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Hawaii Life Insurance




According to the National association of Insurance Commissioners US insurance premiums amounted to$945.9 billion in 2005 which was down 1.1% $956.9 billion.
Premiums in the property/casualty sector totaled $427.4 billion (excluding state funds), while life/health premiums totaled $518.5 billion. As on 2003 average expenditure on auto insurance in the US, stood at $821 which was a percentage of 5.7% over average expenditure in 2002.

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





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