Each month, we will be highlighting one of our company partners. As an independent agent, we have access to numerous companies that cover preferred drivers to those who have made mistakes. Our companies also cover a variety of risks from cars to houses, boats, motorcycles, rental properties, and even those fun weekend toys. Our goal is to have companies which enable us to write most risks that call us or walk through the door, no matter what kind of insurance is requested. We try to place each client with the company best suited for him or her that is financially solid and stands behind the client.
For our first company highlight, I have chosen the flag bearer at Ken May Insurance Services, Mercury Insurance. Mercury was started in 1962 by a gentleman named George Joseph who at the age of 90 is still their chairman. Mr. Joseph started in the insurance business by selling door to door. With about $2500 Mr. Joseph started his own insurance company which today is the third largest private passenger automobile insurance carrier in California and has over $4 Billion in total assets. The company was built with careful underwriting, strict cost control, and efficient and fair claims service.
In World War II, Mr. Joseph flew over 50 missions as a B-17 bomber pilot. He is the essential American success story, a war hero that used his intellect and good old fashioned hard work to build a company with a retention rate that is over 97%. That’s right, 97 out of every 100 Mercury clients are satisfied with their experience with the company and their agent and renew their policies, most for many years. Mr Joseph is a true icon in my industry.
And speaking the of the agency force, I am proud to be part of the Mercury family! I don’t work for Mercury but after many years in the business, they honored me by offering me an appointment to represent them and write auto, homeowners, renters, and mechanical breakdown policies through them. In fact, most dealerships mark up the cost of mechanical breakdown policies sold at the dealership by 200%. With some restrictions, our price for the same product is usually 1/3 of the dealer cost. When my oldest son bought his Nissan Sentra, the dealership offered this product to him for $1500. He purchased it from us for $499.
Mercury Insurance offers many discounts to their auto insurance clients including multi-car, multi-policy, good driver, discounts for vehicle safety features, and alarm discounts. They also offer persistency discounts to those loyal clients that renew year after year, discounts for engineers and scientists, educators, CPA’s, and even an alumni discount for those who have graduated from a 4-year university.
Mercury is also the best bet for young drivers. They don’t charge for a young driver learning how to drive on a learners permit until he/she either gets licensed or turns 18, whichever comes first. This is a real benefit to mom and dad who can delay paying for that young driver. And speaking of young drivers, Mercury’s good student discount is one of the most generous offered and can really offset the price of having a new driver on the policy.
I am proud to represent the Mercury Insurance Group. I can sleep well at night knowing that I am offering a solid product to my wonderful clients who partner with a financially solid company with fast and fair claims service who have been around for over 45 years.
Ken May has been serving the North San Diego County insurance community since 1982 except for a brief 3 ½ year stint in Texas where he was the senior vice president for a start-up insurance general agency. He is also the president of the American Agents Alliance, a non-profit professional insurance agent’s organization that originated in California in 1963. And over 60% of those that leave Ken May Insurance Services for any reason come back later.