Erie continues to build a strong reputation, as it climbed five spots in the latest Fortune 500 list. The company’s reputation carries over to its policyholders as well, as reflected in Erie being awarded a 2020 Confirmit ACE Award for the Voice of Customer category, which reflects they handle claims satisfactorily.
With Erie car insurance, you can get the standard collision and comprehensive coverage, but you also have a multitude of options for additional coverage and pricing. In terms of length and extent of coverage, Erie has several features that make it competitive in the market.
The average premium for Erie car insurance is relatively affordable at $409 annually for minimum coverage and $1,233 annually for full coverage. These rates are well under the national average for car insurance, which are $565 per year and $1,674 per year for minimum and full coverage, respectively.
Erie is the 11th largest insurer for homeowners policies. The company has a guaranteed replacement cost and additional options to help better align your coverage with your individual needs. Erie’s home insurance policyincludes standard coverages like dwelling, personal property, liability and additional living expenses, plus some extra add-ons available to customize your homeowners insurance.
An Erie’s homeowners insurance policy typically costs $897 per year on average for $250K in dwelling coverage. This is considerably less than the national average for home insurance policies, which is $1,312 per year. However, your premium will likely be different based on your location, replacement value and other factors.
Erie offers four general types of life insurance policies, including an Erie-specific one. Its website even provides a calculator for customers to use in determining coverage needs, which assesses information regarding your debts, assets and family.
Erie Insurance’s user rating on Consumers Advocate is 3.6 out of 5 or “very good.”
Erie ranks seventh place in the 2020 J.D. Power Auto Claims Studyout of 24 eligible ranking positions, in which its customer satisfaction score is 880 out of 1,000 points. Similarly, Erie scores 880 out of 1,000 in the 2020 J.D. Power U.S. Insurance Shopping Study.
Erie also has a complaint index of 1.10 from the National Association of Insurance Commissioners, which is slightly higher than average. The company’s financial rating is an A+by A.M. Best, indicating Erie has superior financial health.
Erie’s mobile app is offered on Android and iPhone, allowing customers to access their policies, track claims, view ID cards, pay bills and more. The Android app on Google Play has 3.8 stars and 3.3 stars on the App Store.
Bankrate gives Erie a score of 4.4 out of 5, based on a combination of third-party rankings from the NAIC and J.D. Power, its financial strength and average quoted rates. This score can be used to help you make a decision when purchasing insurance and considering Erie.
In addition to home, life and car insurance from Erie, customers can also opt-in to these policies.
Erie has a wide range of coverages and discounts for auto insurance but limited discount opportunities for homeowners insurance. Though Erie has a small footprint in the U.S., it may be a good fit for policyholders looking for broad auto coverage in the Northeast states. With dedicated agents, policyholders wanting a personalized experience may also consider Erie for their insurance needs.