Erie Home Insurance Review 2024

Erie made our list of best home insurance companies. Here’s how Erie stacks up to other top competitors evaluated by Forbes Advisor for home insurance rates.

Home insurance company	Annual average cost for $350,000 coverage	Dollar difference from national average of $1,678
Progressive	$729	-$949
Nationwide	$1,157	-$521
Erie	$1,256	-$422
USAA*	$1,270	-$408
State Farm	$1,298	-$380
Allstate	$1,395	-$283
Auto-Owners	$1,525	-$153
Chubb	$1,810	+$132
Farmers	$2,035	+$357
Country Financial	$2,065	+$387
Travelers	$3,220	+1,542

Source: Quadrant Information Services. *USAA home insurance is available only to the military, veterans and their families.

See MoreSee Less

Founded in 1925, Erie Insurance works with more than 13,000 independent agents. The company is ranked number 414 on the Fortune 500 list for 2023. Erie Insurance is the 11th largest home insurance company in the nation.

Erie’s homeowners insurance has the typical coverage types that you would find in a standard home insurance policy:

• Dwelling coverage pays to replace or repair damage to your home and its attached structures, like a deck.
• Other structures coverage pays to replace or repair damage to structures that are not attached to your home, like a shed or gazebo.
• Personal property coverage covers your personal belongings from problems like fire and theft.
• Liability insurance pays for property damage to others and medical expenses if someone is hurt on your property. It also pays for a legal defense if you are sued because of an accident.
• Additional living expenses coverage pays for expenses like meals, hotel bills and laundry services if you cannot live in your home because of a problem covered by your policy, like a fire.
• Medical payments coverage pays medical bills of people who blame you for accidental injuries, without regard to fault. Coverage is typically in small amounts, including $1,000 to $5,000.

Erie Insurance sells home insurance, condo insurance, renters insurance and mobile home insurance.

Need more liability protection than your home insurance can provide? Erie Insurance sells an umbrella insurance policy that will kick in if your home insurance liability limits are exhausted.

Policy add-ons are available from Erie Insurance, including:

• Expanded liability coverage for watercraft and criminal defense cost reimbursement.
• Identity recovery pays for expenses to help you fix identity theft or fraud.
• Service line protection pays for repairs to underground utility and service lines that run from your house to the curb.
• Water backup and sump pump overflow covers you for problems related to overflowing sewer systems and sump pumps.

If you want policy add-on perks bundled together, you can try one of the ErieSecure Home Bundles. They include the Advantage Bundle (the base package), Plus Bundle and Select Bundle (the top package).

Erie includes unique gift card coverage in its home insurance policies. This coverage pays customers for remaining balances on eligible gift cards that can no longer be used at local businesses if the business closes within a year of purchase (up to $250 for businesses within 100 miles of your home). Limited to $500 per policy period.

Standard homeowners insurance doesn’t typically cover flood damage, but Erie’s Extended Water coverage offers help if your home is damaged by flash floods, inland flooding, storm surges or snow melt.

Erie’s Extended Water coverage pays out if a flood damages your home’s:

• Basement
• Foundation
• Rooms
• Electrical and plumbing system
• Air conditioning equipment
• Furnace and heater
• Appliances

The Extended Water coverage also includes:

• Up to $10,000 to install certain equipment and material to provide flood avoidance before a flood hits
• Additional living expenses to help pay for other lodging if you must temporarily move while your home is getting repaired after a covered flooding event
• Water damage coverage following a sewer or drain backup

You can save money with these home insurance discounts from Erie:

• Advanced quote discount: Request a home insurance quote from seven to 60 days before your policy renewal date and you’ll earn yourself a discount.
• Fire, burglar and sprinkler system credit: When you put an automatic sprinkler system, fire alarm or burglar alarm in your home, you will be eligible for a discount.
• Multi-policy discount: If you insure more than one policy with Erie, you can typically land a discount between 16% and 25%.

Erie has a much better than average home insurance complaint level compared to the industry average. Claims handling is the most common reason for a complaint about Erie, including delays and unsatisfactory settlements/offers.

To find the best home insurance we scored companies based on these factors:

• Home insurance rates (50% of score): Based on average rates for each insurance company for homes with dwelling coverage of $200,000, $350,000, $500,000 and $750,000.
• Complaints (20% weight): Based on complaints about home insurance that were upheld by state insurance departments. Source: National Association of Insurance Commissioners.
• Availability of extended and/or guaranteed replacement cost coverage (20% of score): Extra dwelling coverage is valuable in the event of large disasters, when construction materials and labor costs tend to spike. We gave points to companies that offer either extended or guaranteed replacement cost coverage. Source: Forbes Advisor research.
• Banned dog lists (10% of score): Banned dog breed lists can make homeowners ineligible for coverage. (A company’s banned dog list might not be applicable in all states.) While any homeowners insurance company could potentially ban any dog with a biting history, not all put a ban on specific breeds. Source: Forbes Advisor research.