Hippo (HIPO) 10-Q 11 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 05, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-39711
Entity Registrant Name	HIPPO HOLDINGS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0662604
Entity Address, Address Line One	150 Forest Avenue
Entity Address, City or Town	Palo Alto
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94301
City Area Code	650
Local Phone Number	294-8463
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		572,365,169
Entity Central Index Key	0001828105
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	HIPO
Security Exchange Name	NYSE
Warrants to purchase common stock
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	HIPO.WS
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Investments:
Fixed maturities available-for-sale, at fair value (amortized cost: $107.3 million and $55.6 million, respectively)	$ 102.6	$ 54.9
Short-term investments	351.7	9.1
Total investments	454.3	64
Cash and cash equivalents	277.5	775.6
Restricted cash	47	43.1
Accounts receivable, net of allowance of $0.2 million and $0.4 million, respectively	66.6	56.5
Reinsurance recoverable on paid and unpaid losses and LAE	291.4	266.9
Prepaid reinsurance premiums	263.4	231.6
Ceding commissions receivable	50	41.6
Capitalized internal use software	34	25.9
Goodwill	53.5	53.5
Intangible assets	29.2	32.2
Other assets	62.5	51.8
Total assets	1,629.4	1,642.7
Liabilities:
Loss and loss adjustment expense reserve	268.8	260.8
Unearned premiums	282.9	253.1
Reinsurance premiums payable	192.4	159.4
Provision for commission	13.3	12.3
Accrued expenses and other liabilities	120.6	95.4
Total liabilities	878	781
Commitments and contingencies (Note 12)
Stockholders’ equity:
Common stock, $0.0001 par value per share; 2,000,000,000 and 2,000,000,000 shares authorized as of June 30, 2022 and December 31, 2021, respectively; 572,362,393 and 565,031,129 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	0	0
Additional paid-in capital	1,522.8	1,488.3
Accumulated other comprehensive loss	(4.9)	(0.7)
Accumulated deficit	(768.8)	(628)
Total Hippo stockholders’ equity	749.1	859.6
Noncontrolling interest	2.3	2.1
Total stockholders’ equity	751.4	861.7
Total liabilities and stockholders’ equity	$ 1,629.4	$ 1,642.7

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Fixed maturities, available-for-sale, amortized cost	$ 107.3	$ 55.6
Accounts receivable, allowance	$ 0.2	$ 0.4
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	572,362,393	565,031,129
Common stock, shares outstanding (in shares)	572,362,393	565,031,129

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue:
Net earned premium	$ 11.2	$ 10.2	$ 20.2	$ 19
Commission income, net	12.9	6.5	24.4	11.6
Service and fee income	3.5	4.1	7.1	7.1
Net investment income	1.1	0.1	1.5	0.2
Total revenue	28.7	20.9	53.2	37.9
Expenses:
Losses and loss adjustment expenses	29.2	21.4	51.7	38.7
Insurance related expenses	17.4	8.5	30.6	16
Technology and development	16.5	7.5	31.2	14.5
Sales and marketing	19.4	22.2	44.3	46.9
General and administrative	18.2	8.8	34.7	17.1
Interest and other (income) expense	(0.3)	36	(1.3)	183.1
Total expenses	100.4	104.4	191.2	316.3
Loss before income taxes	(71.7)	(83.5)	(138)	(278.4)
Income tax expense	0.3	0.2	0.5	0.3
Net loss	(72)	(83.7)	(138.5)	(278.7)
Net income attributable to noncontrolling interests, net of tax	1.5	0.8	2.6	1.1
Net loss attributable to Hippo	(73.5)	(84.5)	(141.1)	(279.8)
Other comprehensive income:
Change in net unrealized gain or loss on investments, net of tax	(1.6)	0.3	(4.2)	(0.3)
Comprehensive loss attributable to Hippo	(75.1)	(84.2)	(145.3)	(280.1)
Per share data:
Net loss attributable to Hippo - basic	(73.5)	(84.5)	(141.1)	(279.8)
Net loss attributable to Hippo - diluted	$ (73.5)	$ (84.5)	$ (141.1)	$ (279.8)
Weighted-average shares used in computing net loss per share attributable to Hippo - basic (in shares)	566,107,642	98,295,275	563,876,248	97,139,194
Weighted-average shares used in computing net loss per share attributable to Hippo - diluted (in shares)	566,107,642	98,295,275	563,876,248	97,139,194
Net loss per share attributable to Hippo - basic (in dollars per share)	$ (0.13)	$ (0.86)	$ (0.25)	$ (2.88)
Net loss per share attributable to Hippo - diluted (in dollars per share)	$ (0.13)	$ (0.86)	$ (0.25)	$ (2.88)

Consolidated Statements of Chan

Consolidated Statements of Changes in Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total Hippo Stockholders' Equity (Deficit )	Non controlling Interests
Beginning balance (in shares) at Dec. 31, 2020	305,887,443
Beginning balance at Dec. 31, 2020	$ 344.8
Ending balance (in shares) at Mar. 31, 2021	305,887,443
Ending balance at Mar. 31, 2021	$ 344.8
Beginning balance (in shares) at Dec. 31, 2020		92,547,014
Beginning balance at Dec. 31, 2020	(199.5)	$ 0	$ 56.9	$ 0.1	$ (256.6)	$ (199.6)	$ 0.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(194.9)				(195.2)	(195.2)	0.3
Other comprehensive income (loss)	(0.6)			(0.6)		(0.6)
Issuance of common stock from stock plans (in shares)		4,776,164
Issuance of common stock from stock plans	2.1		2.1			2.1
Repurchase of common stock (in shares)		(21,732)
Stock-based compensation expense	2.9		2.9			2.9
Other	0				(0.1)	(0.1)	0.1
Ending balance (in shares) at Mar. 31, 2021		97,301,446
Ending balance at Mar. 31, 2021	$ (390)	$ 0	61.9	(0.5)	(451.9)	(390.5)	0.5
Beginning balance (in shares) at Dec. 31, 2020	305,887,443
Beginning balance at Dec. 31, 2020	$ 344.8
Ending balance (in shares) at Jun. 30, 2021	305,887,443
Ending balance at Jun. 30, 2021	$ 344.8
Beginning balance (in shares) at Dec. 31, 2020		92,547,014
Beginning balance at Dec. 31, 2020	(199.5)	$ 0	56.9	0.1	(256.6)	(199.6)	0.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(278.7)
Ending balance (in shares) at Jun. 30, 2021		98,756,703
Ending balance at Jun. 30, 2021	$ (469.6)	$ 0	65.8	(0.3)	(536.4)	(470.9)	1.3
Beginning balance (in shares) at Mar. 31, 2021	305,887,443
Beginning balance at Mar. 31, 2021	$ 344.8
Ending balance (in shares) at Jun. 30, 2021	305,887,443
Ending balance at Jun. 30, 2021	$ 344.8
Beginning balance (in shares) at Mar. 31, 2021		97,301,446
Beginning balance at Mar. 31, 2021	(390)	$ 0	61.9	(0.5)	(451.9)	(390.5)	0.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(83.7)				(84.5)	(84.5)	0.8
Other comprehensive income (loss)	0.2			0.2		0.2
Issuance of common stock from stock plans (in shares)		1,455,257
Issuance of common stock from stock plans	0.8		0.8			0.8
Stock-based compensation expense	3.1		3.1			3.1
Ending balance (in shares) at Jun. 30, 2021		98,756,703
Ending balance at Jun. 30, 2021	$ (469.6)	$ 0	65.8	(0.3)	(536.4)	(470.9)	1.3
Beginning balance (in shares) at Dec. 31, 2021	0
Beginning balance at Dec. 31, 2021	$ 0
Ending balance (in shares) at Mar. 31, 2022	0
Ending balance at Mar. 31, 2022	$ 0
Beginning balance (in shares) at Dec. 31, 2021	565,031,129	565,031,129
Beginning balance at Dec. 31, 2021	$ 861.7	$ 0	1,488.3	(0.7)	(628)	859.6	2.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(66.5)				(67.6)	(67.6)	1.1
Other comprehensive income (loss)	(2.6)			(2.6)		(2.6)
Issuance of common stock from stock plans (in shares)		2,722,887
Issuance of common stock from stock plans	1.4		1.4			1.4
Shares withheld related to net share settlement	(1)		(1)			(1)
Stock-based compensation expense	15.7		15.7			15.7
Ending balance (in shares) at Mar. 31, 2022		567,754,016
Ending balance at Mar. 31, 2022	$ 808.7	$ 0	1,504.4	(3.3)	(695.6)	805.5	3.2
Beginning balance (in shares) at Dec. 31, 2021	0
Beginning balance at Dec. 31, 2021	$ 0
Ending balance (in shares) at Jun. 30, 2022	0
Ending balance at Jun. 30, 2022	$ 0
Beginning balance (in shares) at Dec. 31, 2021	565,031,129	565,031,129
Beginning balance at Dec. 31, 2021	$ 861.7	$ 0	1,488.3	(0.7)	(628)	859.6	2.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (138.5)
Issuance of common stock from stock plans (in shares)	2,754,832
Ending balance (in shares) at Jun. 30, 2022	572,362,393	572,362,393
Ending balance at Jun. 30, 2022	$ 751.4	$ 0	1,522.8	(4.9)	(768.8)	749.1	2.3
Beginning balance (in shares) at Mar. 31, 2022	0
Beginning balance at Mar. 31, 2022	$ 0
Ending balance (in shares) at Jun. 30, 2022	0
Ending balance at Jun. 30, 2022	$ 0
Beginning balance (in shares) at Mar. 31, 2022		567,754,016
Beginning balance at Mar. 31, 2022	808.7	$ 0	1,504.4	(3.3)	(695.6)	805.5	3.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(72)				(73.5)	(73.5)	1.5
Other comprehensive income (loss)	(1.6)			(1.6)		(1.6)
Issuance of common stock from stock plans (in shares)		4,698,351
Issuance of common stock from stock plans	2.3		2.3			2.3
Shares withheld related to net share settlement	(1.7)		(1.7)			(1.7)
Repurchase of common stock (in shares)		(89,974)
Stock-based compensation expense	17.8		17.8			17.8
Other	$ (2.1)				0.3	0.3	(2.4)
Ending balance (in shares) at Jun. 30, 2022	572,362,393	572,362,393
Ending balance at Jun. 30, 2022	$ 751.4	$ 0	$ 1,522.8	$ (4.9)	$ (768.8)	$ 749.1	$ 2.3

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (138.5)	$ (278.7)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	7.4	5
Stock–based compensation expense	29.3	5.3
Change in fair value of preferred stock warrant liabilities	0	114.6
Change in fair value of warrant liability	(2.6)	0
Change in fair value of contingent consideration liability	2.4	1.3
Change in fair value of derivative liability on notes	0	46.5
Amortization of debt discount	0	17.1
Non-cash service expense	0	7
Other non-cash items	0.2	5.4
Changes in assets and liabilities:
Accounts receivable, net	(10.1)	(17)
Reinsurance recoverable on paid and unpaid losses and LAE	(24.5)	(108.7)
Ceding commissions receivable	(8.4)	(12.9)
Prepaid reinsurance premiums	(31.8)	(65.9)
Other assets	9.1	(10.6)
Provision for commission	1	(15.2)
Accrued expenses and other liabilities	7.3	30.4
Loss and loss adjustment expense reserves	8	90.1
Unearned premiums	29.8	66.2
Reinsurance premiums payable	33	50.9
Net cash used in operating activities	(88.4)	(69.2)
Cash flows from investing activities:
Capitalized internal use software costs	(7.7)	(5.5)
Purchase of intangible assets	0	(3.3)
Purchases of property and equipment	(3)	0
Purchases of investments	(408)	(7.1)
Maturities of investments	13.3	2
Sales of investments	4.2	3.7
Other	(2)	0
Net cash used in investing activities	(403.2)	(10.2)
Cash flows from financing activities:
Taxes paid related to net share settlement of equity awards	(2.7)	0
Proceeds from issuances of common stock	3.3	2.6
Payments for reverse recapitalization and transaction costs	0	(4.1)
Other	(3.2)	(1.3)
Net cash used in financing activities	(2.6)	(2.8)
Net increase in cash, cash equivalents, and restricted cash	(494.2)	(82.2)
Cash, cash equivalents, and restricted cash at the beginning of the period	818.7	492.4
Cash, cash equivalents, and restricted cash at the end of the period	324.5	410.2
Supplemental disclosures of non-cash financing and investing activities:
Convertible promissory notes issued for services	0	7
Unpaid transaction costs	$ 0	$ 1.1

