ST. PETERSBURG — Gulf Coast homeowners have a new option for flood insurance with the arrival of Chicago-based Kin Insurance, which recently expanded coverage to Florida and opened an office in St. Petersburg.
Kin’s coverage, a press release states, is available via its Kin Interinsurance Network and can be tailored to fit homes in low-, moderate- and high-risk areas.
“Flood coverage provides critical protection, and every Florida homeowner should consider purchasing it, especially since the majority of Florida’s homeowners do not currently have flood coverage,” said Angel Conlin, Kin’s St. Petersburg-based chief legal officer. “In general, many U.S. homeowners mistakenly assume that flood coverage is provided in standard homeowners policies when it is not.”
According to the release, the Insurance Information Institute estimates that 98% of Florida residents live in coastal counties, yet only 42% of coastal county homeowners have flood insurance.
“Because Kin’s flood coverage can be added to the homeowners insurance policy, Kin’s Florida customers only need to pay one premium for both home and flood coverage. This eliminates the extra time and cost of having separate policies and working with separate insurance companies,” Kin Insurance CEO Sean Harper states in the releae. “We understand these challenges and want to make getting flood coverage as easy as possible for homeowners.”
Kin, in the release, also says it’s looking to add staff at both its Chicago and St. Pete offices.