Farmers Insurance And Erie Insurance: Partners Or Competitors?

Farmers Insurance and Erie Insurance are two of the most popular insurance companies in the United States, providing competitively priced policies across large portions of America. Both companies offer auto, commercial, condo, health, home, life, motorcycle, renters, and RV insurance. However, Farmers Insurance is available in 47 states, whereas Erie Insurance is only available in 13 states and Washington, D.C.

Erie Insurance's customer satisfaction ratings

Erie Insurance has received generally positive feedback from its customers, with many praising the company's customer service and affordable prices. The company has also been recognised for its strong commitment to customer service, receiving high ratings for customer satisfaction from organisations such as J.D. Power.

In a customer satisfaction survey conducted by Insure.com, Erie ranked 6th out of the best auto insurance companies for 2023 with 3.2 stars out of 5. The company received high marks in customer service, with 96% of customers reporting that they were satisfied or highly satisfied with Erie overall. Similarly, in a nationwide car insurance satisfaction survey conducted by MarketWatch Guides, Erie Insurance received a rating of 4.4 out of 5 stars.

Erie Insurance has also been praised for its wide range of coverage options, add-ons, and perks. The company's Rate Lock tool, which prevents rates from increasing unless a policy change is made, has been highlighted as a particularly attractive feature. In addition, Erie offers a variety of discounts, including multi-policy, multi-vehicle, and safety feature discounts.

However, some customers have expressed dissatisfaction with Erie Insurance, particularly regarding issues with filing claims and dealing with repair shops. There have also been complaints about the company's limited state availability and lack of a usage-based insurance option.

Farmers Insurance's pricing for high-risk drivers

Farmers Insurance offers a wide range of insurance products, including auto insurance. The company has more than 48,000 independent insurance agents across the country and is available in all 50 states.

The cost of auto insurance with Farmers Insurance depends on several factors, including the driver's history on the road, age, state, and coverage limits. For example, full-coverage insurance from Farmers costs an average of $3,169 or $4,652 per year, while a minimum-coverage policy costs an average of $1,153 or $1,623 per year.

Farmers Insurance is known for its high prices, with rates that are often higher than the national average and its competitors' rates. For instance, Farmers has the highest average costs for good drivers and drivers with a speeding ticket among the companies analysed by Forbes Advisor. Its rates for young drivers, senior drivers, and drivers with poor credit are also significantly higher than the national average and its competitors' rates.

However, Farmers Insurance offers various discounts that can help offset the high costs. These include discounts for good drivers, homeowners, good students, occupational groups (including doctors, nurses, police officers, firefighters, etc.), multi-vehicle policies, and multi-policy bundles.

Farmers Insurance also has a usage-based insurance program called Signal, which tracks driving behaviour through a smartphone app and offers discounts of up to 15% for safe driving. Additionally, drivers under 25 can qualify for an additional "youthful" discount of up to 10%.

Overall, while Farmers Insurance provides a wide range of coverage options and discounts, its pricing for high-risk drivers tends to be higher compared to other insurance companies.

Erie Insurance's mobile app

The Erie Insurance Mobile app is available for iOS and Android. The app allows customers with an Online Account to access important policy information from their mobile device.

• View, download, save, send and share policy documents, including your ID card and declaration page.
• Make payments and view billing activity, including future instalments and billing documents.
• View your claim status.
• Contact your local Erie agent.
• Access the app through a secure login.

The app has received mixed reviews. While some users have praised the app for performing well the functions it offers, others have complained about the lack of some basic features. For example, the app does not support Apple Wallet, which allows users to automatically upload payment information. In addition, users have reported issues with logging in and glitches with the app.

Farmers Insurance's pros and cons

Farmers Insurance is one of the largest insurers in the US, offering a long list of discounts and ways to customise your coverage. Here is a detailed list of pros and cons:

Pros

• Great selection of coverage options and add-ons
• Available in all 50 US states
• Many discount opportunities
• Well-reviewed mobile app

Cons

• Premiums can be high in some states
• Mixed customer service reviews
• Some customer complaints about slow roadside assistance

Erie Insurance's insurance products

Erie Insurance has been in the insurance business since 1925, providing auto, home, business, and life insurance. The company is currently serving 12 states and Washington, D.C.

Auto Insurance

Erie's auto insurance policy is packed with features and is available at a great price. The company covers cars, motorcycles, snowmobiles, RVs, and ATVs. The policy includes collision insurance, liability insurance, and comprehensive car insurance. Erie also offers an umbrella policy that provides extra protection in case of a lawsuit or accident. The company also covers pets travelling in the car, locksmith costs, and personal item coverage.

Home Insurance

Erie's home insurance policy helps protect you if you hurt someone or damage someone's property. It also covers items inside your home from damage, theft, and loss. The insurance covers the home's exterior from weather damage, fire, and other sources of damage. The company also provides additional living expenses if the insured has to live elsewhere while their home is being repaired.

Business Insurance

Erie Insurance provides commercial industry packages with custom solutions. The company covers auto services insurance, breweries, wineries, distilleries insurance, contractors insurance, landlord & property owners insurance, manufacturers insurance, offices & professional services insurance, religious organizations, restaurant insurance, technology insurance, veterinarians & pet care insurance, and wholesalers-distributors insurance.

Life Insurance

Erie Insurance offers term, whole, and universal life insurance policies. The term life insurance is available for 10, 15, 20, and 30-year terms. The company provides up to $500,000 of coverage without a medical exam. Erie's whole life insurance policies also allow adding an accelerated death benefit to help pay for long-term care.

Frequently asked questions