Elephant Insurance dropped my Model S

[vdiv]

Let us know when you have deal to with them for a claim on your Tesla. Until then it's not relevant. Are you going to use a non-Tesla certified shop?

I will deal with that eventuality as it comes. If our ~ $100k vehicle is in an accident we are all SOL regardless, as it will never be the same. If I want the car fixed it will have to be "Tesla-approved", however aluminum body work is not that rare anymore. For now I have no reason to make preemptive changes to my insurance.

 

[⚡️ELECTROMAN⚡️]

I will deal with that eventuality as it comes. If our ~ $100k vehicle is in an accident we are all SOL regardless, as it will never be the same. If I want the car fixed it will have to be "Tesla-approved", however aluminum body work is not that rare anymore. For now I have no reason to make preemptive changes to my insurance.

At least you've been warned.

It doesn't take a major accident to to end up in a major hassle with a lame insurance company.

 

[vdiv]

At least you've been warned.

It doesn't take a major accident to to end up in a major hassle with a lame insurance company.

What do you want me to do about it, trade it in for a Bolt? Ride a bike instead?

All insurance companies are lame, it's what they do (to quote this one).

 

[SabrToothSqrl]

I just received a notice in the mail from my insurance carrier, Elephant Auto Insurance, that they are dropping coverage on my 2013 60 Model S...

... suggestions?

Drive it like you stole it.

 

[MMC-]

Is your State Farm premium drastically different than a similarly priced car, or do they seem to treat the MS as a normal car?

It's about 400 more a year than my 2014 dodge ram. The ram was a 48,000.00 truck when new so I don't there is too much of a hit on it since the tesla was almost twice as much.

 

[jim5359]

I have Geico in California for my MS and a second vehicle and it's about $800/yr cheaper than the next lowest quote with max coverage. Just did a search and see plenty of others have similar experience, and despite the warnings I see complaints about the other companies also. So would you rather pay full price and potentially get stiffed or save $800/yr and potentially get stiffed?

Also keep in mind that each state has different laws and some are more consumer friendly than others, making it harder for insurance companies to stiff you. In California, for instance, you have a right to choose the body shop:
http://www.insurance.ca.gov/0250-in...o/auto-body-repairs-and-replacement-parts.cfm

 

[Uncle Paul]

Elephant insurance is not an insurance company at all, just a shopper group that gets a comission for placing you with a real insurance company (middle man).

Tell them you need your Tesla insured and have them shop it for you.

If not, just call around yourself to see where you will get the best deal.

Nothing new here. Each insurance company has their own underwriting policies. Goal is to find the insurance company that best fits with your insurance needs.

Of you are USAA or Costco qualified, give them a call as well. 15 minutes can save you $$$$$. : >)

 

[XHokie]

Just a few things on this:

1) Elephant Insurance is indeed an insurance company, not sure where @Uncle Paul got info that they are not an insurance company. They are a wholly owned subsidiary of Admiral Group plc (source: elephant.com website)

2) I have had Elephant coverage since last August, when I took delivery of my Model X. See below for a redacted cover-page of my policy renewal notice, and note that they are underwritten by Elephant Insurance Company

3) The premium I'm paying for insurance dropped considerably (about 35%) when switching to them last year, compared to the Costco (Ameriprise) insurance I previously had for my '14 Range Rover Sport. Now, I will say that at the time when I purchased my policy, the Model X was still pretty new and many insurance companies were not sure they could cover it. Elephant did, told me they have a number of customers who insure the Tesla sedan but I was one of the first with an SUV.

Given what's been stated in this thread, I am now concerned maybe they have realized the cost of repairing/replacing Tesla vehicles is more than they had bargained for...so I'll be interested to see if they drop my Model X as a vehicle, but we do have 2 other vehicles on our policy. I don't think they will want to lose all of the vehicles.

 

[drichardson875]

After calling around, I am seeing that Elephant is at least 60% cheaper than every other competitor in my area for some reason.

Looks like I am going to file an appeal with my state's Insurnace Commission and if that's unsuccessful get a separate policy for just my Tesla from another company and keep my house and wife's car on Elephant. Suggestions?

 

[scole04]

After calling around, I am seeing that Elephant is at least 60% cheaper than every other competitor in my area for some reason.

