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

Quick Facts

• Based on national averages for auto insurance, Progressive offers significantly more affordable rates than Mercury
• Progressive offers less expensive average premiums for drivers who have a speeding ticket on their driving record
• Progressive has cheaper rates for policyholders who haven't received any speeding tickets or been in a collision in the last few years

Mercury or Progressive: 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 huge savings, you're probably wondering exactly how much you might be able to save.

You might be considering Mercury or Progressive as potential options, but which company has less expensive premiums for car insurance?

Looking at the national average rates for both carriers, Mercury is quite a bit more expensive than Progressive, with prices averaging $295 a month compared to just $180 with Progressive.

But that doesn't necessarily mean Progressive will be the more affordable option for every driver. Auto insurance companies vary their rates depending on things like how good your credit score is, how clean your driving record is, how old you are, where you live, and a variety of other factors, so prices will differ quite a bit from person to person.

Luckily, we've broken down average premiums from both Mercury and Progressive by several different rate factors, so read on to find out which company is the best for you.

Mercury vs. Progressive: Average Car Insurance Rates by State

Mercury and Progressive compete against each other in eight states, with Mercury offering cheaper prices to the average driver in all of them. New York has the most noticable difference, where Progressive rates are $471 less expensive than insurance premiums at Mercury.

That being said, there are plenty of other factors that go into your car insurance payment than just where you call home. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance prices of any other group of drivers. That's 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 premiums, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Progressive for their auto insurance pay almost 40% less than those who use Mercury.

That being said, both carriers will offer you dramatically lower rates by the time you turn 25. For example, average premiums for Mercury policyholders reduce around $500 and Progressive's rates decrease about $300 over that time.

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 rates for car insurance.

So, which carrier offers the best prices to retired drivers? Progressive gets the edge, with premiums for drivers 65 and older $88 cheaper than the national average for Mercury.

Which is the Best Company for Married Drivers?

Did you know that auto insurance rates are usually more affordable for married drivers than they are for single policyholders? This usually boils down to married couples having multiple vehicles on their policy -- something lots of insurance companies will reward with discounts.

For those who are single, the difference in average premiums between these two carriers is significant, with Progressive prices coming in at a third less than Mercury's. The advantage for married policyholders with Progressive is also obvious, where drivers save nearly $85 per month.

Mercury or Progressive: Average Rates by Gender

Because women are less likely to get speeding tickets and get into accidents, they run a lower risk of filing a claim with insurance. So, insurance companies will tend to charge women less than men.

On average, women see rates around 5% a month less with Mercury, but with Progressive, the difference is closer to 3% per month.

Looking at overall affordability, Progressive comes out on top for both men and women. On average, male drivers save about $119 a month and women save about $110 with Progressive compared to the average Mercury policyholder.

Mercury vs. Progressive: 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 a range of different coverages that account for multiple different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause an accident.

However, most policies that drivers look at fall into two categories -- liability coverage (that covers bodily injury and property damage for other drivers and their passengers if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside liability coverage).

Looking specifically at state minimum limits for liability insurance, Progressive has the significant edge, with average monthly premiums coming in at $111. If you want a full coverage policy with the same state minimum limits, Progressive again has the edge, with policies averaging around $250 per month to Mercury's $406.

Is Mercury or Progressive 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.

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 lowest prices to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Mercury for their auto insurance can generally expect their monthly bill to go up about 19% after getting a speeding ticket. Progressive policyholders can expect a less drastic increase of around 17%.

Even so, Progressive is typically the cheaper option for both drivers who have clean records and those with a recent ticket. With Progressive, drivers with a clean record can save about $88 a month and drivers with a speeding ticket can save around $114 per month.

Which Company is Best for Drivers After an Accident?

Mercury drivers who get in an accident can expect to see their premiums climb by over $100, while those who have insurance through Progressive will see about a $65 increase.

At the end of the day, the more affordable prices come from Progressive, with average rates coming in at $214 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 car insurance bill -- normally a lot more than a collision or ticket. On average, Mercury will climb your prices around 22% after a DUI, while Progressive's average premiums increase by more than 15%.

How does Credit Score Impact Mercury and Progressive Rates?

You may not realized it, but your credit score can be used as one of the variables to determine your monthly insurance rates. Certain states and companies do not allow for credit score to be used as a car insurance factor, but it does affect many policyholders out there.

Car insurance carriers argue that those with good credit scores are more likely to pay their bills on time every month, which decreases the risk involved on their end, while the opposite is true for those with bad credit.

Looking specifically at Progressive and Mercury, which one 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 Mercury or Progressive Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a considerable impact on your monthly rates. That's because the more milage you put on your vehicle, the more likely you are to be in an accident and file an insurance claim.

In this case, neither Mercury or Progressive report increasing premiums for drivers with higher annual mileage figures. Still, Progressive comes out as the cheapest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car annually, with average rates of $180 a month for both.

Mercury or Progressive: 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 pretty big impact as well. Typically, 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.

Progressive boasts the cheapest average rates for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save about $55 with Progressive compared to Mercury. People who live in suburban areas pay around $96 less with Progressive compared to Mercury. For drivers in urban ZIP codes, Progressive's average prices are about $194 less than Mercury Insurance.

Mercury vs. Progressive Discounts

No matter 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 you can. That's where car insurance discounts comes into play.

The difficult 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 Mercury and Progressive offer their customers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Progressive blows Mercury away when it comes to the sheer amount of discounts available, offering seven more discounts than Mercury.

A couple of those are overlapping for things like advance quote discounts, continuous insurance discounts, COVID-19 relief discount, and DRL discounts. Progressive also offers discounts for advanced safety feature, agency transfer, education, and more.

On the other hand, Mercury has a few proprietary discounts of their own for things like electric vehicle discounts, employee discounts, good payer discounts, and more.

Final Thoughts: Is Mercury or Progressive Best for You?

So, you've seen how different factors can affect your auto insurance premiums. We've broken down the different discounts each company offers, too. 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 needs?

Progressive might be best for you if....

• You have a speeding ticket on your driving record.
• Your home is in a busy urban area.
• You want to save money while purchasing insurance for a teenager.

Mercury might be best for you if...

• You have a more unique driver profile than those we mentioned above.

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

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on auto insurance -- comparing quotes from a handful of companies, not just Mercury and Progressive. 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 carriers in your area, all in just a few minutes.

Mercury vs. Progressive FAQs

Is Mercury or Progressive cheaper?

Progressive is the less expensive of the two companies when looking at national average prices, with policies averaging $180 per month with Progressive and $295 for Mercury. But that doesn't mean Progressive will be the lowest company for each driver, since there are many different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Mercury or Progressive?

Unfortunately, the only answer we can give you is "it depends.". Neither carrier is "better" for everyone -- it all depends on the makeup of your unique auto insurance profile.

Why do Mercury and Progressive offer me different rates?

Insurance carriers use quite a few different factors when determining the rates they charge. Variables like where your home is, gender, where you call home, age, and sometimes even things like your credit score can all be used. Both Mercury and Progressive calculate premiums using different formulas, so it's likely they'll offer different prices. The best way to determine which company is the cheapest for you is by comparing personalized quotes from a variety of different companies.

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

The only way to find the car insurance carrier that's right for you is by getting quotes from several carriers 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 ZIP code and you'll get quotes from dozens of your local top insurance companies for free. With those, you can guarantee you're getting the lowest premium. And maybe you'll find that the best company for you isn't Mercury or Progressive 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.