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	1. Description of Business and Summary of Significant Accounting Policies Description of Business Hippo Holdings Inc., referred to in these Notes to the Consolidated Financial Statements as “Hippo” or the “Company,” specializes in the underwriting, administration, and marketing of personal property and commercial insurance policies. The Company’s subsidiary, Hippo Analytics Inc., is a licensed insurance agency that provides various insurance services, including some or all of the following services for affiliated and non-affiliated insurance carriers: soliciting, marketing, servicing, underwriting, or providing claims processing services for a variety of commercial and personal insurance products. Hippo Analytics Inc. offers its insurance products through licensed insurance agents and direct-to-consumer channels. The Company’s insurance company subsidiaries, Spinnaker Insurance Company (“Spinnaker”), an Illinois domiciled insurance company, Spinnaker Specialty Insurance Company ("SSIC”), a Texas domiciled authorized surplus lines insurance company, and Mainsail Insurance Company (“MIC”), a Texas domiciled insurance company, underwrite personal and commercial insurance products on a direct basis through licensed insurance agents and surplus lines brokers. The Company has a wholly-owned Cayman domiciled captive insurance company, RH Solutions Insurance (Cayman) Ltd. (“RHS”), which assumes insurance risk of policies from affiliated and non-affiliated insurance carriers. Hippo was originally incorporated under the name Reinvent Technology Partners Z (“RTPZ”) as a Cayman Islands exempted company on October 2, 2020 for the purpose of effecting a merger, capital stock-exchange, asset acquisition, share purchase, reorganization, or similar business combination. On August 2, 2021, RTPZ domesticated as a Delaware corporation and changed its name to “Hippo Holdings Inc.” (the “Domestication”) and consummated the merger (the “First Merger”) of RTPZ Merger Sub Inc. (“Merger Sub”), a Delaware corporation and subsidiary of RTPZ, with and into Hippo Enterprises Inc., a Delaware corporation (“Old Hippo”), with Old Hippo surviving the Merger as a wholly owned subsidiary of the Company immediately following the First Merger, and Old Hippo (as the surviving corporation of the First Merger) was merged with and into the Company, with the Company surviving (the “Second Merger” and, together with the First Merger, the “Mergers” or the “Business Combination”). The Business Combination was completed pursuant to the terms of the Agreement and Plan of Merger, dated as of March 3, 2021, by and among RTPZ, Merger Sub and Old Hippo. Basis of Presentation and Consolidation The interim consolidated financial statements and accompanying notes of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and include the Company’s consolidated subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted accordingly. The interim financial information is unaudited, but reflects all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the information set forth herein. The interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Interim results are not necessarily indicative of the results for a full year. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include, but are not limited to, loss and loss adjustment expense (“LAE”) reserves, provision for commission slide and cancellations, reinsurance recoverable on paid and unpaid losses and LAE, the fair values of investments, fair value of common stock prior to the Business Combination, stock-based awards, acquired intangible assets and goodwill, deferred tax assets and uncertain tax positions, and revenue recognition. The Company evaluates these estimates on an ongoing basis. These estimates are informed by experience and other assumptions that the Company believes are reasonable under the circumstances. Actual results may differ significantly from these estimates. Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In February 2016, the FASB issued ASU 2016-02 In June 2016, the FASB issued ASU No. 2016-13, Financial instruments — Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), and subsequent related ASUs, which amends the guidance on the impairment of financial instruments by requiring measurement and recognition of expected credit losses for financial assets held. The Company early adopted Topic 326 effective January 1, 2022 using the modified retrospective approach which resulted in no cumulative-effect adjustment to retained earnings. The adoption of the accounting guidance did not have a material impact on the Company’s available-for-sale securities. In December 2020, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The Company adopted ASU 2019-12 as of January 1, 2022, under the private company transition guidance and the adoption of this standard did not have a material impact on the Company’s consolidated financial statements. Leases Leases arise from contractual obligations that convey the right to control the use of an identified property, plant or equipment for a stated time period in exchange for consideration. The Company determines if an arrangement is, or contains a lease at contract inception. Lease classification is determined at the lease commencement date, on which the leased assets are available for the Company’s use. The Company recognizes a ROU asset and a corresponding lease liability at commencement date for operating leases. ROU assets are presented under other assets, and lease liabilities are presented under accrued expenses and other liabilities in the consolidated balance sheets. The Company did not have any material finance leases in the periods presented. ROU assets represent the Company’s right to use an underlying asset during the lease term and lease liabilities represent the Company’s obligation to make payments during the lease term. ROU assets are recognized at the lease commencement date for the lease liability amount, adjusted for initial direct costs incurred and lease incentives received. Lease liabilities are recognized at commencement based on the present value of the future lease payments over the lease term. Lease terms may include options to extend or terminate the lease when the Company believes it is reasonably certain that the Company will exercise such options. Since the implicit discount rate for operating leases is not readily determinable, the Company uses an estimate of its incremental borrowing rate (“IBR”) on the lease commencement date in determining the present value of lease payments. IBR is determined based on information available at lease commencement including interest rates, credit ratings, credit spreads, and lease term. Operating lease expense is recognized on a straight-line basis over the lease term. The Company accounts for lease and non-lease components as a single lease component. Accordingly, the Company includes fixed non-lease components with lease payments for the purpose of calculating lease right-of-use assets and liabilities. Non-lease components that are not fixed are expensed as incurred as variable lease payments. The Company does not record leases on the balance sheet that have a term of 12 months or less at the lease commencement date.

Investments

Investments	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	2. Investments The amortized cost and fair value of fixed maturities securities and short-term investments are as follows (in millions): June 30, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Fixed maturities available-for-sale: U.S. government and agencies $ 21.2 $ — $ (0.4) $ 20.8 States and other territories 5.8 — (0.4) 5.4 Municipal securities 3.1 — — 3.1 Corporate securities 43.6 — (1.8) 41.8 Foreign securities 0.9 — — 0.9 Residential mortgage-backed securities 15.6 — (1.1) 14.5 Commercial mortgage-backed securities 6.5 — (0.6) 5.9 Asset backed securities 10.6 — (0.4) 10.2 Total fixed maturities available-for-sale 107.3 — (4.7) 102.6 Short-term investments: U.S. government and agencies 352.0 — (0.3) 351.7 Total $ 459.3 $ — $ (5.0) $ 454.3 December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Fixed maturities available-for-sale: U.S. government and agencies $ 9.3 $ — $ — $ 9.3 States and other territories 5.8 — (0.1) 5.7 Corporate securities 17.3 — (0.2) 17.1 Foreign securities 0.9 — — 0.9 Residential mortgage-backed securities 10.8 — (0.2) 10.6 Commercial mortgage-backed securities 4.8 — (0.1) 4.7 Asset backed securities 6.7 — (0.1) 6.6 Total fixed maturities available-for-sale $ 55.6 $ — $ (0.7) $ 54.9 Short-term investments: U.S. government and agencies 9.1 — — 9.1 Total $ 64.7 $ — $ (0.7) $ 64.0 The following tables present the gross unrealized losses and related fair values for the Company’s investments in available-for-sale debt securities, grouped by duration of time in a continuous unrealized loss position as of June 30, 2022, and December 31, 2021 (in millions): June 30, 2022 Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fixed maturities available-for-sale: U.S. government and agencies $ 19.1 $ (0.3) $ 1.8 $ (0.1) $ 20.9 $ (0.4) States and other territories 1.5 (0.1) 3.8 (0.3) 5.3 (0.4) Corporate securities 32.9 (1.1) 8.9 (0.7) 41.8 (1.8) Residential mortgage-backed securities 8.1 (0.3) 6.4 (0.8) 14.5 (1.1) Commercial mortgage-backed securities 2.3 (0.1) 3.7 (0.5) 6.0 (0.6) Asset backed securities 7.4 (0.2) 2.8 (0.2) 10.2 (0.4) Short-term investments: U.S. government and agencies 349.5 (0.3) — — 349.5 (0.3) Total $ 420.8 $ (2.4) $ 27.4 $ (2.6) $ 448.2 $ (5.0) December 31, 2021 Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses States and other territories 5.2 (0.1) — — 5.2 (0.1) Corporate securities 15.9 (0.2) — — 15.9 (0.2) Residential mortgage-backed securities 10.5 (0.2) — — 10.5 (0.2) Commercial mortgage-backed securities 4.7 (0.1) — — 4.7 (0.1) Asset backed securities 5.4 (0.1) — — 5.4 (0.1) Total $ 41.7 $ (0.7) $ — $ — $ 41.7 $ (0.7) allowance for credit losses was not necessary as it is more likely than not that the Company will not be required to sell the investments before the recovery of the amortized cost basis. The amortized cost and fair value of fixed maturities securities by contractual maturity are as follows (in millions): June 30, 2022 Amortized Cost Fair Value Due to mature: One year or less $ 9.7 $ 9.6 After one year through five years 61.7 59.6 After five years 3.2 2.8 Residential mortgage-backed securities 15.6 14.5 Commercial mortgage-backed securities 6.5 5.9 Asset backed securities 10.6 10.2 Total fixed maturities available-for-sale $ 107.3 $ 102.6 Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Net realized gains on fixed maturity securities were insignificant for the three and six months ended June 30, 2022 and 2021, respectively. The Company’s net investment income is comprised of the following (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Interest on cash and cash equivalents $ 0.2 $ — $ 0.2 $ — Fixed maturities income 0.2 0.1 0.5 0.2 Short-term investment income 0.7 — 0.9 — Total gross investment income 1.1 0.1 1.6 0.2 Investment expenses — — (0.1) — Net investment income $ 1.1 $ 0.1 $ 1.5 $ 0.2 Pursuant to certain regulatory requirements, the Company is required to hold assets on deposit with various state insurance departments for the benefit of policyholders. These special deposits are included in cash and cash equivalents, fixed maturities, or available-for-sale on the consolidated balance sheets. The carrying value of securities on deposit with state regulatory authorities total $11.4 million and $8.4 million as of June 30, 2022 and December 31, 2021, respectively.

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash	6 Months Ended
	Jun. 30, 2022
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents, and Restricted Cash	3. Cash, Cash Equivalents, and Restricted Cash The following table sets forth the cash, cash equivalents, and restricted cash (in millions): June 30, December 31, Cash and cash equivalents: Cash $ 194.6 $ 219.2 Money market funds 76.7 556.4 Treasury bills 6.2 — Total cash and cash equivalents 277.5 775.6 Restricted cash: Fiduciary assets 28.7 25.0 Letters of credit and cash on deposit 18.3 18.1 Total restricted cash 47.0 43.1 Total cash, cash equivalents, and restricted cash $ 324.5 $ 818.7

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	4. Fair Value Measurement The following table summarizes the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in millions): June 30, 2022 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents: Money market funds $ 76.7 $ — $ — $ 76.7 Treasury bills 6.2 — — 6.2 Total cash equivalents 82.9 — — 82.9 Fixed maturities available-for-sale: U.S. government and agencies 20.8 — — 20.8 States and other territories — 5.4 — 5.4 Municipal securities — 3.1 — 3.1 Corporate securities — 41.8 — 41.8 Foreign securities — 0.9 — 0.9 Residential mortgage-backed securities — 14.5 — 14.5 Commercial mortgage-backed securities — 5.9 — 5.9 Asset backed securities — 10.2 — 10.2 Total fixed maturities available-for-sale 20.8 81.8 — 102.6 Short term investments U.S. government and agencies 351.7 — — 351.7 Total financial assets $ 455.4 $ 81.8 $ — $ 537.2 Financial liabilities: Contingent consideration liability $ — $ — $ 12.4 $ 12.4 Public warrants 0.9 — — 0.9 Private placement warrants — 0.8 — 0.8 Total financial liabilities $ 0.9 $ 0.8 $ 12.4 $ 14.1 December 31, 2021 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents: Money market funds $ 556.4 $ — $ — $ 556.4 Total cash equivalents 556.4 — — 556.4 Fixed maturities available-for-sale: U.S. government and agencies 9.3 — — 9.3 States and other territories — 5.7 — 5.7 Corporate securities — 17.1 — 17.1 Foreign securities — 0.9 — 0.9 Residential mortgage-backed securities — 10.6 — 10.6 Commercial mortgage-backed securities — 4.7 — 4.7 Asset backed securities — 6.6 — 6.6 Total fixed maturities available-for-sale 9.3 45.6 — 54.9 Short term investments U.S. government and agencies — 9.1 — 9.1 Total financial assets $ 565.7 $ 54.7 $ — $ 620.4 Financial liabilities: Contingent consideration liability $ — $ — $ 11.6 $ 11.6 Public warrants 2.2 — — 2.2 Private placement warrants — 2.1 — 2.1 Total financial liabilities $ 2.2 $ 2.1 $ 11.6 $ 15.9 The Company’s policy is to recognize transfers into and transfers out of fair value hierarchy levels at the end of each reporting period. There were no transfers between levels in the fair value hierarchy during the six months ended June 30, 2022. Contingent Consideration The contingent consideration, relating to the Company’s 2019 acquisition of North American Advantage Insurance Services, LLC, is re-valued to fair value at the end of each reporting period using the present value of future payments based on an estimate of revenue and customer renewals. North American Advantage Insurance Services, LLC’s ultimate parent company was Lennar Corporation, a related party of the Company. There is no limit to the maximum potential contingent consideration as the consideration is based on acquired customer retention. The table below presents the changes in the contingent consideration liability valued using Level 3 inputs (in millions): 2022 2021 Balance as of January 1, $ 11.6 $ 12.0 Payments of contingent consideration (1.6) (1.7) Changes in fair value 2.4 1.3 Balance as of June 30, $ 12.4 $ 11.6 Preferred Stock Warrant Liabilities The preferred stock warrants were issued through the issuance of Series A-2 and Series C-1 Preferred Stock in March 2017 and October 2018, respectively. The warrants were vested immediately. Prior to the Business Combination on August 2, 2021, the holders exercised their warrants for 2.5 million shares of Old Hippo preferred stock in exchange for 17.3 million shares of the Company’s common stock. The warrants were classified as a liability as the underlying redeemable convertible preferred stock was not considered redeemable and would have required us to transfer assets upon exercise. The warrants were recorded at fair value upon issuance and are subject to remeasurement of fair value using the Black-Scholes-Merton option-pricing model at each balance sheet date. The table below presents changes in the preferred stock warrant liability valued using Level 3 inputs (in millions): 2021 Balance as of January 1, $ 22.9 Changes in fair value 114.6 Balance as of June 30, $ 137.5 The following assumptions were used in determining fair value of the convertible preferred stock warrant liabilities: June 30, 2021 Fair value of Series A-2 Preferred Stock $ 66.64 Fair value of Series C-1 Preferred Stock $ 66.74 Exercise price A-2 Preferred Stock $ 1.57 Exercise price C-1 Preferred Stock $ 11.74 Expected term (in years) 1.3-5.7 Expected volatility 26.6%-29.1% Risk-free interest rate 0.1%-1.1% Expected dividend yield — % Derivative liability on notes The embedded derivative liabilities on the previously issued and outstanding convertible promissory notes were re-valued to the then current fair value at the end the reporting period using the income-based approach with or without a 10% discount. The expected time to conversion used in the mark to market valuation was 0.1-2.9 years. The table below presents the changes in derivative liability on convertible promissory notes valued using Level 3 inputs (in millions): 2021 Balance as of January 1, $ 113.3 Initial measurement of new derivative 2.8 Changes in fair value 46.5 Balance as of June 30, $ 162.6

