Compare Erie vs. State Farm: Quotes, Discounts 2022

Erie vs. State Farm: A Summary

If you’ve been on the hunt for a car insurance policy, two of the options you’ve probably come across are Erie and State Farm. They’re both reputable companies offering affordable rates, but keep in mind that Erie is only available in select states. Compare car insurance quotes from these two companies and more with the Insurify quote-comparison tool.

ICS Score Explanation:

The Insurify Composite Score (ICS) is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

Erie

Founded in 1925, Erie Insurance provides vehicle, property, life, and business insurance to residents of 12 states. The company has more than six million policies in force and sells policies through a network of independent insurance agents. Erie has superior financial strength ratings with A.M. Best and is also recognized in the area of customer satisfaction.

Erie is one of the top-ranked midsize insurers in the J.D. Power 2021 U.S. Insurance Shopping Study and is also ranked second for claims satisfaction. However, the company had more complaints with the NAIC in 2021 than were expected given its size. Complaints about Erie have been trending upwards in recent years.

In addition to standard coverage options like collision and comprehensive coverage, Erie offers add-ons like roadside assistance, rental car reimbursement, new car and better car protection, and rideshare coverage. Erie also operates the YourTurn telematics program, which allows users to earn rewards for safe driving.

State Farm

Founded in 1922, State Farm is the largest auto insurance company by market share in the U.S. It offers a variety of insurance products, including car insurance and homeowners insurance, in addition to banking and investment products. State Farm offers some of the lowest rates in the industry and has solid financial strength ratings from independent rating agencies.

State Farm is the top-ranked large insurer in the J.D. Power 2021 U.S. Insurance Shopping Study and is also ranked above average for claims satisfaction. The company also had fewer complaints with the NAIC in 2021 than expected given its size, though complaints have been trending upward slightly. State Farm also has a well-rated mobile app.

In addition to offering standard coverages, State Farm offers coverage for rentals, teens, classic cars, and commercial vehicles. The company also offers rideshare coverage, emergency roadside assistance, and rental car reimbursement. You can get a variety of discounts from State Farm as well, including a bundling discount and usage-based savings.

Erie Insurance vs. State Farm — Ratings

The Best Car Insurance Companies in 2022

State Farm is one of the best insurers you can choose for your car insurance coverage needs. Not only does the company offer cheap insurance premiums, but it’s also recognized for excellent customer satisfaction and has superior financial strength ratings. While Erie didn’t make the list, it’s still a reputable company with some unique features and coverages.

Compare Erie vs. State Farm: Which Is Cheaper?

Erie and State Farm are very close in price. While Erie is cheaper on average, State Farm is cheaper for certain types of drivers. For example, DUI drivers pay less on average at State Farm. For most other types of drivers, rates are comparable between the two companies, but we’ll cover the cost differences in detail throughout the page.

The Cheapest Car Insurance Companies in 2022

Erie and State Farm are two of the cheapest auto insurance providers we reviewed. Erie offers monthly premiums that are $20 less than the national average, while State Farm offers monthly premiums that are $17 less than the industry average. Either company would be a great option that’s easy on your wallet.

Compare Erie vs. State Farm Car Insurance by Age

Since young drivers have the least experience on the road, they tend to pay the highest rates for car insurance. Research shows that teen drivers are more likely to be in a crash than any other age group, so it makes sense that car insurance for teens is costly. Drivers in their 50s and 60s, on the other hand, tend to pay the lowest rates.

Some car insurance companies offer discounts to help offset the high cost of insuring a young driver, such as a good student discount. And keep in mind that every insurer weighs age a little differently. Here’s what you can expect from Erie and State Farm based on your age group.

Erie is cheaper than State Farm for all age groups, but especially for teens. Teens save $31 per month on average by choosing Erie instead of State Farm for car insurance coverage. For middle-aged drivers, rates are closer, but Erie still offers lower rates.

Compare Erie vs. State Farm Car Insurance by Gender

Most car insurance companies consider gender when establishing auto insurance rates, and women pay slightly less than men at any age, but especially when they’re young. That’s because teen males are more than twice as likely to be in a fatal crash as teen females. Here’s what you can expect from Erie and State Farm based on your gender.

Which is cheapest for men?

Erie is about $5 per month cheaper than State Farm for men. However, State Farm is still $27 less than the national average.

Which is cheapest for women?

Erie is cheaper on average for women than State Farm, but only by $1. Both companies beat the national average by at least $28. Given the minuscule price difference, women considering both companies should compare their individualized auto insurance quotes with Insurify before choosing the best option.

