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

Quick Facts

• Looking at the national averages for car insurance, Nationwide offers significantly more affordable rates than Mercury
• Mercury may help you save more money -- they offer more discounts than Nationwide
• Nationwide tends to be a much less expensive option for policyholders who live in rural neighborhoods

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

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

You might have narrowed your search down to Mercury or Nationwide, but which company will save you the most?

As you can see, Mercury has average rates that are around 40% a month more expensive than those from Nationwide when looking at the national average rates for auto insurance.

But that doesn't necessarily mean Nationwide will be the cheaper option for every driver. Insurance carriers use a ton of complex algorithms to determine prices, so depending on how good your credit score is or how clean your driving record is (among a whole bunch of other factors), you could see wildly different rates from the ones above.

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

Mercury vs. Nationwide: Average Car Insurance Rates by State

Mercury and Nationwide compete against each other in six states, with Mercury offering less expensive prices to the average driver in all of them. California has the most noticable difference, where Mercury rates are $94 more affordable than auto insurance prices at Nationwide.

But there's more to car insurance than just the state you live in. As we mentioned above, there's a lot of things that go into how auto insurance companies calculate your premiums. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance rates of any group out there on the road. The reason is that 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 Nationwide for their car insurance pay almost 50% less than those who use Mercury.

That being said, both carriers will reduce premiums once you turn 25. For example, average rates for Mercury policyholders lower about $500 and Nationwide's prices drop nearly $250 over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Mercury and Nationwide specifically, which carrier is best for retired drivers? Nationwide gets the edge here, with average prices coming in at around $125 per month compared to Mercury's $219.

Which is the Best Company for Married Drivers?

Those who are single tend to get offered slightly more expensive car insurance premiums than married drivers. This usually boils down to married policyholders having multiple vehicles on their policy -- something lots of insurance companies will reward with discounts.

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

Mercury or Nationwide: Average Rates by Gender

Men are statistically more likely than women to get into accidents and file an insurance claim, which means they'll typically end up paying more for auto insurance than women.

Generally, men see prices around 5% per month higher with Mercury, and about 7% with Nationwide.

Looking at the data for each company specifically, Nationwide comes out as the lowest option for both genders. On average, male drivers save about $126 a month and women save around $124 with Nationwide compared to the average Mercury policyholder.

Mercury vs. Nationwide: 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, car insurance can be pretty complicated. There are many 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.

The two most common policies that drivers look at fall into two categories -- liability coverage (which provides property damage and bodily injury coverage for other drivers if you cause an accident) and full coverage (which generally refers to having collision and comprehensive coverages in addition to liability).

Looking specifically at state minimum liability limits, Nationwide has the significant edge, with average monthly premiums coming in at $112. If you want a full coverage policy with the same state minimum limits, Nationwide again has the edge, with policies averaging about $229 per month to Mercury's $406.

Is Mercury or Nationwide 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 at-fault collisions and speeding tickets on your record, but which of these two carriers offers the cheapest premiums to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Mercury for their auto insurance can usually expect their monthly bill to go up around 19% after getting a speeding ticket. Nationwide policyholders can expect a less drastic increase of about 16%.

However, Nationwide is normally the cheaper option for both drivers who have a recent ticket and those with clean records, offering prices that are 47% and 49% less expensive, respectively, compared to Mercury Insurance.

Which Company is Best for Drivers After an Accident?

Mercury drivers who get in a collision can expect to see their rates rise by over $100, while those who have insurance through Nationwide will see around a $55 increase.

At the end of the day, drivers who use Nationwide end up with the cheaper prices after an accident, with average premiums coming in at $178 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 speeding ticket or even an accident. Nationwide drivers usually see a 46% climb in their car insurance rates after a DUI charge, while Mercury will typically raise prices by about 22%.

How does Credit Score Impact Mercury and Nationwide Rates?

You may not have known, but your credit score can come into play when companies determine your monthly bill. Certain states and carriers do not allow for credit score to be used as an insurance factor, but it will come into play for several policyholders.

Insurance companies 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.

So, which carrier offers the best premiums for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Mercury or Nationwide 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 car insurance bill. Generally, the more milage you put on your car each year, the more you can expect to pay for coverage.

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 Nationwide, with policyholders who drive the least paying around $1 less every month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Nationwide is the more affordable company.

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

Where you park your vehicle can have a considerable impact on your monthly auto insurance payment. Usually, those who live in rural areas will pay less than drivers in urban areas since there are a lot fewer cars on the roads where they live.

Nationwide boasts the lowest average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For policyholders in urban ZIP codes, Nationwide's average rates are about $202 less than Mercury Insurance. People who live in suburban areas pay around $116 less with Nationwide compared to Mercury. Those in rural areas can expect to save about $58 with Nationwide compared to Mercury.

Mercury vs. Nationwide 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 taking advantage of as many car insurance discounts as possible.

But where do you even start? With what seems like a million different discounts out there, it may be difficult to find all the ones you're eligible for.

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

Looking at the total number of discounts, Mercury has the advantage when it comes to total number of discounts. Nationwide offers a grand total of 22 discounts, while Mercury has 27.

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

On the other hand, Nationwide has a few proprietary discounts of their own for things like agency transfer discounts, driver training discounts, EFT discounts, and more.

Final Thoughts: Is Mercury or Nationwide Best for You?

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

Nationwide might be best for you if....

• Your driving record includes a DUI charge.
• You're looking for the best prices on liability only coverage.
• You are purchasing your auto insurance with a spouse.

Mercury might be best for you if...

• You're looking for discounts -- Mercury has the most.

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

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

Mercury vs. Nationwide FAQs

Is Mercury or Nationwide cheaper?

Nationwide is the cheaper of the two carriers when looking at national average rates, with policies averaging $170 a month with Nationwide and $295 for Mercury. Even so, that doesn't mean Nationwide will be the cheapest carrier for everyone, since there are lots of different variables (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Mercury or Nationwide?

Sadly, the real answer is "it depends.". One company is not necessarily "better" for everyone -- it all depends on the makeup of your unique car insurance profile.

Why do Mercury and Nationwide offer me different rates?

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

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

The only way to find the auto insurance company that's right for you is by getting quotes from multiple 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 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 rate. And maybe you'll find that the best carrier for you isn't Mercury or Nationwide 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.