Erie Insurance Review

Yes, Erie insurance rates are competitive for certain drivers, including college students, and drivers with a teenage driver in the family. Erie car insurance customers pay an average of $1,123 per year, which is more than the national average of $671 per year.

Erie's car insurance rates are based on your driving record and experience, along with factors like the type of car you drive, your ZIP code, your insurance history, and more. Your coverage and deductible choices also impact your final quote, as does your eligibility for discounts.

Erie Car Insurance Rates vs. Popular Competitors

Note: Rates are an approximation based on a 45-year-old driver in New York. Actual rates will vary. For more information, check out the methodology section of our Erie car insurance review. 

Other Factors That Make Erie Insurance Competitive

• Erie offers 9 auto insurance discounts.
• Erie offers 22 different types of insurance.
• Erie customer service representatives are available Monday-Friday 8 am - 11 pm, and Saturday 9 am - 4:30 pm EST.

To learn more, read WalletHub's complete review of Erie.         

Erie is rated 3.2 out of 5 by WalletHub's editors, based on factors such as customer reviews and watchdog-group ratings. For example, Erie has a rating of 1.1 from he National Association of Insurance Commissioners (NAIC), meaning it has more customer complaints than the average insurer its size.

Erie Insurance Ratings

• WalletHub Editors: 3.2
• A.M. Best: A+
• J.D. Power: 4.3
• NAIC: 1.1
• BBB: A+
• Average User Rating on WalletHub: 3.5/5

To learn more, check out WalletHub's complete Erie car insurance review.

Erie is cheap for drivers who have full coverage policies. Drivers can also save even more with Erie by taking advantage of discounts for things like having multiple policies from Erie or for having a vehicle equipped with safety features. Erie is not one of the cheapest car insurance companies overall, though, and young drivers specifically may find cheaper rates elsewhere.

Average Rates for Erie Car Insurance vs. Top Competitors

Note: Premiums are representative of a full coverage in NY; individual premiums will vary.

Erie may not be one of the cheapest car insurance companies for most drivers, but it does offer a variety of discounts, like discounts for taking a driver training course or for paying your policy in full. Plus, Erie rewards customer loyalty with discounts for insuring more than one car and bundling multiple policies, such as home and auto. 

Your final premium is based on a variety of factors, though, such as your driving record, insurance history, and more. Every insurance company determines their rates differently, so the best way to find a good deal is to compare quotes from multiple insurers and take advantage of every discount.

To learn more, check out WalletHub's review of Erie and see Erie's full profile.

To file a complaint about Erie, go online and submit your issue to the Better Business Bureau as well as your state's insurance regulator, then write a review of Erie on WalletHub. This will either allow Erie to fix their mistake or it will warn other consumers of potential problems with Erie's service.

How to File a Complaint About Erie

1. File a complaint with the Better Business Bureau (BBB). Use the Bureau's online claim submission process to file your claim. The Better Business Bureau forwards complaints within two days, and customers will be notified of any response from Erie or if they fail to respond.
2. Submit a formal complain to your state's insurance regulator. Click here to find the database of the state insurance departments. Select your state and complete the online consumer complaint form.
3. Write a review on WalletHub. Erie customers can voice their opinion by going to Erie's profile on WalletHub and clicking “Write a Review.” At the very least, this will help other consumers thinking about doing business with the company.

What You Need to File a Complaint About Erie With Regulators

• Your name, address, and phone number
• The name of any specific agent/broker
• Your policy number
• Any relevant claim number
• The details of your complaint/concern

So, if you're disappointed with any element of Erie's service, you can rest easy knowing that you have several options for filing a complaint.

The main Erie NAIC number is 26263. Erie's NAIC number is the five-digit code given by the National Association of Insurance Commissioners (NAIC), which assigns numbers to authorized insurance providers in order to track customer complaints and ethics violations across state lines.

With Erie's NAIC number, anyone can learn more about the company's financial data, the kinds of complaints that have been filed by customers, and any enforcement actions taken against the company. Customers will need Erie's NAIC number to report fraud or file an insurance claim, as well.

Although the main Erie NAIC number is 26263, the NAIC has assigned a separate code for each of Erie's affiliate companies, which are listed below. You can find the number that applies to your particular policy on your Erie insurance card.

