Hippo Home Insurance Review

Hippo home insurance quotes

Hippo insurance quotes are 17% cheaper than its competitors, on average. A policy costs $1,761 per year, or $147 per month. That’s $89 per year less than Lemonade, the second-cheapest company we analyzed.

Graph showing Hippo home insurance rates vs. competitors

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In addition, Hippo home insurance quotes are significantly cheaper than large insurance companies. Home insurance from Allstate costs twice as much as a policy from Hippo, on average.

Company

Average monthly rate

Average annual rate

Hippo$147$1,761Lemonade$154$1,850State Farm$194$2,324Allstate$294$3,528

Hippo home insurance does an exceptional job of delivering quotes quickly. In fact, it’s possible to get a quote and purchase coverage in less than five minutes. You can also easily adjust your coverage limits to check if you qualify for Hippo’s discounts. Compared to Hippo, Allstate and State Farm’s quoting systems are slow and clunky.

Hippo home insurance discounts

Although its rates are already affordable, Hippo offers a number of discounts usually found with other homeowners insurance companies — as well as others that are less common.

  • Affinity discount

  • Claims free

  • Companion policy discount

  • Early shopper

  • Fire extinguisher

  • Hail-resistant roof

  • Homeowners association

  • Interior sprinkler system

  • No mortgage

  • Recent home purchase

  • Smart home

  • Storm shutters

  • Theft protection device

Hippo smart home discount

One of the most notable discounts Hippo offers is its smart home discount. Not only does the company offer homeowners savings on their insurance, but it includes a free basic smart home system when you purchase a policy.

Hippo currently partners with three smart home monitoring companies: Kangaroo, Notion and SimpliSafe.

Homeowners can earn a discount of up to 10% on their annual premium for self-monitored systems, and up to 13% with a professionally monitored system. While the cost of a smart home plan is usually more than you’ll save on your insurance, homeowners who already have a system or were planning to invest in home security may benefit from this discount.

Hippo’s smart home discount is not available in Alabama, Kansas, Kentucky, Mississippi and Washington.

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Hippo home insurance coverage

Hippo home insurance includes standard coverages, including dwelling, property and liability insurance. In addition, a standard Hippo home insurance policy includes practical types of coverage for which other insurers usually charge extra.

Extended dwelling coverage

If your home is destroyed by a covered event, like a house fire or vandalism, extended dwelling coverage pays up to 25% more than your policy’s dwelling coverage limit. This can help protect against unforeseen expenses, like increased labor or material costs.

Equipment breakdown

Unlike other insurers, all Hippo home insurance policies provide up to $100,000 of

appliance coverage

to repair or replace units damaged by electrical or mechanical failure. The deductible for this coverage is $500. We consider this an excellent feature, especially if you own expensive appliances.

Home office and computer coverage

A basic policy from Hippo includes four times as much protection for your computer and other home office technology as most competitors. For example, Hippo includes coverage for a computer for up to $8,000. Typically, homeowners insurance companies provide less than $2,000 in coverage for computers.

Service line insurance

Hippo’s home insurance policies

cover the costs

of repairing any damage to a sewer, water or electric line connecting your property to the street. This kind of protection usually requires the purchase of an extra endorsement on a typical policy.

Water backup coverage

This coverage offers up to $5,000 of protection against damage caused by water backup from drains or sewers. However, note that water backup coverage doesn’t protect you from flood damage caused by storms or hurricanes. If you live in a flood-prone area, it’s a good idea to purchase flood insurance.

Homeowners can enhance their Hippo policy with higher limits on many of the coverages above. You can also add extra protections, like full replacement cost for your belongings or mortgage payment protection, which provides up to $1,500 per month to cover your mortgage if your home becomes uninhabitable.

In addition, Hippo offers policyholders access to its home care program at no additional cost. Homeowners can receive maintenance or repair advice from home care experts about a variety of topics ranging from plumbing to painting. Experts are available via phone or email, and can also provide recommendations for service providers in your area.

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Hippo insurance availability

Hippo insurance is currently available in 38 states. Unlike other providers, Hippo only offers homeowners, landlord and condo insurance. Hippo does not sell car insurance.

Map showing Hippo home insurance availability by state

Hippo insurance is not available in the following states: