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Kin insurance review 2023

Updated Mar 09, 2023
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At a glance

Rating: 2.6 stars out of 5
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Rating: 2.6 stars out of 5


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Cost & ratings

Rating: 2.3 stars out of 5



Rating: 4 stars out of 5



Rating: 1 stars out of 5


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Bottom Line

Kin could be a good choice for homeowners in Florida or Louisiana who appreciate an inventive new take on home insurance rating. Although Kin is a newer home insurance company founded in 2016, the carrier’s groundbreaking approach to underwriting homeowners insurance may draw the attention of consumers and industry observers.

  • Available in Florida and Louisiana, where property coverage may be difficult to find

  • Innovative rating method

  • Numerous discounts

  • Only available in two states

  • Few third-party scores

  • No mobile app

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What’s new with Kin?
  • In October 2022, Kin closed a deal for $145 million in debt financing to serve as additional capital. This will allow Kin to continue its growth and potentially become available in more states. The money will be given to Kin in installments as the company reaches certain milestones.
  • Kin was previously available in California, but the company is not currently active for new business in the state. While Kin’s website does say coverage is expanding, there’s no timeline listed for when Kin home insurance will be offered again in California.

Kin home insurance

Kin could be a good choice for Florida and Louisiana homeowners looking for an insurance company that does things differently. Homeowners in these states often pay high premiums due to the risk of widespread storm damage, and Kin offers a unique solution to help find coverage. Kin’s underwriting approach includes data that other insurance providers typically overlook, including property records, permit data and aerial imagery. Kin also considers the more standard data points, such as roof characteristics, construction type and location, which, when combined, make its quoting algorithm unique. Kin’s approach to quoting helps it offer affordable coverage for homeowners in Florida and Louisiana. In fact, the company claims that customers save an average of $500–$780 when switching their home policies to Kin from more traditional insurers. And what’s more, Kin offers replacement cost policies (compared to actual cash value policies), so if your home or belongings are damaged, you may get the full replacement cost with this coverage.

Many third-party ranking companies like J.D. Power and AM Best have yet to assign a score or rating to Kin, and because we use these data points in our own scoring method, the lack of third-party information affected our Bankrate Score. If you value a more traditional approach to insurance, Kin may not be the best choice, but if you’re willing to try something a little different, you may find that Kin’s home insurance fits your needs.

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Pros and cons of Kin homeowners insurance

When you’re shopping for the best home insurance company for your needs, it can be helpful to compare quotes and other features of each insurer. During our Kin Insurance review, we identified these pros and cons that you might want to consider:


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    Unique rating structure

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    Available in high-risk states

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    Numerous discounts to help lower your premium


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    Limited state availability

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    No mobile app

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    Limited third-party ratings and reviews

Kin home insurance cost

Nationally, home insurance costs $1,428 per year for $250,000 in dwelling coverage. Rates aren’t available for Kin, but Florida’s average premium is $1,981 and Louisiana’s is $1,992 for the same amount of coverage. Your rates will vary based on the features of your home, your coverage amount, your claims history and the company you choose.

Kin home insurance discounts

Kin offers a variety of discounts that may help you save on your premium and get cheaper home insurance. While you may see discounts common within the industry — including a claims-free discount, a security alarm discount and a discount for paying electronically — Kin offers a few unique discounts as well:

As with any company, discount eligibility and qualifications vary. Getting a quote from Kin is the best way to know what discounts you’re eligible for.

Kin home tools and benefits

One of Kin’s most unique features is its flood insurance program. Standard home insurance policies do not cover damage caused by flooding, and homeowners generally have to purchase a separate flood insurance policy. However, Kin offers flood insurance as an endorsement to its home insurance policies. Because flood damage can be common in the coastal states where Kin currently operates, this coverage add-on could be impactful for many homeowners.

Kin also has software that monitors weather systems and can help determine which homes are most likely to be damaged by a storm. If your home is flagged for potential damage, Kin may reach out to you directly. You can then inspect your home and file a claim if necessary.

Kin customer satisfaction

Understanding a company’s level of service is important in determining if a carrier will meet your needs. Third-party rating agencies offer an impartial view of the level of satisfaction with a company. J.D. Power conducts annual studies reviewing service and claims satisfaction in the insurance industry, for example, and the National Association of Insurance Commissioners (NAIC) tracks complaints and assigns companies a complaint index. Financial strength is an important consideration as well. Companies like AM Best and Demotech analyze the finances of various companies and assign a financial strength rating. This rating reflects an insurance company’s historical ability to pay claims, which might give you peace of mind that the company will financially support you after you sustain damage.

