With the Aloha State's high real estate prices, homeowners have enough financial burden to bear without paying sky-high premiums on their insurance; this is one of the main reasons why Hawaii home insurance quotes are so important. Whether you're shopping for your first policy or you've had a policy in place for years, checking out what the competition has to offer is a good idea. If you're like many Hawaii homeowners, insurance is not only a good idea to have, but required by a lender; since you have to have it anyway, why not make sure you're getting the best deal around? Here are the ways that Hawaii insurance quotes are helping people like you, as well as a few tips on lowering your current insurance costs, no matter who your provider is.
The Average Cost of Hawaii Home Insurance
Despite the high real estate prices, Hawaii home insurance is relatively inexpensive when compared to many mainland U.S. states. In fact, when we look at HO-3 policies (the most common form of home insurance in the nation) data from the National Association of Insurance Commissioners shows that the $776 a year average paid for Hawaii home insurance is actually lower than the countrywide average of $804. This is good news for the Aloha State at large, but because individual policies can be much higher or lower than the statewide average, this figure is merely a starting point when examining local policies.
Additions to Hawaii Homeowners Insurance
Hawaii's unique climate and geography among U.S. states leaves many standard home insurance policies looking a little lacking. Homes in high lava zones are in a particularly rough spot, as some major insurance companies will shy away from even offering policies for such houses; often owners of these homes must look to the Hawaii Property Insurance Association (HPIA) to get coverage, often at a relatively expensive rate. Since typical home insurance policies do not cover flood or earthquake damage, Hawaii residents looking for these protections will have to pay for additional coverage, as well. The good news is: Though some of these particular perils might offer little wiggle room when it comes to purchasing coverage, your primary home insurance policy is far more flexible.
Hawaii Home Insurance Discounts and Alterations
Discounts and policy alterations can definitely ease the blow of pricey home insurance. Hawaii insurance providers offer many discounts often including rate reductions for: taking out multiple policies with the same provider, installing fire safety and anti-theft devices, keeping a high credit score, remaining claim-free for several years, and using specific safer building materials when upgrading or remodeling. Available insurance discounts can vary from company to company and even from year to year, so make sure you talk to your provider from time to time about any discounts you may now be eligible for.
If you are not eligible for any discount, you may consider altering your current policy to lower your yearly insurance costs. Increasing your deductible, lowering your coverage limits, and eliminating some covered perils from your policy can each reduce your current rates. Unlike discounts, however, policy alterations such as these can cost you more out-of-pocket if and when damage does occur. Those considering these types of policy alterations should not take the decision lightly.
Finding and Comparing Hawaii Home Insurance Quotes
One last way to reduce your current insurance rates is to switch providers. Because each insurance provider can view a particular situation as more or less risky than another company, the exact same policy for the exact same homeowners can cost much more or much less depending on the company you choose. How do you know if you're paying too much for your current policy? Get quotes and find out.
With NetQuote, finding and comparing Hawaii homeowners insurance quotes is easy. Go online, fill out a brief form, and let NetQuote find you quotes from several providers in your area. For some folks in Hawaii, home insurance quotes will identify a provider offering hundreds of dollars a year in savings on the policy you want; for others, quotes will bring the peace-of-mind of knowing you've already got one of the best deals going. Either way, getting your free quotes from NetQuote is a painless process that no homeowner should pass up.