Compare Erie vs. Foremost Signature: Quotes, Discounts (2023)

Erie vs. Foremost Signature: A Summary

While Erie and Foremost may not be among the most well-known car insurance companies, both insurers offer a variety of coverage options for drivers, even when they have a less-than-perfect driving record, a spotty credit history, and little inexperience behind the wheel.

Which insurance company is better depends on a driver’s individual insurance needs. This article will help you compare car insurance providers and decide whether Erie or Foremost is the better choice for you.

The Insurify Composite Score (ICS) is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

Erie

Erie currently offers coverage in 12 states and Washington, D.C.:

• Illinois

• Indiana

• Kentucky

• Maryland

• New York

• North Carolina

• Ohio

• Pennsylvania

• Tennessee

• Virginia

• West Virginia

• Wisconsin

Erie offers a number of benefits that allow its policyholders to customize their coverage, including the Erie Auto Plus package that includes extras like a diminishing deductible, transportation expenses payments following a total loss, and increased coverage limits.

Foremost Signature

Foremost Signature is a member of the Farmers Insurance Group of Companies and operates in all 50 states and Washington, D.C. The insurer has more than 38,000 agents representing it throughout the U.S. Foremost offers car insurance through Bristol West, which accepts a range of drivers and driving histories.

The Best Car Insurance Companies in 2022

Foremost landed on our 10 Best Insurance Companies due to its hassle-free claims process and its willingness to insure high-risk drivers. Although Erie wasn’t among the top 10, the insurer rewards its policyholders with low premiums—especially those with clean driving records, driving experience, and strong credit ratings.

Compare Erie vs. Foremost Signature: Which Is Cheaper?

Erie offers cheaper car insurance than Foremost in just about every category that Insurify reviews. Drivers in every age group can expect to pay less for Erie car insurance than for Foremost. The same applies for drivers with various scores and drivers with good driving records. Not only is Erie cheaper than Foremost in all of these categories, but it’s the cheaper option by a significant margin.

The Cheapest Car Insurance Companies in 2022

Compare Erie vs. Foremost Signature Car Insurance by Age

Age is a key factor insurance companies look at when deciding whether to provide coverage. Insurers assume risk every time they sell a policy so they take steps to minimize that risk. Selling coverage to more experienced or older drivers is one way for insurance companies to do so. Drivers of all ages pay significantly less per month for coverage with Erie versus Foremost.

The gap is especially noticeable for teen drivers, where Foremost policyholders can expect to pay four times as much per month as they would with Erie. The disparity does not change much for the other age groups, either.

Compare Erie vs. Foremost Signature Car Insurance by Gender

Gender is another key factor in determining insurance rates. The difference between men’s and women’s car insurance rates doesn’t vary too much, but that variance depends on the insurer. Women often pay less for car insurance than men do, but there are no guarantees, as car insurance companies have different pricing methods.

Men and women Erie policyholders pay almost exactly the same amount per month for their auto insurance coverage. The same can be said for Foremost (women pay about $2 less per month). The big difference is between the insurance companies overall; Erie policyholders can expect to pay almost $80 less per month regardless of gender.

Which is cheapest for men?

Erie car insurance is significantly less expensive for men than Foremost, which costs almost $80 per month more on average. Meanwhile, Erie’s monthly premium is just over $30 less per month than the national average, while Foremost exceeds it by almost $50 per month.

Which is cheapest for women?

Similarly, women pay much less for their insurance premium with Erie than Foremost policyholders. Erie’s per-month cost for women is also well below the national average, while Foremost exceeds it by a significant margin (about $50 a month).

Compare Erie vs. Foremost Signature Car Insurance by Mileage

Car insurance companies will want to know how much you drive on average in terms of mileage. This is because they’re trying to assess risk. The more miles you drive, the longer you’re on the road, which increases your chances of getting into a car accident. Mileage is just one factor in determining a policy rate; a driver with a short commute but a poor driving record could possibly pay more than a driver with a long commute but a spotless driving record.

Which is cheapest for drivers with low mileage?

Just like with the prior categories, Erie car insurance is less expensive for drivers with high mileage than Foremost insurance. In fact, Erie policyholders can expect to pay less than Foremost drivers regardless of how many miles they drive annually.

