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

Quick Facts

• Looking at the national averages for auto insurance, Key offers slightly less expensive rates than Mercury
• Key tends to be a much more affordable option for residents of suburban areas
• Mercury has cheaper premiums for policyholders who live in rural neighborhoods

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

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

You've maybe even narrowed it down to Key or Mercury as potential options, but between the two, which carrier will save you the most?

Looking at the national average rates for both carriers, Mercury is around $10 more a month than Key.

That being said, that doesn't necessarily mean Key will be the less expensive option for every single driver. After all, car insurance companies can offer drastically different rates to every driver depending on rating factors like your driving record, your age, your credit score, or even where you call home (among other things). So, at the end of the day, rates from each carrier will differ quite a bit from person to person.

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

Key vs. Mercury: Average Car Insurance Rates by State

Key and Mercury only compete against each other in Nevada, where Mercury offers the cheaper average prices. Mercury drivers tend to pay about $45 per month less on average compared to drivers who use Key for their insurance.

There are plenty of other factors that go into your car insurance cost than just where you call home. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for auto insurance compared to older drivers. That's typically because teen 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. As you can see above, teens who use Key save 7% a month compared to those who use Mercury.

Even so, both carriers will decrease premiums by the time drivers turn 25. For example, average prices for Key policyholders lower about $450 and Mercury's rates reduce almost $500 over that time.

Which is the Best Company for Retired Drivers?

When it comes to car insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest premiums out there.

But who has the best prices for retired drivers between Key and Mercury? In this case, Mercury has the slight edge, with premiums around $4 per month less than Key. However, the difference is only about 5%, so other variables will likely come into play when determining which carrier has the most affordable rates for you.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance prices tend to be cheaper for married drivers than they are for single drivers. That's because policies for married couples generally cover more than one vehicle, which lots of companies will give you a discount for.

If you're in the market for insurance, Key tends to have the cheapest average premiums regardless of relationship status, with prices around 4% more affordable for those who are single and about 2% cheaper for married policyholders.

Key or Mercury: Average Rates by Gender

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

On average, men see rates over 15% a month higher with Key, but with Mercury, the difference is closer to 5% per month.

Looking at overall affordability, Key is the most affordable company for women. Rates with Key are $30 cheaper for women, while with Mercury, men can save around $30.

Key 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, auto insurance isn't the easiest topic to understand. Everyone needs insurance, but there are so many different limits and coverages 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 covers the other party's property damage and injuries if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to liability).

When it comes to state minimum liability limits, Mercury has the edge, while Key offers the lowest average prices for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $10 with Mercury Insurance, while full coverage comes out to be about $35 more affordable with Key Insurance Company.

Is Key or Mercury Better for Drivers with Spotty Records?

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

Collisions and speeding tickets will most likely raise your premiums, but is Key or Mercury less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers with Key auto insurance policies don't report seeing their rates increase after getting a ticket, but Mercury policyholders can expect to see their monthly bill increase by around $55.

But Key has cheaper prices for drivers in both categories, offering rates that are 11% and 29% more affordable, respectively, compared to Mercury Insurance.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through Key can expect to see about an $25 -- or around 11% -- rise in their auto 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 insurance carrier.

At the end of the day, drivers who use Key end up with the cheaper prices after an accident, with average premiums coming in at $235 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 -- normally a lot more than a collision or speeding ticket. Key drivers usually see a 57% climb in their car insurance prices after a DUI charge, while Mercury will generally increase rates by around 22%.

How does Credit Score Impact Key and Mercury Rates?

Did you know many insurance carriers take your credit score into account when determining premiums? Certain states and companies do not allow for credit score to be used as a car insurance factor, but it might come into play for many policyholders.

Auto 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 specifically at Key and Mercury, which company has the most affordable prices 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 Key or Mercury Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly rates. Typically, 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.

In this case, neither Key or Mercury report increasing prices for drivers with higher annual mileage figures. Key comes out as the cheapest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle annually, with average premiums of $285 a month for both.

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

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

When comparing these two companies side-by-side, Key normally comes out as the cheaper option for drivers in urban and suburban areas, while Mercury wins in rural areas.

In urban areas, Key's average rates are about $386 while Mercury offers premiums around $401. Drivers in suburban ZIP codes pay a monthly rate of about $234 with Key compared to $275 with Mercury. If you live in a rural area, you can expect to pay around $209 monthly with Mercury and $234 with Key.

Key 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 insurance discounts as possible.

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

Luckily, we did the hard work for you and compared all of the different discounts offered by Key and Mercury so that you can see which one can save you the most money each month.

Mercury knocks Key out of the park when it comes to the sheer number of discounts available, offering 23 more discounts than Key.

There are a couple discounts both carriers offer, but Mercury also offers discounts for ABS, advance quote, anti-theft, and more.

Key's discounts come through just a few categories, including Defensive Driver, Good Driving, Multi-Car, and more.

Final Thoughts: Is Key or Mercury Best for You?

You've seen the role certain factors 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 carrier is the right carrier for you and your specific driver profile?

Key might be best for you if....

• You've received a ticket for speeding recently and don't want to see your rates increase.
• Your neighborhood is in a city.
• You've started working from home and don't have much of a commute.

Mercury might be best for you if...

• Your driving record includes a DUI charge.
• You already have a great credit score.
• You're of retirement age and want to take advantage of lower premiums.

Hopefully, this guide has ben a valuable resource as you compare Key and Mercury. We also hope we've given you the information you need to make the best decision when it comes to 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 multiple carriers, not just Key and Mercury. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best insurance companies in your area, all in just a few minutes.

Key vs. Mercury FAQs

Is Key or Mercury cheaper?

Key is the more affordable of the two carriers when looking at national average prices, with policies averaging $285 per month with Key and $295 for Mercury. That being said, that doesn't mean Key will be the most affordable company for everyone, since there are many different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Key or Mercury?

Sadly, the real answer is "it depends.". One carrier is not "better" for everyone -- it all depends on the makeup of your unique car insurance profile. For example, Mercury is less expensive for drivers who have already retired, while Key offers more affordable rates for single policyholders.

Why do Key and Mercury offer me different rates?

Auto insurance companies use quite a few different factors when calculating the premiums they charge. Variables like gender, where you park your vehicle, your driving record, age, and sometimes even things like your credit score can all be taken into consideration. Both Key and Mercury calculate prices differently, so it's likely they'll offer different rates. The best way to determine which company is the cheapest for you is by comparing personalized quotes from several different carriers.

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

The only way to find the insurance carrier 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 make it easy for you to do just that. Just enter your area information and you'll get quotes from dozens of your local top car insurance carriers for free. That way, you can guarantee you're getting the lowest price. And maybe you'll find that the best company for you isn't Key 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.