Hippo Launches with Promise of 60-Second Homeowners Insurance Quote

By | April 26, 2017

  • April 26, 2017 at 2:36 pm
    Agent says:
    Hot debate. What do you think?
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    Ha, Ha, Ha, Ha, Ha, Ha. Good luck Homeowners if you have a claim with this fake insurance company.

  • April 26, 2017 at 3:03 pm
    PIA says:
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    Oh Wow… This is dangerous!
    I just compared a quote from here to my own policy.
    They want to cover my house for $100k less than my current policy, but theirs also costs more.

    They wanted to cover me for $200 per square foot (rebuild cost). In my experience that isn’t even close to what it costs in the bay area.

    If anyone thinks they are getting a good deal here, please.. find an agent and call them.

    • May 1, 2017 at 12:32 pm
      Einstein says:
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      Yeah but their software has the power to predict the future so none of the homes they insure will have a total loss (ever). So you should be happy that their software determined that your home is safe from a total loss, forever.

      • May 1, 2017 at 3:06 pm
        PolarBeaRepeal says:
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        Does the HIPPO coverage work on an excess basis, with the attachment point in excess of the TIV?

  • April 26, 2017 at 3:37 pm
    Jack Kanauph says:
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    The average person is not well versed in insurance, which can be a danger. They won’t know what limits to pick, the value to cover, what the add-ons mean, … People will pick the wrong coverages, have a loss, then find out they were under-insured. And because there was no “advisor”, they’ll have no one to sue.
    Also, is Hippo an AM Best rated carrier? How will the mortgage holders deal with this?

  • April 26, 2017 at 3:50 pm
    Joe Actuary says:
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    Well the quoting engine did a very efficient job of generating a ridiculous price. I was able to get through the process in a minute or two. The coverage limits offered were pretty close to what I carry today. The price was 60% higher. Oh please sign me up!!! On second thought, maybe not.

  • April 26, 2017 at 4:00 pm
    sarcasm says:
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    The problem is, this company is aimed at taking advantage of the internet generation that trusts everything they read on web. Who needs prior wisdom or input, right? In the end, this insurance company will win, because this gen will eat it up quickly, before a claim occurs and they find out it’s garbage. By then the owners hope to sell it to Statefarm or Allstate for it’s 60-sec tech. MARK MY WORDS.

    • April 26, 2017 at 9:11 pm
      County Line says:
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      So right you are, Sarcasm. This start-up is not about sustainability; it is about creating market buzz and then selling the concept while the sizzle is still on the steak. Then the creator/seller of this Frankenstein will be set for life, while the business model tanks in the hands of whatever corporate fool bought it.

      • May 31, 2018 at 1:12 pm
        Nena Ammons says:
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        I read similar reviews on eSurance way back when and looks at how they have grown and prospered. This is a new company. Give it a break.

    • April 27, 2017 at 10:52 am
      Agent says:
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      70% of all Millennials who rent don’t buy Renters coverage. The failure to launch crowd don’t buy homes so they don’t need coverage when they are living in Mom’s basement.

  • April 26, 2017 at 10:18 pm
    PolarBeaRepeal says:
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    Sixty seconds to insolvency… READY, STEADY, …. GO!

  • April 27, 2017 at 8:50 am
    Logic says:
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    Hippo is an MGA, not a carrier. TOPA backs the policies, but their track-record is suspect at best, so buyer beware. Still, I appreciate the concept. The underwriting and distribution process is simply too expensive.

    • April 27, 2017 at 10:49 am
      Agent says:
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      Hey Logic, smart operating systems like that of Vertafore can compare rates with numerous different companies on single entry. Why is that too expensive? A good CSR can knock out a quote in only a few minutes. It will be accurate and the company will issue.

  • April 27, 2017 at 11:44 am
    wvagt says:
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    Let’s see, there’s Elephant for auto and Hippo for homeowners – what’s next, Vulture for everything else?

    • May 8, 2017 at 4:37 pm
      Agents says:
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      wvagt, actually Next is next. Perhaps they can combine start up money to form a real insurance company.

  • April 27, 2017 at 1:35 pm
    Captain Planet says:
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    You can’t get abs in 7 minutes and you can’t get adequate coverage analysis and proper pricing in 60 seconds.

    • April 27, 2017 at 6:21 pm
      COyeti says:
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      Its just moving homeowners towards the auto model and FYI that trend isn’t going away. There is no need to value each individual family home down to +/- $1000. Just ballpark within 20% and call it a day. A few larger carriers already do away with ISO forms and have one comprehensive policy with maybe 5 extra forms to customize. Sure there is a cost to erring high in valuations/coverage, but the efficiencies in operations and underwriting will make up for the extra rate for a large (over 50%) of insureds.

      • May 1, 2017 at 10:17 am
        Confused says:
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        “Just ballpark within 20% and call it a day.”

        On a $500,000 home, that’s a $100,000 difference! Either it’s overvalued and the insured is paying an artifically high premium or it’s undervalued and you’re not Insuring to Value. I do not think that is a good business model.

        • May 1, 2017 at 1:12 pm
          COyeti says:
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          That already happening in the industry! Take your $500k house… who is saying the true replacement cost is $500k? Have the insured talk to 10 different agents (or most likely agent’s staffs) and they’re going to come up with 10 different values that are probably within $400k-$600k. And that’s if the insured is reasonably aware of their house’s specs (which the vast majority aren’t). Now take 10 more professional appraisals and compare that to 10 general contractors estimates… you know its going to be all over the board. Most major insurers already know this which is why any good policy has a 20%-20% total loss increase rider. There are a lot of cost savings available to insures for the ones that will just admit what the game they are playing actually is.

  • April 27, 2017 at 2:31 pm
    lolz says:
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    Love the trolling here…..welcome to 2017 doubters….

    CSRs are bums….

    • May 1, 2017 at 1:18 pm
      COyeti says:
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      I think you have it slightly off. CSRs aren’t going away. In fact the number of CSRs will likely increase as more and more mainstream personal lines insures move towards a larger direct model… That is why these guys are mad. The agency model is only going to decrease on the personal lines side the next 20 years.

  • April 27, 2017 at 2:53 pm
    Jax Agent says:
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    I read the first couple of words of the title of the article and thought that Hillary had announced her intent to run in 2020.

    • May 8, 2017 at 4:39 pm
      Agent says:
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      Well, she is trying to stay relevant and she is up to 30 excuses on why she lost. She may be as old as Bernie by 2020.



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