Average Cost of Homeowners Insurance in Hawaii (2024)

In Hawaii, the average cost of homeowners insurance in 2024 is $454. This is notably less than the national average of $2,423. Aside from the amount of coverage you get on your home, the insurance provider has the largest impact on premiums. The difference between the lowest and highest premium amounts averages $547.

If your rates have recently increased, our analysis of the cheapest policies in Hawaii may offer more affordable options. Remember, the insurance provider can significantly affect your premium costs.

In Hawaii, the average homeowners insurance premium is $454 for policies with specified coverage amounts. This rate is notably less than the national average of $2,423.

Selecting the right amount of home insurance is key. Your policy should be robust enough to rebuild your home and replace belongings after a loss. For detailed guidance, consider how much coverage you need. For example, if you choose a policy with $100K in dwelling coverage, the annual premium is $271. However, for a larger home needing $500K in dwelling coverage, the annual premium increases to $911. These figures reflect the direct impact of coverage amounts on the insurance premiums you'll pay.

When shopping for homeowners insurance in Hawaii, premium costs can vary significantly among providers for comparable coverage. For instance, DB Insurance offers a policy at $256 annually, which is considerably lower than the state average, while Hawaiian Insurance and Guaranty Company's premium stands at $735, reflecting a notable difference for similar protection.

For those seeking quality insurance options, there are plenty of high-quality insurance providers in Hawaii in Hawaii. Differences in underwriting practices, company risk assessments and regional considerations can influence premium prices across insurers.

The type of roof on your home influences your homeowners insurance premium, albeit to a lesser extent than coverage amount and claims history. In Hawaii, homes with composition roofing, a cost-effective option, do not see a variation in premiums due to roof type, with the average premium remaining at $454.

Construction materials influence costs. Superior construction materials, known for their resistance to certain perils, such as fire, can lead to lower insurance rates. However, in Hawaii, the difference in premiums between homes with superior construction and those with standard frame construction is relatively modest, with superior construction averaging $381 in premiums compared to $454 for frame construction.

Use the dropdowns on the table below to see how premiums change based on your home's materials.

Homeowners insuring new construction in Hawaii can expect to pay an average annual premium of $309, which is lower than the $454 average for existing homes. This cost reduction is typically due to modern materials and adherence to current building codes enhancing safety and durability. The table below displays the premium differences for various coverage levels in new versus existing homes.

Hawaii homeowners who have been claim-free for five or more years pay an average annual premium of $454 for their insurance. In comparison, those with one claim in the past five years see an average increase of $24, bringing their premium to $478. Homeowners with two claims within the same timeframe face a further increase, with an average annual premium of $492, which is $38 above the baseline average. These figures illustrate the financial benefit of maintaining a claim-free record.

Getting a handle on homeowners insurance costs in Hawaii is within your reach. By exploring your options and understanding the market, you can find a policy that fits your budget. Here's how to find the best deal.

Hawaii homeowners can unlock savings by bundling their home and auto insurance policies. According to MoneyGeek's analysis, average savings in Hawaii range from $58 to $118, with an average percent savings of about 6%. This multipolicy approach not only simplifies your insurance management but also trims down the combined cost of your premiums.

Hawaii offers several homeowners insurance discounts to help lower your costs.

• Loyalty discounts: For long-term policyholders.
• Protective devices: Like smoke detectors or security systems.
• Claims-free discounts: For homeowners without recent insurance claims.

For comprehensive insights on saving with discounts, explore our guide on how to save with discounts. Inquiring about available discounts when obtaining a quote can lead to significant savings.

Use the resources below to find affordable coverage or calculate potential costs.

• Hawaii Department of Commerce and Consumer Affairs: Official state resource for insurance regulations
• Affordable Home Insurance in Hawaii: Find cost-effective options for your home.
• Hawaii Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in Hawaii: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.