Cost of Big Island Homeowners Insurance? (Hawaiian Beaches, Pahoa: RV parks, 2014, broker)

[cynmkolohe]

Originally Posted by Mvn 2 Paradise

Cynthia, you have an amazing file cabinet!
Sharlee

Click here for map:
http://www.hawaiianacres.org/images/floodmap.gif

This map illustrates what is happening in one particular subdivision--Hawaiian Acres. Researching these issues is so important for potential home builders!

This link is the the Hawaiian Acres Community Association site:

http://www.hawaiianacres.org/history.shtml

It's an interesting read!

Here's the part that applies to flooding:

"One manmade feature that has had a significant impact on Hawaiian Acres is the series of water diversion walls that total over half a mile in length and up to 12' in height, that channel water into Hawaiian Acres. This channel receives overflow from the Mt. View Drainage project developed by the county. This overflow can and has reached five feet or more in heavy rains. These walls were built by Olaa Sugar Company (AMFAC) starting in 1938, to divert floodwaters away from sugarcane fields along the Mauna Loa-Kilauea boundary into what was then considered wasteland......The unpredictability regarding this flood channel is due to policy failures, as well as other related geological features, and increases the risk for all landowners in the vicinity. There is some concern that the cemented wall will eventually break apart due to tree roots, and lack of maintenance. If this should happen, the problem could become even more serious......"

[terry murphy]

This is a good source of reasonably current information on homeowners insurance in Hawaii:

Hawai'i hurricane premiums soaring - The Honolulu Advertiser - Hawaii's Newspaper

Note the chutzpah of our insurance commissioner who suggests taking out a home equity loan to pay for increased insurance premia...

aloha, terry

[cynmkolohe]

In researching a property for a client, I just put in a call to an insurance agent to get an update on rates for Lava Zone 1 homes (Leilani Estates). Here is a summary:

For an owner-occupied home valued at/just below $350,000 (replacement value) in Lava Zone 1, insured through HPIA, the yearly cost for a policy will be about $1,800-$2,000. For a home valued above $350,000, insured through Lloyd's of London, the yearly cost would start at about $4,000.

(Please keep in mind that this was a very general quote. Anyone researching purchasing a property should consult with a professional in the industry regarding that specific property.)

[kani-lehua]

from today's honolulu advertiser:Development soars in risky Hawaii lava zones - The Honolulu Advertiser

[SundayPanos]

Am working on moving to Big Island. I am a landscaper here in Los Angeles. My hearts desire is in North Kohala. However, pock book says Puna or Kapoho area.

Any info on the Coqui frog. Is it really that bad. I have heard them. Just want to know if it is intolerable when one lives there. Have lots of other questions........won't take time now.

Thank you.
sunday

[bewilderness]

Can anyone offer any updated numbers for 2016 on this topic?

[mikereilly]

About $475 on a $120,000 home in Lava Zone 3 (Mountain View)

[tweez]

Here are a couple links with 2016 numbers:

Hawaii Dept of Consumer Affairs: Insurance | Home Insurance Premium Comparison

Average Cost of Homeowners Insurance (2016)

[terracore]

$420/year includes hurricane coverage in LZ 3 through Dongbu.

[1freespirit]

We have our home in Lava zone (2) insured by Universal Property. Their rates were a bit less expensive then the other ones.

https://universalproperty.com/

I know they ensure Lava zone (2) not sure about zone (1).