Elephant Auto Insurance Review

The customer-centric direct insurer Elephant Auto, based in Richmond, Virginia, was founded in 2009.

Elephant is a subsidiary of Admiral Group plc, which is an FTSE 100 company, as well as one of the U.K.’s leading insurers for 6 million drivers in eight countries.

Elephant Auto is a direct auto insurer which functions primarily as an online insurance company, enabling customers to get auto coverage either via the company’s website or by calling a licensed agent.

It offers online quotes for convenient comparisons, and customers can also learn about the claims process, file claims directly online, and check the status of previously filed claims.

Elephant Auto Insurance Review: Top Highlights

elephant auto insurance logoTo find out how much car insurance costs, consumers should take the time to understand the different types of possible coverage offered by Elephant Auto:

  • Collector Car Insurance: Collector car insurance is protection for vehicles used in car shows, selective afternoon drives, and other special events. It’s definitely not meant for your primary vehicle. Antique, limited-edition, exotic, or military-grade vehicles can all be classified as collector cars.
  • Emergency Road Service Coverage: This protection is for problems that are not typically covered by your auto insurance, such as a dead battery, towing not related to an accident, being locked out of your car, a flat tire, and running out of gas.
  • Medical Payments Coverage: This optional coverage pays medical expenses related to an automobile accident. It’s subject to the terms, limits, and conditions of your policy.
  • Bodily Injury Liability: This pays for injuries and death that may occur because of an accident caused by you or another person driving your car.
  • Property Damage Liability: This coverage reimburses others for damage to another vehicle or property such as utility poles or fences in an at-fault accident.
  • Collision: This optional coverage pays for damage to your car because of a collision with another vehicle or other object in an accident you cause. Collision policies also protect you from damage caused by driving incidents that are not accident-related, such as pothole damage.
  • Comprehensive: This policy option takes care of theft and damage due to a non-collision event, including most natural hazards.

Claims Satisfaction

After you sign up for a policy with an Elephant Auto representative, you might not deal with the company again for weeks or months, until you’re faced with a considerable life change, such as needing to add another driver, new car, additional car, or teen drivers to your policy, or you may call or email the company regarding occasional billing questions.

Otherwise, most drivers won’t speak with an Elephant representative unless they have to file a claim. We, therefore, found that Elephant Auto insurance reviews put a lot of emphasis on how the insurer deals with customers and their claims.

Market research firms such as J.D. Power rank insurers based on many factors, including three key performance indicators used by most rating firms that evaluate the claims process. These KPIs are communication, ease of service interaction, and timeliness of responses.

Though Elephant Auto is not included in the J.D. Powers ratings, consumers looking into the company should consider these elements, and try to parse out this information when they read reviews.

Elephant Auto insurance reviews by customers are available on Yelp and via the Better Business Bureau (BBB).

The BBB profile shows that Elephant is accredited by the organization, and the company received an A+ from consumers, based on 51 reviews placed since 2015. Yelp shows little enthusiasm for the company due to 31 complaints filed since 2015.

Overall Customer Satisfaction Review

When drivers are looking for a new auto insurance company, one of the things they should consider is how satisfied current customers are with their coverage.

Every interaction the company has with its clients impacts the overall customer satisfaction rating, whether online, in person and direct mail contacts.

How Elephant manages complaints largely determines how the customer views the company and ultimately, whether they’re willing to recommend the insurer to a friend or family member.

In the J.D. Power shopping study, Elephant Auto insurance ratings are not available, but many other companies are ranked for their performance in these categories: Policy Offerings, Price, Billing Process, Interaction, and Claims.

The National Association of Insurance Commission shows a very high complaint ratio of 2.79 based on an average of 1, with 55 complaints filed against Elephant Auto (NAIC #13688) in 2017.

Pricing

All car insurance policy prices depend on several factors such as the driver’s age, gender, driving history, geographic location, and the make and model of their car.

It can be helpful to look at different driver scenarios, if only for comparison purposes, and to get a better idea of what your car insurance rate might look like.

The Maryland Insurance Administration has created a guide to allow drivers to compare insurance rates for several companies based on scenarios.

  1. Scenario One: Young single male, age 23, rents an apartment, drives a 2009 Honda CR-V, and drives 15,000 miles annually, with no accidents or violations in the past three years, no credit history (where applicable), no companion policy discount, and full coverage
  2. Scenario Two: Young single female, age 23, rents an apartment, drives a 2009 Jeep Liberty Limited, and drives 15,000 miles annually, with one speeding ticket 19 months ago for traveling 10 miles over the speed limit, no credit history (where applicable), and no companion policy discount

For scenario one, Elephant insurance charges an annual premium of $2,829 in Allegany County, while GEICO costs $992. The highest premium for this scenario is by Foremost Insurance Co at $5,753, while the lowest is by Meridian Security Insurance Co at $891.

In Allegany County, Elephant insurance charges an annual premium of $3,738 for scenario two. The highest premium for this scenario is by National General Assurance Co. at $5,546, while the lowest is by GEICO at $1,116.

Financial Strength

Many consumers forget to consider how a company’s financial strength and stability impact its ability to pay existing and new claims.

However, it’s a vital part of an auto insurer’s reliability. Otherwise, there’s no telling whether an insurer has the ability to pay its outstanding obligations.

The Insurance Information Institute provides important information on how to research Elephant Auto insurance reviews from five independent companies.

A.M. Best doesn’t rate Elephant Auto insurance or its Admiral Group parent.

However, Moody’s Investors Services gives Elephant (via the Admiral Group) an A1, with a stable ranking. It’s also possible to obtain financial statement information from the NAIC website so an independent third party can review them for stability.

In sum, use the above information to help you decide whether Elephant Auto insurance ratings increase your confidence in choosing it as your insurer.

Make sure to pay close attention to its nearest competitors and the top insurers in your market to get the best insurance for your vehicle.

*While we make every effort to keep our site updated, please be aware that “timely” information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.