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Elephant insurance review 2024

Updated Mar 14, 2024
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Bankrate's take

Policyholders with less-common auto insurance needs, such as non-owner insurance or policies for leased vehicles, may benefit from getting a quote from Elephant. However, the company’s service area is limited.

Those who want to manage their insurance policies and claims online. They may appreciate the perks Elephant offers, including e-signature, online quotes and work-from-home discounts.

Answer a few questions to see personalized rates from top carriers

Elephant car insurance

According to Bankrate’s analysis, drivers who are seeking less-common types of add-on car insurance coverage may find Elephant to be a good choice. Elephant was founded in 2009 and began as strictly an auto insurance company. It offers the standard suite of car insurance policy staples but also has an array of add-on options to consider. Among those options is non-owner car insurance for drivers who don't have their own vehicle and custom parts and equipment coverage for custom or modified cars. However, Elephant only writes auto insurance policies in eight states.

Pros and cons of Elephant car insurance

Like most products, Elephant’s car insurance has upsides and downsides. We explore a few below:

Pros
  • Advertises a multitude of potential discount opportunities

  • Allows bundling of Elephant auto insurance with some non-Elephant insurance products

  • Offers several less-common auto insurance add-on options

Cons
  • Availability limited to eight states

  • Unusually high level of complaints with the National Association of Insurance Commissioners (NAIC)

Elephant car insurance cost

Average premiums for Elephant auto insurance are not available. The current national average cost of car insurance is $2,545 per year for full coverage and $741 per year for minimum coverage. Comparing quotes from multiple insurers can help ensure you purchase your policy at a competitive rate.

It’s important to remember, though, that rates vary based on a number of personal rating factors, such as your ZIP code, the make and model of your vehicle, driving history and even your age (in most states). As such, it may be helpful to get a personalized quote to learn what your costs may be.

Elephant car insurance discounts

Many of the best car insurance companies offer discounts to help you significantly lower your car insurance premium. Elephant advertises that drivers can save up to 40 percent on their car insurance by taking advantage of its long list of discounts, many of which may not be found with other car insurance carriers. This could make Elephant a competitively cheap insurance company for some drivers.

Discount opportunities include:

You may earn a discount if you refer a friend or family member to the company and they purchase a policy from Elephant.
Asking for your quote via the company's website may earn you some savings on your premium cost.
Those who work from home and thus drive less may earn a policy discount.
When drivers pay their entire year of premiums up front, they may receive a discount.
E-signing saves the company time and money and could therefore earn you a discount.
Shopping before your insurance renewal date? This discount rewards proactive customers who switch carriers to Elephant ahead of schedule.
If you own your home, you may qualify for a homeowner’s discount on your car insurance policy with Elephant.
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Elephant home insurance

Elephant offers homeowners insurance coverage through its partner company Homesite. Standard policy options are on offer, such as personal property coverage, liability and medical payments. Dwelling coverage is also included.

Similar to Elephant’s auto policies, add-on options are available to customize coverage. These options include identity theft protection; personal injury protection for lawsuits alleging libel, slander or invasion of privacy; and valuable items coverage for luxury items like furs and jewelry. Extended replacement cost coverage is also available for the dwelling itself.

Pros and cons of Elephant home insurance

There are several pros and cons of Elephant homeowners insurance for prospective customers to consider:

Pros
  • Numerous potential discounts on offer

  • A range of add-on options are available

Cons
  • No mobile app for policy management or claims filing

  • Does not write its own homeowners policies

Elephant home insurance cost

Average premiums for a Homesite homeowners policy are not available. The best way to find out how much you can expect to pay is to compare quotes from multiple companies.

For comparison purposes, the current national average annual premium for $250,000 in dwelling coverage is $1,759. However, your rate may vary due to factors like where you live, how big your house is and whether any renovations or updates have been completed. Keep in mind that depending on your coverage needs, the cheapest insurance will not always provide the best financial protection.

Elephant home insurance discounts

While Elephant does not underwrite its own home insurance policies, it does offer multiple discounts for drivers with existing car insurance with Elephant. Other Homesite discounts may include:

If your roof is less than 10 years old or you plan to build a new roof in the near future, this discount could be added to your policy
If you recently purchased a new home, you could be eligible for this discount.
This discount could be added if your home is a new construction or was recently built.
This discount may be available to customers who are retirees or above a certain age.
This discount rewards customers who install alarm systems or other security features.
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
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Insurance Disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Quick Facts
Moneybag
$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
Insurance Home
1 out of every 20
insured homes makes a claim each year
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100% of homes
need insurance before getting a mortgage
Mortgage

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Elephant life insurance

Similar to its homeowners insurance, Elephant does not underwrite its own life insurance. Instead, Elephant life insurance is offered through its partner company Ladder. The only available option is term life insurance, which may be a draw to those who want a cost-effective method of protecting their loved ones. Perks of Ladder life insurance through Elephant include a quick online application with no required medical exam.

Pros and cons of Elephant life insurance

Customers looking to bundle their insurance coverage and add term life to a variety of other policies may find convenience in purchasing Ladder coverage through Elephant. While life insurance is limited to term policies only, the convenience factor and potential bundling discount could make this a solid option.

