Technology-driven insurer Hippo has expanded its commercial lines homeowners association (HOA) insurance offering into 15 additional states after debuting it last August in Arizona.
Hippo’s HOA insurance is now available in Arizona, Colorado, Delaware, Idaho, Illinois, Indiana, Massachusetts, Maryland, Michigan, Nevada, Oregon, Pennsylvania, Tennessee, Utah, Wisconsin, and West Virginia.
Hippo said it customizes its HOA policy to each community, including covering property and systems often overlooked or excluded, such as swimming pools and other amenities. Hippo’s property and liability coverages are provided within one policy and one invoice, helping communities avoid managing separate bills across multiple insurance companies. The insurer calculates there are 380,000 HOA communities nationwide.
California-based Hippo said it will continue to grow its commercial lines insurance offering while building other products that “help customers take a holistic approach to homeownership.”
Hippo is partnering with cloud platform Socotra with its rating algorithm, underwriting, and policy administration on the HOA product.
“Since launching our HOA product, we have seen strong market demand for insurance policies that work in conjunction with homeowners or condo insurance. To meet that demand, we’ve developed a modern product that includes expanded coverage, customer support, and empathic claims concierges,” said JoAnne Artesani, vice president of Commercial Lines at Hippo.