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets June 30, 2022 December 31, 2021 Weighted- Average Useful Life Remaining (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount (in millions) (in millions) Agency and carrier relationships 6.4 $ 13.5 $ (2.5) $ 11.0 $ 13.5 $ (1.7) $ 11.8 State licenses and domain name Indefinite 10.5 — 10.5 10.5 — 10.5 Customer relationships 2.8 13.7 (7.3) 6.4 13.7 (6.0) 7.7 Developed technology — — — — 3.6 (2.7) 0.9 VOBA — — — — 0.1 (0.1) — Other 6.4 1.7 (0.4) 1.3 2.0 (0.7) 1.3 Total intangible assets, net $ 39.4 $ (10.2) $ 29.2 $ 43.4 $ (11.2) $ 32.2 Amortization expense related to intangible assets for the three months ended June 30, 2022 and 2021 was $1.1 million and $1.3 million, respectively, and for six months ended June 30, 2022 and 2021 was $3.0 million and $2.7 million, respectively. The amortization expense is included in technology and development expenses for developed technology, sales and marketing expenses for customer relationships, agency relationships, carrier relationships, and other.

Capitalized Internal Use Softwa

Capitalized Internal Use Software	6 Months Ended
	Jun. 30, 2022
Research and Development [Abstract]
Capitalized Internal Use Software	6. Capitalized Internal Use Software June 30, December 31, (in millions) Capitalized internal use software $ 46.5 $ 34.5 Less: accumulated amortization (12.5) (8.6) Total capitalized internal use software $ 34.0 $ 25.9 Amortization expense related to capitalized internal use software for the three months ended June 30, 2022 and 2021 was $2.1 million and $1.1 million, respectively, and for the six months ended June 30, 2022 and 2021 was $3.9 million and $2.1 million, respectively.

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	7. Other Assets June 30, December 31, (in millions) Prepaid expenses $ 19.4 $ 21.2 Claims receivable 13.0 24.4 Lease right-of-use assets 20.8 — Property and equipment 4.0 1.1 Other 5.3 5.1 Total other assets $ 62.5 $ 51.8

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	8. Accrued Expenses and Other Liabilities June 30, December 31, (in millions) Claim payments outstanding $ 27.9 $ 23.2 Lease liability 21.7 — Advances from customers 14.0 8.7 Deferred revenue 10.4 11.2 Employee related accruals 6.6 8.5 Premium refund liability 7.5 4.8 Fiduciary liability 3.9 3.7 Contingent consideration liability 12.4 11.6 Other 16.2 23.7 Total accrued expenses and other liabilities $ 120.6 $ 95.4

Loss and Loss Adjustment Expens

Loss and Loss Adjustment Expense Reserves	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Loss and Loss Adjustment Expense Reserves	9. Loss and Loss Adjustment Expense Reserves The reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses, net of reinsurance is summarized as follows for the six months ended June 30, (in millions): 2022 2021 Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of beginning of the period $ 260.8 $ 105.1 Reinsurance recoverables on unpaid losses and LAE (217.0) (92.1) Reserve for losses and LAE, net of reinsurance recoverables as of beginning of the period 43.8 13.0 Add: Incurred losses and LAE, net of reinsurance, related to: Current year 57.7 39.0 Prior years (6.0) (0.3) Total incurred 51.7 38.7 Deduct: Loss and LAE payments, net of reinsurance, related to: Current year 28.2 19.5 Prior year 12.8 5.1 Total paid 41.0 24.6 Reserve for losses and LAE, net of reinsurance recoverables at end of period 54.5 27.1 Add: Reinsurance recoverables on unpaid losses and LAE at end of period 214.3 168.1 Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of end of the period $ 268.8 $ 195.2 Loss development occurs when actual losses incurred vary from the Company’s previously developed estimates, which are established through the Company’s loss and LAE reserve estimate processes. Net incurred losses and LAE experienced favorable development of $6.0 million and $0.3 million for the six months ended June 30, 2022 and 2021, respectively. The prior period development of $6.0 million was driven primarily by favorable net loss development relating to the 2021 accident year, resulting in a net release of $3.5 million from attritional reserves and $2.5 million from catastrophe reserves. These changes are generally a result of ongoing analysis of claims emergence patterns and loss trends.

Reinsurance

Reinsurance	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Reinsurance	10. Reinsurance The Company purchases reinsurance to help manage exposure to property and casualty insurance risks, including attritional and catastrophic losses. The Company’s insurance company subsidiaries have entered into proportional and non-proportional reinsurance treaties, under which a significant portion of the liabilities have been ceded to third party reinsurers. The Company also assumes risk from non-affiliated insurance carriers. Proportional Reinsurance Treaties — Hippo For the Company’s primary homeowners reinsurance treaties commencing in 2021 and 2022, the Company secured quota share reinsurance from a diverse panel of third-party reinsurers. Two of the reinsurers, representing approximately one-third of the programs, provided three-year agreements which incepted in 2021. All reinsurers are either rated “A-” Excellent or better by AM Best, or are collateralized. The Company retains approximately 10% of the premium through its insurance company subsidiaries. Additionally, the reinsurance contracts continue to be subject to variable commission adjustments and loss participation features, including loss ratio caps and loss corridors, which may increase the amount of risk retained by the Company in excess of the Company’s pro-rata participation. Such provisions are recognized in the period based on the experience to date under the agreements. Non-Proportional Reinsurance — Hippo The Company further reduces its risk retention through the purchase of non-proportional reinsurance, primarily excess of loss catastrophe coverage (“XOL”). Through the Company’s insurance company subsidiaries, the Company is exposed to the risk of natural catastrophe events that could occur on the risks arising from policies underwritten by the Company. Other Reinsurance Other Spinnaker reinsurance treaties are a mix of proportional and XOL in which approximately 75% to 100% of the risk is ceded. The reinsurance contracts continue to be subject to variable commission adjustments and loss participation features, including loss caps, and may increase the amount of risk retained by the Company in excess of the Company’s proportional participation. Such provisions are recognized in the period based on the experience to date under the agreement. The Company also purchases a corporate catastrophe XOL program, which provides protection to the Company from catastrophes that could impact a large number of insurance policies underwritten by the Company or other managing general agents (“MGAs”). The XOL program provides protection so that the probability of losses from a single occurrence exceeding the protection purchased is no more than 0.4%, or equivalent to a 1 in 250 year return period. This reinsurance protects the Company from all but the most severe catastrophic events. With all reinsurance programs, the Company’s wholly owned insurance carriers are not relieved of their primary obligations to policyholders in the event of a default or the insolvency of its reinsurers. As a result, a credit exposure exists to the extent that any reinsurer fails to meet its obligations assumed in the reinsurance agreements. To mitigate this exposure to reinsurance insolvencies, the Company evaluates the financial condition of its reinsurers and, in certain circumstances, holds substantial collateral (in the form of funds withheld, qualified trusts, and letters of credit) as security under the reinsurance agreements. No allowance has been recorded in the three and six months ended June 30, 2022 and 2021 for amounts anticipated to be uncollectible or for the anticipated failure of a reinsurer to meet its obligations under the contracts. The following tables reflect amounts affecting the consolidated statements of operations and comprehensive loss for ceded reinsurance as of and for the three and six months ended June 30, 2022, and 2021 (in millions). For the Three Months Ended June 30, 2022 2021 Written premiums Earned premiums Loss and LAE incurred Written premiums Earned premiums Loss and LAE incurred Direct $ 161.7 $ 128.8 $ 99.0 $ 129.3 $ 83.9 $ 135.7 Assumed 0.1 — 2.0 (0.7) 3.2 4.8 Gross 161.8 128.8 101.0 128.6 87.1 140.5 Ceded (147.2) (117.6) (71.8) (116.4) (76.9) (119.1) Net $ 14.6 $ 11.2 $ 29.2 $ 12.2 $ 10.2 $ 21.4 For the Six Months Ended June 30, 2022 2021 Written premiums Earned premiums Loss and LAE incurred Written premiums Earned premiums Loss and LAE incurred Direct $ 278.8 $ 248.8 $ 189.9 $ 224.3 $ 154.9 $ 276.1 Assumed 0.1 0.1 2.3 3.4 6.6 10.1 Gross 278.9 248.9 192.2 227.7 161.5 286.2 Ceded (263.6) (228.7) (140.5) (208.4) (142.5) (247.5) Net $ 15.3 $ 20.2 $ 51.7 $ 19.3 $ 19.0 $ 38.7 As of June 30, 2022 and December 31, 2021, a provision for sliding scale commissions of $10.4 million and $8.6 million, respectively, is included in provision for commission on the consolidated balance sheets. As of June 30, 2022 and December 31, 2021, a receivable for sliding scale commissions of $1.6 million and $2.7 million, respectively, is included in ceding commissions receivable on the consolidated balance sheets. As of June 30, 2022 and December 31, 2021, a provision for loss participation features of $29.4 million and $8.3 million, respectively, was recorded as a contra-asset in reinsurance recoverable on the consolidated balance sheets.

Geographical Breakdown of Gross

Geographical Breakdown of Gross Written Premium	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Geographical Breakdown of Gross Written Premium	11. Geographical Breakdown of Gross Written Premium Gross written premium by state is as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Amount % of GWP Amount % of GWP Amount % of GWP Amount % of GWP State Texas $ 43.1 26.6 % $ 39.9 31.0 % $ 77.0 27.6 % $ 72.9 32.0 % California 31.2 19.3 % 22.8 17.7 % 53.3 19.1 % 41.6 18.3 % Florida 15.9 9.8 % 8.6 6.7 % 22.7 8.1 % 14.4 6.3 % Georgia 7.5 4.6 % 5.6 4.4 % 13.6 4.9 % 9.8 4.3 % Illinois 5.9 3.6 % 4.5 3.5 % 9.4 3.4 % 7.6 3.3 % Colorado 4.0 2.5 % 3.1 2.4 % 7.2 2.6 % 5.7 2.5 % Missouri 3.6 2.2 % 3.5 2.7 % 6.6 2.4 % 5.9 2.6 % Arizona 3.3 2.1 % 2.9 2.3 % 6.4 2.3 % 5.3 2.3 % Ohio 3.8 2.4 % 2.8 2.2 % 6.4 2.3 % 4.8 2.1 % New Jersey 1.9 1.2 % 2.3 1.8 % 4.5 1.6 % 4.5 2.0 % Other 41.6 25.7 % 32.6 25.3 % 71.8 25.7 % 55.2 24.3 % Total $ 161.8 100 % $ 128.6 100 % $ 278.9 100 % $ 227.7 100 %

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Legal Proceedings From time to time, the Company may become involved in litigation or other legal proceedings. The Company is routinely named in litigation involving claims from policyholders. Legal proceedings relating to claims are reserved in the normal course of business. The Company does not believe it is a party to any pending litigation or other legal proceedings that is likely to have a material adverse effect on our business, financial condition or results of operations. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors. On November 19, 2021, Hippo and Assaf Wand were named in a civil action in San Francisco Superior Court brought by Eyal Navon. Mr. Navon brings six causes of action against Mr. Wand for breach of fiduciary duty, breach of contract, promissory estoppel, fraud, negligent misrepresentation, and constructive fraud surrounding a loan and call option entered into between Innovius Capital Canopus I, L.P. (“Innovius”) and Mr. Navon, as well as alleged promises made by Mr. Wand to Mr. Navon while Mr. Navon was an employee of Hippo. Mr. Navon brings two causes of action against Hippo – he repeats the fraud claim that is alleged against Mr. Wand, and also alleges a claim for declaratory judgment, requesting that the Court declare that Mr. Navon properly revoked the call option he entered into with Innovius. On January 20, 2022, Hippo filed a demurrer, moving to dismiss the claims alleged in the complaint against Hippo. The Court sustained Hippo’s demurrer, dismissing all claims against Hippo without prejudice. On May 2, 2022, Mr. Navon amended his complaint, naming Hippo in his breach of contract, promissory estoppel, negligent misrepresentation, and constructive fraud causes of action (in addition to re-pleading the declaratory relief and fraud causes of action). On June 1, 2022, Hippo filed a second demurrer in response to the claims pled in the amended complaint, which the Court overruled on July 22, 2022. Mr. Wand has yet to be properly served in the matter. The lawsuit is in the early stages and, at this time, the Company is unable to predict the outcome and cannot estimate the likelihood or magnitude of the Company’s possible or potential loss contingency.

