You may think that all the difficult decisions were made after you bought your home. But you’re not done yet.
Although not required in all states, you should look for home insurance that can protect your most valuable assets in the event of a disaster or robbery.
Founded in 2015, Hippo is part of a new insurance company group, Insurtechs, that uses technology to streamline the insurance process.
According to the company, customers can get a quote in 60 seconds and a policy in 5 minutes but you cannot send bills online.
Hippo only offers homeowners and condo insurance. Therefore, if you want to bundle home insurance, car insurance, and life insurance, this company is not suitable. Hippo is available in 36 states, and more will be coming soon.
Here’s what you need to know to determine if your hippo is the right insurance company for you.
Hippo Home Insurance Review
Hippo is an insurance company that uses artificial intelligence to protect policyholders in US homes and condominiums.
A publicly-traded company based in Palo Alto, Calif., Uses a state-of-the-art approach to offer innovative coverage and a variety of discounts.
Property carriers offer eligible customers a free smart home kit with built-in discounts when activated.
Ever wondered what it takes to keep an insurance company running? Find out: How Do Insurance Companies Make Money?
Pros And Cons
Pros
Tech Savvy: Hippo understands how dependent modern consumers are on technology. The company offers technology-savvy compensation options, such as increased limits on electronic devices and devices. This will give you confidence in your property insurance coverage.
Fast Quote Process: Get your first quote online in 60 seconds and get a complete quote in 5 minutes.
Customer Support: If you have any questions, Hippo has a 24/7 customer support team. The complaints team is available 24 hours a day, 7 days a week, in case you need assistance reporting a complaint.
Enhanced Insurance Coverages: Home insurance covers four times the coverage of smart devices and electronics in the home, coverage of critical workers such as babysitters and home cleaners, etc. You will have a lot of options to choose from and that makes it unique.
Cons
Homeowners and Condo Insurance Only: Anyone looking for a single provider to meet all their insurance needs should look elsewhere. Hippo works with other companies to provide wind, flood, and earthquake insurance, but Hippo itself only offers home and condo insurance.
Not in all 50 states: Hippo offers hard-to-find features, but currently only offers insurance in only 37 states. Excluded states include Louisiana and Oklahoma.
No Bundled Insurance: Hippo only offers home insurance and cannot be combined with other forms of insurance such as home insurance bundled with your car policy. Bundled insurance usually lowers your premium.
Pricing and Discounts
First of all, Hippo has already saved up to 25% on homeowner coverage compared to other insurance companies. It also offers some home insurance discounts to further reduce your costs. These include:
Early signing discount: This discount is for signing up for a Hippo policy 8 days or more before your new policy starts.
New home and smart home discount: If your home is newly constructed, you’re eligible for a discount. Also, Hippo offers a discount for using smart home devices, including the complimentary device it offers.
HOA discount: If you belong to a homeowner’s association (HOA), you may be eligible for a discount on your policy.
Fire extinguisher discount: Owning a fire extinguisher is a good idea for any homeowner, and it also could get you a discount from Hippo.
No claims & mortgage discount: If you go a certain number of years without filing a claim, Hippo offers a discount. Also, if you don’t owe anything on your home, Hippo offers you a discount on your insurance.
Your life has no price attached to it, however, all insurance has to do with zeros. Check out: How Much Life Insurance Do You Need?
Claims Processing
You can start the claim process by calling 8559999746 or sending an email to [email protected].
You cannot send or track claims online, but there is a billing concierge. The Claims Concierge will guide you through the process from start to finish.
They can answer your questions, help your service provider, and even help you book temporary accommodation.
However, no mobile app is currently available. However, their website is optimized for mobile devices and can be viewed in a mobile phone web browser.
Mobile apps are useful because they provide easy access to customer service and billing over the phone, but you won’t lose much without them.
Overall Hippo Home Insurance Review
Hippo is one of the best home insurance companies because it offers its insurance policy. A free smart home system is included when you sign up (depending on the state).
Hippo doesn’t have a mobile app and isn’t available in all states, but Hippo offers 24/7 billing and customer service.
Hippo Home Care is also a unique service that can help you take care of your home. It also saves up to 25% compared to other insurance companies, so it’s worth getting a quote.
Conclusion
It’s obvious but still worth mentioning: home insurance isn’t a one-size-fits-all solution.
Buyers need to consider a number of different factors, including what sort of coverage they want, and why they’re looking for the coverage.
This is especially true when it comes to replacing a plan you already have with a new one.
If you don’t want to be surprised by hefty increases in premiums or other unwelcome changes, it pays to stay one step ahead of your insurer.
FAQs On Hippo Insurance
Yes, Hippo insurance is legit. Hippo’s underwriters have excellent ratings, and the company has hundreds of thousands of customers.
Simply No! Hippo’s standard home and condo policies do not include earthquake or flood coverage.
Hippo could be strong home insurance for you if you’re searching for home insurance with better-than-average coverage options. However, they are not yet rated by large organizations like J.D. Power, and customer reviews elsewhere may be mixed.
Hippo has multiple underwriting partners for providing home insurance. These currently include Topa and Spinnaker insurers and Canopius US Insurance for Hippo’s over-insurance business. According to Hippo, these underwriters have total assets of $ 200 billion and each has received at least an “A” financial stability rating.
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