Hawaii Home Insurance Rates
Hawaii home insurance rates will be dictated by the type of policy that you decide to take out, and also the location of your home. One of the great things about the internet is that you can receive no obligation quotes online, and receive Hawaii home insurance rates from brokers who have access to a number of different home insurance policy vendors. You don’t need to leave your home or your workplace to spend time walking between different insurance company offices or spend time having to repeat the same information to different insurance sales agents who want to sell you their particular policy.
Do you really need home insurance?
You may be one of the minority of people who think that home insurance is not necessary. This is a dangerous illusion and could land you in some very expensive situations at a time that you could least afford it. Consider that if a tile from your roof, or even a plant pot from your balcony, falls and injures, or worse still, kills someone, you are liable. Without home insurance you are solely responsible to pay for the damage to the injured party and you have no fall back to your insurance company, as you don’t have one.
What sort of cover is available for Hawaii home insurance rates?
If you are talking to an insurance company in Hawaii, or one of their agents, you will need to understand some of the home insurance cover classifications. This will help you, as it will give you a general idea if they are talking about a basic home insurance policy or one that is more comprehensive. Basic home insurance classified as HO1 is the most basic, but actually covers the policy holder for a number of important risks; these include, damage from fire, strong winds, hail and lightening damage. They also extend coverage for theft and damage caused by vehicles and aircraft. Smoke damage, volcanic eruptions and damage caused by civil commotion are also covered, together with damage to the glass in your windows. Floods and earthquake damage are excluded in this type of home insurance policy
Are you looking for something more from your Hawaii home insurance rates?
If you are able to pay a higher premium, an HO2 policy can extend your risk cover to include an additional 6 perils; however, earthquakes and floods will still be excluded. HO3 insurance, which is described in many cases as “all risks” insurance, is one of the most popular home insurance policies in the United States and also in Hawaii. However, the title “all risks” is a bit misleading, as there are exclusions in this policy too. These include earthquake and flood damage. However, 87% of those people in the United States who have home insurance have this type of home insurance policy. 8% decide to go for the top of the range HO5 home insurance that also gives full cover for home contents, unless the conditions under which they are damaged or lost are specifically excluded.
What information will you need to provide to get your Hawaii home insurance rates quote?
Not surprisingly, the most important information that the home insurers require is to understand where exactly you live. Have your ZIP code ready and you will need to enter your street address, house number and confirm the town or city that you live in. This is actually very important and will be reflected in your quote. For example, if you live next door to a fire station you will receive a better quote than if you live 10 miles from the nearest one. Next, you will need to tell the insurer about your home. First of all they will want to know in what type of home you live; is it a single independent residence, multi occupancy or perhaps a pre-fabricated home?
The foundations are important too; do you have a basement, a concrete slab base, or pier pilings and stilts? This information will make a difference. How old is your property is an important question too. Older homes were built at times when building regulations were, naturally, less complex, and this can cause the cost of your home insurance premiums to be higher. Make sure you complete all the information to be able to receive your correct insurance home insurance quote.
What else do you need to include to get the best Hawaii home insurance rates?
Make sure that you have included all of the relevant information; even simple things like the distance to the nearest fire hydrant will make a difference. Having installed smoke alarms and fire extinguishers can really help to reduce your rates; so don’t forget to mention them too.