Mercury Ins. Lowers Homeowners Rates in Penn., Seeks to Grow Market Share

Mercury Insurance said the company is lowering its homeowners insurance rates for Pennsylvania residents by an average of 10 percent. The Los Angeles-based insurer said the rate reduction would help attract more customers.

“Mercury is a major writer of homeowners insurance in several states; however, we just began writing this product in Pennsylvania recently,” said Brandt Minnich, vice president of marketing for Mercury Insurance. “We believe this rate reduction will help us grow this line in Pennsylvania so that it becomes a major revenue source for the company in the future.”

Mercury’s rate reduction applies to all Pennsylvania residents who purchase homeowners coverage, the company said. Mercury operates through a network of more than 380 independent insurance agents in Pennsylvania. The reduction would apply to new customers immediately and for policy renewals beginning April 9, and would save Mercury policyholders an average of nearly $150 a year, the company said.

Source: Mercury Insurance

Topics Trends Pricing Trends Pennsylvania Homeowners