Hawaii Homeowners Insurance Calculator: Estimate Your Policy Cost

Your location has a significant impact on the cost of your homeowners policy. If you live in an area that is prone to natural disasters like hurricanes, insurers will consider it risky to insure you and charge higher rates. Similarly, if your neighborhood in Hawaii has a higher theft rate or risk of fires, your homeowners insurance cost will increase.

Dwelling coverage protects you against the cost of repairing or replacing your home’s physical structure if it’s damaged because of a covered peril. It’s essentially the cost of rebuilding your home. It’s best to have an idea of how much it would cost to rebuild your home to know how much dwelling coverage you’ll need. The average dwelling coverage amount in Hawaii is $500,000.

Your deductible refers to the amount of money you have to pay when filing a claim before your insurance coverage kicks in. For instance, if you choose a policy with a $2,000 deductible and file a claim worth $10,000, your insurance provider will only pay $8,000. Choosing a policy with a higher deductible will result in a lower premium. However, you will have to pay more out of pocket.

If an accident on your property results in injury, illness or death of someone or damage to someone else’s property, liability insurance will help you compensate them. It can cover costs like legal expenses, property replacement costs and more. MoneyGeek recommends buying enough liability coverage to cover your assets. Even if you buy tens of thousands of dollars worth of liability coverage, it may only cost a few dollars monthly.

Personal property coverage protects you against the cost of theft or damage to your items, including furniture, electronic items, jewelry and more. You should buy enough personal property coverage to pay for the value of your personal belongings. Use MoneyGeek’s personal property calculator below to estimate your personal property’s value and understand how much coverage you need.