What Discounts Does Erie Offer for Auto Insurance?

Last Updated on October 21, 2023

Erie Insurance is one of America’s leading insurance companies. The company is well-rated for auto insurance and other insurance products.

If you’re an Erie customer, then you can save thousands with discounts. Erie offers a range of insurance discounts for policyholders, including safe driving discounts, good grade discounts, loyalty discounts, and more.

Want to save money on Erie auto insurance? Today, we’re explaining the best discounts available for Erie auto insurance customers.

Most Common Erie Auto Insurance Discounts

erie insurance discountsCommon discounts enjoyed by Erie Insurance’s auto insurance customers include all of the following:

Erie Insurance Accident Forgiveness

Erie has an accident forgiveness program similar to the programs offered by other auto insurance companies. If you have remained accident-free for a certain period, then you qualify for accident forgiveness. That means Erie will not raise your car insurance rates if you have a single at-fault accident. You get one ‘freebie’ accident.

Typically, an at-fault accident raises rates by 30% to 70%. That means paying thousands of more dollars per year. With Erie’s accident forgiveness, you can pay a little extra per month today to avoid potentially higher rates in the future. If you get into an accident, then Erie’s accident forgiveness could be a huge advantage, saving you a considerable amount of money.

Erie Loyalty Discounts

Erie offers special loyalty discounts to customers who have been with the company for a lengthy period of time. If you have been with Erie for 15 consecutive years or more, then you may qualify for Erie’s loyalty discount.

Loyalty discounts vary depending on the state. In some states, Erie’s loyalty discount consists of accident forgiveness, which means you get one free accident without paying higher insurance premiums. In other states, Erie’s loyalty discounts mean you qualify for discounts or other bonuses.

If you have been an Erie customer for 15 years or longer, then talk to your insurance agent about loyalty discounts. You may be able to save hundreds per year on Erie car insurance.

Multi-Vehicle and Multi-Policy Discounts

Erie offers multi-vehicle and multipolicy discounts. If you have multiple policies or vehicles with Erie, then you might save 15% to 30% on all policies. Instead of paying $2,000 for car insurance on three vehicles, for example, you might pay just $1,500.

To qualify for a multi-vehicle or multi-policy discount, you must register all cars at the same address. Typically, the multi-vehicle or multi-policy discount applies to individuals or married people. However, it’s possible for roommates, boyfriends/girlfriends, and other living arrangements to qualify for similar multi-vehicle or multi-policy discounts.

Safety Equipment Discounts

All vehicles have certain safety features by law – like airbags. However, some vehicles have better safety features than others. Some vehicles have passenger airbags, for example, which aren’t required on any vehicle by law. Other vehicles have lane guidance assistance, automatic braking, and other features proven to reduce the risk of accidents.

If your vehicle has modern safety equipment and a good accident safety rating, then you might qualify for cheaper insurance rates.

Low Mileage Discounts

Erie offers low mileage discounts to certain drivers. The average American drives 9,000 to 12,000 miles per year. If you drive significantly fewer miles than that number, then you could qualify for cheaper insurance premiums. Because you’re spending less time on the road, you’re less likely to be involved in an accident and make a claim. That means the insurance company is less likely to lose money by having you as a customer.

If you work from home, or if you have a short commute to work, then you could qualify for a low mileage discount. Contact your insurer to determine if you qualify for a low mileage discount with Erie.

Erie Rate Lock

Erie has a unique insurance discount program called Erie Rate Lock. With the Erie Rate Lock endorsement, your rates only change if you add or remove a vehicle or a driver, or if you change your registered address. Otherwise, Erie guarantees your rates will remain the same. Erie Rate Lock freezes your rate and premium year after year – even if you file a claim.

Let’s say you have car insurance with Erie. You pay $100 per month for full coverage. You cause an accident with that vehicle and need to make a claim. With traditional car insurance providers, you will pay 30 to 70% higher insurance rates after the accident. With Erie Rate Lock, your rates do not change. Your rates are locked in as long as you don’t change vehicles, change listed individuals on the policy, or change addresses.

Diminishing Deductible

Erie has a diminishing deductible discount available via the Erie Auto Plus Endorsement. Drivers who choose the diminishing deductible option will pay a lower deductible for each consecutive year they go without filing a claim.

Let’s say your deductible is $500, for example. You go without a claim for 1 year, so your deductible drops by $100. Every year you go without filing a claim, your deductible drops another $100. After 5 years without filing a claim, you pay a $0 deductible when making a claim.

Youthful Driver Discount

Erie has a unique insurance discount program called the Youthful Driver Discount. It’s available to unmarried drivers under 21 who live with their parents. You could save 5% to 20% by qualifying for this discount.

Youthful Longevity Discount

Erie has a similar young driver discount called the Youthful Longevity Discount. This discount is for unmarried young drivers who were previously insured (through Erie) under a parent or guardian’s insurance policy. If you qualify for the Erie Youthful Longevity discount, you could save 5% to 20% on car insurance.

College Credit

Erie is one of the few insurance companies that offer college credit insurance discounts – not just good student or good grade discounts.

With Erie’s college credit discount, students can save money if they are living away from college without access to a car. If you live away from home and are going to college, for example, but still want to drive your parents’ car (or cars) when home, then you may qualify for the Erie college credit discount, allowing you to continue driving your vehicle insured whenever you’re home from college.

Final Word on Erie Discounts

Erie offers a range of insurance discounts to drivers of all ages and situations.

By taking advantage of Erie insurance discounts, drivers can save anywhere from 5% to 80% on Erie car insurance premiums. Contact Erie Insurance today to get these discounts added to your policy.

James Shaffer
James Shaffer James Shaffer is a writer for InsurancePanda.com and a well-seasoned auto insurance industry veteran. He has a deep knowledge of insurance rules and regulations and is passionate about helping drivers save money on auto insurance. He is responsible for researching and writing about anything auto insurance-related. He holds a bachelor's degree from Bentley University and his work has been quoted by NBC News, CNN, and The Washington Post.
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