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Home Sense

No Sticker Shock from Named-Storm Deductible

Unlike many carriers, ERIE’s named-storm deductible is a specific dollar amount rather than a percentage of your homeowners limit. Instead, you’re only charged your regular deductible if your home is affected by a named storm or a peril deductible of your choosing.

Peril deductibles are a new option from ERIE that let you choose different deductibles for different perils. They’re based on two things: how much premium savings you want and how much risk you’re willing to retain. These deductibles are actual dollar amounts instead of percentages—a good thing since percentages are more likely to lead to sticker shock when a deductible comes due after a major weather event.

“We’re giving Customers a new option and a new way to manage premiums with peril deductibles,” says Joe Vahey, vice president and product manager, Personal Lines. “Customers can choose a dollar amount deductible from $250 to $10,000 for weather events NWS formally names. This includes hurricanes, tropical storms and tropical depressions.”

You can also choose deductibles for fire and lightning, hail, theft and vandalism, water and wind.

Not interested in changing your deductible? No worries because you still have the option of keeping your original deductible.

“Your ERIE Insurance Agent can advise you about which deductibles are the best fit for you and show you how different deductibles impact your premium,” says Vahey.

ERIE will start rolling out this new option in September 2013. By April 2014, all ERIE Customers will be able to choose their own deductibles for these perils.

"Unlike many carriers, ERIE does not have a named-storm deductible clause. Instead, you’re only charged your regular deductible if your home is affected by a named storm or a peril deductible of your choosing." /blog/no-named-storm-deductible Erie Insurance https://www.erieinsurance.com/-/media/images/erieinsurance/erieinsurancelogo.png

ERIE® insurance products and services are provided by one or more of the following insurers: Erie Insurance Exchange, Erie Insurance Company, Erie Insurance Property & Casualty Company, Flagship City Insurance Company and Erie Family Life Insurance Company (home offices: Erie, Pennsylvania) or Erie Insurance Company of New York (home office: Rochester, New York).  The companies within the Erie Insurance Group are not licensed to operate in all states. Refer to the company licensure and states of operation information.


The insurance products and rates, if applicable, described in this blog are in effect as of August 2013 and may be changed at any time. 


Insurance products are subject to terms, conditions and exclusions not described in this blog. The policy contains the specific details of the coverages, terms, conditions and exclusions. 


The insurance products and services described in this blog are not offered in all states.  ERIE life insurance and annuity products are not available in New York.  ERIE Medicare supplement products are not available in the District of Columbia, New York and Wisconsin.  ERIE long term care products are not available in the District of Columbia and New York. 


Eligibility will be determined at the time of application based upon applicable underwriting guidelines and rules in effect at that time.


Your ERIE agent can offer you practical guidance and answer questions you may have before you buy.