- Hippo Homeowners Insurance Overview: Launched in 2015, Hippo aims to prevent home damage with smart sensors and a modern digital experience, but has faced financial and claims challenges since 2023.
- Pros and Cons of Hippo Insurance: Hippo offers proactive smart home devices, good coverage extras, fast digital quotes, and affordable policies, but struggles with high complaint rates, limited policy writing, and mixed customer reviews.
- Coverage Options and Features: Standard policies include comprehensive coverage for dwelling, personal property, and liability, with built-in extras like home office and jewelry coverage, plus options for flood and earthquake insurance.
- Pricing and Savings: Average premiums range roughly from $1,462 to $2,348 annually, with discounts for smart home devices and bundling; costs vary based on location and carrier.
- Claims Experience and Customer Satisfaction: Hippo’s claims process is handled digitally with no agents, but the company has a very poor complaint index and mixed reviews, indicating inconsistent claims handling despite innovative prevention efforts.
Hippo Homeowners Insurance Overview
Hippo launched in 2015 with a pitch that homeowners’ insurance should prevent damage, not just pay for it after the fact. The idea: give policyholders free smart home sensors, use data to catch problems early, and build a modern insurance experience around it. The company went public via a SPAC in 2021 on the NYSE (ticker: HIPO) and grew quickly.
Then things got difficult. In mid-2023, Hippo paused writing new policies under its own program after a catastrophic gross loss ratio of 178% in Q2 2023, driven by wind and hail damage. The company responded with rate increases, deductible hikes, and policy non-renewals. As of early 2026, most new Hippo customers are matched with third-party insurance carriers rather than getting a Hippo-underwritten policy through Spinnaker Insurance. Hippo has selectively resumed writing its own policies, but availability is limited.
The complaint data is concerning. Spinnaker Insurance, Hippo’s underwriting subsidiary, had a NAIC complaint index of 4.45 in 2024. That is the second-worst in the homeowners insurance industry, behind only one other carrier. Combined with the business model uncertainty and the lack of J.D. Power data, there are real questions about whether Hippo’s innovative approach can deliver on the basics of paying claims reliably and treating customers well.
Pros and Cons
Pros
- Proactive smart home approach: Hippo provides free smart home sensors (water leak detectors, smoke detectors, entry sensors) with every policy. The goal is to prevent claims before they happen. Partnerships with SimpliSafe, Ring, and ADT expand the offering.
- Good built-in coverage extras: Standard policies include home office coverage (up to $10,000), computer equipment coverage (up to $10,000), jewelry coverage (up to $5,000), and water backup coverage (up to $10,000). These are add-ons at most competitors.
- Fast digital experience: 60-second quotes, fully online purchase, and app-based policy management. The digital experience is genuinely ahead of most traditional carriers.
- Can be affordable: Some analyses put the average Hippo policy at $1,462/year, well below the national average. But pricing varies widely.
- Mortgage payment protection: An optional add-on that covers up to $1,500/month for up to 12 months if your home is uninhabitable. This is unusual and genuinely useful.
- Recovering financials: Q4 2024 marked Hippo’s first positive adjusted EBITDA ($8.5 million). The gross loss ratio improved 94 points year-over-year by Q2 2024.
Cons
- Second-worst NAIC complaint rate: Spinnaker’s complaint index of 4.45 in 2024 is more than 4x the industry baseline. This is a major red flag for claims handling.
- Paused writing own policies: In Q2 2023, Hippo stopped writing new policies under its own program. Most new customers are now matched with third-party carriers, and the experience depends on which carrier you get.
- No J.D. Power data: Hippo is not ranked in J.D. Power’s claims or overall satisfaction studies. There is very little independent data on claims performance.
- Not yet profitable: Hippo lost $273 million in 2023 (net loss). While financials are improving, the company has never turned a full-year net profit.
- No local agents: Everything is digital. There is no one to sit down with.
- Multiple rounds of layoffs: Hippo cut 10% of its workforce and later another 20%. Current headcount is roughly 596 employees. Workforce instability is a concern.
