Best Hawaii Homeowners Insurance Quotes (2024)

Island Insurance offers some of the cheapest homeowners insurance policies in Hawaii, with annual premiums starting at $454.

Alani Asis
Written byAlani Asis
Alani Asis
Alani Asis
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  • Bylines with leading financial publications

Alani is a freelance writer specializing in personal finance. She aims to make complex topics more approachable through fun, digestible content.

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Ashley Cox
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Ashley CoxSenior Managing Editor
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Andrew Huang
Data reviewed byAndrew Huang
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Andrew HuangVP, Marketing & Analytics
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Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.

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Updated November 6, 2024

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The Aloha State is home to sunny weather, beautiful beaches, and rich culture. The average annual cost of home insurance is also cheaper than the national average, at $1,150 for a $300,000 policy with a $1,000 deductible.

Homeowners should also know that the state of Hawaii is vulnerable to flooding, earthquakes, and hurricanes. To protect your home, consider adding supplemental insurance for those hazards.

Here’s what you should know about comparing home insurance quotes and finding affordable coverage in Hawaii.

Quick Facts
  • Island Insurance, Universal Property & Casualty Insurance Company, and Allstate are the cheapest home insurance companies in Hawaii.

  • Fortifying your home against weather risks in Hawaii can earn you a discount on your policy.

  • Standard home insurance policies don’t cover hurricane damage in Hawaii, so you’ll need to purchase add-on coverage.

Best home insurance companies in Hawaii

Many quality home insurance companies serve homeowners in Hawaii, but the right company may differ from your neighbor’s. Evaluate your situation and needs to find the best homeowners insurance company. Start your search with the insurers below.

Insurance Company
Average Annual Premium
Best For
Island Insurance$454Cheapest rates
Universal Property & Casualty Insurance Company$610Senior homeowners
Allstate$655Company reputation
Hawaii Insurance and Guaranty$984Union members

Cheapest rates: Island Insurance

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The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
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J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
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For the most affordable homeowners policy, look no further than Island Insurance. Its average policy is 81% cheaper than the national average homeowners insurance cost. The company also offers an auto and home insurance bundle that saves customers an average of $436, according to its website.

Pros
  • 10% multi-policy discount

  • Free equipment-breakdown and identity-theft-assistance coverage

Cons
  • Limited discounts and coverages

  • Limited customer service hours

Best insurer for senior homeowners: Universal Property & Casualty Insurance Company

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
Not rated

People 65 and older account for nearly 21% of the population in Hawaii, according to Census Bureau data.[1] If you’re a homeowner age 65 or older, you’ll receive a senior discount with Universal Property & Casualty Insurance Company.

Pros
  • Affordable premiums 

  • Robust digital customer experience

Cons
  • Unknown financial stability with AM Best

  • Negative customer reviews

Best insurer for company reputation: Allstate

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.9/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
833
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$55/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$85/mo

Homeowners account for about 63% of households on the islands.[2] Allstate is the second-largest homeowners company in the nation by market share. It has strong financial strength ratings and offers several discounts, including a loyalty discount, windstorm mitigation discount, and protective device discount.

Pros
  • Competitive rates

  • AM Best financial strength rating of A+ (Superior)

Cons
  • Below-average J.D. Power customer satisfaction rating

  • More complaints received than average, according to the National Association of Insurance Commissioners (NAIC)

Best insurer for union members: Hawaii Insurance and Guaranty

Union members accounted for 24% of wage and salary workers in Hawaii, according to U.S. Bureau of Labor Statistics data.[3] If you’re a union member, you may receive a discount from Hawaii Insurance and Guaranty.

Pros
  • Low rates

  • Multiple available discounts

Cons
  • Limited digital experience 

  • Limited customer service hours

Find Cheap Home Insurance in Hawaii

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Cheapest home insurance in Hawaii

The cheapest homeowners insurance company in Hawaii is Island Insurance. Policyholders with the company pay an average annual rate of $454, or a monthly rate of $38, for a $300,000 policy. This is significantly cheaper than the average cost of home insurance in Hawaii.

