Posts: 199
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Joined: Feb 2010
Over 6 months ago I became very irritated at the difficulties in getting reasonable fire insurance in Lava Zones 1 & 2. I went to see our Councilmember, Emily Neaoli and she whole heartily embraced the problem. She and her staff have been a very helpful conduit to State and Federal Departments and Agencies. We are slowly making headway in that we have obtained the support and help from the Hawaii Congressional Delegation and we have developed communications with the Stare Insurance Commissioner’s Office. The first goal is to challenge the rate structures established by HPIA, the State assisted insurance program that the majority of our insurance is underwritten by.
I would be very interested to hear about other Insurance Companies that are writing policies in zones 1 & 2. If your policy is with one of the other companies, please give me the company name so I can research their availability and underwriting policies.
Posts: 2,314
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Joined: Jun 2003
The only other company writing policies in LZ1 is Lloyd's. LZ2 is more open.
Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
808.327.3185
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
Posts: 199
Threads: 19
Joined: Feb 2010
Yes, but Lloyd's is generaly more expensive even though they have a better policy. WRT LZ2, if you know of other companies, please post them so others can benifit and I can make contact with them
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Joined: Feb 2009
If you had used the search function you would have found many posts about this subject including this one.
I helped puna residents collectively save about $150,000 in premium over the past 5 months.
I am offering a homeowners policy that does not surcharge for lava zone 2. Rates are comparable to zone 3 and higher with great hurricane rates as well. The main restriction for placing coverage with this insurer is that a fire station must be within 5 miles of the home and the home must be owner occupied. A volunteer station like the one in Hawaiian Beaches is acceptable. Spending time expanding volunteer stations to Kapoho/Kalapana would be very worthwhile.
For zone 2 rentals and homes farther than 5 miles from a fire station we have rates that are much better than HPIA. There is rarely a reason to stay with HPIA if you are in zone 2. Unfortunatlry Zone 1 is still stuck with HPIA with higher value homes going to LLoyds of London. Give me a call or send me an email for quotes.
Mahalo,
Dan De Soto
Mutual Underwriters
Insurance Agent
www.insurancehi.com
dan@mutualunderwriters.com
Tel: 808-961-3207
Fax: 808-969-1120
275 Ponahawai St., Ste#105
