Hippo Home Insurance Review

Hippo isn’t the most reputable name in home insurance, but it’s a brand you should know about. The company was founded in 2015 and started selling cheap home insurance just two years later. To review Hippo’s home insurance offerings, we used the SimpleScore method to rate the company based on discounts, coverage options, customer satisfaction, support and accessibility.

Hippo is truly a new-age insurance company. Hippo offers the coverage that homeowners today need the most, and sells policies at up to 25% less than its competitors.

J.D. Power Rating
N/A
AM Best Rating
N/A
Standard & Poor’s
N/A
SimpleScore
3.5 / 5.0
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SimpleScore Hippo 3.5
Discounts 4
Coverage Options 5
Customer Satisfaction N/A
Support 3
Accessibility 2
  • Affordable policies
  • Unique coverages
  • Dedicated claims concierges
  • Not available everywhere
In the News
  • When Hippo started selling home insurance in 2017, it earned a rave review in Forbes The author noted that the company was poised for success due to its financial backing “by top tier VCs, such as Horizons Ventures and GGV Capital, as well as a number of high profile FinTech investors, like Pete Flint, co-founder and CEO of Trulia, and Matt Humphrey, co-founder and CEO of LendingHome.”
  • In June 2020, Hippo announced that it was acquiring Spinnaker Insurance Company, which would “expand Hippo’s smart home insurance policies’ geographical reach to all 47 US states where Spinnaker is licensed.”
  • In July 2020, Hippo announced that it would be filing an IPO, and recently closed a $150 million financing round. The Insurance Journal noted that “Hippo is on track for more than $100 million of revenue in the next year.”
In this article

    Hippo’s home insurance at a glance

    SimpleScore3.5/5
    In business2015
    States served29
    Best forPeople who want affordable coverage
    Not forPeople who want a reputable provider
    Standout features
    • Online quote in 60 seconds
    • Free smart home device for new customers
    • Variety of add-on coverages
    Available bundlesNone

    Find the Best Home Insurance

    Save money on home insurance with our simple comparison tool.

    Matching you with providers.
    We found results in
    Click at least 2-3 companies to find the very best rate.

      America’s top-rated home insurance

      • Policies starting at just $25/month
      • Sign up in seconds, claims paid in minutes
      • Zero hassle, zero paperwork

      What we like about Hippo’s home insurance

      Comprehensive coverages

      Hippo is known for its unique coverage options, many of which are hard to find from other companies. For instance, Hippo offers four times more coverage for computers and home office equipment than traditional policies. You can also get coverage for house cleaners and house sitters, service line coverage, enhanced rebuilding coverage, and more.

      Affordable premiums

      The main reason why homeowners choose Hippo Home Insurance is because the company offers some of the lowest premiums on the market. According to its website, Hippo sells home insurance that is up to 25% cheaper than its competitors. Part of the reason Hippo can keep costs low is because it’s a fully digital company, with no agents or offices.

      Free smart home devices

      Every homeowner that purchases coverage through Hippo is given a free smart home monitoring system to install in their home. Customers can automatically receive a discount on their premium for having the device, which notifies users about risks like fire, water damage and theft, which are common sources of insurance claims.

      Easy claims handling

      According to its website, Hippo Home Insurance makes claims handling a breeze. Unfortunately, policyholders can’t report or manage their claims online. But once they file a claim with a representative, a dedicated claims concierge is assigned to assist with every step of the process. The concierge can even book accommodations, like a hotel reservation, if your home is damaged in a covered event.

      [Read: How to Find Cheap Homeowners Insurance in 2020]

      Things to consider

      Hippo Home Insurance is a newer company, and there are a few downsides to that. Here are some additional things to consider before you purchase a policy from Hippo.

      Limited availability

      Currently, Hippo is only licensed to sell home insurance in 29 states, which include California, Arizona, Nevada, Oregon, Washington, Utah, Colorado, New Mexico, Nebraska, Kansas, Texas, Missouri, Mississippi, Minnesota, Wisconsin, Illinois, Alabama, Georgia, South Carolina, Tennessee, Kentucky, Virginia, Indiana, Ohio, Pennsylvania, Maryland, New Jersey, Connecticut, and New Hampshire.

      Underwriting partners

      Hippo does not underwrite its own home insurance policies. Instead, it works with partner companies that assume the risk for them. That isn’t necessarily a bad thing, but it means there is some uncertainty around the financial strength and reputability of the company that is actually providing your coverage.

      Hippo vs. the competition

      Kin

      Kin is another small, online-only home insurance provider that was founded several years ago. The main difference between Kin and Hippo is that Kin primarily serves customers in high-risk areas, like Florida and California. Like Hippo, Kin also claims to sell affordable insurance. According to its website, customers save an average of $500 when they switch to Kin. While Kin might be more affordable, Hippo offers many more coverage options and discounts.

      Nationwide

      SimpleScore: 4.3/5

      Nationwide is one of the most popular home insurance companies. It’s a more traditional insurance company where customers can manage their policy and submit claims online, or they can work with a live agent. Nationwide offers many coverages that Hippo doesn’t, like identity theft coverage and brand new belongings coverage. And because the company has been around since 1925, it has the industry expertise and reputability that Hippo Home Insurance lacks. Read our full review of Nationwide home insurance.

