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Island Insurance Companies Summary
Founded in Hawaii in 1939, Island Insurance has its headquarters in Honolulu and writes insurance only in Hawaii. The company is affiliated with Tradewinds Insurance and Island Premier Insurance, and the three companies operate as Island Insurance Companies.
Island Insurance has grown to be the largest insurance company that is both locally owned and managed throughout Hawaii. Island Insurance builds its reputation as a truly local company with a management team comprised of Hawaiian residents offering years of experience in the local insurance market, as well as a commitment to internships to create jobs for Hawaiians.
The company offers a large range of different products, with a focus on property & casualty as well as small business coverage. Island Insurance is sold through a network of agents, with quotes available both online and by phone.
Island Insurance’s product range covers all of the basics of personal lines and commercial policies along with a number of specialty policy options.
Island writes standard auto insurance policies for drivers across Hawaii, including legally required and optional coverage. The company has a broad range of discounts and also offers flexible payment plans to help drivers fit premiums into their budget. Features of auto policies include:
- Discounts for affinity groups, multi-car/multi-policy, and hybrid vehicles among others
- Accident forgiveness
- No charge towing and roadside assistance and transportation assistance coverage
GoLow is Island Insurance’s most basic and most affordable auto insurance policy. This program is designed to help people on a tight budget get coverage. The policy offers only the legal minimum, but allows drivers to get back on the road at an affordable rate.
Home insurance products from Island Insurance are available in a variety of options. The company writes standard homeowner’s package policies to cover everything inside and outside of your home, as well as liability. In addition to these standard policies, they can also provide for a variety of other types of home insurance needs, including:
- Coverage for condos
- Dwellings that do not qualify for standard policies, covered for structure only
- Renters insurance policies for personal property
Multi-policy discounts are available for those who choose to insure both their home and cars with Island.
Island Insurance writes a good selection of different Commercial policies, from General Liability to Truckers insurance. The Commercial policies currently available from the company are:
- Commercial Auto
- Commercial Crime
- Commercial General Liability
- Commercial Inland Marine
- Commercial Property
- Commercial Umbrella
- Garage Liability
- Workers Compensation
- Employment Practices Liability
- Surety Bonds
CoverChoice is a broad liability policy offered by Island that provides businesses with an extension combined blanket limit for coverage that can extend to a wide variety of business needs. The $250,000 limit can be applied to one single occurrence or be apportioned among multiple areas of coverage.
Island Insurance also offers Personal Umbrella policies, flood insurance through the national program, identity theft protection products, equipment breakdown coverage for homeowners, and even ground termite protection products.
Island Insurance Company is not a nationwide company, but is the largest local insurer, which should allow them to be competitive. Rates tend to fall around the middle when averages are compared. Their GoLow program for basic auto insurance has rates starting at $27/ month, although not all drivers will qualify for a price this low. It is also important to realize that a policy at this price point will have very little liability protection.
The State of Hawaii runs an annual comparison of average auto insurance costs, and the 2017 comparison shows that Island Insurance offers their lowest rates for drivers on Kauai, at $489 based on the sample coverage and vehicles the state uses. The remaining islands polled show rates over $600, coming in at $612 for the Big Island. Competing rates for the Big Island range from $250 to $1283 for the same coverage.
Rates for drivers with one violation are also shown and somewhat higher. The entire rate comparison sheet, complete with the sample coverage, can be found on the Department of Commerce and Consumer Affairs website.
Island Insurance does not offer high-risk insurance and is most likely to be competitive for drivers with clean records. They do offer many discounts that can help to bring rates down, but as with most local insurance companies, their premiums are unlikely to be as low as large nationwide insurers.
The Island Insurance website offers a wide variety of methods for submitting a claim to the company’s in-house claims department. Claims can be filed by email, by phone or by mail. They can also be filed directly through your agent. The claims forms can be downloaded directly from the Island Insurance website and the complete form sent back to the email address provided or sent to the claims department in the mail.
Island Insurance boasts a 98% satisfaction rate with their claims process, based on the company’s own customer satisfaction surveys. So take those results with a grain of salt.
Both personal and business claims are handled through the same claims office, although specialists in each area will be assigned to handle the claim.
Island Insurance Company is a BBB accredited company with an A+ rating according to the services multi-factor rating system. The BBB’s records show zero complaints in the past 3 years.
The State of Hawaii comparison report that also compares rates shows three complaints against Island Insurance for 2017. The complaint ratio is 0.113 per 1000 auto insurance policies in force. These numbers are relatively low.
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Island Insurance is a good choice for those who prefer a homegrown company committed to hiring and operating locally. They are most likely to offer competitive rates to those who insure more than one vehicle as well as a home with the company, and are best suited to those with clean records. The company has a strong background and is likely to remain stable as well as remaining local in the future.
For a list of companies that we recommend, visit our Best Insurance Companies page.