Coverage Options
Standard Coverage
When you get a Hippo-branded policy (through Spinnaker), the standard HO-3 coverage includes:
Coverage Type | What It Covers | Notable Details |
Dwelling (A) | Your home’s structure, roof, walls, and built-in systems | Standard limits |
Other Structures (B) | Detached garages, sheds, fences | Typically, 10% of dwelling coverage |
Personal Property (C) | Furniture, electronics, clothing, belongings | Includes $10K computer equipment and $5K jewelry |
Loss of Use (D) | Additional living expenses if the home is uninhabitable | Hotel, meals, temporary housing |
Personal Liability (E) | Lawsuits for bodily injury or property damage | Standard limits; umbrella available |
Medical Payments (F) | Medical bills for guests injured on your property | No-fault coverage |
Built-In Extras
Hippo includes several coverages in the standard policy that most competitors sell as add-ons:
- Home office coverage: Up to $10,000 for work-from-home equipment, furniture, and supplies. Built into the base policy.
- Computer equipment: Up to $10,000 for computers, laptops, tablets, and similar devices.
- Jewelry and watches: Up to $5,000 coverage included. Most standard policies cap jewelry at $1,500–$2,500.
- Water backup: Up to $10,000 for damage from sewer backup or sump pump overflow.
- Free smart home sensors: Water leak detectors, smoke detectors, entry sensors, and, in some cases, security cameras. Provided at no cost with your policy.
Add-Ons
- Mortgage payment protection: Up to $1,500/month for up to 12 months if your home is uninhabitable after a covered loss. Uncommon among competitors.
- Equipment breakdown: Covers mechanical and electrical failure of home systems and appliances.
- Earthquake coverage: Available as an optional endorsement.
- Umbrella insurance: Extended liability protection beyond your homeowners’ limits.
- Flood insurance: Available separately.
What’s Not Covered
Standard exclusions: flood (separate policy required), earthquake (add-on available), normal wear and tear, pest damage, and intentional damage. If you are matched with a third-party carrier instead of Spinnaker, your coverage options may differ from what is listed here.
Discounts and Savings
Hippo’s discount menu is thinner than traditional carriers:
Discount | Estimated Savings | Details |
Smart home devices (self-monitored) | ~$64/year (avg.) | 5–15% off; Hippo provides a free sensor kit |
Smart home devices (professionally monitored) | ~$91/year (avg.) | Higher discount with ADT or similar professional monitoring |
Companion policy (bundling) | Varies | Bundle with Hippo-distributed auto insurance; limited availability |
That is a much shorter list than Nationwide (12 discounts), Liberty Mutual (11+), or Farmers (13+). Hippo’s discount philosophy is different: rather than offering a menu of small discounts, the company builds smart home savings directly into the premium. But for discount-conscious shoppers, there is less to work with.
Claims Experience
The Elephant in the Room
This is Hippo’s weakest area, and the complaint data is alarming:
- NAIC Complaint Index (Spinnaker, 2024): 4.45. This is the second-worst in the homeowners insurance industry. For context, the baseline is 1.0, Lemonade’s is 3.85, and most traditional carriers are between 0.37 and 2.86.
- J.D. Power: Not ranked. Hippo does not have enough claims volume to be included in J.D. Power’s studies, which means there is very little independent validation of claims performance.
- Customer reviews: Mixed. Some customers praise fast, simple claims for small issues. Others report significant delays, lowball offers, and difficulty reaching humans for complex claims.
- Historical trend: From 2019 to 2021, Hippo received about 50% fewer complaints than average. The spike to 4.45 happened as the company struggled with catastrophe losses and paused writing its own policies.
The bottom line: Hippo’s proactive approach to preventing claims is innovative. But when claims do happen, the data suggests customers are more likely to have a bad experience than with almost any other major carrier. The 4.45 complaint index is hard to overlook.
How to File a Claim
Claims can be filed through:
- The Hippo mobile app
- Online at hippo.com
- By calling 1-800-886-0318 (available 24/7)
Hippo says adjusters typically call within 2 hours of a claim being filed. The app supports photo uploads and connects you with vetted repair professionals. If your policy is with a third-party carrier, the claims process may differ.
Customer Service and Digital Experience
Digital-Only
Hippo has no agents, no offices, and no in-person service. Everything is handled through the app, website, or phone. This is fine for routine policy management, but it can be frustrating during complex claims when you want to talk to someone who knows your case.
