First Insurance Company of Hawaii

Since 1911, First Insurance Company of Hawaii (FICOH) provides Hawaiian businesses and residents with insurance coverage depending on their business and residential needs with expert advice and low rates. The Islands of Hawaii present unique weather challenges such as tsunamis, hurricanes and rapid accumulation of rainfall and you don’t want to be without the proper level of insurance.

As flood insurance is not typically covered by homeowner’s insurance policy, this is usually purchased as an addendum, especially if the homeowner is based in a high-risk area for flooding, earthquakes or other natural disasters.

How to file a claim

To file a claim after a natural disaster, you can contact First Insurance. They can be reached at (808) 527-7711. Their fax number is: (808) 545-3120. Additionally, you can also email them at: flood@ficoh.com.

The company is licensed to write Federal flood insurance in Hawaii and Guam.

Before a natural disaster hits, make sure that you have the appropriate level of coverage needed. First Insurance Company of Hawaii has a list of agents that can provide expert advice here http://www.ficoh.com/customer-service/find-an-agent.html.

First Insurance Company of Hawaii is a participating company in the National Flood Insurance Program (NFIP). Typically, nearly $250,000 worth of coverage for the structure of the home and $100,000 for possessions is provided by the NFIP.

Keep in mind that this covers the replacement cost coverage for the structure of the home but only cash value for your possessions. The replacement cost coverage pays the cost to rebuild the cost of your home before the damage; while the cash value for your possessions means that the value of your possessions may be lower in value the older they are.

Twenty-five percent of flood insurance claims originated from policyholders in areas deemed low-to-moderate levels of risk.

For homeowners who live in a designated flood zone, it would be prudent to purchase flood insurance but also those who live in inland-areas as overflowing areas could inflict damage to one’s home also.

For businesses, flood insurance policy can be purchased up to $1 million in coverage to $500,000 for non-residential buildings and provides up to $500,000 for their contents.

While it is aggravating to deal with the aftermath of major disasters that can inflict damage to one’s home, arguably the most expensive possession one can own, it is a relief to know that having the proper insurance is one less concern to worry about.