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Big Island The Island of Hawaii
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Old 03-12-2021, 02:49 PM
 
10 posts, read 12,958 times
Reputation: 13

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Hey all. We have gone ahead and pulled the trigger and made an offer on a home in Hawaiian Beaches. The last contract on the house fell through because the buyers stated they couldn't obtain insurance, but I have no other details. I was under the impression from our broker that insurance isn't difficult to obtain but premiums run about twice the cost. Can you guys in LZ 2 tell me who you use, basic house value, and premium? Thanks much!
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Old 03-13-2021, 11:29 AM
 
Location: Ka'u
112 posts, read 96,784 times
Reputation: 255
Get with Paradise Insurance 808-315-7207. They'll get you hooked up. Seems to one of the main providers. We use them and they were almost half of what Allstate had quoted.
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Old 03-16-2021, 07:42 PM
 
Location: Puna, Hawaii
4,412 posts, read 4,900,190 times
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You didn't say how much the house costs but most insurers cap the amount they will insure for in LZ 1 or 2. They may not have been able to get enough coverage even if the company offers insurance. Also, if the previous buyers were from a year or more ago they weren't offering any new policies during, and for some time after, the Leilani eruption.

Some lenders will require hurricane insurance in addition to the standard policies. Ours does, but we're in LZ 3 so not paying any lava premiums.
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Old 03-17-2021, 04:57 AM
 
5 posts, read 3,303 times
Reputation: 21
I’m in LZ2 and got insured through Paradise Insurance. Cost is about $1600 per year which was similar to my premium in South Carolina. It does have a higher deductible ($7000) for hurricane damage.
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