Lampton Engle Agency

Announcement: Erie Insurance Announces $200 Million in Immediate Relief for Customers

Broadening ERIE’s Financial Support for Personal and Commercial Auto Insurance Customers

Erie, Pa. (April 21, 2020) – Erie Insurance today announced it will provide $200 million in dividends directly to personal and commercial auto insurance customers in the 12 states and the District of Columbia where the company does business. This immediate relief represents about 30% of related auto insurance premiums over a two-month period or 5% of their annual premium.

Today’s announcement is in addition to the $200 million in rate reductions announced earlier this month.  Together these efforts provide a combined $400 million in immediate relief and longer-term rate reductions for ERIE auto insurance customers. This is in response to the significant decline in miles driven due to the stay-at-home directives for COVID-19.

ERIE plans to distribute checks to customers in mid-May 2020. There is no need for customers to call ERIE or their agent to request the payment. Checks will be mailed directly to customers with policies in force as of April 1, 2020.

“We are fortunate to have built up the financial strength we have over our 95 years that allows us to further support our customers during this challenging time,” said Erie Insurance President and CEO Tim NeCastro. “We stand by our customers during times of hardship and catastrophe and our response reflects who we’ve been for 95 years: a company that’s always there for our customers and a company that is truly Above All in Service.”

To further support local communities throughout its footprint, ERIE is also granting nearly $2.5 million to agents and branch offices to boost their charitable work in local communities.

“Our agents and employees have also stepped up to provide much-needed support to their local communities,” added NeCastro. “They’re feeding first responders and healthcare workers, purchasing gift cards from restaurants and retailers to thank those on the front lines and so much more. This infusion of funding will give them even more opportunities to continue these good works.”

In addition to these measures, the company also continues to help hundreds of individual customers each day with flexible payment and billing options, coverage adjustments and other steps aimed at addressing specific customer and community needs:

Flexible Payment and Billing Options

ERIE understands that each customer’s situation is unique and we continue to offer flexibility to customers facing hardship. ERIE agents can help customers with updating coverages. Customers can contact ERIE’s Customer Care team at (800) 458-0811 with assistance on delaying payment dates, adjusting installments, changing pay plans and waiving penalties and fees.  In addition, some billing requests including deferring payments and nonpay cancellations can also be requested through erieinsurance.com/help or through their ERIE Online Account.Customers can also access their personal lines and life policies, view current and previous invoices, pay their bill and monitor a claim through Online Account.

Making Life Insurance Attainable

For a limited time, Erie Family Life is offering applicants a path to life insurance coverage without the requirement of a paramedical exam. The option to waive the exam is aligned with the Centers for Disease Control and Prevention guidance to maintain social distancing and prevent the spread of COVID-19. The waiver provides Erie Insurance customers the ability to obtain life insurance without in-person interaction. The offer is available for customers up to age 55 and policy face amounts up to $500,000.

Gift Card and Gift Certificate Reimbursement Coverage

Pending regulatory approval in several states, Erie Insurance is adding gift card and gift certificate reimbursement coverage to the company’s ErieSecure Home® policies. The additional feature, included at no additional cost, would reimburse customers for remaining balances on gift cards that can no longer be used at independently owned and operated local businesses due to business closures. There is no requirement that the business be insured by ERIE. While the additional protection was introduced to help promote buying new gift cards to help small businesses with their cash flows during this challenging time, it is not a temporary addition and will become part of ERIE’s base ErieSecure Home policies.

Support for Community COVID-19 Relief Efforts

Erie Insurance provided a lead gift to support a new COVID-19 Rapid Response Fund recently established in Erie, Pennsylvania. The COVID-19 Rapid Response Fund will directly support 501(c)(3) organizations in Erie County, Pennsylvania — the location of our headquarters — that are providing support to those in need, administering care for children, serving elderly populations who are most vulnerable and helping those suffering hardships and job loss due to the COVID-19 pandemic.

Announcement: Rates here are among the lowest

“Rates here are among the lowest”

“The average Ohio homeowner insurance premium is projected to rise by 3.4 percent to $834 on average, more than $300 less than the national average and the ninth lowest in the U.S.  When it comes to our vehicles Ohio’s premiums are expected to increase 3.3% to $715 about $200 less than the national average – the 12th lowest in the country.  Despite rate hikes Ohioans still pay some of the lowest insurance rates in the nation.”

 

Source:  Dayton Daily News Sunday October 30, 2016 written by Rich Gillette

Announcement: Distracted Drivers: You Did WHAT Behind the Wheel?