Pros
  • Offers term life policies

  • Does not require a medical exam

  • Coverage decision available in minutes

Cons
  • Only offers one type of life insurance policy

  • Does not underwrite its own life insurance policies

Elephant life insurance endorsements

Many of the best life insurance policies offer numerous coverage options to personalize the policy. While Elephant does not indicate which specific endorsements are available, it does state that policyholders can choose from different coverage limits and payment plans.

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Compare Elephant with other insurers

Finding the right insurance can be tricky and depends on several personal variables. That's one reason why it's often helpful to shop around between multiple insurers when looking for a policy. Below are some possible alternatives to Elephant when considering insurance.

Elephant vs. Metromile

While Elephant offers discounts for low-mileage drivers, like its work-from-home discount, some companies specialize in low-mileage car insurance. Metromile is one such company, and it could be a good choice for drivers who want auto coverage but drive minimally and want to see that reflected in their rates.

Elephant vs. Progressive

Elephant offers a robust suite of auto insurance options, including add-on coverage options, but it does not have an app to make things more convenient for its customers. Progressive is one of the larger insurance companies, and it offers auto, home and life insurance. Progressive also has a free app and other digital tools. People who prioritize digital tools and apps and are looking for these types of insurance policies may prefer Progressive over Elephant.

Learn more: Progressive Insurance review

Elephant vs. Farmers Insurance

Customers can get auto, home and life insurance through Elephant, but home and life policies (as well as some specialized types of auto) are underwritten by partner companies. Farmers offers these types of policies in-house while maintaining several discount and customization options. Those who want to purchase all their insurance policies from one company and like customization options for home and auto may prefer Farmers to Elephant.

Learn more: Farmers Insurance review

Is Elephant a good insurance company?

Elephant insurance may be a good option for the right customers. The company offers auto, home and life insurance products, although some of these policies are underwritten by partner companies. Auto policies come with several add-on options that may be hard to find at some other companies, and Elephant offers several potential discounts.

Still, Elephant insurance products are only available in eight states, and Elephant car insurance reviews are mixed — the company has received a relatively high number of NAIC complaints. Customers who are in the service region, qualify for discounts and don't mind the rate of NAIC complaints may find Elephant to be a good company.

Elephant customer satisfaction

Third-party rating companies, such as J.D. Power and AM Best, review insurance companies and analyze specific factors like customer claims satisfaction and financial strength. These ratings can help prospective customers determine which company is best for them. Another helpful metric is the relative number of complaints filed with the NAIC.

Study or Rating agency Elephant Industry average
2023 J.D. Power Digital Experience Study - Service Not scored 702/1,000
2023 J.D. Power Digital Experience Study - Shopping Not scored 521/1,000
AM Best rating A+ (Superior) N/A

Elephant auto claims satisfaction

J.D. Power doesn’t include Elephant in its ratings. However, it is worth noting that Elephant’s financial strength is lauded by AM Best, indicated by its A+ rating.

Elephant auto complaints

The NAIC assigns complaint index scores independently for each insurance coverage type (private passenger, homeowner, individual life, etc.). Complaint indexes vary within companies depending on the product being ranked and its correlating customer service.

Elephant has a ratio of NAIC complaints well above the national median. Its overall NAIC ratio is 2.39. Companies with ratios over the baseline of 1.00 have a higher number of complaints, while those under this number have fewer.

Other Elephant tools and benefits

Elephant offers other types of insurance in addition to auto, home and life insurance. These include:

  • Motorcycle insurance: If you own a motorcycle, Elephant can provide coverage through its partner company, Dairyland.
  • Mobile mechanic: Elephant’s YourMechanic function helps make it easy to find service for your vehicle, allowing you to book repairs or maintenance appointments online at a discounted rate. The service covers more than 600 repair options, from oil changes to battery replacement.
  • Roadside assistance: You can digitally track your service provider when you use the company's roadside assistance service, which offers towing, battery jumps and more. Assistance is available 24/7.
  • ATV and off-road vehicle insurance: If you own an off-road vehicle, such as an ATV, golf cart or other recreational vehicle, Elephant can provide coverage. Renters insurance: Renters can purchase insurance to help financially safeguard their belongings while they live in a rental property.
  • Condo insurance: Elephant offers insurance for condominium owners through its partner company Homesite. These policies are designed to cover the unit’s interior.
  • Umbrella insurance: For those who feel safest with extra coverage, umbrella policies are available to cover property owners, people with pets or those with significant assets they’d like to insure.
  • Legal resources: For a small monthly fee, policyholders can access attorney services at a discount. This includes assistance for such services as family law (e.g., divorces, adoptions, etc.), wills and trusts, real estate and even 100 percent coverage for an attorney fee related to one traffic violation per year.

Frequently asked questions about Elephant

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Written by
AJ Dellinger
Contributor, Personal Finance

AJ Dellinger is a contributing writer for Bankrate. AJ writes about auto loans and real estate.

Edited by Editor, Insurance
Reviewed by Director of corporate communications, Insurance Information Institute