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	13. Leases The Company leases office space under non-cancelable operating leases with various expiration dates through 2027, some of which include options to extend the leases for up to 5 years. The Company does not assume renewals in the determination of the lease term unless the renewals are deemed to be reasonably certain. For the three and six months ended June 30, 2022, the Company recognized operating lease expenses of $1.2 million and $2.2 million respectively in the consolidated statement of operations. Under ASC 840, the operating lease expense during the three and six months ended June 30, 2021 was $0.7 million and $1.5 million respectively. The weighted average remaining lease term and the weighted average discount rate for operating leases as of June 30, 2022 were as follows: Weighted average remaining lease term 4.21 Weighted average discount rate 4.04% Maturities of operating lease liabilities by fiscal year as of June 30, 2022 are as follows (in millions): Operating Leases 2022 (Remainder) $ 2.5 2023 5.6 2024 5.6 2025 5.0 2026 3.7 Thereafter 0.9 Total undiscounted lease payments 23.3 Less: Imputed interest (1.6) Present value of lease payments $ 21.7 As of June 30, 2022, the Company has additional operating leases for office space that have not yet commenced with total future lease obligations of $12.3 million. These operating leases are expected to commence during 2022. The following table presents supplemental cash flow information about the Company’s operating leases (in millions): Six Months Ended June 30, 2022 Cash paid for operating lease liabilities $ (2.0) Right-of-use assets obtained in exchange for new operating liabilities $ 6.0

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders’ Equity	14. Stockholders’ Equity Common Stock On August 2, 2021, the Company’s common stock and warrants began trading on the New York Stock Exchange (“NYSE”) under the ticker symbols “HIPO” and “HIPO.WS,” respectively. Pursuant to Certificate of Incorporation, the Company is authorized to issue 2 billion shares of common stock, with a par value of $0.0001 per share. Each share of common stock is entitled to one vote. The holders of the common stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors. No dividends have been declared or paid since inception. Stock-Based Compensation Plans 2019 Stock Option and Grant Plan Adopted in 2019, the 2019 Stock Option and Grant Plan (“the 2019 Stock Plan”) provides for the direct award or sale of shares, the grant of options to purchase shares, and the grant of restricted stock units (“RSUs”) to employees, consultants, and outside directors of the Company. Stock options under the plan may be either incentive stock options (“ISOs”) or non-qualified stock options (“NSOs”), with an exercise price of not less than 100% of fair market value on the grant date, with a term less than or equal to ten years. The vesting period of each option and RSU shall be as determined by a committee of the Company’s board of directors but is generally over four years. Upon the closing of the Business Combination, the remaining unallocated share reserve under the 2019 Plan was cancelled and no new awards will be granted under such plan. Awards outstanding under the 2019 Plan were assumed by the Company upon the Closing and continue to be governed by the terms of the 2019 Plan. 2021 Incentive Award Plan In connection with the Closing of the Business Combination, on August 2, 2021, the Company adopted the 2021 Incentive Award Plan (the “2021 Plan”), which authorized for issuance 78.0 million shares of common stock. The 2021 Plan provides for the issuance of a variety of stock-based compensation awards, including stock options, stock appreciation rights (“SARs”), restricted stock awards, restricted stock unit awards, performance bonus awards, performance stock unit awards, dividend equivalents, or other stock or cash-based awards. The vesting period of each option and award shall be as determined by a committee of the Company’s board of directors but is generally over two This reserve increases on January 1 of each year through 2031, by an amount equal to the smaller of: (i) 5% of the number of shares of common stock issued and outstanding on the last day of the immediately preceding fiscal year, or (ii) an amount determined by the board of directors. Stock Options The following table summarizes option activity under the plans: Options Outstanding Weighted-Average Remaining Aggregate Intrinsic Value Number of Shares Weighted Average Exercise Price Contract Term Outstanding as of December 31, 2021 47,538,926 $ 1.39 8.30 $ 84.8 Granted 15,639,811 1.80 Exercised (2,754,832) 0.62 Cancelled/Expired (2,580,600) 1.56 Outstanding as of June 30, 2022 57,843,305 $ 1.47 8.36 $ 4.9 Vested and exercisable as of June 30, 2022 20,815,734 $ 1.04 7.62 $ 3.3 The aggregate intrinsic value of options exercised during the six months ended June 30, 2022 and 2021 was $3.4 million and $52.8 million, respectively, and is calculated based on the difference between the exercise price and the fair value of the Company’s common stock as of the exercise date. The weighted-average grant date fair value of options granted during the six months ended June 30, 2022 and 2021 was $0.61 and $2.86 per share, respectively. Total unrecognized compensation cost of $29.2 million as of June 30, 2022 is expected to be recognized over a weighted-average period of 1.9 years. Valuation Assumptions of Stock Options The fair value of granted stock options was estimated as of the date of grant using the Black-Scholes-Merton option-pricing model, based on the following inputs: June 30, 2022 2021 Expected term (in years) 5.0 - 6.7 5.8 - 6.1 Expected volatility 29.6% - 30.9% 29.7% - 30.1% Risk-free interest rate 2.6% - 3.0% 0.6% - 1.0% Expected dividend yield — % — % Expected Term – The expected term represents the period that the Company’s stock-based awards are expected to be outstanding. The Company has opted to use the simplified method for estimating the expected term of options. Accordingly, the expected term equals the arithmetic average of the vesting term and the original contractual term of the option (generally 10 years). Expected Volatility – Due to the Company’s limited operating history and a lack of company specific historical and implied volatility data, the Company has based its estimate of expected volatility on the historical volatility of a group of peer companies that are publicly traded. The historical volatility data was computed using the daily closing prices for the selected companies’ shares during the equivalent period of the calculated expected term of the stock-based awards. Risk-Free Interest Rate – The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for zero coupon U.S. Treasury notes with maturities approximately equal to the grant’s expected term. Expected Dividend Yield – The Company has never paid dividends and does not currently expect to pay dividends. Fair value of common stock – Prior to contemplating a public market transaction, the Company established the fair value of common stock by using the option pricing model (Black-Scholes Model based) via the back-solve method and through placing weight on previously redeemable preferred stock transactions. On ce the Company made intentional progress toward pursuing a public market transaction, it began applying the probability-weighted expected return method to determine the fair value of its common stock. The probability weightings assigned to certain potential exit scenarios were based on management’s expected near-term and long-term funding requirements and assessment of the most attractive liquidation possibilities at the time of the valuation. Subsequent to the Business Combination, the Company determined the value of its common stock based on the observable daily closing price of its common stock (ticker symbol “HIPO”). Early Exercises of Stock Options In 2019, certain employees early exercised stock options in exchange for promissory notes. The Company accounted for the promissory notes as nonrecourse in their entirety because the promissory notes are not aligned with a corresponding percentage of the underlying shares. The early exercises of options were not deemed to be substantive exercises for accounting purposes. Each of these loans and all interest accrued thereon was forgiven upon the consummation of the Business Combination. The forgiveness of the promissory notes were deemed to be exercises of the 9.4 million stock options with an intrinsic value of $94.0 million on the date of forgiveness. The related number of unvested shares subject to repurchase as of June 30, 2022 was 1.8 million. In 2020 and 2021, certain employees early exercised stock options with cash. On June 30, 2022 and December 31, 2021, the Company had $1.7 million and $2.2 million, respectively, recorded in accrued expenses and other liabilities related to early exercises of the stock options, and the related number of unvested shares subject to repurchase was 1.6 million and 2.1 million, respectively. Restricted Stock Units and Performance Restricted Stock Units The Company grants service based RSUs and performance based RSUs (“PRSUs”) as part of our equity compensation plans. The Company measures RSU and PRSU expense for awards granted based on the estimated fair value of those awards at grant date. To estimate the fair value of PRSUs containing a market condition, the Company uses the Monte Carlo valuation model. The fair value of all other awards is based on the closing price of the Company’s common stock as reported on the NYSE on the date of grant. The RSUs generally vest over a period of two one Stock-based compensation expense for RSUs are recognized based on the straight-line basis over the employee requisite service period. Stock-based compensation expense for PRSUs are recognized on a graded accelerated basis over the employee requisite service period. The Company accounts for forfeitures as they occur. In June 2022, the Company granted 25.2 million PRSUs. Half of the PRSUs granted are subject to the achievement of market-based performance goals, the remaining PRSUs are subject to vesting pursuant to internal financial measures. The actual number of units that ultimately vest will range from 0% to 100% of the granted amount, based on the level of achievement of the performance goals and continued employment with the Company. The following table presents the assumptions utilized in the Monte Carlo valuation model for market-based awards for the period indicated: June 30, 2022 Expected term (in years) 4.1 Expected volatility 95.0 % Risk-free interest rate 2.9 % Expected dividend yield — % The following table summarizes the RSU and PRSU activity for the six months ended June 30, 2022: Number of Shares Weighted Average Grant-Date Fair Value per Share Unvested and outstanding as of December 31, 2021 28,939,349 $ 3.99 Granted 56,545,065 1.40 Released (4,777,767) 3.67 Canceled and forfeited (3,340,510) 3.51 Unvested and outstanding as of June 30, 2022 77,366,137 $ 2.14 Total unrecognized compensation cost related to unvested RSUs and PRSUs are $147.6 million as of June 30, 2022, and it is expected to be recognized over a weighted-average period of 2.6 years. 2021 Employee Stock Purchase Plan In connection with the closing of the Business Combination, the Company adopted the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which authorized 13.0 million shares of common stock for issuance. The 2021 ESPP became effective on October 25, 2021. The 2021 ESPP is designed to allow eligible employees of the Company to purchase shares of our common stock with their accumulated payroll deductions at a price equal to 85% of the lesser of the fair market value on the first business day of the offering period or on the designated purchase date of the offering period up to $25,000 during the calendar year. The ESPP offers a six-month look-back feature as well as an automatic reset feature that provides for an offering period to be reset to a new lower-priced offering if the offering price of the new offering period is less than that of the current offering period. During the six months ended June 30, 2022, 1.1 million shares have been issued under the 2021 ESPP for $1.6 million . In addition, the number of shares available for issuance under the 2021 ESPP will be annually increased on January 1 of each calendar year beginning in 2022 and ending in 2031, by an amount equal to the lesser of (i) one percent of the shares outstanding (on a converted basis) on the last day of the immediately preceding fiscal year and (ii) such number of shares as may be determined by the board of directors. Stock-Based Compensation Total stock-based compensation expense, classified in the accompanying consolidated statements of operations and comprehensive loss was as follows (in millions): Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Losses and loss adjustment expenses $ 1.0 $ 0.1 $ 1.6 $ 0.1 Insurance related expenses 1.2 — 2.5 0.1 Technology and development 5.8 0.5 11.1 1.0 Sales and marketing 3.1 1.2 5.4 2.1 General and administrative 4.8 1.0 8.7 2.0 Total stock-based compensation expense $ 15.9 $ 2.8 $ 29.3 $ 5.3

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes The consolidated effective tax rate was (0.4)% and (0.1)% for the six months ended June 30, 2022 and 2021, respectively. The difference between the rate for the six months ended June 30, 2022 and 2021 and the U.S. federal income tax rate of 21% was due primarily to a full valuation allowance against the Company’s net deferred tax assets. As of June 30, 2022 and 2021, the Company has $1.4 million and $0.0 million of unrecognized tax benefits, respectively, fully offset by a valuation allowance. No interest or penalties were incurred during the six months ended June 30, 2022 and 2021.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	16. Net Loss Per Share Attributable to Common Stockholders Net loss per share attributable to common stockholders was computed as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Numerator: Net loss attributable to Hippo – basic and diluted (in millions) $ (73.5) $ (84.5) $ (141.1) $ (279.8) Denominator: Weighted-average shares used in computing net loss per share attributable to Hippo — basic and diluted 566,107,642 98,295,275 563,876,248 97,139,194 Net loss per share attributable to Hippo — basic and diluted $ (0.13) $ (0.86) $ (0.25) $ (2.88) The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: June 30, 2022 2021 Convertible preferred stock (on an as if converted basis) — 305,887,443 Outstanding options 57,843,305 67,747,921 Warrants to purchase common shares 9,000,000 33,384,616 Warrants to purchase preferred shares — 17,344,906 Common stock subject to repurchase 3,404,233 11,917,343 RSU and PRSUs 77,366,137 — Convertible notes — 150,237,952 Total 147,613,675 586,520,181

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events On July 19, 2022, the Company received a notice from the New York Stock Exchange (“NYSE”) that the Company is not in compliance with the NYSE continued listing standard as set forth in Section 802.01C of the NYSE Listed Company Manual, as the average closing price of the Company’s common stock was less than $1.00 per share over a consecutive 30-trading day period. The notification of non-compliance has no immediate effect on the listing or trading of Hippo’s common stock on the NYSE, subject to the Company’s compliance with the NYSE’s other continued listing requirements. Pursuant to Section 802.01C, the Company has six months following receipt of the notification to regain compliance with the minimum share price requirement, with the possibility of extension at the discretion of the NYSE. In order to regain compliance, on the last trading day in any calendar month during the cure period, the Company’s common s tock must have: (i) a closing price of at least $1.00 per share; and (ii) an average closing price of at least $1.00 per share over the 30-trading day period ending on the last trading day of such month. The Company’s failure to regain compliance during this period could result in delisting.

