Erie Rate Lock does not end on its own — it stays in effect as long as you don’t make a policy change, so your premium only moves when you add a vehicle, change drivers, move, or have an at-fault claim.
Written by Blake Boswell, owner of the Boswell Insurance Agency, Murray, KY.
How Rate Lock actually works
Erie Rate Lock is a feature that holds your auto premium flat at renewal. Unlike traditional carriers who raise rates annually based on market conditions, Erie doesn’t move your renewal premium unless the underlying policy changes.
What triggers a rate change
Adding or removing a vehicle, adding a driver (especially a teen), moving to a new address, an at-fault accident or major violation, or a coverage change (like raising liability limits) will cause the premium to be re-rated. Small changes like paying off a car loan or minor address updates typically don’t trigger a re-rate.
What doesn’t end Rate Lock
General market inflation, other Erie customers filing more claims, or Erie’s overall rate filings do NOT push your premium up. That’s the whole point of Rate Lock — insulation from carrier-driven rate hikes.
How to keep Rate Lock working for you
Avoid unnecessary policy changes if you’re happy with your coverage. When a change is required (new vehicle, teen driver), understand the new premium will be your new Rate Lock baseline. Call us if you’re planning a change and want to know the impact ahead of time.
Get a quote
Call (270) 925-1524 or start a quote at theboswellagency.com/quote. See our 136 five-star Google reviews (5.0 stars).
