Insurance
Hawaii Homeowners Insurance Calculator: Estimate Your Policy Cost
Updated: November 21, 2024
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MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
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Rates updated:
Dec 24, 2024
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MoneyGeek analyzed different companies and found that Allstate is the ideal option for the most affordable homeowners insurance in Hawaii.
If you’re looking for a balance between cost and affordability, we also researched the providers offering the best overall homeowners insurance in Hawaii.
How to Estimate the Cost of Your Homeowners Insurance Policy in Hawaii
The cost of homeowners insurance in Hawaii varies significantly based on individual factors, including your location, credit score, dwelling coverage and more.
You can use MoneyGeek’s Hawaii homeowners insurance calculator to get a personalized quote by entering the following information.
Hawaii
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
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.
Deductible
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.
Liability
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
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.
Credit Score
Insurance providers also analyze your credit score before determining your homeowners insurance expenses. If you have a lower credit score, the insurers would consider you risky as you’ll be more likely to file a claim. You will have to pay higher rates for a policy if you have a bad credit history.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
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Average Cost of Home Insurance in Hawaii
Based on MoneyGeek's analysis, Hawaii is the most affordable state for homeowners insurance. If you're looking for a policy in the state, it costs an average of $432 per year for $250K dwelling coverage. The average cost is around 82% less than the national average.
If you want to get more or less dwelling coverage, see the table below for Hawaii's average cost by coverage level.
Average Annual Premium in Hawaii for Homeowners Insurance
| $100,000 | $220 |
| $250,000 | $432 |
| $500,000 | $764 |
| $750,000 | $1,174 |
| $1,000,000 | $1,581 |
| $2,000,000 | $3,408 |
| $3,000,000 | $5,225 |
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To know how much dwelling coverage you will need, it’s essential to understand the total cost of rebuilding your home since you will want this coverage to pay the full cost to rebuild your home if necessary.
While your insurance company can help you estimate your home’s rebuilding cost, you can also evaluate it independently by hiring a professional home appraiser.
Many factors determine your home’s replacement cost, including its age, structure, materials used and other important factors.
For additional peace of mind, consider investing in extended replacement cost, guaranteed replacement cost and inflation guard coverage.
Frequently Asked Questions About Home Insurance in Hawaii
MoneyGeek answered the following frequently asked questions to help you understand the cost of a homeowners policy in Hawaii, how it works and other essential details.
How much does homeowners insurance cost in Hawaii?
MoneyGeek’s research shows Hawaii is the most affordable state for homeowners insurance in the U.S. On average, it costs $432 per year to buy $250K in dwelling coverage in the state.
How do I know how much dwelling coverage to get?
In Hawaii, the average dwelling coverage amount is $500,000. Since dwelling coverage helps you rebuild or repair the physical structure of your home, it’s wise to know the exact cost of rebuilding your home in order to understand how much dwelling coverage you should get.
Insurance
Methodology
To determine the average cost of homeowners insurance in Hawaii, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance. This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius from the fire department
- Assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.