If you have ever been frustrated by a rate increase at your six-month policy renewal, Erie Insurance has a better approach. Here is how their 12-month Rate Lock benefit works and why it matters for Greeneville drivers.
What Is Erie Rate Lock?
When you purchase an Erie auto insurance policy through Vallie Insurance, your rate is locked in for a full 12 months. Unlike carriers that issue six-month policies (and can raise your rate twice a year), Erie gives you rate stability.
How It Saves You Money
With most carriers, rates can increase every six months due to market conditions, even if your driving record is clean. Erie’s annual policy means your rate stays the same for the full year, regardless of industry-wide price changes.
Real Example
A Greeneville family we insured was paying $180/month with a national carrier on a six-month policy. At their second renewal that year, the rate jumped to $210/month with no claims or tickets. After switching to Erie through Vallie Insurance, they locked in at $165/month for the full year.
What It Does Not Protect Against
Rate Lock applies to market-driven increases. If you add a vehicle, change drivers, or file a claim, your rate may still adjust at renewal. But the protection against across-the-board rate hikes is a significant advantage.
How to Get Rate Lock
Rate Lock is included automatically on every Erie auto policy through Vallie Insurance. There is no extra cost or enrollment. Just call us for a free quote and see how much you could save.