What:
Hippo, a home insurance company, announced the launch of Inspection Protection that provides coverage for repairs to qualifying structural systems for issues missed by an inspector during a home inspection.
Why:
Inspection Protection saves home buyers and sellers time, stress, and potentially major financial burdens during a new owner’s first year in the property. It gives confidence and protection to homebuyers and can accelerate the selling process by up to three weeks.
How:
Inspection Protection protects homebuyers but can be purchased by anyone in the transaction process, including the seller, real estate agents, or buyer, to make it a seamless transaction. Here’s how it works:
- A home inspection is ordered through one of Hippo’s approved partners, and a personalized inspection report, summary, and set of recommendations are delivered to the buyer.
- The product protects certain structural systems in the home from damage missed during the home inspection for up to $100,000 for a cost of $350 for most homes.
- Inspection Protection covers listed structural systems, including roofs, walls, fireplaces, and more, helping with some unanticipated repairs and bringing enhanced peace of mind to homeowners.