See how easy and affordable it is to protect what you love.
There’s no place like home – and our homeowners insurance is built with that in mind. It’s designed to protect you from disasters big and small. When something goes astray, you can click your ruby slippers together – or, rather, make a claim on your policy – and get your home back to how it once was.
Homeowners insurance covers:
You’re usually required to have home insurance if you have a mortgage. Even if you don't, homeowners insurance is essential protection for perhaps one of your life’s biggest investments.
Let’s learn more about how home insurance works. If you have a condo or mobile home, skip over here to learn about our condo insurance and mobile home insurance.
Not all insurance policies are created equal. Your policy can pay for claims differently depending on the coverage level you choose:
All Kin policies are offered on a replacement cost basis. That’s because we want you to be able to bring your home back to its original glory when you need to. It’s one less thing to worry about when you’re dealing with a major loss.
All homeowners need home insurance. New homeowners need homeowners insurance in place to close on their house if they have a mortgage lender. And yes, you still need insurance even if you’ve paid off your mortgage (congratulations!).
Why? Because losses are expensive.
For example, a fire claim costs $68,322 on average. They are also the second most common home insurance claim. Total losses – instances where fires destroyed the whole home – are even costlier.
It costs about $150 per square foot to build a home. So if you have a 1,500 square foot house, you could be looking at $225,000 in construction costs alone.
Imagine paying that out of pocket!
How much home insurance you need depends on the replacement cost of your home. This is calculated roughly by the square footage of your home multiplied by building costs per square foot.
For your belongings, other structures, and additional living expenses, the general rule is to have at least 20 percent of your dwelling insurance. So if your home is insured for $300,000, you’d want about $60,000 for each.
If you have high-value belongings and fixtures, it might make sense to increase that coverage to 50 percent of your dwelling.
| Type of Coverage | Standard Limits |
|---|---|
| Dwelling | Up to the replacement cost of the interior (we calculate this for you) |
| Other Structures | 10% to 20% of the coverage you have for your dwelling |
| Personal Property | 20% to 50% of the coverage you have for your dwelling |
| Loss of Use | 20% of the coverage you have for your dwelling |
| Personal Liability | $100,000 |
| Medical Payments | $1,000 |
The biggest factor in how much home insurance costs is where you live. Your state, city, or even your neighborhood can indicate the likelihood of loss. The more claims an area has, the higher the insurance rates will usually be.
For example, coastal communities in Florida besieged with hurricanes or rural areas in California suffering wildfires are becoming more and more expensive to insure. Insurance companies have to price these policies to address the increased risk and the chance of paying a lot of claims at once.
It’s also worth noting that a home’s claims stay on the record for three to seven years, even if the claim came from a previous owner.
But a lot of other factors can affect homeowners insurance premiums, too, including:
When you apply for homeowners insurance, make sure to ask about available discounts. Our quotes are customizable, too, so you can see how your coverage types and amounts impact your premium in real time.
These are the different policy forms insurance companies use to write home insurance policies. Learn what they mean for your coverage (spoiler: Kin offers HO-3 policies for single-family homes).
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