Digital Insurer Honeycomb Expands Property Coverage to Three Major U.S. States
Chicago, Wednesday, 7 October 2026.
On October 7, 2026, Honeycomb Insurance expanded commercial property coverage into Michigan, Massachusetts, and Illinois, utilizing proprietary technology to underwrite risks instantly without physical inspections.
Digital Insurer Honeycomb Expands Property Coverage to Three Major U.S. States
On October 7, 2026, Honeycomb Insurance announced the expansion of its Lessor’s Risk Only (LRO) coverage into Michigan, Massachusetts, and Illinois, increasing its total LRO presence from four to seven states [1][2]. The Chicago-headquartered digital insurer revealed the move today, enabling agents in these markets to place office, retail, and other commercial properties through its digital platform [3]. This strategic expansion addresses growing capacity constraints in the commercial real estate insurance landscape by offering instant property-level pricing and streamlined underwriting [1][2]. The announcement marks a significant step in the company’s geographic growth plan for the remainder of 2026 [3].
Technology-Driven Underwriting and Market Impact
Honeycomb Insurance utilizes proprietary technology for custom underwriting and pricing, targeting properties traditionally overlooked by standard carriers [1][3]. The platform eliminates the requirement for physical inspections, leveraging AI-driven property inspection technology to enable independent agents to underwrite well-managed commercial properties of any age [2][3]. This expansion represents a 75 percent increase in the company’s LRO footprint, reflecting aggressive growth in state availability [1][3]. Agents can quickly quote and bind policies for individual properties or entire portfolios using a physical address for initial eligibility [1]. The technology allows for greater pricing differentiation based on the individual characteristics of each property, ensuring risk is assessed on its own merits [1][2].
Company Scale and Strategic Outlook
Honeycomb Insurance currently manages over $150 billion in insured real estate assets and operates across 26 U.S. states, covering more than 70% of the U.S. population [1][3]. Itai Ben-Zaken, Co-Founder and CEO of Honeycomb Insurance, stated that expanding LRO into these states is an important step in growing what the company can offer to its agent network [1][2]. The company intends to continue its geographic expansion throughout the remainder of 2026, building on relationships with agents who already use the platform for multifamily and condominium businesses [1][3]. Headquartered in Chicago with offices in the U.S. and Israel, the company maintains underwriting discipline at the core of its strategy to enable consistent renewal pricing [1][3].