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All Posts in Category: Erie Insurance Company

Erie - COVID-19

8 Things ERIE is Doing During COVID-19

When Erie Insurance opened for business in 1925, our co-founder H.O. Hirt inspired us with his motto: Never lose the human touch.

Well… these days, the “human touch” looks a lot different. But that spirit is still alive in us at ERIE, where we’re still here for you and the communities we serve.

Check our COVID-19 Information Center for the latest news and announcements. For questions about your specific policy, review our COVID-19 Frequently Asked Questions.

In case you missed it: Here’s a recap of what we’re doing to help.

HOW IS ERIE INSURANCE HELPING CUSTOMERS DURING THE CORONAVIRUS?

We’re providing financial relief, flexible payment options, community support and more. Here’s what to know.

  1. Customer dividends, mailed directly to you in May: Most people are doing the right thing by staying home and not driving. We’re following suit by doing the right thing, too. ERIE is providing $200 million in dividends directly to our personal and commercial auto insurance customers, pending regulatory approval. This immediate relief represents about 30% of related auto insurance premiums over a two-month period, or 5% of your annual premium. There’s no need to call your ERIE agent or request a check – it will be mailed directly to you. Learn more about our customer dividends, announced April 21, 2020.
  2. Lower auto insurance rates for long-term relief: In addition to the dividends mentioned above, we’re lowering auto insurance rates for personal and commercial customers for long-term, steady and stable relief. Pending regulatory approval, rate reductions will vary by state and will be based on individually purchased policies and coverage options. Once approved, premium adjustments will take effect at the time of renewal and the estimated total will provide an additional $200 million in financial relief to ERIE customers. Learn more about our rate reductions, announced April 9, 2020.
  3. Flexible payment and billing options: Your local agent can help you with updating coverages. Agents and ERIE’s Customer Care teams may also be able to assist with delaying payment dates, adjusting installments, changing pay plans and waiving penalties and fees. In addition, some billing requests including deferring payments and nonpay cancellations can also be requested through erieinsurance.com/help or through your ERIE Online Account.
  4. Contact-free life insurance coverage: For a limited time, Erie Family Life is offering applicants a path to life insurance coverage without the requirement of a paramedical exam. The option to waive the exam is aligned with the Centers for Disease Control and Prevention guidance to maintain social distancing and prevent the spread of COVID-19. The waiver provides Erie Insurance customers the ability to obtain life insurance without in-person interaction. The offer is available for applicants up to age 55 and policy face amounts up to $500,000. Learn more about the paramedical exam waiver, announced March 24, 2020.
  5. Expanding identity recovery services to extended family members living elsewhere: Social distancing directives result in many people staying connected virtually, which may result in increased exposure to cybercrime. ERIE offers identity recovery coverage with all ErieSecure Home® bundles and as an add-on to our Home Protector policies. Through August 2020, we’re extending support services to assist in recovering from a possible identity theft at no additional cost to include our customers’ extended family members, including those not residing with the policyholder. This includes:
    • Adult children (26 or older), their spouse and their children
    • Parents, including stepparents and legally adoptive parents
    • Siblings, including step-siblings and adoptive siblings
  6. Gift card reimbursement coverage: From your favorite lunch spot to that funky art gallery, our local small businesses make our hometowns feel like home. We rely on them daily – and now, they need us. So go ahead and stock up on gift cards, worry-free. Pending regulatory approval in several states, Erie Insurance is adding gift card and gift certificate reimbursement coverage to the company’s ErieSecure Home® policies. The additional feature, included at no additional cost, would reimburse customers for remaining balances on gift cards that can no longer be used at independently owned and operated local businesses due to business closures.Learn more about our gift card coverage, announced April 16, 2020.
  7. Giving back to our hometown: Erie Insurance provided a lead gift to support the Erie Community Foundation’s new COVID-19 Rapid Response Fund recently established in our home city of Erie, Pennsylvania. This fund will directly support 501(c)(3) organizations in Erie County, Pennsylvania that are providing support to those in need, administering care for children, serving elderly populations who are most vulnerable and helping those suffering hardships and job loss due to the COVID-19 pandemic.
  8. Giving back to our agents and all the communities we serve: Our agents and employees are stepping up to thank first responders, healthcare workers and others on the front lines. To boost that, we’re making nearly $2.5 million available to agents and branch offices to support their charitable work in local communities.

For 95 years, we’ve been standing by our customers in times of hardship and catastrophe. These times are unprecedented, but our mission hasn’t changed. From 1925 to today, our mission to “do the right thing” still drives every decision we make.

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ERIE broadens relief package to Customers

Erie Insurance CompanyDear ERIE Customer,

This pandemic has significantly impacted all of our lives. At Erie Insurance, we continue to consider what we can do to make a difference for our Customers and communities. Most of you aren’t driving; you’re staying at home doing the right thing to protect yourselves and your neighbors.

