Orion180 has introduced FLEX Home Insurance, a customizable homeowners’ insurance product now available in Texas.
The surplus lines product allows policyholders to tailor coverage based on individual needs and financial goals.
“We believe insurance should be adaptable to the lives of our customers – not the other way around,” said Ken Gregg, chief executive of Orion180. “FLEX Home Insurance empowers homeowners with choice to design their policies around their individual preferences and priorities, offering unparalleled transparency, flexibility and peace of mind. FLEX gives homeowners the ability to balance affordability and protection that our competition simply doesn’t deliver today.”
FLEX Home Insurance provides a base level of protection, including fire and lightning coverage, with policyholders able to add coverage based on their risk tolerance and budget.
The product offers customizable coverage options, allowing homeowners to select perils that align with their individual risk assessments. It also includes adjustable deductibles and copay options, enabling policyholders to manage both upfront costs and long-term expenses.
Homeowners who experience no losses may qualify for loyalty rewards, which include deductible reductions, no-loss dividends, or a refund of their first-year premium after ten years without a claim.
Additionally, the policy features a two-term price lock to help stabilize premiums and protect against unexpected rate increases.
FLEX Home Insurance is structured to meet the needs of Texas homeowners, including those in areas with increased exposure to natural disasters such as tornadoes and hailstorms.
The product aims to provide flexibility for homeowners who want to balance coverage and affordability based on their specific circumstances. By offering policyholders the ability to customize their protection, Orion180 seeks to introduce a more adaptable approach to homeowners' insurance.
The product is currently available through select insurance agents in Texas, with plans for expansion to Florida and additional states in the spring of 2025. Orion180 continues to develop insurance solutions that offer policyholders greater control over their coverage and financial planning.