Home Insurance in Hawaii
Protecting your home in Hawaii is all about having the right type of home insurance, but knowing Hawaii homeowners requirements and finding a competitively priced policy is not always easy. To buy homeowners insurance in Hawaii, it is important to know what coverage is right for your home and which insurers are best suited to meet your needs. To find cheap homeowners insurance, consider these helpful tips.
Home Insurance Companies in Hawaii
Not all home insurance companies are the same. Top rated homeowners insurance companies in Hawaii provide competitively priced policies with several coverage options. As you look for the best home insurance companies in Hawaii, you need to think about the right amount of protection for your home based on its value, risks, and features. Homeowners insurance agencies in Hawaii can help you. Independent home insurance agents in Hawaii can also compare multiple insurers to find the best price.
How to Get the Best Rates for Home Insurance in Hawaii
Saving money is important. To get the best rate, compare policies now. Enter your zip code into the box below to get started.
<zipcode>Find The Cheapest Home Insurance In Your Area:</zipcode>
How Much Does Homeowners Insurance Cost in Hawaii?
Costs depend on many factors. To know how affordable your policy is, get home insurance quotes in Hawaii from multiple insurers. To compare them, consider that the national average is $1,173. The average annual premium in Hawaii is $1,014. The cheapest home insurance in Hawaii offers even lower rates.
<twitter>The average annual premium in Hawaii is $1,014. The cheapest home insurance in Hawaii offers even lower rates.</twitter>
List of Homeowners Insurance Companies in Hawaii
To save money, get started with a list of companies to compare. Enter your zip code above to get a list of companies serving Hawaii.
How Homeowners Insurance Is Calculated in Hawaii
Insurance companies use a lot of data to determine premiums. Most of the time, they look at your specific home’s features. Yet, they also consider local trends including these.
<qa>1;Crime;Crime is a big factor in Hawaii insurance rates. The national average is 24 incidents per 1,000 properties. However, in Hawaii, that’s a bit higher at 28.29. This makes home insurance a bit more expensive.</qa>
<qa>2;Weather/Climate;Hawaii has some key climate risks that can increase home insurance costs including coastal and inland flooding. Some areas of swamp flooding create risks, too. Storms that create wind can also impact homes, increasing risk factors.</qa>
<qa>3;Home Values;No other factor is as concerning is home value. The median home value in Hawaii as of March of 2019 is $617,900. That is well above the national average, and impacts home insurance costs significantly. The more valuable your home, the more insurance coverage you need.</qa>
Home Insurance Requirements in Hawaii
Another area of concern is your individual policy coverage. You control what you buy protection from, which influences costs. Consider a few common questions about Hawaii home insurance.
Is Homeowners Insurance Required in Hawaii?
No one has to legally have home insurance in Hawaii, yet most homeowners do due to the high value of homes. If you have a loan on your home, your lender will require home insurance as well.
What Does Home Insurance Cover?
Comprehensive home insurance offers two main types of protection. It covers your home itself and the possessions within it from things like storm damage and fires. Flooding insurance in Hawaii is an additional cost, added to your existing policy. Policies also include liability insurance to protect you from claims of loss made by others.
Homeowners Insurance for New Properties in Hawaii
If you own or are building a new home in Hawaii, your costs are going to be a bit higher. However, insurance is nearly always a good investment. Most new property owners also carry a mortgage, which requires comprehensive coverage.
Homeowners Insurance for Old Properties in Hawaii
For older properties, Hawaii residents still benefit from insurance. These homes remain highly valuable and face the same types of risks. This makes having quality insurance essential.
Renters Insurance in Hawaii
Legally, you do not have to have renter’s insurance in Hawaii. However, state laws allow property owners and landlords to make it a requirement for anyone renting their properties. Most do this in the state.
Renter’s insurance in Hawaii is affordable, generally under $50 per month depending on the type of home you rent. It covers your possessions and your liability risks. This is never covered under your property owner’s insurance. It is the only way to protect your belongings from risks such as theft and fire.
<zipcode>Compare Renters Insurance in Hawaii</zipcode>
Compare Home Insurance in Hawaii by City
How much will it cost you? To find the cheapest home insurance in Hawaii, begin getting quotes from several companies. You can compare home insurance quotes in Hawaii for your specific home. In the largest cities, costs are impacted by the following.
<qa>1;Home Insurance Quotes in Honolulu, Hawaii;By far the largest city, Honolulu is home to 964,691 people. It is a major tourism area. As the main city in the state, the median home value here is high at $672,700.</qa>
<qa>2;Home Insurance Quotes in Kailua, Hawaii;About 35,812 people call the small city of Kailua home. It’s located on the Island of Maui. This area has very limited housing, which has driven home prices up to a median of $1,045,400.</qa>
<qa>3;Home Insurance Quotes in Hilo, Hawaii;A more residential area compared to the region’s tourism, Hilo boasts 35,269 residents. A more affordable area of the state, Hilo’s median home value is $329,000, still well above national levels.</qa>
<qa>4;Home Insurance Quotes in Kaneohe, Hawaii;The city of Kaneohe is home to 29,919 people, mostly in residential areas with some commercial aspects. The median home value in the growing city of Kaneohe is $841,200.</qa>
<qa>5;Home Insurance Quotes in Waipahu, Hawaii;With 29,139 people, Waipahu is a thriving community with numerous amenities. This area is seeing significant growth, which has helped the median home value to rise to $665,900 here.</qa>
Bonus: Most Expensive Homes in Hawaii
If you’re looking for affordable home insurance, don’t consider these homes. These are the most expensive in the state.
- Raptor Residents, as it is called, is an oceanfront estate in Kukio valued at $61.8 million.
- Another Kukio property with a high value is an 11-bedroom home is valued at $39.4 million.
- On Kona, a beautiful home with oceanfront access is valued at $31.3 million.