Kin has released results from a 2025 survey indicating that 60 percent of California homeowners have encountered difficulties in securing affordable home insurance over the past three years. This has led many to take actions such as changing policies or shopping around, particularly following the Palisades Fire.
According to Kin, the survey involved 1,000 California homeowners and revealed that 34 percent experienced significant premium increases over three years, while 45 percent reported marginal increases. The survey also found that 81 percent of respondents have implemented wildfire protection measures like removing vegetation or sealing gaps.
The Joint Center for Housing Studies of Harvard University reported a substantial rise in the average annual homeowners insurance premium in Pacific Palisades, California. From 2021 to 2024, premiums increased by 33 percent above inflation, adjusting from $5,025 to $6,689. Similar trends were observed in areas such as Altadena due to increased wildfire risks.
The Consumer Federation of America noted that American homeowners saw a 24 percent increase in insurance premiums from 2021 to 2024. By 2024, typical homeowners were paying $3,303 annually. Premiums rose in 95 percent of U.S. ZIP codes, reflecting widespread impacts attributed to natural disasters and rising repair costs affecting household budgets nationwide.
Kin was founded in 2016 by Sean Harper, Lucas Ward, and Sebastian Villarreal. It is a Chicago-based technology company offering home insurance through a data-driven platform and operates in 13 states including high-risk areas like California and Florida. The company uses artificial intelligence for risk assessment and achieved unicorn status in 2023 with a valuation exceeding $1 billion after raising $265 million in funding.
