Alyssa Lane
Elephant Insurance offers car insurance with a range of features, including roadside assistance and discounts for safe driving. While Elephant Insurance does not charge a cancellation fee, there are reports of customers being charged a payment reversal fee. This fee may be related to the cancellation of a policy, as some customers have reported being charged a fee for cancelling their insurance. In addition, Elephant Insurance has various other fees and charges associated with changing or cancelling a policy, which can be higher than the market average. Customers can cancel their policy by logging into their online account or calling customer service.
| Characteristics | Values |
|---|---|
| Cancellation fee | No standard cancellation fee, but there may be other fees for cancelling or changing a policy |
| Refund | Prorated refund for the remaining premium based on the amount of the policy that will go unused |
| Time taken for refund | Approximately two weeks |
| Customer service number | (877) 218-7865 |
| Cancellation process | Log in to your account online and use the chat feature or call Elephant customer service at 877-321-2095 or 877-321-9905 to speak with an agent |
| Cancellation timing | Earliest cancellation can go into effect is midnight on the day the request is made, but customers can also choose a future date |
| Roadside assistance | Available in the eight states where Elephant operates: Maryland, Virginia, Tennessee, Indiana, Illinois, Texas, Ohio and Georgia |
| Admin fee | May be charged for changing address |
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$17.6 $45
What You'll Learn
- Elephant Insurance does not charge a cancellation fee
- Elephant Insurance offers refunds for unused days of coverage
- Elephant Insurance's cancellation fees are higher than the market average
- Elephant Insurance's parent company is EUI Limited
- Elephant Insurance offers a range of discounts to its customers
Elephant Insurance does not charge a cancellation fee
While Elephant Insurance does not charge a cancellation fee, it is important to note that cancelling your car insurance policy can have some unexpected consequences. There may be serious repercussions for having a gap in your car insurance, such as fines from the state, a suspended license, increased liability in the event of an accident, or higher insurance premiums in the future. It is always a good idea to speak with a licensed agent to ensure you have the coverage you need and to understand the potential consequences of cancelling your policy.
If you are considering cancelling your Elephant Insurance policy, it is recommended to follow certain steps to avoid any issues. Firstly, determine the appropriate timing for cancellation. It is often best to wait until the end of your policy term to avoid early termination fees. Secondly, if you are switching to a new insurance provider, it is crucial to purchase a new policy before cancelling your current one to prevent a lapse in coverage, which can lead to fines and higher premiums. Finally, contact Elephant Insurance and provide your policy number and the desired date of cancellation.
It is worth noting that if you have prepaid your premiums, you may be entitled to prorated refunds, which can sometimes offset any cancellation fees. Be sure to review your policy documents carefully to understand any potential fees or penalties associated with cancelling your car insurance policy. Additionally, Elephant Insurance offers various discounts and services that may be challenging to match with another insurer. Before making a decision, it is recommended to chat with one of their licensed agents to ensure you are getting the best rate possible and taking advantage of all the discounts for which you qualify.
If you are moving to a new state, Elephant Insurance can help ease the transition. They currently provide insurance for drivers in Georgia, Illinois, Indiana, Maryland, Ohio, Tennessee, Texas, and Virginia. If your move takes you to one of these states, you can simply update your policy to reflect your new address. However, if you are moving outside of these states, Elephant can provide you with a quote from one of their partner brands. Remember, it is always a good idea to review your coverage options and discounts before making any decisions.
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Elephant Insurance offers refunds for unused days of coverage
Elephant Insurance, a brand of the Admiral Group, offers refunds for unused days of coverage. The company operates in eight US states: Maryland, Virginia, Tennessee, Indiana, Illinois, Texas, Ohio, and Georgia.
If you cancel your Elephant Insurance policy, you will receive a prorated refund for the remaining premium based on the amount of the policy that will go unused. The company does not charge a cancellation fee, and you can cancel your policy by logging into your account online and using the chat feature or by calling customer service at 877-321-2095 or 877-321-9905 to speak with an agent. The cancellation can go into effect as early as midnight on the day of the request, or you can choose a future date.
It typically takes about two weeks for Elephant Insurance to issue a refund. If you have not received your refund within this timeframe, you can call the customer service line at (877) 218-7865. However, it is important to note that the specific timeframe depends on the reason for the refund and other factors, such as providing all the necessary documentation.
While Elephant Insurance does not charge a cancellation fee, it is important to be aware of potential consequences when cancelling any car insurance policy. There could be serious implications, such as state fines, a suspended license, increased liability in an accident, or higher insurance premiums in the future due to a coverage lapse. It is recommended to compare policies and ensure you are getting the best rate and all the discounts you are eligible for before cancelling your current policy.
