ERIE, Pa., March 19, 2012 /PRNewswire/ -- There's some good news on the auto front: Drivers who chose to squeeze a few more years out of their vehicles during the tough economy are starting to upgrade. According to Autodata, February 2012 auto sales were at their highest annual rate since March 2008.
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New cars usually mean new car insurance costs. But while most consumers are prepared to pay a little extra for auto insurance when they get a new car, some are surprised to see their insurance rates continue to rise with each policy renewal – usually either because the driver had an accident or the insurance company increased its rates.
Erie Insurance says enough is enough. Its ERIE Rate Lock product gives customers control over their auto insurance, potentially for years, by locking in insurance rates until they change a driver, vehicle or address. That means a driver's rate stays the same even if overall insurance rates rise, or he or she gets a ticket or files a claim.
"ERIE Rate Lock takes the concept of accident forgiveness to the next level, by ensuring you don't get punished for factors beyond your control," said Leah Micholas, vice president and branch manager at Erie Insurance. "Providing our customers with peace of mind is part of the reason more than 90 percent of them stay with us year after year."
ERIE Rate Lock is currently available in Illinois, Indiana, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Washington, D.C., and Wisconsin. Visit www.seriouslygoodinsurance.com to learn more or to get a quote from an Erie Insurance agent.
*Rate lock limited to three years in Virginia.
**ERIE Rate Lock does not guarantee continued coverage. Underwriting and eligibility requirements apply. Cost may change if you make a policy change.
According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 12th largest automobile and homeowners insurer in the United States based on direct premiums written and the 20th largest property/casualty insurer in the United States based on total lines net premium written. The Group, rated A+ (Superior) by A.M. Best Company, has over 4.3 million policies in force and operates in 11 states and the District of Columbia. Erie Insurance Group is a FORTUNE 500 company. Erie Insurance is proud to be named a J.D. Power and Associates' 2011 Customer Service Champion and is only one of 40 companies so named in the U.S. Erie Insurance has also been recognized on the list of Ward's 50 Group of top performing insurance companies. The Ward's 50 award analyzes the financial performance of 3,000 property and casualty companies and recognizes the top performers for achieving outstanding financial results in safety and consistency over a five-year period (2006-2010).
News releases and more information about Erie Insurance Group are available at www.erieinsurance.com.
SOURCE Erie Insurance