Hugo Insurance is a relatively new player in the insurtech industry. The company promises to make insurance easy, transparent, and affordable. But, is Hugo Insurance legit, and can you trust it to protect your assets? In this blog article, we will look more closely at Hugo Insurance to help you make a disclosed judgment.
What is Hugo Insurance?
As we know, Hugo Insurance is an insurtech company that offers home, renters, and condo insurance policies. The company claims to simplify insurance by providing a hassle-free experience with no hidden fees or complex terminology. Hugo Insurance partners with leading insurance carriers to offer affordable and complete coverage to its buyers.
The company was founded in 2019 by David White, a former director of MetLife. Hugo Insurance is an online-only company, which means all transactions and interactions are done through their website or mobile app.
Is Hugo Insurance Legit?
Yes, Hugo Insurance is a legitimate insurance company. The company have licensed and regulated by the California Department of Insurance and operates in all 50 states. Additionally, Hugo Insurance is backed by some of the largest insurance companies in the world, for Eg., Munich Re, Sequoia Capital, Thrive Capital, & Liberty Mutual. Hugo Insurance is also accredited by the Better Business Bureau and has an A+ rating.
How Does Hugo Insurance Work?
Hugo Insurance works entirely online, allowing customers to purchase insurance coverage from the convenience of their homes. The method of getting insurance coverage from Hugo Insurance is short & may complete in four very simple steps below:
- Get a Quote: Visit the Hugo Insurance official website & fill out a form to get a quote for the type of insurance coverage you need.
- Customize your insurance coverage: Once whenever you have obtained a quote, you can customize your insurance coverage based on your requirements and budget.
- Purchase your policy: After customizing your coverage, you can purchase your policy online.
- Manage your policy: You can manage your policy and make changes to your coverage using via the Hugo Insurance Hugo official website or mobile app.
Types of Insurance Offered by Hugo Insurance
Hugo Insurance offers various types of insurance coverage, including:
Auto Insurance
Hugo Insurance’s auto insurance coverage includes liability coverage, crash coverage, and complete coverage. The company also offers optional add-ons, such as rental car coverage and roadside assistance.
Homeowners Insurance
Hugo Insurance’s homeowner’s insurance coverage includes dwelling coverage, personal property coverage, liability coverage, and additional residence expenses coverage.
Renters Insurance
Hugo Insurance’s renter’s insurance coverage includes personal property coverage, liability coverage, and additional residence expenses coverage.
Pet Insurance
Hugo Insurance’s pet insurance coverage includes accident-only coverage and accident and illness coverage for cats and dogs.
Pros and Cons of Hugo Insurance
Pros:
- Affordable coverage: Hugo Insurance partners with leading insurance carriers to offer affordable coverage options.
- Hassle-free experience: The company’s online platform makes it easy to get a quote, buy a policy, and manage your coverage.
- No hidden fees Charges: Hugo Insurance is transparent about its pricing, and there are no hidden fees or complicated jargon.
- Digital platform: The entire insurance process with Hugo Insurance may be done online, making it convenient for customers.
Cons:
- Limited coverage options: Hugo Insurance only offers home, renters, and condo insurance policies.
- No local agents: If you prefer to work with a local agent, Hugo Insurance may not be the best fit for you.
- Limited availability: Hugo Insurance is currently only available in a few states.
- Limited discounts: Compared to other insurance companies, Hugo Insurance offers limited discounts, which may not be attractive to customers who are looking for ways to save on premiums.
How to Get a Quote from Hugo Insurance
Getting a quote from Hugo Insurance is quick and easy. Here is how to do it step by step:
- Go to the Hugo Insurance official website and select the type of policy you need (home, renters, or condo, etc.)
- Enter your ZIP code to see if Hugo Insurance is available in your area.
- Reply with a few questions about the property you want to insure.
- Customize your coverage options and select your deductible.
- Eventually, review your quote and make purchasing your policy online.
