As a homeowner in Hawaii, it’s important to know that flood insurance is not standard in traditional policies. This is vital, as Hawaii is home to many natural disaster risks and potential floods. Although high-risk areas have at least a 1% chance of flooding, the peace of mind of flood insurance is priceless. At Innovative Insurance Resources in Honolulu, HI, we work with clients to ensure maximum coverage for their homes, year-round.
Am I at Risk?
Hawaii has plenty of natural disasters, making it critical for homeowners and tourists alike to remain vigilant year-round. Throughout the Hawaiian islands, there are high-risk areas, moderate (to low-risk) regions, and undetermined risk areas. The State of Hawaii Department of Land and Natural Resources Engineering Division provides a Flood Hazard Assessment Tool, or FHAT, to help those located in Hawaii determine their personal flood and disaster risk.
Flood Insurance is Separate
Unfortunately, a typical homeowner’s insurance policy does not provide flood insurance. However, it is possible to find a separate flood insurance policy via the National Flood Insurance Program, or NFIP. Flood insurance may also be obtained by working with private providers. Remember, there may be a 30-day waiting period (unless your selected policy is purchased at the same time as the closing of your new home). Flood insurance helps cover physical damage to your property and the replacement costs of lost damages.
Flood insurance in Honolulu, HI is imperative, whether you’re protecting your main home or a vacation property. At Innovative Insurance Resources, we’ll work with you to review your flood insurance policy options, coverage needs, and protection guarantees so you can maintain your sense of security. Contact us today to learn more about flood insurance for your Hawaii home or investment.
