Hippo Launches Proactive Home Protection in New York State

Rhea-AI Summary

Hippo (NYSE: HIPO) has announced its expansion into New York State, offering home insurance products to 4.5 million homeowners. This move significantly increases Hippo's reach, now covering 88.9% of the U.S. population across 38 states. The company aims to provide modern coverage, smart home devices, and personalized guidance through Hippo Home Care. With over 150 significant weather events recorded in New York over the past decade, Hippo emphasizes its proactive approach to home insurance, leveraging real-time data and technology for better customer support.

Positive

• Expansion into New York increases market reach to 88.9% of U.S. population.
• Offers modern home insurance coverage and smart home devices.
• Provides proactive support through Hippo Home Care to enhance customer experience.

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• None.

Hippo’s Expansion to the Empire State Further Diversifies its Portfolio, Reaching 88% of Americans in 38 States

PALO ALTO, Calif.--(BUSINESS WIRE)-- Hippo (NYSE: HIPO): Hippo Insurance Services announced today it will offer home insurance products in New York State, providing a smarter coverage option to the Empire state's 4.5 million homeowners¹, and marking an important step in Hippo’s geographic expansion. With New York, Hippo products now reach 88.9% of the U.S. population in 38 states.

New Yorkers can easily access Hippo’s proactive protection offerings, including modern home insurance coverage, complimentary smart home devices and Hippo Home Care – personalized guidance, quick fixes and trusted recommendations to help keep homes running smoothly – at hippo.com.

“We are changing how consumers think about home insurance and exceeding customer expectations by combining modern coverage with smart home technology and Hippo Home Care to deliver proactive protection for homeowners,” said Rick McCathron, President of Hippo. “Protecting the joy of homeownership in New York means expanding to the nation’s fourth most populous state, further diversifying our geographic portfolio and delivering better outcomes for our customers and our business.”

According to the National Weather Service, New Yorkers experienced more than 150 significant weather events over the last decade². The impact of climate change and new weather patterns calls for a data-driven, proactive insurance partner like Hippo with its intelligent warning systems that allow the company to spring into action after an event, proactively check on impacted customers and guide them through the claims process when necessary.

Hippo is transforming the home insurance industry by protecting the joy of homeownership through proactive and consumer-focused products and services. To learn more about Hippo’s insurance offerings or to get a quote, visit hippo.com.

About Hippo

Hippo’s goal is to make homes safer and better protected so customers spend less time worrying about the burdens of homeownership and more time enjoying their homes and the life within. Harnessing real-time data, smart home technology, and a growing suite of home services, we are creating the first integrated home protection platform. Hippo is headquartered in Palo Alto, California with offices in Austin and Dallas, Texas and insurance products available to more than 80 percent of U.S. homeowners in 38 states. Insurance products are offered through Hippo Insurance Services which is a licensed property casualty insurance agent with commercial and personal lines products underwritten by various insurance companies. Hippo Insurance Services writes business through its affiliate Spinnaker Insurance Company which is a national property and casualty insurer rated A- by A.M. Best Company. Spinnaker’s address is 1 Pluckemin Way, Suite 102, Bedminster, NJ. For more information, including licensing information, visit http://www.hippo.com.

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¹ https://www.census.gov/quickfacts/NY

² https://www.weather.gov/okx/stormevents

View source version on businesswire.com: https://www.businesswire.com/news/home/20220428005358/en/

Mark Olson / Courtney Klosterman

press@hippo.com

Source: Hippo

FAQ

What is Hippo's recent expansion news for New York State?

Hippo recently announced its expansion into New York, offering home insurance to 4.5 million homeowners.

How many states does Hippo operate in after the New York expansion?

After the New York expansion, Hippo operates in 38 states.

What percentage of the U.S. population is now covered by Hippo?

Hippo's coverage now reaches 88.9% of the U.S. population.

What innovative features does Hippo offer to New York homeowners?

Hippo offers modern home insurance coverage, smart home devices, and personalized guidance through Hippo Home Care.

Why is Hippo's reach into New York significant?

Expanding into New York, the fourth most populous state, diversifies Hippo's geographic portfolio and enhances consumer access to its services.