By Erie Insurance 

Ready or not… when a stormis on the way, you have to act fast.

While you’re making an evacuation plan or stocking up on bottled water, the last thing you want to be thinking is, “Will my insurance cover what happens after this?”

Yes, storms can be devastating – personally and financially. But anxiety can keep you from being present to what matters most. At Assure America, we want you to feel confident that your insurance can go the distance when disaster strikes.

For coverage questions about your specific policy, contact your Insurance agent at Assure America.

Hurricanes and Insurance: 4 Common Coverage Questions

Q: A hurricane is on the way. Can I buy a new policy or make a last-minute change? A: Typically, a hurricane watch is called about 48 hours ahead of tropical storm force winds, according to the National Hurricane Center. Once that happens, it’s unlikely you’ll be able to get a new policy or make a policy change at the last minute. 

It varies by state, but in most places, state regulations prohibit anyone from purchasing insurance coverage (or changing their current coverage) once an official hurricane watch or warning is called.

Flood insurance, which is purchased as a separate policy, has a mandatory 30-day waiting period before it goes into effect. That’s because flood insurance is federally regulated through the Federal Emergency Management Agency’s National Flood Insurance Program.

Q: Does my homeowners insurance cover damage from hurricanes? A: Always check your specific policy (or check with your agent) to know what it does and doesn’t include. The big thing to remember is that coverage for flood and water is typically purchased separately.

• Wind damage: Generally speaking, wind damage – including wind from hurricanes – is already included under a standard homeowners policy, since it’s considered a covered peril. (Learn more about homeowners insurance.)
• Water damage: Damage from flooding or water is excluded in your homeowners policy. Water-related damage, like flooding or storm surges, has to be purchased separately – and there’s a 30-day waiting period before your policy will go into effect. ERIE offers flood coverage through a partnership with American Bankers Insurance Company, a federally funded flood carrier. (Learn more about flood insurance.)

Q: Does my auto insurance cover damages from hurricanes? A: In most cases, your auto policy can cover hurricane-related damages to your vehicle if you have collision and comprehensive coverage.

• Collision can pay for damage to your car when it’s on the road or in motion – for example, if you collide with another car, or a fixed object like a guard rail or telephone pole. It can also cover damage that results from your car flipping over. (Road conditions can be extremely dangerous before, during and after a hurricane. For your own safety, please avoid driving unless it’s an emergency.) Learn more: What is collision insurance?
• Comprehensive coverage can pay for damage “other than collisions” – for example, if your car gets flooded or the wind snaps a tree limb that falls on your car. Comprehensive coverage is optional, so if you live in a hurricane-prone area, you might want to consider adding it to your auto policy. Learn more: What is comprehensive insurance?

Still have questions? Read our Ins and Outs of Car Insurance Coverage!

Q: What’s a named-storm deductible? And does ERIE have one? A: The deductible is the out-of-pocket amount you pay to your insurance company after a covered loss. If you live in a hurricane-prone area, some insurance carriers have deductibles that only apply to damages from natural disasters – for example, named storms or windstorms.

Many named-storm deductibles are set up as a percentage of a home’s value – usually from 1 to 10 percent – instead of a fixed dollar amount. That means a homeowner with a home insured for $161,100 would shell out $16,100 if their named-storm deductible was 10 percent. If you’re not financially prepared, it can be a big sticker shock. Some insurance companies make the percentage deductible mandatory for homes in high-risk coastal areas.

Other storm deductibles may be set on an actual dollar amount. At Assure America, storm deductibles are optional, and we let you choose an actual dollar amount for your named storm deductible – from $250 to $10,000 – based on your budget and how much risk you’re willing to retain. Learn more about how naming your own deductible works, or ask an Assure America agent.

We’re here when you need us.

When you’re with ERIE, our policy is a promise to do the right thing. If a hurricane hits and you have to file a claim, know that we’re here for you from first question to final follow-up.

We value your time, energy, schedule and commitments. That’s why we do everything we can to make our claims process convenient and fast. Learn more about how to file a claim. 

Stay safe this hurricane season. Our local Assure America agents are here to help answer your questions and help you feel confident about your coverage.

By Erie Insurance

Seeking shelter during a hailstorm to protect yourself from injury is a good idea. But what about things that you can’t protect?

Hail damage and your home

“Most homeowner’s policies provide coverage for damage by hail,” says Terry McConnell, vice president, Personal Lines Underwriting, at Erie Insurance. “Just note there may be restrictions as far as a separate hail deductible that may apply.”

McConnell says the average financial cost of hail damage to a home can be around $10,000. That varies depending on the length of the storm, the size of the hail, the amount of damage done to the roof and the siding, and the condition of those structures before the storm began. A directional storm, hitting only one side of a home or roof, will affect that number as well.

McConnell advises homeowners take a proactive approach toward protecting their homes from hail damage. “Don’t use your insurance policy as a maintenance policy,” he cautions, “as this could expose you to surcharges that come with filing claim.”

