Stand, a homeowners insurance provider, closed a $35 million Series B funding round led by Eclipse. The company has already written $1 billion in coverage in California and plans to enter the Florida market. Florida faces severe climate risks, with $94 billion in weather disasters since 1980.

Many Florida homeowners rely on state-run Citizens Property Insurance due to limited private market options. Stand’s new model of underwriting homes using property-level analysis focuses on risk reduction. U.S. weather disasters average nearly $150 billion annually, driving insurers away from high-risk regions.

Stand’s Florida program offers HO-3 policies up to $2 million for houses and HO-6 policies up to $750,000 for condos. In California, HO-5 policies provide comprehensive coverage for high-value residences. The company’s investment demonstrates confidence in measurable risk reduction through insurance models.

The Florida rollout includes incentives for homeowners to reinforce properties against wind damage. Upgrades like impact-resistant windows and reinforced roofing can qualify for premium savings. Stand offers guidance to help residents document mitigation work, reducing long-term risk and coverage costs.

Read more at Yahoo Finance: Stand Secures $35 Million From Eclipse, Lowercarbon And Inspired Capital To Insure Homes Traditional Carriers Refuse To Touch