The Cheapest Hawaii Renters Insurance Companies 2020

Hawaii is a gorgeous state, beloved by its estimated 1.4 million residents. The Aloha State is also prone to hurricanes and strong coastal winds that cause damage. Residents are vulnerable to the whims of the Pacific. With all of Hawaii’s perils, renters insurance is more important than ever.

Find the Best Renters Insurance in Hawaii

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      The best cheap Hawaii renters insurance companies

      You need specialized coverage that specifically caters to the unique landscape. For example, you might want protection from volcanic eruptions in Hawaii. Theft and vandalism also occur, particularly in Honolulu where the population is highest.

      There’s a lot of bad things that can happen to your home, but renters insurance will protect you from the unimaginable. With full coverage for your home and belongings, you can live worry-free, knowing that you have Hawaii’s best renters insurance.

      Coverage for Hawaii renters insurance varies depending on your needs. The average policy has $30,000 in personal property and $500,000 for personal liability. Some renters choose to increase ­their policy coverage. It all depends on your needs. The less coverage you have, the cheaper your Hawaii renters insurance will be.

      There are many insurance companies out there, but not all of them will be the right fit for you. Renters insurance varies a lot from state to state, so you need insurance that handles your specific needs as a Hawaii resident. Rates can fluctuate and differ significantly, so we did the research to find the 2020 cheapest renters insurance in Hawaii.

      Cost of renters insurance in Hawaii

      Just like New York renters insurance rent in Hawaii can be expensive. The average rent in Honolulu is $1,734 per month. It is an astronomical price for the state capitol, but rent prices does get less expensive in other places. Luckily, even if you live in an expensive city, renters insurance isn’t expensive.The average cost for Hawaii renters insurance is only $174 each year.

      Here are the best cheapest Hawaii renters insurance companies and their average costs:

      • State Farm – $116.50
      • Allstate – $159.50
      • Liberty Mutual – $175.50
      • Universal – $205.00
      • Commerce – $209.50

      Ratings for cheapest renters insurance companies: Hawaii

      J.D. Power and the Better Business Bureau (BBB) grade companies on their customer satisfaction. AM Best judges their financial stability.

      CompanyJ.D. Power RatingAM Best RatingBBB Rating
      State Farm5-MayA++ (Superior)A+
      Allstate5-FebA+ (Superior)A+
      Liberty Mutual5-FebA (Excellent)A
      UniversalNot rankedB+ (Good)A+
      Commerce / MapfreNot rankedA (Excellent)A+

      Best for extra protections – Allstate

      Allstate is a great choice if you’re looking for extensive coverage, with options for flood insurance and guest medical.

      J.D. Power Rating
      2/5
      AM Best Rating
      A+
      Standard & Poor’s
      AA-
      SimpleScore
      4.2 / 5.0
      close
      SimpleScore Allstate 4.2
      Discounts 5
      Coverage Options 5
      Customer Satisfaction 2
      Support 4
      Customer Satisfaction 5

      Allstate – Renters was founded in 1931 during the depths of the Great Depression. During that time, visionary leader Robert Wood, a World War I general who was also the president of Sears, knew the country had a growing need for quality insurance products and sought to fill that need through his new venture. Like other insurance companies that offer renters insurance, Allstate offers a certain level of base coverage with the option for customers to pay more for add-ons. Most basic policies include a range of coverages that can help protect your personal property like furniture, electronics and luxury items while protecting you against some of life’s “what ifs.”

      Coverages offered in Allstate renters insurance policies include:

      • Personal property coverage: Personal property coverage is at the core of renters insurance since it can repair or replace your belongings if they are stolen or destroyed. Items covered by basic personal property coverage can be clothing, electronics, family heirlooms, furniture and more.
        • You can choose between actual cash value or replacement cost (note: Allstate refers to it as reimbursement provision). Actual cash value means your belongings are covered for their replacement minus any depreciation that has occured since the time of purchase. Common causes of depreciation are things like age or general wear and tear. Replacement cost coverage replaces your belongings for the cost it would take to replace them at the time you file a claim. This type of policy is more expensive than an actual cash value policy. To determine which one is best for you, you should do a home inventory. The easiest way to do this is to do a video walkthrough or take a series of photographs of all of your possessions.
      • Living expenses: This coverage can reimburse you if you need to move because your rental becomes uninhabitable due to fire, vandalism or other factors beyond your control.
      • Personal liability: This coverage can pay for legal expenses, medical bills and additional damages incurred if someone is injured on a property you rent and they sue you as a result.
      • Guest medical: Guest medical coverage will kick in to pay for medical expenses when someone is injured on your property.

