Kin, a digital home and auto insurance provider, has launched an auto insurance for its Florida and Texas home insurance customers, a move that allows those living in two of the most volatile US insurance markets to bundle their policies, unlocking significant savings.
The expansion is a direct response to the mounting challenges faced by residents in these states.
By bundling home and auto insurance, customers can now save up to 20% on their auto premiums – a major incentive in markets with climbing costs -, as well as giving them easy policy management, and comprehensive protection.
The expansion into auto insurance is specifically designed to navigate the unique challenges of the Florida and Texas markets, Kin notes.
Florida is a state that currently grapples with some of the highest car insurance premiums in the US and high rate of uninsured drivers. Kin’s platform aims to provide clear, competitive coverage that bridged these gaps.
In Texas, Kin provides coverage to drivers throughout the entire state, offering protection against the state’s diverse environmental risks, without geographic restriction.
Kin confirmed the market demand for bundled coverage in a recent survey. Though 61% of homeowners already bundle, others face significant hurdles: 18% reported it wasn’t an option, and over a third were unaware of the benefits or the option itself.
Cost is the main driver; 70% bundle for savings, and 39% would switch providers for a 20% discount, aligning with the potential auto insurance savings Kin offers to bundlers.
Kin Founder and CEO Sean Harper, said: “Our customers in Florida and Texas told us they wanted the ability to bundle auto and home insurance, so we made it a priority to bring this product to market.
“By offering auto insurance alongside our existing home insurance, we are creating access to coverage that protects them from the unique risks in their states — from the high percentage of uninsured drivers in Florida to the significant storm exposure in Texas — while keeping costs manageable, simplifying the insurance experience, and strengthening long-term relationships with our customers.
