Bindable, the InsurTech leader for alternative distribution solutions, has announced a new partnership with HoneyQuote, a home insurance comparison tool that is changing the way homeowners shop for insurance in Florida.
Customers seeking Florida home insurance through Bindable’s insurance comparison shopping platform will now be connected to HoneyQuote.com to access additional options to meet their home insurance coverage needs.
The partnership aims to simplify the process of finding affordable and comprehensive home insurance for Florida residents. With the rising costs of home insurance in the state, this collaboration seeks to provide homeowners with more competitive options.
Bindable specialises in providing innovative distribution solutions in the InsurTech space, enabling consumers to access a wide range of insurance products.
HoneyQuote, on the other hand, is a home insurance comparison tool dedicated to transforming the insurance shopping experience for Florida homeowners, offering an easy-to-use platform for comparing and purchasing home insurance policies.
The average annual cost of homeowners insurance in Florida is $2,625, which is 37% higher than the national average of $1,915.
Due to these high costs, 15-20% of Floridians have opted to forgo home coverage entirely, exposing themselves to significant financial risks. This partnership aims to address this issue by offering a more accessible and cost-effective way for Florida residents to secure home insurance.
The collaboration also benefits Bindable’s enterprise and Insurance-as-a-Service clients. These clients can now seamlessly integrate HoneyQuote’s rates within their own insurance quoting environments, allowing their Florida customers to compare and purchase home insurance from over 30 insurance companies entirely online.
Bindable president Jean-Marie Lovett said, “We recognise that finding an affordable yet sufficient home insurance policy these days can be difficult, especially for homeowners in Florida. Our partnership with HoneyQuote ensures our Florida customers have access to competitive options for home insurance, and reflects our commitment to always exploring new ways to provide the most comprehensive selection of products for consumers.”
HoneyQuote CEO Freddy Seikaly added, “As participants in the insurance value chain, we have a duty to provide essential services that contribute to the financial security of all individuals, no matter who they are, where they live, or what market we’re in. Together, Bindable and HoneyQuote are helping close the protection gap in Florida by providing consumers with the ability to easily compare and purchase home insurance policies, securing the protection they undeniably need at a price that works for them.”
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