      Best for discounts – Liberty Mutual

      With an estimated $126 billion in assets, Liberty Mutual ranks #75 on the Fortune 500 list, where it has appeared for 25 years.

      J.D. Power Rating
      3/5
      AM Best Rating
      A
      Standard & Poor’s
      A
      SimpleScore
      4 / 5.0
      close
      SimpleScore Liberty Mutual 4
      Discounts 5
      Coverage Options 4
      Customer Satisfaction 2
      Support 4
      Accessibility 5

      Liberty Mutual has been in the insurance business for more than a century. The Boston-based insurer sells insurance products nationwide and boasts a workforce of 50,000 employees in 30 countries.

      Liberty Mutual’s standard renters insurance policies include the basic coverages most insurance carriers offer, including additional living expenses, liability, medical payments and personal property coverages. Liberty Mutual claims to have the best discounts on the market for renters insurance policyholders. Liberty Mutual is known for its many discounts, allowing a vast population to benefit from extra savings. Just a few of the discounts include being claims-free for five years, serving in the military, getting a quote before your current plan expires, having a smart home, using safety features in your home like fire alarms and deadbolts, going paperless, purchasing online, paying automatically and having multiple policies through Liberty Mutual.

      Best Hawaii renters insurance for unique coverage – Commerce / Mapfre

      Commerce, now a part of the Mapfre Insurance family, specializes in unique endorsements. They offer property-specific protection for antique or higher value homes.

      Best for customer service – State Farm

      Founded in 1922, State Farm is a household name for its popular auto insurance, homeowners insurance and life insurance policies. However, the company also offers quality renters insurance for consumers who want to protect their personal property but don’t own their home.

      J.D. Power Rating
      5/5
      AM Best Rating
      A++
      Standard & Poor’s
      AA
      SimpleScore
      4.2 / 5.0
      close
      SimpleScore State Farm 4.2
      Discounts 3
      Coverage Options 5
      Customer Satisfaction 5
      Support 4
      Accessibility 4

      When you’re in the middle of an emergency, you need the fastest claim processing to get your life back to normal. State Farm has the strongest customer approval rate of all the cheapest renters insurance companies, which has earned the company a dedicated following. State Farm got 5 out of 5 for overall satisfaction and interaction (when customers interact with their insurance provider) from J.D. Power.

      State Farm offers customizable policies to fit your needs. Their renters policies offer comprehensive loss protection caused by aircraft, falling objects, fire, freezing, hailstorms, ice, lightning, snow, theft, vandalism and riots. State Farm’s standard renters policies include:

      • Personal property coverage: After suffering a covered loss, such as a burglary or fire, State Farm’s personal property coverage will pay to replace belongings like clothing, electronics and furniture. State Farm allows you to increase coverage for certain types of property. For example, by default, standard policies pay up to $5,000 for home computers, but you can increase the coverage to $10,000. State Farm’s standard renters policies pay actual cash value, but the provider also offers optional replacement cost coverage. It’s important to understand the difference between actual cash value and replacement cost coverages, particularly if you have items that depreciate quickly, like home entertainment equipment.
      • Actual cash value coverage pays the depreciated value for your personal property. For example, if your three-year-old TV, which you bought new for $500, burns in a fire, State Farm will only pay you its depreciated value, say $200. So, in order to buy a new TV, you’ll likely have to pay a hefty sum out of your own pocket.
      • Replacement cost coverage, on the other hand, doesn’t apply depreciation to your property. So, if fire destroys your three-year-old TV, you can replace it with an equivalent current model at today’s price. If the current model of the TV costs $600, your replacement cost coverage will pay for it, minus your deductible.
      • Liability coverage: If a guest sustains an injury in your home, you could face expensive medical bills. Worse yet, if the victim sues you, you’ll also end up paying attorney’s fees and possibly a court judgement. State Farm’s renters liability coverage pays medical expenses and legal fees. You may also need to file a claim against your liability coverage if your kid breaks a neighbor’s window or you accidentally drop your friend’s cell phone. State Farm offers customizable liability policies, with personal liability coverage ranging from $100,000 to $1 million and medical payments coverage ranging from $1,000 to $10,000. Keep in mind that liability coverage will not pay your medical expenses, only those of people outside your household.
      • Loss of use coverage: If you’re displaced from your rental home following a covered loss such as a fire, your loss of use coverage will help pay your additional living expenses for up to two years. For example, if you usually pay $1,000 per month for your rental unit and you must pay $1,500 per month for temporary accommodation, you can claim $500 per month against your loss of use coverage.

