Erie also covers $500 worth of cash and precious metals. While your primary possessions are covered by Theft and Misplacement up to the amount it would cost to replace them, certain items-like jewelry, watches, firearms, silverware, furs, and similar possessions-are also covered up to $3,000 per item.Įrie’s standard Theft and Misplacement coverage exceeds the standard coverage of many other carriers. – Loss of Use or additional living expenses kicks in when your home is rendered uninhabitable during repair or rebuilding efforts – Personal Liability Protection, in case a guest is injured on your property – Personal Property is for certain belongings inside the house – Other Structures coverage is for outbuildings like sheds and barns – Dwelling (also called hazard insurance) covers the main structure of the home There are many other auto coverage benefits for licensed policyholders of all ages.Įrie’s base homeowners coverage, called Erie Secure, is beyond average. Collectively, these make for a robust series of auto coverage offerings, and we haven’t touched on each and every feature. A $10,000 death benefit is also awarded for someone who dies in or because of an accident.Įrie extends its policy savings to many young drivers under age 21 who are unmarried and still reside at home with their parents.Īnother interesting auto coverage feature is Pet Protection, which ensures payment of up to $500 if your beloved furry passenger is injured in a motor vehicle accident.Īnd if your car is damaged in a hit-and-run while it’s legally parked and unoccupied, Erie caps deductibles for policyholders at $100. Having Erie Auto Plus also increases a policyholder’s roadside assistance allowance, taking your reimbursement from $75 to $125. That means if you’ve gone five consecutive years without a collision claim, your $500 deductible drops to $100. Over the decades, Erie grew into a Fortune 500 company with more than 6,000 employees and 6 million active policies.įor every claims-free year, deductibles lower by $100, bottoming out at $100 for collision and $50 for comprehensive. Hirt and Crawford-both Pennsylvania natives-drafted a rough business plan that led to 90 shareholders backing them with a combined $31,000 (or over $500,000 in today’s currency).įrom accepting collect calls from customers in the early days, Erie slowly added policies and expanded its operations and coverage outside the state of Pennsylvania. The Erie Insurance Exchange-Erie’s original name-launched in Erie, Pennsylvania, nearly four months later, on April 20, 1925. The duo was so effective at their former employer that the Exchange hired six sales professionals to fill their void. Dissatisfied with their pay and the overall work culture at the Exchange, Hirt and Crawford resigned from the company in December 1924 and set out to start their own firm. Erie was started by two insurance experts-Henry Orth Hirt and Oliver Grover Crawford-who worked for a company called the Pennsylvania Indemnity Exchange between 19.
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