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Homeowners and Car insurance - Wuzzerdad - 09-17-2012
[
]There is a move to Hawaii in store for us in the near future,
Since we will be buying a home near Pahoa in the rift zone, can you give me some ideas about what coverages we can expect to have to maintain while we have a mortgage until we sell our house on the mainland.
I guess the biggest concern is Earthquake/Lava? coverage, and cost.
And car insurance....what are the norms? We can drive beaters or fairly new (2-5) years old...never NEW! Cars are just transportation for us because, as I tell my kids.....
Walkin is NOT crowded! [
]Have kinda thought about Leilani Estates because of some history with that area, but am open to other areas too.
Rick
RE: Homeowners and Car insurance - rainyjim - 09-17-2012
Hi again Rick,
I know Leilani is in Lava Zone 1 or 2 (forget which) and is therefore in one of the highest tiers for homeowners insurance. For me personally (23 year old male) my insurance coverage took a several hundred dollar dive when transferring my auto policy from California to Hawaii. My savings were literally astonishing. (I use progressive for cars, buy only insure 1 vehicle at the moment). I had bought a hybrid car recently and decided to ship it over from the mainland. It cost me $1,248.00 and it was worth every cent to me. The process of drop off + pick off were completed without flaw. (I used Pasha to ship my car)
Cars do cost more here than the mainland for the same make/model/year/etc.
Cheers
rainyjim
RE: Homeowners and Car insurance - Jay Bondesen - 09-17-2012
I think that all of Leilani is Lava zone 1 and because of that none of the major carriers are offering coverage here although some residents have been kind of grandfathered in from having it from years ago. Right now I think it's really just Loyds of London and HPIA which is a state sponsered package. Any local agent can write it but they all will be the same price. The cost will depend on the coverage limits and a call to an agent will answer your question. Mine is over 2K. It does not cover Lava but will cover fire. In the past it has paid for a few homes burned by Lava but in a major eruption it might have to be argued over whether it was fire or lava that caused the loss. As for the car I think that the largest portion of the cost is for liability coverage and so again it depends on how much you want. Uninsured motorist is required since there are quite a few of those out there. Don't know about earthquake but hurricane is a seperate policy and getting either is a personal choice.
Jay
RE: Homeowners and Car insurance - Carey - 09-17-2012
I am not positive there IS earthquake insurance available for this island, as we had looked into it years ago... There is HURRICANE insurance, and that has gone up a bit recently, and car insurance is required, and varies by make of car (high theft models or high replace cost) & location, but when we moved 7 years ago our then 3 yr old Focus wagon insurance was about the same as semi rural IL in cost... have no idea if that comp has changed over the years...
There have been some past threads on the Lava Hazard & Lava zone Insurance, I have included a few over the years:
http://www.punaweb.org/Forum/topic.asp?TOPIC_ID=1422
http://www.punaweb.org/Forum/topic.asp?TOPIC_ID=9937
http://www.punaweb.org/Forum/topic.asp?TOPIC_ID=1804
RE: Homeowners and Car insurance - big_island_bound - 09-17-2012
My home insurance is actually cheaper in Hawaii for a larger home and it's in Lava Zone 2. My full coverage auto insurance is exactly half as much in Hawaii also compared to Florida where we get hurricanes on a regular basis. I wish everything else was cheaper....Ha ha. But I am paying 10 cents per Kwh here compared to 41 there on the BI.
RE: Homeowners and Car insurance - nana valley - 09-17-2012
In Nanawale (LZ 2), there are 3-4 insurance companies who will cover the fire/liability/hurricane, so there is more to choose from. My home (price range $100,000) has insurance at $900/yr. approx. Locals have told me hurricane insurance isn't needed but since my house is financed, I am required to carry it. So you could save insurance costs if you fully pay for your house! About hurricane coverage, it is separate from your fire insurance and there is discussion in Punaweb about whether to have hurricane coverage or not.
My car was shipped over and within 6 months the hood had lost its clearcoat (my bad for not washing the car faithfully!) I am saying, wash car upon picking it up from shipyard. Too late for me!
The car shipped for about $1000 with Matson. Insurance is slightly higher for me because previously I lived in a very rural area on the mainland with low volume traffic and I use Farmers. Here, as mentioned earlier, we are forced to pay for the Uninsured drivers out there. Very unfair for us who take responsibility! Car registration is about $170/yr. for my 4X4 SUV. Safety inspection annually is about $15-25.
You sound like you have done much research on the area and so I presume you know about Hele-ON bus service. I haven't used it yet but I believe it costs $1.00 per ride and the bus actually can take you around the entire island (involving switching connections, of course)! And lots of people walk, more and more, it seems are walking and hitchhiking or taking the bus.
RE: Homeowners and Car insurance - Wuzzerdad - 09-17-2012
Insurance sounds pretty reasonable in Hawaii compared, and we like in a rural area. Home and Auto, 2 cars a 2002, and a 2006 is almost $4000 and my wife and I have never had a ticket, YES, we never had a ticket, ever, yet! the 02 has liability, and the 06 is full coverage $500 deductable.
Uninsured motorist is a big deal here too, I guess aholes are universal to everywhere.
I am getting excited about my trip, and will find out so much more when I get there.
It seems HPP may be Zone 3???
Rick
RE: Homeowners and Car insurance - nana valley - 09-18-2012
Wuzzer, any of the realty agencies post the lava zone maps on their web sites. But yes, I believe HPP is LZ 3.
RE: Homeowners and Car insurance - kalakoa - 09-19-2012
I have heard (but cannot easily verify) that some auto insurance companies charge extra if you live somewhere unpaved.
RE: Homeowners and Car insurance - terracore - 09-20-2012
We use USAA for auto and Dongbu for home (we are required to have hurricane insurance). Dongbu, Liberty Mutual, and one other were all within a few dollars of each other. (lava zone 3)