Erie Insurance, also known as Erie Insurance Group, is best known as an insurance company that provides multiple lines of insurance for customers.
They’re best known for providing auto insurance, home insurance, life insurance and commercial insurance. On an interesting note, they provide those personal and commercial insurance services through their own network of independently working insurance agents.
Their insurance network actually extends well across 11 states and the District of Columbia. Those states include the likes of North Carolina, Ohio, Illinois, Indiana, Maryland, Pennsylvania, Tennessee, Virginia, West Virginia, New York and Wisconsin. Despite their presence in over 11 states, they’re one of the smaller well known insurance companies in the country.
How modest in size are Erie Insurance in comparison to other insurance giants? Well, Erie Insurance Group is currently the thirteenth largest auto insurance carrier within the United States. They’re also the nineteenth largest property and casualty insurance provider within the entire country, as well. To provide another interesting note, the insurance company has managed to be listed as one of the U.S. Fortune 500 countries, a distinction that’s held by very few companies in the country.
With over 4 million policies written under their company, Erie Insurance continues to serve people with robust insurance services out of locations across the country and their main location right in Erie, Pennsylvania.
Benefits of Erie Insurance
A lot of people choose Erie Insurance, if they’re in their state, for their vast amount of benefits for insured members. So, what kind of benefits do Erie Insurance offer their customers?
Erie Insurance offers various benefits that correlate with their many personal and commercial insurance packages. Their Additional Payments perk, to provide an example, allows policyholders who have physical damage coverage under them to receive up to $75 per person in travel costs following an accident. They’re also eligible for receiving up to $350 for any personal property losses. They also provide coverage in cases where you may need to call a locksmith service.
They also provide transportation expenses for their auto insurance customers, particularly if you have a comprehensive and collision coverage policy from them. As soon as you experience an accident, Erie Insurance will help cover your transportation expenses following the accident; their coverage options apply to bus fees, taxi fares and car rental fees.
Erie Insurance also provides special coverage for Erie Insurance customers. If you happen to get into a collision with another Erie Insurance customer, to provide another example, Erie Insurance will actually waive the collision deductible resulting from that accident.
Of course, all of Erie Insurance’s benefits and perks are subject to different availabilities across different states. If you’re curious about whether your Erie Insurance location does provide those aforementioned benefits, it’s advised to contact them to get more information.
Advertising and logo
There’s a secret behind Erie Insurance’s advertising. That secret is that the company hasn’t dedicated a large amount of their resources to a national advertising campaign. Throughout most of its history, in fact, the company hasn’t done much advertising at all, instead only relying on their independent agents, and, to a lesser extent, their customers to spread good will about the company via word of mouth.
They did, however, take a step toward advertising their insurance services in 2011, where they started an advertising campaign simply known as ‘Seriously Good.’ The advertisement campaign focused on raising the overall awareness of the Erie Insurance brand, taking a more serious approach to insurance advertising among the rather humorous take on insurance advertising that rules the airwaves today.
As noted by a Milwaukee Journal Sentinel article, one of Erie Insurance’s advertisement slogans commented on the discrepancy between funny insurance ads and the reality of insurance. It read,
‘Funny ads are great. Until you have a claim.’ Erie Insurance also made efforts in securing naming rights to the former Tullio Arena in downtown Erie, Pennsylvania. The arena, who had its naming rights purchased in May 2012, was later renamed to the Erie Insurance Arena.
A lot of Erie Insurance’s marketing can be attributed to their network of insurance agents, a network that hosts more than 2,000 independent Erie Insurance affiliated insurance agencies. All of those agencies employ well over 10,000 licensed agents. All of those independent agents help make promoting and presenting Erie Insurance look easy, especially since the company continually presents itself as a ‘serious alternative’ for personal and commercial insurance.
The logo of Erie Insurance is rather simple in design. The logo mainly features ‘Erie Insurance’ in thin black letters, ‘Erie’ on the top line and ‘Insurance’ on the bottom line. A blue rectangular box with a stylized building, presumably a local Erie building, sits to the left of the Erie Insurance name.
History of Erie Insurance
Erie Insurance first got its start in 1925, a time when founder H.O. Hirt founded the company, basing the company’s headquarters in Erie, Pennsylvania. Naturally, the company still resides within Erie today. Hirt’s positive business attitude was immortalized in the form of a plaque that simply hosted the word, ‘think.’
That same plaque was often found in his own office, promoting the positive attitude of both smart and innovative business management that has helped Erie Insurance become one of the best personal and commercial insurance companies for customers today.
In 1925, the Pennsylvania Insurance Department had issued a license to the newly founded Erie Insurance Exchange, allowing them to primarily operate as an automobile insurer. They started operations in April of that year.
By 1928, Erie Insurance were able to open their first office outside of Erie, Pennsylvania, right in Pittsburgh. The year 1953 was when they were able to expand their company’s services outside Pennsylvania, opening a branch in Silver Spring, Maryland.
1968 was the year where they founded the Family Life Insurance Company. Their expansion as a company continued when they were listed on NASDAQ as ‘ERIE’ for the first time in 1995; the following year, Erie Insurance was able to expand their services to the web by launching their official website. And, all of that lead to their debut on the Fortune 500 in 2003.
Erie Insurance continues to grow their services despite their lack of advertising. With a modest advertising push in the current decade, Erie Insurance looks to see even more growth within the next few years.
Services at Erie Insurance
Erie Insurance, as mentioned, provides a good selection of personal and commercial insurance products for a wide variety of customers.
Something unique about Erie Insurance is that they have high customer retention ratings, scoring in the high 90s in various publications who have reviewed their customer service by consulting customers of their services. Erie Insurance, according to those polls, have a lot of content customers that are completely satisfied by the customer service, affordable insurance policy premiums and the claims provided by them.
Erie Insurance notably provide a ‘perk’ that many customers do like, known as their ERIE Rate Lock. This particular feature holds a customer’s insurance rate ‘steady’ until they change a driver, vehicle or even their home address, allowing customers to always maintain a relatively low rate on their auto insurance.
Naturally, Erie Insurance provides various insurance products, including that of auto insurance, life insurance and various commercial insurance services. Their auto insurance policy provide coverage for liabilities, medical expenses, underinsured/uninsured motorists, collision and comprehensive coverage, complete with features and bonus discounts for them to use to their advantage.