- Insures high-value homes and homes located near the coast
- Offers discounts to save money on premiums
- Has a variety of additional coverage options and policies
- Is staffed with helpful and knowledgeable individuals
- Often denies claims
- Has been going down in financial stability
- Only serves four states
- Provides no way to receive an online quote
Comparing insurance companies is important when shopping for homeowners insurance. You want to make sure your home is adequately protected, so learning more about each insurer will help you make the right choice. Kingston is an insurer that serves 4 states: New Jersey, New York, Rhode Island, and Massachusetts. They offer coverage for owned homes, rented homes, secondary homes, condos, and apartments. The company is known for insuring homes located in risky coastal areas that often get declined by other insurance providers.
Types of Kingstone homeowners insurance coverage
Since Kingstone is willing to insure many different types of homes, they offer a broad range of coverage options. Depending on your needs and how valuable your home is, you will always be sure to have the appropriate coverage when you choose Kingstone.
You can get a variety of different dwelling coverages with Kingstone, which is perfect if you have a high-value home that needs the extra protection that a typical homeowners policy does not provide. It is possible to create a policy that fits your specific needs, so you can get the specific coverage you require.
Because Kingstone is also known for accepting risks that are often declined by other insurers, this gives them a great reputation. It makes the process of getting homeowners insurance easier if you are located close to the water or in an area that is known for experiencing damage from water-related incidents.
Kingstone home insurance discounts
Many insurance companies offer discounts to help you save money on your premium, and Kingstone is no exception. They have a variety of different discounts available that are easy to apply to your policy.
Alarm
If you have burglar alarms or other security systems installed, Kingstone will offer you a discount for protecting your home. This makes your home less likely to experience a severe break-in, which will lower the liability risk involved when insuring you.
Renovation
Having recent renovations done to your home will also benefit you when choosing Kingstone. They offer you a discount if you had these renovations done because it improves the overall condition of your home.
Multi-Policy
When you purchase more than one type of policy from Kingstone, you get a multi-policy discount applied to your premium. This is useful if you are looking to get different types of coverage through the same insurer.
Auto Policy
While Kingstone does not write auto policies, they still offer customers a discount if they purchase an auto policy that is handled by a Kingstone broker. This provides a similar discount as the multi-policy one.
New Home
If your home is newly constructed, you will also qualify for a discount through Kingstone. They reward customers for having newer homes because they are less likely to be damaged by perils that can occur.
Kingstone’s additional coverages
You are not limited to a basic homeowners insurance policy when you purchase one through Kingstone. They have a wide variety of optional overages and additional policies you can have in place to further protect your home.
Home-sharing
If you share a single home with another individual or family, there are coverage options for a home-sharing situation. This is a great option when you want a little bit of separation when it comes to the homeowners insurance you choose for the dwelling.
Inland Flood
Being located near the coast presents the risk of flooding occurring. Kingstone offers inland flood protection that can be purchased as an additional policy. No homeowners insurance policies automatically protect against this kind of damage, so it is an important option to consider.
Cyber Protection
In case you experience a cyber attack, Kingstone has the option of getting protection through its cyber coverage. They can help you get back on your feet if your data is compromised or your identity is stolen.
Water Backup
Having water backup in your home can create a lot of damage, and Kingstone understands this. They offer a special endorsement that can be added to your homeowners policy that will protect you from this risk.
Scheduled Property
If you have a lot of valuable items, it is a good idea to get a scheduled property endorsement. This allows you to make a list of these items to ensure they are taken into account if any damage does occur.
Service Line
In case damage happens to your home as a result of a service line disruption, Kingstone offers an endorsement that will protect you. This is especially helpful if you live in an area that experiences frequent storms.
Kingstone homeowners insurance premiums
Little information is known about Kingstone’s rates and how they compare to other companies. There is no online quoting tool on their website, so the easiest way to find a price is by calling them directly to get a quote. There is also an email option available through their website.
It is plausible to assume that Kingstone has a broad range of premium prices since they insure many different types of homes and offer a multitude of other coverages and policies that can be added on. Each home is likely to need specific coverage limits, so this can make premium prices vary greatly.
Some customer reviews have reported that Kingstone does offer competitive rates. They were able to insure different types of homes with customizable coverage levels.
Kingstone homeowners insurance claims
There are a notable amount of reviews that suggest Kingstone is not the best when it comes to handling claims. Some have stated that their claims were denied when a lot of damage occurred. Even after sending out adjusters, customers have reported that their claims were denied.
Others have stated that Kingstone has denied claims because they suggested that wear and tear occurred when a covered peril actually caused the damage. This has created many inconveniences and has caused customers to pay out-of-pocket for these expenses. Customers often view this as unacceptable behavior for an insurance company that promises to provide adequate protection.
Kingstone’s customer service
Customers who need to make general policy changes or ask questions about their policies have had mainly positive experiences with Kingstone. There are reviews stating that the company is easy to work with and good at communication. Overall, Kingstone earned 4.2 stars from 435 reviews on Google as of March 2023.
They have also reported that Kingstone is staffed by professionals who seem to care and understand. This is positive when trying to manage your insurance policy, especially if you have more than one with the same insurer.
There are a few complaints about rates being raised over time. Some customers who have never filed claims before stated that Kingstone attempted to raise their rates for seemingly no reason, making the insurance unaffordable.
Kingstone’s financial strength
Looking into the financial strength of an insurance company will give you some insight into its stability as a whole. There are ratings through the BBB and AM Best that highlight some of the key points to know about Kingstone.
BBB
Kingstone currently holds an A+ rating through the Better Business Bureau. They have been accredited through the BBB since 2016 and have 10 closed complaints on record in the last three years.
AM Best
AM Best posted a press release in July of 2022 stating that Kingstone has been downgraded from a B+ to a B. This is seen as a fair rating but should be noted since they have been recently downgraded in the last few months. Their rating has been going down in the past few years.
The verdict
Kingstone is an insurance company that makes it a point to include many different types of houses, even those that are typically harder to insure because of their locations. They have a wide variety of additional coverages and policies that will protect you from a broad range of instances.
While little is known about their average rates, they offer an array of discounts for customers to save money. These discounts are mostly applicable to newly renovated homes or homes that were built more recently, as Kingstone seems to prefer these dwellings.
Customers are fairly unhappy when it comes to Kingstone’s claims process. They have been denied several times and are often made to pay for expenses out-of-pocket, which can create large financial burdens over time.
Kingstone seems to have a handle on basic customer service requests and is staffed with professionals who want to help, but they have been known to raise rates on even the most loyal customers.
Their financial stability has been decreasing over time, which can leave many customers feeling concerned. This combined with their difficulty with handling claims seems to suggest that Kingstone might not be the best choice for homeowners insurance.
