Jeffrey Wade
Erie Insurance is a car insurance company based in Erie, Pennsylvania, serving 12 states in the Northeast, Midwest, and South, as well as Washington, D.C. The company offers a range of standard and additional coverage options, including liability insurance, comprehensive coverage, and collision coverage. Erie's auto insurance rates are known for being competitive and often lower than the national average, especially for good drivers and those with clean records. However, rates may vary depending on factors such as age, driving record, and credit score. The company also provides excellent customer service and has a high retention rate.
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What You'll Learn
Erie's rates for young drivers
Erie Insurance offers competitive rates for young drivers, although they are still higher than those for older drivers. Erie's average rate for a good driver is $1,866 per year, which is more than $280 lower than the national average of $2,149. Erie's rates for 18-year-olds are 38% cheaper than the national average, and for 16-year-olds, the rate is about $770 lower than the national average.
Erie's Rate Lock feature allows customers to freeze their rate for the next year, regardless of whether they file an insurance claim, unless they make policy changes such as adding a driver. Erie also offers a youthful driver discount of 20% for those who complete an approved defensive driver course. Additionally, Erie provides a discount for unmarried drivers under 21 who reside with their parents.
While Erie's rates for young drivers are competitive, it is important to note that teenage drivers will pay some of the most expensive rates due to their lack of driving experience and higher risk of causing crashes. However, Erie offers opportunities for teens to find cheaper insurance with good student and driver training discounts. Young drivers can also save money by remaining on their parents' auto insurance policy.
Overall, Erie Insurance provides competitive rates for young drivers, with various discounts and opportunities to lower premiums.
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Erie's rates for drivers with poor credit
Erie Insurance offers competitive rates for drivers with various profiles, including those with poor credit. While Erie's rates for drivers with poor credit are higher than those for drivers with good credit, they are still lower than the national average and some competitors.
Erie's average auto insurance costs for drivers with poor credit are $4,064 per year, which is 8% lower than the national average. However, these rates are 125% higher than Erie's rates for drivers with good credit. The higher rates for drivers with poor credit reflect the insurance industry's data, which indicates that drivers with poor credit are more likely to file claims.
Erie offers various discounts and opportunities for drivers to lower their insurance premiums. For example, Erie provides multi-policy discounts of 15% to 25% when customers insure their auto and home with the company. Safe drivers with a good driving record can also receive discounts on their auto coverage. Additionally, Erie offers discounts for vehicles equipped with safety features like factory-installed airbags, passive restraint systems, anti-theft devices, and anti-lock brakes.
Erie also provides opportunities for teens and young drivers to find affordable insurance. For instance, drivers under 21 who complete an accredited driver training course are eligible for a discount (except in Kentucky and North Carolina). Erie also offers good student discounts and encourages young drivers to remain on their parents' auto insurance policy to save money.
Furthermore, Erie's Rate Lock feature allows customers to keep their premiums stable, even after a claim. This feature prevents future premium increases unless significant policy changes are made, such as adding or removing a vehicle or driver or changing addresses.
Overall, Erie's rates for drivers with poor credit are competitive in the market and may offer savings compared to some other insurers. However, actual rates may vary based on specific factors related to the driver and their vehicle.
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Erie's rates for drivers with a DUI conviction
Erie Insurance offers competitive rates for many different driver profiles. The company's average rate for a good driver is $1,866 per year, which is more than $280 lower than the national average. Erie's rates are also lower than the national average for all ages analysed, including 18-year-olds, for whom its rates are 38% cheaper.
Erie's rates are influenced by various factors, including age, driving record, credit score, and state of residence. For example, Erie offers opportunities for teens and young drivers to find cheap car insurance through good student discounts, driver training discounts, and the ability to remain on their parents' auto insurance policy. Additionally, Erie's Rate Lock feature can help prevent future premium increases unless significant policy changes are made, such as adding or removing a driver or vehicle, or changing addresses.
Erie also offers discounts for safe drivers with a good driving record, vehicles equipped with safety features, and customers with multiple insured cars or qualifying life or home insurance policies. The company provides standard coverage options like liability insurance, comprehensive coverage, collision coverage, and unique add-ons like pet injury coverage, windshield repair, travel expense coverage, accident forgiveness, and diminishing deductibles.
Overall, Erie Insurance is known for its competitive rates, broad coverage options, superior financial strength, and highly-rated customer satisfaction, making it a good choice for drivers seeking affordable and comprehensive auto insurance.
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Erie's rates for low-risk drivers
Erie Insurance offers competitive rates for many different driver profiles, including low-risk drivers. Erie's average rate for a good driver is $1,866 per year, which is $280 lower than the national average cost of car insurance of $2,149 per year. Erie's rates are also lower than the national average for all ages, including 18-year-olds, where its rates are 38% cheaper than the national average. Erie's cost to add a teen driver is also among the cheapest in the market, only beaten by Nationwide.
Erie's auto insurance rates are also lower than the state average in almost all the states where its costs have been analysed. However, its costs were found to be higher than average in Ohio and West Virginia. Erie's average rates for full coverage are comparable to other small regional carriers but lower than most major national insurers. In the case of state minimum coverage, Erie's rates are closer to the middle of the pack, but still well below many larger competitors.
Erie's rates are also one of the lowest for multiple driver profiles, including good drivers, teens, young adults, seniors, and people with speeding tickets. Erie also offers excellent rates for drivers who have caused accidents, with its rates being $680 lower than the national average of $3,210 per year. Additionally, Erie's rates for drivers with poor credit are 12% lower than the national average, although they are still higher than some competitors.
Erie offers a Rate Lock feature, which allows drivers to freeze their rates for the next year, regardless of whether they file an insurance claim, unless they make policy changes. Erie also provides a telematics program called YourTurn that rewards safe driving. Erie's broad coverage options, superior financial strength, and highly-rated customer satisfaction have earned it a Bankrate Score of 4.1 out of 5.0.
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Erie's rates for liability-only policies
Erie Insurance offers competitive rates for car insurance, with its average rate 13% lower than the national average of $2,149 per year. Erie's rates are lower than the national average for all ages analysed, including for 18-year-olds, where its rates are 38% cheaper. Erie's average annual cost for car insurance for a 16-year-old is about $770 below the national average of $2,408 per year.
Erie also offers a range of discounts that can lower the cost of liability-only policies. For instance, Erie offers a discount for safe drivers with a good driving record, and for vehicles equipped with safety equipment like airbags, anti-theft devices, and anti-lock brakes. Erie also offers a multi-policy discount for customers who purchase multiple insurance policies with the company, such as bundling home and auto insurance.
In addition to competitive rates, Erie provides superior financial strength, broad coverage options, and highly-rated customer satisfaction. Erie's Rate Lock feature also helps protect customers from future rate increases, keeping premiums stable even after a claim. However, it's important to note that Erie's insurance is only available in 12 states and Washington, D.C.
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Frequently asked questions
Erie Insurance offers competitive rates that are often lower than the national average. Its rates are cheaper than most top competitors for many driver profiles. For example, its car insurance for 18-year-olds is 38% cheaper than the national average.
Erie's rates for drivers with poor credit are higher than some competitors, but they are still slightly lower than the national average.
Erie's rates for high-risk drivers are higher than average. However, it offers opportunities for teens to find cheap car insurance with good student and driver training discounts.
Your insurance rate can be influenced by your age, location, coverage level, driving record, and credit score. Erie's rates tend to be more competitive for older, more experienced drivers with good credit and clean driving records.
