Erie Insurance is a publicly held insurance company that has been offering auto, home, business, and life insurance since 1925.
The company operates through a network of over 12,000 independent agents with the goal of offering high-quality, affordable insurance products that protect families and small business owners from life’s many “what ifs.”
Erie Insurance enjoys high rankings and high levels of customer satisfaction overall.
Not only did they receive the highest ranking in the J. D. Power 2018 U.S. Insurance Shopping Guide Study for their auto insurance purchase experience ranking, but they also report an A+ rating with A.M. Best.
While you may not have heard a lot about this company, Erie Insurance is currently the 11th largest auto insurer in the U.S., the 9th largest home insurer in the U.S., and the 12th largest business insurer in the U.S.
Erie Insurance Auto Coverage Review
The company receives high ratings from J.D. Power for customer satisfaction, their claims process, and their general shopping experience. They also offer several discounts that can make insurance coverage more affordable.
Erie insurance sells auto coverage in the following states:
- New York
- West Virginia
- North Carolina, and
- Washington D.C.
Discounts are available for safe driving, multiple policies, reduced usage, safety equipment, annual payment plans, and multiple cars.
With the ERIE Rate Lock® feature, your rates will only go up if you add or remove a vehicle or a driver or change the address where you park your car.
Accident forgiveness coverage is available after you’ve been an Erie customer for at least three years. And if your pet gets hurt in an accident in your car, Erie will cover vet treatment costs with a limit of $500 per pet or $1,000 total.
Optional add-ons include rental car expenses, windshield repair, locksmith coverage, personal item coverage, and extended auto insurance coverage called Erie Auto Plus.
Erie Insurance Home Coverage
Erie Insurance also offers some of the best homeowners insurance, renter’s coverage, condo insurance, mobile home insurance, flood insurance, and more.
Their home insurance is particularly valuable due to their guarantee of replacement cost, which is only available in some states.
According to Erie Insurance, many homes are undervalued and thus underinsured. With Erie’s Guaranteed Replacement Cost coverage, you can rest assured you’ll have enough insurance to rebuild your home and replace all its components if you experience a loss.
Coverage you can purchase for your home includes water backup and sump pump overflow, flood insurance, earthquake insurance, service line protection, firearms, computer and equipment, jewelry, other structures, personal liability, identity recovery, home business protection, and rental income protection.
Available discounts include fire, burglary alarm, sprinkler system credit, and multi-policy.
You can purchase with competitive rates that ensure you can afford enough home coverage for your needs.
Erie Insurance Life Insurance
Erie Insurance also offers highly rated life insurance products to help your family replace your income and avoid financial distress in the event of your death.
You can choose from three main types of policies that last from ten years to your lifetime, with the goal of providing income for your final expenses, children’s college education, debt repayment, a spouse’s retirement, childcare, and more.
Do you need life insurance? Erie seems to think so.
They point to the fact that it now costs over $245,000 to raise a child to the age of 17 and that it typically costs at least $7,000 for a modest funeral. Without life insurance, your family could struggle to cover these costs once you’re gone.
Term life insurance from Erie Insurance is available in policies that last ten, fifteen, twenty, or thirty years. While this coverage only lasts for a specific term or length of time, premiums tend to be very affordable.
Erie Insurance also offers whole life insurance with flat premiums and coverage that is guaranteed your entire life.
You can also buy universal life coverage from Erie. This life insurance product provides entire life protection and includes a policy cash value with a flexible payment schedule.
Erie Business Insurance
Finally, Erie offers an array of business insurance products that can protect you from financial losses in a wide range of scenarios.
The company provides custom business policies that cover industries such as auto services, contractors, hotels and hospitality, landlords and property owners, manufacturers insurance, offices, professional services, restaurants, retail, and wholesalers-distributors.
- Business auto insurance
- Business property insurance
- Business liability and catastrophe insurance
- Crime, theft, and fraud insurance
- Worker’s compensation
- Commercial and contract bonds
- Key person life insurance
- Group life insurance
- Business data breach coverage
Finally, Erie Insurance offers umbrella coverage that can provide additional protection to consumers who have significant assets to protect.
They provide this coverage to individuals as personal liability and catastrophe insurance, but also to businesses as liability and catastrophe insurance.
Should You Buy a Policy with Erie Insurance?
At the end of the day, Erie Insurance is a highly rated insurer that offers a broad range of products for individuals, families, and businesses.
Not only do they offer policies to cover all your insurance needs, but they offer many additional coverage options that can help you tailor your insurance to your needs.
Erie Insurance also offers an updated website with features that can make overseeing your insurance policies and claims much easier.
On the company website, you can contact the company and find important consumer data, begin an insurance claim, make a payment, or reach out for customer support.
Once you buy insurance from Erie Insurance, you will have your own account with a private log-in and password.
Once in your account, you can view policy details, upload information, and keep tabs on your insurance premiums.
Should you buy a policy with Erie Insurance? Really, only you can decide.
As you continue your search for auto, home, or life insurance, make sure to get quotes from several companies. Also take the time to compare each policy in terms of its coverage level, deductible, and exclusions.