People Admit to Odd Behavior in New Distracted Driving Survey

Read the full article on Eriesense.com

“A distraction is anything that causes a driver to take their eyes off the road, their hands off the wheel, or their mind off their primary task of driving safely,” said Doug Smith, senior vice president, Personal Lines, at Erie Insurance. “Our survey found drivers unfortunately are engaging in a wide range of distracting and potentially dangerous behaviors.”

ERIE's distracted driving survey revealed some pretty interesting things.

Announcement: Ohio’s premiums among lowest in country

Insurance Department Announces Auto and Homeowners Insurance Rates
??Ohio’s premiums among lowest in country

COLUMBUS — Lieutenant Governor and Department of Insurance Director Mary Taylor announced Ohio’s 2012 auto and homeowners insurance average rates, information that is annually compiled by the Department.
“Ohio’s historically competitive insurance marketplace continues to provide consumers with choice and affordable options for auto and homeowners insurance,” Taylor said. “Our strong, but fair regulatory standards and emphasis on reducing regulatory red-tape for insurers are benefiting consumers.”
Ohio has the 6th lowest homeowners ($624; national average $906) and 9th lowest auto insurance ($619; national average $791) average premiums in the county, according to 2010 data, the most recent figures available from the National Association of Insurance Commissioners (NAIC).
Continue Reading:

Announcement: Report: Ohio Auto Insurance Prices Continued Rise in 2012

Ohio officials are taking notice of a trend for the state’s motorists: the average driver is paying more each year for auto insurance than the year before it.

Figures released this week from the Ohio Department of Insurance (ODI) shows that the average rate among the state’s top 10 car insurers—which together account for 74 percent of the market—jumped 4.1 percent between 2011 and 2012.

Continue Reading:

http://news.onlineautoinsurance.com/state/ohio-car-insurance-prices-2012-99995

Auto Insurance Rate LOCK from Erie Insurance

Erie Insurance has recently announced their new Rate Lock or Rate Protection Endorsement. 

 

This endorsement allows auto insurance policyholders to “lock in” their auto insurance premiums for longer than 12 months.  The locked in rate remains in effect year after year until the policyholder does one of the following:

 

*Adds or removes a vehicle from their policy

*Adds or removes a driver from their policy

*Changes their primary residence

 

That’s right; speeding tickets, fender benders, accidents, not even company rate changes will change the policy premiums for that policyholder unless they make one of those three changes listed above.  This gives policyholders control over their auto rates by extending Erie’s already 12 month rate.  This new endorsement can be added when one of those three changes occurs or on the policy anniversary (renewal) date.  Other discounts, such as home/car, can be added and take effect immediately as always.  Studies show that about 50% of Erie’s auto policyholders would lock in their rates for at least three years!

 

Contact our office for more details.

 

Car Insurance From Lampton/Engle Agency Beavercreek Ohio

Car Insurance From Lampton/Engle Agency Beavercreek Ohio

6 Tips To Cut Costs On Your Car Insurance

Please go to our Agency Newsletter and read about the 6 tips to cut costs on auto insurance.  Click on the Winter 2008 and scroll down for the article.

Remember to contact Brian, Debi, or Barb about your home or auto insurance, we will call you back!

God Bless everyone, have a joyous and safe holiday season.

 

Brian

Why Adequate Coverage Is So Necessary

According to a 2003 study by the Insurance Research Council, the leading property/casualty research organization in the United States:

  • Between 1997 and 2002, the average medical liability payment to claimants in “serious” accidents, that is, accidents in which one person was admitted to a hospital, was $46,199.
  • Between 1997 and 2002 62% of all claimants that received any amount of bodily injury liability payments also were paid money for lost time from work.
    • Of those 62%, the median number of days lost from work was seven.
    • 20% of those who lost time lost more than one month of work.
    • The payments for lost work time range from an average of $5,000 for the median claim, $15,089 for one month claims and $30,253 for those out of work 3 months or longer.

These dollars area also paid under the bodily injury per person and per accident limits.

  • Between 1997 and 2002, 25% of claimant’s cars in accidents where bodily injury liability payments were made contained more than one passenger. In over 83% of those instances, when one passenger was injured the others were also injured. So, consider the above figures and at least double them in one quarter of accidents.
  • Courts tend to be generous with liability awards. From 1997 to 2002, fully 81% of bodily injury claimants received bodily injury payments that were greater than the actual losses they claimed.