Homeowners insurance is designed to protect your home from disasters. It gives you peace of mind knowing that your home and finances are covered from any form of loss. With the right homeowners insurance, you don't have to cover the full costs of replacing or repairing your home if it is damaged by a covered event. Most homeowners insurance policies will cover common perils like fire/smoke damage, hurricanes, lightning, theft, hail, and water damage. There are many homeowners insurance providers in the US with impressive homeowners policies, but only a handful provide bonuses and discounts that will meet your needs. One of them is Kin Insurance.
Founded in 2016, Kin is a home insurance company that provides affordable homeowners coverage to individuals living in catastrophe-prone regions like California and Florida. Though it is a fairly new insurance provider, it already holds an A – Exceptional financial stability rating from Demotech, Inc. This indicates that the company has the financial strength to pay out customers’ claims.
Kin Insurance provides basic coverage plans and several additional coverage plans for special items. For areas like California, where home-wreaking catastrophes are common, its insurance premium costs just $1,188 a year on average. In Florida where hurricanes are a common sight and a big problem to homeowners, insurance premiums for homeowners coverage are lower at about $1,091 a year on average.
DwellingCoverage – This coverage is a major part of a standard homeowner’s insurance policy. This plan will cover the costs of repairs or rebuilding your home’s physical structure if it gets damaged by a covered incident. This includes the walls, roofs, floors, support beams, windows, and foundation. In this plan, you will be offered either replacement cost coverage or actual cash value coverage. If you want to claim the exact costs of repairing or rebuilding your home at the current market rate then replacement cost dwelling coverage would be the best option. However, it would cost you more.
Other Structures Coverage – This plan covers other structures not attached to your main house but still a part of your property. This includes detached garages, fences, sheds, swimming pools, driveways, gazebos, barns, guest cottages, and greenhouses. This coverage takes up 10% of your standard policy.
Personal Property Coverage – This plan will cover the cost of repairing or replacing your possessions. This covers your personal belongings regardless of where they are. You can include things like clothing, furniture, electronics (laptops, TV, cameras, etc), jewelry, appliances, and recreational gear in this coverage plan.
Loss of Use Insurance – If a covered event makes your home unlivable, this plan will pay for your additional living expenses. This covers costs like renting a place to stay, buying groceries, doing laundry, and eating at restaurants. This coverage will kick in only if your home becomes uninhabitable due to a covered peril. It won’t be applicable if other events force you to live out of your home for a while.
Personal Liability Insurance – If you get sued, this plan will protect you against legal expenses. If your guest or neighbor gets injured on your property or losses their property due to your actions and they file a lawsuit against you, this plan will kick in and pay for your legal fees. It will also cover the injured party’s medical expenses and pay for the repair or replacement costs of the person’s damaged property.
Medical Payments Insurance – If you’re a homeowner and you regularly host parties or have guests over, you might want to consider adding this coverage to your overall policy. This plan will pay for small injuries that happen to guests on your property. It will kick in regardless of who is at fault and protect you from lawsuits by resolving smaller claims as quickly as possible.
Applying for Kin homeowners’ insurance could help you save an average of $500 on homeowners’ insurance. The application process is also very easy. Before signing up for a quote, you should take note of the value of your home and the possessions you want to include in your insurance policy. With that done, you can go ahead and apply for homeowners insurance by following the steps below:
Go to the Kin Homeowners Insurance official page.
Type in your home address in the box provided.
Enter your personal information and your home details.
With your quote all set up, you can finalize and purchase the plan.