Erie vs. Travelers: Which Company is the Best Fit for You?

Quick Facts

• In general, Erie offers slightly less expensive prices than Travelers
• Erie tends to be a much cheaper option for policyholders who live in rural neighborhoods
• Travelers may help you save more money -- they offer more discounts than Erie Insurance

Erie or Travelers: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering big savings, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Erie or Travelers, but between the two, which company will offer you more affordable rates?

As you can see, Travelers is around $14 more a month than Erie when looking at the national average rates for car insurance.

But that doesn't mean Erie will necessarily be cheaper than Travelers for every driver. After all, insurance carriers can offer drastically different rates to every driver depending on rating factors like your age, your driving record, your credit score, or even where you call home (among other things), so premiums will change quite a bit from person to person.

Wanting to know if Erie or Travelers is really the right carrier for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

Erie vs. Travelers: Average Car Insurance Rates by State

Erie and Travelers compete against each other in eight states, with Erie offering less expensive rates to the average driver in all of them. Wisconsin has the most noticable difference, where Erie prices are $18 more affordable than car insurance rates at Travelers.

That being said, there are plenty of other factors that go into your auto insurance cost than just your home state. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for car insurance compared to older drivers. It's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

Even so, that doesn't mean teen drivers can't still save money on their insurance. As you can see above, teens who use Erie save almost 10% per month compared to those who use Travelers.

That being said, with both companies, you'll see your premiums reduce significantly by the time you turn 25. Travelers offers the steepest drop, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Erie's average rates decrease nearly 55% during that same period.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the lowest auto insurance prices you can find. After all, they've likely been driving for quite some time, which usually decreases their chances of collisions and other infractions that can raise premiums.

But who has the best rates for retired drivers between Erie and Travelers? Erie gets the edge, with premiums for drivers 65 and older over 10% cheaper than the national average for Travelers.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly more affordable car insurance prices than single drivers. That's generally because married couples tend to own and insure multiple vehicles, which can often earn you a discount.

For those who are single, the difference in average rates between these two carriers is not very significant, with Erie premiums coming in at about 7% less than Travelers's. The advantage for married drivers is more obvious, where drivers who use Erie save more than 10% a month.

Erie or Travelers: Average Rates by Gender

Men are statistically more likely than women to get into accidents and file an insurance claim, which means they'll normally end up paying more for auto insurance than women.

On average, women see prices around 7% per month less with Erie, but with Travelers, the difference is closer to 6% a month.

When it comes to the cheapest rates for each gender, Erie comes out on top for both men and women. On average, women save about $14 per month and men save about $14 with Erie compared to the average Travelers policyholder.

Erie vs. Travelers: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

Insurance can be a complicated subject for most people. There are lots of different coverages that account for many different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

The two most common policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury for other drivers and their passengers if you cause an accident) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside liability).

Looking specifically at state minimum liability limits, Erie has the edge, with average monthly prices coming in at $91. If you want a full coverage policy with the same state minimum limits, Erie again has the edge, with policies averaging around $215 a month to Travelers's $225.

Is Erie or Travelers Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their car insurance. But that's not to say you can't save money if you don't have the best driving record, either.

It's no secret secret that at-fault collisions and speeding tickets lead to higher premiums, but which company -- Erie or Travelers -- has the most affordable rates for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Erie for their auto insurance can generally expect their monthly bill to go up about 13% after getting a speeding ticket. Travelers policyholders can expect a bit more drastic of an increase of around 20%.

However, Erie is usually the less expensive option for both drivers who have clean records and those with a recent ticket, offering prices that are $9 and $23 cheaper, respectively, compared to Travelers.

Which Company is Best for Drivers After an Accident?

Erie drivers who get in a collision can expect to see their premiums increase by just under 25%, while those who have insurance through Travelers will see about a 25% increase.

At the end of the day, Erie offers the lowest prices for drivers with an at-fault collision on their records, with average rates coming in at $157 compared to Travelers's $173.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly insurance bill -- typically a lot more than an accident or speeding ticket. Erie drivers usually see a 40% increase in their car insurance premiums after a DUI charge, while Travelers will usually climb prices by around 38%.