Compare Erie vs. State Farm Car Insurance by Mileage

When you apply for a car insurance policy, you’ll provide the company with your estimated mileage. This usually doesn’t affect premiums significantly, but some companies offer lower rates to low-mileage drivers. It’s possible to realize greater savings if you enroll in a usage-based program that tracks your mileage.

State Farm offers a discount for enrolling in its telematics program, while Erie only offers rewards based on your driving behavior. If you’re a low-mileage driver looking to save, State Farm might be a better option. Here’s how much these companies charge drivers on average based on their mileage.

Which is cheapest for drivers with high mileage?

For high-mileage drivers, Erie offers cheaper rates on average, but only by $1. Both companies offer lower rates than the national average premium by at least $28.

Which is cheapest for drivers with low mileage?

Erie offers cheaper rates than State Farm for low-mileage drivers as well. Neither company offers lower average rates for low-mileage drivers, so Erie is still the cheapest option. Both companies beat the national average premium by at least $28.

Compare Erie vs. State Farm Car Insurance by Credit Score

Unless prohibited by law in your state, most car insurance companies will consider your credit-based insurance score when determining your premium. This score is based on information in your credit report, such as your payment history.

The reason for this isn’t that auto insurers are worried about your ability to pay. Rather, several studies show a link between poor credit and more frequent or costly claims. So if you have bad credit, your insurance company will view you as a greater risk to insure and charge you a higher rate. Drivers with excellent credit, on the other hand, pay the lowest rates.

Which is cheapest for good credit?

Erie and State Farm charge about the same for drivers with excellent credit, but Erie charges slightly less than State Farm for drivers in the good credit tier. Both companies are lower than the national average by at least $26. Given how close these rates are, it’s a good idea to get customized car insurance quotes from Insurify to compare your rate at each company.

Which is cheapest for bad credit?

State Farm hikes up rates for drivers with poor credit, charging $3 less than the national average, while Erie charges about $25 less than the national average. Erie is also cheaper than State Farm for drivers with average credit. If you have bad credit, you’ll likely find even lower rates at GEICO, USAA, or Allstate.

Compare Erie vs. State Farm Car Insurance by Driving Record

Your driving history is one of the most important factors in determining your auto insurance rates because it illustrates the likelihood of filing a claim. If you have an infraction like a speeding ticket on your driving record, it may indicate to your insurer that you’re not taking the necessary safety precautions when driving.

Drivers with accidents and DUIs on their records will pay the highest car insurance rates, while drivers with a clean record will get the best deals. Some auto insurers offer discounts for certain driving courses that you can take if you have a violation on your record. Both State Farm and Erie also offer usage-based programs that can save you money for safe driving.

While these discounts can help offset the high cost of car insurance for policyholders with blemishes on their driving records, in most cases, you’ll still pay more for car insurance. Here’s what you can expect from Erie and State Farm based on your driving history.

Which is cheapest for good drivers?

Good drivers pay slightly less on average at Erie than they do at State Farm. Both companies beat the national average by at least $27. In fact, these companies are some of the cheapest in the industry—but it’s possible to get a lower rate at USAA or GEICO.

Which is cheapest after a speeding ticket?

Erie is about $4 cheaper than State Farm on average for drivers who have a past speeding ticket. However, State Farm is still lower than the national average by $45.

Which is cheapest after an accident?

Erie and State Farm charge about the same rate to policyholders with an at-fault accident, with rates lower than the national average by $48. The only insurer to offer a lower rate to drivers with at-fault accidents on their records is USAA.

Which is cheapest after a DUI?

State Farm offers very generous rates to DUI drivers, in comparison to other insurance providers. State Farm premiums for DUI drivers are $11 cheaper than Erie premiums on average and cost $80 less than the industry average rate. State Farm offers cheaper rates for DUI drivers than any other insurer we reviewed.

Erie vs. State Farm Car Insurance: What discounts does each offer?

Erie Discounts

• Multi-policy

• Multi-car

• Safe driver

• Vehicle storage

• Reduced usage

• Safety features (airbags, antilock brakes, etc.)

• Full pay

• Youthful driver

• Student away

State Farm Discounts

• Telematics discount

• Multi-policy

• Multi-car

• Safety features

• Good student

• Student away

• Good driver

• Loyalty

• Driver education course

• Defensive driving course

Our Methodology and How We Compared Erie and State Farm

The car insurance quotes provided in Insurify’s insurance company comparison guides are based on the analysis of over 50 thousand insurance quotes from 500 ZIP codes nationwide. Insurify’s data science team performs a comprehensive analysis of factors car insurance providers weigh to calculate rates, including driver demographics, driving record, credit score, desired coverage level, and more to give representative samples.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating calculated by weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers a window into how insurance providers compare to one another in terms of both cost and quality.