Perry Homes and
Van Daele Homes join the Hippo New Homes Program
PALO
ALTO, Calif., Oct. 3, 2024
/PRNewswire/ -- Hippo (NYSE: HIPO), the home insurance group
focused on proactive home protection, announced today that it will
expand home builder access to its New Homes Program in California, Florida, and Texas. By the year's end, Hippo's New
Homes Program expects to provide access to insurance for almost
50,000 additional new homes in the three states, which,
according to the U.S. Census Bureau, accounted for more than a
third of new construction permits in the U.S. in 2023.
Hippo also announced Perry Homes
and Van Daele have joined the Hippo
New Homes Program, which already works with some of the nation's
leading home builders.
"In recent years, many of our home builder partners have
struggled to find a consistent insurance solution for new homes in
California, Florida, and Texas," said Rick
McCathron, Hippo's President and CEO. "These three states
are home to some of the hottest residential new construction
markets in the country, and our growth marks the beginning of a
nationwide expansion of Hippo's New Homes Program."
Hippo's New Homes Program provides home builders access to
insurance products specifically designed for new homes from a panel
of carrier partners. New Homes Program carriers simplify the
underwriting process by only using information about the house to
issue policies that typically provide lower deductibles and more
flexibility than a standard homeowner's policy.
Due to the historically lower risk associated with new
construction and based on average state premiums, Hippo and its
carrier partners can offer policies for new homes with premiums as
much as 69% lower in California,
42% lower in Florida, and 56%
lower in Texas than policies for
an existing home.
"Hippo's New Homes Program provides our Perry Homes customers with multiple quotes,
helping us deliver the customer experience our buyers deserve,"
said Todd Chachere, Chief Executive
Officer of Perry Homes. "Finding
homeowner insurance is an important part of the customer's journey,
and Hippo's New Homes Program provides a simple process despite
insurance challenges in the Texas
and Florida markets. Hippo's New
Homes Program allows us to focus on building quality homes and
providing superior customer service to our Perry Homes customers."
Hippo's homebuilder partners gain access to a scalable, embedded
insurance solution that streamlines the closing process for sales
teams, lenders, and homebuyers by automating the evidence of
insurance process.
"Over the last few years, it's become increasingly difficult for
buyers to secure homeowners insurance in California," said Lisa
Pereira, VP of Sales & Marketing at Van Daele Homes.
"Hippo's New Homes Program addresses that issue and is another
example of our commitment to delivering an unparalleled homebuyer
experience."
In addition to Perry Homes and
Van Daele Homes, Hippo works with four of the top twenty
homebuilders in the U.S. according to Zonda's 2024 Builder 100
list. The company plans to partner with additional home builders in
the coming months and expand access to new home insurance solutions
in other states.
To learn more about partnering with Hippo, visit
www.hippo.com/partnerships.
About Hippo
Hippo is protecting the joy of homeownership, helping to
safeguard customers' most important financial asset by harnessing
the power of real-time data, smart home technology, and a growing
suite of home services to deliver proactive home protection. Hippo
Holdings Inc.'s (NYSE: HIPO) operating subsidiaries include Hippo
Insurance Services, Hippo Builder Insurance Agency, Hippo Home
Care, First Connect Insurance Services, Spinnaker Insurance
Company, Spinnaker Specialty Insurance Company, and Mainsail
Insurance Company. First Connect Insurance Services is a licensed
property casualty insurance agent with products underwritten by
various insurance companies. Hippo's New Homes Program is offered
through Hippo Builder Insurance Agency. For more information,
including licensing details, visit http://www.hippo.com.
Contact
Mark Olson
press@hippo.com
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SOURCE Hippo Analytics, Inc