Instead, McConnell says you should inspect your roof yourself before a storm hits. Roofs with higher-quality shingles ward off hail damage better than roofs with low-cost shingles. Likewise, newer roofs hold up better to hail damage than deteriorated roofs.

If your home is in a hailstorm and you suspect it suffered hail damage, McConnell says you should contact your insurance agent to inform them of the situation.

Hail damage and your vehicle

Auto owners have a wide array of polices available to them, according to David Freeman, vice president, Personal Lines Underwriting, at Erie Insurance. “Personal auto polices offer physical damage coverage as an optional coverage,” he says. “There are two types of physical damage coverage: comprehensive and collision. Comprehensive protects against losses other than collision, such as fire, theft, vandalism, hail damage and many other weather events.”

Comprehensive policies usually have a deductible. Freeman cautions you to only select a deductible you feel you can pay in the event that a claim arises. Related blog: How to Choose a Deductible

Freeman says the average weather-related comprehensive claim – which can include hail damage claims – is $2,831. “Hail damage can range from a few minor dents to severe body panel damage, shattered glass and major repair costs,” he says. “Depending on the vehicle’s value, hail can sometimes total the vehicle.”

To protect your vehicle and prevent it from being totaled due to hail damage, Freeman advises following the latest weather reports and moving your vehicle into a garage or under cover if a hailstorm is approaching.

But what if you can’t get your vehicle to safety and it suffers hail damage? “Your policy conditions most likely require that you report your loss as soon as possible to your insurer,” says Freeman. “Your insurer’s material damage appraiser can explain the repair options. He or she will often work directly with the chosen repair facility to facilitate proper claim handling and vehicle repair.”

If you’re not sure you have the right coverage for your home or car, contact  Assure America today!

HERE TO HELP IN ANY WEATHER

Help should never be far from home. That’s why every Assure America policy comes with a friendly, knowledgeable agent who lives and works in your community. Whether you need homeowners insurance, car insurance or both, we’re always here to help you find the right protection.

Talk to a local Assure America agent near you to get a quote customized just for you.

By Erie Insurance - Justin Metz

These days, it’s nearly impossible to turn on your television, listen to the radio or search the internet without seeing an ad for auto insurance. And every company seems to push the same message: “Switch to us and you could save money on your car insurance.”

We all know that price is an important factor when it comes to choosing an auto insurer. But making price your only consideration could leave you short on coverage when you need it most.

Here are 7 things you should consider when comparing auto insurance quotes:

1. Coverage. When purchasing an auto insurance policy, you’ll have a wide range of coverage options to choose from. Basic bodily injury and property damage liability coverage is typically  required by state law. Some additional coverages like collision, comprehensive and uninsured motorist insurance may also be required by state law. If they’re not, they’re available to provide added levels of protection. The coverages and the corresponding limit for each coverage you select have an impact on your policy premium. So before you compare the price of two insurance quotes, always make sure the coverage and limits are the same. 
2. Options. When it comes to insurance coverage, not all policies are created equal. A little research on an insurance carrier could uncover benefits you may not find elsewhere. For example, an auto policy from Assure America includes extra coverages from ERIE such as; pets, personal items and locksmiths at no additional charge to you. And coverage options like Roadside Service 1 can be added to your policy for a few extra dollars each month. 
3. Deductibles. Your deductible is the amount you’ll choose to pay out of pocket to fix your car before your insurance coverage starts to pay. Generally, the higher your deductible is, the lower your premium will be. When choosing a deductible, consider your budget – then get multiple quotes to see if the savings is worth the risk. Consider options like ERIE Auto Plus® endorsement, which offers a Diminishing Deductible2 (reducing your deductible by $100 for each claim-free year).
4. Reputation. In the event of an accident, you want to be confident that your claim will be handled quickly, fairly and efficiently. So it pays to choose an insurance company with a reputation for excellent customer service. Erie was named to Forbes Best Insurance Companies list, ranking us in the top 2% of insurance companies. And while we don’t do it for the awards, we’re honored by the recognition.
5. Service. Insurance can be complicated. That’s why every ERIE policy through Assure America comes with your very own local, independent insurance agent. With an agent, you get the personal attention you deserve from a professional who’s committed to understanding your unique insurance needs. And because our agents are independent, they’ll only recommend an ERIE policy if it’s a good fit for you.
6. Discounts. Researching available discounts can unlock extra savings from your auto insurance quote. With ERIE a typical multi-policy discount3 is up to 20% (depending on your state). And we also offer discounts for things like safe driving, car safety equipment, multiple cars, young drivers and making annual payments. Related Blog: 10 Ways to Save Money on Car Insurance
7. Price. After considering the factors above, it’s time to compare the price of your coverage. Getting multiple quotes allows you to rest easy knowing the value you receive from an insurer is worth the policy premiums. ERIE can help you avoid car insurance rate increases with our ERIE Rate Lock® feature. ⁴Even if you have a claim, your rates won’t change until you make certain changes to your auto insurance policy, such as adding or removing a vehicle or a driver from your policy or changing where your vehicle is garaged.

