Best homeowners insurance in Hawaii for 2023

State Farm

Best for digital tools

Rating: 3.2 stars out of 5

3.2 Bankrate Score

JD Power: 829/1,000 AM Best: A++

Average annual premium

^$ 444 for $250k dwelling coverage

State Farm Review Get a personalized quote

Average annual premium

^$ 444 for $250k dwelling coverage

State Farm Review Get a personalized quote

• Overview
• Pros and cons
• Compare rates by city

Why State Farm made our list: In addition to standard home protection, State Farm offers a fire safety program through a partnership with Ting that you won't find with other companies. State Farm will send eligible policyholders a free device that monitors your home's electrical system and alerts you of any issues via a mobile app. For those who prefer to do business in person, State Farm has many local exclusive agents across Hawaii. For tech-savvy homeowners, State Farm took the second spot in the J.D. Power 2022 U.S. Insurance Digital Experience Study for overall customer satisfaction. It is important to note that while it scored above average in the J.D. Power 2022 U.S. Home Insurance Study, State Farm received a higher-than-baseline number of complaints per the National Association of Insurance Commissioners (NAIC). Homeowners with customer service at top-of-mind may want to read policyholder reviews.

Who State Farm may be good for: Those who prioritize digital convenience and want to be able to manage their policies and claims with digital tools.

Pros

• Mobile app allows for easy policy management
• Unique partnerships
• Plenty of local agencies in Hawaii for those who prefer to do business with an agent

Cons

• More than the average amount of customer complaints, according to the NAIC
• May not be the cheapest option for Hawaii homeowners

Hawaii city	State Farm avg annual premium for 250K dwelling coverage
Honolulu	$431
Mililani	$431
Pearl City	$431
Waipahu	$431
Kailua	$431

Allstate

Best for discounts

Rating: 3.5 stars out of 5

3.5 Bankrate Score

JD Power: 815/1,000 AM Best: A+

Average annual premium

^$ 358 for $250k dwelling coverage

Allstate Review Get a personalized quote

Average annual premium

^$ 358 for $250k dwelling coverage

Allstate Review Get a personalized quote

• Overview
• Pros and cons
• Compare rates by city

Why Allstate made our list: On average, Allstate has some of the cheapest homeowners insurance rates in Hawaii, based on the carriers on our list. In addition, the company has excellent financial strength. Allstate stands out for its savings opportunities for Hawaii homeowners, with discounts for new customers, automatic payments, new homebuyers and having an active home security system. The company also has some endorsements that may help round out your policy, including yard and garden coverage, electronic data recovery coverage and business property coverage. However, Allstate does have a higher-than-average complaint index score from the NAIC, indicating that more policyholders complain about Allstate than average for a company of its size. Additionally, it scored just under the segment average for overall customer satisfaction per J.D. Power.

Who Allstate may be good for: Allstate offers standard policy options for homeowners, with some endorsements, but it really shines when it comes to discounts.

Pros

• Numerous discount opportunities for Hawaii homeowners
• Strong digital presence plus numerous physical office locations in Hawaii gives customers a choice when doing business with the company

Cons

• More complaints than average per the NAIC
• Scored just below average in the J.D. Power 2022 Home Insurance Study

Hawaii city	Allstate avg annual premium for 250K dwelling coverage
Honolulu	$358
Mililani	$358
Pearl City	$358
Waipahu	$358
Kailua	$358

Best for add-on coverage options

JD Power: Not rated AM Best: N/A

Average annual premium

^$ 521 for $250k dwelling coverage

Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

Average annual premium

^$ 521 for $250k dwelling coverage

Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

• Overview
• Pros and cons
• Compare rates by city

Why Ocean Harbor made our list: Ocean Harbor Insurance Group is a regional home insurance carrier. The company offers a wide variety of add-on coverage choices for Hawaii homeowners, including debris removal, water and sewer backup and ID recovery. There are also potential home insurance discounts for insuring a new home, having an active security system and using hurricane-proof building materials. However, Ocean Harbor has some downsides, like a lower AM Best financial strength rating than other companies we studied in the state. Based on average rate data, it also tends to be more expensive than other companies.

Who Ocean Harbor may be good for: Ocean Harbor may be a good fit for those who want an insurer that specializes in their home's region over others.

