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Elephant Insurance

Updated Aug. 23, 2022
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At a glance

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Elephant could be a good option if you’re looking for a car insurance policy with unique add-on options. Elephant is only available in seven states though, so the breadth of its coverage is limited.

Pros

  • Unique policy add-ons for its car insurance policies
  • Auto policyholders have the option to purchase home and life insurance through Elephant’s partner carriers and still receive a multiple policy discount

Cons

  • Not rated by J.D. Power for customer satisfaction or by AM Best for financial strength
  • Regional carrier that is only available in seven states
  • National Association of Insurance Commissioners (NAIC) score indicates that the company receives three times as many complaints compared to the average expected of similar insurance carriers
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Founded in 2009, Elephant Insurance may be a relative newcomer to the insurance industry but has distinguished itself with its wide range of coverage options for auto insurance and its policy management tools. The company has since branched out to offering other types of insurance, like homeowners and life insurance, through its partner companies. If you want to take advantage of coverage options not found at other carriers or prefer to manage your policy online, Elephant Insurance might be worth a look.

While Elephant got its start with auto insurance, customers can now also purchase other insurance products and earn a multiple policy discount at the same time. However, Bankrate’s Elephant Insurance review revealed that Elephant does not underwrite many of these types of policies, indicating that policyholders may need to do additional research on various companies to determine if it is the right fit for their needs.

As a regional carrier, Elephant is not available in all states. Currently, Elephant only operates in Georgia, Illinois, Indiana, Maryland, Ohio, Tennessee, Texas and Virginia.

Elephant car insurance

While Elephant car insurance includes all the standard car insurance coverage options, such as liability as well as comprehensive and collision coverage, the company also has a few unique options. For financed cars, drivers can add loan or lease coverage to their policy to cover the difference between what is owed to the financial institution and what the car is worth after a total loss. Elephant also offers non-owner car insurance, which is ideal for drivers who have a driver’s license, don’t own their own vehicle and only occasionally drive, as well as custom parts and equipment coverage for cars that have been modified to include aftermarket and custom additions.

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Drivers who are concerned about cost can add a diminishing deductible option to their policy, as well as potentially benefit from Elephant’s upgraded accident forgiveness. Unlike other car insurance carriers, Elephant offers this to policyholders from the moment the policy is initiated. Drivers can also purchase pet coverage for any pets riding in the vehicle, roadside assistance and rental reimbursement.

Elephant car insurance cost

The national average cost of car insurance is $1,771 per year for full coverage, while minimum coverage is $545 per year. While average premiums for Elephant auto insurance are not available, knowing the national average could be helpful for comparison purposes. Keep in mind that your insurance rates may vary depending on car insurance rating factors, such as where you live, the type of car you drive and your actual mileage.

National average annual full coverage premium
Clean driving history $1,771
Speeding ticket conviction $2,138
At-fault accident $2,521
Adding a teen driver* $3,852

*Teen rates reflect the cost of a male or female 16- or 17-year-old driver and their married parents on one full coverage car insurance policy.

Elephant car insurance discounts

Many of the best car insurance companies offer car insurance discounts to help you significantly lower your car insurance premium. Elephant advertises that drivers can save up to 40% 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. Some discounts include:

Elephant car services

Drivers insured with Elephant have access to some unique car services. One program is YourMechanic, which sends car mechanics to a driver’s home or work address to service their vehicle. Elephant policyholders are eligible to receive a discounted rate and a 12-month, 12,000-mile warranty is provided on all work performed.

A second unique offer is Elephant’s Legal Resources Plan. This add-on coverage would cover attorney fees related to a minor traffic violation once per year. Additionally, policyholders could receive a 25% discount for other legal services such as will preparation, elder law issues, tenant/landlord disputes and more.

Elephant home insurance

Elephant home insurance is offered through its partner company Homesite. Standard homeowners insurance options such as personal property coverage, liability and medical payments coverage are available in the policy. Dwelling coverage is also included, and policyholders have the option to select extended replacement cost, which could give an additional 25% or 50% of the dwelling coverage amount if, in the event of a loss, the dwelling coverage amount is not enough to repair the home.

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Other add-on options to further personalize the policy are available too. Homeowners can include identity theft coverage, which would provide up to $15,000 for any damages related to identity theft. They can also add personal injury for lawsuits alleging libel, slander or invasion of privacy and valuable items coverage for high-value personal property like furs and jewelry.

Elephant home insurance cost

While average premiums for a Homesite homeowners policy are not available, the national average cost of homeowners insurance is $1,312 for $250,000 in dwelling coverage, according to 2021 rate data pulled from Quadrant Information Services. When looking for the best homeowners insurance company for your needs, knowing the national averages could help for comparison purposes. This is especially true given that actual rates may vary due to factors such as where your house is located, its size and any renovations or updates that have been completed.

Dwelling coverage limit National average annual premium
$150,000 $898
$250,000 $1,312
$350,000 $1,723
$450,000 $2,148

Elephant home insurance discounts

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

Elephant home services

Elephant and Homesite do not indicate if policyholders have access to additional home services.

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, Life Direct. 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. A few perks of Life Direct and Elephant life insurance include a quick online application with no required doctor’s appointment and, if qualified, coverage can be initiated immediately.

 

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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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Elephant life insurance endorsements

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

Elephant life services

Elephant does not specify if life insurance policyholders can access any additional services.

Other Elephant perks worth considering

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

  • Motorcycle insurance: Through Dairyland, another Elephant partner company, motorcyclists can build personalized insurance coverage for their needs.
  • Condo insurance: Elephant condominium insurance is also offered through Homesite, just like its homeowners insurance. This type of insurance is specifically for condominium unit owners, as it insures the interior of their unit.
  • Renters insurance: As a renter, this type of insurance could be useful in insuring your personal belongings, as well as providing liability coverage and loss-of-use coverage.

Elephant corporate sustainability

Elephant has partnered with several organizations to support community and youth programs. In 2021, the company donated $300,000 to Helping Herd, an initiative that helped employees in various organizations and programs that had either been impacted by COVID-19 or were working to support COVID-relief efforts in the community.

For its youth-driven programs, Elephant supports Project Yellow Light, a scholarship competition that awards teens for highlighting the perils of distracted driving through films, radio and billboards. Elephant also is heavily involved in youth sports programs such as LeagueSide, Richmond Flying Squirrels and Richmond Kickers.

Not sure if Elephant is right for you? Consider these alternatives

  • Metromile: Low-mileage drivers who want another option for cheap car insurance could consider quoting from Metromile.
  • Progressive: Drivers prioritizing a mobile app and online portal accessibility may find another good option in Progressive.
  • Farmers Insurance: Farmers’ homeowners insurance policy offers robust options for homeowners that want to personalize their insurance coverage.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 and 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

Auto

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our sample drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.

Teens: Teen rates were calculated by evaluating average rates for a 40-year-old male married to a 40-year-old female who own their own home with a 16- or 17-year-old driver (male or female) on their policy. Age is not a contributing rating factor in Hawaii and Massachusetts.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.

Homeowners

  • Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

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