Erie Insurance is a company that offers car insurance policies that cover liability, collision, comprehensive, and more.
But is Erie Insurance legit? How good is their car insurance? What does it cover? What are the pros and cons of choosing Erie Insurance? How much does it cost? How is their claim process, ratings, and customer service? And how do they compare to other car insurance companies?
In this article, we will answer these questions and more, so you can decide if Erie Insurance is the right choice for you.
Is Erie Car Insurance Good?
Erie car insurance is good for drivers who want reliable and personalized coverage, as well as excellent customer service and support.
The Erie car insurance has been in business since 1925 and has a reputation for being one of the best car insurance companies in the US.
Erie car insurance has won many awards and recognitions, such as:
- Ranked #1 in customer satisfaction with the auto insurance purchase experience by J.D. Power in 2020
- Ranked #4 in customer satisfaction with auto insurance claims by J.D. Power in 2020
- Ranked #5 in customer satisfaction with auto insurance in the North Central region by J.D. Power in 2020
- Named one of the best car insurance companies of 2020 by U.S. News & World Report
- Named one of the best car insurance companies of 2020 by The Zebra
Is Erie Insurance Legit?
Erie Insurance is a legit company that has been in business for almost a century. It is licensed to operate in 12 states and the District of Columbia.
It is also accredited by the Better Business Bureau (BBB) and has an A+ rating. However, being legit does not necessarily mean being reputable.
Erie Insurance has also received some negative reviews and complaints from customers and regulators, which we will discuss in the next sections.
Erie Car Insurance Coverage
The Erie car insurance offers a variety of coverage options to suit your needs and budget. Some of the coverage types they offer are:
- Liability: This covers the damages and injuries you cause to others in an accident. It is required by law in most states.
- Collision: This covers the damages to your own car in an accident, regardless of who is at fault.
- Comprehensive: This covers the damages to your car caused by events other than collision, such as fire, theft, vandalism, or natural disasters.
- Uninsured/Underinsured Motorist: This covers the damages and injuries you suffer in an accident caused by a driver who has no insurance or not enough insurance.
- Medical Payments: This covers the medical expenses for you and your passengers in an accident, regardless of who is at fault.
- Personal Injury Protection: This covers the medical expenses, lost wages, and other costs for you and your passengers in an accident, regardless of who is at fault. It is required by law in some states.
- Rental Reimbursement: This covers the cost of renting a car while your car is being repaired after an accident.
- Roadside Assistance: This covers the cost of towing and roadside assistance services if your car breaks down or is disabled.
- Accident Forgiveness: This prevents your premium from increasing after your first at-fault accident, as long as you have been a customer for at least three years and have a clean driving record.
- Diminishing Deductible: This reduces your deductible by $100 for every consecutive year you remain claim-free, up to a maximum of $500.
- New Car Protection: This replaces your car with a new one of the same make and model if it is totaled within the first two years or 24,000 miles of ownership, whichever comes first.
- Better Car Protection: This replaces your car with a newer one of the same make and model if it is totaled after the first two years or 24,000 miles of ownership, whichever comes first.
Erie Insurance Pros and Cons
Erie Insurance has some advantages and disadvantages that you should consider before buying a policy from them. Some of the pros are:
Strong Financial Stability: Erie Insurance boasts an impressive financial rating of “A+” (Superior) from A.M. Best, indicating its ability to pay out claims even during difficult economic times.
Exceptional Customer Satisfaction: Erie Insurance consistently receives high marks for customer satisfaction, with J.D. Power awarding it the top spot in the Mid-Atlantic and North Central regions for auto insurance customer satisfaction in 2023.
Competitive Rates: Erie Insurance offers competitive rates, especially for seniors, safe drivers, and those with good credit histories. The company’s Erie Rate Lock® feature helps protect policyholders from rate increases for up to five years after an accident-free period.
Variety of Coverage Options: Erie Insurance provides a wide range of coverage options to meet the diverse needs of its policyholders, including auto, home, business, and life insurance.
User-Friendly Online Platform: Erie Insurance offers a convenient and user-friendly online platform where policyholders can manage their accounts, make payments, file claims, and access various resources.
Limited Coverage Availability: Erie Insurance’s coverage is not available in all states, and it may not offer certain specialized coverage options that some policyholders may need.
Potential for Higher Deductibles: While Erie Insurance offers competitive rates, it may have higher deductibles compared to some of its competitors. This could lead to higher out-of-pocket expenses in the event of a claim.
Mixed Reviews on Claims Handling: While some policyholders praise Erie Insurance’s claims handling processes, others have reported delays and difficulties in resolving claims.
Limited Digital Tools: Erie Insurance’s mobile app does not allow policyholders to file claims directly, which may be inconvenient for some users.
Regional Availability: Erie Insurance’s primary focus is on the Mid-Atlantic and North Central regions, and its coverage may be less readily available in other parts of the country.
Erie Insurance Review
Erie Insurance is a good car insurance company for drivers who want reliable and personalized coverage, as well as excellent customer service and support.
The Erie Insurance has been in business for almost a century and has a reputation for being one of the best car insurance companies in the US.
Erie Insurance offers a variety of coverage options and features, as well as competitive and customizable rates and discounts.
However, Erie Insurance is also limited and regional, which means that it may not be available or affordable for everyone.
Erie Insurance also has mixed reviews and complaints from customers online, which may indicate some issues or inconsistencies with its service and quality.
How Much Does Erie Insurance Cost?
The cost of Erie Insurance depends on many factors, such as your location, driving history, vehicle, and coverage. According to The Zebra, the average annual premium for Erie Insurance is $1,141, which is lower than the national average of $1,548. However, your actual premium may vary depending on your individual circumstances and preferences. To get an accurate quote from Erie Insurance, you can visit their website, call their toll-free number, or contact a local agent.
Erie Insurance Claim
If you need to file a claim with Erie Insurance, you can do so online, by phone, or by visiting a local agent. You will need to provide the following information:
- Your name, policy number, and contact details
- The date, time, and location of the accident
- The names, contact details, and insurance information of the other drivers and passengers involved
- The names and contact details of any witnesses or police officers
- The details and photos of the damages and injuries
- The police report or incident number
After you file a claim, a claims representative will contact you to review your coverage and explain the next steps.You will also need to obtain an estimate of the repair costs from either an Erie Insurance approved shop or a shop of your choice. Depending on your coverage and the nature of the claim, you may receive a check or a direct deposit for the settlement amount.
Erie Insurance Ratings
Erie Insurance has received various ratings from different sources, such as:
- J.D. Power: Erie Insurance scored 880 out of 1,000 points in the 2020 U.S. Auto Insurance Study, ranking #4 out of 24 insurers in the North Central region. Erie Insurance also scored 917 out of 1,000 points in the 2020 U.S. Auto Insurance Shopping Study, ranking #1 out of 19 insurers in the overall purchase experience. Erie Insurance also scored 877 out of 1,000 points in the 2020 U.S. Auto Claims Satisfaction Study, ranking #4 out of 24 insurers in the overall claims experience.
- Consumer Reports: Erie Insurance scored 89 out of 100 points in the 2019 Consumer Reports Car Insurance Ratings, ranking #4 out of 53 insurers in the overall satisfaction. Erie Insurance also scored 4 out of 5 points in the categories of premiums, claims, service, and policy review.
- A.M. Best: Erie Insurance has an A+ (Superior) rating from A.M. Best, which indicates a strong ability to meet its financial obligations and pay its claims.
- BBB: Erie Insurance is accredited by the BBB and has an A+ rating, which indicates a high level of trust, honesty, transparency, and responsiveness.
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