Kin homeowners satisfaction

Kin is a smaller insurance company, which means that many third-party rating companies haven’t ranked it. J.D. Power didn’t include Kin in either its Home Insurance Study or its Property Insurance Claims Satisfaction Study, which ranks companies on their level of service in a number of areas. AM Best similarly doesn’t rate Kin for financial strength. Kin isn’t totally without third-party ratings, though. The NAIC recorded 21 complaints for Kin in 2021 and gave the company’s home insurance product a complaint index of 1.25. A 1.00 index is the baseline number of complaints, so Kin did have a higher level of customer dissatisfaction than the NAIC would have expected.

Demotech — another financial strength rating company — gives Kin an A (Exceptional) financial stability rating, the third-highest rating that Demotech gives. It means that Demotech has historically had a fairly strong confidence in Kin’s ability to pay claims, which is important in states like Florida and Louisiana, where hurricanes and other strong storms can cause widespread damage and a large influx of claims at one time.

How to file a claim with Kin

Kin’s claims process is relatively unique among insurers. While you can file a claim in a more traditional way — we review that below — Kin uniquely uses technology to monitor homes in the path of storms. Its process is so specific that it can pinpoint houses that may have sustained damage. Kin then contacts its policyholders proactively, warning them that they may have damage and asking them to inspect their homes. This process can help customers identify damage early, which allows them to prevent the damage from spreading. This, in turn, helps save Kin money in claims payments and also lowers the risk of predatory and fraudulent claims being filed.

If you need to report a claim to Kin, you can:

Once your claim has been filed, your claims specialist will contact you to review the loss. They’ll then do some research into the damage and your policy, determine if you have coverage and release a payment to you if applicable.

Kin availability

Kin is currently only available in Florida and Louisiana. The company previously wrote policies in California, too, which means you’ll see some California-specific information on its website, like discounts that apply to California or a California payment address. Kin is not currently offering new home policies in the Golden State, but it does note that it is expanding, so coverage may be available again in the future.


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Other Kin perks worth considering

In addition to home insurance, Kin also offers insurance coverage for:

  • Mobile homes: Mobile homes can be riskier to insure due to the increased likelihood of wind damage. Finding coverage for mobile homes in wind-prone states can be tough, but Kin offers a solution.
  • Condos: If you own a condo, you’ll need an HO-6 policy, which is a special type of home insurance geared specifically toward condo owners.
  • Rental homes: Landlords who own and rent homes might be interested in Kin’s landlord policies. These policies provide coverage for the structure of the home as well as liability coverage for injuries for which the landlord is liable.

Kin corporate sustainability

Kin does not list information about giveback programs on its website. However, the fact that Kin operates solely in the high-risk states of Louisiana and Florida (where the home insurance market may be on the brink of collapse) is, in a way, a social responsibility. Especially in Florida, homeowners may struggle to find insurance coverage, and Kin provides a potential solution.

If you’re interested in Kin but not sure it’s the quite right for you, you might want to also get quotes from these companies:

Kin vs. Progressive

If you’re looking for a company familiar with selling insurance in high-risk areas, Progressive — which sells home insurance through American Strategic Insurance (ASI) — may be an option worth considering. The company began in the Sunshine State and today sells insurance in 40 states, including Florida and Louisiana. ASI’s rating model is more standard than Kin’s, though, so if you are looking for a company that is shaking up the industry, Kin may be the better choice.

Learn more: Progressive Insurance review

Kin vs. Tower Hill

If you live in Florida, Tower Hill could be a good option. The company was founded in and is based in the Sunshine State, which means its agents may be more familiar with the unique needs of Florida homeowners. Tower Hill offers robust coverage options and policies tailored to high-value homes, and the company also offers flood insurance as a home endorsement, a separate policy or through the National Flood Insurance Program (NFIP). However, Tower Hill is a more traditional carrier and doesn’t have a website quite as robust and functional as Kin’s.

Learn more: Tower Hill Insurance review

Kin vs. State Farm

If you’re in the market for a more traditional insurance company, State Farm could be a good choice. Coverage is sold through a network of local agents, so it could also be a good choice if you prefer to handle your insurance needs face-to-face. State Farm, like many property insurance companies, may fall short when it comes to insuring riskier areas in Florida and Louisiana. If you live in a coastal area and are struggling to find coverage, companies like Kin that specialize in higher risk areas may be worth considering.

Learn more: State Farm Insurance review

Is Kin a good insurance company?

Kin may be a good insurance company for Florida and Louisiana homeowners. These states are historically risky, which can make home insurance coverage difficult to find. Additionally, both states are dealing with a challenging home insurance market right now, which can make shopping for home insurance particularly challenging. Kin offers not only a solution to help homeowners in these areas get coverage, but also provides a unique and innovative way of rating policies. However, Kin does have limited state availability and only a few third-party reviews. You may want to talk to current policyholders about their experience before committing to a policy.

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Bankrate utilizes Quadrant Information Services to analyze 2023 current rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $250,000
  • Coverage B, Other Structures: $25,000
  • Coverage C, Personal Property: $125,000
  • Coverage D, Loss of Use: $50,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Score

Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.