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Elephant 2019 Auto Insurance Review: Rates, Claims Satisfaction, and Coverage

BravoDollar Editor rating:

Summary:   

Founded in 2009, Elephant Insurance is a direct-buy insurer with automobile insurance rates that are supposed to be competitive.  The company, based in Virginia, sells insurance in six states. Elephant Insurance’s parent company is The Admiral Group, one of the United Kingdom’s largest insurance providers.  Elephant Insurance, however, has more than the average number of complaints for a company its size and only offers very basic car insurance options. Thus, Elephant Insurance is not suited for most drivers.

Pros:

  • Accredited by the Better Business Bureau since 2015 with an A+ rating.
  • Offers 24/7 claims service and roadside options.
  • It’s parent company, The Admiral Group, has Superior financial strength with an A.M. Best rating of A+

Cons:

  • Only provides auto insurance in six states.  These states include Illinois, Indiana, Maryland, Tennessee, Texas, and Virginia.  
  • The company has almost three times the median number of complaints according to the National Association of Insurance Commissioners.
  • The Better Business Bureau has recorded a number of complaints about the company as well.

Although Elephant Insurance may seem like an auto insurance company that you should be willing to consider at first, it has a strong well-known parent company with excellent financial strength and an A+ rating from the Better Business Bureau, when you take a closer look at this auto insurance company it give you a number of reason to be cautious.  Elephant insurance’s primary shortcoming is that it lacks coverage options. The type of coverage that an auto insurance company offers is important but normally not even an issue because most auto insurance companies offer the same coverage with each company throwing in a few extras. Elephant Insurance does not offer the same coverage as most auto insurance companies.  It offers far fewer options. Additionally, the company has a number of complaints with the BBB and higher than the median number of complaints according to NAIC.  For these reasons, you should be cautious if you consider Elephant Auto Insurance for your car insurance

Nonstandard drivers, such as new and young drivers, drivers with tickets or accidents, and people with poor credit might find Elephant Insurance competitive.

The Valuation Equation ($$$)

The cost of auto insurance is very important to the consumer when shopping for auto insurance.  There are a number of factors that go into your auto insurance rate which include the company’s rate range, your age, your location, your vehicle type, your coverage options, and your driving history.

To get a quote from Elephant Insurance, you can go to the company’s website.

For a regular driver, average rates of Elephant Auto Insurance a bit cheaper (8%) than the average in the states where Elephant operates; it is 43% cheaper than Farmers. However, the company does charge customers more than Geico, Progressive, and State Farm. If drivers go with Geico, they would save to 37%.

 Annual premiumMonthly premiumCompared to Elephant
Geico$986$82-37%
Progressive$1,129$94-28%
State Farm$1,385$115-12%
Farmers$2,238$18743%
Elephant$1,568$1310
The average$1,698$1428%

Above is the average rates of these insurance companies in 4 cities: Dallas, TX; Alexandria, VA; Baltimore, MD; and Indianapolis, Indiana for a 40 year-old male driver with good credit.

Discounts

Elephant Insurance offers discounts to current and future policyholders to help them save some money on their insurance premium. These discounts include:

  • Get an online quote and save 15%
  • Good student discount
  • Multi-Car
  • Bundling
  • Full/Automatic Payment
  • Safe Driver
  • Electronic Signature

Like with other auto insurance companies, the discounts that you qualify for with Elephant Insurance are mostly determined when you obtain the policy; however, you can add discounts you become eligible for later to save on your rate.  Just like with any other car insurance company, you must remain qualified for the discounts that you receive throughout the life of the policy to maintain the discounts.

Claims Satisfaction

An auto insurance company’s claims satisfaction rating is just as important as price when shopping for quality automobile insurance.  Elephant Insurance is not rated for claims satisfaction on any of the J.D. Power surveys.

How easy is it to file a claim with Elephant Insurance?

  • File a claim through the website on the company’s website.
  • File a claim by calling 1-844-5353
  • File claims by email at Claims@elephant.com
  • You can report a claim by faxing 1-804-955-1722
  • Contact the claims department by mail:  PO Box 5205, Glen Allen, VA 23058.

What is the average customer experience and satisfaction with Elephant Insurance?

Elephant Insurance has a strong parent company, a good reputation, a A+ from the Better Business Bureau, and a number of different ways in which its customers can get in touch with its claims department.  The company even has a Claims Process Guide to walk you through the steps of reporting a claim and following up with it. This seems to suggest that this insurance company handles claims to its customers satisfaction; however, this may not actually be the case.  

Elephant Insurance has a number of complaints with the BBB for a company its size that are not reflected by its score.  Furthermore, the company has almost three times the median number of complaints according to the National Association of Insurance Commissioners. This should warn customers to beware of this insurance company. It may be best to steer clear of the company and go with a more reputable one with a better claims handling process.

Coverage Options

Elephant Insurance does not offer its customers a wide selection of coverage options.  Instead, the company only offers the basic coverage. Furthermore, the company does not list its coverage options on its website. However, we believe the coverage types the company offers includes:

  • Bodily Injury Liability
  • Property Damage Liability
  • Diminishing Deductible – The company claims that you can save up to $500 on your deductible when enrolled.
  • Roadside Assistance
  • Accident Forgiveness
  • GAP Insurance

Thus, the coverage offers that Elephant Insurance offers for auto insurance meet the state minimum for liability insurance, and you can get higher coverage limits; however, the company does not offer collision or comprehensive which is standard for most traditional auto insurance companies.  

Other Insurance

In addition to car insurance, Elephant Insurance also offers homeowners insurance, renters insurance, condo insurance, and umbrella insurance. Furthermore, the company offers motorcycle insurance and life insurance.

Website Experience

Elephant Insurance offers its customers a nice-looking website; however, it is missing some significant information.  There is no mention of the coverage that the company offers on its website. Additionally, all the discounts that the company offers are not on the website.  You can, however, file a claim and log in to your account online.

The Bottom Line

The bottom line is that Elephant Insurance is a small insurance company with very few coverage options, it does not even have the best rates, and its claims handling is questionable.  Although its parent company, The Admiral Group, may be a good selection for people in the United Kingdom, there seems to be little reason for people to seek auto insurance from its subsidiary Elephant Insurance.  Nonstandard drivers who have trouble finding insurance elsewhere are the only one who should consider this auto insurance company.

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