Deductibles, coverage limits, endorsements. There are so many choices. But you don’t need to know everything about auto insurance – that’s our job. At Assure America, our local, experienced agents can help you get the right coverage for your car and your budget. And if something bad ever happens, we’ll make sure you’re back on your way, right away. Contact your local Assure America agent to experience the difference yourself.

Roadside Service coverage (Towing and Labor Costs coverage in North Carolina and Virginia) is only available when comprehensive coverage has been purchased on the vehicle. Limitations vary by state. Delivery of gas is included at no additional cost; policyholder will pay for the gas.

²The deductible is reduced by $100 for each claims-free year, that this policy has been in force, beginning with the first policy renewal period after this endorsement was added, up to a maximum reduction of $500. In New York, comprehensive deductible cannot be reduced to less than $50 and collision deductible cannot be reduced to less than $100.

³Savings are based on individually purchased policies. Discounts subject to eligibility criteria and rates and rules in effect at the time of purchase. See individual policies for specific coverage details. Certain terms and limitations may apply. Refer to our disclaimer for more information.

⁴Rates subject to change if you add or remove a vehicle, add or remove a driver or change where your vehicle is principally garaged.  ERIE Rate Lock® does not guarantee continued insurance coverage. Not available in all states. Limited to three years in Virginia. Insured must meet applicable underwriting guidelines. Premium may change if you make a policy change. Refer to our disclaimer for more information.

By Erie Insurance

Frost heave occurs when ice forms underneath soil. As the frozen soil switches between freezing and thawing, it can cause the very foundation of your house to shift since frozen soil has about 10 percent more volume than dry soil. This can lead to serious structural damage to your foundation. Unfortunately, frost heave is not covered under most homeowners policies. 

Frost heave can happen in any place that experiences cold temperatures. Yet it is most common when a source of water feeds into poorly drained or frost-susceptible soil like loams and silts. (In general, you can tell if you have these types of soils by touch. Loams are loose and will form a ball in your hand that crumbles when you poke it. Silts are made of small particles that feel slick and sticky when wet; they also resist water, so puddles will often form on top of them when it rains.)

Wall cracks are a telltale sign of frost heave. Cracks are most common on the interior walls, but they can also occur on exterior walls. Other signs of frost heave can include cracked, tilted or displaced concrete floor slabs.

If you notice any of these signs, you’ll want to get in touch with a foundation repair specialist. Some of the long-term steps they can take to help your house recover from frost heave after eliminating any contributing water sources include:

• Hydraway drainage systems: They direct water away from your foundation. In many ways, they are similar to French drains—but manufacturers often claim they are less prone to clogs than French drains.
• Helical piers: They act as shafts that bear the weight of your home.
• Helical wall anchors: They will permanently reinforce the foundation.
• Soil stabilization: This process involves injecting polymers into the soil so it will resist water infiltration.
• Soil replacement: This typically involves replacing poor soil with fill sand (a blend of sand, dirt and clay that compacts well) down to frost depth (this varies depending on where you live).

Heaving can also be caused by tree roots or pressure from nearby buildings. To find out what is causing damage to your house, make sure to contact a certified foundation contractor.

While frost heave isn’t protected under an ERIE homeowners policy, contact Assure America to find out all the ways an ERIE policy can protect your home. 

Call our corporate office at (304) 723-4600 or contact us at any of our locations in Weirton, Wellsburg and Chester in West Virginia; Steubenville, Ohio; Louisville, Kentucky; or Pittsburgh, Pennsylvania.

By Erie Insurance - Justin Metz

As you approach retirement age, life is full of transitions. Your adult children grow up and move out on their own. You prepare to say goodbye to full-time work for good. And if you’re like many baby boomers, you may also think about downsizing your home.

According to a report from Zillow Group, 24% of recent home buyers were age 60 or older – a 47% increase from 10 years earlier. For nearly half of these older adults re-entering the housing market, downsizing was a primary motivation.

What is Downsizing?

When it comes to real estate, the term downsizing is pretty self explanatory. It means moving to a home that’s smaller than your current residence.

But for those starting their downsizing journey, finding a house, apartment or condo with less square footage is just the beginning. That’s because one major implication of moving to a smaller home is having less space to store all the things you’ve accumulated over the past few decades.

When is the Right Time to Downsize?

Choosing to downsize your home is a deeply personal choice – one that comes with major lifestyle implications. But there are several signs that it may be a good time to make a move.

