Hippo Home Insurance Review 2021

Last modified: January 27, 2021
  • Claims 9
  • Buying 9
  • Transparency 9
  • Coverage Variety 8
  • Value For Money 10
  • OVERALL RATING 9
  • Financial Strength A-
  • BBB Rating A+
  • Coverages 5/5
  • Flexibility Policy customization available
  • Discounts 5/5
  • Support Email , Phone
  • User Ratings Trustpilot 3.2 stars
  • Availability 30 states
  • Pricing Price varies by state and home specifications

Are you looking for comprehensive information about Hippo? For our reviews, we did thorough research and this was the result! Read more!

Hippo Home Insurance Reviews

Are you looking for comprehensive information about Hippo? In that case, this article is for you. For our reviews, we checked out the company’s official site and the various insurance policies on offer. 

We analyzed the Hippo insurance ratings given by independent financial institutions and consumers to better understand the performance of the company. 

We also had a look at the services offered by the company’s competitors to analyze whether the company’s rates and offers are reasonable. 

About the Company

Hippo Insurance is a California-based company launched in 2015. It is a startup company that has all the digital tools to help you meet your insurance needs with convenience. 

Apart from insurance policies, Hippo insurance services include helping consumers install various smart home devices to keep their homes safe. 

Hippo works with top-rated insurance providers. This means that all policies are secured and the company has the ability to pay off claims.

Hippo home insurance’s partners are: 

Hippo insurance customer service is top-notch. From helping customers file complex claims to answering queries, customer service representatives will be there to make things easier for customers. 

Where Is It Available?

Hippo Insurance is a young company that is headquartered in California. This 5-year-old company has, within a short span, expanded its business in a large number of states. Hippo home insurance is currently available in 30 states. 

The following is the list of states served by the company: 

  • Alabama
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Georgia 
  • Illinois
  • Indiana 
  • Kansas
  • Kentucky
  • Maryland
  • Minnesota
  • Mississippi
  • Missouri
  • Nevada
  • Nebraska
  • New Mexico
  • New Jersey
  • New Hampshire
  • Ohio
  • Oregon
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas 
  • Utah
  • Virginia
  • Washington
  • Wisconsin

Types of Insurance Coverage 

Once you buy a Hippo home insurance, your home will be insured for an additional 25% rebuild cost. This is part of the company’s replacement cost coverage policy. 

Here are some amazing Hippo Insurance coverage plans: 

Home office: The work from home trend has gained popularity over the recent years. Many people are now working from home and have set up a small home office. This creates the necessity of insurance for protecting expensive computers or home office equipment.

Under this plan, the company will provide insurance for your home office equipment such as a computer and printer. 

Service line coverage: If your property is damaged by faulty electric wiring or backed-up sewer – regardless of the fact that the damage was caused by accident or by wear and tear – the policy will pay for the cost of replacements, repairs, or excavations. 

Water backup insurance: Backed-up sewers have the potential to cause severe damage to your house. When you get a Hippo insurance policy, you can take a sigh of relief with regard to this damage. Under the company’s water backup insurance coverage, Hippo financially covers the things in your house that got damaged by the water backed-up in your sewer.

Equipment breakdown coverage: This insurance policy protects the large electronic or mechanical appliances such as kitchen appliances, water heaters, television, etc. 

Earthquake or Flood coverage: Hippo partners with various best-rated insurance providers. This partnership allows the company to offer customers an earthquake or flood coverage. 

Dwelling coverage: This protects the physical structure of your home – including both the exterior and the interior of the house. 

Personal Property Coverage: This important homeowner’s insurance coverage is a great way to protect your belongings. Under this insurance policy, the company will offer you compensation if your belongings are damaged during a covered peril (like a fire) or stolen during a break-in. 

Loss Assessment Coverage: If there is a need for a special assessment for your house the company covers some costs. 

Other Structures Coverage: This coverage protects the other structures on your property, which aren’t in direct connection with your home. Such structures include detached garages or tool sheds. 

Medical Payments for Guests: The company also provides coverage for guests who need medical care after getting injured on your property.

Domestic Workers’ Coverage: Hippo covers employees who work in a consumer’s house such as childcare providers and cleaning professionals.  

In addition to the above-mentioned insurance coverage plans, Hippo provides the following unique advanced protection plans:

Smart home upgrades: Hippo believes that a smart home is a safe home. That’s why the company helps customers upgrade home systems that play an effective role in preventing large-scale damage caused by natural disasters and burglaries. 

For this, devices like leak sensors and alarm systems are installed. Hippo also sends customers a complimentary Smart Home Sensor Kit. Each home insurance policy of the company comes with a 2-sensor smart home monitoring system. 

Local Ordinance Changes Protection: Under this plan, you will receive compensation in the event where the local law changes and you ought to make a structural change to your property to bring it up to code. 

Enhanced Rebuilding Coverage: Following a natural disaster, the prices of contracting and construction labor tend to go up. For some people, this increase in price is too high. 

Hippo offers up to 50% compensation for rises in labor or material prices after a catastrophic event. 

Homeowner Insurance Pricing 

As compared to competitors, Hippo home insurance pricing is cheaper. Policy rates may vary by state and are largely dependent on the home specifications. 

On average, consumers can expect to pay around $1,600 per year. 

