The Hawaii Life & Disability Insurance Guaranty Association is a statutory entity created by the Hawaii legislature under the Hawaii Guaranty Association Act . The guaranty association comprises insurance companies licensed to sell life insurance, accident and health insurance, and individual annuities in the state of Hawaii.
When a member insurance company becomes insolvent and is ordered to be liquidated by a court, the Guaranty Association Act allows the guaranty association to provide coverage (up to the limits spelled out in the Act) to Hawaii residents who own life and health insurance policies and individual annuities with the insolvent insurance company.
- $20,000 per person for bodily injury
- $40,000 per accident for bodily injury
- $10,000 per accident for property damage
- $10,000 personal injury protection (PIP)
The first amount is what insurance company will pay out per person injured in an accident.
The second number is tied into the first and reflects the total injury payout available per accident.
This means that in an accident caused by you entailing two or more parties facing serious medical costs, a claims battle may ensue between those parties. Ultimately, if the $40,000 does not cover entire bill, you will be individually liable.
The third number is in reference to property damage and how much per single accident the insurance policy will cover. This type of coverage is for damage caused on a variety of property types, from another driver's dented vehicle to houses, garages, light poles, and buildings.
The last number is applicable only in no-fault states. It is the amount of minimum liability you need to cover injuries to you and any passengers in your vehicle.
There are two threshold levels that no-fault systems are set up around. The first is called a verbal threshold. In layman's terms it means that the state decides the level of serious injury that must be conformed to or exceeded before an individual can sue for more damages.
The second standard, and the one implemented in Hawaii, is called a monetary threshold. This implies that the state fixes a certain sum of money that needs to be spent by the victim in order for them to try and recover more indemnification from an insurance company.
Hawaii has a monetary threshold of $5,000. This implies that if your medical bills incurred exceed this amount, you are allowed to file a claim for damages against the other driver if they are found to be culpable for the accident. However once you move the courts or exceed the pecuniary threshold, then it will necessitate establishment of fault.
This is why it is essential that one consult a personal injury lawyer if one is injured in an accident.
Other Types of Coverage available in Hawaii
There are plenty of insurance policy upgrades available, including:
Collision: This coverage protects your vehicle when it is damaged in an accident with another automobile. If a vehicle is financed, most likely the financial institute will expect that you to carry this type of insurance.
Comprehensive: This covers the loss due to theft or damage caused by reasons other than accidents like natural disasters etc.
Uninsured motorists insurance : (UMI) this covers the policy holder against the event of your car being damages by an uninsured vehicle.
Although Hawaii's legally required coverage amounts are less, it is suggested that you have at least $100,000 to $300,000 in total coverage.
Here is a list of insurance companies that provide auto insurance in Hawaii:
AAA Hawaii
1130 N Nimitz Hwy Rm A170
Honolulu, HI 96817
(808) 550-4650
Aflac
1132 Bishop St Ste 2101
Honolulu, HI 96813
(808) 521-3522
Aflac Benefits by Design
1136 Union Mall
Honolulu, HI 96813
(808) 526-4440
All American Life/Hawaii Inc
1580 Makaloa St Ste 1111
Honolulu, HI 96814
(808) 955-4422
Allstate Insurance
1314 S King St Ste 752
Honolulu, HI 96814
(808) 593-8342
Allstate Insurance
1806 S King St Ste 32
Honolulu, HI 96826
(808) 941-2886
American Mutual Group
1357 Kapiolani Blvd Ste 1000
Honolulu, HI 96814
(808) 522-8650
American Pacific Insurance Company
Honolulu, HI 96813
(808) 545-2454
First Hawaiian Bank
Honolulu, HI 96813
(808) 525-6280
First Hawaiian Insurance
Honolulu, HI 96813
(808) 643-4344
First Hawaiian Insurance Inc
999 Bishop St
Honolulu, HI 96813
(808) 525-6280
Guardian
Honolulu, HI 96813
(808) 553-8445
Hawaiian Insurance & Guaranty Company Limited
1001 Bishop St Ste 500
Honolulu, HI 96813
(808) 536-2777
Metlife Financial Services
1099 Alakea St Ste 1500
Honolulu, HI 96813
(808) 537-5433
National Interstate Insurance
1001 Bishop St Ste 600
Honolulu, HI 96813
(808) 536-3366
Pacific Guardian Life
Honolulu, HI 96813
(808) 942-1212
Pacific Guardian Life
1440 Kapiolani Blvd Ste 1700
Honolulu, HI 96814
(808) 955-2236
Primerica
2828 Paa St
Honolulu, HI 96819
(808) 834-2808
Primerica
3049 Ualena St Ste 101
Honolulu, HI 96819
(808) 833-5880
State Farm
1040 S King St Ste 105
Honolulu, HI 96814
(808) 596-0551
State Farm
1451 S King St
Honolulu, HI 96814
(808) 949-1233
State Farm
2615 S King St Ste 203
Honolulu, HI 96826
(808) 955-2628