Best and Cheapest Renters Insurance in Hawaii (Aug 2024)

While State Farm is the best for $20K in personal property coverage with an average annual premium of $98 and a MoneyGeek score of 97 out of 100, the best for you depends on your needs. For instance, Allstate is best for those who value service, while DB Insurance caters best to veterans. Each option has unique strengths, so choose wisely based on what matters most to you.

State Farm stands out as the best renters insurance provider in Hawaii with the highest MoneyGeek score of 97 out of 100 and an annual premium of $98 for $20,000 in personal property coverage. This top provider skillfully balances both cost and customer service. The following providers are the two best renters insurance providers in Hawaii for the same policy:

• State Farm: MoneyGeek score of 97 out of 100 ($98 per year)
• Allstate: MoneyGeek score of 97 out of 100 ($94 per year)

Although State Farm is not the cheapest option, it still offers a good balance between customer satisfaction and affordability. However, the best choice for you will still depend on your individual needs.

Allstate offers the cheapest renters insurance in Hawaii with an annual premium of $94 for $20K in personal property coverage and a $1,000 deductible. The two cheapest providers are:

• Allstate: $94 per year
• State Farm: $98 per year

Personal property coverage helps cover the costs of replacing your belongings in case of theft, fire, or other types of damage. Cheap renters insurance policies often have low personal property coverage limits. Higher personal property coverage limits can lead to higher monthly costs, but they offer better protection if you own many personal belongings.

The cheapest renters insurance company for $20K in personal property coverage with a $2,000 deductible in Hawaii is Allstate, with an annual premium of $94. The two cheapest providers in Hawaii are:

• Allstate: $94 per year
• State Farm: $98 per year

A deductible is what you pay out of pocket before your insurance starts covering expenses. Higher deductibles typically mean lower premiums. You can see how rates change using the table below.

State Farm is the best renters insurance company for service quality in Hawaii for $20K in personal property coverage, with an annual premium of $98. The two best providers are:

• State Farm: MoneyGeek score of 100 out of 100 ($98 per year)
• Allstate: MoneyGeek score of 95 out of 100 ($94 per year)

Great customer service is crucial when choosing renters insurance because it ensures you receive the help you need promptly and effectively. For instance, when you make a claim, you want a provider who handles your request swiftly and keeps you updated every step of the way.

State Farm is the best renters insurance company for renters who need $100K of personal property coverage in Hawaii, with an annual premium of $208. The following providers are the two best:

• State Farm: MoneyGeek score of 100 out of 100 ($208 per year)
• DB Insurance: MoneyGeek score of 85 out of 100 ($220 per year)

Renters who have more personal belongings need higher personal property coverage. Personal property coverage protects your personal belongings in case of theft, damage or other covered events. Higher personal property coverage often comes at a higher cost. Therefore, it’s important to find a provider that can balance cost and great service to ensure comprehensive protection for your valuables without breaking the bank.

The best renters insurance company for those with military backgrounds in Hawaii for $20K in personal property coverage is State Farm with an annual premium of $98. The two best providers are:

• State Farm: MoneyGeek score of 97 out of 100 ($98 per year)
• Allstate: MoneyGeek score of 97 out of 100 ($94 per year)

For military members, finding the best provider means prioritizing both customer service and affordability. Balance these factors to ensure you're getting the best possible coverage and service for your unique needs.

The average cost of renters insurance in Hawaii is $131 annually, which breaks down to $11 monthly. This is lower than the average cost of renters insurance nationally, which stands at $146 annually or $12 monthly. Hawaii's rates are $15 cheaper annually compared to the national average. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits and a $1,000 deductible.

The average cost of renters insurance in Hawaii may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of damage or theft. Use the tool below to get an estimate for your renters insurance based on your needs.

The average cost for renters insurance not only varies by state, but also varies by city. For example, in Urban Honolulu, the average annual premium is $132 compared to the state average of $131 in Hawaii. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, a $1,000 deductible and a good credit score.

Multiple factors impact the cost of renters insurance in Hawaii, including location, coverage amount, and deductible. Understanding these factors is important because it helps renters make informed decisions and potentially save on their premiums.

• Location: The area where you live can affect your premium due to crime rates and weather-related risks.
• Coverage Amount: Opting for higher coverage limits will typically increase your insurance costs.
• Deductible: Choosing a higher deductible can lower your monthly premium, but you'll pay more out-of-pocket in case of a claim.
• Claims History: Renters with a history of claims may face higher premiums due to perceived risk.
• Credit Score: Insurance companies may use your credit score to determine your premium, with higher scores often leading to lower costs.

Determining your personal property coverage involves creating a personal inventory of all your belongings at home. A personal inventory is a detailed list of your possessions, including descriptions and values. Here’s a step-by-step guide to help you create your personal inventory:

1. Start With Big-Ticket Items: List all high-value items first, such as electronics, jewelry and furniture, noting their make, model and serial numbers when available.
2. Document With Photos or Videos: Take clear photographs or video recordings of your belongings, capturing any identifying marks or conditions.
3. Include Receipts and Appraisals: Attach purchase receipts, warranty cards and appraisal documents for items of significant value.
4. Store Information Securely: Keep your inventory list and supporting documents in a safe, accessible location, such as a cloud storage service.
5. Update Regularly: Review and update your personal inventory annually or whenever you acquire or dispose of items.

Renters insurance primarily protects your personal belongings from damage, but it also extends to other areas such as liability and additional living expenses. Here's what a typical policy may cover:

• Personal Property Coverage: Safeguards your possessions against covered perils like theft to help you replace them.
• Personal Liability Coverage: Protects you from legal responsibility for injuries or damage to others, such as if a guest is injured in your rental unit.
• Loss of Use Coverage: For additional living expenses if your rental is uninhabitable due to a fire, for example, loss of use coverage can cover temporary housing costs.

Renters insurance typically applies to specific events, like theft, vandalism or specific natural disasters. Here's what most policies cover:

• Fire or lightning
• Windstorm or hail
• Explosions
• Riots
• Damage caused by aircraft
• Damage caused by vehicles
• Smoke damage
• Vandalism
• Theft
• Volcanic eruption
• Falling objects
• Weight of ice, snow or sleet
• Water-related damage from home utilities
• Electrical surge damage

Although renters insurance provides a safety net for your personal property and liability, it does not universally cover all losses. For instance, damage from floods typically falls outside standard policies. Here's what else is usually not included:

• Natural Disasters: Standard policies often exclude events like floods and earthquakes.
• High-Value Items: Expensive jewelry or electronics may exceed policy limits.
• Business Equipment: Items used for business purposes may require additional coverage.
• Roommate Property: Your policy does not cover your roommate's belongings.
• Pest Damage: Infestations and damage from pests are generally not covered.
• Car Theft: Personal vehicles are covered under auto insurance, not renters insurance.

Understanding these exclusions can help you seek additional coverage if necessary, ensuring you're protected against a wider range of potential risks.

Finding the best renters insurance in Hawaii can be easy. We've answered some common questions to help you make an informed decision.