Elephant Insurance: The Inside Scoop

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About Elephant Insurance

Elephant Insurance Co. is headquartered in Henrico, Virginia. It sells auto insurance in Illinois, Indiana, Maryland, Tennessee, Texas and Virginia. Most of its business is in Texas (46%), Virginia (33%) and Maryland (16%), according to S&P Global Market Intelligence.

Auto insurance companies will typically insure more than one vehicle for a household, and Elephant notes this as one of its specialties.

You can buy other insurance through Elephant, such as homeowners and renters insurance, but the policy will come from other companies.

Elephant Insurance is owned by Admiral Group, a U.K.-based insurer.

Elephant Insurance options

Every insurance company must file its auto insurance rates and policies in each state where it operates. We reviewed many of Elephant's filings to bring you the inside scoop on coverage options, discounts, fees and surcharges.

Here's a look at whether Elephant offers certain additional auto insurance options.


SR-22 filings

Proof of financial responsibility.

Yes
Gap insurance
Also called auto loan/lease coverage. This can pay the difference between the value of a totaled or stolen car and what's still owed on a car loan or lease.
Yes
Usage-based insurance
Insurance with rates based on driving habits, such as hard braking.
No
Non-owner insurance

Liability insurance for people who don't own vehicles.

No
Rideshare insurance

Extra coverage for Uber drivers and others. Sometimes called transportation network coverage.

Yes
Source: EverQuote research. Product options might not be available in all states.

Also offered by Elephant Insurance

  • Accident forgiveness: Your rates won't go up after your first at-fault accident.
  • Diminishing deductible: The deductible for collision claims will continue to go down over five years until it reaches zero. You must sign up for this feature. Collision insurance covers your car's damage if you hit an object such as a sign post or fence.

Elephant Insurance discounts

We examined state filings to bring you details of Elephant's auto insurance discounts. Note that availability and discount details can vary by state.

Homeowner
A discount for customers who own their homes.

Responsible driver
For customers licensed for at least five years and with no drivers on the policy who have a "chargeable" accident in the five years before the policy effective date.

Accident prevention course
For drivers age 55 and older who complete an approved class.

Good student
For drivers age 16 to 24 who are single, full-time students and who have a B average or better, rank in the top 20% of their class, or meet other criteria.

Years at residence
A discount determined by how long you've lived at the same address and other factors.

Multi-policy

For Elephant customers who also purchase a homeowners, renters, condo, motorcycle or other policy through Elephant's partnerships with other insurance companies.

Multi-car

For insuring more than one vehicle.

Paid in full

For paying for the entire policy period in one sum.

Early bird
For new customers who buy a policy five or more days before the policy effective date.

E-signature
For customers who agree to sign policy documents electronically.

Paperless

For folks who agree to receive policy documents, bills and other communication electronically.

Elephant Insurance fees

Saving money is important to many insurance shoppers, so know about fees that could add to your total cost. Here are the types of fees charged by Elephant:

  • Financial responsibility filing fee: For customers who need a proof of insurance form filed with the state, such as an SR-22. The fee amount charged by Elephant varies by state but could be around $25 to $75. The fee is charged for each new policy and at each renewal.
  • Installment fee: Charged for each installment based on the type of payment plan you choose.
  • Late fee: For payments that aren't received before the grace period ends.
  • Insufficient funds fee: For automatic payments that can't go through due to lack of funds.
  • Reinstatement fee: For restarting a policy after it's been cancelled due to lack of payment.
  • Referral to debt collection agency: A fee when your debt goes to collections.
  • Fee for changing payment plans: A fee if you change from a recurring payment plan to a non-recurring plan during the policy period.

Elephant surcharges

Car insurance companies generally increase rates if you have certain problems, such as moving violations and at-fault accidents. Elephant will look back three years at customers' driving records for "chargeable" accidents and violations. These can lead to surcharges, including:

  • Accidents where you were wholly or partially at fault and where claim payments were above a certain amount such as $1,000.
  • Minor and major violations. Major violations include convictions for a DUI, reckless driving, failure to stop after an accident, driving with a suspended license and others.

Elephant's other possible surcharges apply to:

  • Ineligible drivers: A charge for customers who disclose an "ineligible driver" after the policy has been issued. Ineligible drivers are typically people with certain high risks.
  • Unverifiable driving record: A surcharge if a driving record can't be verified through a DMV.
  • International driver's license: A surcharge for drivers without a U.S. license but who have a valid international, foreign or State Department license.

Insurance filings source: S&P Global Market Intelligence

Posted Dec. 12, 2018

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