Erie NAIC Numbers

Erie's NAIC number is not the same thing as the three-digit code assigned by each state's department of motor vehicles. These numbers, issued by state insurance commissioners, are given to the companies that have been authorized to sell insurance policies in a particular state. However, they are not standardized across state lines, like NAIC numbers are.

Yes, Erie has a grace period of 30 days for payments. During the grace period, policyholders can pay their past-due premium in order to avoid a lapse in coverage. If the grace period ends without the necessary payment being made, Erie will cancel the policy. Even if the policyholder pays the balance within the grace period, Erie will still charge them $10.

If you miss a car insurance payment, Erie will usually send you a notice of cancellation that includes the final date that they will accept payment before your coverage lapses. Since almost every state requires you to have car insurance, a lapse in coverage could lead to serious consequences, including fines and even a license suspension if you're caught driving. Additionally, going without insurance designates you as a high-risk driver and can make car insurance more expensive in the future, so it's important that you pay your car insurance premium prior to the final cancellation date.

Erie insurance rates go up by an average of 50% after an accident. Drivers who have Erie accident forgiveness will not see their car insurance rates go up at all after their first accident in 3 years, however. Even if the accident can't be forgiven, it will only affect your insurance rate for 3-5 years, depending on your state.

The exact amount that premiums go up after an accident depends on a few factors, including who was at fault, how much damage was caused, and the policyholder's driving and claims history. In general, at-fault accidents or severe accidents that lead to expensive insurance claims increase rates more than minor or not-at-fault wrecks. Repeat offenders also see relatively large rate hikes.

To learn more, check out WalletHub's complete review of Erie car insurance, as well as our guide to accident forgiveness.

Erie is owned by its shareholders, as it is a publicly traded company. The biggest shareholders are PNC Financial Services Group, The Vanguard Group, and BlackRock which have a combined ownership stake of almost 20%, according to public records, as of Q1 2020.

Erie was founded in 1925 and it has been completely public since 1933. For more information, check out WalletHub's full Erie review.

To cancel Erie insurance, the policyholder must contact their agent directly or call customer service at 1 (800) 458-0811. The cancellation can be arranged for a future date or set to take effect immediately. You will need your name, policy number, and the date you want your policy to end.

• Cancel by phone by calling 1 (800) 458-0811.
• Cancel by mail by writing a letter that includes your name, policy number, and the date you want your policy to end. Sign, date, and mail your letter to: Erie Insurance Group / 100 Erie Insurance Place / Erie, PA 16530.
• You cannot cancel an Erie Insurance policy online.

If you've already paid your premium for the policy period in full, Erie will refund the unused portion. Erie does not charge a cancellation fee or impose a penalty for early termination.

It's important to remember that you don't need to cancel your policy just because you're going through some life changes. For example, you should have Erie update your mailing address or vehicle information if you're moving or buying a new car.

If you're canceling your current policy in order to switch to another company, be sure to activate your new policy before canceling the old one. This prevents a lapse in coverage, which would lead to higher premiums in the future.

Erie is so expensive because of agent commissions and rising costs overall for insurance companies. At $1,123 per year per year, the average Erie car insurance policy is a lot more expensive than the national average of $671 per yearfor a policy with minimum coverage.

Erie insurance is even more expensive for drivers with certain characteristics, including young drivers and drivers who have recently caused an accident. For example, teenagers pay an average of $5,110 per year for Erie insurance, compared to $1,123 per year for older drivers. Additionally, drivers who have recently had an at-fault accident pay an average of $1,685 per year for Erie coverage, which is 50% more than drivers with a clean record.

Factors That Can Make Erie Insurance More Expensive

• Commissions for agents
• Rising costs overall for insurance companies
• Being a young or inexperienced driver
• Purchasing a full coverage policy versus minimum coverage
• Causing an accident or being convicted of a moving violation
• Living in a high-risk ZIP code
• Driving an expensive vehicle
• Having a poor credit-based insurance score

If you're struggling to afford your Erie policy, there are ways for you to lower your rate. For example, you can take advantage of Erie discounts or reduce your coverage. In some cases, it might be better to switch insurers altogether. It's usually a good idea to compare quotes from at least three different insurers to see if you can find a better deal elsewhere. Each insurer uses its own algorithm to calculate premiums, so even if Erie is charging you a high premium, you may be able to find a cheaper policy with another insurer.

To learn more, check out WalletHub's Erie insurance review.