MoneyGeek chose Hawaii's best general liability insurance companies by analyzing factors including price, customer satisfaction, financial stability and quote processing times. Thimble is the best and cheapest company overall in the state. For limited liability companies (LLCs) with 20 workers, its average monthly premium is about $51. For sole proprietors with no employees, it is approximately $22.
Best General Liability Insurance in Hawaii (2024)
Updated: December 20, 2024
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Key Takeaways
In Hawaii, Thimble is recognized as the best general liability insurance provider according to MoneyGeek. It has received high marks for its overall performance, including a MoneyGeek score of 93 out of 100. Thimble is lauded for its affordability, particularly for sole proprietors and LLCs with 20 workers.
- For LLCs with 20 employees, Thimble offers the most affordable insurance option, with an average monthly premium of about $51.
- For sole proprietors with no employees, the rate is approximately $22 per month.
These rates are for a policy with an aggregate limit of $2 million, an occurrence limit of $1 million, and a $0 deductible. Thimble's high score and competitive pricing make it an ideal choice for businesses seeking general liability insurance in Hawaii.
When it comes to choosing affordable general liability insurance in Hawaii for sole proprietors, Thimble stands out as the most economical provider. With a stellar MoneyGeek score of 95 out of 100, Thimble offers general liability insurance for sole proprietors at an exceptionally low average monthly premium of just $22. This makes Thimble the most affordable option in the state for individuals operating as sole proprietors without employees.
Given that affordability is a primary concern, Thimble's pricing is highly competitive, offering significant value for business owners seeking fiscal efficiency. Whether you're just starting your business or looking to manage expenses carefully, Thimble provides reliable coverage at a budget-friendly rate, ensuring that you have the protection you need without breaking the bank.
For a Limited Liability Company (LLC) in Hawaii with 20 employees, Thimble is identified as the best general liability insurance provider. According to MoneyGeek's analysis, Thimble ranks highly in terms of price, customer satisfaction, and financial stability, with a MoneyGeek score of 93 out of 100. The average monthly premium for an LLC with 20 workers is about $51, making it the most affordable option in the state for that employee count.
Thimble's attractive combination of affordability and financial stability, as indicated by their competitive rates and high MoneyGeek score, makes it a reliable choice for general liability insurance in Hawaii.
Why Trust MoneyGeek? We collected 1,229 general liability insurance quotes and analyzed cost information alongside customer satisfaction and financial stability reports to determine the best general liability insurance companies for small businesses in Hawaii.
Coverage costs and company information for general liability insurance providers in Hawaii were last updated in 2023.
1,229Quotes Analyzed
6 Companies Compared
50 Zip Codes
Best Overall General Liability Insurance in Hawaii
According to MoneyGeek ratings, Thimble is Hawaii's best general liability insurance provider, with a score of 93 out of 100. The table below shows how we rated each of the Hawaii companies we looked at, as well as their MoneyGeek scores and average premiums.
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to rank the best general liability insurance in Hawaii:
- Affordability for LLCs: 30%
- Affordability for sole proprietors: 30%
- Customer satisfaction: 20%
- Financial stability: 15%
- Online quote process: 5%
MoneyGeek used two business profiles to gather general liability quotes:
- An LLC with five years in business, 20 employees, $5 million in annual revenue and $1,250,000 in annual payroll costs.
- A sole proprietorship with five years in business, no employees, $500,000 in annual revenue and no payroll costs.
| Thimble | 93 | $22 | $51 |
| Next | 87 | $25 | $25 |
| Hiscox | 82 | $29 | $145 |
Best OverallScore: 93
4/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS
Faster quote processing time
Cheapest for sole proprietors
Strong financial stability
CONS
Received more customer complaints
More expensive for LLCs
Company Highlights
General liability insurance from Thimble is the best option in Hawaii, and its quotes for sole proprietors are the cheapest. If you own an LLC, you can get insurance for roughly $51 per month, while sole proprietors only have to pay around $22 per month.
The company received more customer complaints in Hawaii, indicating the insurer is not the best for customer satisfaction. An excellent rating of A+ from AM Best shows the company’s financial strength, so you can be assured that the insurer is prepared to financially protect your business.