• Unused space. When your family was growing, all those bedrooms and bathrooms were an absolute necessity. But as an empty nester, you may find your home is bigger than what you need. If you have lots of space that is unused on a daily basis, downsizing can be a great choice.
• Decreased mobility. As you age, homes with stairs, narrow hallways and small bathrooms can become difficult to navigate. Downsizing provides an opportunity to move into a single-floor house with universal design features – meaning you’ll have a safe, accessible space to spend the coming years.
• Change in income. When you decide to retire, you’ll have to adjust to a new financial picture. Moving into a smaller home often translates to smaller bills, which can be helpful if your savings and retirement benefits don’t quite replace your full-time income.
• Desire to relocate. Do you want to spend more time with your grandkids who live in another state? Or trade those cold northern winters for the Florida sun? Retiring in a new city can serve as an occasion to downsize in the process.

What are the Advantages of Downsizing?

Here are some reasons why you may want to downsize your home.

• Access to equity. Real estate prices are at all-time highs in many cities across the country. If you’ve owned your current home for any length of time, you can cash out all that home equity when you sell. Because you’re buying a smaller home, you may end up with no mortgage at all (and cash to spare).
• Lower bills. Smaller homes use less energy. That means lower gas, electric and water bills – something you’ll appreciate as you enter retirement.
• Less maintenance. With a smaller home, there’s less space to clean, dust and vacuum. A smaller yard will save you hours of mowing and landscaping in the summer. And if you move into a condo or apartment, you’ll have no outside maintenance at all.
• More accessibility. When you downsize, you’ll have the option to choose a home that’s handicap accessible. While you may not need it now, it’s a feature you’ll likely appreciate in the years to come.

What are the Disadvantages of Downsizing?

While downsizing can be a great option for older adults, there are still some cons to consider.

• Home availability. In a seller’s market, the same factors that make it a great time to list your home can make it difficult to find a new one. With tight home inventories, you may have less options to choose from when searching for a new home – and the ones you do find may sell quickly.
• Adjusting to small spaces. When you’re used to a large home, adjusting to life with less room can be difficult. For this reason, just the thought of downsizing makes many people hesitant to move.
• Leaving memories behind. Your current home is filled with memories. It may be where you raised a family and watched your kids grow up. And leaving it all behind can take an emotional toll. The same can be true for purging many of the possessions you’ve collected over the years.
• Moving costs. While transitioning to a smaller home will likely produce long-term savings, the process of moving results in lots of upfront expenses. You’ll need to have enough cash saved for things like closing costs, home repairs and hiring movers – just to name a few.

How to Prepare for Downsizing

Ready to downsize your home? Take these steps to prepare before moving into your new living space.

• Fix up your home. If you’ve lived in your current home for any length of time, it probably needs a little TLC before you list it for sale. So fix that leaky faucet, add a fresh coat of paint and look for other improvements you can make to boost your home’s resale value, provided by ERIE.
• Declutter. With less space in your new home, you’ll want to start going through your possessions as soon as possible. Keep the items you need and use frequently, then donate, sell or give away the rest. Organization experts recommend getting rid of duplicate items, as well as anything you haven’t used within the past year or two. If you have any collections, consider keeping a few of your favorite items and parting ways with the rest.
• Limit legacy gifts. You’ve saved boxes of keepsakes, memories and family heirlooms to pass on to the next generation. But how many of them will your children actually want (or keep when you’re gone)? To avoid over-saving, talk to your family members about the gifts you’d like to leave behind one day. Digitize your photo albums, by ERIE. And if your daughter wants great-grandma’s cuckoo clock or fine china, consider giving those legacy gifts early. In doing so, your family can start enjoying your treasured items right away, and you’ll have one less thing to pack for your move.
• Measure your furniture. You know how furniture always looks smaller before you take it home from the store? That same principle will apply to your downsizing journey. In large rooms, you may underestimate the size of large items like couches, tables and dressers. Take measurements in advance to make sure they’ll fit in your new home. If anything will be too big, try to sell or donate it before your move and replace it with a smaller item.
• Call your insurance agent. Before pulling the trigger on your new place, it’s always smart to give your Insurance agent a call. Your local agent can give you an idea of how your move could change the level of homeowners insurance you need, and how much you’ll pay in premiums. And remember that unlike other utilities, moving to a smaller home doesn’t always result in a smaller homeowners insurance bill. That’s because there are lots of factors that go into determining how much homeowners insurance costs, including the age, location and condition of your home, and other personal information.

Find the Right Balance

Downsizing is a big decision and like any big decision, it’s important to find the right balance. When it comes to homeowners insurance coverage, you can count on our local, independent agents to help you make good decisions about your insurance protection. Get in touch with an Assure America agent today. Our agents are knowledgeable, caring people you can rely on. They’ll make sure you have the protection that you want and need – all at the right price.

By Erie Insurance - Scott Westcott

You’ve negotiated a good deal on your new dream home.

