Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Restricted Cash and Cash Equivalents

The following table provides the components of restricted cash and cash equivalents on the Consolidated Balance Sheets:

	December 31, 2024		December 31, 2023
Held as collateral by captive reinsurer for benefit of HOA (1)	$	20,608	$	28,341
Pledged to state departments of insurance (2)	895		1,340
Held for payment of possible warranty claims (3)	6,636		7,273
Other	1,000		1,860
Restricted cash and cash equivalents	$	29,139	$	38,814

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(1)Held by our captive reinsurance business as collateral for the benefit of Homeowners of America (“HOA”).

(2)Pledged to the Department of Insurance in certain states as a condition of our Certificate of Authority for the purpose of meeting obligations to policyholders and creditors.

(3)Required under regulatory guidelines in 23 states and 19 states as of December 31, 2024 and December 31, 2023, respectively.

Schedule of Cash, Cash Equivalents and Restricted Cash

The reconciliation of cash, cash equivalents, and restricted cash to amounts presented in the Consolidated Statements of Cash Flows are as follows:

	December 31,
	2024		2023
Cash and cash equivalents	$	167,643	$	258,418
Restricted cash and cash equivalents	29,139		38,814
Cash, cash equivalents, and restricted cash and cash equivalents	$	196,782	$	297,232

Schedule of Property Plant and Equipment Useful Lives

Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets, as follows:

	Estimated Useful Lives
Software and computer equipment	3 years
Furniture, office equipment and other	3 – 5 years
Internally developed software	2 years
Leasehold improvements	Shorter of 8 years or remaining lease term

Schedule of Components of Other Insurance Liabilities, Current

The following table details the components of other insurance liabilities, current, in the Consolidated Balance Sheets:

	December 31,
	2024		2023
Ceded reinsurance premiums payable	$	17,141	$	10,500
Commissions payable, reinsurers and agents	7,264		4,650
Advance premiums	8,865		5,975
Funds held under reinsurance treaty	5,284		9,820
General and accrued expenses payable	586		640
Other insurance liabilities, current	$	39,140	$	31,585