Posted by: Mitch @ South Maui Homes | July 19, 2013

Hawaii Homeowner’s Insurance Rate Comparisson Chart

Wading Across the Flood

Wading Across the Flood (Photo credit: www78)

When you purchase a home or condo, most lenders will require that you get some form of homeowner’s insurance policy.  This is important to know especially for first time buyers since it can affect how much house you can afford.  Thankfully the State of Hawaii has a nice little chart of insurance rates that they received from different carriers.  You can use this to see how competitive your rates are compared to others.

A homeowner’s insurance monthly payment isn’t as high as a mortgage payment, however when you are looking to buy real estate in Maui, Hawaii, please keep in mind that we are at risk for hurricanes, and tsunamis.  When looking for properties you’ll need the help of a knowledgeable Maui Realtor to let you know ahead of time about flood areas.  These areas can increase your monthly payments between $100-200/month for mandatory flood insurance coverage.  If you are interested in looking at flood areas you can use a flood hazard assessment tool.

Also when choosing your home insurance policy, the first people you should check with is your car insurance provider.  As many times they can bundle your policies, and give you a discount for both items.  Contact me if you are looking to purchase Maui real estate, and have questions regarding the extra monthly payments that you’ll need to make along with your mortgage such as homeowners insurance, property taxes, flood insurance, hurricane insurance, and association fees.



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