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Best homeowners insurance companies in Hawaii for 2024

Updated Apr 11, 2024
Bankrate found that the best homeowners insurance companies in Hawaii are State Farm, Allstate, Ocean Harbor and AIG Property Casualty Co.
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Compare the best homeowners insurance companies in Hawaii

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. Based on our research, and data from Quadrant Information Services, these home insurance companies offer affordable rates, multiple coverage options, generous discounts and good scores in the J.D. Power 2023 U.S. Home Insurance Study.

Insurance company J.D. Power Average monthly premium Average annual premium
831
/1,000
N/A
N/A
829
/1,000
$165
$1,982
809
/1,000
$46
$557
Ocean Harbor
Not rated
N/A
N/A
*Premiums are for $300K in dwelling coverage
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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.

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Bankrate's trusted insurance industry expertise

Read our full methodology

The home insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers information they need to make educated decisions when shopping for home insurance.

46

years of industry expertise

122

carriers reviewed

34.5K

ZIP codes examined

1.2M

quotes analyzed

The top 4 home insurance companies in Hawaii

Best for high-value insurance

Corebridge Financial

4.5

Rating: 4.5 stars out of 5

Avg. premium for $300K dwelling

Not available

Avg. premium for $300K dwelling

Not available

Customer satisfaction

831/1,000

Best for digital tools

State Farm

4.2

Rating: 4.2 stars out of 5

Avg. premium for $300K dwelling

$165/mo

Avg. premium for $300K dwelling

$1,982/yr

Customer satisfaction

829/1,000

Best for discounts

Allstate

4.2

Rating: 4.2 stars out of 5

Avg. premium for $300K dwelling

$46/mo

Avg. premium for $300K dwelling

$557/yr

Customer satisfaction

809/1,000

Best for digital tools

Avg. premium for $300K dwelling

Not available

Avg. premium for $300K dwelling

Not available

Customer satisfaction

Not rated

Additional Hawaii home insurance companies to consider

First Insurance Company of Hawaii (FICOH)

First Insurance Company of Hawaii (FICOH)

Who this may be best for

Homeowners seeking affordability

First Insurance Company of Hawaii could be a potential choice for Hawaiian homeowners, particularly those seeking affordability without compromising on customer service or financial stability. Its rates are below the state average and it offers additional savings through bundling home and auto insurance. FICOH stands out for its special hurricane coverage, which provides a predetermined payout based on storm size and proximity, regardless of actual home damage. However, it's important to note that claims cannot be filed online; they require direct communication with an agent. This carrier might be especially appealing to those living in hurricane-prone areas or anyone looking for cost-effective insurance solutions.

Liberty Mutual

Liberty Mutual

Who this may be best for

Homeowners looking for a wide array of policy add-ons

Liberty Mutual could be another option for Hawaii homeowners. It offers a wide array of policy add-ons like guaranteed replacement cost coverage, water backup protection, inflation guard coverage and flood insurance through the National Flood Insurance Program. Additionally, Liberty Mutual provides various discounts to reduce home insurance rates. While it offers extensive coverage options, potential customers should be aware that its customer experience scores are not the highest, and it received a higher number of complaints compared to other insurers of similar size in 2022. However, this carrier might be suitable for homeowners who prioritize a wide range of coverage options and are comfortable with a larger company's customer service standards.

Interested in learning more about Liberty Mutual? Learn more about the carrier with Bankrate’s review.

Cheapest home insurance companies in Hawaii

For those seeking to minimize their expenses without sacrificing quality, exploring the cheapest home insurance companies in Hawaii is a prudent step. The table below showcases the five most budget-friendly insurance providers in the state, offering a blend of competitive pricing and reliable coverage.

Carrier Monthly premium for $300k coverage Annual premium for $300k coverage Savings vs state avg. for $300k coverage
$46
$557
- $589
UPC
$51
$606
- $540
$165
$1,982
+ $836

How to get cheap Hawaii home insurance

Home insurance can provide financial security and peace of mind even if you don’t have a mortgage that requires it. Without a homeowners policy, you'll have to pay for damages, repairs or replacements out of pocket. In Hawaii, buying a home insurance policy will set you back far less than in most states. Follow the steps below to help you find the best cheap home insurance in Hawaii.

  • Assess coverage needs: Before looking for a policy, you'll want to know the types and amounts of coverage that will meet your needs. This is often based on the cost of replacing a home.
  • Shop around: To find the best rates, it often helps to pull quotes from multiple insurers so that you can see what each will offer you. When doing this, it's important to specify the same types and amounts of coverage on each quote.
  • Select a company: Once you've received your quotes, it's time to review them and select your preference. This may be the cheapest one, or it might be one that offers unique perks or coverage options.
  • Apply for a policy: Once you've selected the company, it's time to apply for a policy. You can usually apply online, over the phone or in person. Online applications tend to be the most accessible.

