Hawaii Home Insurance

Whether you’re living in a seaside bungalow, a high-rise overlooking public beaches, or a condo in the city, you’ve probably thought about investing in some home or renters insurance. To protect your home and yourself from natural disasters, volcanoes, floods, vandalism, fires, and other unexpected home emergencies, it’s wise to look into an affordable home or renters insurance policy. The Simple Dollar has constructed an easy-to-follow home insurance guide for Hawaii residents that provides insight into Hawaii’s insurance landscape.

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Stats in Your State

Hawaii has an unpredictable natural environment. Though the island itself is relatively safe, it is subject to volcanoes, hurricanes, and other natural liabilities. The Simple Dollar is a useful resource for anyone researching home insurance policies, laws, rules, and regulations in Hawaii.

Homeowner Insurance Premiums

Compared to the rest of the nation, Hawaii enjoys relatively low renters and homeowners insurance rates. In 2008, the average cost for renters insurance was listed at $202, while homeowners insurance averaged out at $862. States like Louisiana (renters: $228, homeowners: $1,155), Oklahoma (renters: $218, homeowners: $1,048), and Texas (renters: $216, homeowners: $1,460) have higher rates.

Renter Insurance Premiums

Renters insurance isn’t something many individuals think to invest in; however, renters insurance can protect you from liabilities your landlords and property owners are not legally responsible for. As mentioned earlier, in 2008 the average cost for renters and homeowners insurance was respectively listed at $202 and $862. Renters insurance in Hawaii has cost relatively the same amount over the years, but homeowners insurance has continued to rise.

Existing Home Sales

Home sales in Hawaii were on the rise from 2000-2007 until the nation as a whole decreased in overall home sales due to the 2008 economic recession. Since 2010, however, home sales in Hawaii and the rest of the nation have been steadily increasing.

Flood Insurance in Region

Surrounded by a massive body of water, Hawaii endures its share of floods each year. Starting in October 2011, there have been 265 flood insurance claims, which totaled $12,995 in resulting claim payments. Compared to other states, Hawaii has a relatively high number of flood insurance claims and payments.

Homes Built

The majority of homes in Hawaii were constructed between 1960-1990. Before and after that period, home building rates have been relatively stable and sometimes small, particularly before 1949 and after 2005. Depending on the year your home was built, your insurance rates will fluctuate. Older homes are generally more expensive to insure than newer ones.

Rules in Your State

Insurance laws and regulations change through the years both in and out of the state. To keep you abreast of all the information you need to choose the right home insurance policy, The Simple Dollar has used insurance resources and featured them below.

Department of Commerce & Consumer Affairs - Insurance To find out more about the regulations and rules that encompass home insurance, as well as other types of insurance, visit the link above to Hawaii.gov’s insurance page.

Representatives & Resources in Your State

Understanding home and renters insurance in Hawaii is difficult without the appropriate resources at your fingertips. The Simple Dollar has listed a host of resources and representatives you can use when you’re attempting to understand the complicated web that is home and renters insurance. Also included are also some tips on preparing your home for hurricane season.

Department of Commerce & Consumer Affairs (Insurance)
King Kalakaua Building
335 Merchant Street, Rm. 213
Honolulu, Hawaii 96813
Get Directions
File a complaint or report insurance fraud

Hawaii Insurance Commissioner
King Kalakaua Building
335 Merchant Street
Honolulu, Hawaii 96813
Get Directions

National Hurricane Center
11691 SW 17th Street
Miami, Florida 33165-2149 USA
Get Directions

Hurricane Preparedness Tips from the Department of Commerce & Consumer Affairs
FEMA (Hawaii)
U.S. Department of Homeland Security
500 C Street SW
Washington, DC 20472
Get Directions