Cheapest General Liability Insurance in Hawaii
Thimble’s general liability insurance in Hawaii is the cheapest option in the state, at only $51 for LLCs and $22 for sole proprietors.
To assess companies in this area, we determined an affordability score that incorporates the monthly fees for LLCs and sole proprietors, each of which is weighted 50%. However, the company that received the cheapest overall rating might not be the most affordable for both sole proprietors and LLCs.
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to find the cheapest general liability insurance in Hawaii:
- Affordability for LLCs: 50%
- Affordability for sole proprietors: 50%
CheapestScore: 97
4/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS
Affordable rates for sole proprietors
Fast quote processing times
High financial stability rating
CONS
More expensive LLC rate
Company Highlights
Thimble was found to be the cheapest company offering general liability insurance in Hawaii. If you go with Thimble, you can expect to pay about $51 for LLCs and $22 for sole proprietors.
With a great AM Best rating, you will be financially well protected with the insurer, and it can be a caveat. It also offers fast estimates if you want to get a quote.
Best General Liability Insurance for Employers in Hawaii
A MoneyGeek score of 91 out of 100 earned Thimble the top spot in terms of general liability insurance providers for Hawaii employers. The average monthly policy cost for this company is $51.
We ranked LLCs with 20 employees by average monthly cost. General liability insurance premiums can depend on staff numbers. Having fewer than 20 employees may cost less, while more than 20 employees could cost more.
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to find the best general liability insurance for employers in Hawaii:
- Affordability for LLCs: 60%
- Customer satisfaction: 20%
- Financial stability: 15%
- Online quote process: 5%
Best for EmployersScore: 91
4/5LLC Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS
High financial stability
Faster quote processing
CONS
High customer complaints
Not the cheapest option
Company Highlights
Thimble received high financial stability ratings in our analysis, which places it in the top spot for LLCs in Hawaii looking for general liability insurance. Its policies cost an average of $51 per month for LLCs with 20 employees. The rate is the state’s second-cheapest.
AM Best gave a high financial strength rating to the insurer, which means it can protect its policyholders financially. However, it received a high complaint score, which indicates you might not be completely satisfied with the service you get from this insurer.
Best General Liability Insurance for Sole Proprietors in Hawaii
With a 95 out of 100 score from MoneyGeek, Thimble is the top pick for Hawaii sole proprietors looking for general liability insurance. The average cost of insurance from this company is $22 per month.
Average costs for sole proprietors were used to calculate the rankings for companies in this category. General liability insurance premiums might be higher for those working in riskier areas like construction.
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to find the best general liability insurance for sole proprietors in Hawaii:
- Affordability for sole proprietors: 60%
- Customer satisfaction: 20%
- Financial stability: 15%
- Online quote process: 5%
Best for Sole ProprietorsScore: 95
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS
Cheapest insurer for sole proprietors
Faster quote processing
High financial strength
CONS
Receives more customer complaints than other insurers analyzed
Company Highlights
Thimble has the best general liability insurance in Hawaii for sole proprietors, with its policies costing an average of $22 per month. This is the cheapest in the state. You also get your quotes faster than with other insurers we evaluated.
The strong financial strength Thimble comes with is evident in its rating from AM Best. You can rest assured you are financially protected with this insurer. However, the company received more complaints from policyholders, which means its customer satisfaction is subpar.
Do You Need General Liability Insurance in Hawaii?
In contrast to workers' compensation and commercial vehicle insurance, general liability insurance is not mandated by state law. However, it may be necessary in order to acquire a company license or to be awarded contracts in some fields.
General liability insurance offers protection for the following:
- Third-party bodily injuries: General liability insurance can be used to help cover the medical expenses of customer injuries that happened on your business's property.
- Third-party property damage: General liability insurance will pay for repairs or replacement of damaged property that was caused by your business or its employees.
- Personal and advertising injury: If the company or its employees are sued for slander, libel or copyright infringement, the general liability insurance will cover the associated legal fees and damages.