It’s in the perfect neighborhood, and in great shape. Even better, those monthly mortgage payments won’t stop you from going out to nice dinner once in a while or even heading off on vacation.

But hold on. Did you factor in the cost of homeowners insurance? The cost of homeowners insurance typically doesn’t have a big enough impact that you end up stuck inside your new home without living it up outside of it. Still, it is extremely important to factor in insurance costs to figure out what’s right for your situation—and your budget.

Of course, lenders almost always require homeowners insurance before signing off on the loan. And even if you’re fortunate enough to not need a loan, you’ll need good insurance to protect your investment.

So you know you need it, but how much are you going to pay for it? According to Realtor.com, the average annual premium costs about $952.

But depending on your situation you could pay more or less than average. Just how much relies on several factors that we will explore – including your deductible, the value of your home and belongings, your history of claims, and other variables such as the cost and age of your home.

Selecting the Right Deductible for You

Your deductible is one key factor in how much you will pay. If you select a policy with a high deductible, the annual cost for your insurance policy should be lower. Of course, when you go to make a claim, you will pay more out of pocket to meet that deductible. Conversely, if you pick a lower deductible, the cost of your insurance will be higher, but you won’t suffer sticker shock when it comes time to put in that claim. Figuring out your household expense (and entertainment) budget is one way to decide on whether to go with a higher or lower deductible. Whatever deductible you choose, it’s a smart idea to have that amount stashed away in your emergency fund so you’re financially prepared in case you need to file a claim.

How Much Coverage is Enough?

While we’re focusing on the actual cost of homeowners insurance, it’s essential that you get the right amount of coverage. Specifically, you need enough insurance that would allow you to rebuild your home in the event of a total loss. In other words, don’t pinch pennies by choosing a lower limit that will hurt you in the event of a catastrophe.

Ask your agent about replacement cost versus actual cash value. Replacement cost is typically the way to go because you could rebuild after a major loss without concern for depreciation.  And for added protection, ask your agent about ERIE’s guaranteed replacement cost.

Home Improvements Could Affect Cost (and Limits)

Is your new home going to be move-in ready, or a fixer-upper? If you are planning on doing major upgrades to your home that will boost its value, keep in mind that the cost to insure itwill likely rise, as well. If and when you do a home improvement project, report that to your insurance company so they can adjust the limit, if necessary.

If your ‘home improvement’ project is the result of major damage to your home… make sure you have what’s known as “loss of use” coverage. That coverage can reimburse you for hotel costs or apartment rental if your home is a total loss, or becomes uninhabitable after a covered loss. You would want that reimbursement if you’re forced out of your home while repairs are made.

Make Sure You Have Enough Liability Coverage

Lawsuits are pretty common these days, and can be extremely costly. That’s why you should make sure you buy an appropriate amount of coverage. When you buy homeowners liability coverage, you’re investing in peace of mind. Homeowners liability coverage protects your assets in case someone gets hurt on your property. You might not realize this, but it also provides coverage for some incidents away from the home. You might also want to consider a Personal Catastrophe Liability policy, which adds another $1 million to $5 million in liability coverage to your homeowners as well as your auto coverage.

The Value of Your Home and Your Possessions

It’s a pretty simple formula – if your home costs more, you’re going to pay more to insure it. You need a good, solid assessment of your home’s worth. It also helps to estimate the value of your personal possessions through a home inventory. While it might seem daunting, creating a home inventory is easier than you think (ERIE). 

Your History of Claims

When it comes to insurance, your past can influence your future. How much you pay for homeowners insurance can be significantly affected by how many claims you’ve made previously. It stands to reason that homeowners with fewer claims would pay less, and those with more claims would pay more. Those with more claims are proven to be a higher risk for insurers.

Geography

Geography — as it relates to frequency of natural disasters — also plays a role in your costs. If your home is near an area that is prone to hurricanes, tornadoes or forest fires, to name some examples, your homeowners insurance is going to be more expensive. Learn more about how named storms affect your insurance coverage (ERIE).

Customize Your Coverage With Endorsements

Think of endorsements as added options to customize your policy. At ERIE, we have a bunch*. For example:

• Sewer or drain backup: You probably don’t think about your sewer or drains backing up and swamping your home – that is, until it happens. This coverage can help clean up the mess. Sewer and drain back up coverage covers loss caused by water or sewage that backs up through sewers or drains or overflows from a sump pump.
• Identity Recovery Coverage: Add on this coverage for a low annual fee to help restore your credit in the event of identity theft or fraud. You’ll also get your own dedicated case manager who will walk you through the process step-by-step. Learn more about identity recovery coverage from ERIE. 

Available endorsements differ by policy and state, so check with your Assure America agent about which ones are the best fit for you and how much they’d cost to add on with Erie.

What Else Can Affect the Price of My Homeowners Insurance?

There are several other factors that could influence how much you pay for homeowners insurance.

