The 3 Best Hawaii Homeowners Insurance Companies

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In 1992, Hurricane Iniki struck Kauai, causing nearly $2 billion in property damage. The unfortunate reality following Iniki was that many Hawaii homeowners were either uninsured or underinsured and their property was unrecoverable as a result.

A quarter-century later, it is as important as ever to evaluate how prepared you are to deal with disaster and ensure that you’re receiving adequate coverage from a provider you can trust.

Considering Hawaii’s position, surrounded by the vast Pacific Ocean, seek out a homeowners insurance company that offers hurricane and flood protection. These options may cost more on your annual premium, which is $337 in Hawaii, 73 percent less than the national average, according to Insurance.com. However, you will save a significant amount in the event of a disaster.

We’ve outlined our top picks for Hawaii homeowners insurance, based on the availability of coverage options and financial strength. We’ve also included an online quote comparison tool so you start evaluating policies today.

Find the Best Home Insurance

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

Our Top Picks for Best Homeowners Insurance in Hawaii

State Farm

State Farm dominates the Hawaii homeowners insurance market, writing over 33 percent of total premiums in the state. The company is a popular choice for Hawaii residents because standard policies are cheap, they cover every type of standard dwelling and can be tailored to your needs with add-on protections.

A standard State Farm policy in Hawaii includes protection in the event of fire, lightning, windstorms, freezing and theft. This policy is available to Hawaii residents living in single-family homes, condominiums, farms/ranches and manufactured homes. Available add-on options include increased coverage for personal injury, liability and identity restoration services.

State Farm helps you save on your homeowners insurance by offering a host of discount opportunities. Customers who have a claims-free history, bundle their auto and home insurance products with State Farm, install fire alarms and other protective devices and opt for a higher deductible are eligible for price breaks on their homeowners insurance premium. You can also qualify for a discount if you install an impact-resistant roof on your home.

It’s important to note that State Farm does not extend discounts for new or recently renovated homes. If you own a new or recently renovated home, keep this in mind when shopping around for a policy as many companies do offer that break.

First Insurance Co. of Hawaii

First Insureance Co. of Hawaii (FICOH) has been serving Hawaii residents for over a century and boasts an A+ (superior) rating from A.M. Best for financial strength. A FICOH homeowners insurance policy covers any damage caused by lightning, fire or theft, along with personal liability coverage. Each FICOH policy also includes free identity protection and management through CyberScout, a valuable perk considering many other providers tack this on as an extra cost. The FICOH website features a free ID RiskCompass tool that you can use to assess your vulnerability to identity theft.

FICOH’s First Select Portfolio is a unique personal insurance option in Hawaii. The portfolio combines homeowners, automobile and optional umbrella insurance policies in a single, comprehensive policy that can be customized with additional protection where you see fit. Opting for this policy protects all your major assets and ends up saving you a significant chunk on both individual insurances. FICOH also offers accident forgiveness and customer loyalty credit, so you can lower your premium even more.

USAA

USAA was founded by a group of Army officers and continues to serve military service members and their families throughout the United States. There are more than 10 military bases in Hawaii, so it’s no wonder USAA is a popular choice for affordable homeowners insurance coverage. The company’s core military values of service, loyalty, honesty and integrity mean consistently well-rated customer service and claims management departments, as well as an A++ (highest possible) rating from A.M. Best.

A standard USAA homeowners insurance policy in Hawaii protects against most weather-related damage, fire and theft, and automatically includes full-replacement cost coverage to repair or rebuild your home after a covered loss, without factoring in depreciation. In the event that your personal belongings were damaged or destroyed, USAA provides up to 75 percent of the insured value of your home to recover them. Each USAA policy also includes up to $5,000 toward expenses incurred due to credit card fraud or identity theft, a feature that is growing in importance.

Eligibility for homeowners insurance through USAA requires membership in the association, which comes with its own set of perks. In addition to cheap comprehensive homeowners insurance coverage, USAA members have access to benefits such as no ATM fees, low loan rates, and discount opportunities with participating retailers. If you have auto and homeowners insurance with USAA, you can receive a 10 percent discount on your homeowners premium. USAA customers can also take advantage of the Home Circle online resource center, which provides specialty tools and tips for military families and homeownership.

How much is homeowners insurance in Hawaii?

Homeowners insurance in Hawaii averages about $337 annually. That’s for a home valued at $200,000, with a $1,000 deductible and $100,000 in liability coverage. That comes out to 73 percent less than the national average annual premium of $1,228. Your rate will vary based on your level of coverage and other factors described below.

Hawaii Rate Factors

Hawaii homes are exposed to risks like tsunamis, flash floods, earthquakes, hurricanes and wildfires. Most homeowners policies require you to get add-on coverage for protection against those natural disasters, pushing up your annual rate. Other factors that affect your homeowners insurance rate in Hawaii can include how close you live to a fire station or fire hydrant, the crime rate in your area, the value of your home, and the number of claims you’ve filed in the past.

The Best 3 Hawaii Homeowners Insurance Companies

Find the Best Home Insurance

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

For more information on homeowners insurance and to see our overall top picks for the best national providers, click here