The table below shows the cheapest home insurance companies in Hawaii.

Insurance Company
Average Annual Premium
Island Insurance$454
Universal Insurance Company of North America$610
Allstate$655
Hawaiian Insurance and Guaranty$984
Dongbu Insurance$1,269
AIG$1,304
First Insurance Company of Hawaii$1,456
RLI Group$1,620
State Farm$1,821

Cost of homeowners insurance in Hawaii

The average cost of home insurance for a $300,000 policy with a $500 deductible in Hawaii is $1,201 per year, but your premiums will vary based on several factors.

Your home’s ZIP code, age and condition, replacement cost, coverages, and your claim’s history are among the few factors that your insurer evaluates when setting your premiums. Essentially, your home insurance rates reflect how likely you are to file a claim and how much the insurer must pay.

Cost of homeowners insurance by dwelling coverage amount

Standard homeowners insurance policies include dwelling coverage, which protects the physical structure of your home. The more dwelling coverage you need to replace your home in the event of a total loss, the more expensive your premiums will be.

Take a look at the table below for the average annual premium of policies with a $1,000 deductible and different dwelling coverage limits.

Coverage Limit
Average Annual Premium
$100,000$556
$200,000$806
$300,000$1,150
$400,000$1,532
$500,000$1,909

Cost of homeowners insurance by deductible

A deductible is the amount you must pay before insurance disburses your claim. For example, if the insurer settles your claim for $10,000 and you have a $1,000 deductible, then you’ll receive $9,000 for repairs.

A low home insurance deductible leads to higher premiums on your policy. Meanwhile, a high deductible results in lower premiums. Before choosing a deductible, be sure you can afford it if you need to file a claim. Below, you’ll find the average cost for a policy with a $500 and $1,000 deductible for a policy with $300,000 in dwelling coverage

Deductible Amount
Average Annual Premium
$500$1,201
$1,000$1,150

How to get cheap homeowners insurance in Hawaii

While homeowners insurance coverage is essential, it’s an additional cost. Fortunately, Hawaii residents can take several steps to save on their policy:[4]

  • Shop around. Hawaii insurance companies calculate premiums differently. Comparing costs and coverages is one of the best ways to get the lowest price on the coverages you need. Shop the marketplace for competitive rates at least once yearly to ensure you’re not overpaying on your policy.

  • Bundle policies. Many home insurance companies offer discounts for bundling your home and auto insurance policy. This is usually one of the most common and effective ways to save. Some companies even offer discounts for bundling three or more insurance products.

  • Fortify your home. Homes in Hawaii are susceptible to certain damages from high winds. That’s why insurers offer discounts for making weather-resistant home improvements. Some of these improvements include installing shatterproof windows and updating your roof.

  • Implement security features. Security devices, such as smoke detectors, security cameras, and security alarm systems, are a good idea to protect your home from break-ins and fire disasters. Increased protection decreases the likelihood of filing a claim and reduces your premiums.

How much homeowners insurance do you need in Hawaii?

The amount of homeowners insurance you need in Hawaii depends on your coverage needs. You may need additional insurance for certain risks. For example, common weather risks in Hawaii may call for supplemental flood and earthquake insurance. Or, if you own high-value items like artwork or jewelry, you might purchase a personal belongings floater.

Most mortgage lenders require homeowners insurance if you have an outstanding mortgage on your home. Even if you don’t have a mortgage, insurance coverage is important to protect your investment financially from an unexpected disaster.

Standard home insurance policies include these types of insurance coverage:

  • Dwelling coverage

  • Other structures coverage

  • Personal property coverage

  • Personal liability coverage

  • Additional living expenses coverage, or loss of use coverage

Each type of coverage comes with its own coverage limits, which you and your insurer determine. Before buying a policy, it’s important to understand what home insurance policies cover to decide how much coverage you need.

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What are some of the biggest risks when owning a home in Hawaii?

The biggest risks in Hawaii are flooding, earthquakes, and hurricanes. Standard home insurance policies won’t cover those perils, but you can purchase supplement insurance at an extra cost.

