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

Quick Facts

• Based on national averages for auto insurance, Njm offers significantly more affordable premiums than Mercury
• Mercury may help you save more money -- they offer more discounts than NJM Insurance Group
• Njm offers more affordable prices for policyholders whose driving record contains an at-fault collision

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

So, you're considering switching to a new insurance policy. With so many ads from all sorts of companies offering hefty savings, you're probably wondering exactly how much you might be able to save.

You might have narrowed it down to Mercury or Njm as potential options, but which carrier will offer you cheaper premiums?

Looking at nationwide averages, Mercury has average rates that are around 55% a month more expensive than those from Njm.

However, Njm may not be the most affordable or best option for every single driver out there. Car insurance carriers use a variety of complex algorithms to determine rates, so depending on how old you are or where you live (among many other factors), you could see wildly different prices from the ones above.

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

Mercury vs. Njm: Average Car Insurance Rates by State

Mercury and Njm only compete against each other in New Jersey, where Njm offers the cheaper average prices. Njm drivers tend to pay about $242 per month less on average compared to drivers who use Mercury for their auto insurance.

That being said, there's a lot more that goes into your insurance payment than just where you call home. Read on to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for car insurance than any other group of drivers. The reason is that teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

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 Njm for their auto insurance pay over 65% less than those who use Mercury. It's worth noting that Mercury offers insurance in 11 different states compared to Njm's one, which can skew the average prices a bit, but the difference here is still considerable.

Even so, with both companies, you'll see your premiums lower significantly once you turn 25. For example, average rates for Mercury policyholders drop about $500 and Njm's premiums decrease almost $150 over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the lowest 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 insurance.

So, which company offers the best premiums to retired drivers? Njm gets the edge here, with average prices coming in at around $96 a month compared to Mercury's $219.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are normally less expensive for married drivers than they are for single policyholders? That's usually because married policyholders tend to own and insure more than one vehicle, which can often earn you a discount.

For those who are single, the difference in average prices between these two carriers is significant, with Njm rates coming in at about half of Mercury's. The advantage for married couples with Njm is also obvious, where drivers save around $100 a month.

Mercury or Njm: Average Rates by Gender

Because women are less likely to get tickets and get into collisions, they have a decreased chance of filing a claim with insurance. So, insurance companies will often charge women less than men.

With Mercury, men typically pay about 5% more per month than women., and around 1% more with Njm.

Looking at the data for each carrier specifically, Njm comes out as the cheapest option for both genders. On average, male drivers save about $165 a month and women save about $152 with Njm compared to the average Mercury policyholder.

Mercury vs. Njm: 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 terms and limits that it can be hard to find the right policy for you.

But most 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 normally refers to having collision and comprehensive coverages alongside what you get with a liability policy).

Looking specifically at state minimum liability limits, Njm has the significant edge, with average monthly premiums coming in at $92. If you want a full coverage policy with the same state minimum limits, Njm again has the edge, with policies averaging around $181 per month to Mercury's $406.

Is Mercury or Njm Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto insurance carriers offering great prices 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 companies offers the lowest premiums to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

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

That being said, Njm has cheaper rates for drivers in both categories -- their rates are around 49% less expensive for drivers with clean records and 49% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their auto insurance through Mercury can expect to see about an $109 -- or around 32% -- rise in their car insurance premiums. Drivers who use Njm for their insurance will see a monthly bill about $0 (or 0%) more expensive after reporting an accident to their car insurance company.

At the end of the day, drivers who use Njm end up with the cheaper prices after an accident, with average rates coming in at $122 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, Mercury increases average prices by more than $65 a month -- that's more than a 20% increase.

Njm has the overall most affordable rates for drivers with a DUI on their records at $151 per month, but it's worth noting that Mercury's average rates come from 11 states compared to just one for Njm, so the data may be skewed slightly.

How does Credit Score Impact Mercury and Njm Rates?

You may not have known, but your credit score can come into play when carriers calculate your monthly bill. This isn't true for everyone (for example, Michigan and Hawaii are two states that ban the practice entirely), but it does affect many drivers out there.

The reasoning insurance companies use is that policyholders with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper prices, while those with poor credit will generally be forced to pay more.

Looking at Mercury and Njm specifically, which one has the lowest premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Njm will usually reward you the most. For policyholders with "excellent" credit scores, Njm comes in over 55.16 cheaper. Drivers with "good" credit scores normally save around 56% with Njm compared to average rates from Mercury.

Which Company is Best for Drivers with Bad Credit?

Njm typically offers lower prices than Mercury when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about 56% per month less with Njm compared to Mercury, and those with "poor" scores generally save an average of around 52% monthly.

Is Mercury or Njm 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 premiums. Typically, those who drive less will end up with less expensive rates 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 premiums for Njm, with drivers who put 6,000 miles on their car every year paying about $11 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Njm is the more affordable carrier.

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

Where you live can have a large impact on your monthly auto insurance cost. Usually, those who live in rural areas will pay less than drivers in urban areas since there are a lot fewer vehicles on the road where they live, which decreases the chances of an accident.

When comparing these two carriers side-by-side, Njm generally comes out as the most affordable option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to save around 44% with Njm compared to Mercury. People who live in suburban areas pay about 52% less with Njm compared to Mercury. For policyholders in urban ZIP codes, NJM Insurance Group's average premiums are around 60% less than Mercury Insurance.

Mercury vs. Njm Discounts

No matter why you might be in the market for a new car 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 insurance discounts as possible.

But with what seems like a million different discounts out there, it can be difficult 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 Mercury and Njm offer their customers 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 Njm out of the park when it comes to the sheer number of discounts available, offering 13 more discounts than Njm.

Both companies offer many of the same discounts -- like discounts for being a defensive driver, employee discounts, and paid in full discounts -- but Mercury also offers discounts for advance quote, continuous insurance, COVID-19 relief, and more.

On the other hand, Njm has a few proprietary discounts of their own for things like driver training discounts, EFT discounts, full coverage discounts, and more.

Final Thoughts: Is Mercury or Njm Best for You?

So, you've seen how different variables can affect your auto insurance rates. We've shown you all the discounts each company offers, too. That's all well and good, but when it comes down to it, which carrier is the best company for you and your specific needs?

Njm might be best for you if....

• You will be the only person on the car insurance policy.
• You have less-than-stellar credit.
• You live in a rural area.

Mercury might be best for you if...

• You're thinking about moving to another state -- NJM Insurance Group only offers policies to New Jersey residents.
• You want to save extra money with discounts.

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

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

Mercury vs. Njm FAQs

Is Mercury or Njm cheaper?

Njm is the cheaper of the two carriers when looking at national average prices, with policies averaging $137 a month with Njm and $295 for Mercury. However, that doesn't mean Njm will be the lowest company for every driver, since there are a bunch of different factors that are considered when it comes to your car insurance bill.

Who is better, Mercury or Njm?

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

Why do Mercury and Njm offer me different rates?

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

How do I know if Mercury or Njm 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, Compare.com makes 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 best price. And maybe you'll find that the best company for you isn't Mercury or Njm 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.