That’s why we’re announcing that we will provide $200 million in dividends directly to personal and commercial auto insurance Customers in our 12 states and the District of Columbia. This immediate relief represents about 30 percent of your monthly auto insurance premium for a two-month period or 5 percent of your annual premium.

You can calculate your dividend using this simple equation: Annual premium as of April 1, 2020, multiplied by .30 / divided by 6. You can find your annual premium on your most recent auto insurance declarations page. For personal auto insurance Customers, you can access your declarations page through your Online Account at View Policy Details.

Pending regulatory approval, you should receive a check from us in mid-May 2020. There is no need for you to call ERIE or your Agent to request the payment. Checks will be mailed directly to Customers with auto insurance policies in force as of April 1, 2020.

This announcement is in addition to the $200 million in rate reductions we announced earlier this month, pending regulatory approval. Together these efforts provide a combined $400 million in immediate relief and longer-term rate reductions for ERIE auto insurance Customers.

We recognize that many of our Agents and Employees have been doing great charitable works in their local communities. They’re feeding first responders and healthcare workers, purchasing gift cards from restaurants and retailers to thank those on the front lines and so much more. In support of their efforts, ERIE is also giving nearly $2.5 million to our Agents and branch offices to help further their generosity. Among many other initiatives, we’re also funding the COVID-19 Rapid Response Fund that supports critical non-profits right here in our hometown of Erie, Pennsylvania.

For 95 years, we’ve been doing the right thing by our Customers. During these unprecedented and uncertain times, please know you can call us and your Agent to help with issues related to payment, billing and changes in coverage. We stand by our Customers in times of hardship and catastrophe. It’s who we’ve been since 1925 — a company that’s always there for you — always aiming to be Above All in Service®.

If you have questions about ERIE’s Customer relief package, visit erieinsurance.com/support-center/COVID-19.

Sincerely,

Tim NeCastro
Chief Executive Officer
Erie Insurance

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Duane Long - Monte Long

Erie – Customer Pandemic Relief

Erie Business Insurance

Erie Business Insurance

Dear Valued Customer,

After careful consideration, ERIE has decided to lower personal and commercial auto rates in order to provide additional relief to our Customers. We estimate the total rate reduction impact to be approximately $200 million throughout the 12 states and District of Columbia where ERIE operates.

While ERIE’s pricing philosophy has always centered on providing exceptional protection and service at the lowest possible cost, lowering rates during this challenging time is simply the right thing to do. Pending regulatory approval, rate changes will vary by state and will be based on individually purchased policies and coverage options. Once approved, premium adjustments will take effect at the time of renewal.

The rate reductions announced today are in addition to the relief ERIE is already providing to thousands of Customers, including individualized payment flexibility, paramedical exam waivers for life insurance applicants and philanthropic support to COVID-19 rapid response funds across our communities.

Flexible Payment and Billing Options
ERIE understands that each Customer’s situation is unique, and we continue to offer flexibility to Customers facing hardship.

ERIE Agents can help Customers with updating coverages. Agents and ERIE’s Customer Care teams can also assist with delaying payment dates, adjusting installments, changing pay plans and waiving penalties and fees. Customer Care can be reached at (800) 458-0811 with questions or to discuss these options.

Customers can also access their personal lines and life policies, view current and previous invoices, pay their bill and monitor a claim through Online Account.

Making Life Insurance Attainable
For a limited time, Erie Family Life is offering applicants a path to life insurance coverage without the requirement of a paramedical exam. The option to waive the exam is aligned with the Centers for Disease Control and Prevention guidance to maintain social distancing and prevent the spread of COVID-19. The waiver provides Erie Insurance Customers the ability to obtain life insurance without in-person interaction. The offer is available for Customers up to age 55 and policy face amounts up to $500,000.

Gift Card and Gift Certificate Reimbursement Coverage
Pending regulatory approval in several states, Erie Insurance is adding gift card and gift certificate reimbursement coverage to the company’s ErieSecure Home® policies. The additional feature, included at no additional cost, would reimburse Customers for remaining balances on gift cards that can no longer be used at independently owned and operated local businesses due to business closures. There is no requirement that the business be insured by ERIE. While the additional protection was introduced to help promote buying new gift cards to help small businesses with their cash flows while they are closed, it is not a temporary addition and will become part of ERIE’s base ErieSecure Home policies.

Support for Community COVID-19 Relief Efforts
Erie Insurance provided a lead gift to support a new COVID-19 Rapid Response Fund recently established in Erie, Pennsylvania. The COVID-19 Rapid Response Fund will directly support 501(c)(3) organizations in Erie County, Pennsylvania—the location of our headquarters—that are providing support to those in need, administering care for children, serving elderly populations who are most vulnerable and helping those suffering hardships and job loss due to the COVID-19 pandemic. ERIE is also supporting our Agents in their philanthropic efforts across our footprint.