• The age and condition of your home: Owning a newer home may cost less to insure than a similarly priced older home as it is likely equipped with newer equipment and more modern safety features. The condition of older homes can be pretty wide ranging, and includes the roof, pipes, heating system and electrical wiring. It’s important to note that equipment breakdowns are typically not covered by homeowners insurance, however damage caused by a breakdown is covered in some instances.
• Your credit score, age, and other personal information: No surprise here: A higher credit score usually results in a lower rate.
• Recreational and potentially risky amenities: Some features, such as a swimming pool, signal potential risk for insurers, and your premium could reflect that.
• Animals and pets: Your homeowners policy could be affected, either by a price difference or an exclusion, if you have pets or farm animals that are considered by some to be dangerous.  

How Can I Save Money on My Home Insurance?

You could reduce the amount of your premium if you have security features such as a security alarm system, carbon monoxide detectors and smoke alarms. Check with an insurance professional like your local Assure America agent about potential discounts.  

What's a Good Price for Home Insurance?

Shopping for insurance solely on price can end up being a costly mistake. You should compare costs of homeowners insurance, while making sure you have a clear understanding of what each insurer is covering. A great deal isn’t so great if you end up shelling out a lot more money in the event of a major claim.

And after you’ve done your research and assessed your specific needs, you should be worry free enough to relax and enjoy your new home knowing you’re covered with the right insurance at the right price. Learn more about homeowners insurance from Assure America and call today to request a free quote. 

Want to Continue Learning About How Homeowners Insurance Works?

You might enjoy these related stories:

• 8 Ways To Save Money On Home Insurance ASSURE
• Can Homeowners Insurance Cover Sinkholes? ERIE
• 6 Ways to Prevent Home Water Damage ASSURE
• How Can I Add Equipment Breakdown Coverage To My Policy? ERIE

*Not all coverages are available in all states. Coverage is subject to terms, conditions, limits, exclusions and applicable deductible. See individual policies for specific coverage details and exclusions. Please refer to our disclaimer and talk to an Assure America agent for state-specific policy information.

By Erie Insurance

Life insurance: It’s not exactly the kind of topic that comes up during family dinner. No one really wants to talk about the death of a loved one. But when it comes to securing your family’s financial security, it’s a conversation that needs to happen.

The fact is, there are many things about life insurance that people don’t know.

Find out what people had to say about the cost of life insurance and their reasons for (or against!) buying coverage in the new national survey from Erie Insurance.

Life Insurance: It’s More Affordable Than Most People Think

When asked why they don’t have life insurance, almost four in 10 (38%) said it would be too expensive. However, survey results show most people probably overestimate the cost.

For example: With Erie Family Life, a 20-year, $250,000 term policy would cost roughly $200/year for a healthy 30-year-old man and $185 for a healthy 30-year-old woman.

When asked to estimate the cost, more than half of respondents (56%) said that policy would cost $300/year or more, including 10% thinking it would be $500/year. A full 11% more than doubled the actual cost, estimating the cost at more than $500/year.

The good news? Life insurance is probably more affordable than you think. Estimate your coverage with our life insurance calculator, or talk to a local Assure America agent who can provide you with a customized quote based on your specific circumstances (and budget).

Top Reasons and Motivations for Having Life Insurance

So why do people buy life insurance, anyway? It’s not for you – it’s for those you leave behind.

The survey asked life insurance policyholders to list their top one or two reasons for buying this coverage.

The top answers were:

1. To have money to leave as an inheritance for loved ones: 37%
2. So my loved ones would have money to pay for my funeral expenses: 37%
3. So my spouse and/or children would have enough money to maintain our current standard of living without my income: 32%
4. So my loved ones could pay my debts: 17%
5. So my spouse and/or children could keep our current home: 10%

See more surprising facts and statistics about life insurance in the infographic of survey results.

More coverage questions? Check out these related blog stories:

• I Have Life Insurance Through Work. Is that Enough?
• Life insurance: It’s not exactly the kind of topic that comes up during family dinner.
• Buying Life Insurance for the First Time? Then Read These 8 Tips

Life Insurance and Health Conditions

When you’re looking to buy life insurance, how does your overall health come into play?

Survey says: The majority of people know that certain health conditions affect the price of a life insurance policy, but there is some uncertainty. When asked if high blood pressure can impact the price of your policy, 65% of people accurately said that insurance companies consider that when determining a rate. Others (20%) weren’t sure, while 15% incorrectly assumed high blood pressure doesn’t affect your rate.

Many people were also unsure about how a history of cancer might affect someone’s ability to get life insurance. Almost one in five (19%) think a person who has had cancer cannot get life insurance, while 37% don’t know whether they could or not.  

In fact, cancer, along with other past serious conditions like a heart attack or stroke, often will not automatically disqualify a person from getting life insurance. Erie Insurance considers the type and severity of the illness, the time that has elapsed since the diagnosis, and current medications or treatment regimen when determining if a person is eligible for a life insurance policy.

