Population: 45,703 | West region | 75% below national average for homeowners insurance
Hilo is a small community with a population of 45,703 in the West region. Insurance costs here are shaped by a combination of Hawaii's regulatory environment, local risk factors, and the city's specific demographic profile.
One of Hilo's advantages is its below-average homeowners insurance costs. At $641/yr, residents pay 75% less than the national average. Over a 30-year mortgage, that adds up to approximately $58,770 in savings — a meaningful financial benefit that makes homeownership more affordable in this market.
Flood risk is a key insurance consideration in Hilo. Standard homeowners insurance does not cover flood damage — a separate flood policy through the NFIP or a private carrier is needed. Properties in FEMA-designated flood zones face mandatory flood insurance requirements if they have a federally backed mortgage.
Hilo's crime index of 35/100 is moderate — neither a significant penalty nor a notable benefit for insurance pricing. Standard security measures and a claims-free history are the most effective ways to keep premiums in check.
The total annual insurance budget for a Hilo homeowner with a car is approximately $2,293/yr ($191/mo). This is well below the national combined average of $5,097/yr — a meaningful cost-of-living advantage for Hilo residents that is often overlooked in relocation analyses. Bundling homeowners and auto with the same carrier typically saves 15-20%, which could mean $390 in annual savings.
Data sources: Insurance cost estimates derived from NAIC reports, Insurance.com, Bankrate, and Insurify (2025-2026). City risk factors from FEMA, FBI UCR, and state insurance department filings. Figures represent average annual premiums for standard coverage and may vary based on individual factors.
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