Insurtech Orion180 has introduced residential private flood insurance in 10 states, with plans for further expansion in 2025. The Florida-based insurer aims to strengthen its presence in the flood insurance market as part of its broader growth strategy.
The coverage includes protection for single-family homes and their contents, with limits up to $1 mn. Policies are available as standalone coverage or as an add-on to Orion180’s surplus lines home insurance policies.
Policyholders can access additional coverage options, such as loss of use, replacement cost, loss avoidance, and debris removal. Coverage extends to a home’s structure, foundation, major systems, furniture, appliances, and valuables, including collectibles and electronics.
Additional protection is available for water backup, sump overflow, swimming pool cleanup, and repair. Orion180’s flood policies are currently offered in Alabama, Arizona, Colorado, Georgia, Illinois, Mississippi, North Carolina, Ohio, South Carolina, and Tennessee.
The company relies on advanced technology to assess and validate risk, ensuring pricing is accurate and fair. According to Orion180, this tech-driven approach allows for better underwriting precision in flood-prone regions.
Orion180 has also been increasing its admitted homeowners coverage in the South and Midwest. Founder and CEO Ken Gregg noted that weather-related disasters, increased claims, and reduced underwriting capacity are shaping the current insurance market landscape.
