Kin Launches Condo and Flood Insurance Options for California Homeowners
Kin has introduced two new insurance options—condo (HO6) coverage and a flood add-on—for California homeowners, expanding its commitment to the state following major insurers' retreat after catastrophic wildfires in January 2025. The company aims to fill gaps left by traditional providers who have limited or stopped writing policies for high-risk areas, including condos and properties exposed to flooding. Kin's offerings are designed to help underserved groups such as new buyers, owners of short-term rentals like Airbnb hosts, those in wildfire-prone regions, and homeowners with outdated electrical systems. The company evaluates coverage based on mitigation efforts rather than blanket risk assessments, offering a more tailored approach. With over 684,000 Californians relying on the limited FAIR Plan due to lack of alternatives, Kin's expansion is seen as addressing critical market needs. California faces significant flood risks from inland sources like heavy rainfall and riverine flooding, yet only about one-quarter of those in high-risk zones have coverage. FEMA data estimates annual losses at $11.73 billion, with most risk stemming from non-coastal areas.
