Most mortgage lenders require homeowners to have a homeowner’s insurance policy. If your home is damaged in a fire, tornado, or other natural disaster, homeowners insurance protects your assets and will help rebuild your home. One of the best insurance for your property that you can buy is Elephant Home Insurance.
This article will describe Elephant Home Insurance that you might need to protect your house. Here comes the explanation!
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What is Elephant Home Insurance?
Homeowners insurance helps you deal with damage to your property, home, or personal effects. Home insurance covers everything that happens to your house, such as vandalism, theft, smoke, fire, or other damage.
Most standard policies also cover personal items such as electronics, furniture, and other things. Home insurance also exists to pay homeowners if they are liable for any injury to their property, including accidents of people living in the home and the guests coming to your home.
Elephant was founded in 2009 and started its business as a car insurance company. Elephant Insurance is a small company that provides auto insurance policies in eight states only: Illinois, Georgia, Maryland, Indiana, Ohio, Texas Tennessee, and Virginia.
But, they also provide other types of insurance like renters and homeowners insurance. At this time, Elephant does not offer home insurance directly. However, home insurance from Elephant is available in partnership with Admiral, who provides various levels of coverage for your home and its contents.
Through this partnership, Elephant also offers flexible home insurance with various levels of coverage at a high value. Next, we will describe the types of coverage that Elephant Home Insurance provides.
What Types of Coverage Does Elephant Home Insurance Offer?
Elephant home insurance provides several types of coverage that help you to protect your home from various accidents. Here are the types of coverage that they offer.
1. Liability Coverage
Your homeowner’s policy offers liability coverage for property damage and bodily injury suffered by others for which you or a covered household occupant is legally liable.
2. Dwelling Coverage
It is part of your homeowner’s insurance policy that helps pay for home repairs or rebuilding if your home is damaged in an accident already covered by the insurance policy.
3. Guest Medical Protection
If you like throwing parties or inviting your friends to your home, you may need visiting medical coverage. This type of coverage can help cover medical expenses required by guests who come to your home in an accident, regardless of who is at fault.
Medical expenses covered usually include costs such as X-rays, hospitalization, surgical procedures, and ambulance trips. Note that guest medical coverage does not apply to anyone who lives in your home or is listed on your policy.
4. Personal Property Protection
This insurance protects items in your home, such as your furniture. Personal property protection can help you cover the cost of replacing it if it’s damaged or lost.
5. Reimbursed Living Expenses
This coverage reimburses the insured for maintaining a comparable living standard after a loss that exceeds the insured’s average costs. For example, this policy will cover the insured’s motel bill while fire damage to the home is being replaced or repaired. It may also cover it until the insured moves to permanent residence.
6. Other Structures Coverage
This includes structures in dwellings separated from voids or connected to dwellings by fences, utility lines, or associated joints. Examples include tool sheds, detached garages, swimming pools, driveways, gazebos, or fences.
Additional Coverage of The Elephant Home Insurance
This is one of the things that make Elephant Home Insurance a perfect insurance choice for homeowners because it provides additional coverage for more specific things. Here comes a different range of additional coverage if Elephant.
1. Earthquake Coverage
It covers some of the loss and damage that an earthquake can cause to your home, property, and other structures on your property. This insurance can be the best choice if you live in a country or area prone to earthquakes.
2. Identity Theft Protection
Identity theft is one of the most frequent crimes nowadays. Therefore, you need identity theft protection. This protects homeowners from identity fraud and pays for their identity restoration costs.
3. Your Valuable Items
One of the best things about Elephant Home Insurance is protecting your valuables. Valuable personal property coverage protects items such as expensive collectibles, engagement rings, watches, and other jewelry from theft, loss, or damage.
Pros and Cons of Elephant Home Insurance
For those of you who still need to learn about Elephant Home Insurance, consider the pros and cons of this homeowner’s insurance.
Pros
- Offers various discounts that can help you save more in paying insurance costs.
- Legal aid coverage is available if you have a lawsuit due to an accident in your home.
- You can bundle auto insurance with a non-Elephant policy so that you can save more money on insurance.
- The BBB highly rates this company. It could be the best insurance choice for those just starting to choose home insurance.
- It offers a variety of individual coverages, including homeowner insurance, auto insurance, motorcycle insurance, life insurance, and more.
- Elephant Home Insurance has an impressive parent company that offers affordable coverage, discounts, and excellent customer service.
Cons
- Only available in eight states for people outside of those states needing help signing up for this insurance.
- Far more complaints to state regulators than companies of a similar size.
- A.M. Best did not rate it. There are no 24/7 telephone claim reporting or customer service options available.
- The coverage is not available nationally.
How Much Does Elephant Home Insurance Cost?
An elephant is cheaper than the average house insurance cost. But they have yet to release the exact price of their premium and coverage. Why? Because it depends on your state, the type of your house, and many more. Thus, you can get the quote directly at https://www.elephant.com/.
Consider Using Elephant Home Insurance Now!
Elephant is one of the best insurance options with all its limitations. But it’s worth rethinking, is it right to use Elephant Home Insurance to protect your home? Let’s shop around for comparison.