Saving on Homeowners Insurance in Hawaii

Hawaii has a variety of natural scenery with a warm tropical climate, a paradise indeed. However, despite being beautiful, Hawaii has also many natural disasters like hurricanes, tsunamis, earthquakes, and volcanic eruptions. Protecting your home inside and out is one of the most important things to purchase.

Preparing your property and yourself for natural disaster you need to choose a better home insurance provider that gives you the good coverage you need. However, the State of Hawaii does not require homeowners insurance unless if you have a mortgage in which the lender requires insurance on your home for the duration of your loan.

Hawaii’s Home Insurance Rate

Hawaii’s annual premiums for home insurance are on the lower costs compared to the nationwide average. Why? Because Hawaii is susceptible to hurricanes, with this a separate deductible policy may help cover the damage that may cause the storm. It also important to remember that homeowners insurance does not cover damages caused by natural disaster.

Best Homeowners Insurance Provider

Selecting home insurance with a wide range of coverage options is important. Here are some recommended homeowners insurance providers that are found in Hawaii with great reviews.

1. Allstate
A homeowners insurance provider that shines because of its excellent website and customer service. They also offer an additional discount for new construction which other insurance provider does not have. Their easy-to-use and informative website allow you to estimate your belongings value and its replacement costs.

2. State Farm
A number one homeowner’s insurance provider in Hawaii for quite some time that has 32% of premiums in the state. Their website shows a decent and straightforward information when it comes to assessing your home’s value. The company has been recently designing their website and apps for the better quality online experience.

3. Heritage Insurance
Florida-based insurance provider that only offers a single product: the annual residential windstorm/ hurricane insurance policy. Because it’s quite expensive for providers to cover, it is typically higher deductible and considered separate from the wind damage policy and standard home insurance policy. Just note that Heritage hurricane policy will only be effective once the hurricane watch has been issued by the Pacific Hurricane Center up until 72 hours after the warning has been canceled.

4. USAA
Founded by a group of Army officers meaning this provider is not available for general public. Only immediate relatives of a member or former member of the military. It is highly popular and always has a very well-rated when it comes to online reviews. The standard homeowner’s insurance policy covers most weather-related damage, fire, and theft. Automatically gives full-replacement cost coverage to repair or rebuild.

It is important to remember that the standard homeowner’s insurance will not cover flood or earthquake damage. However, there are providers do cover volcanic eruption but you’ll likely pay a higher premium. It is quite challenging for insurance providers when the property is in the high-risk zone area.

Note, before buying a home you must first determine if the property is standing in a high-risk zone. Talk to your insurance agent about it and discuss the specific premium amounts and deductible with your insurance provider.