Mercury Insurance Highlights Importance of Winter Maintenance for Homeowners

Written by Emily J. Thompson, Senior Investment Analyst

Source: Newsfilter

Updated: 1 day ago

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MCY-1.51%

Should l Buy MCY?

Source: Newsfilter

Cost of Delayed Maintenance: Industry research indicates that the average cost of delayed home repairs exceeds $5,600, with many homeowners underestimating the severity of minor issues, leading to higher repair bills and financial strain.
Importance of Maintenance: Neglecting routine upkeep can result in water intrusion, structural deterioration, and decreased property value, with studies showing that homeowners who delay maintenance may ultimately pay three to five times more than they would have spent on preventive care.
Winter Maintenance Window: Late winter presents an optimal opportunity for homeowners to focus on preventive maintenance, with recommendations to clear gutters, inspect roofs and attics, and check heating systems to avoid larger damages from spring storms.
Maintenance Checklist Recommendations: Mercury Insurance advises homeowners to prioritize roof, attic, and gutter inspections, HVAC system tune-ups, plumbing leak checks, weather-stripping around doors and windows, and testing smoke and carbon monoxide detectors to mitigate repair costs during peak seasons.

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About MCY

Mercury General Corporation is an insurance holding company engaged in writing personal automobile insurance business. The Company writes homeowners, commercial automobile, commercial property, mechanical protection and umbrella insurance. Its automobile coverage includes collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured, and uninsured motorists, and other hazards. Its homeowners’ coverage includes dwelling, liability, personal property, and other coverages. It offers standard, non-standard and preferred private passenger automobile insurance. It also offers homeowners insurance in approximately 10 states, commercial automobile insurance in approximately four states, and mechanical protection insurance in various states. Its subsidiaries include Mercury Casualty Company, California Automobile Insurance Company, Orion Indemnity Company, American Mercury Insurance Company, Animas Funding LLC, and Mercury Insurance Company of Illinois.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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Mercury Insurance Urges Homeowners for Winter Maintenance

1 day agoPRnewswire

Importance of Maintenance: Mercury Insurance highlights that delayed home repairs now average over $5,600, with many homeowners underestimating minor issues, leading to potentially higher repair costs and financial strain.
Cost of Deferral: Research indicates that neglected home repairs can increase overall costs by approximately 7% annually, while homeowners who delay maintenance may ultimately pay three to five times more than they would have spent on preventive care, underscoring the necessity of timely upkeep.
Winter Maintenance Window: Late winter provides homeowners with a valuable opportunity to inspect and reinforce vulnerable areas of their homes to prevent issues like water damage, roof leaks, and HVAC failures that often arise in spring, thereby safeguarding long-term property value.
Education and Guidance: Through ongoing education and risk-prevention guidance, Mercury Insurance assists homeowners in taking proactive steps to protect their homes, manage risks, and control long-term costs, ensuring they avoid more expensive repairs during peak seasons.