Hugo Insurance Reviews
Hugo Insurance has received mixed reviews from buyers. Here are some of the pros and cons mentioned in customer reviews:
Pros: of Hugo Insurance Reviews
- Reasonable rates
- Easy-to-use platform
- Helpful buyer service
Cons: of Hugo Insurance Reviews
- Slow claims processing
- Limited coverage options
- Some buyers shared billing issues
Hugo Insurance Customer Service
Hugo Insurance Customers can contact through its official website and smartphone app. The business is also reachable by phone or email contacting. Customers have had conflicting opinions of the company’s customer service, with some praising the helpfulness of the representatives and others criticizing the lengthy wait times and trouble getting through to a representative.
Hugo Insurance Discounts
Hugo Insurance offers a few discounts to help you save money on your insurance policy. Here are some of the discounts available:
- Bundling discount: If you purchase multiple policies from Hugo Insurance (such as home and auto insurance), you can receive a discount on your premiums.
- Safety features discount: You might be allowed to a discount if your house or rental property has certain safety features (For Eg. smoke alarms, fire extinguishers, and deadbolt locks).
- Claims-free discount: You might be qualified for a deduction on your premiums if you have not submitted a claim in a specific amt of time.
Hugo Insurance Claims Process
If you want to file a claim with Hugo Insurance, you can do so through the company’s official website or smart mobile app. So, here is how the claims process works:
- Report the claim: At first, report the claim online or through the mobile app, or by calling the claims customer care hotlines.
- Submit required documentation: Submit all needed documentation of the damage, such as photographs or receipts, etc.
- Get an estimate: An insurance adjuster will deliver an estimation of the damage & the cost of repairs.
- Receive payment: Eventually, If your claim is approved, you will obtain compensation for the damages, minus your deductible.
Best Hugo Insurance Alternatives
If you are considering Hugo Insurance but want to explore other options, here are some alternatives to consider:
- State Farm: State Farm is a traditional insurance company that offers a wide range of insurance products, like, home & renters insurance. The company has a large network of local agents and a strong financial rating.
- Allstate: Allstate Insurance is another traditional insurance company that offers Home and Renters Insurance. The company has a very good financial rating & offers a variety of discounts to help you save on your premiums.
- Lemonade: Lemonade is another insurtech company that offers home, renters, and condo insurance policies. The company is known for its transparent pricing and fast claims processing.
See Also: Loan Advance Insurance CPI: Understanding A to Z
Conclusion– Is Hugo Insurance Legit
In conclusion, Hugo Insurance is a legitimate insurance company that offers affordable and complete coverage options. The company’s online platform makes it very easy to get a quote, buy a policy, and manage your Hugo coverage. However, the company has some limitations, including a limited selection of coverage options & availability in only a few states. If you are thinking of Hugo Insurance, it is essential to read buyer reviews and compare the company’s offerings to other insurance options to make an advised conclusion.
FAQs: Is Hugo Insurance Legit
Q1. Can I customize my coverage with Hugo Insurance?
Yes, you can customize your coverage options, including your deductible and coverage limits.
Q2. What types of properties does Hugo Insurance cover?
Hugo Insurance offers coverage for homes, condos, and rental properties.
Q3. Is Hugo Insurance available in my state?
Hugo Insurance is now only serving in Arizona, California, Illinois, Indiana, Michigan, Ohio, Pennsylvania, and Texas. The company plans to grow to other states in the coming future.
Q4. What types of insurance does Hugo Insurance offer?
Hugo Insurance offers home, renters, and condo insurance policies. The company does not currently offer auto, life, or health insurance.
Q5. How do I get a quote from Hugo Insurance?
You can get a quote from Hugo Insurance by visiting the company’s website or mobile app and entering some basic information about your property and coverage needs.
Q6. What is the cancellation policy for Hugo Insurance?
If you need to cancel your policy with Hugo Insurance, you can do so at any time. The company will provide you with a prorated refund for any unused coverage.
Q7. Does Hugo Insurance offer discounts?
Yes, Hugo Insurance offers a few discounts to help you save money on your premiums. These include a bundling discount, safety features discount, and claims-free discount.
Q8. How does Hugo Insurance compare to other insurance companies?
Hugo Insurance stands out as a reliable and affordable option due to its all-digital platform, customizable coverage options, and backing by reputable insurance companies.
Q9. Can I manage my policy online with Hugo Insurance?
Yes, all policy management and changes can be done through the Hugo Insurance website or mobile app.