While only available in a handful of states, Kin Insurance offers affordable basic homeowners coverage in many high-risk areas.
Kin is a tech-savvy new home insurance company that provides coverage in risk-prone areas. Founded in 2016 and based in Chicago, Kin is unique in that the primary states in which it sells policies are prone to hurricanes, wildfires, and other severe weather events. Kin prides itself on offering affordable home insurance coverage in states where many insurers are reticent to write policies. While still only selling coverage in a handful of states, the company claims the average homeowner can save up to $500 by switching to Kin.
In our review of Kin’s homeowners insurance, we’ll detail coverage options, discounts, and other notable standouts so that you know what to expect as a Kin client.
At present, homeowners insurance is the primary product available from Kin. Out of the gate, consumers should know that Kin Insurance is not for everyone, not least because the company's policies are only available in a handful of states. The company specializes in homeowners insurance for high-risk areas prone to floods and hurricanes. This sets Kin apart from the onset, as many major insurance companies tend to be more risk-averse and write fewer policies in such areas. For those struggling to find coverage in high-risk areas, Kin Insurance may be a good option for basic coverage.
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Kin is currently only available in Alabama, California, Georgia, Florida and Texas.
Kin relies heavily on data in order to generate your quote. Beginning with your address, Kin pulls property records, real-estate listings, and satellite imagery when determining your rates. Those, along with your own personal information are used to provide a quote.
All of the standard home insurance coverages can be found at Kin, including coverage for your dwelling, other structures, personal property, personal liability, loss of use, and medical payments. Unlike most insurance companies, Kin only offers insurance based on replacement cost rather than actual cash value, which deducts depreciation from your claim payout. This is beneficial in the event you suffer covered property damage, as it will ensure you get the full amount required to replace what you lost.
Kin offers HO-3 home insurance policies for typical homes — the most common type — but also offers:
Kin does not offer many endorsements or riders to supplement home insurance with additional coverage. Detailed below are two optional coverages offered by Kin. Note: these can be easily found with most other carriers.
As an insurance carrier willing to face the risks of insuring clients in coastal regions or potentially hazardous areas vulnerable to natural disasters, Kin conveniently also offers flood insurance as an endorsement — but only in the state of Florida. This private flood insurance option is independent of the National Flood Insurance Program (NFIP), the typical default option for most homeowners seeking flood insurance.
Like many private flood insurance policies, Kin’s flood coverage waives the 30-day waiting period and covers your property (dwelling, other structures, and personal property) up to your specific coverage limits. By comparison, flood insurance through the NFIP covers up to a maximum of $250,000 for your dwelling and $100,000 for your personal property. If the value of your home and property surpasses the NFIP’s limits, a private flood policy is the best way to protect your home from flood damage.
While hurricane-specific insurance doesn’t exist, wind and hail coverage is part of a standard homeowners policy. In states that have separate hurricane deductibles, Kin lets policyholders choose between the typical amounts: between 1% and 10% of your dwelling coverage or a flat rate, depending on your state’s regulations.
Kin offers homeowners insurance policies in the state of California, a state more susceptible to wildfires than most. While Kin's policies do cover wildfires, there are some perils that could result from such fires that may not be covered. For instance, flooding or mudslides are excluded from most policies.
Staying competitive with discounts found at other home insurance providers, Kin offers the following cost-cutting measures for policyholders. These discounts may vary by state.
Kin’s pillar insurance product is homeowners insurance, but the company offers other property-specific coverages:
To cancel your Kin Insurance policy, contact the company's customer service department at (855) 717-0022.
Being a tech-focused insurance company, most customer interaction will occur online. One of Kin's biggest strengths is its online quoting platform, which takes into account not only the personal details of customers but also the risk level of the property being insured. They do this by accessing satellite and drone imagery as well as historical data to assess the level of risk for your home.
Customers can expect many of the typical functions available from most home insurance websites, including the following:
Despite being an insurtech startup, Kin Insurance does not have a mobile app at this time.
If you don’t need more than the standard amount of homeowners insurance and live in a state where Kin offers coverage, Kin could be a great option with affordable insurance rates. Considering that they specialize in states that are considered higher-risk — which comes with pricier home insurance rates — it may be a smart decision to choose an insurer like Kin that is familiar with these hazards. Conveniently, you can add a flood insurance endorsement to your home policy for some extra peace of mind, without having to deal with a second monthly insurance bill.
Customer reviews from sites like Trust Pilot and Google trend overwhelmingly positive for Kin. However, they are not yet rated on their financial strength and overall customer experience by reputable organizations like AM Best and J.D. Power. This may change as this company becomes more established in the insurance space, but it’s something to keep in mind while you’re shopping.
If you’re curious about other options for home insurance, use The Zebra's comparison tool to compare quotes instantly. Enter your ZIP code below to get started.
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