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	The interim consolidated financial statements and accompanying notes of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and include the Company’s consolidated subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted accordingly. The interim financial information is unaudited, but reflects all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the information set forth herein. The interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Interim results are not necessarily indicative of the results for a full year.
Use of Estimates	The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include, but are not limited to, loss and loss adjustment expense (“LAE”) reserves, provision for commission slide and cancellations, reinsurance recoverable on paid and unpaid losses and LAE, the fair values of investments, fair value of common stock prior to the Business Combination, stock-based awards, acquired intangible assets and goodwill, deferred tax assets and uncertain tax positions, and revenue recognition. The Company evaluates these estimates on an ongoing basis. These estimates are informed by experience and other assumptions that the Company believes are reasonable under the circumstances. Actual results may differ significantly from these estimates.
Recent Accounting Pronouncements	Accounting Pronouncements Recently Adopted In February 2016, the FASB issued ASU 2016-02 In June 2016, the FASB issued ASU No. 2016-13, Financial instruments — Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), and subsequent related ASUs, which amends the guidance on the impairment of financial instruments by requiring measurement and recognition of expected credit losses for financial assets held. The Company early adopted Topic 326 effective January 1, 2022 using the modified retrospective approach which resulted in no cumulative-effect adjustment to retained earnings. The adoption of the accounting guidance did not have a material impact on the Company’s available-for-sale securities. In December 2020, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The Company adopted ASU 2019-12 as of January 1, 2022, under the private company transition guidance and the adoption of this standard did not have a material impact on the Company’s consolidated financial statements.
Leases	Leases arise from contractual obligations that convey the right to control the use of an identified property, plant or equipment for a stated time period in exchange for consideration. The Company determines if an arrangement is, or contains a lease at contract inception. Lease classification is determined at the lease commencement date, on which the leased assets are available for the Company’s use. The Company recognizes a ROU asset and a corresponding lease liability at commencement date for operating leases. ROU assets are presented under other assets, and lease liabilities are presented under accrued expenses and other liabilities in the consolidated balance sheets. The Company did not have any material finance leases in the periods presented. ROU assets represent the Company’s right to use an underlying asset during the lease term and lease liabilities represent the Company’s obligation to make payments during the lease term. ROU assets are recognized at the lease commencement date for the lease liability amount, adjusted for initial direct costs incurred and lease incentives received. Lease liabilities are recognized at commencement based on the present value of the future lease payments over the lease term. Lease terms may include options to extend or terminate the lease when the Company believes it is reasonably certain that the Company will exercise such options. Since the implicit discount rate for operating leases is not readily determinable, the Company uses an estimate of its incremental borrowing rate (“IBR”) on the lease commencement date in determining the present value of lease payments. IBR is determined based on information available at lease commencement including interest rates, credit ratings, credit spreads, and lease term. Operating lease expense is recognized on a straight-line basis over the lease term. The Company accounts for lease and non-lease components as a single lease component. Accordingly, the Company includes fixed non-lease components with lease payments for the purpose of calculating lease right-of-use assets and liabilities. Non-lease components that are not fixed are expensed as incurred as variable lease payments. The Company does not record leases on the balance sheet that have a term of 12 months or less at the lease commencement date.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Fixed Maturities Securities and Short-Term Investments	The amortized cost and fair value of fixed maturities securities and short-term investments are as follows (in millions): June 30, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Fixed maturities available-for-sale: U.S. government and agencies $ 21.2 $ — $ (0.4) $ 20.8 States and other territories 5.8 — (0.4) 5.4 Municipal securities 3.1 — — 3.1 Corporate securities 43.6 — (1.8) 41.8 Foreign securities 0.9 — — 0.9 Residential mortgage-backed securities 15.6 — (1.1) 14.5 Commercial mortgage-backed securities 6.5 — (0.6) 5.9 Asset backed securities 10.6 — (0.4) 10.2 Total fixed maturities available-for-sale 107.3 — (4.7) 102.6 Short-term investments: U.S. government and agencies 352.0 — (0.3) 351.7 Total $ 459.3 $ — $ (5.0) $ 454.3 December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Fixed maturities available-for-sale: U.S. government and agencies $ 9.3 $ — $ — $ 9.3 States and other territories 5.8 — (0.1) 5.7 Corporate securities 17.3 — (0.2) 17.1 Foreign securities 0.9 — — 0.9 Residential mortgage-backed securities 10.8 — (0.2) 10.6 Commercial mortgage-backed securities 4.8 — (0.1) 4.7 Asset backed securities 6.7 — (0.1) 6.6 Total fixed maturities available-for-sale $ 55.6 $ — $ (0.7) $ 54.9 Short-term investments: U.S. government and agencies 9.1 — — 9.1 Total $ 64.7 $ — $ (0.7) $ 64.0
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value	The following tables present the gross unrealized losses and related fair values for the Company’s investments in available-for-sale debt securities, grouped by duration of time in a continuous unrealized loss position as of June 30, 2022, and December 31, 2021 (in millions): June 30, 2022 Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fixed maturities available-for-sale: U.S. government and agencies $ 19.1 $ (0.3) $ 1.8 $ (0.1) $ 20.9 $ (0.4) States and other territories 1.5 (0.1) 3.8 (0.3) 5.3 (0.4) Corporate securities 32.9 (1.1) 8.9 (0.7) 41.8 (1.8) Residential mortgage-backed securities 8.1 (0.3) 6.4 (0.8) 14.5 (1.1) Commercial mortgage-backed securities 2.3 (0.1) 3.7 (0.5) 6.0 (0.6) Asset backed securities 7.4 (0.2) 2.8 (0.2) 10.2 (0.4) Short-term investments: U.S. government and agencies 349.5 (0.3) — — 349.5 (0.3) Total $ 420.8 $ (2.4) $ 27.4 $ (2.6) $ 448.2 $ (5.0) December 31, 2021 Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses States and other territories 5.2 (0.1) — — 5.2 (0.1) Corporate securities 15.9 (0.2) — — 15.9 (0.2) Residential mortgage-backed securities 10.5 (0.2) — — 10.5 (0.2) Commercial mortgage-backed securities 4.7 (0.1) — — 4.7 (0.1) Asset backed securities 5.4 (0.1) — — 5.4 (0.1) Total $ 41.7 $ (0.7) $ — $ — $ 41.7 $ (0.7)
Investments Classified by Contractual Maturity Date	The amortized cost and fair value of fixed maturities securities by contractual maturity are as follows (in millions): June 30, 2022 Amortized Cost Fair Value Due to mature: One year or less $ 9.7 $ 9.6 After one year through five years 61.7 59.6 After five years 3.2 2.8 Residential mortgage-backed securities 15.6 14.5 Commercial mortgage-backed securities 6.5 5.9 Asset backed securities 10.6 10.2 Total fixed maturities available-for-sale $ 107.3 $ 102.6
Investment Income	The Company’s net investment income is comprised of the following (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Interest on cash and cash equivalents $ 0.2 $ — $ 0.2 $ — Fixed maturities income 0.2 0.1 0.5 0.2 Short-term investment income 0.7 — 0.9 — Total gross investment income 1.1 0.1 1.6 0.2 Investment expenses — — (0.1) — Net investment income $ 1.1 $ 0.1 $ 1.5 $ 0.2

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2022
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	The following table sets forth the cash, cash equivalents, and restricted cash (in millions): June 30, December 31, Cash and cash equivalents: Cash $ 194.6 $ 219.2 Money market funds 76.7 556.4 Treasury bills 6.2 — Total cash and cash equivalents 277.5 775.6 Restricted cash: Fiduciary assets 28.7 25.0 Letters of credit and cash on deposit 18.3 18.1 Total restricted cash 47.0 43.1 Total cash, cash equivalents, and restricted cash $ 324.5 $ 818.7
Restrictions on Cash and Cash Equivalents	The following table sets forth the cash, cash equivalents, and restricted cash (in millions): June 30, December 31, Cash and cash equivalents: Cash $ 194.6 $ 219.2 Money market funds 76.7 556.4 Treasury bills 6.2 — Total cash and cash equivalents 277.5 775.6 Restricted cash: Fiduciary assets 28.7 25.0 Letters of credit and cash on deposit 18.3 18.1 Total restricted cash 47.0 43.1 Total cash, cash equivalents, and restricted cash $ 324.5 $ 818.7

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following table summarizes the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in millions): June 30, 2022 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents: Money market funds $ 76.7 $ — $ — $ 76.7 Treasury bills 6.2 — — 6.2 Total cash equivalents 82.9 — — 82.9 Fixed maturities available-for-sale: U.S. government and agencies 20.8 — — 20.8 States and other territories — 5.4 — 5.4 Municipal securities — 3.1 — 3.1 Corporate securities — 41.8 — 41.8 Foreign securities — 0.9 — 0.9 Residential mortgage-backed securities — 14.5 — 14.5 Commercial mortgage-backed securities — 5.9 — 5.9 Asset backed securities — 10.2 — 10.2 Total fixed maturities available-for-sale 20.8 81.8 — 102.6 Short term investments U.S. government and agencies 351.7 — — 351.7 Total financial assets $ 455.4 $ 81.8 $ — $ 537.2 Financial liabilities: Contingent consideration liability $ — $ — $ 12.4 $ 12.4 Public warrants 0.9 — — 0.9 Private placement warrants — 0.8 — 0.8 Total financial liabilities $ 0.9 $ 0.8 $ 12.4 $ 14.1 December 31, 2021 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents: Money market funds $ 556.4 $ — $ — $ 556.4 Total cash equivalents 556.4 — — 556.4 Fixed maturities available-for-sale: U.S. government and agencies 9.3 — — 9.3 States and other territories — 5.7 — 5.7 Corporate securities — 17.1 — 17.1 Foreign securities — 0.9 — 0.9 Residential mortgage-backed securities — 10.6 — 10.6 Commercial mortgage-backed securities — 4.7 — 4.7 Asset backed securities — 6.6 — 6.6 Total fixed maturities available-for-sale 9.3 45.6 — 54.9 Short term investments U.S. government and agencies — 9.1 — 9.1 Total financial assets $ 565.7 $ 54.7 $ — $ 620.4 Financial liabilities: Contingent consideration liability $ — $ — $ 11.6 $ 11.6 Public warrants 2.2 — — 2.2 Private placement warrants — 2.1 — 2.1 Total financial liabilities $ 2.2 $ 2.1 $ 11.6 $ 15.9
Liabilities Measured on at Fair Value, Unobservable Input Reconciliation	The table below presents the changes in the contingent consideration liability valued using Level 3 inputs (in millions): 2022 2021 Balance as of January 1, $ 11.6 $ 12.0 Payments of contingent consideration (1.6) (1.7) Changes in fair value 2.4 1.3 Balance as of June 30, $ 12.4 $ 11.6 The table below presents changes in the preferred stock warrant liability valued using Level 3 inputs (in millions): 2021 Balance as of January 1, $ 22.9 Changes in fair value 114.6 Balance as of June 30, $ 137.5 2021 Balance as of January 1, $ 113.3 Initial measurement of new derivative 2.8 Changes in fair value 46.5 Balance as of June 30, $ 162.6
Fair Value Measurement Inputs and Valuation Techniques	The following assumptions were used in determining fair value of the convertible preferred stock warrant liabilities: June 30, 2021 Fair value of Series A-2 Preferred Stock $ 66.64 Fair value of Series C-1 Preferred Stock $ 66.74 Exercise price A-2 Preferred Stock $ 1.57 Exercise price C-1 Preferred Stock $ 11.74 Expected term (in years) 1.3-5.7 Expected volatility 26.6%-29.1% Risk-free interest rate 0.1%-1.1% Expected dividend yield — %

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	June 30, 2022 December 31, 2021 Weighted- Average Useful Life Remaining (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount (in millions) (in millions) Agency and carrier relationships 6.4 $ 13.5 $ (2.5) $ 11.0 $ 13.5 $ (1.7) $ 11.8 State licenses and domain name Indefinite 10.5 — 10.5 10.5 — 10.5 Customer relationships 2.8 13.7 (7.3) 6.4 13.7 (6.0) 7.7 Developed technology — — — — 3.6 (2.7) 0.9 VOBA — — — — 0.1 (0.1) — Other 6.4 1.7 (0.4) 1.3 2.0 (0.7) 1.3 Total intangible assets, net $ 39.4 $ (10.2) $ 29.2 $ 43.4 $ (11.2) $ 32.2
Schedule of Finite-Lived Intangible Assets	June 30, 2022 December 31, 2021 Weighted- Average Useful Life Remaining (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount (in millions) (in millions) Agency and carrier relationships 6.4 $ 13.5 $ (2.5) $ 11.0 $ 13.5 $ (1.7) $ 11.8 State licenses and domain name Indefinite 10.5 — 10.5 10.5 — 10.5 Customer relationships 2.8 13.7 (7.3) 6.4 13.7 (6.0) 7.7 Developed technology — — — — 3.6 (2.7) 0.9 VOBA — — — — 0.1 (0.1) — Other 6.4 1.7 (0.4) 1.3 2.0 (0.7) 1.3 Total intangible assets, net $ 39.4 $ (10.2) $ 29.2 $ 43.4 $ (11.2) $ 32.2

