Missouri was the site of more than 1,000 Civil War battles. It also served as the eastern base for the iconic (yet surprisingly short-lived) Pony Express mail service. Mark Twain, Maya Angelou and Harry S. Truman all started out in the “Show Me State.” That rich history, combined with stunning natural beauty, legendary barbecue and an affordable cost of living attract more residents to Missouri every year. Unfortunately, erratic weather and soaring home values aren’t as welcoming.
There have been more than 35 declared disasters in the state of Missouri since May 1990. Ice storms, tornadoes and flooding are all common occurrences. Thanks to global warming and changing weather patterns, severe storms are getting worse. U.S. Geological Survey researchers also list Missouri as one of the states most at risk for sinkholes, and seismologists warn that a major earthquake could be on the horizon. According to the Insurance Research Council, average claim severity in Missouri has risen far more rapidly than the national average. In 2016, there was more than $6.6 million in covered property and casualty losses throughout the state.Meanwhile, Missourians are building bigger homes, which are more expensive to repair than the small farmhouses that once dotted the landscape. Zillow tracked a 7.5% growth in median home values over the past year and predicts they… Click To Tweet
Meanwhile, Missourians are building bigger homes, which are more expensive to repair than the small farmhouses that once dotted the landscape. Zillow tracked a 7.5% growth in median home values over the past year and predicts they will rise another 5.3% within the next year. Bigger, more expensive homes, a rise in insurance claims and unpredictable weather add up to costly homeowners premiums. That’s why the Hippo team has crossed the Gateway Arch to help.
By eliminating outdated coverage for things like pewter, paper stock certificates and furs and finding efficiencies using technology, we can offer the same — or better — coverage at a lower cost. Homeowners that switch to Hippo save an average of 25% on their premiums. With average insurance premiums of $1,253 (which is $80 higher than the national average), Missouri homeowners need all the help they can get. Just think of all the Royals or Cardinals games you could go to with that extra $313 in your pocket.
And don’t worry: the lower cost doesn’t translate to less coverage. In fact, we’ve added 10 essential features not included in other standard policies. Think appliance and major systems coverage, water backup and service line coverage, and up to four times more coverage for home office and computer equipment. Plus, all Hippo policyholders can rest assured that coverage is based on the replacement cost of their home rather than their property’s market value.
Hippo doesn’t just cover problems when they occur, though. We do what we can to prevent problems from happening in your home in the first place. Every new Hippo policyholder receives a complimentary smart home starter kit, with multipurpose sensors to detect water leaks, fire alarms, break-ins and extreme temperatures. In our efforts to become a proactive partner in your safety, we also use public data to identify and warn you about potential problems. For instance, if we that there was a discoloration on your roof that indicated damage during one of our partner’s aerial imagery reviews, we’ll reach out to let you know you may need to have it fixed before it becomes a major repair. We’d also provide some helpful tips about how you can prepare.
Modern coverage and preventative measures aren’t even our best qualities. What I’m most proud of is our customer service. While other insurtech companies use AI to cut corners, we have found a way to marry technology with human empathy and compassion. When you file a claim, that concierge representative remains your point of contact throughout the entire process. If you need a hotel because your home becomes unlivable, they’ll help you book it. Not sure what to tell your contractors? Just ask us. We deal with this stuff all the time.
So, if you’re ready to save on your annual premiums, or just want to learn more about homeowners insurance, give us a call. Our customer relations team can answer any questions you have and provide a quote for coverage that fits your needs.