Pros

• Robust endorsement options
• Variety of add-on coverage options
• Potential discounts available

Cons

• Tends to be more expensive than competitors
• Lower AM Best financial strength rating than other companies we studied

Hawaii city	Ocean Harbor avg annual premium for 250K dwelling coverage
Honolulu	$521
Mililani	$521
Pearl City	$521
Waipahu	$521
Kailua	$521

Best for high-value insurance

JD Power: Not rated AM Best: A

Average annual premium

^$ 456 for $250k dwelling coverage

Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

Average annual premium

^$ 456 for $250k dwelling coverage

Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

• Overview
• Pros and cons
• Compare rates by city

Why AIG Property Casualty Co made our list: While AIG won't be for everyone, people with high-value homes may find the higher coverage limits and extra home protections included in AIG homeowners policies essential. However, these plans have some barriers: homes must have a dwelling coverage limit of at least $750,000 and the company does not sell standalone home insurance policies. Instead, AIG only offers home insurance coverage to AIG Private Client Group policyholders. When it comes to perks, though, AIG does include some valuable additions to its home insurance policies. Policies include guaranteed replacement cost coverage and disaster mitigation services. 

Who AIG may be good for: AIG Property and Casualty Co may be a good fit for homeowners looking for policies geared toward high-value homes.  

Pros

• High coverage limits
• Base policies include additional coverage

Cons

• Only insures homes worth at least $750,000
• Does not sell standalone home insurance policies

Hawaii city	AIG avg annual premium for 250K dwelling coverage
Honolulu	$456
Mililani	$456
Pearl City	$456
Waipahu	$456
Kailua	$456

• Hawaii home insurance rates methodology

  Bankrate utilizes Quadrant Information Services to analyze 2023 current rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:          

  • Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
  • Coverage F, Medical Payments: $1,000

  The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required). 

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

• Bankrate Score

  Our 2023 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.

  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.

  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies' coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company's discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody's and factored a company's corporate sustainability efforts. 

  Tier scores are unweighted to show the company's true score in each category out of a possible five points.

• What is the cheapest homeowners insurance company in Hawaii?

  The cheapest homeowners insurance company in Hawaii can differ between homeowners. Rates can vary based on several factors like the type and age of home, the location and more. To find the cheapest company for you, it's often best to shop around and compare rates on similar coverages from multiple companies.

• What is the best homeowners insurance in Hawaii?

  There is no single homeowners insurance company in Hawaii that is the best homeowners insurance company for everyone. Each carrier has its strengths and weaknesses, and every homeowner has different needs and wants. The Triple-I recommends getting quotes from a minimum of three companies so you can compare coverage and costs.

• How do I get homeowners insurance in Hawaii?

  To get a home insurance policy, you'll need to start by gathering quotes. Many providers offer quotes online, but you can also call most companies and may be able to visit local agencies for some providers. You'll need your name, address and some information about your house, like the year it was built, how old the roof is and the square footage. You may also be asked for your Social Security number. Once you have chosen a quote that you'd like to purchase, you may need to sign an application. If your home insurance is paid from your mortgage escrow account, you probably won't need to make a payment, but if you pay your insurance directly, you might need to pay at least a month's worth of premium to start the policy.

• What types of home insurance do I need in Hawaii?

  Homeowners insurance is not legally required in Hawaii, but if you have a mortgage or any other home loan, you may be required to carry a policy. Hawaii residents are also required to carry a separate hurricane policy to account for the extent of potential damage from tropical cyclones. You will likely want to have enough coverage to cover the rebuilding cost of your home, according to the Triple-I. It also helps to consider your liability exposure. The optional coverage types you choose will depend on your unique situation. Working with a licensed insurance agent may help you decide which coverage and levels are most appropriate for you.

• Does homeowners insurance cover flooded basements?

  It might, but it depends on why the basement flooded. Home insurance generally covers water damage from broken pipes (although not the cost to repair the pipe itself), and you might be able to add a sewer backup endorsement to cover sump pump backup. True flood damage, though, which is usually defined as an overflow of a body of water or the accumulation of surface water, is typically not covered by standard home insurance policies. For flood coverage, you'll need a flood insurance policy.