Here is a list of Hippo quotes: 

Hippo Coverage Amount Hippo Annual Premium
$50,000 – $200,000 $1,494
$200,000 – $400,000 $1,449
$400,000 – $600,000 $1,648
$600,000 – $800,000 $1,995
$800,000 – $1,000,000 $2,208

 

Getting a quote from Hippo home insurance is only a click away. All you have to do is visit the company’s official site and get a quote for your property. 

Hippo Insurance Discounts 

To learn more about the available Hippo Insurance discounts have a look at the list below: 

Early bird discount: This discount is for customers who purchase their policies at least a week in advance of it becoming active. 

Homeowners association discounts: Customers who belong to a homeowner association can easily take benefit of this amazing discount offer. 

Fire extinguisher discount: If you have fire extinguishers in your house, you will be entitled to receive a discount from the company.

Smart home discounts: As mentioned above, the company believes that a smart home is key to protecting your house against all kinds of damages. It also goes a step ahead and offers discounts to consumers who already have smart devices installed in their houses. 

Storm shutters: Houses that have storm shutters installed are eligible to receive discounts from the company. 

Protective devices discount: Homeowners who have safety and security features such as fire sprinklers, burglar alarms, and fire alarms, etc., in their house are eligible for a discount. 

New home purchase: This discount is applicable to customers who have bought their home within a year of the policy going active. 

Loss-free Discount: Customers who go on for an extended period of time without filing a claim are eligible for the loss-free discount. 

In addition to this, other factors that may make a customer eligible for a discount include: 

  • Gated community 
  • Bundling policies
  • Affinity groups
  • Hail-resistant roof

Customer Satisfaction and Financial Strength Review

Regardless of how many features a company offers, its success comes down to what it’s customers say about it.

Overall, people are satisfied with Hippo Insurance. There is only one thing that doesn’t go well with a large number of people. The company still hasn’t introduced a feature that allows customers to file claims or track their application online. 

When it comes to a relatively young company, many people are naturally concerned about its financial strength. Hippo Insurance, in that regard, performs quite well.

Here’s how independent customer rating sites have reviewed Hippo Insurance: 

Platform Rating
AM Best  A+
Trustpilot 3.2 stars
S&P AA-
Moody’s Aa3
Clearsurance 1.9 stars

 

Customer Support 

Hippo insurance customer service is top-notch. Customer care representatives are ever-ready to walk customers through the claim process. Hippo insurance customer service number is available 24/7. 

Ease of Buying and Claim Handling 

Through the company, it is extremely easy to buy an insurance policy. To file Hippo insurance claims, you can reach out to the company’s customer care representative. 

Hippo doesn’t offer in-person meetings with agents who can explain the Hippo insurance claims process. The only option that you have is to reach out to a customer support representative and get your questions answered through email or phone. 

The company has an impeccable claim handling system. It doesn’t underwrite its policies. Insurance giants such as Swiss RE and TOPA do it for Hippo. This means that your insurance is completely safe and that you can get the payment within the allotted time. 

One of the recurring Hippo insurance complaints is that the company doesn’t offer online claims filing and the subsequent tracking of the process. 

Comparison With Competitors 

Here is a brief comparison of the Hippo with some major home insurance providers: 

Hippo Insurance vs. Amica 

Amica is one of the best in claims handling on the market. It also enjoys good ratings in all categories. Securing your home with this company provides you with maximum security and protection. 

The company is quite expensive, though, and its policies are priced at the higher end. 

Hippo Insurance vs. Allstate

When it comes to ratings, Allstate is in the above-average ranking in most categories. The company offers its services in all states, unlike Hippo that only covers 30. 

Hippo Insurance vs. Nationwide

Nationwide is another reliable company that offers different types of coverage. However, the company doesn’t have good ratings when it comes to customer service. 

Hippo Insurance vs. Erie

Erie and Hippo have in common that both companies are not available in every state. 

The former is a reputable company that offers some of the best policies. It is rated as one of the best insurance providers in the market. 

Pros & Cons

The Pros

  • Great 24/7 customer service
  • Affordable rates and innovative policies
  • Provides extended replacement cost coverage

The Cons

  • Filing claims online - no option for doing so
  • No option for receiving in-person customer support
  • Hippo is active in only 30 states

Final Verdict

Overall, Hippo Insurance has average ratings. It is a young company that has developed exceptionally well within a short time. It offers attractive insurance plans and discounts that encourage customers to install security equipment. 

Like every other insurance provider, Hippo also has some drawbacks. Here is the list of some pros and cons of the company: 

FAQs

Is Hippo Insurance a reliable company?

Hippo is relatively new but has a great reputation in the market. Because of its well-designed digital interface, the company has also received positive feedback from customers. 

It was launched in 2015 and since then has attracted the funding of $209 million – half of the amount was raised in the year 2019 alone. This indicates that financial gurus and cautious investors also put their trust in the company. 

Can Hippo cover my multiple properties?

Yes, absolutely. If the company provides coverage for your primary residence, it can also cover your secondary or vacation home. The company offers landlord insurance that allows customers to secure their investment properties as well. 

This offer, however, is only valid in the following 6 states: Utah, Arizona, New Mexico, Georgia, South Carolina, and California.

What happens if I need to submit a claim?

You can either email or call the company to file a claim. Hippo will provide you with a dedicated claim advocate who will take up your case and assist you in your claim process. 

Is Hippo a good choice for homeowners?

Hippo home insurance reviews show that if you want affordable rates and good discounts, the company should be the top choice.

It provides coverage plans that include protecting appliances and electronics at no extra cost. It also offers you a complimentary safe home kit that allows you to better protect your home.