State Launches Homeowners Insurance Comparison Site

Published On: Jan 03 2012 08:40:21 AM HST   Updated On: Jan 03 2012 08:47:30 AM HST

There's a new tool Tuesday morning that could make a big impact on how much you pay for homeowners insurance.

The state has launched a comparison website, allowing Hawaii residents to see for themselves how much companies are charging.

Insurance Commissioner Gordon Ito asked for companies to VOLUNTARILY submit their rates last summer, over concerns the state's Hurricane insurance premiums were too high. 14 companies agreed and participated in the survey, representing about half of the insureres in Hawaii.

"We hope that the consumers with 2012 starting, and renewals coming around, will use this rate comparison sheet to save money first of all. Create some competition in the martketplace, which we hope will ultimately result in lower homeowners and hurricane rates," Ito said.

Those rates for all kinds of homes have been posted online under the name, "Consumers Guide to Homeowner's Insurance."

A link to those comparisons can be found as the As Seen ON KITV section of this website.


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