July 28, 2015—Elephant Auto Insurance announced on Monday that it is now offering diminishing deductible coverage.
This new option allows customers who have selected it to have their collision deductibles reduced by $100 each year. This new option rewards good driving behavior and won’t punish drivers if an accident happens. Elephant’s diminishing deductible includes a no-rest guarantee.
Information about Elephant’s diminishing deductible:
- At purchase, you receive an immediate reduction of $100 on your $500 collision deductible
- Each year you do not a have rate-impacting accident, your deductible decreases by $100 (up to a maximum of $500 for the life of the policy)
- Elephant's no reset guarantee is the first of its kind, promising not to reset your deductible after an accident, but instead freezes your deductible until your policy renewal, at which point savings resume
"At Elephant we are always looking for ways to help our customers save money. That is why we are excited to launch Diminishing Deductible," Kevin Chidwick, CEO of Elephant Auto Insurance. "We want to reward customers who drive incident-free, but we do understand that accidents may happen. With our no reset guarantee Elephant is able to offer a first in the insurance industry to our customers, ensuring their collision deductible will not go back up after an accident. We believe our customers should be rewarded for their good driving, not punished."
Auto crashes cost the U.S. $230 billion per year, which comes out to about $820 per person. With Elephant’s diminishing deductible, customers may save up to $500 on their collision deductible.
To find out more, visit Elephant Auto Insurance’s website.