Protect What You Own with Hawaii Renter's Insurance

Hawaii Renter’s Insurance 

Purchasing a renter’s insurance policy is one of the easiest (and cheapest) ways to protect yourself and your belongings while renting your home in Hawaii. A typical policy costs only $10 to $20 per month and can save you much more should unexpected damage or liability occur. 

But despite its affordability and practicality, only about half (55%) of U.S. renters currently have renter’s insurance, most of whom must have a policy per their landlord’s requirements. 

We’ve prepared this article to help you understand why you need renters insurance in Hawaii and how to obtain a policy in this state—from cost and coverage to additional policies you may need.  

What is Renter’s Insurance? 

Renter’s insurance is insurance that covers specific types of losses suffered by renters during their occupation of a rental property. A typical renter’s insurance policy covers personal property, liability protection, and additional living expenses. Renter’s insurance often kicks in after damage from natural disasters, accidents, or other incidents.

An important note: Renter’s insurance does not cover the actual building itself. The physical building you live in should be covered by your landlord’s insurance. Renters insurance helps protect you and the belongings you own within the property that may be damaged or stolen.

Why Do I Need Renter’s Insurance? 

Everyone who rents their home—whether that be a single-family home, studio apartment, mobile home, townhome, condo, or other type of property— should have a renter’s insurance policy. This is because even though you don’t own the physical building you are renting, the items you keep within it (or even in your car, or elsewhere) could still be damaged or stolen.

For example, imagine that a fire occurred in your apartment complex. Your landlord’s insurance would cover the damage to the actual building, appliances, and building systems. However, your landlord is not responsible for replacing all your lost clothes, furniture, electronics, and other belongings. That’s what renter’s insurance is for.

Renters insurance policies can also cover medical or legal expenses if you are sued. For example, your renter’s insurance would apply if someone gets injured in your home and you are responsible for their medical bills.

An average renter’s insurance policy includes $20,000 – $30,000 of personal property coverage and doesn’t cost you more than a $20 bill each month. It’s a small price to pay for the great financial security renters insurance offers.

Is Renters Insurance Required?

No, renters insurance coverage is not required by federal or state laws. However, some landlords may require their tenants to purchase insurance as a stipulation of the lease agreement. Regardless of whether your landlord requires it, purchasing renter’s insurance is a good idea. It’s the only way to gain financial security for your belongings as well as liability protection. 

What Does Renters Insurance Cover? 

Renter’s insurance has three main categories of coverage.

1. Personal Property: Personal property refers to any belongings like clothes, furniture, electronics, etc. Your personal property is subject to limits and requires a deductible. However, your insurance will reimburse you should your personal property get damaged by disasters such as the following:
   • Fire and smoke
   • Storms, lightening, wind, hail
   • Theft
   • Vandalism
   • Explosions
   • Winter weather damage
   • Damage from infrastructure tearing, cracking, burning, etc.
   • Sudden, accidental damage from electric currents
2. Liability: Liability coverage pays for your medical or legal bills should you be responsible for an injury on the property or damage to the property itself.
3. Loss of use/Living Expenses: Loss of use insurance kicks in if the property you rent becomes uninhabitable due to damage or repairs. It pays for your hotel bills and even certain food expenses while you wait for repairs to be completed.

There are a few disasters renter’s insurance doesn’t cover, like flooding. It’s important to read your renter’s insurance policy to understand what is and isn’t included. If you need coverage that isn’t included, you can purchase add-on policies, such as water backup coverage, theft extension coverage, scheduled valuables coverage, or earthquake and volcano coverage.

Hawaii Renters Insurance :

Renters insurance in Hawaii protects you and your belongings from a range of perils. Hurricanes, wildfires, volcanic eruptions, and tropical storms can all damage your rental home and personal possessions in Hawaii. If any of these natural disasters damage your belongings, Hawaii renter’s insurance can cover the replacement or actual cash value up to your limits and minus your deductible. Your insurance company can also cover legal or medical bills should an accident or injury occur to someone while at your home. 

How Much Does Renters Insurance in Hawaii Cost? 

How much does renters insurance cost? Fortunately, renters insurance in Hawaii is very affordable. According to NerdWallet data for 2024, Hawaii renters insurance costs an average of $154 per year, or about $13 per month. The average rate in Hawaii is only a dollar more than the national average monthly renter’s insurance rate of $12 (keep in mind, however, that prices vary depending on coverage limit and deductibles. A cheap renters insurance policy will likely have a higher deductible). Due to its low cost, renter’s insurance is well worth the small investment to secure the best protection for yourself and your belongings. 

What Are the Most Common Claims in Hawaii?

Common renter’s insurance claims in Hawaii include damage from wind and rain, volcanic eruptions, and wildfires. In 2018, large lava flows from Kīlauea volcano destroyed over 700 homes and displaced around 2,000 people in the Puna District. The eruption was followed by a magnitude 6.9 earthquake, incurring further damage. Hawaii also sees four to five tropical storm systems each year on average (although most stay far enough away not to cause significant damage). Heavy rains, fires, and wind can also cause damage to homes and personal property on the island. It’s important to protect your belongings with insurance should damage occur. 

What Additional Policies Do I Need in Hawaii? 

Hawaii renters may also need flood insurance. Flooding in Hawaii can occur when tropical storms cause rising water levels or storm surges, which can damage coastal homes and the belongings within. Each of the Hawaiian Islands have experienced hundreds of floods in the past 20 to 30 years.  

According to data from the Federal Emergency Management System, the Hawaiian counties experienced over 1350 flood events between 1996 and 2019: 411 on the Big Island, 316 in Maui County, 368 in Honolulu County, and 255 in Kaua’i County. Flooding is a real possibility in many parts of the island, so it’s necessary to protect your belongings if you rent a home in an area with high flood risk. 

Flood coverage is typically excluded from most renter’s insurance policies. The National Flood Insurance Program (NFIP) helps renters find a flood insurance policy customized to their individual needs and coverage preferences. How much coverage you will need depends on the location of your home and other factors. 

How to Get Renter’s Insurance in Hawaii 

Most major insurance providers offer renter’s insurance, often bundled with auto insurance for a lower price. To determine your renters insurance policy and coverage details, your insurer will typically ask you a few questions about the rental unit (such as the type of building, year it was built, and address) and the dollar value or replacement cost of high-value personal belongings you own. You’ll be able to tailor your policy and coverage details to your needs. 

Get Renter’s Insurance with Innago 

Innago offers renter’s insurance through our partnership with Assurant. If you’re a renter, regardless of whether your landlord uses Innago, you can purchase a policy and get protection for you and your personal belongings. You can get quick and affordable renters insurance quotes, customize your coverage, and add an additional person onto your policy at no extra cost.