Type to search

How home insurance fails thousands of households each year


How home insurance fails thousands of households each year


Let’s start with some brash honesty. By cocktail party standards, home insurance ranks somewhere between garden fertilizer and dental hygiene for conversational excitement. But that’s only true until you need it.

For most of us, our home is our largest purchase and shelters our prized possessions. But a home is more than that. It’s our safe place, where we can be ourselves; the feeling of comfort when you come home from a long trip; the sound of children’s feet running to meet us at the door when we get home. It’s where we raise our families and make memories.

So when disaster strikes your home, it turns your world upside down in an instant — leaving you praying that your home insurance has your back. Unfortunately for many, that’s not always the case. Two-thirds of American households are underinsured. Which means that when your kitchen catches fire, your basement floods or a tree falls on your roof, you might not have the coverage you need to replace and rebuild.

Two-thirds of American households are underinsured. Which means that when your kitchen catches fire, your basement floods or a tree falls on your roof, you might not have the coverage you need to replace and rebuild.

The home insurance industry is failing tens of thousands of families each year at the time they need it the most. At Hippo, we’re committed to fixing this.

Home Insurance hasn’t kept up with the times

Traditional home insurance has not evolved with the times — and that’s a big problem for modern homeowners.

Home insurance may be one of the last products that you can’t easily buy online. It’s still sold almost exclusively through insurance agents. While agents can help sift through the fine print, they also focus on upselling more expensive products — after all, that’s how they make their money.

Then, there’s the policy itself, which offers ‘standard’ coverage for things that today’s households don’t even own anymore, and makes you pay extra for the things you really need. So when it comes time to file a claim, you find you’re covered for pewter bowls and cassette tapes, but not for your home office equipment or water damage caused by a clogged sewage line.

So what did you pay that agent for again?

Home Insurance for the Modern Household

At Hippo, we took everything that’s wrong with home insurance — the confusing forms, the outdated policy, the agent as middleman — and fixed it. Here’s how:

Better coverage:

We redesigned our coverage from the ground up, removing the stuff that no one owns anymore (like savings bonds and fur coats) and increasing coverage for things that today’s homeowner needs (like computers and home offices).

Next, we upped your payout if a loss does happen. Our standard policy pays the replacement cost of your belongings instead of their depreciated value, and we automatically increase coverage if rebuilding costs surge after a catastrophe.

Finally, we expanded the breadth of coverage to provide more comprehensive protection. All our policies may include coverage for damage to service lines (water, sewage), water backup, and breakdown of expensive home equipment like boilers and HVAC helping you avoid unpleasant surprises down the road.

Lower cost:

We offer a better product at a better price because we use modern technology to run more efficiently, we don’t use expensive commissioned agents and we don’t spend insane amounts of money on things like Super Bowl ads. That’s savings in your pocket.

Fast and easy:

Our online application is simple, clear and mostly pre-filled based on available data about your new home. You can get a price quote and purchase your policy online in minutes — even from your mobile phone.

Feel Confident You’re Covered

We don’t think homeowners insurance should be something you push to the back of your mind until you need it — only to then be let down. We want to give you the confidence that comes with being truly covered from the beginning, so you can focus on enjoying your home.

Because peace of mind is what home insurance should be all about. With Hippo, we’ve got you covered. And I’d like to personally invite you to come see for yourself, at www.hippo.com.

Assaf Wand, CEO / Co-Founder, Hippo Insurance