Looking for an Erie car insurance review? Then you are on the right page! This article is an easy guide on Erie car insurance review. Ranked as the 12th largest auto insurer in the United States, Erie is a major placeholder in the Insurance market.
In this guide, we will explore what Erie Car Insurance is all about, the coverage it provides, its pros and cons, and a total review of all you need to know. Without further ado, let’s jump in!
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An Overview of Erie Insurance
Table of Contents
Erie Insurance stands as a significant player in the U.S. insurance industry, holding the 19th position among property/casualty insurers based on net premiums written. It proudly holds the 12th spot for both auto and home insurance by direct premiums written, proving its substantial market presence.
The company’s notable standing is further highlighted by its inclusion holding 414th position based on total revenue in the FORTUNE 500® list. Overall, Erie Insurance’s impressive rankings prove its footprint and influence in the insurance industry.
Erie car insurance coverage
Erie car insurance provides a comprehensive range of coverage to protect drivers in various situations. Here’s a breakdown of some of their standard coverage options:
1. Liability Bodily Injury (BI) and Property Damage (PD) Liability
Erie’s liability coverage covers medical expenses for other drivers and passengers and damages made to vehicles in accidents where the policyholder is at fault. This coverage provides financial support mainly for third-party injuries and property damage.
2. Collision Coverage
Erie’s collision coverage pays for damages to the policyholder’s vehicle resulting from collisions with other vehicles and road hazards. This protection covers repair costs when accidents occur.
3. Comprehensive Coverage
Erie’s comprehensive coverage provides financial security against damages to the insured vehicle from different sources. This includes accidents from animal collisions, natural disasters, theft, and vandalism. It goes beyond collision coverage and addresses a broader spectrum of risks.
4. Medical Payments Coverage (MedPay) and Personal Injury Protection (PIP)
MedPay and PIP cover medical bills for the policyholder and their passengers after an accident. Additionally, PIP can extend its coverage to include lost wages, thus, providing additional financial support during recovery.
5. Underinsured/Uninsured Motorist Coverage (UM/UIM)
Erie’s UM/UIM coverage protects in situations where the at-fault party has insufficient or no insurance. It covers:
- Property Damage (UMPD/UIMPD): Pays for property damages for the policyholder and passengers.
- Bodily Injuries (UMBI/UIMBI): Covers bodily injuries for the policyholder and passengers.
Other Erie Coverage Options
You can also purchase other add-on coverage with the standard policy they offer. This includes:
- Roadside assistance:
- Pet coverage
- Erie Auto PlusⓇ
- First accident forgiveness
- New car replacement
- Better car replacement
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How much does Erie Car insurance cost?
On average, Erie car insurance costs $122 monthly or $1,458 annually for full-coverage car insurance. This means it is 38% below the national average of $2,008 per year, thus, it is one of the cheapest car insurance providers in 2024.
Why Erie car Insurance? 5 benefits
1. Strong Industry Reputation
With over, 100 years in the industry, Erie has a robust industry reputation and is known for its reliability and commitment to customer satisfaction. Boasting many positive reviews on Trustpilot, the company’s track record, and positive standing instill confidence in policyholders, assuring them of dependable coverage.
2. Wide Array of Optional Coverages
Erie offers a plethora of optional coverages, allowing policyholders to customize their insurance plans to suit their specific needs.
This flexibility ensures that customers can personalize their coverage, and address unique circumstances and potential risks comprehensively.
3. Variety of Auto Insurance Discounts
Erie provides many auto insurance discounts, recognizing the importance of affordability for its customers. These discounts provide policyholders with many opportunities to reduce premium costs, making it an attractive and cost-effective choice for drivers. Some of their discounts include:
- Safe driving discount
- Safety equipment discount
- Multi-car discount
- Multi-policy discount
- Young drivers (Under 21)
- Annual payment plan
4. Good Customer Service
Erie is a company that values providing excellent customer service. A dedication to quickly addressing concerns and easily accessible customer support channels go a long way towards making policyholders’ experiences favorable overall.
The company’s commitment to guaranteeing customer satisfaction amplifies its attractiveness to those in search of dependable and encouraging insurance providers.
5. Local Agents
Erie Insurance has more than 13,000 agents spread across its service area. This makes finding an independent local agent who can help you find the right coverage for your needs and solve other issues easier.
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Cons of Erie car insurance
Erie car insurance, while reputable, has limitations that you should be aware of. They include:
1. Limited Availability: Erie is only available in 12 states and Washington, D.C., restricting its accessibility for car owners residing outside these areas. You can only buy Erie car insurance if you are in any of these states:
- Illinois
- Ohio
- Pennsylvania
- Tennessee
- Virginia
- West Virginia
- Wisconsin
- Indiana
- Kentucky
- Maryland
- New York
- North Carolina.
2. No Usage-Based Insurance Program: Erie does not offer a usage-based insurance program, which monitors driving behavior to reduce premiums based on safe driving habits.
This lack of a telematics-driven program can be a drawback for those seeking personalized and discounted coverage based on their driving patterns.
What’s the verdict on Erie car insurance?
Overall, the verdict on Erie car insurance is positive. With a strong industry reputation, a wide range of optional coverages, and various auto insurance discounts, Erie appeals to customers seeking reliable, affordable, and customizable insurance.
However, limitations include its availability in only 12 states and Washington, D.C., excluding interested car owners outside these areas. Additionally, the absence of a usage-based insurance program may discourage those seeking personalized discounts based on driving habits.
Overall, Erie is a good car insurance provider with its customer-centric approach and commitment to quality service, making it a good choice for car owners in its serviced regions.