Satisfaction Scores
Third-party ratings are mixed at best:
- TrustedChoice: 2.75/5
- Trustpilot: 3.2/5
- BBB: A rating, 2.66/5 from reviews
- The Zebra: 1.0/5
These are among the lowest scores in our review set. For comparison, Amica gets 4.5/5 on Trustpilot, and USAA gets consistent 4+ ratings. Hippo’s scores reflect the complaints about claims handling, the policy pause, and the transition to matching customers with third-party carriers.
The Smart Home Experience
If there is one area where Hippo delivers, it is smart home integration. The free sensor kit (water leak detectors, smoke detectors, entry sensors) is a genuinely useful perk. Partnerships with SimpliSafe, Ring, and ADT give you options for professional monitoring. The proactive monitoring can catch water leaks and fire hazards before they become claims, which is a fundamentally different approach from traditional insurance. If loss prevention matters to you, Hippo is doing something no other major carrier is.
Financial Strength
Hippo’s financial position is improving, but it still carries risk:
- AM Best: A- (Excellent) for Spinnaker Insurance Company, Hippo’s underwriting subsidiary.
- Revenue: ~$450 million trailing twelve months (as of September 2025). Q1 2025 revenue was $110 million, up 30% year-over-year.
- Adjusted EBITDA: First positive quarter in Q4 2024 ($8.5 million). A milestone, but not sustained profitability.
- Net losses: $273 million net loss in 2023 (improved 18% from 2022). Not yet profitable on a net income basis.
- Market cap: ~$925 million (as of late 2025).
- Cash and investments: $528 million (Q1 2025).
- Spinnaker statutory surplus: $198 million.
- Workforce: ~596 employees after multiple rounds of layoffs.
What this means for you: Spinnaker’s A- rating from AM Best is respectable, and the company can pay claims. But Hippo has never posted a full-year net profit, and multiple rounds of layoffs signal ongoing financial pressure. The recovery is real (Q4 2024 positive EBITDA, improving loss ratios), but it is early. If financial stability is a top priority, traditional carriers like Travelers (A++), USAA (A++), or State Farm (A+) are safer bets.
Who Is Hippo Good For?
Best For
- Tech-forward homeowners in newer homes: Hippo was designed for modern homes with fewer legacy issues. If you have a newer home and want smart sensors to prevent water damage and fire hazards, Hippo’s proactive approach is genuinely different.
- Homeowners who want built-in home office and device coverage: $10K in home office coverage and $10K in computer equipment coverage are included. That is a real perk for remote workers.
- First-time homeowners open to a digital-only experience: If you are comfortable managing everything through an app, Hippo’s quoting and policy management are fast and simple.
Not Ideal For
- Anyone who prioritizes claims experience: A 4.45 NAIC complaint index is the second-worst in the industry. The data clearly says claims handling is a problem.
- Homeowners who want a traditional, established carrier: Hippo has only been around since 2015, has never turned a profit, paused writing its own policies in 2023, and has gone through multiple layoffs.
- Anyone who wants a local agent: Hippo is digital-only. No agents, no offices.
- Homeowners who want certainty about their underwriter: You may get Spinnaker (Hippo’s subsidiary), or you may be matched with a third-party carrier. The experience differs depending on which company you get.
- Discount-conscious shoppers: Only 3 discount categories, compared to 10+ at most traditional carriers.
How to Get a Quote
Hippo offers one way to get a homeowners’ insurance quote:
- Online at hippo.com (takes about 60 seconds)
Important: When you complete your quote, pay attention to which company will actually underwrite your policy. If it is Spinnaker, you are getting a Hippo-underwritten policy with the smart home sensors and built-in extras. If you are matched with a third-party carrier, your coverage, pricing, and claims experience may be different from what is described in this review.
