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10-26-2009, 03:21 PM
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Senior Member
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Join Date: Feb 2009
Location: Nassau County
157 posts, read 62,997 times
Reputation: 16
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Anyone have Mercury Homeowner Insurance???
My husband and I are in the process of purchasing homeowner's insurance for the house we are buying. My insurance broker suggested Mercury Insurance and told me they are a very sound company. I'm a little weery b/c I've never heard of them. Does anyone have them for homeowner's? If so, I'd love to hear your thoughts on them. They are about $800 less per year for us then Traveler's. Right now I have Traveler's for my condo and love them but they are just too expensive to have for our house.
Any info on Mercury Insurance would be helpful. Thanks in advance.
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10-26-2009, 03:28 PM
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Sarcasm mode:ON
Status:
""Whatever""
(set 12 days ago)
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Join Date: Jan 2009
Location: In my house
1,054 posts, read 408,214 times
Reputation: 145
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Never even heard of this company before.
I too am shopping for a better rate.
I'm paying around $1100 for a Cape with some off brand company.
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10-26-2009, 03:31 PM
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Senior Member
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Join Date: Feb 2009
Location: Nassau County
157 posts, read 62,997 times
Reputation: 16
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Quote:
Originally Posted by twingles
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For a ranch home in Kings Park (1150 square feet with a finished basement) $1,033.00 per year. I think it's a great rate but God forbid anything happens...will they cover it? that's my concern. My broker actually told me he switched all his own personal stuff over to them. I did see many bad things about the car insurance end with them but I'm only concerned with HOI. Who do you have now? |
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10-26-2009, 03:39 PM
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Pls email me controversy instead of posting. Thks.
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Join Date: Jul 2006
Location: Nassau, Long Island
3,423 posts, read 1,361,605 times
Reputation: 692
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It sounds like this company might be what they call an "excess line" insurance company. For starters, if this is the case, you need to know their status in NY ... is their coverage going to be protected by NYS if they go bankrupt, etc.?
Read this post for more information on determining whether an excess line company would work for you:
http://www.city-data.com/forum/10735724-post7.html
As a matter of fact, read the whole thread, because there is also some good advice from fitz123 on there about homeowners insurance. |
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10-26-2009, 05:49 PM
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Senior Member
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Join Date: Feb 2009
Location: Nassau County
157 posts, read 62,997 times
Reputation: 16
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Quote:
Originally Posted by I_Love_LI_but
It sounds like this company might be what they call an "excess line" insurance company. For starters, if this is the case, you need to know their status in NY ... is their coverage going to be protected by NYS if they go bankrupt, etc.?
Read this post for more information on determining whether an excess line company would work for you:
http://www.city-data.com/forum/10735724-post7.html
As a matter of fact, read the whole thread, because there is also some good advice from fitz123 on there about homeowners insurance. |
Thanks for the info. It was very helpful. I don't think I am going to go with this company. According to BBB's website, they got a rating of a D+. I don't feel confident going with them.
Can anyone else recommend who they use for homeowner insurance? If so, are you happy with them? |
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10-26-2009, 08:11 PM
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Go Giants!
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Join Date: Apr 2009
498 posts, read 188,756 times
Reputation: 110
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I can't believe you can't do better than that. I pay $1400 a year for a 1700 square foot with finished basement and I have State Farm. I'd shop around. Car insurance you can fool around with...but the only time you are going to use your HO is if something major happens, and do you really want "Mercury Insurance" standing behind you when that happens?
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11-11-2009, 08:22 PM
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Junior Member
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Join Date: Sep 2009
Reputation: 10
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We're new to the market too... shopping around we got quotes from one called Otsego Mutual Insurance. Premium was very competative and deductible/coverage was comprable to the 7 or 8 other company quotes we got.
Has anyone heard of this co.?
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