Who are the Most Common Life Insurance Beneficiaries?

According to our survey, most people name their spouse (59%) or child/children (38%) as their life insurance policy beneficiaries. However, some people want to take care of their furry friends who are left behind. Surprisingly, 10% listed their dog as their beneficiary while 4% listed their cat!

Generally speaking, a person cannot literally name a pet as a life insurance beneficiary. This is because, legally speaking, pets are considered property and are unable to sign off on legal documents.

Learn more in our related blog story: How to Choose a Life Insurance Beneficiary.

Affordable and Flexible Life Insurance Coverage

“Just as with any type of insurance, what’s right for your neighbor may not be right for you,” said Lou Colaizzo, senior vice president, Erie Family Life. “Your agent can help you determine the best life insurance policy for you and your family based on your individual circumstances and needs.”

Erie Family Life offers the right coverage and flexible options, helping you build a policy now and adaptable later. For more life insurance click here to find an Assure America agent near you and start the conversation. Contact us today!

By Erie Insurance

Before you get life insurance coverage, you should understand why you need it. While there are many reasons to buy life insurance, the most common reasons include:

1. Final expenses: Final expenses refer to any expenses related to someone’s passing. This can include a casket, funeral, preparations, memorial service, cremation, and more. Life insurance for final expenses is worth considering—after all, the National Funeral Directors Association reports that the median price of a funeral with a casket is around $7,850. Families without enough funds are forced to cut back on the service or ask friends and family for donations. Some families have turned to crowdfunding to help cover the cost. A modest term life insurance policy can unburden your loved ones by taking care of these expenses.
2. Income replacement: Your loved ones depend on your income to meet daily needs for food, medical care, utilities, car payments, and much more. There are also future costs like a child’s college education or contributions you would have made toward a surviving spouse’s retirement. If you pass away without a means for replacing your income, their standard of living could be in serious jeopardy. Having a life insurance policy in place can help provide financial security and the ability to maintain your current lifestyle (especially if you stay home with young children). How much life insurance you need is based on two factors: your salary and the number of years until you retire. An insurance agent will also account for any other factors such as Social Security benefits, your partner’s income, your debt, and your savings. Always aim to buy the amount you really need—but also remember that something is better than nothing when it comes to life insurance coverage. (Spoiler alert: it’s more affordable than you may think!)
3. Paying off a mortgage: A mortgage is often the biggest single line item in a person’s budget. Could your family afford your home’s mortgage without your paycheck in the picture? If not, an already sad situation would be compounded by the family possibly losing the house they love. This could also mean your children could no longer attend a school in their current district or maintain the friendships they currently have. Life insurance can pay off an outstanding mortgage so your family can enjoy the home they love without the burden of outstanding payments. 

These are the three most common reasons people purchase life insurance. Yet there are many other reasons for buying life insurance, such as building or leaving an inheritance, saving for retirement, protecting student loan co-signers , and more.

Life Insurance=Love Insurance

February is Insure Your Love month and the campaign is coordinated each year by Life Happens. Make sure to connect with your local [ERIE] Assure America Insurance agent to insure your love with life insurance. Contact Assure America today! 

Life Happens is a nonprofit organization dedicated to helping consumers take personal financial responsibility through the ownership of life insurance and related products. Life Happens Pro furthers its mission of educating the public by making its resources customizable and putting them directly into the hands of agents.

By: Erie Insurance 

Life insurance: It’s not exactly the kind of topic that comes up during family dinner. No one really wants to talk about the death of a loved one. But when it comes to securing your family’s financial security, it’s a conversation that needs to happen.

The fact is, there are many things about life insurance that people don’t know.

Find out what people had to say about the cost of life insurance and their reasons for (or against!) buying coverage in the new national survey from Erie Insurance.

Life Insurance: It’s More Affordable Than Most People Think

When asked why they don’t have life insurance, almost four in 10 (38%) said it would be too expensive. However, survey results show most people probably overestimate the cost.

For example: With Erie Family Life, a 20-year, $250,000 term policy would cost roughly $200/year for a healthy 30-year-old man and $185 for a healthy 30-year-old woman.

When asked to estimate the cost, more than half of respondents (56%) said that policy would cost $300/year or more, including 10% thinking it would be $500/year. A full 11% more than doubled the actual cost, estimating the cost at more than $500/year.

The good news? Life insurance is probably more affordable than you think. Estimate your coverage with our life insurance calculator, or talk to a local Assure America agent who can provide you with a customized quote based on your specific circumstances (and budget).

Top Reasons and Motivations for Having Life Insurance

So why do people buy life insurance, anyway? It’s not for you – it’s for those you leave behind.

The survey asked life insurance policyholders to list their top one or two reasons for buying this coverage.

