Know-how-driven insurer Hippo has expanded its business traces householders affiliation (HOA) insurance coverage providing into 15 further states after debuting it final August in Arizona.
Hippo’s HOA insurance coverage is now out there in Arizona, Colorado, Delaware, Idaho, Illinois, Indiana, Massachusetts, Maryland, Michigan, Nevada, Oregon, Pennsylvania, Tennessee, Utah, Wisconsin, and West Virginia.
Hippo stated it customizes its HOA coverage to every neighborhood, together with protecting property and techniques usually missed or excluded, equivalent to swimming swimming pools and different facilities. Hippo’s property and legal responsibility coverages are supplied inside one coverage and one bill, serving to communities keep away from managing separate payments throughout a number of insurance coverage firms. The insurer calculates there are 380,000 HOA communities nationwide.
California-based Hippo stated it is going to proceed to develop its business traces insurance coverage providing whereas constructing different merchandise that “assist prospects take a holistic strategy to homeownership.”
Hippo is partnering with cloud platform Socotra with its score algorithm, underwriting, and coverage administration on the HOA product.
“Since launching our HOA product, we have now seen sturdy market demand for insurance coverage insurance policies that work along side householders or condominium insurance coverage. To fulfill that demand, we’ve developed a contemporary product that features expanded protection, buyer help, and empathic claims concierges,” stated JoAnne Artesani, vp of Business Traces at Hippo.
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