Hawaii Homeowners Insurance

The island of Hawaii is an absolutely amazing place to call home. And while its tropical environment means that homeowners don’t have to worry about ice and snowstorms in winter, natural disasters are absolutely possible and can occur at any time. In case of an earthquake, flood – or heaven forbid, a repeat of the devastating Hurricane Iniki in 1992 – it is very important that homeowners here get proper Hawaii homeowners insurance coverage.

Although not required by law, homeowners insurance in Hawaii may be required by your lender for the duration of your mortgage. Whether you have mortgage on your home or not, however, having an uninsured or under-insured home in a state where property values are higher than average leaves you vulnerable in the event of a disaster.

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When researching insurance coverage options in Hawaii, keep the following in mind:

  • Earthquake damage (possible everywhere in Hawaii)
  • Flood/landslide damage
  • Volcano/lava damage (check your home’s lava zone to see the likelihood of this happening)

Here are the top 3 insurance providers in Hawaii:

State Farm: Currently the largest provider in Hawaii, with over 33{22208a55700cbb7beaf8dde94ccfb5c623055f8fb5d593660fcb30af3ced07e7} of total premiums in the state. Very competitive pricing.

First Insurance Co. of Hawaii (FICOH): A very popular local provider that has served Hawaii residents for over 100 years. Currently boasts an A+ (superior) rating from A.M. Best for financial strength.

USAA: A provider catering to military and their families, USAA is also very popular thanks to the large military presence in Hawaii. USAA has earned the highest possible rating (A++) from A.M. Best.

For more detailed information/comparison of insurance companies and premiums in Hawaii, view the Hawaii Department of Commerce and Consumer Affairs Insurance site.