Hawaii unveils rates for home and condo insurance
In an effort to encourage residents to proactively look for the lowest Hawaii homeowners insurance rates, state officials are working to help them compare rates from different companies.
This week, the Hawaii Insurance Division released its reports comparing the condo and home insurance costs from 14 insurance providers which agreed to publicly share their rates. Those companies make up about half of the insurers in the state.
State officials said that by comparing the prices charged by different companies, consumers will be able to do their best to save money.
"While Hawaii residents face increasing prices and rising fees, taking advantage of the premium rate comparison table is one way they can help themselves manage costs," said Hawaii Insurance Commissioner Gordon Ito. "Insurance companies are spurred to lower costs when consumers shop around and compare."
The state also put together a booklet to help consumers better understand the varying levels of coverage offered by different homeowners insurance companies. The "Consumer's Guide to Homeowner's Insurance" is available on the state's website.
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