Looks like I am going to file an appeal with my state's Insurnace Commission and if that's unsuccessful get a separate policy for just my Tesla from another company and keep my house and wife's car on Elephant. Suggestions?

I'll be in this same situation late Oct. Let us know how the appeal goes.

 

[preilly44]

Progressive (in MD anyway) has by far the best rates of all the insurance Co's I called.

 

[RayW]

"too exotic, expensive or unique" is not a statement against you or your car, it is them stating they lack the financial resources to cover your $50K-ish automobile.

I’ve never heard of Elephant Insurance so I had to look them up… IMHO, they seem more suited for 18-year olds looking for cheap insurance, but not good insurance.

It’s better that you move on to an insurer not scared of your Tesla.

 

[macbeth]

Anyone have any suggestions on a company to get a quote from?

Erie has been fantastic and the cheapest I have found to date.

 

[Haskel]

Anyone have any suggestions on a company to get a quote from?

State Farm insured my mod. S
AARP wont insure because car is considered Exotic.

 

[welcomewagon]

You guys are ridiculous. Elephant is a tiny company and they decided they can't afford to pay total loss claims on expensive cars like a Tesla until they grow as a company and generate more revenue. Not because they are "greedy" (by the way, they're greedy because they AREN'T willing to take your money?), or because they "hate Tesla". It's a small company, they can't afford it, get over it. Bunch of entitled whiners.

P.S. Yes I know I'm bumping a very old thread but all the responses in here are just ridiculous.

 

[⚡️ELECTROMAN⚡️]

You guys are ridiculous. Elephant is a tiny company and they decided they can't afford to pay total loss claims on expensive cars like a Tesla until they grow as a company and generate more revenue. Not because they are "greedy" (by the way, they're greedy because they AREN'T willing to take your money?), or because they "hate Tesla". It's a small company, they can't afford it, get over it. Bunch of entitled whiners.

P.S. Yes I know I'm bumping a very old thread but all the responses in here are just ridiculous.

Yes, thx for adding another ridiculous comment to it.

 

[drichardson875]

Just an update, the appeal to the state insurance commission actually worked. Received a notice that Elephant was happy to bind coverage for another year. I’m shocked.

 

[jbcarioca]

Just an update, the appeal to the state insurance commission actually worked. Received a notice that Elephant was happy to bind coverage for another year. I’m shocked.

Good news! Congratulations!
For smaller companies there is often a reluctance to underwrite new/exotic risks. Aluminum +expensive+unusual does make many underwriters skittish. Without demonizing anybody it's easy to understand the issue.

FWIW, I had a similar situation with an airplane, one that had been produced in fewer than 50 examples of my model. I'd never had a claim nor any blemish in my record but I still had to shop.

Elephant reacted as a professional company would, especially since you have a clean record. As experience grows pricing will probably become less arbitrary and your rates might rise.

 

[CHRGIT]

Good news! Congratulations!
For smaller companies there is often a reluctance to underwrite new/exotic risks. Aluminum +expensive+unusual does make many underwriters skittish. Without demonizing anybody it's easy to understand the issue.

FWIW, I had a similar situation with an airplane, one that had been produced in fewer than 50 examples of my model. I'd never had a claim nor any blemish in my record but I still had to shop.

Elephant reacted as a professional company would, especially since you have a clean record. As experience grows pricing will probably become less arbitrary and your rates might rise.

Glad I could help. See post #4

 

[Insureit1]

Good news! Congratulations!
For smaller companies there is often a reluctance to underwrite new/exotic risks. Aluminum +expensive+unusual does make many underwriters skittish. Without demonizing anybody it's easy to understand the issue.

FWIW, I had a similar situation with an airplane, one that had been produced in fewer than 50 examples of my model. I'd never had a claim nor any blemish in my record but I still had to shop.

Elephant reacted as a professional company would, especially since you have a clean record. As experience grows pricing will probably become less arbitrary and your rates might rise.

Actually they did not act as a professional company should. The acted like a company that had a customer file a protest and the Maryland Insurance Administration found in favor of the insured. Maryland has a highly regulated insurance market and even incorrect punctuation can change the meaning of a sentence and cause a non renewal notice to overturned.