Haris Ashley
Hippo Insurance is a newer insurance company that offers home insurance in the US. It is currently not rated by J.D. Power for customer or claims satisfaction, but it has an AM Best rating of A- (Excellent), indicating that it has successfully met its claims obligations in the past. Reviews on the Better Business Bureau (BBB) website are mixed, with some praising Hippo's low rates, seamless experience, and excellent customer service, and others complaining about poor customer service, delays in claims processing, and difficulty reaching desk adjusters and supervisors. Overall, Hippo's rating is low due to a lack of policy options, but it has well-established partners with strong financial standings.
| Characteristics | Values |
|---|---|
| Customer Service | Mixed reviews, some praise their proactive and courteous customer service, while others criticise their claims team as a "joke" and report difficulties in getting in touch |
| Affordability | Generally praised for their low rates and competitive pricing |
| Speed | Some customers report speedy response times and quick policy issuance |
| Technology | Offers smart home monitoring kits and a highly-rated mobile app |
| Flexibility | Offers customizable coverage and a range of discounts, including affinity, hail-resistant roof, HOA, and companion policy discounts |
| Coverage | Some customers report being dropped by Hippo after minor issues, while others praise their coverage of unique needs |
| Overall Rating | Rated A- (Excellent) by AM Best, indicating they have successfully met their claims obligations in the past; however, their overall rating score is low due to a lack of policy options |
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Customer satisfaction
Customer reviews of Hippo Insurance are mixed. While some customers praise Hippo for its low rates, seamless experience, and proactive customer service, others complain about its terrible customer service, unresponsiveness, and intrusive policies.
Some customers have reported that Hippo provides excellent customer service, with representatives going out of their way to ensure customer satisfaction. They also highlight the company's seamless experience, proactive approach, and quick and easy policy issuance. In addition, customers appreciate Hippo's low rates, the option to bundle modern coverage with smart home technology, and the free smart home monitoring kit offered to eligible homeowners. Hippo's claims process is considered relatively simple, and the company provides a dedicated claims concierge to guide customers through the process.
However, other customers have expressed dissatisfaction with Hippo's customer service and claims handling. Some reviews mention unresponsiveness, difficulty in obtaining quotes, and intrusive policies that require customers to take pictures inside their homes to adjust rates higher upon renewal and potentially deny future claims. There are also complaints about the claims process being less smooth and the likelihood of being denied coverage.
Third-party ratings for Hippo's customer satisfaction are mixed as well. While the company has an excellent AM Best rating of A-, indicating its ability to meet claims obligations in the past, it lacks J.D. Power customer and claims satisfaction scores. According to Consumers Advocate, Hippo scores 4.8 out of 5 stars based on 53 customer reviews for its home insurance products. Reviews.com gives Hippo home insurance a score of 4.3 out of 5, considering coverage, customer experience, and financial stability. The Zebra's Customer Satisfaction Survey also provides insights into customer satisfaction with Hippo's auto and home insurance.
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Claims process
The claims process for Hippo Insurance has received mixed reviews. While some customers have praised the company for its speedy response times and transparency, others have had negative experiences with the claims department.
Hippo Insurance offers 24/7 claims reporting by phone and email. The company strives to make filing claims easy and painless and provides a dedicated claims concierge to walk customers through the process. The claims concierge will gather details about the loss and review the claims details and coverage. They will then assign an adjuster to further assist with the claim. According to Hippo, most claims are responded to either the same day or the following day, with an average response time of five to seven days. However, it's important to note that this is a response time, not a payout time frame. The time it takes to receive a payout can range from several weeks to several months.
The claims process can vary depending on multiple factors, including location, home age, and the extent of the damage. Additionally, Hippo uses multiple underwriting partners, which can further impact the consistency of the claims process.
Some customers have expressed dissatisfaction with Hippo's claims process, citing issues such as unexpected changes to deductible amounts and difficulty in reaching a representative. There have also been complaints about high renewal rates and a lack of response. However, it's worth noting that most customer feedback about Hippo Insurance is positive, with praise for their coverage and customer service.
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Customer service
Customer reviews of Hippo Insurance are mixed. While some customers praise the company's customer service, others express dissatisfaction and frustration.
