Diminishing Deductible from Elephant

This coverage is an optional feature that you can add at the start of a new policy, or when it’s time to renew your current policy*. Diminishing Deductible is ideal if you know you’re a responsible driver—it allows you to have the lower cost of a high deductible and pay less out-of-pocket in an accident.

At Elephant, we do things a little differently. You’ll get a reduced deductible on day one of your policy with us, regardless of your previous accident history. After this initial decrease, you’ll earn another $50-$100 off your collision deductible for each year (or half year)** you go without getting into an accident.

Let’s put some numbers to that idea. Let’s say you’re buying a 6-month policy, and your deductible is $500 at first. When you add Diminishing Deductible to your policy, your deductible will be reduced to $450 right away. Then, every six months after, you’ll get another $50 off your policy if you’re not involved in any accidents.

There’s one more thing about the way we do Diminishing Deductible that sets us apart. If you do get in accident after adding this feature, we won’t reset your collision deductible. So if you had made it all the way down to, let’s say, $350, your deductible would stay at $350 for the next policy period. You’d be eligible for another reduction again at the beginning of the next policy period you were accident free!


*If you already have a policy with us, but you purchase coverage for an additional vehicle later on, you can add Diminishing Deductible to that new vehicle at that time.

**States with 12-month policies will see a reduction of $100 every year, while states with 6-month policies will see a reduction of $50 every six months.