Home insurance is an investment that you hope you never have to use but when you do, you’re glad you had coverage in the first place. That’s because it prevents you from paying out of pocket for unexpected damages to your home, related structures and belongings.
Below, we provide a review of homeowners insurance provider Kin, including its coverage offerings, discounts and any other features you need to know about.
Kin homeowners insurance review
Kin Homeowners Insurance
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Cost
The best way to estimate your cost is to get a personalized quote
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Maximum coverage
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App available
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Policy highlights
Policy covers your home and property for damages caused by fire/smoke, hurricanes, hail, lightening, theft, water damage from burst pipes, vandalism, civil unrest, explosions, falling objects, power surges and damage caused by vehicles
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Does not cover
Earthquakes, flood, general wear and tear, lack of regular maintenance and business liability — see here for more information
Pros
- According to the website, customers who switched to Kin save $730 a year on average, however, pricing isn’t disclosed online
- Offers a 5% home insurance discount for LEED-certified homes in California. Also offers a discount for having a security system installed
- Can submit claims online or over the phone
Cons
- Only available in 7 states
- No mobile app available
Overview
Kin is an insurance company founded in 2016 that’s carved a niche for itself as providing homeowners insurance in states where coverage is difficult to obtain because of the higher likelihood of natural disasters.
While Kin prides itself on the ethos of providing affordable homeowners insurance, it doesn’t actually disclose any of its pricing on the website, so the best way for potential customers to gauge the pricing would be to apply for a personalized quote. Kin’s website claims that its customers report saving an average of $730 per year after switching to Kin from another insurance provider.
The Net Promoter Score (NPS) is a measure of customer experience and loyalty to a particular brand. It’s scored using a range between -100 and +100 with ratings closer to +100 being the most desirable ratings. According to Kin, the average Net Promoter Score within the home insurance industry is just 42, but the company’s score sits way above average at 81. This indicates that customers enjoy the brand and service.
Upon first glance, Kin offers home insurance, vacation home insurance, condo insurance and mobile home insurance, as well as flood insurance and insurance for landlords who rent out long-term or short-term properties.
Discounts
Kin offers a number of discounts, but some of them are only available in certain locations or for certain types of homes.
Homeowners in Florida
- Having fire, water and security devices installed in the home
- Installing features for wind mitigation, since wind damage is very common
- Responsible Repair discounts are available to those who agree not to sign an “assignment of benefits” form, which gives claims rights to a third party (like a restoration company that may ask to deal directly with the insurance company without your involvement)
- Claims-free discounts are fairly standard in the industry and can occur as a result of you not filing any claims over a certain period of time
- Managing your policy online
- Living in what Kin considers a secured community (such as a gated community)
Homeowners in California
- Having ember-resistant venting, which prevents embers and flames from entering a home when there’s a wildfire
- Having an annual brush removal contract
- Defensible space compliant (having adequate space between your home’s structure and surrounding areas)
- Having a LEED-certified home
- Installing Smart home safety and security devices
- Being part of a homeowners association
- You’re a new homebuyer
- Being claims-free
- Having an accredited builder
Owners of mobile homes
- Having fire, water and security devices installed
- Being a mature homeowner
- Being claims-free
- Managing your policy online
- Having the mobile home be located in a community
Having discounts specific to your geography and living situation can be appealing, but other insurers offer a more expansive array of universal discounts.
Other insurance offered
Kin offers six types of insurance coverage: Vacation home insurance, home insurance, condo insurance, mobile home insurance, flood insurance and landlord insurance.
Unlike Kin, however, other insurers also offer auto insurance, RV insurance, renters insurance, life insurance and even motorcycle insurance. So if you’re hoping to bundle together the insurance for your home and car, you’ll have to look for another provider.
How it compares
Kin is currently only available in seven states so if you don’t live in Alabama, Arizona, Florida, Louisiana, Mississippi, South Carolina or Virginia, you won’t be eligible for this insurance. Other insurers, like Cincinnati Insurance, offer more expansive coverage. Cincinnati Insurance offers coverage in all states except for Alaska, Louisiana, Mississippi, Oklahoma and South Dakota.
Cincinnati Insurance Homeowners Insurance
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Cost
The best way to estimate your costs is to request a quote
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Maximum coverage
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App available
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Policy highlights
Cincinnati Insurance offers coverage that can be tailored to fit your needs with two different levels of homeowners insurance policies, including a policy with extra coverage for high-value homes. It’s widely available across the US, and offers a variety of riders and other insurance policies.
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Does not cover
Flooding and earthquakes, identity theft, high-value items (these can all be purchased as add-ons for extra coverage)
Pros
- Available in all states except for Alaska, Louisiana, Mississippi, Oklahoma, South Dakota.
Cons
- Online quotes aren’t available
As we mentioned before, Kin does offer some policy discounts for specific geographic locations and living situations. But other insurers offer a wider array of discounts for policyholders regardless of their location. Farmers Insurance, for instance, advertises an impressive 22 discounts.
Farmers Homeowners Insurance
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Cost
The best way to estimate your costs is to submit your information for a quote
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Maximum coverage
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App available
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Policy highlights
Policy covers your home and property damages, personal liability and loss of use
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Does not cover
Damage resulting from earth movement, water, nuclear hazard, failure to make repairs, war and fungi — see here for the complete list; contact a Farmers Insurance agent for a list of any exclusions specific to your state
Pros
- Many discounts available
- Variety of customization options
- Positive customer reviews
Cons
- Higher premiums
- Not available in all states
Bottom line
If you live in one of the seven states where Kin offers coverage, the best way to gauge how much you’ll pay for homeowners insurance is to get a personalized quote. Kin claims to have high levels of customer satisfaction and, with major insurers pulling out of states where Kin operates, this newer player may be worth a look if you’re scrambling for a policy.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every homeowners insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of homeowners insurance products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best homeowners insurance providers.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.