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Elephant Insurance's cancellation fees are higher than the market average
Elephant Insurance, a trading name of EUI Limited, offers car insurance with prices that are meant to be on the cheaper side. However, it is important to note that their cancellation fees are higher than the market average. While some sources indicate that Elephant does not charge a cancellation fee, there are reports of customers being charged a fee for cancelling their insurance policy.
In one instance, a customer was charged a £20 fee for cancelling their insurance and for three days of using the insurance. This suggests that Elephant Insurance may charge a prorated fee based on the amount of the policy that will go unused, which can result in higher cancellation costs if a significant portion of the policy has already been used.
Additionally, Elephant Insurance has a variety of other fees and charges associated with cancelling or making changes to a policy. For example, customers may be charged a fee for removing a vehicle from their policy or for changing their address. These fees can add up and contribute to the overall higher cancellation costs compared to the market average.
It is worth noting that negative complaints about cancellation fees and higher renewal prices are not uncommon in the car insurance industry. Cancellation fees are commonplace, and customers should be aware of these potential costs when considering cancelling their policy. To avoid higher renewal fees, it is recommended to compare the market and review the various discounts and services offered by different insurers before making a decision.
When cancelling an Elephant Insurance policy, customers can log in to their account online and use the chat feature or call customer service at 877-321-2095 or 877-321-2095 to speak with an agent. It typically takes about two weeks for Elephant Insurance to issue a refund, but this timeframe can vary depending on the reason for the refund and other factors.
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Elephant Insurance's parent company is EUI Limited
Elephant Insurance, established in 2000, is a trading name of EUI Limited, which is a subsidiary of the Admiral Group. EUI Limited is authorised and regulated by the Financial Conduct Authority (FCA). The company is registered in England and Wales, with its registered office located at Ty Admiral, David Street, Cardiff, CF10 2EH. The company number for EUI Limited is 02686904.
As a customer of Elephant Insurance, you have a separate agreement with EUI Limited, which administers your insurance policy. The fees charged by Elephant Insurance, including any payment reversal fees, are outlined in your agreement with EUI Limited. These fees are designed to recover the costs associated with cancelling or making changes to your policy. It is important to note that multiple fees may apply in certain circumstances.
EUI Limited holds the trademarks for the name "Elephant" and its logo. They are also the owners of all copyright, design right, and database rights associated with the Elephant brand. This includes, but is not limited to, text, graphics, design, arrangements, and sounds used in their marketing and branding.
As a subsidiary of the Admiral Group, Elephant Insurance is part of a larger group of companies that offer insurance services. The Admiral Group is also the parent company of Bell Direct, Gladiator, and Diamond Motor Insurance Services, among others. The group is authorised and regulated by the FCA, ensuring compliance with relevant UK legislation and regulations.
In summary, Elephant Insurance operates under the parent company EUI Limited, which is a subsidiary of the Admiral Group. EUI Limited administers Elephant Insurance's policies and charges fees for policy changes or cancellations. The company is authorised and regulated by the FCA and holds various intellectual property rights associated with the Elephant brand.
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Elephant Insurance offers a range of discounts to its customers
Some of the discounts offered by Elephant Insurance include the Online Quote Discount, where customers can instantly save 15% by getting an online quote. The company also offers a Multi-Car Discount, where insuring multiple cars with Elephant qualifies customers for a discount. Elephant Insurance also provides a Homeowner Discount, where owning a home, regardless of whether it is insured by Elephant, can earn customers a discount on their auto insurance.
The company also offers an Anti-Theft Discount, where customers with approved anti-theft technology in their vehicles may be eligible for a 5% discount. Elephant Insurance also has a Mature Driver Crash Prevention Course Discount, where drivers aged 55 and above can save up to 5% on their insurance policy by completing an accredited accident prevention course. Additionally, Elephant Insurance offers a Bundling Discount, providing discounts to customers who bundle their homeowners, renters, or motorcycle policies with their auto insurance.
Customers can also save by choosing eco-friendly options like e-signatures and paperless billing, as well as by maintaining a clean driving record and being accident-free. Elephant Insurance strives to provide protection and convenience, offering flexible payment plans and a highly reviewed mobile app.
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Frequently asked questions
A payment reversal fee is charged when a payment is returned after cancellation. For example, if you cancel your insurance policy, Elephant Insurance will return the money for the remaining premium, minus the fee for the days you were covered.
Yes, Elephant Insurance does charge a payment reversal fee. This fee is for the days of coverage before the cancellation of the policy.
The amount of the payment reversal fee depends on how many days of coverage you had before cancellation. For example, one customer was charged £20 for three days of coverage.
To cancel your Elephant Insurance policy, log in to your account online and use the chat feature, or call Elephant customer service at 877-321-2095 or 877-321-9905 to speak with an agent.
