Mercury Insurance Adds Service Line Protection to its Homeowners Product Line

Did You Know? Each year, the country experiences 240,000 water main breaks costing nearly $3B, according to the Environmental Protection Agency, and most homeowners aren’t aware that they’re responsible for the repair and replacement costs if a break occurs on their property.

Enter Mercury Insurance. Last month, the Los Angeles-based regional insurer introduced Service Line Protection, an enhancement to its homeowners insurance policy that offers up to $10,000 per occurrence for damage to exterior and underground service lines, including (1) water piping that connects from the dwelling or other structure to a public water supply or private well, (2) sewer piping that connects from the dwelling or other structure to a public sewer or private septic system, (3) ground loop piping that connects to a heat pump, (4) piping providing heating including geothermal, natural gas, propane and steam, (5) piping supplying compressed air, and (6) power lines that provide electrical service to the dwelling or other structure.

“A majority of Americans can’t afford a surprise repair bill, let alone the cost to repair a service line that averages $4,428. Mercury Insurance’s Service Line Protection helps homeowners by covering the gaps in standard insurance policies and providing an extra security blanket “ – Mercury’s chief claims officer, Randall Petro.

Service Line Protection is available to Mercury’s homeowners insurance policyholders in Arizona, California, Georgia, Illinois, Nevada, New Jersey, Oklahoma, Texas and Virginia.

Bottom Line: operating in the space of new entrant Bey MGA. (Speaking of Bey MGA, here’s what Steve had to say on their offering.)