Positive reviews highlight Hippo's responsive, proactive, and courteous customer service. Customers report that the company's agents are helpful, efficient, and knowledgeable. They also appreciate the convenience of Hippo's online tools, such as the 60-second quote tool and the ability to manage policies online. Hippo's competitive pricing, smart home monitoring kits, and highly-rated mobile app are also mentioned as positives.
On the other hand, negative reviews cite issues with responsiveness and claim handling. Some customers report difficulties in reaching the company by phone and challenges with claim approvals and payouts. There are also complaints about intrusive policies, such as requiring customers to take pictures or videos of their homes for rate adjustments and claim purposes.
Hippo's overall rating scores are low due to a lack of policy options and mixed customer satisfaction levels. The company's limited availability and lack of J.D. Power customer satisfaction scores have also impacted its ratings. However, it is worth noting that Hippo's innovative coverage options, discounts, and use of technology are appealing to some customers.
To ensure a positive experience, customers are advised to work with independent insurance agents who can assist with claims and other matters. Hippo assigns a claims concierge to help with the claims process and provides extended phone support hours during the week and on Saturdays, as well as email support.
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Financial health
Hippo Insurance, founded in 2015, is a relatively new insurance company that focuses on providing modern and innovative home insurance coverage. While they do not offer a wide range of policy options, they aim to protect one of your biggest investments by offering coverage for electronics, appliances, home office equipment, and more.
When it comes to financial health, Hippo Insurance has a mixed reputation. On one hand, they are not rated by AM Best for financial strength, which may be a concern for some customers. Additionally, they have a relatively low rating of "B-" from the Better Business Bureau (BBB), indicating a lower-than-average level of customer satisfaction.
However, it's important to note that Hippo's reinsurers and insurance partners were given an A- rating by A.M. Best, indicating a strong financial ability to pay out claims. This suggests that Hippo has well-established partners with strong financial standings.
In terms of financial stability, there have been some concerns raised by customers. Some reviewers have mentioned that Hippo has laid off a significant percentage of its workforce, which may indicate financial issues or a need to cut expenses. Additionally, some customers have expressed frustration with unexpected changes to their deductible amounts and policy types, which could impact their financial standing in the event of a claim.
Overall, while Hippo Insurance has a relatively low rating from the BBB and is not rated by AM Best, their partners have strong financial standings. However, customer experiences vary, and some have expressed concerns about unexpected changes and potential financial issues. Therefore, it is essential to consider all aspects of their financial health before making a decision.
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Discounts
Hippo Insurance is a legitimate insurance provider offering home insurance. The company takes a tech-forward approach to home and condo insurance, offering a smart home kit to eligible customers at no additional charge. This kit includes smart home sensors to help prevent damage and danger, such as water sensors, smoke detectors, entry sensors, and a security camera.
Hippo offers a long list of discounts to lower your payments, including:
- Smart home discount: Customers with smart home devices installed in their properties can receive a discount of up to 10% on their annual premium for self-monitored systems and up to 13% with a professionally monitored system.
- HOA discount: Offered to customers who are part of a Homeowners Association (HOA).
- Loss-free discount: Offered to customers who have remained claims-free for at least three to five years, depending on the policy's terms.
- Affinity discount: Offered to customers who are affiliated with certain groups, such as professional associations, membership clubs, or alumni groups.
- Hail-resistant roof discount: Offered to customers with qualifying impact-resistant roofs.
- Home buyer discount: Offered to customers who have purchased their homes within the last 12 months.
Hippo also offers a companion policy discount to homeowners who bundle home and auto insurance, even if they have car insurance with one of Hippo's partner companies. Additionally, if you or your spouse have active auto insurance with any company, you may qualify for a Hippo discount.
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Frequently asked questions
Hippo has an AM Best rating of A- (Excellent), indicating that it has successfully met its claims obligations in the past.
Hippo Insurance Services has a rating of 1.0/5 stars on Better Business Bureau. However, another source indicates that Hippo is accredited by the Better Business Bureau.
Hippo Insurance is not rated by J.D. Power for customer or claims satisfaction. However, one source mentions that Hippo is highly rated by J.D. Power and available in 48 states and Washington, DC.