During these unprecedented times, we stand ready to provide the best service possible for you and all our Customers. Thank you for putting your trust in us.

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JD Power 2019

ERIE Earns Top Ranking in J.D. Power Shopping Study

The results are in: Thousands of people shared their experiences about shopping for auto insurance in a national study, and Erie Insurance was awarded “Highest Satisfaction with the Auto Insurance Purchase Experience.”

Erie Insurance earned the highest score among auto insurers in providing a satisfying purchase experience in 2019, with a score of 917 on a 1,000-point scale. The industry average was 852.

ERIE has ranked highest in the study consecutively since 2013.

JD Power 2019

“This recognition speaks directly to the importance of an insurance agent in the shopping experience. The guidance, insight and personal attention ERIE agents give to their customers is not something that can be replicated online,” said Tim NeCastro, president and CEO of Erie Insurance. “To receive this distinction for the seventh consecutive year is a tremendous honor.”

The U.S. Insurance Shopping Study measures auto insurance shopping, purchase behavior and purchase experience satisfaction among customers who recently purchased insurance. Satisfaction is measured on three factors (in order of importance):

THE STUDY METHODOLOGY

The J.D. Power 2019 U.S. Insurance Shopping Study SM provides an in-depth look at the auto insurance policy selection process. It explores why customers shop, their attitudes toward and perceptions of auto insurance brands and how they make their final purchase decision.

The study is based on responses from more than 14,400 insurance customers who requested an auto insurance price quote from at least one competitive insurer in the past nine months and includes more than 38,800 unique customer evaluations of insurers. The study was fielded in April, July and October 2018 and January 2019.

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Lost Insurance Policy

Lost Life Insurance Policy

It’s estimated that $1 billion in benefits from forgotten and lost life insurance policies are sitting unclaimed in America, says Consumer Reports. Could you be among the estimated 1 in 600 people who may be the beneficiary of an unclaimed life insurance policy?

If so, there are ways to find out. Here are some tips to help.

5 WAYS TO LOCATE A LOST LIFE INSURANCE POLICY

  • Comb the house. Sometimes the thing we’re missing is right under our nose. First, go through any files or safe deposit boxes where the lost life insurance policy may be before launching a full-fledged investigation.
  • Think back to the beginning. Which insurance agent may have sold it? Which insurance company may have issued it? What was the name and Social Security number of the person who bought it? Was the policy a term or permanent life policy? Any information you can remember will help the insurance agent and/or customer representative you contact.

    Related: What’s the Difference Between Term and Whole Life Insurance?

    You might also have to contact any attorneys, financial advisers, accountants or other advisers who might have had something to do with issuing the policy.

    Also consider contacting the deceased individual’s former employer. Many times the policies are group policies that were originally taken out through an employer.

    If the policyholder passed away relatively recently and you have the authority or permission, take a look at the deceased person’s bank statements for premium payments or policy-related material.

  • Contact your state’s insurance department. Generally, an insurance company that is unable to locate a policy’s beneficiary is required to turn over the benefits to the state’s unclaimed property office after a certain number of years have passed. Think about the state in which the policy could have been issued. Then visit the National Association of Insurance Commissioners website to learn how to contact your state insurance department.
  • Look it up online. The National Association of Insurance Commissioners (NAIC) has a free website that makes it easy to search a number of life insurance and annuity companies at once. You can run a search if you’re the executor or legal representative of a deceased person, or if you have reason to believe you’re a beneficiary.

    Submit a request or read the FAQ at the Life Insurance Policy Locator Service website. You can also check in with the National Association of Unclaimed Property Administrators, which operates the website MissingMoney.com.

  • Watch out for scammers. There are life insurance scams out there whereby an “insurer” promises to reunite you with unclaimed funds. Don’t immediately respond to someone claiming to be the representative of an insurance company. Instead, call that insurance company’s claims number to see if the offer is legit.

HOW TO PREVENT A LOST LIFE INSURANCE POLICY IN THE FIRST PLACE

Life insurance is a powerful agent of relief. Taking care of the future needs of your loved ones makes you feel capable, purposeful and satisfied.

Spare yourself and your beneficiaries from the hassle caused by a lost life insurance policy by following this advice:

  • Clearly name your beneficiaries on the policy.
  • Let your beneficiaries know about the policy. Also tell them the name of the insurance agent and company that issued the policy.
  • Keep your insurance documents in a safe, logical place like a fireproof safe or bank safe. Not sure what kind of safe to buy? Read our guide to safe storage of important documents.

When you count on ERIE to help plan for the future, we’ll help you consider the variables, lay out the options and make the process comfortable and efficient.

Learn more about our flexible and affordable life insurance* options, or find a local ERIE agent to talk it through in person.

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