Best home insurance company for digital tools
State Farm
3.2 Bankrate ScoreExplore Bankrate's review
- J.D. Power:
- 835 /1,000
- AM Best:
- A ++
- Avg. annual premium for 250k dwelling
- $ 434
Explore Bankrate's review
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation of . Our content is backed by Coverage.com LLC, a licensed entity (NPN: 19966249). For more information, please see our
Hawaii is one of the most beautiful places to own a home, and one of the cheapest states for homeowners insurance, on average. But if you are searching for the best homeowners insurance in Hawaii, it’s important to consider factors besides price. Bankrate used a unique review methodology, including reviewing premium data from Quadrant Information Services, to identify some of the best Hawaii homeowners insurance companies to help you find a provider that meets your coverage needs.
To find the best Hawaii homeowners insurance, we reviewed some top Hawaii home insurance companies using our unique methodology. Based on the findings, we assigned each company a Bankrate Score out of five points. Bankrate Scores are calculated using factors like affordability, coverage options, customer service, financial strength and online and mobile tools.
When comparing home insurance companies in Hawaii, using Bankrate Scores to guide your search can be helpful. Companies that receive a high score are generally well-rounded, with good offerings across the board. On the other hand, low Bankrate Scores may indicate shortcomings in multiple areas, such as price or customer satisfaction.
Based on our review of the top Hawaii home insurance providers, Allstate, Ocean Harbor Insurance Group and State Farm stand out as some of the best carriers. These home insurance companies offer affordable rates, multiple coverage options, generous discounts and good ratings in the J.D. Power 2022 U.S. Home Insurance Study.
Insurance company | Average annual premium | J.D. Power | AM Best | |
---|---|---|---|---|
State Farm
3.2
Bankrate Score
|
Average annual premium
$434
|
J.D. Power
835
/1,000 |
AM Best
A++
(Superior)
|
Read review |
Allstate
3.5
Bankrate Score
|
Average annual premium
$358
|
J.D. Power
829
/1,000 |
AM Best
A+
(Superior)
|
Get a quote |
Ocean Harbor
|
Average annual premium
$514
|
J.D. Power
Not rated |
AM Best
Not rated
|
Get a quote |
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
*Average rates are for annual policies with $250,000 in dwelling coverage
Best home insurance company for digital tools
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Best home insurance company for discounts
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Best home insurance company for add-on coverage options
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The average cost of homeowners insurance in the Aloha State is $378 per year for $250,000 in dwelling coverage, which is significantly less than the U.S. national average of $1,383 per year. It’s also much cheaper than nearby states along the Pacific Ocean, like California ($1,084 per year) and Oregon ($704 per year).
Hawaii’s low home insurance rates could be due to the state’s relatively low risk of incurring property losses from natural disasters. Additionally, because Hawaii homeowners with a mortgage are required to carry a separate hurricane insurance policy, the required expense may play a part in the low-cost standard home insurance policy.
However, your home insurance premium will vary based on more than a dozen rating factors, according to the Insurance Information Institute (Triple-I). For instance, the age and construction of your home, replacement cost, property claims history, coverage and deductibles chosen, proximity to a fire station and even your marital status all contribute to your rate.
The cost of your home insurance will also depend on where you live. In the table below, you can see the average cost of home insurance in various cities around Hawaii:
Although Hawaii is relatively safe from the impacts of many natural disasters, such as tornadoes, hailstorms and blizzards, there are still state-specific causes of loss and insurance considerations to make when buying property insurance. These factors could help you determine what coverage types are right for you.
The most common causes of property losses in Hawaii are floods, earthquakes, wildfires and hurricanes.
Understanding these common causes of damage can help you know what kind of insurance protections to purchase. Perils such as earthquakes, floods, and hurricanes are typically excluded from a standard homeowners policy and require an additional policy to have coverage.
In addition to standard home insurance coverage types like dwelling coverage, personal property coverage and liability coverage, you may want to consider tailoring your policy to Hawaii’s unique risks. For example, though uncommon, hurricane damage is not included in standard Hawaii home coverage and requires a separate policy. Here are some additional coverage options you might want to consider:
Working with a local insurance agent may be helpful when determining what coverage to purchase.