About Erie Insurance
Erie Insurance, established in 1925, initially focused on car insurance. Over the years, it expanded its offerings to include coverage for autos, motorcycles, boats, recreational vehicles, life insurance, retirement planning, and various business products. Despite not being available nationwide, Erie provides coverage in 12 states and Washington, D.C.
PROS:
- Generous policy premium discounts.
- Replacement cost coverage on standard policies.
- Multiple additional coverage options available.
CONS:
- Not available nationwide.
- No online quotes available.
- Need to purchase a policy through an agent.
Erie Insurance Review
Erie Insurance holds the No. 5 spot on the Best Homeowners Insurance Companies of 2023 rating, with a score of 3.8 out of 5. Their standard homeowners insurance policy offers replacement cost coverage, and policyholders can benefit from up to 25% in potential premium discounts. However, the process involves working with an agent, as online quotes are not available.
Homeowners Insurance Coverage
Erie’s base policy includes:
- Dwelling Coverage: Guaranteed replacement cost for home repair or rebuild.
- Personal Property: Repair or replacement of home contents after a covered loss.
- Other Structures: Repair or replacement of structures not attached to the home.
- Personal Liability: Coverage for injuries or property damage to others.
- Loss of Use: Payment for increased expenses if the home is uninhabitable.
- Valuable Coverage: Increased limits on valuables and reimbursement for gift cards.
Additional Homeowners Insurance Coverages
Erie offers additional options like water backup, identity recovery, service line protection, and various bundled packages to enhance coverage.
How Much Does Erie Homeowners Insurance Cost?
Costs vary based on factors like coverage needs, property details, and eligibility for discounts. Contacting an Erie Insurance representative is the best way to obtain an accurate quote.
Homeowners Insurance Discounts
Erie provides discounts for multi-policy coverage, home protection features, and an advanced quote. Eligibility requirements and potential savings can be discussed with an Erie agent.
How to Buy Erie Homeowners Insurance
Erie homeowners insurance is exclusively sold through agents or by contacting Erie directly. The process involves determining coverage needs, gathering property details, assessing discount eligibility, noting the current coverage expiration, and contacting an agent for a quote.
How to File a Homeowners Insurance Claim with Erie Insurance
To file a claim, follow these steps:
- If the damage involves a crime, contact the police and file a report.
- Call your Erie agent or contact Erie directly for 24/7 customer support to initiate the claims process.
- Document the damage with pictures and create a list of affected items.
- Make temporary repairs and keep receipts.
- A claims agent will contact you to progress the claim, and you can track its status online or through the app.
Erie vs. the Competition:
- Erie vs. USAA: Erie offers higher potential discounts (up to 25%) compared to USAA (up to 10%). USAA is available nationwide, while Erie is limited to 12 states and Washington, D.C.
- Erie vs. Nationwide: Both are tied for the No. 5 spot. Erie provides dwelling and personal property replacement cost coverage, unlike Nationwide. Erie requires agent assistance, whereas Nationwide offers an online quote tool.
FAQ:
- What does Erie’s homeowners insurance not cover?
- Erie’s standard policy does not cover flood or earthquake damage, valuable possessions, home offices, and certain maintenance-related water damage.
- Does Erie’s homeowners insurance cover water damage?
- Burst pipes or failed washing machine hoses may be covered, but not water damage due to maintenance issues. Optional coverage is available for specific water-related incidents.
- Does Erie’s homeowners insurance cover termites and insects?
- Standard coverage excludes termite and insect damage.
- Does Erie’s homeowners insurance cover theft?
- Standard coverage includes theft, but additional coverage may be needed for high-value items.
- Does Erie’s homeowners insurance cover roof leaks?
- Damage from roof leaks is typically covered, but repair costs may vary based on the cause.
- Does Erie’s homeowners insurance cover tree damage?
- Damage from falling trees or branches is typically covered.
- Does Erie’s homeowners insurance cover dog bites?
- Standard coverage includes dog bites, but additional coverage may be advisable based on severity.
- Does Erie’s homeowners insurance cover personal liability?
- Standard coverage includes personal liability, with additional coverage recommended for increased risk scenarios.
- Does Erie’s homeowners insurance cover fire?
- Damage from fires is generally covered under a standard policy.
This comprehensive review aims to provide insights into Erie Insurance’s homeowners insurance offerings, coverage options, and the comparison with competitors.
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