Here’s what you need to know about these hazards and where to get coverage:

  • illustration card https://a.storyblok.com/f/162273/150x150/f4287230a5/climate-change-96x96-blue_013-flood.svg

    Flooding

    If you live in Hawaii, you want to protect your home from flood damage. Floods pose a risk to 31.5% of properties in Honolulu over the next 30 years, according to the First Street Foundation, a nonprofit that provides data on climate risk in the housing market. Unfortunately, standard home insurance doesn’t cover floods. So, you’ll need to buy a separate policy through the National Flood Insurance Program (NFIP) or a private insurance company that offers flood coverage.

  • illustration card https://a.storyblok.com/f/162273/x/a0c151e1ba/accidental-tearing-apart-cracking-etc.svg

    Earthquakes

    Active volcanoes cause thousands of earthquakes yearly in Hawaii.[5] Some of these earthquakes are small, but others cause major damage. Standard home insurance doesn’t cover earthquake damage, so you’ll have to buy extra coverage from a private insurer. Ask your insurance agent about earthquake coverage for your house and your personal items.

  • illustration card https://a.storyblok.com/f/162273/150x150/0194b78427/weather-96x96-orange_043-flood.svg

    Hurricanes

    In 1992, Hurricane Iniki, a level 4 storm, caused $3 billion in major damages on the islands.[6] Hurricane season is June–November, and homeowners should consider buying hurricane insurance because standard home policies in Hawaii don’t cover hurricanes. So, it’s a good idea to ask your home insurance company about its hurricane coverage options.

Hawaii homeowners insurance FAQs

If you’re shopping for a home insurance policy in the Aloha State, this additional information may help as you research your coverage options.

  • How much is home insurance in Hawaii?

    Home insurance in Hawaii costs $1,150 per year for a policy with a $1,000 deductible and $300,000 in dwelling coverage, Insurify data shows. But your rates will depend on multiple factors, including your ZIP code, age of your home, square footage of your home, and coverage levels you choose.

  • Which company has the cheapest homeowners insurance in Hawaii?

    Island Insurance has the cheapest homeowners insurance in Hawaii, with premiums of $454 per year, or $38 per month. Other affordable insurers include Universal Property & Casualty Insurance Company and Allstate, with annual premiums of $610 and $655, respectively.

  • Does Hawaii require homeowners insurance?

    No. Hawaii doesn’t require homeowners insurance, but your lender will require it if you have a mortgage on your home. Carrying this coverage is important so that if something damages or destroys your home you won’t be on the hook financially to pay for the repairs.

  • Is hurricane insurance required in Hawaii?

    No. The state of Hawaii doesn’t require hurricane insurance. But your lender will probably require you to carry this coverage as a condition of your mortgage approval. Hurricane coverage is add-on insurance that covers wind-related damage that hurricanes cause.

Sources

  1. U.S. Census Bureau. "Hawaii."
  2. U.S. Census Bureau. "Housing."
  3. U.S. Bureau of Labor Statistics. "Union Members in Hawaii — 2023."
  4. Insurance Information Institute. "How to save money on your homeowners insurance."
  5. U.S. Geological Survey. "About Earthquakes in Hawaii."
  6. Hawaii.gov. "Hurricane Insurance."
Alani Asis
Alani Asis

Alani Asis is a personal finance freelance writer with nearly three years of experience in content creation. She has landed bylines with leading publications and brands like Insider, Fortune, LendingTree, and more. Alani aims to make personal finance approachable through fun, relatable, and digestible content.

Ashley Cox
Edited byAshley CoxSenior Managing Editor
Headshot of Managing Editor Ashley Cox
Ashley CoxSenior Managing Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

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Andrew Huang
Data reviewed byAndrew HuangVP, Marketing & Analytics
Headshot of Andrew Huang, Directory of Analytics at Insurify
Andrew HuangVP, Marketing & Analytics
  • Chartered financial analyst

  • 12+ years in data analysis and marketing

Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.

Featured in

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