The top answers were:

1. To have money to leave as an inheritance for loved ones: 37%
2. So my loved ones would have money to pay for my funeral expenses: 37%
3. So my spouse and/or children would have enough money to maintain our current standard of living without my income: 32%
4. So my loved ones could pay my debts: 17%
5. So my spouse and/or children could keep our current home: 10%

See more surprising facts and statistics about life insurance in the infographic of survey results.

More coverage questions? Check out these related blog stories:

• I Have Life Insurance Through Work. Is that Enough?
• Term vs. Whole Life Insurance: Which Do You Need?
• Buying Life Insurance for the First Time? Then Read These 8 Tips

Lock in your peace of mind today with a Guaranteed Insurability Option rider and life insurance with ERIE. Contact one of your local Assure America agents today to talk about what type of life insurance is right for you. Call today!

Provided by ERIE: 

ERIE® insurance products and services are provided by one or more of the following insurers: Erie Insurance Exchange, Erie Insurance Company, Erie Insurance Property & Casualty Company, Flagship City Insurance Company and Erie Family Life Insurance Company (home offices: Erie, Pennsylvania) or Erie Insurance Company of New York (home office: Rochester, New York).  The companies within the Erie Insurance Group are not licensed to operate in all states. Refer to the company licensure and states of operation information.

The insurance products and rates, if applicable, described in this blog are in effect as of July 2022 and may be changed at any time. 

Insurance products are subject to terms, conditions and exclusions not described in this blog. The policy contains the specific details of the coverages, terms, conditions and exclusions. 

The insurance products and services described in this blog are not offered in all states.  ERIE life insurance and annuity products are not available in New York.  ERIE Medicare supplement products are not available in the District of Columbia or New York.  ERIE long term care products are not available in the District of Columbia and New York. 

Eligibility will be determined at the time of application based upon applicable underwriting guidelines and rules in effect at that time.

Your ERIE agent can offer you practical guidance and answer questions you may have before you buy.

By Erie Insurance

Should you wash your car in the winter? The short answer: Yes.

While you may skip them because it’s nearly impossible to keep a car looking clean in winter, road salt and other ice-melting chemicals used to keep our roadways safe can cause rust and corrosion on your vehicle—with fuel lines and brakes being the most susceptible to damage.

But washing your car in the winter can come with its own challenges, like cold weather freezing your doors shut. We answered some common questions about winter car washes and other ways to keep your car clean this winter.

Tips to Keep in Mind if Washing Your Car in Cold Weather

How cold is too cold for a car wash?

Skip the wash if the temperature outside is below 32 degrees Fahrenheit. Water that hits your car when the air is too cold (like below freezing) could lead to frozen locks and door handles. It’s important to let your car dry thoroughly so water doesn’t get stuck and freeze. Consider using a car wash with a dryer or wiping your car with a microfiber cloth if you’re at home.

Even if it’s not below freezing, road salt will stick to a wet car, undoing the benefits of the car wash. So make sure your car has time to dry before taking it out for a spin.

What do I do if my car freezes up?

If water does sneak its way into your door and freezes your locks, don’t just start pulling frantically. If you can, remote start your car and let it warm up. You can also try using a de-icing fluid from your favorite auto shop. It often comes in a spray bottle to fit in cracks and even helps to prevent moisture from causing future freezes.

If you know that freezing rain or sleet is coming, spray a little cooking oil on your car door’s rubber seals to help prevent them from freezing shut.

How often should I wash my car in the winter?

The answer really depends on your local climate and how often you drive. If you’re driving your car every day, a weekly car wash might be best to keep the salt away and your windshield clean. However, if you aren’t driving as frequently, you might be able to stick to a monthly car wash. Pro tip: add a car wash into your weekly or monthly errands, so you’re sure to get things clean on your schedule.

How do I wash my car in the winter?

If going to a touchless car wash isn’t in your budget or timeframe, you can always give your car a sponge bath. If you have a garage, take a handful of sponges or microfiber towels and scrub away the grime. You can also test out “waterless” car wash products to help keep your car’s exterior clean and polished.

Can I wax my car in the winter?

Consider getting a protective layer of car wax to help shield your car from road salt before the weather turns. Once the temperature drops below 50 degrees, a fresh car wax won’t be able to set and dry properly. If you waited too long, you can still get a wax – just have the job done indoors or on a warmer day.   

How can I help my car recover from winter?

Winter can be pretty hard on your car. From your wiper blades and brakes working overtime to your salt-stained floor mats, there’s a handful of items to add to your spring cleaning list. Consider getting a rust inspection and an undercarriage deep clean to restore your car’s luster. For more spring car maintenance tips, you can view our top eight must-dos. 

We’ve Got You Covered

Old Man Winter is no car’s friend. But with a little extra care, you can protect your car and the investment you have in it. And even on the coldest days, you can count on your auto insurance with ERIE. Our agents live in your neighborhood and know the weather your car powers through. See what coverage options fit your needs and find an agent near you.