Kin Home Insurance Review: Cheap Rates Coupled With Maximum Convenience

Kin Home Insurance Review: Cheap Rates Coupled With Maximum Convenience

Editor's Rating

Most insurers force you to choose between cheap home insurance rates or great service, however, that simply isn't the case with Kin Insurance.

Good for

  • People who want to get homeowners insurance quotes in a matter of minutes
  • Cheap, basic homeowners insurance coverage

Bad for

  • Anyone who wants to bundle multiple insurance policies
  • Homeowners who want to speak with an agent in person
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Editor's Rating

Most insurers force you to choose between cheap home insurance rates or great service, however, that simply isn't the case with Kin Insurance.

Good for

  • People who want to get homeowners insurance quotes in a matter of minutes
  • Cheap, basic homeowners insurance coverage

Bad for

  • Anyone who wants to bundle multiple insurance policies
  • Homeowners who want to speak with an agent in person
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Kin Insurance offers affordable, convenient insurance for homeowners. Besides providing standard home coverage, Kin specializes in areas that are often harder to insure, such as mobile homes and flood insurance. While Kin's lack of auto insurance options will disappoint shoppers looking to save by bundling, it's still a great choice if you prefer to avoid the long hold times and exhaustive questioning that many other insurers put you through.

Kin Insurance: Quick quotes and competitive rates

Kin's number one value proposition for homeowners is its unparalleled convenience. All that's required to get a quote from Kin is your physical address and email. Other insurance companies often require you to answer dozens of additional questions before delivering a quote. Furthermore, Kin Insurance provides easy-to-understand explanations for each coverage, saving you the hassle of going back and forth with an agent for questions you may have.

If you do need personalized assistance from an agent, Kin Insurance offers that via the chat function on its website. While many insurance customers experience long wait times on the phone with traditional insurers, Kin's use of the chat platform makes the process faster and less painful.

Where is Kin Insurance available?

  • Alabama
  • Florida
  • Georgia
  • Illinois
  • Texas

The main drawbacks with Kin are its limited availability and its lack of insurance products other than homeowners coverage. The company only offers homeowners insurance in a few states, and it's not possible to bundle your home and car insurance with Kin — a tactic that usually lowers the premium for both policies.

Kin home insurance coverage

While Kin Insurance is a relatively new home insurance provider, it offers all of the standard coverage options for dwelling, personal property and personal liability. However, Kin is unique in that all of its policies provide replacement cost coverage as opposed to actual cash value. This means that if you have to file a claim, you'll be reimbursed for the total cost of your loss with no deduction for depreciation, which could potentially save you thousands of dollars.

Another thing that sets Kin apart is its willingness to provide types of home insurance that traditional companies often won't. Kin has chosen to start its business in high-risk hurricane states on or near the Gulf Coast, and it writes policies for mobile home owners and flood insurance — both categories which involve greater risk of loss.

Kin Insurance doesn't have the longest list of endorsements for policyholders to choose from, but it isn't missing anything critical. If you're looking for a highly specific coverage, then consider a Progressive home insurance policy. A couple of Kin Insurance's most notable endorsements and its standard coverages are listed below.

Identity Fraud Expense: Consider adding this optional coverage if you're concerned about becoming a victim of identity theft. The endorsement covers expenses associated with your identity being compromised, such as attorney expenses, credit report costs and notary fees. Identity fraud expense coverage also connects you to an identity fraud specialist who will work with you to restore your identity.

Scheduled Property: While a standard homeowners insurance policy typically provides coverage for valuable items, like jewelry or antiques, these items are only covered up to a certain limit. This optional coverage allows you to increase the limit on certain valuable items. Therefore, if you have personal items that are worth more than $1,500, we recommend adding this coverage to your homeowners insurance policy.

Standard Coverage Options Available Through Kin Insurance

What's Covered by a Kin Insurance Policy?
Details
Your HomeThis portion of your Kin Insurance policy would pay for repairing or rebuilding your home's physical structure should it suffer damage from a covered peril.
Other StructuresYour home insurance policy also covers detached structures, such as a garage or your fence.
Your Personal ItemsDamage, destruction or the theft of your personal possessions would also be covered under your home insurance policy.
Loss of UseReimburses you for the increased expenses associated with living away from home after a covered loss.
Personal LiabilityProtects you from claims made against you for things such as property damage.
Medical PaymentsCovers medical bills if someone suffers an injury on your property.
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Kin Insurance Rates and Discounts

Kin Insurance offers its policyholders some of the cheapest home insurance quotes available when compared to other well-established insurance companies, like Allstate and Amica. This is the case across several policy limits, as highlighted by our sample below. Despite our findings, it's always best to shop around and compare rates among different insurance companies given that rates can vary widely, particularly from state to state.

Kin Home Insurance Quotes

When you sign up for a Kin Insurance policy online, the company's quoting system will automatically search for applicable discounts for you. Beyond common premium reductions like those based on your home's location, Kin Insurance has active partnerships with three companies to provide further savings.

FLO: FLO is a water leak detection system that can be installed onto your main water line and can alert you of any irregularities in your water consumption. The system can shut off your water supply in the event of an emergency, like a burst water pipe. Kin Insurance policyholders receive the system for free, and if they install it, they are also eligible for a $50 annual discount on their homeowners insurance policies.

LiveWatch: LiveWatch is a home security system that can also monitor your home for fire and carbon monoxide. Kin Insurance's policyholders receive the system for free. Installing the system also makes policyholders eligible for savings of approximately $100 per year on their home insurance policies.

MyStrongHome: MyStrongHome provides Kin Insurance policyholders with financing for a new roof or better opening protection. While MyStrongHome isn't necessarily a discount, it provides financing for home improvements that often lead to more affordable home insurance quotes.

Kin Home Insurance Reviews and Financial Strength

Kin Home Insurance reviews are overwhelmingly positive. Reviews persistently rave about Kin Insurance's excellent rates and its personable agents, which can be reached by email, online chat or phone. Some homeowners might have second thoughts about insuring their homes with a startup, due to limited insight into the company's financial standing and its ability to pay customer claims. However, prospective Kin Insurance policyholders can rest easy, as the company is actually an insurance agency. Its partner, Velocity Risk Underwriters, underwrites Kin Insurance's policies. A.M. Best, a leading insurance rating agency, assigned Velocity's insurers an A rating for their financial strength. The A rating is one of the highest ratings available and signifies that the company is more than capable of meeting its financial obligations.

Joe Resendiz

Joe Resendiz is a former investment banking analyst for Goldman Sachs, where he covered public sector and infrastructure financing. During his time on Wall Street, Joe worked closely with the debt capital markets team, which allowed him to gain unique insights into the credit market. Joe is currently a research analyst who covers credit cards and the payments industry. He earned a bachelor’s degree from the University of Texas at Austin, where he majored in finance.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.