Additionally, prices do not vary much for drivers within their respective insurance company, despite their annual mileage. For example, Erie policyholders who drive 5,000 miles per year only pay about a dollar more per month than those who drive 10,000, 15,000, and 20,000 miles annually.

There’s not much variance for Foremost drivers either; those who travel 5,000 miles a year only pay about $2 a month more on average than those who accumulate more mileage throughout the year.

Which is cheapest for drivers with high mileage?

Drivers with high yearly mileage should check out Erie as a potential car insurance option. The company’s $49 monthly rate is lower than both Foremost Signature and the national average, making it a great option if you travel long distances.

Compare Erie vs. Foremost Signature Car Insurance by Credit Score

Much like with getting a car or home loan, the better your credit score is, the more favorable your car insurance terms are going to be. Insurers view good credit as a sign of responsibility, which is what they’re looking for when providing coverage for drivers. However, you can use Insurify to find cheap car insurance rates even with a bad credit history.

Which is cheapest for good credit?

Both Erie and Foremost reward policyholders with good or excellent credit versus those with bad, but the difference in that reward is noticeable between the two insurers. Erie policyholders with excellent or good credit pay between $25 and $30 less per month than the national average, while Foremost drivers with similar credit standing pay between $40 and $50 more per month.

Which is cheapest for bad credit?

Drivers with average or poor credit can expect to pay more on their insurance premium, but Erie still costs much less for drivers with this credit standing. In fact, Erie policyholders with poor credit still pay almost $30 less per month on average than Foremost drivers with average credit.

Compare Erie vs. Foremost Signature Car Insurance by Driving Record

Your driving record is a significant factor in how much you pay for car insurance. A clean driving record indicates responsible driving, which can lead to a lower car insurance premium. Car insurance companies will consider how many tickets, car accidents, and DUIs you’ve had. Any of these violations will make you a risk in insurers’ eyes, and you’ll likely have to pay more for coverage.

Foremost and Erie are no exception when it comes to using driving records to set their rates. Policyholders for both insurers pay less on average per month if they have no speeding tickets, car accidents, or DUIs on their driving records.

Which is cheapest for good drivers?

Erie rewards drivers who have clean driving records with average monthly premiums that are almost $30 less than the national average. Erie insurance also costs almost $80 less per month than Foremost for drivers with a good driving record.

Which is cheapest after a speeding ticket?

Speeding tickets are almost always likely to increase car insurance premiums. They don’t look to affect Erie policyholders as much, however, as drivers with a speeding ticket still pay well below the national average. Comparatively, Foremost drivers with a speeding ticket pay almost $50 more per month than the national average.

Which is cheapest after an accident?

At-fault car accidents are another surefire way to increase one’s car insurance premiums. This is especially true for Foremost drivers who’ve been in an accident; they pay more than $100 more per month than the national average. Erie is also much less expensive than Foremost for drivers who’ve been in an accident.

Which is cheapest after a DUI?

Your safety, as well as other drivers’, is the main reason you should never drink and drive. It’s also illegal, and of course, an infraction will raise your car insurance rates. One of Erie’s highest rates listed is for drivers who’ve had a DUI. But it’s still cheaper than Foremost’s rate for drivers charged with the same infraction.

Erie vs. Foremost Signature Car Insurance: What discounts does each offer?

Erie Discounts

• Multi-policy

• First accident forgiveness

• Diminishing deductible option

• Vehicle storage

• Safety features

• Paid in full

• Youthful driver

• College student

Foremost Signature Discounts

• Automatic payments

• Paperless

• Good driver

• Multi-policy

• Multi-vehicle

• Teen driver

• Away at school

• Transfer

Our Methodology and How We Compared Erie and Foremost Signature

The car insurance quotes provided in Insurify’s insurance company comparison guides are based on the analysis of over 50 thousand insurance quotes from 500 ZIP codes nationwide. Insurify’s data science team performs a comprehensive analysis of factors car insurance providers weigh to calculate rates, including driver demographics, driving record, credit score, desired coverage level, and more to give representative samples.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating calculated by weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers a window into how insurance providers compare to one another in terms of both cost and quality.

Frequently Asked Questions