DCCA Insurance Division Releases Premium Comparisons

Hawai’i Insurance Commissioner Gordon Ito. DCCA file photo.

Premium comparison guides for 2016 were recently released by the Department of Commerce and Consumer Affairs, Hawai’i Insurance Division. The guides cover motor vehicle, homeowners, condominium, and rental insurance.

The Insurance Division released the resources to assist consumers in combing through various insurance premiums.

“Reviewing your auto or homeowner’s policies annually or in the event of a life change, such as the purchase of a new car, could help consumers avoid unexpected expenses,” said Insurance Commissioner Gordon Ito. “Our premium comparison guides are written to help consumers understand what effect rating factors like speeding convictions and the type of home construction can have on the cost of their insurance.”

Consumers can use the guides to research their options when it comes to insurance.

Both homeowners and renters insurance are not required by the State of Hawai’i, however, bank or mortgage lenders may require it.

All drivers in the state are required to have a valid motor vehicle insurance policy.

The guides can be reviewed below:

• 2016 Motor Vehicle Insurance Premium Comparison 
• 2016 Homeowners Premium Comparison
• 2016 Condominium Owners Premium Comparison
• 2016 Renters Premium Comparison

The Insurance Division also added the Guide to Hurricane Strengthening for Hawai’i Single-Family Residences for consumers and contractors. The guide provides technical requirements, as well as drawings and references to retrofit existing homes.