A Comprehensive Review of Hippo Home Insurance

This is a review of Hippo Home Insurance. In this review, you will know everything about Hippo Home Insurance. Just briefly, below is what we will cover:

  • Hippo Home Insurance Overview
  • How Hippo Home Insurance Different
  • Hippo Home Insurance Coverages
  • Hippo Home Insurance Coverages
  • Hippo Home Insurance Rates
  • Hippo Home Insurance Claims
  • Hippo Home Insurance Reviews

So if you are looking forward to purchasing home insurance, this post will help you to understand all that Hippo Home Insurance Company offers.

How Is Hippo Home Insurance Different?

1. Comprehensive Coverage

Hippo Home Insurance features unique coverage options, such as home office equipment and computers coverage. Even more, Hippo Home Insurance offers house cleaners, rebuilding, and house sitters coverages, which many other insurance companies do not provide.

2. Affordable Premiums

Hippo Home Insurance offers lower premiums in the market – 25% cheaper than its competition because they are entirely a digital insurance company with no offices and agents. This helps them trim down and focus on the core activity – to offer homeowners home insurance.

3. Free Smart Home Devices

You’ll get a free smart home monitoring system if you buy any coverage package from Hippo Home Insurance. Customers can also receive discounts for having the smart home monitoring device, which alerts them of any potential risks, such as theft, fire, or water damage.

4. Easy Claims Handling

Hippo is swift to handle claims, which is an added advantage. However, customers will not be able to file their claims online, but through a representative who will assign a dedicated concierge to help, step by step with the claim. The dedicated concierge can book a hotel reservation if your home was damaged in a covered event.

Hippo Home Insurance Coverages

Hippo Insurance provides market-standard coverages, including liability, property and dwelling coverages. Hippo also offers practical coverages, which other insurance companies will charge you extra.

However, Hippo Insurance offers condo and homeowners insurance only. This means that Hippo Insurance does not provide auto insurance coverages. Below are the coverages that Hippo Insurance provides:

1. Extended Replacement Cost

The Extended Replacement Cost will cover up to 50% more than what’s included in your dwelling limit. This insurance cover will protect you from any unforeseen depreciation of your home over time, which some insurance companies will charge extra.

2. Home Office and Computer Coverage

This insurance coverage option by Hippo Home Insurance will suit anyone with a fully-equipped home office. Unlike other home insurance providers that offer less than $2,000 in computer coverages, Hippo Home Insurance offers up to $10,000.

3. Equipment Breakdown

Hippo Home Insurance offers policies that provide up to $100k of coverage to repair and replace any of your appliances damaged by mechanical failure or electrical fault. This is an excellent feature if you have costly appliances, such as washing machines, space heaters, among other electronics.

4. Service Line Coverage

The Service Line Coverage offered by Hippo Insurance will take care of the costs to repair damages to an electricity, water or sewer line connecting your home to the street. However, this coverage will require you to buy an extra endorsement on top of your standard policy.

5. Water Backup

The Water Backup coverage will offer you up to $20k of coverage to any damage resulting from water backup, from sewer lines or drains. However, this coverage option will not cover you for any damages caused by floods, hurricanes or storms. So it would help to purchase flood insurance if you live in a flood-prone area.

Hippo Homeowners Insurance Discounts

Even though Hippo Home Insurance offers incredibly cheap coverage, they still offer discounts to its customers. Below are some of the discounts Hippo Home Insurance offer their customers:

  • Early bird: You’ll be eligible for this discount if you buy your policy 8 days before your old policy expires.
  • Homeowners association: This discount is available to those in the Homeowners Association.
  • No mortgage: Any customer who doesn’t have a mortgage on their home qualifies for this discount.
  • Fire extinguishers: Customers with a couple of fire extinguishers will be eligible for this discount.
  • Smart home: You’ll be eligible for this discount if you have the smart home monitoring device installed in your home.
  • Storm shutters: Customers with storm shutters installed in their homes will qualify for this discount.

Hippo Home Insurance Rates

Even though different companies underwrite this insurance company’s policies, Hippo Insurance remains one of the insurance providers with the most affordable home insurance coverages, no matter what location you come from.

Even more, the insurance coverages by Hippo Insurance includes the cover for appliance damages resulting from mechanical or electrical breakdown. The coverage limit can go up to $100k.

Hippo Home Insurance is way fast at giving quotes to customers who need them. To be precise, you can request and purchase coverage with Hippo Home Insurance in five minutes or less. You can also adjust your limits and qualify for some of the discounts.

Hippo Home Insurance Claims

If you want to file a claim with Hippo Insurance, here’s what you need to do:

  • Reach out to the company through (855) 999-9746 and give details to your claim as much as you can. The company is available 24/7, so you’ll always reach them at any time, any day.
  • Reach out to your concierge who should be responsible for managing your claims. The concierge will be able to escalate the issue, book accommodation, whenever necessary.

Hippo Home Insurance Review

Most of Hippo’s reviews are positive probably due to their most affordable insurance coverages, quick response to give quotes and the dedicated concierge to help customers with filing claims. The reputable home insurance company also enjoys adorable financial ratings from A.M, which is proof they can fulfil its promises to customers.

Contrary to what other conventional insurance companies do, Hippo Home Insurance handles claims and sells policies to its partners. However, it is also important to note that this company does not take liabilities as other insurance companies do.

Frequently Asked Questions

1. Is Hippo Home Insurance an Excellent Choice for Homeowners?

Yes, it’s an excellent choice to homeowners for three primary reasons – affordable rates, reliable digital experience, and free additional coverage options for appliances and mechanical breakdown. If you’re starting, this is a go-to coverage for leveraging your options. Even if you don’t opt for Hippo, it will provide you with its competitors’ rates, including benefits.

2. Who Underwrites Hippo’s Insurance Policies?

Hippo has multiple underwriting partners for its home coverage offerings. Such include the Topa, Spinnaker insurance providers, and Canopius US coverage for Hippo’s business lines. These underwriting partners have a combined $200 billion investment, and each has a rating of A- financial stability, according to Hippo. 

3. What does Hippo home insurance cover in general?

Hippo Home Insurance offers standard coverage, which includes liability, dwelling, medical payments, and personal property. It also provides home office and computer coverage that’s four times better than traditional policies.

4. Does hippo offer auto insurance?

No, Hippo Home Insurance does not offer auto insurance coverage. However, Hippo is no doubt a good bet if you need a homeowners insurance policy.

5. What is Xfinity hippo?

Xfinity teams up with Hippo Home Insurance to offer a modern and better home insurance that can save customers up to 25 percent. Hippo also uses satellite imagery and internet sensors to deliver nothing but the best to their customers.

6. Does hippo home insurance cover mold?

Yes, Hippo Home Insurance will cover mold, but only if the mold is as a result of water damage. However, it is still essential to inquire from the company for detailed feedback and under what circumstances it will cover mold.

7. Does Hippo have flood insurance?

Hippo currently offers home and condo coverage up to 15 states. Similarly, Neptune’s platform facilitates the process of buying and delivering flood coverage policy. Meanwhile, banks and lenders offer flood coverage policies to high-risk homeowners. This means that low-risk homeowners do not qualify for the flood insurance policies.

Final Verdict

Overall, Hippo Home Insurance is an excellent choice for any homeowner looking for affordable and innovative coverage options if you reside in any of the states mentioned above. You also need to understand that Hippo Home Insurance only operates online, which means that they don’t have any physical address where you can visit their offices. Finally, Hippo Home Insurance offers several discounts that any homeowner can qualify for.

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