Erie Company Insurance Review 2023: Great Customer Satisfaction, but Limited Availability

A photo to accompany a review of Erie Insurance Illustration/NextAdvisor
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Erie Insurance, in operation since 1925, boasts a customer retention rate of above 90% year over year. It offers home, life, and auto insurance. However, Erie Insurance is only offered in 12 states, plus Washington DC, so its geographic reach is limited. 

Erie Company Auto Insurance 

Erie Insurance offers several types of auto insurance coverage, including coverage other providers tend to charge extra for, if they’re offered at all, such as rideshare coverage or first accident forgiveness. There’s a caveat, though: not all types of coverage are offered in every state where Erie operates. North Carolina and Kentucky tend to have fewer coverage options. 

Types of Coverage 

  • Comprehensive coverage
  • Physical damage coverage
  • Collision insurance
  • Liability insurance
  • Transportation expense/rental car coverage
  • Roadside service
  • New car protection
  • Better car protection
  • Rideshare coverage
  • Pet coverage 

Cost of Erie Company Auto Insurance 

The average annual premium for Erie car insurance is $1,233 per year or $100 per month, which is over $400 lower than the average premium of $1,674, according to Bankrate. 

Erie Company Auto Insurance Discounts 

  • Rate lock – This discount, available in some states, freezes your premium. The price remains the same even if you file a claim, except when you add or remove vehicles or drivers or if you move your residential address.
  • Multi-policy discount – Save 16 to 25 percent if you bundle home or life insurance with auto insurance coverage, or if you insure multiple cars.
  • First accident forgiveness – Depending on how long you’ve been a policyholder, your first accident won’t increase your rates. 
  • Diminishing deductible – Eligible drivers can reduce their deductible by $100 for every year they don’t file a claim, up to a maximum of $500. 
  • Vehicle storage – If you’re keeping your car off the road for 90 days or more, you can get a discount for reduced usage. 
  • Safety savings – If your car has safety features like anti-lock brakes, you can save money. 
  • Payment discounts – There are discounts available for customers who pay the premium up front in full. 
  • Driver training discount – Drivers under 21 who’ve taken a driver training course can save. 
  • Youthful driver discounts – Parents or guardians can get discounts for unmarried young drivers.

Erie Company Home Insurance 

In addition to homeowners’ insurance coverage, Eric Insurance offers renters insurance, condo insurance, and mobile home insurance. What sets the insurer apart from others is the way it covers claims. Instead of cash value, which covers your home up to its assessed cash value, Erie Insurance policies use a guaranteed replacement cost. Guaranteed replacement means that Erie “will pay you for the full cost of rebuilding your house back to its previous size and specifications,” says Fran Majidi of SmartFinancial Insurance, an insurance technology company. Assessed cash value won’t always cover the true cost of rebuilding, so this is more generous. 

Types of Coverage 

Home insurance coverage includes:

  • Liability
  • Personal property
  • Home structure

There’s also the option to add extra coverage areas, like: 

  • Personal liability 
  • Water backup and sump pump overflow
  • Identity recovery 
  • Service and utility line protection 

Cost of Erie Company Home Insurance 

On average, Erie’s homeowners insurance premiums cost $897 per year or $75 per month for a home valued at $250,000. This is lower than the national average of $1,312, according to Bankrate

Erie Company Home Insurance Discounts 

  • Safe home credit – If you install safe home devices, such as fire alarms or burglar alarms, you can save money. 
  • Advanced quote discount – Shopping for homeowners insurance one week to 60 days before your policy expires will save you. 
  • Multi-policy discount – If you have both home and auto insurance with Erie, you can get a price break by purchasing their life insurance, too. 

Erie Company Life Insurance 

Erie Insurance offers four types of life insurance: term life, whole life, universal life, and a streamlined policy they call ERIExpress Life, which does not require a medical exam. 

Types of Coverage

  • Term life insurance: Fixed payments following your death for a set period of time; this policy is valid for a set term, like 10, 20, or 30 years, rather than your whole life.
  • Whole life insurance: Guaranteed cash value for your entire life with fixed premium payments. 
  • Universal life insurance: Coverage that lasts your entire life with a flexible payment structure.  
  • ERIExpress Life insurance: Coverage between $10,000 and $500,000 with a fast application that doesn’t require a medical exam; you’ll still need to answer questions about your medical history in the application.