How Hippo Compares
Hippo | Lemonade | Nationwide | |
Overall Rating | 2.5 / 5 | 3.0 / 5 | 4.0 / 5 |
Avg. Annual Premium | ~$1,462–$2,348 | ~$1,449 | ~$2,223–$2,610 |
AM Best Rating | A- (Excellent) | B+ (Good) | A+ (Superior) |
J.D. Power Claims | Not ranked | Not ranked | 709 / 1,000 |
NAIC Complaint Index | 4.45 (Spinnaker) | 3.85 | 0.84 |
Smart Home | Free sensors, 5–15% discount | None | Free Ting fire sensor |
States Available | 37–40 (limited direct) | 29 + D.C. | 44 + D.C. |
Best For | Tech-forward / new homes | Digital-first budget | Coverage depth |
Hippo vs. Lemonade
Both are insurtechs targeting digital-first homeowners. Lemonade has a better app, a more established customer base (2.4 million), and the Giveback program. Hippo has better built-in coverage extras (home office, computer equipment, water backup) and the smart home sensor approach. But both have terrible NAIC complaint indices (4.45 and 3.85, respectively). Neither has J.D. Power data. If you are choosing between the two, Hippo is better for newer homes with smart home integration; Lemonade is better for budget-conscious renters or simple homeowners’ policies.
Hippo vs. Nationwide
This is not a close comparison. Nationwide has an A+ rating, J.D. Power 709 (above average), NAIC 0.84 (below baseline), and ranks #1 for coverage options with a well-rated app and the free Ting sensor. Hippo has a lower financial rating, the second-worst complaint index, no J.D. Power data, and recently paused writing its own policies. Nationwide costs more, but the quality gap is significant. For most homeowners, Nationwide is the clearly better choice.
Final Verdict
Hippo earns a 2.5 out of 5 in our review. The smart home approach is innovative, the built-in coverage extras (home office, computer equipment, water backup) are better than what most standard policies include, and the 60-second quoting experience is slick. If preventing claims before they happen appeals to you, Hippo is doing something no other major carrier is.
But the fundamentals need work. A 4.45 NAIC complaint index is the second-worst in the industry. There is no J.D. Power data to independently validate claims performance. The company paused writing its own policies in 2023 and has not yet turned a full-year net profit. Multiple rounds of layoffs and mixed customer reviews add to the uncertainty. Hippo is a company with a compelling vision that has not yet proven it can execute consistently.
If you are in a newer home and want smart home integration, get a Hippo quote and compare it to Nationwide (which offers a free Ting fire sensor and has far better claims data). But for most homeowners, traditional carriers like Amica, USAA, State Farm, or Erie will deliver a more reliable experience.
Our Methodology
This review uses a weighted scoring system: coverage options (25%), pricing and value (20%), claims experience (20%), customer service (15%), discounts and savings (10%), and digital experience (10%).
Frequently Asked Questions
Answers to your questions about Hippo home insurance.
Hippo’s proactive approach to loss prevention is innovative, and the built-in coverage extras are better than what most standard policies include. But the numbers tell a different story. Spinnaker’s NAIC complaint index of 4.45 is the second-worst in the industry; there is no J.D. Power data, and the company paused writing its own policies in 2023.
Hippo is a publicly traded company on the NYSE (ticker: HIPO), founded in 2015 and headquartered in San Jose, California. It operates through Spinnaker Insurance Company, which holds an A- (Excellent) rating from AM Best. Hippo generates about $450 million in annual revenue and is licensed to operate in 37 to 40 states. It is a real company, but it is younger and less proven than traditional carriers. The financial trajectory is improving (first positive EBITDA in Q4 2024), but Hippo has never posted a full-year net profit.
Average premium estimates range from $1,462 to $2,348 per year, depending on the source. Hippo claims to be 17% cheaper than competitors on average. Smart home discounts (5% to 15%) can bring costs down further. Your actual rate depends on your state, home age, coverage amounts, and which carrier underwrites your policy.
Selectively. In Q2 2023, Hippo paused writing new policies under its own program due to heavy catastrophe losses. As of early 2026, the company has resumed writing Spinnaker-underwritten policies in some states and for some customer profiles, but most new customers are still matched with third-party carriers. When you get a quote, pay attention to which company will underwrite your policy.
Hippo provides a free smart home sensor kit with new policies, typically including water leak detectors, a smoke detector, an entry sensor, and, in some cases, a security camera. Partnerships with SimpliSafe, Ring, and ADT expand the offering with professional installation and monitoring options. Using the devices qualifies you for a 5% to 15% premium discount.
Yes to both. Earthquake coverage is available as an add-on endorsement. Flood insurance is available as a separate policy. Both are excluded from the standard homeowners policy.
