Hippo Homeowners Insurance Review 2022
Hippo at a glance
- One of NerdWallet’s top home insurance companies.
- Hippo’s standard policy is more generous than competitors’.
- Available in 37 states.
Hippo was founded in 2015 as part of a wave of startups focused on “insurtech,” or insurance technology. These companies try to make insurance more affordable for consumers and more profitable for insurers by handling many processes almost entirely online.
To that end, getting a quote from Hippo can take as little as about 60 seconds, and it provides high-tech perks like a smart home monitoring system in many states. The company also provides support if you have questions about home repairs.
Hippo offers policies through Spinnaker Insurance, a carrier it acquired in August 2020, and other partners.
Best for: Homeowners who want fast service and a tech-first company.
Hippo home insurance pros and cons
How Hippo home insurance rates
Hippo homeowners insurance earned 4.5 out of 5 stars for overall performance. NerdWallet’s ratings are determined by our editorial team. The homeowners insurance scoring formula takes into account policy coverage options and discounts, ease of filing a claim, website transparency, the financial strength of the company, complaint data from the National Association of Insurance Commissioners and more.
Based on these ratings, Hippo is among Vanquangblog’s Best Homeowners Insurance Companies for 2022.
Hippo currently offers homeowners policies in these 37 states.
Hippo home insurance coverage
You can customize your homeowners policy with numerous add-ons, but below are the types of coverage that generally come standard:
All Hippo homeowners insurance offers standard coverage such as dwelling, personal property, loss of use and liability. Additionally, Hippo includes these other types of coverage as part of its standard package:
- Ordinance or law, in case updated building codes drive up repair costs.
- Domestic workers, if someone working at your home is injured on the property.
- Home office, if work equipment such as a cell phone or printer is damaged.
- Computers, if any personal computers or storage devices are damaged.
- Water backup, for damage caused by backup or overflow of water from drains or sewers.
- Jewelry and watches/valuables, for the theft of high-value items. Additional items beyond the coverage limit can also be added to your policy.
- Extended replacement cost on dwelling coverage, which offers a little extra coverage in case the dwelling limit on your policy isn’t enough to rebuild your home after a disaster.
Depending on where you live and which home insurance package you choose, your policy may also include:
- Equipment breakdown, to help pay the costs of repairing or replacing electrical equipment.
- Service line, to help cover repair costs for lines such as electrical or sewer that come into your house from the street.
For an extra cost, you can also add mortgage payment protection, which helps make your mortgage payment if you need to move out of your home while it’s being repaired.
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Hippo home insurance discounts
Hippo offers homeowners insurance discounts for:
- Early signing.
- New home.
- Smart home.
- No mortgage.
- Affinity group.
- Homeowners association (HOA).
- Fire extinguisher.
- Gated community.
- Multiple policies.
- Wind loss prevention.
- Water leak detection device.
- Burglar alarm.
- Fire alarm.
- Smoke alarm.
Not all discounts apply in all states.
Hippo’s reinsurer, Spinnaker, received fewer than the expected number of home insurance complaints to state regulators relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners (NAIC home insurance complaints also cover other home policy types, including mobile home, renters and condo insurance). Hippo also sells policies from other partners.
Website: Hippo’s website can provide you with home insurance quotes. It also has articles outlining the basics of homeowners insurance and how it works. The company provides customer support via live chat, email and telephone.
Claims: To file a claim, you can contact Hippo by phone or email. A representative will walk you through the claims process, including booking temporary housing if needed.
Homeowners insurance buying guide
You can get home insurance quotes online, over the phone or through an agent. But before you start, take the following steps:
- Determine how much coverage you need. Is a standard policy sufficient, or do you want to add extra insurance for situations like identity theft or sewer backups? Check whether each company you’re considering has the options you need.
- Take inventory. To ensure you have sufficient personal property coverage, take stock of your belongings. Include all furniture, electronic devices, clothing, jewelry and household items. How much would it cost you to replace them? This total is the minimum amount of personal property insurance you should have.
- Make a fair comparison. When evaluating rates, make sure each insurer is offering the same limits and deductibles.
- Check consumer complaints. Although it may seem tempting simply to choose the cheapest option, look at how many consumer complaints each insurer has before choosing a policy. Poor customer service could have a significant impact on your experience if you ever need to file a claim.
How to file a homeowners insurance claim
File as soon as it’s safe. The sooner you report a theft or damage to your home, the sooner your insurer can assign an adjuster and start working on paying out your claim. Some companies let you file claims online or through their app, while in other cases you may have to call your agent or insurer instead. Have your policy number handy.
Document the damage. Bolster your claim by taking photos or video of all damage. If something was stolen, report it to the police before you contact your insurance company. Your insurer may ask for a copy of their report.
Prevent further damage. After you’ve taken pictures of everything broken or destroyed, take steps to prevent additional damage. For example, you can put a tarp over a leaky roof or blown-out window. Keep receipts for any supplies you buy, as your insurer may reimburse you later.
Frequently asked questions
What other types of insurance does Hippo offer?
Hippo offers condo insurance in addition to homeowners policies.
How does Hippo provide a quote so quickly?
Hippo automatically answers questions about your home based on publicly available data from multiple sources.
Does Hippo offer sinkhole insurance?
Hippo does not offer sinkhole insurance at this time.
Homeowners insurance ratings methodology
Vanquangblog’s homeowners insurance ratings reward companies for customer-first features and methods. The ratings are based on weighted average scores in several categories, including financial strength, consumer complaints, averages, discounts, online experience and more. My “easy to use” category considers factors like website transparency and how easy it is to submit requests. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best one for you. vanquangblog does not accept compensation for any reviews.
Methodology: Insurer complaints
vanquangblog examined claims received by state insurance regulators and reported to the National Association of Insurance Commissioners for 2018-2020. To gauge how insurers compare to each other, the NAIC calculates a claims index each year for each subsidiary, measuring the ratio of its total claims relative to its size, or the ratio of its total premiums. industry insurance. To assess a company’s claim history, vanquangblog calculated a similar index for each insurer, based on each subsidiary’s market share, over a three-year period. Rates are determined separately for auto, home (including renters and apartments), and life insurance.