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Hippo Insurance and SimpliSafe Partner to Offer Homeowners Insurance Policy with Home Alarm Devices and Accompanying Professional Monitoring Capabilities

Proactive Monitoring Can Yield Faster Response Times to Theft, Water and Fire Damage, Saving Homeowners Thousands in Potential Damages

PALO ALTO, Calif. & BOSTON--(BUSINESS WIRE)--#fundingnews--Hippo Insurance, the high-growth company that’s transforming home insurance and ownership, and SimpliSafe®, maker of award-winning home security systems, today announced a partnership that will provide homeowners access to more options and enhanced peace of mind when it comes to protecting their homes. The partnership will expand the suite of services available within Hippo’s extensive smart home program to include professionally monitored devices from SimpliSafe, which protects more than 3 million people today.


New Hippo Insurance customers in select states who enroll in its smart home program will now be eligible to receive a professionally monitored home alarm system from SimpliSafe, provided completely complimentary with their homeowners’ policy. The 7-piece SimpliSafe home security system tailored for Hippo customers will include a SimpliCam® HD camera, two water sensors, smoke detector, window or door entry sensor, keypad and base station. As part of the offer, eligible customers will also receive two free months of 24/7 interactive monitoring and a meaningful discount on their annual home insurance premium. After the initial two month period, customers in the program will pay for professional monitoring, which starts at $14.99 per month.

Hippo Insurance has already sent over 200K self-monitored smart sensors to its customers and learned how to match home insurance with smart home capabilities in a way that benefits the customer first and foremost. Hippo developed a tailored smart home program over two years ago, initially launching with self-monitored sensor kits. As activation rates for smart sensors increased throughout the program, now topping over 70 percent, a growing number of Hippo customers have requested an even more extensive smart home option. SimpliSafe’s professional monitoring capabilities will deliver just that and will afford users greater simplicity, speed, peace of mind and ultimately, cost savings.

“The growth of our smart home program has revealed that customers want more flexibility and options when it comes to protecting their home,” said Yuval Harry, VP of Partnerships at Hippo. “Our partnership with SimpliSafe, an innovative leader in home security and whole home protection, allows us to introduce a new caliber of smart home devices for our customers, with the goal of expanding to even more states to ensure that a deeper level of proactive protection is available to those who want it.”

With nearly 40 percent of claims filed by Hippo Insurance customers related to fire, water damage, property damage or theft, Hippo and SimpliSafe will help homeowners curb potential damages from four of the most damaging insurance perils.

Water Leaks: Not only are unanticipated water leaks the second most frequent Hippo home insurance claim (more than 25 percent), but they can be the most costly. SimpliSafe’s water sensors trigger an alarm whenever one comes into contact with water, detecting water levels as low as the width of a credit card.

Theft: While home intrusions can inflict limitless financial and emotional damage, Hippo found that residences in 10 percent of burglary claims did not have a camera installed. Beyond providing visibility into intrusions, SimpliSafe’s SimpliCam offers video verification, which can yield a 350 percent faster police response time than home alarm systems that do not offer video verification.

House Fires: Common house fires, which can take less than five minutes to engulf most homes, account for nearly 5 percent of Hippo Insurance’s claims. SimpliSafe’s photoelectric sensing technology can detect a fire before it breaks into flames, and with professional monitoring, not only are homeowners alerted quickly, but so too are their local fire departments in the event of an incident.

“We are excited to partner with Hippo and give their customers not only a better home insurance offering, but also enhanced peace of mind by providing them access to professional monitoring that allows for early detection – and in some cases, prevention – of issues before they cause significant damage and become major insurance claims,” said Matt Wolf, Director of Partnerships at SimpliSafe. “This partnership is yet another way that we’re delivering on our mission to make every home secure.”

About Hippo

Hippo Insurance is on a mission to transform home insurance for the modern household. The insurance agency brings homeowners closer to a modern home insurance experience with an efficient online purchase experience using trusted data sources, a smart home device kit included with every policy and even more coverage for possessions like appliances, electronics and home offices. Hippo Insurance is part of Hippo’s family of companies that brings together home wellness and home insurance for today’s homeowners. Headquartered in Palo Alto, California, the company’s policies are available to over 65 percent of homeowners in the U.S.. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various insurance companies. For more information, including licensing information, visit http://www.hippo.com.

About SimpliSafe

SimpliSafe fundamentally changed the alarm industry, pioneering a new way to make home the safest place on earth for everyone. Founded in 2006, SimpliSafe now protects millions of people and is committed to its founding goal: to make every home secure. SimpliSafe has been coined the number one home security pick by a number of highly-esteemed publications, and was recently named “Best Home Security System of 2020” by U.S. News & World Report.

SimpliCam, SimpliSafe and the SimpliSafe logo are the registered trademarks of SimpliSafe, Inc. in the US and other countries.


Contacts

Hippo Insurance
Andrea Collins
acollins@myhippo.com

SimpliSafe
Amy Nagy
amy.nagy@simplisafe.com