Annex Risk Insurance: Who It Is, What It Writes in California, and How to Get a Quote

Annex Risk is an insurance intermediary based in San Francisco. It writes homeowners and residential flood insurance for homes in wildfire, hurricane and coastal areas, the places standard carriers have been pulling out of. Annex is not an insurance company itself. It says it partners with leading insurance carriers rated "A" and "A-", underwrites with what it calls "sophisticated algorithmic underwriting and capacity", and distributes its policies "through a network of appointed licensed independent insurance brokers".^[1][2] Its homeowners program is live in California and, in Annex's own description, targets "well-maintained homes that struggle to obtain coverage due to their proximity to the wildland-urban interface".^[6]

If you own a home in California, Annex is one of a handful of specialty programs worth checking before you settle for a FAIR Plan policy. Menlo Insurance Services can quote Annex's homeowners program. To see whether your home fits, request a homeowners quote and tell us the house is in a wildfire area. Below: who Annex is, what it writes, and what to ask about the policy you'd get.

Who is Annex Risk?

Annex says it was founded by "industry experts" with more than 50 years of combined experience. Its idea is to use algorithmic underwriting to price homes the standard market won't touch.^[2] Its LinkedIn profile gives the founding year as 2019 and frames the mission as serving consumers in places exposed to natural disasters.^[6] The operating entity is Annex Risk & Insurance Solutions LLC, with a San Francisco mailing address and a payments lockbox in Dallas.^[5]

The most important thing to understand is how the deal is set up. Annex doesn't carry the risk on its own books. It "partners with leading insurance carriers" and describes those partners as "A" and "A-" rated, without naming them on its public site.^[1] In the trade we call this a managing general agent, or program administrator, setup. Our Delos Insurance guide describes the same thing. The intermediary picks the homes, sets the price and services the policy. A licensed insurer issues the contract and pays the losses. So when you file a claim, the company that counts is the carrier, not Annex. You want that name before you buy.

Annex's stated footprint is Alabama, Arizona, California, Florida, Georgia, Maryland, Massachusetts, Mississippi, New Jersey, North Carolina, Pennsylvania, South Carolina, Texas and Virginia, and it reports roughly 15,000 agent partners.^[2][1] What Annex sells those agents on is speed: "quote and bind digitally in under 2 minutes".^[1]

What does Annex Risk insure?

The public site shows two products. A third has been announced.

Homeowners. Annex writes what it calls "standard HO-3 insurance" for owners in high-risk zones, naming hurricanes, tornadoes and fires as the events that make those homes hard to place.^[3] The coverages it lists are the familiar HO-3 parts: dwelling, other structures, loss of use, personal liability and personal property, plus a "reconstruction" coverage described as additional protection when the decision is to rebuild rather than take the replacement cost value.^[3] The homepage advertises capacity up to "$2m of replacement cost" and says "Tier 1 & 2 risks accepted", a reference to catastrophe-exposed rating tiers.^[1] For what the HO-3 form itself covers, see our HO-3 vs HO-5 guide and the HO 00 03 form reference.

Flood. The residential flood product lists dwelling, personal property, loss of use and other structures.^[4] Annex's page doesn't say how it relates to the federal program. Ask whether the quote is private flood or backed by the NFIP, and how it handles waiting periods and elevation data. Our flood insurance overview covers the basics.

Condo. Annex announced on its company channel that it now offers HO-6 coverage "as part of the Annex homeowners program", aimed at units in catastrophe- and wind-exposed areas outside the admitted market.^[6] You won't find it described on the public site, and whether you can get it depends on the state and the building. When Menlo quotes Annex, it quotes the homeowners program. If you own a condo, ask a broker whether HO-6 is available instead of assuming it is.

What does the California program look for?

The best public clue to who qualifies is how Annex described its own California launch. The program targets "well-maintained homes that struggle to obtain coverage due to their proximity to the wildland-urban interface".^[6] That sentence has two halves, and both count.

"Well-maintained" is the condition test. Expect questions about the age and condition of the roof, the electrical, plumbing and heating, your prior claims, and the house in general. If the place looks tired, that's where the conversation ends.

