July 25, 2021

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The Best Hawaii Homeowners Insurance Company | Reviews.com

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The five insurance providers that we looked to find the best homeowner insurance in Hawaii included two major players in the industry (Allstate and State Farm) as well as several regional carriers. All our choices, large or small, do a good job of providing reasonably-priced, comprehensive homeowner insurance in the island-state, and were evaluated for financial stability, customer service, and breadth of coverage. That information, coupled with some well-chosen quotes, should enable you to pick the company that is best suited for you.

The Five Best Homeowners Insurance Companies in Hawaii 

Compare Hawaii’s Best Insurance Companies

  Reviews.com Score Average Price AM Best Financial Strength J.D. Power Overall Customer Satisfaction
Allstate 4 $250 A+ 829/1,000
State Farm 3.75 $369 A++ 829/1,000
First Insurance Co. of Hawaii N/A $274 A+ N/A
Hawaiian Insurance & Guaranty Co. N/A $442 B N/A
Universal North American Insurance Co. N/A $250 A- N/A

Allstate

Allstate’s strength is in the diversity of its offerings and discounts, which allow you to pick and choose the coverage that works best for your circumstances. It has a great website, with tons of useful information.

Allstate

Best for New Homebuyers

Why we chose it

Allstate’s strength is in the diversity of its offerings and discounts, which allow you to pick and choose the coverage that works best for your circumstances. It has a great website, with tons of useful information.

  • 4 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 829/1000* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Allstate’s strength is in the diversity of its offerings and discounts, which allow you to pick and choose the coverage that works best for your circumstances. It has a great website, with tons of useful information.

Pros

  • Diverse discount opportunities
  • Informative website and digital tools
  • Above average customer service

Cons

  • NAIC complaint ratio index high

Discounts available

  • Early signing discount
  • Homebuyer discount
  • Hail resistant roof discount

Unique features

Allstate’s discount list is longer than most national insurers. You could save up to 10% on your premiums if you sign up for your new policy at least 7 days before the current one expires.

*J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale

Further Reading on Allstate:

State Farm

State Farm

Best Web Experience

Why we chose it

Allstate not only offers some of the lowest premiums in Hawaii, but there are also a large assortment of discounts as well. Plus, the insurance company gets high marks for customer service, and great user-friendly tools.

  • 3.75 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 831 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Allstate not only offers some of the lowest premiums in Hawaii, but there are also a large assortment of discounts as well. Plus, the insurance company gets high marks for customer service, and great user-friendly tools.

Pros

  • Financially stable
  • Detailed quote tool
  • Informative website

Cons

  • Few discounts
  • Higher premiums

Discount available

  • Multi-policy
  • Fire,smoke, or burglar alarms discount
  • Impact-resistant roof discount

Unique features

State Farm’s comprehensive website makes it easy to get a detailed quote in minutes. You can also pay your bill, file and manage a claim, and handle most maintenance tasks either online or via the company’s app.

Further Reading on State Farm:

First Insurance of Hawaii

First Insurance of Hawaii has been noted as one of the best local providers of homeowners insurance for Hawaii residents thanks to its long history, local agencies, competitive rates, and a few generous discounts.

First Insurance Company of Hawaii

Best for Local Agents

Why we chose it

A regional company with highly experienced agents with the capability of providing coverage for all types of homes. Customization is low, but its rates can be competitive. Despite a lackluster website, most people find working with First Insurance of Hawaii to be an excellent overall experience.

  • N/A Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • N/A J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

A regional company with highly experienced agents with the capability of providing coverage for all types of homes. Customization is low, but its rates can be competitive. Despite a lackluster website, most people find working with First Insurance of Hawaii to be an excellent overall experience.

Pros

  • Solid financial backing
  • Low premium rates
  • Good customer service

Cons

  • Few additional coverage options
  • Few discounts

Discount available

  • Multi-policy
  • Renew-policy discount
  • 40% claim free discount

Unique features

The personality of a small company, with the features of a larger one. Plus, a 40% discount if you can remain claim-free for multiple consecutive years.

Hawaiian Insurance and Guaranty Company

Hawaiian insurance and Guaranty Company has been serving residents of the Aloha state for over 100 years. While its website can certainly use an update, its strong local roots and extensive discount list has made it a favorite for Hawaiian residents for decades.

Hawaiian Insurance and Guaranty Company

Best for Discounts

Why we chose it

As one of the oldest insurance companies in the state, Hawaiian Insurance and Guaranty is familiar with the challenges Hawaiian homeowners face. As such, you can expect a very personalized and informed experience for every interaction. The insurance provider also has an extensive list of discounts available, allowing you to save some serious money.

  • N/A Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • B AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • N/A J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

As one of the oldest insurance companies in the state, Hawaiian Insurance and Guaranty is familiar with the challenges Hawaiian homeowners face. As such, you can expect a very personalized and informed experience for every interaction. The insurance provider also has an extensive list of discounts available, allowing you to save some serious money.

