Insurance
Home›Insurance›Property Insurance›Kin adds condo and flood coverage options for Californ…
Kin adds condo and flood coverage options for California homeowners
The new options add endorsements to existing policies, helping address the lack of flood coverage in high-risk areas after California wildfires.
Kin is expanding its California homeowners insurance offerings with two new coverage options, condo insurance and flood coverage, as the state’s property insurance market remains difficult after recent wildfire losses, Reinsurance News reports.
The company said its condo options are designed for individuals often turned away by the broader market, including new homebuyers, homes in distressed or wildfire-prone zones, and properties with coverage lapses or substandard electrical panels, as well as short-term rental operations such as Airbnb and VRBO.
Kin also said its review process treats wildfire-exposed properties differently based on specific mitigation steps already taken by homeowners, including creating defensible-space clearance and installing fire and water protective devices.
On flood coverage, the article notes that overland flooding is typically excluded from standard home insurance policies, citing that more than 7 million Californians live in areas facing significant flood risks and that only about a quarter of those in high-risk zones have coverage, and it adds that Kin’s flood endorsement can be added to eligible homeowners’ existing policies without a separate policy through the National Flood Insurance Program.