      Find the Best Renters Insurance in Hawaii

      Save money on renters insurance with our simple comparison tool.

      Matching you with providers.
      We found results in
      Click at least 2-3 companies to find the very best rate.

        America’s top-rated renters insurance

        • Policies starting at just $5/month
        • Sign up in seconds, claims paid in minutes
        • Zero hassle, zero paperwork

        Best Hawaii renters insurance company for long-term coverage – Universal

        Universal Property specializes in insurance for all sorts of properties, whether its homeowners or renters. Renters insurance is widespread, with optional coverage for things like animal liability, debris removal, utility line protection and a windstorm protective devices discount.

        Hawaii renters insurance FAQs

        Coverage for Hawaii renters insurance varies depending on the coverage you need. The average person owns more than $35,000 worth of belongings. Before deciding on your liability coverage, take the time to inventory your property. You can make sure you’re covering what is important without paying for coverage you don’t need.

        There are many excellent choices for your Hawaii renters insurance, as demonstrated above. When it comes down to finding the best renters insurance, you want to find a company that suits your needs. Not all companies will offer the best rates and incentives on your home, so think about what’s most important and base your decision on that.

        Renters insurance is not required in Hawaii, but it’s always a good idea. This not only protects all of your belongings, but it will also protect you in cases like extreme weather or injury to a guest. Some landlords might also require you to have a policy.

        There are many ways to lower the cost of your Hawaii renters insurance. Don’t be afraid to ask for possible discounts. Ask about bundling because lots of companies will offer you a multi-policy discount if you bundle your auto and renters insurance policies. Paying in full often brings incentives, including lower rates for your entire policy.

        Methodology

        SimpleScore

        The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.
        For every review, our editorial team:

        • Identifies five measurable aspects to compare across each brand
        • Determines the rating criteria for each aspect score
        • Averages the five aspect scores to produce a single SimpleScore™

        Here’s a breakdown of the five aspect scores and their rating criteria for our renters insurance reviews.

        Why do some brands have different SimpleScores on different pages?

        To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

        However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare State Farm’s home insurance according to our criteria for the best home insurance, it scores a 3.8 out of 5. But when we compare State Farm according to the criteria for the best auto insurance, it scores higher, since the features the company offers can vary by the type of insurance.

        Discounts

        We awarded higher scores to insurance providers with more discounts available on their website.

        Coverage Options

        We gave providers with more renter insurance coverage options a higher score because they’re more likely to have a policy that best meets your needs.

        Support

        We awarded higher scores to renters insurance providers with the most channels for customer support.

        Customer Satisfaction

        We leveraged the J.D. Power Home Insurance Satisfaction Study℠ to see how customers rated their experience with each insurance provider. (If a provider wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)

        Accessibility

        We awarded higher scores to insurance providers that have more online and mobile features to easily manage your policy and claims.

        Lena Borrelli

        Contributing Writer

        Lena Borrelli is a Tampa-based freelance writer who has worked with leading industry titans, such as Morgan Stanley, Wells Fargo, and Simon Corporation. Her work has most recently been published on sites like TIME, ADT, Fiscal Tiger, Bankrate and Home Advisor, as well as many other websites and blogs around the world.