      [Read: The Best Homeowners Insurance Companies for 2020]

      Hippo home insurance rates

      One of Hippo’s biggest selling points is affordability. The company claims to offer comprehensive home insurance policies for up to 25% less than its competitors. And, the company offers a number of discounts that can help customers save even more money on their home insurance.

      Although home insurance premiums vary based on a number of factors, it makes sense that Hippo is able to keep costs low. The company doesn’t underwrite its own policies, it operates 100% online, and it doesn’t have any offices. Additionally, the company’s signature offering of a free smart home monitoring system allows it to keep claims at bay, by amping up security in insured homes.

      Hippo’s home insurance coverage

      • Standard coverage: Hippo offers basic home insurance coverages, including dwelling, personal property, liability, medical payments and loss of use.
      • Computers and home office coverage: Hippo offers 4x as much coverage for computers and office equipment than traditional policies.
      • Appliances and electronics coverage: Enhanced coverage for things like your HVAC system and water heater are available.
      • Smart home equipment: Every homeowner gets a free smart home monitoring system when they buy a new policy.
      • House sitter/cleaner coverage: Hippo offers coverage for the essential people who keep your home running smoothly.
      • Water backup coverage: If you experience water backup in your home, Hippo will cover the repairs.
      • Service line coverage: Hippo will cover the gas, water and sewer pipes between your house and the street in the event of an accident or general wear and tear.
      • Legal ordinance coverage: Hippo will pay for costs related to changing building codes.
      • Enhanced rebuilding cost coverage: Hippo offers a 25% increase in coverage to rebuild your home in case labor or material prices are higher than expected.
      • Full replacement cost coverage: Optional coverage which offers a higher payout in the event that your personal items are damaged after a covered loss.

      [Read: How to Find Cheap Homeowners Insurance in 2020]

      Hippo Home Insurance’s discounts

      • Early signing discount
      • New home discount
      • Smart home discount
      • Claims-free discount
      • No mortgage discount
      • Affinity group discount
      • HOA discount
      • Gated community discount
      • Fire extinguisher discount
      • AutoPay discount

      Find the Best Home Insurance

      Save money on home insurance with our simple comparison tool.

      Matching you with providers.
      We found results in
      Click at least 2-3 companies to find the very best rate.

        America’s top-rated home insurance

        • Policies starting at just $25/month
        • Sign up in seconds, claims paid in minutes
        • Zero hassle, zero paperwork

        How to submit a home insurance claim with Hippo

        Hippo Home Insurance has an entire section of its website dedicated to claims. If you need to file a claim with Hippo, here are the steps you’ll need to take:

        1. Call the company at (855) 999-9746 and explain the claim in as much detail as possible. You will be able to reach someone at Hippo around the clock, seven days a week.
        2. Communicate with your claim concierge, who is responsible for overseeing and managing your claim. They can facilitate communications with adjusters and service providers, book accommodations, and give you updates on the claim status.

        [Read: How to File a Home Insurance Claim]

        Hippo Home Insurance online and mobile app

        Despite being an online company, Hippo doesn’t offer much technology. There is no mobile app where customers can manage their policy or file a claim. However, customers can use the Prism mobile app to pay their insurance premium. There is an online customer portal, but it’s fairly basic with just policy documents. If you want to file a claim, you’ll have to do it the old fashioned way — by calling a representative.

        Hippo home, auto and life

        Right now, Hippo only offers homeowners insurance and condo insurance. Because of that, it does not offer any bundle discounts. You can purchase earthquake insurance, flood insurance and wind insurance from Hippo’s partner companies.

        We welcome your feedback on this article and would love to hear about your experience with the home insurance providers we recommend. Contact us at inquiries@thesimpledollar.com with comments or questions.

        Methodology

        SimpleScore

        The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.
        For every review, our editorial team:

        • Identifies five measurable aspects to compare across each brand
        • Determines the rating criteria for each aspect score
        • Averages the five aspect scores to produce a single SimpleScore

        Here’s a breakdown of the five aspect scores and their rating criteria for our reviews on home insurance.

        Why do some brands have different SimpleScores on different pages?

        To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

        However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare State Farm’s home insurance according to our criteria for the best home insurance, it scores a 3.8 out of 5. But when we compare State Farm according to the criteria for the best auto insurance, it scores higher, since the features the company offers can vary by the type of insurance.

        Discounts

        We looked at the number of discounts each company offers – more discounts mean a higher score.

        Coverage Options

        We awarded higher scores to the companies that offer more coverage options.

        Support

        We awarded higher scores to companies with the most channels for customer support.

        Customer Satisfaction

        We leveraged the J.D. Power 2019 Home Insurance Satisfaction Study℠ to see how customers rated their experience with each company. (If a company wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)

        Accessibility

        We looked at the level of accessibility of each company – the more resources they have the higher their score

        Elizabeth Rivelli

        Contributing Writer

        Elizabeth is a contributor to The Simple Dollar, where she reviews insurance providers and policies. She has more than three years of experience writing for top online insurance and finance publications, including Bankrate, Coverage.com and Reviews.com.

        Reviewed by

        • Courtney Mihocik
          Courtney Mihocik
          Editor

          Courtney Mihocik is an editor at The Simple Dollar who specializes in insurance, personal finance, and loans. Previously, she wrote and edited for Interest.com, PersonalLoans.org, Ballantyne Magazine, Thread Magazine, The Post, ACRN, The New Political, Columbus Alive and the Institute for International Journalism.