Extra coverage for electronics and great customer service make Hippo an appealing home insurance provider.Visit Website
Founded in 2015, Hippo is an insurtech company that connects homeowners with policies underwritten by Spinnaker Insurance Company and Topa Insurance Company. Coverage is available to residents of 40 states, excluding Alaska, Idaho, Montana, Wyoming, North Dakota, South Dakota, Iowa, Oklahoma, Louisiana, and Hawaii.
In general, Hippo offers insurance policies for homeowners, condominium unit owners, homes that are under construction, and landlords. Hippo does not publish details about its precise coverage options. However, homeowners insurance policies typically include the following coverage:
Premiums are calculated based on the policy coverage limits, endorsements and optional coverages, discounts, and deductibles, among other factors. The cost of a policy also depends on the home’s location and characteristics, as well as the costs associated with replacing the structure in the case of a loss.
These are some of the key characteristics of Hippo homeowners policies:
In addition to its basic homeowners coverage, Hippo offers homeowners a variety of endorsements at an additional cost. Depending on your needs, available endorsements include but are not limited to the following:
Hippo policyholders can take advantage of several discounts offered by the insurtech company. Popular discounts include:
Homeowners insurance typically does not cover certain events like flooding, earthquakes, normal wear and tear, infestations, and wind and hurricane damage. Common exclusions also include coverage for service lines for utilities like water and sewer, as well as coverage for equipment breakdown, government actions, mold damage, and faulty workmanship.
Hippo’s homeowners coverage reportedly also includes exclusions for liability claims related to dog bites with a prior bit history or dogs of certain breeds. Excluded breeds include Akita, Alaskan Malamute, Cane Corsos, Chow, Doberman, German Shepherd, Great Dane, Husky, Pit Bull or Pit Bull mix, Presa Canario, and Rottweiler.
Hippo offers policyholders smart-home monitoring equipment like sensors for smoke, carbon monoxide, water leaks, and motion. Professional, 24/7 monitoring is available, and Hippo customers who opt in to the services can save up to 10% with a home monitoring system and 13% for professional monitoring.
Hippo provides homeowners a personalized and dynamic home health profile that simplifies maintenance and avoids future issues. Homeowners receive guidance on how to check up on certain key systems within their homes, including checklists and relevant step-by-step guides—all through the Hippo mobile app. Hippo’s home care experts can also provide tailored advice.
Hippo policyholders can file a claim online or by phone 24 hours a day, seven days a week. Homeowners should organize information about the claim, including notes about the covered event and photographs of relevant damage. Once Hippo creates a record of your claim, the company assigns an adjuster and schedules an inspection of the damage.
Hippo then reviews the information, follows up if more details are required, and then notifies the homeowner whether the claim is approved. Once approved, Hippo reportedly pays the claim as soon as possible.
While Hippo makes it easy for homeowners to compare coverage options and discounts, the company has disadvantages. For that reason, it’s important to consider the pros and cons of Hippo homeowners insurance before committing to a policy.
In general, Hippo is best for homeowners who plan to take advantage of Hippo’s smart home and home care features. That said, Hippo may be best for:
Homeowners can get a quote for Hippo homeowners insurance online, by phone, or through one of the home builders in Hippo’s network. The process varies slightly depending on how you prefer to get a quote. However, you can follow these steps to get a Hippo homeowners insurance policy online.
Provide real estate details. To get a homeowners policy through Hippo, navigate to the company’s website, enter your home address, and click “Quote in 60 Seconds.” Enter some basic information about the property, including whether it is a house or condo and whether you live in it or if it is occupied by a renter or vacant.
Review property information. The company uses data from several sources to auto-complete information about your home, saving time over some competitors. Once you review the information for accuracy, continue through the quote wizard and provide details about fixtures and finishes to estimate replacement and rebuilding costs.
Choose a timeline and discounts. Next, indicate when you want to start your policy (this week, in a few weeks, or in a couple of months) or if you are browsing policy options. Based on your information, Hippo lists several discounts that may apply to your home. Choose applicable discounts and click on the “Continue” button.
Enter contact information to get a quote. Finally, enter your name, date of birth, email address, and phone number to get a quote. If you want to include a second insured person, add their information as well. Contact Hippo at 1-877-838-8866 if you prefer to receive a quote by phone.
Select a policy and bind coverage. Once you’re ready to proceed with homeowners coverage, select a policy and bind coverage. From there, you can manage your account and file claims online or by phone.
The most significant difference when comparing Hippo vs. Lemonade is that Hippo only offers home insurance. In contrast, Lemonade provides a range of coverage options, including renters, car, pet, and life insurance. Both companies provide a totally digital experience with online quotes and mobile apps, but additional features vary somewhat between providers. Lemonade boasts fast claims processing, while Hippo provides free home maintenance advice, video consultations, and smart-home devices.
When looking at small business insurance carriers, we want to know that our customers are working with the best. This is why we search for carriers that have high AM Best ratings or marketplaces that work with carriers that have those ratings. We review the key features of the provider and look at how costs are derived. The quote process is essential to a good customer experience, which is why we go through the process to test the efficiency of the system.
Hippo is a legitimate insurtech company that was founded in 2015. The company is headquartered in Palo Alto, CA, and services customers in 40 states. The company has been accredited by the Better Business Bureau (BBB) since 2018 and has a B rating. Hippo has 3.17 out of five stars based on 159 customer reviews on the BBB website and 2.8 stars based on three Trustpilot reviews.
Hippo lets homeowners get a quote for a range of insurance products in as little as 60 seconds. Once an applicant reviews available quotes and chooses coverage, the policy is underwritten by Spinnaker Insurance Company or Topa Insurance Company, depending on their state of residence.
Hippo homeowners insurance policies are underwritten by Spinnaker Insurance Company or Topa Insurance Company, depending on the homeowner’s state. Both insurers have an A- (Excellent) rating from AM Best.