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

Quick Facts

• In general, Erie offers significantly less expensive rates than Mercury
• Erie offers more affordable premiums for couples purchasing auto insurance together
• Mercury offers more discounts than Erie Insurance

Erie vs. Mercury: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering big discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed it down to Erie or Mercury, but between the two, which one will offer you cheaper prices?

As you can see, Mercury is quite a bit more expensive than Erie, with premiums averaging $295 per month compared to just $153 with Erie when looking at the national average rates for car insurance.

But that doesn't necessarily mean Erie will be the more affordable option for every driver. After all, auto insurance companies can offer drastically different rates to each driver depending on rating factors like where you call home, your credit score, your age, or even your driving record (among other things), so rates will vary quite a bit from person to person.

So, if you want to find out which of Erie or Mercury is really the best for you, keep reading to see average premiums for each carrier broken down by a range of different rate factors.

Erie or Mercury: Average Car Insurance Rates by State

Erie and Mercury only compete against each other in three states, with Erie offering less expensive prices to the average driver in all of them. New York has the most noticable difference, where Erie rates are over 70% more affordable than insurance prices at Mercury.

There are plenty of other factors that go into your car insurance cost than just where you live. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance premiums of any other group of drivers. The reason is that young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Erie for their auto insurance pay more than $400 less than those who use Mercury.

However, both carriers will drop premiums once you turn 25. Mercury offers the steepest decrease, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Erie still has the cheapest rates at $142 monthly.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the most affordable car insurance prices you'll ever see. You've been on the road for years, and all that experience pays off when it comes to your monthly rates for auto insurance.

So, which company offers the best prices to retired drivers? Erie gets the edge, with premiums for drivers 65 and older $103 cheaper than the national average for Mercury.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are usually more expensive for single policyholders than they are for married policyholders? This usually boils down to married couples having more than one car on their policy -- something a lot of insurance companies will reward with discounts.

When it comes to relationship status, Erie is the clear winner for those who are single, with prices about $183 a month more affordable than Mercury, on average. The advantage is also clear for married drivers - Erie offers the lowest average premiums.

Erie vs. Mercury: Average Rates by Gender

You may not know, but car insurance is normally more expensive for men than for women. This is because men are more likely to get speeding tickets and get into collisions, which increases the chances of an insurance claim.

Women generally pay over $10 per month less than men with Erie, while with Mercury, the difference is closer to $14 a month.

Looking at overall affordability, Erie comes out on top for both men and women. On average, male drivers save about $144 per month and women save around $141 with Erie compared to the average Mercury policyholder.

Erie or 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.

It's no secret that insurance can be a complicated subject for most people. There are many different coverages that account for a bunch of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

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

If you're looking for state minimum liability limits, Erie typically offers significantly less expensive rates of $91 compared to Mercury's $184. When it comes to full coverage policies with similar limits, Erie again has the edge, with policies about $200 a month cheaper than Mercury, on average.

Is Erie or Mercury Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their auto insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that tickets and at-fault accidents lead to higher premiums, but which carrier -- Erie or Mercury -- has the cheapest prices for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Erie policyholders can expect their rates to go up an average of $18 per month if they get a ticket, while Mercury generally raises prices around $57 a month, on average.

Even so, Erie is usually the less expensive option for drivers both with clean records and with a speeding ticket, offering premiums that are $118 and $157 more affordable, respectively, compared to Mercury Insurance.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through Erie can expect to see about an $38 -- or around 24% -- increase in their insurance prices. Drivers who use Mercury for their auto insurance will see a monthly bill about $109 (or 32%) more expensive after reporting an accident to their car insurance company.

Overall, the cheaper rates come from Erie, with monthly premiums averaging $157 compared to Mercury Insurance's $346.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple ticket or even a collision. For example, Erie increases average prices by just under $80 per month -- that's just under a 40% increase.

How does Credit Score Impact Erie and Mercury Rates?

Did you know that many auto insurance carriers take your credit score into account when calculating rates? Certain states and companies do not allow for credit score to be used as a rating factor, but it will come into play for many drivers.

The reasoning insurance carriers use is that policyholders 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 at Erie and Mercury specifically, which carrier 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 Erie 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 sizable impact on your monthly car insurance payment? Generally, those who drive fewer miles will end up with more affordable premiums since there's less of a chance of getting into an accident and causing 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 Erie, with drivers who put 6,000 miles on their vehicle annually paying around $11 less every month compared to those who drive 12,000 miles each year. Still, Erie is the cheaper option for drivers in both categories.

Erie vs. 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 insurance, but the type of area you live in can have a considerable impact as well. Typically, those who live in rural areas will pay less than policyholders in urban areas because there are a lot fewer cars on the roads in those areas.

Erie boasts the lowest average premiums for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Erie offers prices about $194 per month compared to Mercury's $401. People who live in suburban ZIP codes can expect to pay around $145 a month for Erie and $275 for Mercury. Lastly, those in rural areas tend to get the most affordable rates from both companies, with average monthly prices coming in at $115 and $209 for Erie and Mercury respectively.

Erie vs. Mercury Discounts

Regardless of why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as possible. That's where insurance discounts comes into play.

But where do you even start? With what seems like a million different discounts out there, it may be challenging to find all the ones you can take advantage of.

In the section below, we've compared all of the different discounts offered by Erie 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.

Mercury knocks Erie out of the park when it comes to the sheer number of discounts available, offering 27 different discounts to Erie's 27.

Both carriers offer many of the same discounts -- like advance quote discounts, COVID-19 relief discount, discounts for being a defensive driver, and discounts for being a good driver -- but Mercury also offers continuous insurance discounts, e-signature discounts, electric vehicle discounts, and more that Erie does not.

On the flip side, Erie has a couple unique discounts of its own -- discounts for getting driver training, farm discounts, pay plan discounts, and more.

Final Thoughts: Is Erie or Mercury Best for You?

You've seen the role certain factors have on your car insurance and the different discounts companies offer. But, at the end of the day, which carrier is the right company for you, your vehicle, and your wallet?

Erie might be best for you if....

• You have an at-fault accident on your record.
• You drive fewer than 6,000 miles yearly.

Mercury might be best for you if...

• You value the experience that comes with a large national auto insurance company.
• You want to save extra money with discounts.

We hope this guide helps you get a better idea of the difference between Erie 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 car insurance policy is to compare quotes from multiple carriers, not just Erie and Mercury. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of top auto insurance companies in your area, all in just a few minutes.

Erie vs. Mercury FAQs

Is Erie or Mercury cheaper?

Looking just at the national average premiums, Erie is the less expensive of the two carriers, offering average rates of $153 per month compared to $295 for Mercury. However, Erie won't necessarily be the cheapest carrier for every policyholder, since there are multiple different variables (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Erie or Mercury?

Unfortunately, the answer truly is "it depends.". Neither company is "better" for everyone -- it all comes down to what your unique insurance profile looks like.

Why do Erie and Mercury offer me different rates?

Auto insurance companies take a look at several different factors when determining the rates they charge policyholders. Things such as where your home is, where you live, age, gender, and sometimes even things like your credit score can all be taken into consideration. Both Erie and Mercury use different formulas, so each one will most likely offer different premiums. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the car 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, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get free quotes from dozens of the best auto insurance carriers in your area. With those, you can guarantee you're getting the best rate. And who knows, the best carrier for you might not be Erie or Mercury at all!

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.