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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.

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Best home insurance discounts in Hawaii

Even with average rates as low as they are in Hawaii, finding lower rates won't hurt. Company discounts can be an excellent way to lower your rates further. Keep in mind that discounts vary by company and eligibility requirements vary between discounts. Below are some of the home insurance discounts that may be found across the Aloha State, as recommended by the state government's Consumer Guide to Home Insurance.

Many companies will offer you discounts on two policies if you purchase both from the same company. For instance, bundling home and auto insurance.
Adding disaster-proofing, such as storm shutters and retrofitting your roof, can net a discount with some companies.
If your roof was built recently, you may be eligible for a discount on your policy.
Insurers often offer discounts on homes that have protective devices, like monitored security systems or sprinklers to put out fires.

How to save on home insurance policy renewals in Hawaii

When it's time to renew your home insurance policy in Hawaii, there are several strategies you can employ to potentially reduce your premiums. These tips are particularly helpful given Hawaii's unique insurance market, where homeowners often seek ways to balance comprehensive coverage with affordability.

  • Review your coverage: Regularly assessing your policy to ensure it aligns with your current needs can lead to cost adjustments.
  • Ask about discounts: Check with your insurer for any qualifying discounts, such as those for security enhancements or a no-claim record.
  • Increase your deductible: A higher deductible can lower your premium, but ensure it's an amount you're comfortable paying in case of a claim.
  • Compare rates: Shop around and compare quotes from various Hawaii homeowners insurance companies before renewing to find the best rate.

How much is home insurance in Hawaii?

The average cost of homeowners insurance in the Aloha State is $1,146 per year for $300,000 in dwelling coverage, which is significantly less than the national average of $2,151 per year for the same amount of coverage.

Hawaii's low home insurance rates could be due to windstorm coverage being excluded from most home insurance policies. Hurricanes are one of the most prominent natural disasters in the area and homeowners must purchase standalone windstorm or hurricane coverage. Depending on the structure, age of the home and several other factors, the cost of hurricane coverage can be between a few hundred and a few thousand dollars per year. Hawaii is one of 19 states with a windstorm deductible that is separate from the homeowners insurance policy flat deductible. It usually ranges between one and five percent of the total policy premium.

According to Hawaii Wildfire Management Organization (HWMO), 0.5 percent of land burns every year in Hawaii, which is on par with the average amount of wildfire damage that occurs in the western states. Historically, wildfire damage is a covered peril under most home insurance policies.

Hawaii home insurance rates by city

Homeowners insurance rates in Hawaii can vary significantly based on the city you reside in. Factors such as local climate risks, crime rates and the general cost of living in different cities contribute to these variations. Below, a map and a searchable data table provide a detailed view of how insurance rates differ across various Hawaiian cities. This information can be helpful for homeowners to understand the potential cost differences in insurance premiums depending on their specific location within the state.

  • Tripler Army Medical Center: $1,141 per year — 0 percent above state average
  • Honolulu: $1,142 per year — 0 percent above state average
  • Wheeler Army Airfield: $1,146 per year — 0 percent above state average
  • Waipahu: $1,146 per year — 0 percent above state average
  • Kapolei: $1,146 per year — 0 percent above state average
  • Lanai City: $1,151 per year — 0 percent above state average
  • Keaau: $1,149 per year — 0 percent above state average
  • Koloa: $1,149 per year — 0 percent above state average
  • Laupahoehoe: $1,149 per year — 0 percent above state average
  • Wailuku: $1,149 per year — 0 percent above state average

*Rates are for $300,000 in dwelling coverage

What does home insurance cover in Hawaii?

A standard HO-3 home insurance policy is the most popular choice in Hawaii, covering your main dwelling and other structures on an open-peril basis. This means it offers protection against all risks except those specifically excluded in the policy. The HO-3 policy is a hybrid type, providing named-peril coverage for personal property, while the dwelling and other structures are covered on an open-peril basis.

Key covered perils relevant to Hawaii under an HO-3 policy include:

  • Volcanic eruptions: Given Hawaii's unique geological features, this coverage is crucial for protection against damages from volcanic activity.
  • Windstorms: Essential for protection against damages from tropical storms and hurricanes, common in the Hawaiian Islands.
  • Fire or lightning: Standard coverage that is particularly important due to the risk of wildfires in certain areas of Hawaii.

However, it's important to note that standard HO-3 policies in Hawaii do not cover all perils. Exclusions commonly include earthquakes, flooding, and damage from water backup​​​​​​.

