NJ property owners will pay 5.2 percent less and those in Georgia will pay 5% less.
Mercury Insurance recently announced that it would be dropping the homeowners insurance rates paid in New Jersey and Georgia.
The insurer pointed out that the biggest reductions were for people combining with auto policies.
The insurer announced that in New Jersey, homeowners insurance rates would be falling by an average of 5.2 percent and those in Georgia would drop by an average of 5 percent. That said, deeper reductions will be seen by those with property insurance that has been combined with a Mercury auto policy. In New Jersey, those with combined policies will have an average reduction of 8.2 percent.
The reduction has been effective as of June 25 and applies to new customers. Those with policies renewing will be able to benefit from the reductions as of August 14. In this way, both new and existing customers in New Jersey and Georgia will be able to benefit from the reduced premiums.
Mercury encourages its customers to see the difference in homeowners insurance rates when bundled.
“We’re happy to help put money back in our New Jersey customers’ pockets,” said Sarah Wang, Mercury New Jersey Product Manager. “Mercury Insurance is also focusing on helping coastal Georgia homeowners get the necessary coverage to repair and recover their homes after it’s been damaged by covered perils, such as windstorms.”
Wang also pointed out that the rate reduction is a voluntary one. The insurer wants to use this reduction in customer premiums “to help consumers because we believe affordable insurance should be available for everyone,” said Wang.
Mercury operates in New Jersey through a network of 485 independent insurance agents. In Georgia, that network includes 639 independent agents.
Wang encouraged Mercury customers to look at the difference available to homeowners insurance rates when bundling with auto policies. She stated that bundling the two could mean “16% in additional savings,” in New Jersey, as well as being able to “save up to 14% on an auto policy” when bundling in Georgia. The insurer has made a recent focus in the states of marketing itself as the affordable choice, with additional savings options.