How does Credit Score Impact Erie and Travelers Rates?

Often times, your credit score can come into play when companies determine your monthly bill. This isn't true for everyone (Michigan, for example, has banned the use of credit score as a car insurance factor) but it might come into play for quite a few policyholders.

Insurance carriers argue that those with poor credit scores are less likely to pay their bills on time each month, which raises the risk involved on their end, while the opposite is true for those with good credit.

So, which carrier offers the best premiums for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Erie or Travelers Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a substantial impact on your monthly auto insurance bill. Generally, those who drive fewer miles will end up with more affordable rates since there's less of a chance of causing a collision and filing an insurance claim.

Erie tends to be the less expensive option for both remote workers and those taking short commutes. Travelers's average prices for drivers with 6,000 annual miles come in more than $15 more expensive than Erie. Those who drive 12,000 miles yearly can expect to pay over $10 more with Travelers over Erie.

Erie or Travelers: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for car insurance, but the type of area you live in can have a large impact as well. Normally, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

When comparing these two companies side-by-side, Erie typically comes out as the cheapest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

For policyholders in urban ZIP codes, Erie Insurance's average premiums are about $10 less than Travelers. People who live in suburban areas pay around $15 less with Erie compared to Travelers. Those in rural areas can expect to save about $21 with Erie compared to Travelers.

Erie vs. Travelers Discounts

No matter why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by taking advantage of as many insurance discounts as possible.

But with what seems like a million different discounts out there, it can be challenging to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you're eligible for.

Luckily, we did the hard work for you and compared all of the different discounts offered by Erie and Travelers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Looking at the total number of discounts, Travelers has the advantage when it comes to total number of discounts. Erie offers a grand total of 21 discounts, while Travelers has 25.

A couple of those are overlapping for things like advance quote discounts, COVID-19 relief discount, discounts for being a defensive driver, and DRL discounts. Travelers also offers discounts for alternative fuel, continuous insurance, EFT, and more.

On the other hand, Erie has a few proprietary discounts of their own for things like farm discounts, pay plan discounts, prior bi limit discounts, and more.

Final Thoughts: Is Erie or Travelers Best for You?

So, you've seen how different variables can affect your car insurance rates. We've broken down the different discounts each carrier offers, too. That's all well and good, but when it comes down to it, is Erie or Travelers the right carrier for you and your specific needs?

Erie might be best for you if....

• You've been pulled over for speeding recently.
• Your neighborhood is in a city.
• You don't spend much time in your car.

Travelers might be best for you if...

• You value the experience that comes with a large national auto insurance company.
• You care about discounts (Travelers offers the most).

Hopefully, this guide helps you get a better idea of the difference between Erie and Travelers and that it aids in making a more informed decision about your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from a handful of carriers, not just Erie and Travelers. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of top car insurance companies in your area, all in just a few minutes.

Erie vs. Travelers FAQs

Is Erie or Travelers cheaper?

Erie is the cheaper of the two carriers when looking at national average premiums, with policies averaging $153 per month with Erie and $167 for Travelers. That being said, that doesn't mean Erie will be the lowest carrier for every policyholder, since there are a bunch of different factors that come into play when it comes to your insurance payment.

Who is better, Erie or Travelers?

Sadly, the only answer we can give you is "it depends.". One company is not necessarily "better" for everyone -- it all boils down to your unique auto insurance profile. For example, Travelers is less expensive for drivers who have less-than-stellar credit scores, while Erie offers more affordable rates for drivers with an at-fault accident on their record.

Why do Erie and Travelers offer me different rates?

Car insurance companies use many different variables when determining the prices they charge. Factors like where your home is, gender, where you call home, age, and sometimes even things like your credit score can all come into play. Both Erie and Travelers calculate premiums using different variables, so it's likely they'll offer different prices. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from multiple different carriers.

How do I know if Erie or Travelers is right for me?

The only way to find the auto insurance company that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your area information and you'll get quotes from dozens of your local top car insurance carriers for free. With those, you can guarantee you're getting the best price. And maybe you'll find that the best carrier for you isn't Erie or Travelers at all, but another you hadn't even thought of!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.