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Hawaii in Top 5 States For Affordable Home Insurance

A report has revealed that credit has a lower impact on home insurance in Hawaii than 45 other states.
May 12, 2017


Hawaii in Top 5 States For Affordable Home Insurance

According to the U.S. Census Bureau, Hawaii has the lowest property taxes in the nation at a 0.28% effective rate, a fact that's appreciated by many a Hawaii home owner. This has been publicized by many news articles, including a recent one by Forbes. However, a new report has revealed that Hawaii is also in the top five states in the nation where credit scores influence home insurance the least.

The report comes from InsuranceQuotes.com, which analyzed the effect that credit scores have on getting home insurance, finding that Hawaii was in the top five. This is the third year for the report, which assesses all fifty states to find the average impact credit had on home insurance per state.

The report revealed that premiums for home insurance rise steeply for those with poor credit, versus those with excellent credit. In fact, their rates increase by 114 percent, on average. Hawaii was the fifth least expensive state in this regard, with premiums increasing by 53.1 percent for those with poor credit, as opposed to those with excellent credit.

In North Carolina, premiums increased by just 0.2 percent, meaning they don't really factor credit into home insurance. On the other hand, the highest premiums were in South Dakota, where poor credit raised the cost by 288.1 percent. Hawaii being the fifth most affordable in the nation is definitely another win for the state, and a factor that many home owners and buyers will likely appreciate.

Another interesting facet to the study is that the average U.S. premium is increasing over time. According to the report, the premium increase for those with fair instead of excellent credit was 36 percent in 2016, 32 percent in 2015, and 29 percent in 2014. This trend will likely make Hawaii's conditions all the more appealing to some of those who are interested in buying a Maui home. Of course, if you have excellent credit, you'll be in the best position of all.

Blogs for May 2017

Affordable Lahaina Oceanfront Condo For Sale Right on Front Street

Posted on May 26, 2017

Affordable Oceanfront Lahaina Condo For Sale on Front Street

If a convenient location is at the top of your priority list, you may want to have a look at this lovely West Maui Lahaina condo for sale at 1403 Front Street. Yes, this tidy little 1 bed/1 bath is located… Continue Reading

Maui Condo Real Estate Prices Rise 10 Percent in April

Posted on May 19, 2017

Maui Condo Prices Rose 10 Percent in April

If you've been following the Maui real estate market trends via the Realtors Association of Maui reports, you may remember that in March, home prices in Maui County were the highest they'd been since September of 2006. The median price of… Continue Reading

Hawaii in Top 5 States For Affordable Home Insurance

Posted on May 12, 2017


Hawaii in Top 5 States For Affordable Home Insurance

According to the U.S. Census Bureau, Hawaii has the lowest property taxes in the nation at a 0.28% effective rate, a fact that's appreciated by many a Hawaii home owner. This has been publicized by many news articles, including… Continue Reading

Exemplary Condo For Sale at Kaanapali Plantation

Posted on May 05, 2017
Exemplary Condo For Sale at Kaanapali Plantation

In the market for a West Maui condo in a convenient location and breathtaking ocean views? At 150 Puukolii, you'll find a delightful Kaanapali condo for sale that offers this and much more. Situated just North of the world renowned Kaanapali Beach, it's just… Continue Reading

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Lahaina, HI 96761
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Sakamoto Properties
Napili Plaza
5095 Napilihau Street #203
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