Pros

  • Extensive discount list
  • Experience in Hawaii

Cons

  • Can be pricey
  • Older website
  • Low financial strength rating

Discounts available

  • Multi-policy
  • Security systems discount
  • Loss free discount
  • Newly purchased home discount
  • Superior construction discount
  • Union member discount

Unique features

This insurance provider boasts a large number of discounts that most homeowners won’t have any trouble getting. It also has a local touch that helps improve its customer service experience.

Universal North American Insurance Co.

Though the Universal North American Insurance Company is smaller than others, it does have some solid financial stability giving it a good “A-“ AM Best rating. The company also can tout some highly competitive homeowners insurance premiums, as well as a good customer service team.

Universal North American Insurance

Best for Customer Service

Why we chose it

Universal North American Insurance Company lacks a modern website, but partially makes up for it by supporting an above average 24/7 customer service. However, what Hawaiian homeowners will really find attractive are the astonishingly low premiums offered – going as low as $250 per month.

  • N/A Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • A- AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • N/A J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Universal North American Insurance Company lacks a modern website, but partially makes up for it by supporting an above average 24/7 customer service. However, what Hawaiian homeowners will really find attractive are the astonishingly low premiums offered – going as low as $250 per month.

Pros

  • 24/7 customer service
  • Online claim tool
  • Low premiums

Cons

  • Hard to use website
  • Few discounts

Discounts available

Paperless billing discount

Unique features

24/7 customer service is available for all policy holders. The company also has some incredibly low premiums that meet or beat the competition.

Average Cost of Homeowners Insurance in Hawaii

Residents of Hawaii can expect to pay around $1,102 per year for homeowners insurance which is slightly lower than the  NAIC national average of $1,211. However, many homeowners pay much less, around $300.

This is because home valuation greatly determines the cost of homeowners insurance. Since Hawaii has limited space and is filled with prime properties, the state-wide average increases.

Home insurance add-ons that will further protect you

Due to being an island state that does get tropical storms and hurricanes, Hawaii homeowners should certainly look at acquiring flood insurance. Many homeowners insurance companies allow you to do this directly through them. If yours doesn’t then you need to go to the National Flood Insurance Program instead.

According to the U.S. Geological Survey, Hawaii experiences thousands of earthquakes every year. Most homeowners insurance policies don’t include earthquake coverage in their basic policies, which means that you may have to pay extra to get this added protection. Most of the seismic activity is imperceptible and is caused by magma movement from volcanoes. But the earthquake record for the state shows an average of one magnitude 6 or greater earthquake every 10 years, so you might want to get this coverage added to your policy.

The Cheapest Homeowner Insurance Companies in Hawaii

Largest Companies by Market Share in Hawaii Average Annual Premium
Allstate  $250.00
Universal North Amer Ins Co $250.00
First Insurance Co of Hawaii $274.00
State Farm $369.00
Hawaiian Ins & Guar Co Ltd $442.00

Cost of Homeowners Insurance by Age of Home

Age of Home (years) Sample Annual Premium
0-10 $326
10-25 $419
25-50 $423
50+ $423
Average $398

Top 3 Cheapest Homeowners Insurance Companies in Hawaii

  • Allstate- $250
  • Universal North American Insurance – $250
  • First Insurance Company of Hawaii– $274

Top 2 Most Expensive Homeowners Insurance Companies in Hawaii

  • State Farm – $369
  • Hawaiian Insurance & Guaranty Company – $442

Resources Helpful for Hawaii Homeowners 

Different local communities in Hawaii offer home repair and improvement programs such as the Honolulu city and county. Residents should take advantage of these opportunities to protect their homes for the future.For those first time buyers looking to acquire a home, there’s the Hula Mae Mortgage Loan Program that can help individuals or families acquire a 30-year mortgage at extremely low rates.

Homeowners Insurance FAQ

Homeowners insurance is not legally required in Hawaii. However, it is a requirement for almost every lender if you want to get a mortgage.

Allstate currently offers the cheapest homeowners insurance policy in Hawaii at just $250 per year.

If you live at sea level or on the coast of Hawaii, then you should definitely look at adding flood insurance to your homeowners insurance policy.

Volcano insurance and lava insurance isn’t an additional thing you can get. If you live in Hawaii, your normal homeowners insurance will cover damage caused by lava or volcanoes.

Methodology

We evaluated the companies based on their customer rating and experience, financial stability, and coverage to determine the best providers. To compare home insurance companies across the board, we then calculated a Reviews.com score based on the following:

  • Customer Ratings — Customer ratings are an indication of satisfaction with the process of filing a claim. We measured this using J.D. Power Homeowners Satisfaction ratings.
  • Coverage — As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available. 
  • Confidence — It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength will not have issues paying out claims, regardless of the amount. However, companies with weak financial strength might not be able to pay out claims. We measured this using AM Best’s ratings, which specializes in assessing the financial strength of insurance companies.
  • Customer Experience — The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the NAIC National Complaint Index.

About the Authors

The Reviews.com staff is dedicated to providing you with all the deep-dive details. Our writers, researchers, and editors came together from Charlotte, Seattle, San Juan, Fort Worth, Fort Lauderdale, San Diego, and Chicago to put this review together.

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