Capitalized Internal Use Soft_2

Capitalized Internal Use Software (Tables)	6 Months Ended
	Jun. 30, 2022
Research and Development [Abstract]
Schedule of Capitalized Computer Software	June 30, December 31, (in millions) Capitalized internal use software $ 46.5 $ 34.5 Less: accumulated amortization (12.5) (8.6) Total capitalized internal use software $ 34.0 $ 25.9

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	June 30, December 31, (in millions) Prepaid expenses $ 19.4 $ 21.2 Claims receivable 13.0 24.4 Lease right-of-use assets 20.8 — Property and equipment 4.0 1.1 Other 5.3 5.1 Total other assets $ 62.5 $ 51.8

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	June 30, December 31, (in millions) Claim payments outstanding $ 27.9 $ 23.2 Lease liability 21.7 — Advances from customers 14.0 8.7 Deferred revenue 10.4 11.2 Employee related accruals 6.6 8.5 Premium refund liability 7.5 4.8 Fiduciary liability 3.9 3.7 Contingent consideration liability 12.4 11.6 Other 16.2 23.7 Total accrued expenses and other liabilities $ 120.6 $ 95.4

Loss and Loss Adjustment Expe_2

Loss and Loss Adjustment Expense Reserves (Tables)	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense	The reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses, net of reinsurance is summarized as follows for the six months ended June 30, (in millions): 2022 2021 Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of beginning of the period $ 260.8 $ 105.1 Reinsurance recoverables on unpaid losses and LAE (217.0) (92.1) Reserve for losses and LAE, net of reinsurance recoverables as of beginning of the period 43.8 13.0 Add: Incurred losses and LAE, net of reinsurance, related to: Current year 57.7 39.0 Prior years (6.0) (0.3) Total incurred 51.7 38.7 Deduct: Loss and LAE payments, net of reinsurance, related to: Current year 28.2 19.5 Prior year 12.8 5.1 Total paid 41.0 24.6 Reserve for losses and LAE, net of reinsurance recoverables at end of period 54.5 27.1 Add: Reinsurance recoverables on unpaid losses and LAE at end of period 214.3 168.1 Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of end of the period $ 268.8 $ 195.2

Reinsurance (Tables)

Reinsurance (Tables)	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Effects of Reinsurance	The following tables reflect amounts affecting the consolidated statements of operations and comprehensive loss for ceded reinsurance as of and for the three and six months ended June 30, 2022, and 2021 (in millions). For the Three Months Ended June 30, 2022 2021 Written premiums Earned premiums Loss and LAE incurred Written premiums Earned premiums Loss and LAE incurred Direct $ 161.7 $ 128.8 $ 99.0 $ 129.3 $ 83.9 $ 135.7 Assumed 0.1 — 2.0 (0.7) 3.2 4.8 Gross 161.8 128.8 101.0 128.6 87.1 140.5 Ceded (147.2) (117.6) (71.8) (116.4) (76.9) (119.1) Net $ 14.6 $ 11.2 $ 29.2 $ 12.2 $ 10.2 $ 21.4 For the Six Months Ended June 30, 2022 2021 Written premiums Earned premiums Loss and LAE incurred Written premiums Earned premiums Loss and LAE incurred Direct $ 278.8 $ 248.8 $ 189.9 $ 224.3 $ 154.9 $ 276.1 Assumed 0.1 0.1 2.3 3.4 6.6 10.1 Gross 278.9 248.9 192.2 227.7 161.5 286.2 Ceded (263.6) (228.7) (140.5) (208.4) (142.5) (247.5) Net $ 15.3 $ 20.2 $ 51.7 $ 19.3 $ 19.0 $ 38.7

Geographical Breakdown of Gro_2

Geographical Breakdown of Gross Written Premium (Tables)	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Gross Written Premium by Geographical Areas	Gross written premium by state is as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Amount % of GWP Amount % of GWP Amount % of GWP Amount % of GWP State Texas $ 43.1 26.6 % $ 39.9 31.0 % $ 77.0 27.6 % $ 72.9 32.0 % California 31.2 19.3 % 22.8 17.7 % 53.3 19.1 % 41.6 18.3 % Florida 15.9 9.8 % 8.6 6.7 % 22.7 8.1 % 14.4 6.3 % Georgia 7.5 4.6 % 5.6 4.4 % 13.6 4.9 % 9.8 4.3 % Illinois 5.9 3.6 % 4.5 3.5 % 9.4 3.4 % 7.6 3.3 % Colorado 4.0 2.5 % 3.1 2.4 % 7.2 2.6 % 5.7 2.5 % Missouri 3.6 2.2 % 3.5 2.7 % 6.6 2.4 % 5.9 2.6 % Arizona 3.3 2.1 % 2.9 2.3 % 6.4 2.3 % 5.3 2.3 % Ohio 3.8 2.4 % 2.8 2.2 % 6.4 2.3 % 4.8 2.1 % New Jersey 1.9 1.2 % 2.3 1.8 % 4.5 1.6 % 4.5 2.0 % Other 41.6 25.7 % 32.6 25.3 % 71.8 25.7 % 55.2 24.3 % Total $ 161.8 100 % $ 128.6 100 % $ 278.9 100 % $ 227.7 100 %

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Lease, Cost	The weighted average remaining lease term and the weighted average discount rate for operating leases as of June 30, 2022 were as follows: Weighted average remaining lease term 4.21 Weighted average discount rate 4.04% The following table presents supplemental cash flow information about the Company’s operating leases (in millions): Six Months Ended June 30, 2022 Cash paid for operating lease liabilities $ (2.0) Right-of-use assets obtained in exchange for new operating liabilities $ 6.0
Lessee, Operating Lease, Liability, Maturity	Maturities of operating lease liabilities by fiscal year as of June 30, 2022 are as follows (in millions): Operating Leases 2022 (Remainder) $ 2.5 2023 5.6 2024 5.6 2025 5.0 2026 3.7 Thereafter 0.9 Total undiscounted lease payments 23.3 Less: Imputed interest (1.6) Present value of lease payments $ 21.7

Stockholders_ Deficit (Tables)

Stockholders’ Deficit (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Share-based Payment Arrangement, Option, Activity	The following table summarizes option activity under the plans: Options Outstanding Weighted-Average Remaining Aggregate Intrinsic Value Number of Shares Weighted Average Exercise Price Contract Term Outstanding as of December 31, 2021 47,538,926 $ 1.39 8.30 $ 84.8 Granted 15,639,811 1.80 Exercised (2,754,832) 0.62 Cancelled/Expired (2,580,600) 1.56 Outstanding as of June 30, 2022 57,843,305 $ 1.47 8.36 $ 4.9 Vested and exercisable as of June 30, 2022 20,815,734 $ 1.04 7.62 $ 3.3
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of granted stock options was estimated as of the date of grant using the Black-Scholes-Merton option-pricing model, based on the following inputs: June 30, 2022 2021 Expected term (in years) 5.0 - 6.7 5.8 - 6.1 Expected volatility 29.6% - 30.9% 29.7% - 30.1% Risk-free interest rate 2.6% - 3.0% 0.6% - 1.0% Expected dividend yield — % — %
Schedule of Share-based Payment Award, Performance Restricted Stock Units, Valuation Assumptions	The following table presents the assumptions utilized in the Monte Carlo valuation model for market-based awards for the period indicated: June 30, 2022 Expected term (in years) 4.1 Expected volatility 95.0 % Risk-free interest rate 2.9 % Expected dividend yield — %
Schedule of Unvested Restricted Stock Units Roll Forward	The following table summarizes the RSU and PRSU activity for the six months ended June 30, 2022: Number of Shares Weighted Average Grant-Date Fair Value per Share Unvested and outstanding as of December 31, 2021 28,939,349 $ 3.99 Granted 56,545,065 1.40 Released (4,777,767) 3.67 Canceled and forfeited (3,340,510) 3.51 Unvested and outstanding as of June 30, 2022 77,366,137 $ 2.14
Share-based Payment Arrangement, Expensed and Capitalized, Amount	Total stock-based compensation expense, classified in the accompanying consolidated statements of operations and comprehensive loss was as follows (in millions): Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Losses and loss adjustment expenses $ 1.0 $ 0.1 $ 1.6 $ 0.1 Insurance related expenses 1.2 — 2.5 0.1 Technology and development 5.8 0.5 11.1 1.0 Sales and marketing 3.1 1.2 5.4 2.1 General and administrative 4.8 1.0 8.7 2.0 Total stock-based compensation expense $ 15.9 $ 2.8 $ 29.3 $ 5.3

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Net loss per share attributable to common stockholders was computed as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Numerator: Net loss attributable to Hippo – basic and diluted (in millions) $ (73.5) $ (84.5) $ (141.1) $ (279.8) Denominator: Weighted-average shares used in computing net loss per share attributable to Hippo — basic and diluted 566,107,642 98,295,275 563,876,248 97,139,194 Net loss per share attributable to Hippo — basic and diluted $ (0.13) $ (0.86) $ (0.25) $ (2.88)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: June 30, 2022 2021 Convertible preferred stock (on an as if converted basis) — 305,887,443 Outstanding options 57,843,305 67,747,921 Warrants to purchase common shares 9,000,000 33,384,616 Warrants to purchase preferred shares — 17,344,906 Common stock subject to repurchase 3,404,233 11,917,343 RSU and PRSUs 77,366,137 — Convertible notes — 150,237,952 Total 147,613,675 586,520,181

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Jun. 30, 2022	Jan. 01, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accounting standards update [extensible enumeration]	Accounting Standards Update 2016-02 [Member]
Lease liability	$ 0	$ 21.7
ROU assets	$ 0	$ 20.8
Cumulative Effect, Period of Adoption, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Lease liability			$ 17.4
ROU assets			16.7
Deferred rent			$ (0.7)

Investments - Fixed Maturities

Investments - Fixed Maturities Securities and Short-Term Investments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 107.3	$ 55.6
Unrealized Gains	0	0
Unrealized Losses	(4.7)	(0.7)
Fair Value	102.6	54.9
Fair Value	351.7	9.1
Amortized Cost	459.3	64.7
Unrealized Gains	0	0
Unrealized Losses	(5)	(0.7)
Total investments	454.3	64
U.S. government and agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	21.2	9.3
Unrealized Gains	0	0
Unrealized Losses	(0.4)	0
Fair Value	20.8	9.3
Amortized Cost	352	9.1
Unrealized Gains	0	0
Unrealized Losses	(0.3)	0
Fair Value	351.7	9.1
States and other territories
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5.8	5.8
Unrealized Gains	0	0
Unrealized Losses	(0.4)	(0.1)
Fair Value	5.4	5.7
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3.1
Unrealized Gains	0
Unrealized Losses	0
Fair Value	3.1
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	43.6	17.3
Unrealized Gains	0	0
Unrealized Losses	(1.8)	(0.2)
Fair Value	41.8	17.1
Foreign securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	0.9	0.9
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	0.9	0.9
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	15.6	10.8
Unrealized Gains	0	0
Unrealized Losses	(1.1)	(0.2)
Fair Value	14.5	10.6
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6.5	4.8
Unrealized Gains	0	0
Unrealized Losses	(0.6)	(0.1)
Fair Value	5.9	4.7
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10.6	6.7
Unrealized Gains	0	0
Unrealized Losses	(0.4)	(0.1)
Fair Value	$ 10.2	$ 6.6

Investments - Continuous Loss P

Investments - Continuous Loss Position (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	$ 420.8	$ 41.7
Less than 12 months, Gross Unrealized Losses	(2.4)	(0.7)
12 months or more, Fair Value	27.4	0
12 months or more, Gross Unrealized Losses	(2.6)	0
Total, Fair Value	448.2	41.7
Total, Gross Unrealized Losses	(5)	(0.7)
U.S. government and agencies
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	19.1
Less than 12 months, Gross Unrealized Losses	(0.3)
12 months or more, Fair Value	1.8
12 months or more, Gross Unrealized Losses	(0.1)
Total, Fair Value	20.9
Total, Gross Unrealized Losses	(0.4)
States and other territories
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	1.5	5.2
Less than 12 months, Gross Unrealized Losses	(0.1)	(0.1)
12 months or more, Fair Value	3.8	0
12 months or more, Gross Unrealized Losses	(0.3)	0
Total, Fair Value	5.3	5.2
Total, Gross Unrealized Losses	(0.4)	(0.1)
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	32.9	15.9
Less than 12 months, Gross Unrealized Losses	(1.1)	(0.2)
12 months or more, Fair Value	8.9	0
12 months or more, Gross Unrealized Losses	(0.7)	0
Total, Fair Value	41.8	15.9
Total, Gross Unrealized Losses	(1.8)	(0.2)
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	8.1	10.5
Less than 12 months, Gross Unrealized Losses	(0.3)	(0.2)
12 months or more, Fair Value	6.4	0
12 months or more, Gross Unrealized Losses	(0.8)	0
Total, Fair Value	14.5	10.5
Total, Gross Unrealized Losses	(1.1)	(0.2)
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	2.3	4.7
Less than 12 months, Gross Unrealized Losses	(0.1)	(0.1)
12 months or more, Fair Value	3.7	0
12 months or more, Gross Unrealized Losses	(0.5)	0
Total, Fair Value	6	4.7
Total, Gross Unrealized Losses	(0.6)	(0.1)
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	7.4	5.4
Less than 12 months, Gross Unrealized Losses	(0.2)	(0.1)
12 months or more, Fair Value	2.8	0
12 months or more, Gross Unrealized Losses	(0.2)	0
Total, Fair Value	10.2	5.4
Total, Gross Unrealized Losses	(0.4)	$ (0.1)
U.S. government and agencies
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	349.5
Less than 12 months, Gross Unrealized Losses	(0.3)
12 months or more, Fair Value	0
12 months or more, Gross Unrealized Losses	0
Total, Fair Value	349.5
Total, Gross Unrealized Losses	$ (0.3)

