for things like advance quote discounts, discounts for being a defensive driver, distant student discounts, and good payer discounts. Mercury also offers discounts for continuous insurance, COVID-19 relief, DRL, and more.

On the other hand, Cig has a few proprietary discounts of their own for things like company car discounts, inside storage discounts, life policy discounts, and more.

Final Thoughts: Is Cig or Mercury Best for You?

You've seen the effect certain variables have on your car insurance and the different discounts companies offer. That's all well and good, but when it comes down to it, which insurance company is the best company for you, your vehicle, and your wallet?

Cig might be best for you if....

• You have a clean record.
• You live in an urban area.
• You drive fewer than 6,000 miles every year.

Mercury might be best for you if...

• You already have plans to move to another state -- undefined is only available to residents.
• You're looking for discounts -- Mercury has the most.

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

At the end of the day, the best way to make sure you're getting the best deal on your car insurance policy is to compare quotes from a handful of carriers, not just Cig and Mercury. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of the top insurance companies in your area, all in just a few minutes.

Cig vs. Mercury FAQs

Is Cig or Mercury cheaper?

Cig is the less expensive of the two carriers when looking at national average prices, with policies averaging $119 a month with Cig and $295 for Mercury. But that doesn't mean Cig will be the lowest carrier for each policyholder, since there are many different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Cig or Mercury?

Unfortunately, the only answer we can give you is "it depends.". Neither company is "better" for everyone -- it all depends on what your unique car insurance profile looks like.

Why do Cig and Mercury offer me different rates?

Insurance companies use many different variables when determining the premiums they charge. Factors such as gender, where you park your car, your driving record, age, and sometimes even things like your credit score can all be taken into consideration. Both Cig and Mercury calculate rates using different formulas, so it's likely they'll offer different prices. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from a variety of different carriers.

How do I know if Cig 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 several 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 information once and you'll get quotes from dozens of your local top car insurance carriers for free. With those, you can guarantee you're getting the lowest premium. And maybe you'll find that the best carrier for you isn't Cig 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.