We know that there are many resources out there for information on Hawaii Renters Insurance, so we’re happy that you’ve taken the time to review our Honolulu, HI Renters Insurance Guide. As the insurance experts for renters, we work to educate renters on the options available to them to protect the things that are important to them.
Only forty-four percent of renters in the US have renters insurance, and that statistic is even lower for Honolulu, HI renters insurance. It’s not that renters don’t want the protection and security that a policy provides, they do. The problem is that many people don’t even realize that it’s available. Many people also are mistaken about the cost of renters insurance in Honolulu. While we realize that everything in this fair city tends to be more expensive than on the mainland, that’s not true of Honolulu renters insurance.
Education is an important part of our core values, and we’re happy to walk you through your coverage. If you still have questions, please reach out to us and we’ll be happy to answer them.
Honolulu, HI Renters Insurance
Can I Get Honolulu, HI Renters Insurance?
It’s been said that Hawaii is a “hard market” in general for insurance. In insurance parlance, that simply means that for a variety of reasons, there are either not many companies writing new business in a certain sector of the market, or they’re charging significantly more premium for it.
It’s not untrue that renters insurance in Honolulu is a bit of a hard market. Who wants to write a policy to cover wind damage for someone who lives in Hawaii, of all places? Standard carriers tend to run away from that sort of risk.
But the renters insurance experts at Effective Coverage know where to find companies willing to underwrite business like that, at a reasonable cost. It’s been said that you can insure absolutely anything, if you’re willing to pay enough for it. A coffee taster can insure his tongue with Lloyd’s, but for a pretty penny. There’s an active excess and surplus market in Honolulu, but you don’t want to spend a month trying to get the policy bound, nor do you want to deal with a non-standard policy form.
What you need is a company that can get you renters insurance in Honolulu in just a few minutes, and with coverage for the standard things you expect to be covered under a renters insurance policy. Effective Coverage can do that, because of our direct access to the underwriters and our partnerships with writing companies that actually want to write this sort of business.
What Is The Cost Of Renters Insurance In Honolulu?
Hawaiian renters insurance is slightly more than the national average, but not much. The national average is about fifteen dollars a month, and Honolulu renters insurance trends more around eighteen dollars a month. That’s still an amazing deal, all around.
You pay about eighteen dollars a month to an insurance company. Money that you most likely would have spent on silly little things a dollar or two at a time anyway. In return for that token payment, they take on nearly all the risk for a number of things that could happen to your property, generally covering anywhere between $15,000 and $50,000 of personal property. If there’s a loss, all you contribute is a few hundred dollars for the deductible, they pick up the rest of the cost of replacing your property, up to the policy limit.
They also take on liability risk for you. That means that if you cause bodily injury or property damage to someone, the risk is transferred to the writing company up to the policy limit. In this case, there generally is no deductible on liability insurance. They take care of the claim, and defend it if necessary. Remember that Hawaii is in the Ninth Circuit, which has been called quite liberal in the past. That could be a very expensive place to defend a suit against you. That eighteen or so dollars a month you pay for Honolulu renters insurance also pays for a defense against those claims!
Is It Legal For My Landlord To Require Renters Insurance In Honolulu?
While we realize that things are often done a bit differently in Hawaii, one thing that’s the same as anywhere else is that it’s entirely legal for your landlord to require renters insurance in Honolulu and elsewhere in Hawaii.
It’s in your lease, it’s part of the contract, you agreed to it, you’re bound by it if there’s a provision requiring renters insurance. That’s basic landlord/tenant law that everyone knows.
What your landlord can’t do is require renters insurance in the middle of a lease term if the original lease didn’t require it. However, at the end of your lease, he’s under no obligation to renew that lease under the current terms and conditions, nor even at all.
On top of that, the housing market is tight. Having renters insurance in Honolulu can actually make you look like a better, more responsible applicant when you’re looking for an apartment. Responsible people who carry renters insurance because it’s the right thing to do to protect themselves, their families, and the people that they come into contact with are the sort of people who landlords often prefer to rent to.
Why wait? Protect your family today with Honolulu, HI renters insurance from Effective Coverage, where the Hawaii Renters Insurance experts make the whole process easy!
Renting In Honolulu, HI
Honolulu plays an important role in Hawaii’s economy, culture, and government. Not only is it the largest city in Hawaii by population, with over 374,000 people, but it’s also the county seat as well as the state capital. Since this is where both jobs and services are plentiful, many people choose to live in the city rather than in outlying areas. As a result, the average home price in Honolulu has increased to $621,466 and the average rent is $1,613 per month.
On the other hand, spend just five minutes in this gorgeous city, and you’ll see why people are willing to spend so much to make Honolulu their home. In addition to being a beautiful city located in a beautiful state, it’s a cultural center and an economic powerhouse. If you want to run most types of businesses, Honolulu is the place to be. There are some exceptions, such as the tourism industry, but generally, you want to be where the people are in order to run a business or even to find work.
Honolulu is a great place to live, and to build your life and raise a family. But all of those things require money, personal property, and security. Make sure you protect the things you’ve worked so hard with Honolulu renters insurance from Effective Coverage, the Hawaii Renters Insurance experts.