Investments - Contractual Matur

Investments - Contractual Maturity (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Amortized Cost
One year or less	$ 9.7
After one year through five years	61.7
After five years	3.2
Amortized Cost	107.3	$ 55.6
Fair Value
One year or less	9.6
After one year through five years	59.6
After five years	2.8
Fair Value	102.6	54.9
Residential mortgage-backed securities
Amortized Cost
Securities	15.6
Amortized Cost	15.6	10.8
Fair Value
Securities	14.5
Fair Value	14.5	10.6
Commercial mortgage-backed securities
Amortized Cost
Securities	6.5
Amortized Cost	6.5	4.8
Fair Value
Securities	5.9
Fair Value	5.9	4.7
Asset backed securities
Amortized Cost
Securities	10.6
Amortized Cost	10.6	6.7
Fair Value
Securities	10.2
Fair Value	$ 10.2	$ 6.6

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Interest on cash and cash equivalents	$ 0.2	$ 0	$ 0.2	$ 0
Fixed maturities income	0.2	0.1	0.5	0.2
Short-term investment income	0.7	0	0.9	0
Total gross investment income	1.1	0.1	1.6	0.2
Investment expenses	0	0	(0.1)	0
Net investment income	$ 1.1	$ 0.1	$ 1.5	$ 0.2

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Securities on deposit with state regulatory authorities	$ 11.4	$ 8.4

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 277.5	$ 775.6
Restricted cash	47	43.1
Total cash, cash equivalents, and restricted cash	324.5	818.7	$ 410.2	$ 492.4
Cash
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	194.6	219.2
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	76.7	556.4
Treasury bills
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	6.2	0
Fiduciary assets
Cash and Cash Equivalents [Line Items]
Restricted cash	28.7	25
Letters of credit and cash on deposit
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 18.3	$ 18.1

Fair Value Measurement - Assets

Fair Value Measurement - Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Financial assets:
Cash equivalents	$ 82.9	$ 556.4
Fixed maturities available-for-sale	102.6	54.9
Short-term investments	351.7	9.1
Total financial assets	537.2	620.4
Financial liabilities:
Contingent consideration liability	12.4	11.6
Total financial liabilities	14.1	15.9
Public warrants
Financial liabilities:
Warrants liabilities	0.9	2.2
Private placement warrants
Financial liabilities:
Warrants liabilities	0.8	2.1
U.S. government and agencies
Financial assets:
Fixed maturities available-for-sale	20.8	9.3
Short-term investments	351.7	9.1
States and other territories
Financial assets:
Fixed maturities available-for-sale	5.4	5.7
Municipal securities
Financial assets:
Fixed maturities available-for-sale	3.1
Corporate securities
Financial assets:
Fixed maturities available-for-sale	41.8	17.1
Foreign securities
Financial assets:
Fixed maturities available-for-sale	0.9	0.9
Residential mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	14.5	10.6
Commercial mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	5.9	4.7
Asset backed securities
Financial assets:
Fixed maturities available-for-sale	10.2	6.6
Money market funds
Financial assets:
Cash equivalents	76.7	556.4
Treasury bills
Financial assets:
Cash equivalents	6.2
Level 1
Financial assets:
Cash equivalents	82.9	556.4
Fixed maturities available-for-sale	20.8	9.3
Total financial assets	455.4	565.7
Financial liabilities:
Contingent consideration liability	0	0
Total financial liabilities	0.9	2.2
Level 1 | Public warrants
Financial liabilities:
Warrants liabilities	0.9	2.2
Level 1 | Private placement warrants
Financial liabilities:
Warrants liabilities	0	0
Level 1 | U.S. government and agencies
Financial assets:
Fixed maturities available-for-sale	20.8	9.3
Short-term investments	351.7	0
Level 1 | States and other territories
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Municipal securities
Financial assets:
Fixed maturities available-for-sale	0
Level 1 | Corporate securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Foreign securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Residential mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Commercial mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Asset backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Money market funds
Financial assets:
Cash equivalents	76.7	556.4
Level 1 | Treasury bills
Financial assets:
Cash equivalents	6.2
Level 2
Financial assets:
Cash equivalents	0	0
Fixed maturities available-for-sale	81.8	45.6
Total financial assets	81.8	54.7
Financial liabilities:
Contingent consideration liability	0	0
Total financial liabilities	0.8	2.1
Level 2 | Public warrants
Financial liabilities:
Warrants liabilities	0	0
Level 2 | Private placement warrants
Financial liabilities:
Warrants liabilities	0.8	2.1
Level 2 | U.S. government and agencies
Financial assets:
Fixed maturities available-for-sale	0	0
Short-term investments	0	9.1
Level 2 | States and other territories
Financial assets:
Fixed maturities available-for-sale	5.4	5.7
Level 2 | Municipal securities
Financial assets:
Fixed maturities available-for-sale	3.1
Level 2 | Corporate securities
Financial assets:
Fixed maturities available-for-sale	41.8	17.1
Level 2 | Foreign securities
Financial assets:
Fixed maturities available-for-sale	0.9	0.9
Level 2 | Residential mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	14.5	10.6
Level 2 | Commercial mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	5.9	4.7
Level 2 | Asset backed securities
Financial assets:
Fixed maturities available-for-sale	10.2	6.6
Level 2 | Money market funds
Financial assets:
Cash equivalents	0	0
Level 2 | Treasury bills
Financial assets:
Cash equivalents	0
Level 3
Financial assets:
Cash equivalents	0	0
Fixed maturities available-for-sale	0	0
Total financial assets	0	0
Financial liabilities:
Contingent consideration liability	12.4	11.6
Total financial liabilities	12.4	11.6
Level 3 | Public warrants
Financial liabilities:
Warrants liabilities	0	0
Level 3 | Private placement warrants
Financial liabilities:
Warrants liabilities	0	0
Level 3 | U.S. government and agencies
Financial assets:
Fixed maturities available-for-sale	0	0
Short-term investments	0	0
Level 3 | States and other territories
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Municipal securities
Financial assets:
Fixed maturities available-for-sale	0
Level 3 | Corporate securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Foreign securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Residential mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Commercial mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Asset backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Money market funds
Financial assets:
Cash equivalents	0	$ 0
Level 3 | Treasury bills
Financial assets:
Cash equivalents	$ 0

Fair Value Measurement - Change

Fair Value Measurement - Changes in Fair Value (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in fair value	$ (2.6)	$ 0
Preferred Stock Warrant
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liability, beginning balance		22.9
Changes in fair value		114.6
Liability, ending balance		137.5
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liability, beginning balance	11.6	12
Payments of contingent consideration	(1.6)	(1.7)
Changes in fair value	2.4	1.3
Liability, ending balance	$ 12.4	11.6
Embedded Derivative Liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liability, beginning balance		113.3
Initial measurement of new derivative		2.8
Changes in fair value		46.5
Liability, ending balance		$ 162.6

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) shares in Millions	6 Months Ended
	Jun. 30, 2021	Aug. 02, 2021 shares
Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Convertible promissory notes, conversion period (in years)	1 month 6 days
Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Convertible promissory notes, conversion period (in years)	2 years 10 months 24 days
Discount rate | Income approach
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Convertible promissory notes, measurement input (as percent)	0.10
Convertible Preferred Stock
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of securities called by warrants or rights (in shares)		2.5
Common Stock
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of securities called by each warrants or rights (in shares)		17.3

Fair Value Measurement - Assump

Fair Value Measurement - Assumptions (Details)	Jun. 30, 2021 $ / shares
Preferred Stock Warrant | Minimum
Temporary Equity [Line Items]
Expected term (in years)	1 year 3 months 18 days
Preferred Stock Warrant | Maximum
Temporary Equity [Line Items]
Expected term (in years)	5 years 8 months 12 days
Preferred Stock Warrant | Expected volatility | Minimum
Temporary Equity [Line Items]
Measurement input	0.266
Preferred Stock Warrant | Expected volatility | Maximum
Temporary Equity [Line Items]
Measurement input	0.291
Preferred Stock Warrant | Risk-free interest rate | Minimum
Temporary Equity [Line Items]
Measurement input	0.001
Preferred Stock Warrant | Risk-free interest rate | Maximum
Temporary Equity [Line Items]
Measurement input	0.011
Preferred Stock Warrant | Expected dividend yield
Temporary Equity [Line Items]
Measurement input	0
Preferred A-2 Stock | Fair value
Temporary Equity [Line Items]
Measurement input	66.64
Preferred A-2 Stock | Exercise price
Temporary Equity [Line Items]
Measurement input	1.57
Preferred C-1 Stock | Fair value
Temporary Equity [Line Items]
Measurement input	66.74
Preferred C-1 Stock | Exercise price
Temporary Equity [Line Items]
Measurement input	11.74

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (10.2)		$ (10.2)		$ (11.2)
Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	39.4		39.4		43.4
Accumulated Amortization	(10.2)		(10.2)		(11.2)
Net Carrying Amount	29.2		29.2		32.2
Amortization expense related to intangible assets	1.1	$ 1.3	3	$ 2.7
State licenses and domain name
Indefinite-lived Intangible Assets [Line Items]
Net Carrying Amount	10.5		$ 10.5		10.5
Agency and carrier relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Life Remaining (in years)			6 years 4 months 24 days
Gross Carrying Amount	13.5		$ 13.5		13.5
Accumulated Amortization	(2.5)		(2.5)		(1.7)
Net Carrying Amount	11		11		11.8
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	(2.5)		$ (2.5)		(1.7)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Life Remaining (in years)			2 years 9 months 18 days
Gross Carrying Amount	13.7		$ 13.7		13.7
Accumulated Amortization	(7.3)		(7.3)		(6)
Net Carrying Amount	6.4		6.4		7.7
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	(7.3)		(7.3)		(6)
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0		0		3.6
Accumulated Amortization	0		0		(2.7)
Net Carrying Amount	0		0		0.9
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	0		0		(2.7)
VOBA
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0		0		0.1
Accumulated Amortization	0		0		(0.1)
Net Carrying Amount	0		0		0
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	0		$ 0		(0.1)
Other
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Life Remaining (in years)			6 years 4 months 24 days
Gross Carrying Amount	1.7		$ 1.7		2
Accumulated Amortization	(0.4)		(0.4)		(0.7)
Net Carrying Amount	1.3		1.3		1.3
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	$ (0.4)		$ (0.4)		$ (0.7)

Capitalized Internal Use Soft_3

Capitalized Internal Use Software (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Research and Development [Abstract]
Capitalized internal use software	$ 46.5		$ 46.5		$ 34.5
Less: accumulated amortization	(12.5)		(12.5)		(8.6)
Total capitalized internal use software	34		34		$ 25.9
Amortization expense	$ 2.1	$ 1.1	$ 3.9	$ 2.1

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 19.4	$ 21.2
Claims receivable	13	24.4
Lease right-of-use assets	$ 20.8	$ 0
Lease right-of-use assets [extensible enumeration]	Other assets	Other assets
Property and equipment	$ 4	$ 1.1
Other	5.3	5.1
Other assets	$ 62.5	$ 51.8

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Claim payments outstanding	$ 27.9	$ 23.2
Lease liability	$ 21.7	$ 0
Lease liability [extensible enumeration]	Total accrued expenses and other liabilities	Total accrued expenses and other liabilities
Advances from customers	$ 14	$ 8.7
Deferred revenue	10.4	11.2
Employee related accruals	6.6	8.5
Premium refund liability	7.5	4.8
Fiduciary liability	3.9	3.7
Contingent consideration liability	12.4	11.6
Other	16.2	23.7
Total accrued expenses and other liabilities	$ 120.6	$ 95.4

Loss and Loss Adjustment Expe_3

Loss and Loss Adjustment Expense Reserves (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of beginning of the period			$ 260.8	$ 105.1
Reinsurance recoverables on unpaid losses and LAE			(217)	(92.1)
Reserve for losses and LAE, net of reinsurance recoverables as of beginning of the period			43.8	13
Add: Incurred losses and LAE, net of reinsurance, related to:
Current year			57.7	39
Prior years			(6)	(0.3)
Total incurred	$ 29.2	$ 21.4	51.7	38.7
Deduct: Loss and LAE payments, net of reinsurance, related to:
Current year			28.2	19.5
Prior year			12.8	5.1
Total paid			41	24.6
Reserve for losses and LAE, net of reinsurance recoverables at end of period	54.5	27.1	54.5	27.1
Add: Reinsurance recoverables on unpaid losses and LAE at end of period	214.3	168.1	214.3	168.1
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of end of the period	268.8	$ 195.2	268.8	$ 195.2
Attritional reserves release	3.5		3.5
Catastrophe reserves release	$ 2.5		$ 2.5