In Hawaii, businesses with at least one employee are required to purchase workers' compensation insurance in addition to other types of business insurance. Furthermore, they must purchase commercial auto insurance for any company-owned vehicles they drive, with the following minimum limits:
- $20,000 per person
- $40,000 per accident for bodily injury
- $10,000 for property damage
SMALL BUSINESS RESOURCES IN HAWAII
The Hawaii Small Business Development Center (SBDC) offers business advisory services, including but not limited to business planning strategies, marketing strategies, acquisitions, operations management and projections. Its services are underwritten through monetary resources from the U.S. Small Business Administration and the State of Hawaii.
How Much Is General Liability Insurance in Hawaii?
In Hawaii, an LLC with 20 employees pays an average of $74 monthly for general liability insurance vs. $25 for a sole proprietor with no employees.
These rates are for a policy with an aggregate limit of $2 million, an occurrence limit of $1 million and a deductible of $0. The most that an insurer will pay out in claims over the policy period is its aggregate limit, whereas the maximum amount it will pay out for a single claim is its occurrence limit. The deductible is the amount of money business owners must spend out of their own pockets before their insurance policy kicks in.
Factors That Impact General Liability Insurance Costs in Hawaii
General liability insurance prices vary depending on the type of business and these crucial elements:
Policy limits
General liability insurance includes aggregate limits and occurrence limits. While the former indicates the total amount your insurance will pay out over the duration of the policy, the latter depicts the overall amount your insurer will likely pay for each claim. A higher premium will be charged for policies with higher limits, while lower premiums can be obtained by having lower limits.
Number of employees and payroll costs
Your premiums will vary substantially depending on how many employees work in your company. General liability insurance will be more expensive if your workforce is large. This is evident in the $49 price difference between general liability insurance for LLCs and sole proprietors in Hawaii.
Business location
Your company's premiums may also be affected by your location. Companies located in densely populated areas are charged a higher premium due to the increased likelihood of submitting a claim. The statewide averages we found can vary based on the city your business operates in.
Claims history
Rates are often lower for companies that haven’t filed claims previously than for those that have filed claims in the past. This is because companies who have previously filed claims are viewed as riskier to insure.
Industry
A company's general liability insurance premiums are also influenced by its industry. A high-risk industry, such as construction, can significantly increase the cost. The table below shows how the average cost of general liability insurance in Hawaii differs among different types of businesses.
| General Contractor | $114 | $3,020 |
| Software Development | $25 | $74 |
| Cleaning | $55 | $3,163 |
Frequently Asked Questions About General Liability Insurance in Hawaii
Your specific business requirements and other variables will impact the best general liability insurance policy for your company. We answered some frequently asked questions about general liability insurance in Hawaii to provide you with more in-depth information.
Which company has the best general liability insurance in Hawaii?
Thimble offers Hawaii's best general liability insurance overall, with a good blend of customer satisfaction and affordability. However, factors such as the company size, employee count and desired levels of coverage can affect which option is ideal for you.
Which company has the cheapest general liability insurance in Hawaii?
Thimble earned the top spot for affordability for general liability insurance in Hawaii. It offers excellent financial stability. Your employee count, among other things, could determine which option is the cheapest for you.
What does general liability insurance cover in Hawaii?
Third-party bodily injury and property damage, personal injury and advertising injury are typically covered under general liability insurance policies in Hawaii.
Does Hawaii require businesses to have general liability insurance?
Despite the fact that Hawaii law does not require business owners to carry general liability insurance, it is prudent to get a policy in order to safeguard your company's finances from potential litigation.
About Melissa Wylie
Melissa Wylie is the Content and SEO Manager at MoneyGeek, with nearly a decade of editorial experience and six years of work in financial content focused on small businesses. She previously held SEO positions at Bankrate and LendingTree, with bylines on ValuePenguin and MagnifyMoney.
Wylie has a journalism degree from the University of North Texas. Her strong foundation in journalism helps her craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.
sources
- Hawaii SBDC. "Services." Accessed December 20, 2024.
- Thimble. "Insurance Ratings." Accessed December 20, 2024.