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

Announcement: Brian Lampton recognized in Insurance Newsletter

Brian Lampton was singled out with customer appreciation in the July 27, 2011 edition of “The Bulletin.”

Great Agent…
Brian Lampton
Lampton-Engle & Associates, Columbus Branch

” I recently had a roof damage claim and some auto damage too, and I called to say how nice and helpful everyone involved was. Thank you, especially to my Agent Brian and [Claims Supervisor] Donna Carpenter.”

–Customer Jane B., via a phone conversation with Branch Manager Joe Wilkerson

[ Newsletter ]

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

Auto Insurance Money Saving Tip

When Do you remove the “Comp” & Collision coverages from your car?

I was talking to a friend about this just the other day.  First of all and most importantly, there is no “time” to do this.  It has to do with what we call your threshold of pain.  The coverage on your car is about the best insurance for all the things it covers.  It covers collision and the “COMP” coverage basically covers the car for anything other than a collision.  The usual things are not covered, such as, intentional acts, act of war, nuclear detonation, wear and tear and others.  Your car (in most cases) will depreciate over time and at some point policy holders remove the “comp” and collision because it just isn’t worth it.  This is when you have to figure out your threshold of pain.  Here are the economics of it.  First you need to determine what is the ACV value of the car.  What can the car be sold for?  Or most importantly, what will the insurance company pay for the car?  There is no sure fire way to get this “right” but there are some ways to get close.  First, try looking up the value at NADA to try to determine the “neighborhood” of the price range it will fall into.  Be honest about the condition of the car, and use the lower value, remember we are talking about insurance companies here.  Try Auto-Trader to see if you can find the exact year, make, and model of your car and try to get as close to the same mileage as your car.  This is an excellent way to help prove why you think your car is worth what you think it is worth.  Once you determine the value of the car then factor in the following: your deductible will not be paid to you, and look up your collision premium, because you have also paid that out of pocket. 

 

Look at this example:  The ACV of your car is $2,000 and you have a $500 deductible, and your collision premium (already paid) was $58, you will only benefit $1,442.  Now this number is your threshold of pain number.  What this means is, is the $58 savings worth the CHANCE of not getting $1,442?  What would you do with the $1,442?  For some people who have not had a claim in 10 years, they would much rather take the risk and save the premium because they can live with the POSSIBILITY of having a total loss and not getting any money from the company.  Every one’s threshold of pain is different when it comes to money, so it is a very personal decision.  It is YOUR policy, YOUR premium dollars your paying so make the best decision for what you are comfortable with.  If there is a loan or lien on the car, the bank will most likely not allow removal of the Comp or collision.  The State requires liability on any currently registered auto so removing comp and collision will not effect the liability coverages. 

Talk to your agent and find out what your premium savings would be and figure out if it is worth the savings.