Elephant Auto Insurance Review: Costs and Coverage (2022) - MarketWatch

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*Ratings are determined by our Home Media reviews team. Learn more about our scoring methodology below.

Elephant auto insurance is known for offering affordable rates for one-year insurance terms. While many drivers approve of Elephant’s coverage and costs, the provider isn’t the right choice for everyone.

We at the Home Media reviews team have looked at the best car insurance companies to discover which ones do the best job of mixing quality coverage with affordability. Now, we’ll carefully consider Elephant auto insurance, examining its average costs, insurance policies and customer reviews.

About Elephant Insurance

Elephant Insurance has been in business since 2009 and is headquartered just outside of Richmond in Henrico, Va. The company typically offers cost-effective rates to its policyholders and a wide range of discount opportunities.

In addition to Elephant auto insurance, customers can bundle their policies with homeowners insurance, renters insurance, motorcycle coverage, life insurance and umbrella coverage. Those who buy multiple coverages from Elephant may receive a multi-policy discount on their insurance premiums.

Elephant Insurance has relatively slim availability, with only those drivers who live in these states able to get coverage:

Georgia
Illinois
Indiana
Maryland
Ohio
Tennessee
Texas
Virginia

In light of Elephant’s A+ rating from the Better Business Bureau (BBB), though, drivers from these states may want to explore the options from this insurance provider.

Elephant Auto Insurance Pricing and Discounts

Motorists often pick Elephant coverage in hopes of finding cheap car insurance. Generally, the company’s rates are lower than the competition, though this depends on the driver.

We reached out to Elephant Insurance for quotes for a 35-year-old driver with a clean driving record in the Chicago suburbs. The following rate estimates are for full coverage car insurance:

While these rates are slightly below average for car insurance in Illinois, they’re likely not the cheapest rates possible. The easiest way to find your most competitive rates for auto coverage is to compare car insurance quotes from multiple providers.

Factors that Affect Car Insurance Rates

Like nearly every auto insurance provider, Elephant uses personal details and information about your vehicle when determining your premium. Here are some of the factors that can affect the cost of Elephant auto insurance:

Location: Rates vary across state lines, but prices are also generally lower in rural regions than in cities in the same state.
Driving history: Drivers with clean driving records will see the lowest rates. Those with at-fault accidents, tickets or moving violations will likely pay more for car insurance.
Coverage: Prices will vary based on your desired types and amounts of auto insurance. A minimum coverage policy usually costs substantially less than one with extensive protection.
Vehicle type: Insurance companies set different rates for each car model, with luxury vehicles and sports cars typically costing the most to insure.
Age: Younger drivers are statistically more likely to be involved in accidents, so they almost always pay higher rates for auto insurance.
Credit history: You’ll get lower car insurance premiums if your credit history shows that you pay bills on time and are in good financial standing.

Factors that affect car insurance rates

Drivers who have avoided speeding tickets, DUI violations and at-fault accidents will find Elephant auto insurance’s most competitive pricing. It’s also possible to find lower rates if you maintain a strong credit score or opt for a lower amount of car insurance coverage.

Elephant Auto Insurance Discounts

Younger drivers and those with accidents or tickets on their records often have issues finding affordable car insurance rates. You may be able to reduce your costs considerably through the car insurance discounts offered by Elephant. Below are a few of the most common:

Since Elephant auto insurance is known for its affordable rates and wide variety of discounts, it’s worth checking with the company about further savings. The easiest way to discover if you qualify for discounts is to get free car insurance quotes online.

Elephant Auto Insurance Coverage

Elephant auto insurance comes with the standard types of car insurance offered by nearly all providers. We’ll list the six most basic types of coverage below:

Additional Coverage Options

You’ll also find a few less common coverage types through Elephant auto insurance. Not every add-on is necessary for each Elephant auto insurance policy, so carefully research these coverage choices before adding them.

Elephant Auto Insurance Reviews

Elephant Insurance receives an average of 4.2 stars out of 5.0 on Google from over 2,800 reviews, but it also holds a nearly 1.2-star average from reviewers on the BBB site. On the other hand, the BBB gives Elephant an A+ rating and has given it accreditation since 2015.

Drivers commonly praise Elephant auto insurance for its extremely competitive rates, though some drivers speak of steep price increases over time. It’s smart to regularly compare car insurance rates to make it easier to determine the best prices for insuring your vehicle.

There are also checkered reviews of the claims process from Elephant Insurance. Common critiques include the company’s refusal to cover certain car repairs and some issues with inefficient and hard-to-reach insurance agents.

Elephant Insurance reviews seem to indicate that motorists have hit-or-miss experiences when working with the provider. While some believe Elephant is worth it for the discount rates, many prefer the peace of mind that comes from a more established insurance provider.

Our team reached out to Elephant Insurance for a comment on its customer service and claims satisfaction scores but did not receive a response.

Bottom Line on Elephant Auto Insurance

We give Elephant auto insurance 7.6 stars out of 10.0 for its outstanding prices and expansive coverage choices. The company doesn’t receive the strongest scores from Elephant customers, though, and it’s only available in eight states.

It’s good to compare quotes from car insurance providers before selecting one to cover your vehicle. That way, you’ll be able to learn whether Elephant auto insurance is best for your needs or if it may be better to pick another provider.

Different Types of Insurance Offered

You’ll be able to bundle multiple insurance options with your car coverage if you’re looking to reduce your rates with Elephant. The company can provide the following types of insurance:

Homeowners insurance
Renters insurance
Condo insurance
Off-road vehicle coverage
Motorcycle insurance
Life insurance
Umbrella insurance

While insurance customers pay more for additional coverage types, these options typically come cheaper when they’re bundled together. Regardless of which insurance provider drivers select, it’s recommended to purchase most insurance products from one company.

Other Options for Car Insurance

Elephant auto insurance may be a good choice for drivers searching for cheap coverage, but it’s far from the only option. It’s best to consider multiple car insurance options before settling on one, as it could lead to more competitive rates.

Geico: Editor’s Choice

Those looking for cheap rates from an established car insurance provider should check out coverage from Geico. The company received an above-average score in the J.D. Power 2021 U.S. Auto Claims Satisfaction Study^SM and has an A++ financial strength rating from AM Best.

Keep reading: Geico insurance review

USAA: Low Rates for Military

USAA offers affordable rates and excellent service to active and retired military members and their families, earning it our Low Rates for Military award. The insurance provider received the highest score in every region of the U.S. in the J.D. Power 2021 U.S. Auto Insurance Study^SM.

Keep reading: USAA insurance review

Our Methodology

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.

Here are the factors our ratings take into account:

Cost (30% of total score): Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
Coverage (30% of total score): Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
Reputation (15% of total score): Our research team considered market share, ratings from industry experts and years in business when giving this score.
Availability (10% of total score): Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.
Customer Experience (15% of total score): This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by J.D. Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.

*Data accurate at time of publication.

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