Cost of Erie Company Life Insurance 

While shopping for life insurance quotes is individual, sample policy quotes for two Erie policies can give you an idea of potential rates. NextAdvisor requested a quote for a healthy, 35-year-old woman who doesn’t smoke living in Columbus, Ohio. For this individual, a 30-year term policy paying $100,000 on death would cost $243 per year or $20.24 per month. 

Erie Company Life Insurance Discounts 

Erie doesn’t specify any life insurance discounts. 

Erie Company Insurance Ratings

Independent agencies rate insurance companies on metrics like financial stability and customer satisfaction. A.M. Best gives Erie Insurance a financial strength rating of A+. This rating means the company will be able to cover claims from its customers without assuming a financial burden. NAIC (National Association of Insurance Commissioners) gives Erie Insurance a customer complaint score of 1.10, where the average score is 1. This means that Erie Insurance receives a pretty average number of complaints. In 2020, there were 35 complaints for Erie’s homeowner insurance and 30 complaints for auto insurance. 

Erie Company Auto Insurance 

J.D. Power: 880 (out of 1,000) Industry Average: 872

NAIC: 1.10

A.M. Best: A+ (stable)

Erie Company Home Insurance 

J.D. Power: 885 (out of 1,000) Industry Average: 881

NAIC: 1.10

A.M. Best: A+ (stable)

Erie Company Life Insurance 

J.D. Power: Not rated (out of 1,000) Industry Average: 763

NAIC: 1.10

A.M. Best: A+ (stable)

Erie Company Pros and Cons

Majidi says that Erie is “easily one of the most affordable companies for teen and college-aged drivers” because it offers “discounts of up to 20 percent for drivers who live at home and are under 21, for each year they spend under the same policy, for taking a driving class, and even for participating in the company’s competitive program that offers prizes to students who are the most engaged with safe driving.” 

While Erie does offer generous auto discounts that make policies seem affordable, “their costs can be expensive compared to other insurance companies,” says Shawn Plummer, CEO of The Annuity Expert and Director of Advanced Annuity and Insurance Sales, which represents more than 50 insurance companies. Customers who want online service won’t be happy with Erie, as Plummer points out: you can’t shop for coverage or file claims through the website; instead, you’ve got to call the company.  


  • One-stop shopping: Since the insurer offers home, auto, life, and several other policies, you can get all your coverage needs met from one provider

  • Good ratings: Both the customer satisfaction and financial stability ratings are strong, meaning you’re likely to have a good experience as an Erie customer

  • Generous home insurance coverage: Erie’s use of guaranteed replacement cost for homeowners insurance tends to be more generous than cash value policies


  • Lack of online service: Erie relies on physical agents, so you can’t file a claim or obtain a policy quote online

  • Limited coverage: Coverage options vary based on where you live, so in some states, you might not be eligible for the features that most appeal to you

  • Policies can be expensive: Certain policy premiums may be higher than what you’d pay elsewhere, which is why it pays to shop around

Other Policies Offered by Erie Company  

  • Motorcycle insurance
  • Classic car insurance
  • Boat insurance 
  • RV and mobile home insurance
  • ATV/snowmobile/golf cart  insurance
  • Renters insurance
  • Condo insurance
  • Flood insurance 
  • Personal valuables insurance 
  • Identity theft recovery coverage
  • Personal catastrophe liability coverage
  • Retirement insurance
  • Medicare coverage
  • Long-term care insurance 
  • Business insurance
  • Wholesaler-distributors insurance 
  • Restaurant insurance
  • Risk control services
  • Workers’ compensation 

Bottom Line

While Erie Insurance offers a lot of policies, its limited coverage areas mean that many people can’t consider the insurer, even if they like their policies. If you happen to live in coverage areas, the insurer scores well for customer satisfaction and financial stability. 

Frequently Asked Questions 

What states are covered by Erie insurance?

Currently, Erie insurance covers these 12 states, plus Washington DC:

  • Illinois
  • Indiana
  • Kentucky
  • Maryland
  • New York
  • North Carolina
  • Ohio
  • Pennsylvania
  • Tennessee
  • Virginia
  • West Virginia
  • Wisconsin

Does Erie Insurance charge a cancellation fee?

No, Erie does not charge a cancelation fee.

How is Erie Insurance rated?

AM Best gives Erie Insurance a financial strength rating of A+, which is stable.