Additional home insurance coverage types in Hawaii

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, 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:

  • Flood insurance: Damage caused by flooding is not covered under a standard home insurance policy. This is typically a separate policy, but some home insurers offer it as an endorsement. The policy may even be required if you have a mortgage or live in a high-risk flood zone. Flood insurance can be purchased through the federally backed National Flood Insurance Program or private flood insurers.
  • Earthquake insurance: Just like flood damage, earthquake damage is not usually covered by a standard home insurance policy. You can often purchase earthquake insurance as an endorsement, but if you are in a particularly high-risk area, you may need a separate policy.
  • Landscaping: Many Hawaii homeowners invest time into their yards and gardens. To offer additional protection for these external areas of your property, you may want to consider purchasing increased landscaping or garden coverage from your home insurer.

Working with a local insurance agent may be helpful when determining what coverage to purchase.

Related content:

Common Hawaii home insurance problems

Homeowners in Hawaii often encounter unique challenges when seeking home insurance, primarily due to the state's distinct geographical and climatic conditions. The islands' susceptibility to natural disasters like hurricanes, volcanic eruptions and wildfires, as experienced in the recent devastating Maui wildfires, can make finding robust and affordable home insurance more difficult. Insurers might be cautious in offering policies or may charge higher premiums to mitigate the risks associated with these natural threats. Additionally, the remote location of Hawaii can limit the number of insurance providers operating in the state, reducing competition and potentially affecting policy costs and terms.

Here are some specific challenges faced by consumers in Hawaii:

  • High risk of natural disasters: Hawaii's location in the Pacific makes it prone to various natural disasters such as hurricanes, tsunamis and volcanic eruptions. This elevated risk can lead to higher insurance premiums or even difficulty in finding coverage.
  • Limited insurance providers: The state's isolation and unique risks can result in a limited number of insurers willing to offer home insurance. This reduced competition may lead to higher prices and fewer choices for consumers.
  • Exclusions in standard policies: Standard home insurance policies in Hawaii may exclude coverage for certain risks like floods or volcanic eruptions. Homeowners may need to purchase additional policies or riders, adding to the overall insurance cost.
  • Regulatory environment: Hawaii's insurance regulations and requirements can impact the availability and terms of home insurance.
  • Impact of climate change: The increasing effects of climate change, such as rising sea levels and more severe weather events, are likely to exacerbate insurance challenges in Hawaii, potentially leading to further restrictions or higher costs in home insurance policies.

!

News that affects Hawaii homeowners

In the early morning hours on August 8, 2023, a wildfire started in Maui and rapidly became the most destructive wildfire Hawaii experienced in over 100 years. While this fire is still ongoing, Bankrate's insurance editorial team will make every effort to update readers regarding emergency news and impactful insurance coverage and regulation changes.

  • The Hawaiʻi Insurance Division issued a memorandum on September 1, 2023, in response to the wildfire disaster. This memorandum requested property and casualty insurers and surplus lines carriers to provide data related to the wildfires and wind damage, indicating an ongoing assessment of the insurance impact of the event.​
  • The wildfires in Maui were caused by high winds and dry weather. They affected areas in Lāhainā, Upper Kula, Pūlehu/Kihei and Ka‘anapali, making them the deadliest U.S. wildfires in at least 100 years. Approximately 1,550 parcels and 2,200 structures were affected​​.
  • The exact cause of the Lahaina fire is unknown, but the winds of a nearby hurricane caused the fire to spread rapidly — so fast that Hawaii's integrated outdoor warning system, composed of 400 alarms, didn't activate to alert islanders of the danger.
  • The death toll from the August 8 Maui wildfire was said to be 97.
  • 86 percent of the buildings damaged or destroyed in the Maui wildfire were private dwellings.
  • Property damage is estimated $5.6 billion, which means it is the second largest loss event in Hawaii history behind Hurricane Iniki in 1992, according to the Insurance Information Institute (Triple-I)
  • Hawaii Cares 988 has partnered with Aloha United Way 211 and Hawaii Red Cross to help people impacted and displaced by the Lahaina fires. Maui County residents can also contact FEMA Disaster Assistance for aid.
  • July 27, 2023: Universal Property and Casualty (UPC) announced its withdrawal from the Hawaii market, affecting policy renewals September 1, 2023. This impacts all of its homeowners, condo and renters policies.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze April 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $500,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply. 

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Our Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 
5
Rating: 5 stars out of 5
Overall Score
  • Cost & ratings 50%
  • Coverage & savings 30%
  • Support 20%
Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
Written by
Ashlyn Brooks

Ashlyn Brooks is a finance writer with more than half a decade of experience, known for her knowledge in areas such as taxes, insurance, investing, retirement, finance news, and banking products.

Edited by Editor, Insurance
Reviewed by Director of corporate communications, Insurance Information Institute