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Big Island The Island of Hawaii
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Old 10-11-2006, 03:36 PM
 
3 posts, read 11,726 times
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Are the rates to insure a home in lava zone 1, 2 or 3, quite high. In Florida insurance rates have went up so much that people can no longer afford to insure their homes and are being forced to move, thanks to the hurricanes.
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Old 10-11-2006, 06:17 PM
 
Location: Pahoa Hawaii
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Aloha Hoss, The insurance rates in zone 3 and higher are comparable to anywhere else in the state. In zone 1 and 2 however, I'd estimate double that, maybe more, only offered by a handful of companies and there are strings attached; They will only cover non-lava losses, and there is a cap of $250K coverage. Any home valued higher can be covered only by Lloyds of london at (I consider) an astronomical rate. Hurricane and earthquake insurance are of course extras.
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Old 12-13-2006, 04:22 PM
 
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Aloha, I am trying to find insurance for a Zone 3 property in Kurtistown...do you know who I should go to for rates?

Quote:
Originally Posted by leilaniguy View Post
Aloha Hoss, The insurance rates in zone 3 and higher are comparable to anywhere else in the state. In zone 1 and 2 however, I'd estimate double that, maybe more, only offered by a handful of companies and there are strings attached; They will only cover non-lava losses, and there is a cap of $250K coverage. Any home valued higher can be covered only by Lloyds of london at (I consider) an astronomical rate. Hurricane and earthquake insurance are of course extras.
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Old 12-13-2006, 08:03 PM
 
Location: Pāhoa, HI & Manhattan Beach, CA
1,879 posts, read 3,698,101 times
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Quote:
Originally Posted by ragustin View Post
Aloha, I am trying to find insurance for a Zone 3 property in Kurtistown...do you know who I should go to for rates?
I recommend Pyramid Insurance Centre in Hilo.
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Old 01-25-2007, 05:49 AM
 
Location: Sparta, TN
275 posts, read 795,100 times
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just a note on Ins. going up...
I live in MS. and since Katrina my rates Have gone up $300 last year.
This year thay are going up $800. and they will drop Wind and hail.
unless you get it for $2400 extra.
People can't afford these rates, but the State and Govt. won't stop them.
I have no choice but to move.....
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Old 02-28-2007, 04:38 AM
 
376 posts, read 55,151 times
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I thought that the government of Hawaii had insurance rates for those who had a hard time finding insurance? I own a level 2 property and am quite freaked about the insurance costs. Anyone know about this?
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Old 11-30-2007, 08:15 PM
 
2 posts, read 12,150 times
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Default Insurance in zone 2

Quote:
Originally Posted by GirlinAZ View Post
I thought that the government of Hawaii had insurance rates for those who had a hard time finding insurance? I own a level 2 property and am quite freaked about the insurance costs. Anyone know about this?

GirlinAZ -- we are currently looking to buy in lava zone 2... any suggestions on insurance? There has to be some one who insures in this area, right?
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Old 11-30-2007, 08:18 PM
 
2 posts, read 12,150 times
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Default lava zone #2 insurance

Quote:
Originally Posted by leilaniguy View Post
Aloha Hoss, The insurance rates in zone 3 and higher are comparable to anywhere else in the state. In zone 1 and 2 however, I'd estimate double that, maybe more, only offered by a handful of companies and there are strings attached; They will only cover non-lava losses, and there is a cap of $250K coverage. Any home valued higher can be covered only by Lloyds of london at (I consider) an astronomical rate. Hurricane and earthquake insurance are of course extras.

Leilaniguy - Are you an insurance agent? There has to be some one who insures in lava zone 2 on the island if the property is less than $250, right? Do you know of any? Can you give me some names. Thank you
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Old 12-01-2007, 04:00 AM
 
Location: Pahoa Hawaii
888 posts, read 2,766,601 times
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Sorry, not an ins. agent. Try contacting Hawaii Property Insurance Association- HPIA, PO box 2880 Honolulu, HI 96802-2880 or ph. 808-564-8200 and ask which carriers cover lava zone 1 and 2. The cap was raised earlier this year to $350,000.
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Old 12-01-2007, 01:35 PM
 
Location: Big Island of Hawaii
1,375 posts, read 4,355,575 times
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To avoid advertising on this site, I can't post the contact info for the agent I would refer you to....but DM me, and I will forward his name and number to you if you are ready to investigate with an agent.

Yes, you can get insurance in Lava Zones 1 and 2, though HIPA does not guarantee to cover all properties. In an earlier post about Leilani Estates, I posted rates for a house costing about $349,000 in Lava Zone 1. Coverage would be about $2,000 per year.
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