Honeycomb Insurance, a technology-enabled property and casualty insurer specializing in landlords and condominium associations, has expanded into Tennessee and South Carolina, increasing its presence across the Southeast and bringing additional insurance capacity to markets facing growing wind, hail, tornado and liability risks.
The expansion enables insurance agents in both states to quote and bind admitted and non-admitted commercial real estate coverage through Honeycomb’s digital platform. The company already operates in Georgia, North Carolina and Virginia, making Tennessee and South Carolina the latest additions to its southeastern footprint.
Honeycomb’s entry into the two states comes within months of the company announcing a $40 million funding round and expanding its offering with Lessor’s Risk Only coverage.
The company is targeting a particularly challenging segment of the property insurance market. Agents in Tennessee and South Carolina have faced tighter underwriting standards, reduced carrier capacity and more volatile pricing as severe weather events increase pressure on insurers.
Frequent hail, wind and tornado activity has made it more difficult to place coverage for condominium associations, apartment buildings and single-family rental portfolios. Older properties and buildings with previous losses can be especially difficult to insure as carriers reduce their appetite for certain risks.
Honeycomb takes a property-specific approach to underwriting rather than applying broad geographic restrictions across entire territories.
The company said it evaluates each building individually, allowing well-maintained properties of different ages to potentially qualify for competitive pricing even in markets where other insurers have become more restrictive.
Through Honeycomb’s digital platform, agents can begin checking eligibility using only a property address and can quote and bind coverage within minutes.
The platform also includes an expanded eligibility tier for buildings with older roofs, previous losses or coverage lapses that may otherwise be difficult to place. Coverage is available for individual properties as well as portfolios, while excess liability can be added through the same system.
At launch, agents in Tennessee and South Carolina will have access to Honeycomb’s admitted and non-admitted habitational insurance products along with excess liability coverage.
That combination is intended to allow brokers to place a wider variety of property risks through one platform while maintaining a consistent underwriting, quoting and billing experience.
Honeycomb has grown substantially as it expands geographically.
The company now provides coverage for approximately $150 billion in real estate value across 26 states and plans additional expansion during 2026. Its platform supports admitted and non-admitted products in markets covering more than 70% of the U.S. population.
Honeycomb describes itself as a deep-tech property and casualty digital insurer. Its proprietary technology is designed to automate and improve property underwriting while eliminating the need for physical inspections in many cases.
The company focuses primarily on landlords and condominium associations, including properties that may receive less favorable treatment from traditional carriers because of their age, loss history or other characteristics.
The expansion into Tennessee and South Carolina comes as property insurers across many U.S. markets reassess risk due to severe weather, rising repair costs and growing liability exposures.
For Honeycomb, those conditions create an opportunity to use more property-specific data and automated underwriting technology rather than relying primarily on broad geographic restrictions.
The company said it has continued expanding while maintaining underwriting discipline and has been able to provide relatively consistent renewal pricing with minimal average annual premium increases.
With Tennessee and South Carolina added to the platform, Honeycomb plans to continue expanding its geographic reach while giving agents additional options for commercial and habitational properties that may be increasingly difficult to place through traditional insurance markets.
KEY QUOTES:
“Tennessee and South Carolina are important markets where agents need more consistent options for placing well-managed commercial properties. Our technology allows us to evaluate every property on its own merits, giving agents access to fast, accurate pricing and stable coverage for well-managed properties, including many that traditional carriers often overlook.”
Itai Ben-Zaken, Co-Founder and CEO of Honeycomb Insurance
