Insurance Journal Forums

anybody familiar with the Mercury broker appointment, it states no advertising and one year agreement. Seems odd that they wouldn't allow you to even put a sign in your store.

W2e used to have a broker contract with them until the Krumme v. Mercury suit basically forced them to make all their agents brokers. My understanding is that almost all of the brokers have chosen to change to agency contracts as did we.

If I am not mistaken, the broker contract does not allow for contingency commissions (those big ol' checks they cut to agents and pass out at their annual agency luncheons). Those alone are good enough reason to keep an agency contract, in my opinion. This year, that will total about 25% of our commissions from Mercury, not too shabby.

Unless you charge a lot of broker fees, I would imagine the agency contract is a better choice.

How is it lately getting a Mercury appointment compared to others? Do you like doing business with them?

Also, is it difficult to get an appointment with them?

Thank you in advance.

I would love to get an agency appointment, but from my understanding it is much harder then a broker appointment. Is it pretty easy to switch over to an agency appointment?

I submitted a new Mercury broker application 4 1/2 months ago and still waiting for approval or even a denial.

I don't know about other states, but for CA, they also asked for a copy of bank statements for 3 months. I felt unconfortable about sending this to anyone, but since Mercury rates are low in Southern California, I decided to give it a go.

I am regreting it since I have not heard anything from them. I had to call after a month to confirm they got the package.

They told me it takes about 4 months to get it through the system. It probably is sitting in someones desk collecting dust.

Harrison
Newport Bay Insurance Svs.
http://www.newportins.com

A Mercury appointment is like a Goldmine!!!

So, is it touch to get a Mercury BROKER appointment also?

Mercury in CA. is a smart move in any format. (agent or broker)
Obviously, depending upon what type of auto you want write, broker fees may not be as important or possible.

But, the best thing I did was obtain an appt. with Mercury in AZ. Great company, great support and great compensation.

In Ca a Mercury broker appointment is easy to get. The problem is they only pay 5% commission so you would have to charge broker fees. If you charge a broker fee the customers will just purchase the insurance through an agency that has an agent appointment and can not charge fees. I sent in an Mercury application a few days ago so we will se how is goes.

Porter

Newb comment here but the Mercury rate is awesome, it's evident as they are almost always at the top 5.. and with the auto/home combo it can be ultra competitive

However, like i said, this is a newb comment.. i've heard from seasoned agents is that Merc is not the best claims service

Am i wrong

Be Glad your not in Michigan.

Mercury is a great company but there rates here aren't very competitive.

Mercury doesn't hurry about appointing agents. Good Luck

What do you think is a better appointment to have in terms of rates, coverages, ease of doing business with..

Mercury or Allied?

There is no one BEST...it is entirely based on a very localized market condition. Mercury (at least in California) has a great deal of brand history of being one of the lowest in rate pricing, but recent rate revisions have taken them out of the lowest two or three in many areas. Allied has a reputation of being in the general price point category, but also has a history of being VERY liberal in property areas of brush, hills and slopes, whereas Mercury tends to be more traditional in rejecting risks with those attributes.

If I were looking for an appointment in the urban brush areas or foothills of California, then probably Allied would be my choice, while if my agency was located in a flat, suburban or urban area with a lot of tract housing and low urban brush exposure, then I'd very much want Mercury.

If my agency concentrated mostly on Auto, then Mercury would be a strong choice because of their history of lower rates, even if at present, they're not the lowest.

As an agency owner, I realize that I cannot represent each and every company licensed to do business in my state, but if I can acquire and hold appointments with two or three of the top tier in either service or rates, then I'll be able to stay in business.

To "D's Insurance Store. I have had Allied for some time and I have found that they are anything but liberal with regards to brush. They go beyond the Risk Meter (or any brush mapping service) and actually decline risks that are outside of their distance to brush. They are VERY strict with brush, so if you are in an area as I am where there is alot of brush, be cautious with Allied.

We are Mercury brokers but don't like to sell them because of their policies toward insureds. Most people who have been involved with a Mercury claim know what I mean. Our agents have to charge $150 or we don't pay them on the deal. That said we also have Travelers, Hartford and Safeco so this is rarely a problem.