Honeycomb Insurance has expanded its Lessor’s Risk Only (LRO) insurance offering to Michigan, Massachusetts and Illinois, increasing the product’s availability from four to seven states.
The expansion gives independent insurance agents additional options for placing coverage on office buildings, retail properties and other commercial real estate through Honeycomb’s digital insurance platform.
Honeycomb specializes in insurance for landlords and condominium associations. Its LRO product extends the company’s existing offerings to additional commercial property types, allowing agents to manage more of their commercial real estate business through a single platform.
The coverage is designed for well-managed commercial properties, including older buildings. Honeycomb uses property-specific underwriting to evaluate individual risks and determine eligibility and pricing based on each property’s characteristics.
Agents can use the platform to quote and bind coverage for individual properties, multiple locations or entire property portfolios. The process begins with a property’s physical address, allowing agents to quickly check eligibility and obtain pricing.
Itai Ben-Zaken, co-founder and CEO of Honeycomb Insurance, said the expansion gives agents in the three additional states access to the same digital quoting and underwriting capabilities already available through Honeycomb’s other insurance products.
He added that the company aims to help agents place a broader range of commercial property risks while maintaining a streamlined quoting and binding process.
According to Honeycomb, its insurance platform now covers approximately $150 billion in real estate value across 26 states.
The company said it plans to continue expanding its insurance offerings and geographic reach while maintaining its focus on property-level underwriting and consistent renewal pricing.
Information for this article was provided by Honeycomb. Views and claims expressed in this article are those of the source company and do not necessarily reflect the views of AgencyEquity.com. This article may have been edited with the help of AI.