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) reinsurer	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) reinsurer	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Effects of Reinsurance [Line Items]
Loss on uncollectible accounts in period	$ 0	$ 0	$ 0	$ 0
Provision for sliding scale commission	10,400,000		10,400,000		$ 8,600,000
Receivable for sliding scale commission	1,600,000		1,600,000		2,700,000
Provision for loss participation feature	$ 29,400,000		$ 29,400,000		$ 8,300,000
Reinsurance Policy, Type [Axis]: Other Reinsurance - Corporate Catastrophe Excess of Loss Catastrophe Coverage
Effects of Reinsurance [Line Items]
Excess retention, year return period, ratio	0.004		0.004
Reinsurance Policy, Type [Axis]: Other Reinsurance - Corporate Catastrophe Excess of Loss Catastrophe Coverage | Maximum
Effects of Reinsurance [Line Items]
Excess retention, percentage			0.40%
Reinsurance Policy, Type [Axis]: Other Reinsurance - Proportional and Excess of Loss Catastrophe Coverage | Minimum
Effects of Reinsurance [Line Items]
Ceded risk, percentage			75%
Reinsurance Policy, Type [Axis]: Other Reinsurance - Proportional and Excess of Loss Catastrophe Coverage | Maximum
Effects of Reinsurance [Line Items]
Ceded risk, percentage			100%
Reinsurance Policy, Type [Axis]: Proportional Reinsurance Treaties
Effects of Reinsurance [Line Items]
Number of third-party reinsures | reinsurer	2		2
Percentage attributable to program	33%		33%
Agreement term			3 years
Reinsured risk, percentage			10%

Reinsurance - Ceded Reinsurance

Reinsurance - Ceded Reinsurance (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Written premiums
Direct	$ 161.7	$ 129.3	$ 278.8	$ 224.3
Assumed	0.1	(0.7)	0.1	3.4
Gross	161.8	128.6	278.9	227.7
Ceded	(147.2)	(116.4)	(263.6)	(208.4)
Net	14.6	12.2	15.3	19.3
Earned premiums
Direct	128.8	83.9	248.8	154.9
Assumed	0	3.2	0.1	6.6
Gross	128.8	87.1	248.9	161.5
Ceded	(117.6)	(76.9)	(228.7)	(142.5)
Net	11.2	10.2	20.2	19
Loss and LAE incurred
Direct	99	135.7	189.9	276.1
Assumed	2	4.8	2.3	10.1
Gross	101	140.5	192.2	286.2
Ceded	(71.8)	(119.1)	(140.5)	(247.5)
Net	$ 29.2	$ 21.4	$ 51.7	$ 38.7

Geographical Breakdown of Gro_3

Geographical Breakdown of Gross Written Premium (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Gross Written Premium [Line Items]
Amount	$ 161.8	$ 128.6	$ 278.9	$ 227.7
Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	100%	100%	100%	100%
Texas
Gross Written Premium [Line Items]
Amount	$ 43.1	$ 39.9	$ 77	$ 72.9
Texas | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	26.60%	31%	27.60%	32%
California
Gross Written Premium [Line Items]
Amount	$ 31.2	$ 22.8	$ 53.3	$ 41.6
California | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	19.30%	17.70%	19.10%	18.30%
Florida
Gross Written Premium [Line Items]
Amount	$ 15.9	$ 8.6	$ 22.7	$ 14.4
Florida | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	9.80%	6.70%	8.10%	6.30%
Georgia
Gross Written Premium [Line Items]
Amount	$ 7.5	$ 5.6	$ 13.6	$ 9.8
Georgia | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	4.60%	4.40%	4.90%	4.30%
Illinois
Gross Written Premium [Line Items]
Amount	$ 5.9	$ 4.5	$ 9.4	$ 7.6
Illinois | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	3.60%	3.50%	3.40%	3.30%
Colorado
Gross Written Premium [Line Items]
Amount	$ 4	$ 3.1	$ 7.2	$ 5.7
Colorado | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	2.50%	2.40%	2.60%	2.50%
Missouri
Gross Written Premium [Line Items]
Amount	$ 3.6	$ 3.5	$ 6.6	$ 5.9
Missouri | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	2.20%	2.70%	2.40%	2.60%
Arizona
Gross Written Premium [Line Items]
Amount	$ 3.3	$ 2.9	$ 6.4	$ 5.3
Arizona | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	2.10%	2.30%	2.30%	2.30%
Ohio
Gross Written Premium [Line Items]
Amount	$ 3.8	$ 2.8	$ 6.4	$ 4.8
Ohio | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	2.40%	2.20%	2.30%	2.10%
New Jersey
Gross Written Premium [Line Items]
Amount	$ 1.9	$ 2.3	$ 4.5	$ 4.5
New Jersey | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	1.20%	1.80%	1.60%	2%
Other
Gross Written Premium [Line Items]
Amount	$ 41.6	$ 32.6	$ 71.8	$ 55.2
Other | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	25.70%	25.30%	25.70%	24.30%

Commitment and Contingencies (D

Commitment and Contingencies (Details) - Pending Litigation	Nov. 19, 2021 cause
Litigation, Hippo and Chief Executive Officer Named Defendants
Loss Contingencies [Line Items]
Loss contingency, pending causes of action, number	6
Litigation, Hippo Named Defendant Only
Loss Contingencies [Line Items]
Loss contingency, pending causes of action, number	2

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Lessee, operating lease, renewal term	5 years		5 years
Operating lease, expense	$ 1.2		$ 2.2
Operating lease, rent expense		$ 0.7		$ 1.5
Lessee, operating lease, lease not yet commenced, liability	$ 12.3		$ 12.3

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term and Discount Rate (Details)	Jun. 30, 2022
Leases [Abstract]
Weighted average remaining lease term	4 years 2 months 15 days
Weighted average discount rate	4.04%

Leases - Maturity (Details)

Leases - Maturity (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Leases [Abstract]
2022 (Remainder)	$ 2.5
2023	5.6
2024	5.6
2025	5
2026	3.7
Thereafter	0.9
Total undiscounted lease payments	23.3
Less: Imputed interest	(1.6)
Present value of lease payments	$ 21.7	$ 0

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Leases [Abstract]
Cash paid for operating lease liabilities	$ (2)
Right-of-use assets obtained in exchange for new operating liabilities	$ 6

Stockholders_ Equity - Narrativ

Stockholders’ Equity - Narrative (Details)		1 Months Ended	6 Months Ended
	Aug. 02, 2021 USD ($) vote $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000	2,000,000,000		2,000,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Common stock, number of voting rights | vote	1
Aggregate intrinsic value of options exercised | $			$ 3,400,000	$ 52,800,000
Weighted average grant date, fair value (in dollars per share) | $ / shares			$ 0.61	$ 2.86
Exercises in period, forgiveness (in shares)	9,400,000
Exercises in period, forgiveness, intrinsic value | $	$ 94,000,000
Incremental stock option charge, number of shares subject to repurchase (in shares)		1,800,000	1,800,000
Early exercise of stock options liability for unvested awards | $		$ 1,700,000	$ 1,700,000		$ 2,200,000
Number of shares subject to repurchase related to early exercise of stock option (in shares)		1,600,000	1,600,000		2,100,000
The 2019 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent			100%
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	78,000,000
Percentage of issued and outstanding stock, maximum			5%
2021 Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			2 years
2021 Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $		$ 29,200,000	$ 29,200,000
Unrecognized compensation cost, period for recognition			1 year 10 months 24 days
Expected term (in years)			10 years
Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)			5 years	5 years 9 months 18 days
Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)			6 years 8 months 12 days	6 years 1 month 6 days
Options | The 2019 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term period			10 years
Vesting period			4 years
RSU and PRSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $		$ 147,600,000	$ 147,600,000
Unrecognized compensation cost, period for recognition			2 years 7 months 6 days
Expected term (in years)			4 years 1 month 6 days
Granted (in shares)			56,545,065
RSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			2 years
RSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
RSUs | The 2019 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
PRSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		25,200,000
PRSU | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Vesting, percentage of granted amount		0%
PRSU | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Vesting, percentage of granted amount		100%
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent			85%
Number of shares authorized for issuance (in shares)		13,000,000	13,000,000
Percentage of issued and outstanding stock, maximum			1%
Maximum employee subscription amount | $			$ 25,000
Look back feature			6 months
Issued (in shares)			1,100,000
Issued | $			$ 1,600,000

Stockholders_ Equity - Stock Op

Stockholders’ Equity - Stock Option Activity (Details) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Options Outstanding
Outstanding, beginning balance (in shares) | shares	47,538,926
Granted (in shares) | shares	15,639,811
Exercised (in shares) | shares	(2,754,832)
Cancelled/Expired (in shares) | shares	(2,580,600)
Outstanding, ending balance (in shares) | shares	57,843,305	47,538,926
Vested and exercisable (in shares) | shares	20,815,734
Weighted Average Exercise Price
Outstanding, beginning balance (in dollar per share) | $ / shares	$ 1.39
Granted (in dollars per share) | $ / shares	1.80
Exercised (in dollars per share) | $ / shares	0.62
Cancelled/Expired (in dollars per share) | $ / shares	1.56
Outstanding, ending balance (in dollar per share) | $ / shares	1.47	$ 1.39
Vested and exercisable (in dollars per share) | $ / shares	$ 1.04
Additional Disclosures
Outstanding, weighted-average remaining, contract term (in years)	8 years 4 months 9 days	8 years 3 months 18 days
Outstanding, aggregate intrinsic value | $	$ 4.9	$ 84.8
Vested and exercisable, weighted-average remaining, contract term (in years)	7 years 7 months 13 days
Vested and exercisable, aggregate intrinsic value | $	$ 3.3

Stockholders_ Equity - Stock _2

Stockholders’ Equity - Stock Option Assumptions (Details) - Options	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	10 years
Expected volatility, minimum	29.60%	29.70%
Expected volatility, maximum	30.90%	30.10%
Risk-free interest rate, minimum	2.60%	0.60%
Risk-free interest rate, maximum	3%	1%
Expected dividend yield	0%	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years	5 years 9 months 18 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 8 months 12 days	6 years 1 month 6 days

Stockholders_ Equity - Restrict

Stockholders’ Equity - Restricted Stock Units and Performance Restricted Stock Units Assumptions (Details) - RSU and PRSU	6 Months Ended
	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	4 years 1 month 6 days
Expected volatility	95%
Risk-free interest rate	2.90%
Expected dividend yield	0%

Stockholders_ Equity - Restri_2

Stockholders’ Equity - Restricted Stock Units and Performance Restricted Stock Units Activity (Details) - RSU and PRSU	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Shares
Unvested and outstanding, beginning balance (in shares) | shares	28,939,349
Granted (in shares) | shares	56,545,065
Released (in shares) | shares	(4,777,767)
Canceled and forfeited (in shares) | shares	(3,340,510)
Unvested and outstanding, ending balance (in shares) | shares	77,366,137
Weighted Average Grant-Date Fair Value per Share
Unvested and outstanding, beginning balance (in dollars per share) | $ / shares	$ 3.99
Granted (in dollars per share) | $ / shares	1.40
Vested (in dollars per share) | $ / shares	3.67
Canceled and forfeited (in dollars per share) | $ / shares	3.51
Unvested and outstanding, ending balance (in dollars per share) | $ / shares	$ 2.14

Stockholders_ Equity - Share-ba

Stockholders’ Equity - Share-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 15.9	$ 2.8	$ 29.3	$ 5.3
Losses and loss adjustment expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1	0.1	1.6	0.1
Insurance related expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1.2	0	2.5	0.1
Technology and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	5.8	0.5	11.1	1
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3.1	1.2	5.4	2.1
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 4.8	$ 1	$ 8.7	$ 2

Income Taxes (Details)

Income Taxes (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	(0.40%)	(0.10%)
Unrecognized tax benefits	$ 1,400,000	$ 0
Income tax interest or penalties incurred	$ 0	$ 0

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Computation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss attributable to Hippo - basic	$ (73.5)	$ (84.5)	$ (141.1)	$ (279.8)
Net loss attributable to Hippo - diluted	$ (73.5)	$ (84.5)	$ (141.1)	$ (279.8)
Weighted-average shares used in computing net loss per share attributable to Hippo - basic (in shares)	566,107,642	98,295,275	563,876,248	97,139,194
Weighted-average shares used in computing net loss per share attributable to Hippo - diluted (in shares)	566,107,642	98,295,275	563,876,248	97,139,194
Net loss per share attributable to Hippo - basic (in dollars per share)	$ (0.13)	$ (0.86)	$ (0.25)	$ (2.88)
Net loss per share attributable to Hippo - diluted (in dollars per share)	$ (0.13)	$ (0.86)	$ (0.25)	$ (2.88)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Antidilutive Securities (Details) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	147,613,675	586,520,181
Convertible preferred stock (on an as if converted basis)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	305,887,443
Outstanding options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	57,843,305	67,747,921
Warrants to purchase common shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	9,000,000	33,384,616
Warrants to purchase preferred shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	17,344,906
Common stock subject to repurchase
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,404,233	11,917,343
RSU and PRSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	77,366,137	0
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	150,237,952