Hawaii is one of the most popular vacation destinations in the world, but almost 1.4 million residents are lucky enough to call Hawaii their homeland. Even when you live in paradise, you still face risks, and need to have the proper insurance to protect yourself and your property.
Hawaii is home to 34 independent Trusted Choice® agents who can help you find all the insurance coverage you need. A local agent can compare hundreds of insurance companies, coverage options and rates, to find you the right policies for the right price. Contact an independent agent on your island to get the Hawaii insurance quotes you need today.
What an Independent Insurance Agent Can Do for You
When you buy insurance you can use either a captive or an independent agent. A captive agent works for one insurance company and can only sell that company's policies at a set price. In contrast, an independent agent can access hundreds of insurance companies with multiple types of insurance at different price points. So you're more likely to find the coverage you need at a price that fits your budget.
Save Money with Hawaii Car Insurance
When you're ready to purchase car insurance the coverage options are quite similar, but the pricing can vary widely. It's a good idea to compare quotes to get the best price. Hawaii, like most other states requires that you carry a minimum amount of liability car insurance:
- $20,000 for bodily injury or death to one person in an accident
- $40,000 for bodily injury or death to all persons in an accident
- $10,000 property damage in one accident
Hawaii also mandates $10,000 in personal injury protection (PIP), also called no-fault insurance. This coverage provides medical payments if you, your passengers, relatives living in your home, and drivers authorized to drive your vehicle are injured in an automobile accident. You and your family are also covered if any of you get injured in an accident while riding in someone else's vehicle.
Keep in mind, these are minimum coverage limits, which are legally required by the state of Hawaii. Many financial experts recommend that motorists increase car liability limits and add other protections. Other coverage options can insure you against uninsured or underinsured motorists. This coverage pays your claims if you get injured or have property damaged in an accident caused by an uninsured or underinsured motorist. You can also carry collision insurance to cover damage to your own vehicle in an accident. In addition, comprehensive, or "other than collision" insurance, covers damage to your vehicle that results from events such as falling objects, theft, vandalism, running into animals and more.
Protect Home and Property with Hawaii Homeowners Insurance
Homeowners live in over 300,000 of Hawaii's available housing units. If you own your home, you need to have homeowners insurance to protect the structure of your house, as well as your personal belongings in the home.
Here are the coverage options you will probably need:
- Property damage: This covers damage to the structure of your house, as well as other buildings on your property, including sheds, garages and outbuildings.
- Contents: This covers the contents in your home, including furniture, appliances, computers, electronics and other personal belongings. Expensive items, such as jewelry, fine art and collectibles may need separate coverage if the items exceed your homeowner policy limits.
- Liability: This protects you from lawsuits and pays liability claims if someone is injured or has property damaged at your home or on your premises.
Most homeowner policies cover direct damages that result from volcanic eruptions, but do not cover floods or earthquakes that occur as a separate event, or in the aftermath of a volcanic eruption. You need additional earthquake or flood coverages to insure you against these events.
Cover Your Business with Hawaii Business Insurance
If you own a business in Hawaii, you need to protect it with business insurance. You can find coverage to insure your business property, your commercial vehicles and your business income, as well as to pay liability claims and legal defense costs.
Trusted Choice agents write more business policies than any other brand. No matter what kind of business you own, an independent agent can pull together a policy from a variety of insurance providers, to get the best price and the most complete coverage. Available business coverage includes the following:
- General liability: This protects you and your business from lawsuits and third party liability claims. It provides legal defense costs and pays liability claims, up to the limits of your policy.
- Professional liability: This insures you against "errors and omissions" in your professional duties. It includes unintentionally negligent work that leads to a client's financial loss.
- Property damage: This covers your business property in the event of damage, theft and vandalism. You can also add an endorsement for equipment and tools. It includes office buildings, warehouses, garages, and storage facilities, as well as the contents of the buildings.
- Commercial vehicle: This protects the vehicles you use for business purposes, as well as the drivers. It is similar to personal car insurance but designed for commercial vehicles and fleets of vehicles. It includes trucks, vans, cars, and specialized vehicles.
- Workers compensation: Most Hawaii employers with one or more full or part-time employees are required to carry workers compensation. This coverage pays your employees' medical expenses if they are injured in job-related activity. It also reimburses the employee for a percentage of lost wages if they cannot return to work due to the injury.
- Business owners insurance: Designed for small to mid-sized businesses, this policy bundles general liability, property damage and business interruption insurance together. Business interruption provides lost revenue if you incur a covered loss that causes a work stoppage. Normally, you can receive discounted rates when you buy these as a package.
- Umbrella liability: This provides you extra liability coverage over and above the limits of a general liability policy, to protect you from a potentially devastating lawsuit.
Provide for Your Family with Hawaii Life Insurance
Over 40% of Americans do not have life insurance, and this leaves their families exposed to huge financial risks. A sound life insurance policy can provide for your loved ones when you are gone. It can enable them to maintain the same standard of living, pay off the mortgage, and go to college, in your unexpected absence.
If you are concerned about the price of life insurance, you may be able to find a low-cost term life insurance policy. This will cover you for a 20-30 year term, and provide a death benefit to your beneficiaries when you die.
If you can afford to pay a little more for your coverage, you can lock in a rate on a permanent life insurance policy, such as whole life or universal life. Permanent life insurance covers you for your entire lifetime, even if your health begins to fail. It accrues cash value that can be used as collateral, or liquidated if necessary. And it offers a guaranteed death benefit to your loved ones when you pass away, even if you are 100 years old.
The best time to purchase life insurance is now, because the longer you wait, the more expensive your coverage grows.
Finding the Hawaii Health Insurance That's Right for You
Health insurance is quickly becoming a complex decision. Coverage options are constantly changing due to new laws, employer adjustments and new product offerings.
You may need the flexibility of a PPO, the cost savings of an HMO, or you may be in a position to utilize an HSA. Even if you don't know the differences between these plans now, you can ask a local agent for a free review of your current health insurance and to get Hawaii health insurance quotes. You can also find help to navigate the new Healthcare Exchange, which may offer income-based rates and group options you can use.
Add Hawaii Flood Insurance to Your Homeowners Insurance
Many homeowners and renters do not realize that flooding is not covered in a standard homeowner or renters insurance policy. Even in an island community like Hawaii, there are those who fail to carry flood insurance. Due to the severity of the property damage caused by flooding, FEMA recommends that everyone carry flood coverage.
The National Flood Insurance Program is administered by FEMA and available through private insurers. Flood insurance covers physical damage to structures caused by flooding. You can also buy contents coverage, or carry both structural and content coverage.
The flood insurance policy also covers any damage due to erosion caused by currents or uncommon water cycles. For example, if you have a house on the coastline that collapses due to waves, currents or rising water, your flood insurance would cover damage, up to the limits of your policy. Floods caused by burst or leaking pipes or sewage backup are not covered by a flood policy, but are usually covered by homeowners insurance. If you are at risk for mudslides, consult your local agent about the specifics of mudslide coverage, as it can vary.
Find the Hawaii Insurance Quotes You Need Today
There's no time like the present to cover all your risks, so you can enjoy your life in the island paradise of Hawaii. No matter what kind of insurance you need, you can find it with one of the 34 independent Trusted Choice agents in Hawaii.
Contact a local agent now for the Hawaii insurance quotes you need at a price that fits your budget.