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Best homeowners insurance in Hawaii for 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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What To Know First
When selecting the best homeowners insurance in Hawaii, it's important to look at more than price, although that's definitely a significant factor. The Bankrate insurance editorial team — including licensed insurance agents — has created a rating system that goes beyond price. When considering insurance companies, our Bankrate scoring model utilizes average rates (based on Quadrant Information Services), financial strength, customer satisfaction and more.
To find the best Hawaii homeowners insurance companies, we've analyzed home insurance companies that provide coverage in the area and selected the top three based on our research: Allstate, State Farm and Ocean Harbor. Before simply selecting the cheapest option, it's generally a good idea to look at the other features that distinguish them. For instance, although Allstate is cheaper, on average, Ocean Harbor is a regional insurer and may have unique policy options suited to the area.
- Cost of home insurance in Hawaii: An average of $408 per year for 250k dwelling coverage
- Best home insurance companies in Hawaii: AIG, Allstate, State Farm and Ocean Harbor
- Cheap home insurance companies in Hawaii: UPC, First Fire & Casualty Insurance of HI and State Farm
On This Page
- Compare the best home insurance companies in Hawaii for 2024
- Best Hawaii homeowners insurance companies in detail
- Additional Hawaii home insurance companies to consider
- Cheapest home insurance companies in Hawaii
- How much is home insurance in Hawaii?
- What does home insurance cover in Hawaii?
- Additional home insurance coverage types in Hawaii
- Frequently asked questions
- Methodology
What to know about insuring your Hawaii home
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 |
$33
|
$395
|
||
809
/1,000 |
$39
|
$464
|
||
Ocean Harbor
|
Not rated |
N/A
|
N/A
|
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.
Bankrate's trusted insurance industry expertise
Read our full methodologyThe 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
20.7K
ZIP codes examined
1.2M
quotes analyzed
The top 4 home insurance companies in Hawaii
Best for high-value insurance
4.5
4.5
Avg. premium for $250K dwelling
Not available
Avg. premium for $250K dwelling
Not available
Customer satisfaction
831/1,000
-
Why Corebridge Financial made our list: While Corebridge won't be for everyone, people with high-value homes may find the higher coverage limits and extra home protections included in Corebridge 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, Corebridge only offers home insurance coverage to Corebridge Private Client Group policyholders. When it comes to perks, though, Corebridge does include some valuable additions to its home insurance policies. Policies include guaranteed replacement cost coverage and disaster mitigation services.
Who Corebridge may be good for: Corebridge may be a good fit for homeowners looking for policies geared toward high-value homes.
Best for digital tools
4.2
4.2
Avg. premium for $250K dwelling
$33/mo
Avg. premium for $250K dwelling
$395/yr
Customer satisfaction
829/1,000
-
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 fourth spot in the J.D. Power 2023 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 2023 U.S. Home Insurance Study, State Farm received a just below-baseline number of complaints per the National Association of Insurance Commissioners (NAIC), which may indicate that policyholders are not fully satisfied with the level of service they receive. 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.
Best for discounts
4.2
4.2
Avg. premium for $250K dwelling
$39/mo
Avg. premium for $250K dwelling
$464/yr
Customer satisfaction
809/1,000
-
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.
Best for digital tools
Avg. premium for $250K dwelling
Not available
Avg. premium for $250K dwelling
Not available
Customer satisfaction
Not rated
-
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.
Additional Hawaii home insurance companies to consider
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
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.
Finding cheap home insurance in Hawaii
In Hawaii, finding affordable home insurance requires careful comparison of various insurers due to the state's unique market challenges. Exploring and comparing different quotes from Hawaii homeowners insurance companies might help in finding substantial savings. It's vital to balance the cost with adequate protection, keeping in mind the average home insurance cost in Hawaii. By researching the best cheap home insurance in Hawaii, homeowners can have a better chance at getting quality coverage at a more affordable price. Back to topCheapest 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 $250k coverage | Annual premium for $250k coverage | Savings vs state avg. for $250k coverage |
---|---|---|---|
$21
|
$255
|
- $153 |
|
First Fire & Casualty Insurance of HI
|
$31
|
$367
|
- $41 |
$33
|
$395
|
- $13 |
|
$39
|
$464
|
+ $56 |
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.
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.
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.
Understanding home insurance costs in Hawaii
The average cost of home insurance in Hawaii is notably lower than the national average, making it one of the most affordable places for homeowners insurance. This cost, however, will be influenced by various factors unique to the region, such as the island’s susceptibility to natural disasters like hurricanes and volcanic activity. Homeowners should also be aware that standard policies in Hawaii typically do not cover wind damage from hurricanes, and additional coverage may be necessary. These regional specifics, along with the value and condition of the individual property, play a crucial role in determining the final insurance cost in Hawaii. Back to topHow much is home insurance in Hawaii?
The average cost of homeowners insurance in the Aloha State is $408 per year for $250,000 in dwelling coverage, which is significantly less than the national average of $1,759 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: $405 per year — 1 percent below state average
- Honolulu: $406 per year — 1 percent below state average
- Wheeler Army Airfield: $407 per year — 0 percent above state average
- Waipahu: $407 per year — 0 percent above state average
- Kapolei: $407 per year — 0 percent above state average
- Lanai City: $411 per year — 1 percent above state average
- Keaau: $411 per year — 1 percent above state average
- Koloa: $411 per year — 1 percent above state average
- Laupahoehoe: $411 per year — 1 percent above state average
- Wailuku: $411 per year — 1 percent above state average
*Rates are for $250,000 in dwelling coverage
Insuring your Hawaii home
In Hawaii, the unique environmental factors, such as the risk of volcanic eruptions and hurricanes, play a significant role in home insurance considerations. These natural hazards necessitate a careful evaluation of coverage options to ensure adequate protection against such events. It's important for homeowners in Hawaii to understand how their insurance policy addresses these specific risks, which can greatly impact both the coverage required and the associated premiums. Exploring comprehensive coverage options that cater to Hawaii's distinct geographical challenges can be beneficial to safeguarding your home effectively. Back to topWhat 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.
!
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 the latest rates from February 2024 for ZIP codes and carriers in all 50 states and Washington, D.C. 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 2024 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.
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. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlight where they fall short.
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2024 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, Demotech 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.