Erie vs. Cincinnati Insurance

Which insurance carrier is right for you? Compare savings, rates, and quotes from Erie and Cincinnati.

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Erie vs. Cincinnati: What You Need to Know

Erie Insurance Exchange was founded in 1925 by H.O. Hirt and O.G. Crawford, in the city of Erie, Pennsylvania. H.O. Hirt hoped to create a company based on superior service using the mantra, “The ERIE is Above all in sERvIcE,” with the letters "E-R-I-E" raised in capitals out of the word“service.” It still remains the company tagline today. Three years after being established, the company was doing so well that it expanded its business by opening its first office outside Erie, in Pittsburgh. By 1934, the company created the “Super Standard Auto Policy,” which was used as a model for other insurance companies across the country. The company later expanded its product portfolio into a home, business and in the year 1967, Erie Family Life Insurance Company was formed, offering life insurance to consumers. Erie Indemnity Company was registered with the Securities and Exchange Commission in 1994 and in the following year it was listed on NASDAQ. Today, Erie Insurance Company ranks number 381 on the 2019 FORTUNE500® list and has over 5,000 employees and 12,000 independent agents. Also, the company ranks highest among auto insurers in providing a satisfying purchase experience, with a score of 917 (on a 1,000-point scale).

With an A+ rating from the BBB and A.M Best, Cincinnati Insurance Company has been serving its customers since 1950. The Cincinnati Insurance company was founded in 1950 by four independent agents, two of whom were brothers, John Jack Schiff and Robert Cleveland Schiff. The company operates in 13states through nearly 1,000 selected independent agencies.

Below is a list of average rates, rankings, products, and discounts for the two companies. For full company overviews, you can visit Erie Overview and Cincinnati Insurance Overview.

Erie vs. Cincinnati Insurance: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with Erie and Cincinnati Insurance. On average, Erie charges approximately $120.07 per month while Cincinnati Insurance comes in at around $165.44 per month. For Erie, the cheapest state average is Ohio at $81.30 per month and the most expensive is New York at $178.91 per month. For Cincinnati Insurance, the cheapest state average is Indiana at $100.24 per month and the most expensive is Alabama at $340.11 per month.

Erie

Average Rate

$120.07
Cincinnati Insurance

Average Rate

$165.44
National

Average Rate

$117.77
State Erie Cincinnati Insurance
Alabama- $340.11
Illinois- $173.82
Indiana $88.47 $100.24
Kentucky- $146.34
Maryland $166.54 -
New York $178.91 -
North Carolina $84.29 -
Ohio $81.30 $127.41
Pennsylvania $110.85 -
Tennessee $107.01 $148.77
Virginia $90.15 $150.22
West Virginia $96.42 -
Wisconsin $92.13 -

Erie vs. Cincinnati Insurance: Rates by Number of Vehicle

Home

Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Erie and Cincinnati Insurance typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Erie Cincinnati Insurance
1 Vehicle $119.16 $153.24
2 Vehicles $123.18 $208.98
3 Vehicles $199.14 $432.79

Erie vs. Cincinnati Insurance: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Erie charges $107.44 per month and Cincinnati Insurance charges $166.44 per month for customers who own their home.

Own/Rent Erie Cincinnati Insurance
Own $107.44 $166.44
Rent $126.59 $164.85

What is Erie and Cincinnati Insurance Rating?

Which car insurance company is better? We've made it easy to compare companies side by side. See how Erie and Cincinnati ranked among the industry ratings.

ComparisonErieCincinnati
Year Founded19251950
Market Share1.29%
A.M. Best RatingA+A+
BBB RatingA+
Financial StrengthExcellentExcellent
Moody's RatingA1
NAIC Complaint Index0.22
NAIC Complaint Ratio0.22
S&P RatingA+

Erie or Cincinnati: Insurance Products Offered

What coverage is available through Erie and Cincinnati? Both insurance companies offer Auto, Home, and Life insurance. Additional products from Erie insurance also includes Commercial, Condo, Health, Motorcycle, Renters, and RV  insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit Erie and Cincinnati Insurance Insurance page.

InsuranceErieCincinnati
Auto Insurance
Commercial Insurance
Condo Insurance
Health Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Erie or Cincinnati: Ways To Save

Cincinnati offers a wide range of discounts to its policyholders, including Good Student, Healthy Living (Life Insurance), and High Deductible discounts. In contrast, Erie also offers a few discounts that Cincinnati doesn’t include Young Driver Loyalty, Teen Driver, and Student discounts. Start taking advantage of discounts offered by insurance providers like Cincinnati and Erie insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

ErieCincinnati
Advance Quote DiscountGood Claim History Discount
Age 55 DiscountGood Student Discount
Driver Training DiscountHealthy Living Discount (Life Insurance)
Multi-Policy DiscountHigh Deductible Discount
Multi-Vehicle DiscountMulti-car Policy Discount
New Vehicle DiscountMulti-policy Discount
Paid in Full DiscountNew Home Discount
Prior Bodily Injury Limits (BIL) DiscountSafety Equipment Discount (Auto, Home, Business)
Reduced Usage DiscountSafety Features Discount
Safe Driver Discount
Safety Features Discount
Student Discount
Teen Driver Discount
Young Driver Loyalty Discount

Pros & Cons of Erie & Cincinnati

Pros

Erie
  • Erie Insurance is well-known for its competitive price and excellent claims service.
  • It has fewer customer complaints than the industry median, relative to its size.
  • Offers 12-month premium quotes
  • Multiple discounts available
  • It locks in your auto insurance rate, so your premium won’t change unless you add or remove drivers or cars.
Cincinnati
  • Cincinnati Insurance Company is dedicated to superior customer service.
  • Cincinnati has the highest ratings for financial strength.
  • For antique or collector car owners whose cars are less than 25 years old, Cincinnati Insurance is the best of very few options out there.

Cons

Erie
  • It doesn’t accept claims online, only by phone.
  • It offers its products in only 12 states.
Cincinnati
  • Cincinnati Insurance Company only operates in 13 states.

Erie or Cincinnati Mobile Apps Options

The Erie Insurance mobile app is available for iOS and Android.

The Cincinnati Insurance Mobile app is available for android and iPhones and iPads. This insurance tool is where you can manage payments, view auto policy information, download ID cards, submit glass claims, request roadside services and more.

Erie Mobile App
iOS     3.318 user reviews
Android     3.819 user reviews
Cincinnati Mobile App
iOS     4.65 user reviews
Android     3.111 user reviews

Erie & Cincinnati Contact Info

Erie Contact Info
Address100 Erie Insurance Place, PA 16530
Phone1-800-458-0811
Websitehttps://www.erieinsurance.com/
Facebookhttps://www.facebook.com/erieinsurance/
Twitterhttps://twitter.com/erie_insurance
Youtubehttps://www.youtube.com/user/ErieInsurance
Linkedinhttps://www.linkedin.com/company/erie-insurance-group/
Cincinnati Contact Info
Address600 S. Gilmore Road, Fairfield, OH 45014-5141
Phone(888) 242-8811
Websitehttps://www.cinfin.com/
Facebookhttps://www.facebook.com/CincinnatiInsurance/
Youtubehttps://www.youtube.com/channel/UCrqm2BGqGoKndbr6D8oRlcg
Linkedinhttps://www.linkedin.com/company/the-cincinnati-insurance-companies/

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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