Homeowners Insurance

Mercury Insurance debunks five common homeowners‑insurance myths: policies don’t cover all perils (flood, earthquake, mold, pests), aren’t prohibitively costly when discounts and smart‑home devices are used, renters need separate coverage, and home‑based businesses require specific endorsements. The firm highlights how climate‑risk modeling, AI‑driven underwriting, embedded insurance, and cloud‑based administration are reshaping coverage and pricing. By urging consumers to review limits, exclusions, and optional riders, Mercury aims to close gaps and promote clearer, more affordable protection across its 11‑state market.

Mercury Insurance plans to file a homeowners insurance rate request using the CDI’s Verisk Wildfire Model, aligning with Commissioner Lara’s Sustainable Insurance Strategy. This initiative aims to expand insurance accessibility in California. Mercury’s CEO, Gabriel Tirador, sees this as a significant advancement for broadening coverage options. Mercury previously offered new policies in Paradise, CA, after the Camp Fire, demonstrating a commitment to resilient communities. Mercury Insurance is a major multi-line insurance carrier operating in multiple states.