Prop 17 – The “Mercury Insurance” Initiative

The other day I wrote that Proposition 17 — on the ballot in June — is known as the “Mercury Insurance Initiative” and that I’ll explain that later.  

Well, it’s later.
The Mercury Insurance company has single-handedly spent millions of dollars to put Proposition 17 on the ballot.  Now they are about to spend millions more advertising it.  The proposition allows insurers to penalize consumers for missing one payment or having a lapse in car insurance coverage.  So if you stopped driving – couldn’t afford it, left the state, etc. – or miss a payment, your car insurance rates skyrocket.
Mercury Insurance is going to spend millions of dollars to advertise an initiative that will cost people a ton of money by claiming it saves people money?  Right – that’s why they’re spending millions on it, to save you money rather than to make themselves a bundle.  (My bet – in this current economy they will also claim that it “creates jobs.  Just a hunch.)
The Campaign for Consumer Rights has a Stop Prop 17 website, with a great video, “Mercury Insurance Wants You To Pay More For Your Car”.  Here is is for your viewing pleasure: