ERIE, Pa., Oct. 12, 2020 /PRNewswire/ -- Whether
shopping for electronics, furniture or a new car, we all love
getting the most bang for our buck – and insurance companies know
drivers are looking for bargains when it comes to their car
insurance. That's why many insurers advertise low monthly rates to
convince customers they're getting a great deal. But in the event
of an accident, that super-cheap auto insurance might leave you
stuck paying out of pocket for car repairs or medical bills.
Erie Insurance helps sort it out with a four ways cheap
auto policies often fall short, and nine ways to save on your
premium without compromising your coverage.
What are the downsides?
- You could pay more out of pocket later. When you're
found at-fault for an accident, you're on the hook to pay for
anything your insurance policy doesn't cover. The cost of repairs,
medical bills or legal fees from a multi-car pileup can get
expensive. Even something simple like a fender bender can
cost thousands of dollars in parts alone.
- You take on more risk. If you run out of cash to
pay what you're responsible for, that could put your savings,
investments or assets like your home or car at risk.
- You get fewer perks. You typically pay a little
extra in premium for features like rental car expense
coverage, emergency roadside service coverage or
a diminishing deductible. But you'll be happy to have those
little extras there when you need them.
- It's less personalized. A good insurance agent can help
tailor your policy with endorsements and other optional add-ons to
be just the right fit for your life. For example, customized
coverage can come in handy when you drive occasionally
for Uber or Lyft.
Ways to save with ERIE:
- Multi-policy discount: If you have multiple
policies with ERIE (such
as homeowners insurance or life insurance), you may
be eligible for multi-policy discounts to save you money.
- Multi-car discount: If we insure two or more
of your cars, you could qualify for a discount. (All the vehicles
in your household must be owned and used by the driver we
insure.)
- Safety savings: You can save on your
insurance coverage if your car is equipped with safety equipment
like factory-installed air bags and anti-lock brakes.
- Young drivers: Unmarried drivers under 21
who reside with their parents may be eligible for additional
savings on their car insurance in most states.
- College student discount: Let us know if you
have a student who doesn't have access to a car while at school and
you could get a discount for the time they aren't driving.
- Vehicle storage: If you're storing a vehicle for at
least 90 consecutive days, take advantage of our reduced usage
discount available in most states.
- First accident forgiveness: Everybody makes
mistakes. That's why ERIE offers
accident forgiveness. If you've been a customer for three or more
years, we'll waive the surcharge the first time you're at fault in
an accident. (Good news: There's no waiting period in North Carolina or with the ERIE Rate Protect policy in New York.)
- ERIE Rate
Lock®: Nobody likes surprises on their bill. Talk
to your agent about ERIE's Rate
Lock® feature. You may be able to freeze your auto premium year
after year, even if you file a claim. Your rates only change if you
add or remove a vehicle or driver, change an address or change the
policy.
- Diminishing deductible: A clean driving
record can go a long way. With ERIE's diminishing deductible option,
available with ERIE Auto
Plus® coverage, each year you don't file a claim, your
deductible will be reduced by $100
(up to a maximum of $500).
Eligibility varies by state, so check with your agent to make sure
you qualify.
At ERIE, we're eager to provide
an insurance experience that's personal, fair and affordable. Learn
more about auto insurance or get a free online auto
quote and get connected with a local ERIE agent in your area.
Erie Insurance Group
According to A.M. Best
Company, Erie Insurance Group, based in Erie,
Pennsylvania, is the
11th largest homeowners insurer and 12th
largest automobile insurer in the United States based on
direct premiums written and the 16th largest
property/casualty insurer in the United States based on
total lines net premium written. The Group, rated A+
(Superior) by A.M. Best Company, has more than 6 million
policies in force and operates in 12 states and the District
of Columbia. Erie Family Life
Insurance Company is rated A (Excellent) by A.M. Best Company. Life
insurance policies not written in New
York state. Erie Insurance Group is a FORTUNE 500
company.
News releases and more information about Erie Insurance
Group are available at www.erieinsurance.com.
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SOURCE Erie Insurance Group