"Struggle to obtain coverage" is the gap Annex wants to fill. These are homes a wildfire model pushed out of the admitted market even though, when someone actually looks at them, they aren't bad risks.

The FAIR Plan asks a different question. It's the insurer of last resort, so all it wants to know is whether any traditional insurer will take you. Annex wants to know whether your house, on your lot, prices out inside its models. Those answers don't always match. A home that could only get the FAIR Plan a year ago might fit a specialty program today. A broker with access to both can find out with one submission.

How do you get an Annex Risk quote?

You go through a broker. Annex says it offers policies "through a network of appointed licensed independent insurance brokers", and that a licensed property and casualty broker in its states "does not need to hold an E&S license to produce/refer submissions".^[2] The public site has no quote tool for consumers. The only portal is an agent login.^[5] Menlo has access to Annex's homeowners program and can send your home there along with the other wildfire-area markets we work with.

Annex will want the same facts every specialty homeowners carrier asks for:

1. Property facts

   Year built, square footage, construction type, roof material and age, foundation, and the year of any wiring, plumbing and heating updates. Photos help. Saying the house is "well-maintained" isn't enough; you have to show it.^[6]

2. Location and mitigation

   Your address sets the wildfire exposure. What you can change is defensible space, ember-resistant vents and other hardening. Have recent photos of the whole perimeter ready.

3. Coverage targets

   The dwelling limit you need to rebuild, contents and liability limits, and the deductible you can carry. Annex's homeowners program advertises capacity up to $2 million of replacement cost.^[1]

4. History

   Prior claims, prior carriers, and any nonrenewal notices. Getting nonrenewed by an admitted carrier won't knock you out of a specialty program. It's the reason these programs exist.

Then start a homeowners quote. If Annex fits, the quote will name the issuing carrier and show the form, limits and deductibles. Then you can compare it with your other options, including a FAIR Plan policy paired with a difference in conditions policy.

What should you ask before you bind?

A specialty homeowners policy is only as good as the insurer behind it and the terms inside it. Ask these five questions:

1. Which insurer issues the policy, and is it admitted in California or surplus lines? Annex has described its homeowners product as excess and surplus lines coverage in Florida, New Jersey and Georgia.^[6] Whatever the answer is in California, it changes how the rates are regulated, whether a guarantee fund backs you, and what taxes you pay. If you think that's a technicality, read admitted vs non-admitted carriers and surplus lines insurance first.
2. What is the issuing carrier's financial strength rating? Annex says its partners are "A" and "A-" rated.^[1] Get the carrier's name and the rating agency, then look the rating up yourself. Our AM Best ratings guide explains the scale.
3. Is the form a true HO-3, and are contents at replacement cost? Annex describes the product as standard HO-3.^[3] Check the form number, and ask whether your belongings are paid at actual cash value or replacement cost.
4. What are the deductibles, including any separate wildfire deductible? Some specialty wildfire programs charge a percentage deductible for wildfire and a flat deductible for everything else. Turn any percentage into a dollar figure so you know what you'd actually pay.
5. Who handles claims and how? With a middleman involved, get the claims phone number and the name of the adjusting company in writing now, before you ever need them.

None of this is a reason to skip a specialty program. Get the answers in writing and you'll know exactly what you're buying.

This guide is for educational purposes and summarizes Annex Risk's public statements and general California market practice. Your policy's specific terms, conditions, and endorsements control. Menlo Insurance Services (CA license 6020106) does not guarantee that any coverage or price will be available; talk to a licensed broker about your actual exposures.

The Bottom Line

Annex Risk sells through brokers, and it's built for homes the admitted market has walked away from. It writes HO-3 homeowners and residential flood, prices them by algorithm, and has partner carriers issue the policies. In California it's open to well-maintained homes near the wildland-urban interface. Send it a submission before you accept the FAIR Plan. Before you bind, find out who the carrier is, whether the policy is admitted or surplus lines, how the carrier is rated, and what the deductibles are. Those answers tell you what you're actually buying.