What to Do When You Can’t Find Your Home Insurance and You Paid Cash for Your Property in Hawaii

What to Do When You Can’t Find Your Home Insurance and You Paid Cash for Your Property in Hawaii

I recently received a call for help regarding this situation, and I realized many others could benefit from the information. The homeowner is bedridden and unable to communicate, and the family is stepping in as he prepares to pass peacefully.

Unfortunately, they can’t locate the homeowner’s insurance policy, and the only person who knows the details is their father. To assist them, I put together a plan of action, which I’m now sharing with you!

When you are buying a home in Hawaii with cash, you have more flexibility as it is a great way to avoid the hassle of mortgages and loan-related insurance requirements. However, homeowners insurance remains a critical protection against natural disasters, theft, and liability. If you suddenly realize you can’t find your insurance policy—or worse, you’re unsure if you even have one—it’s crucial to act quickly. Here’s what you should do to track down your coverage or secure a new policy.

1. Search for Existing Insurance Documents
Before panicking, do a thorough search to locate your insurance policy. Try these methods:

– Check your email inbox – Search for keywords like “home insurance,” “policy,” or the name of insurance providers you might have used.
– Review physical files – Look through any folders containing closing documents or financial paperwork.
– Check with your escrow officer or real estate agent– Sometimes, they keep records of recommended insurers used during the purchase.
– Look at past bank statements or credit card records– Identify any payments made to an insurance company.

-Check all mail – Home insurance companies send annual renewal notices, policy documents, and sometimes promotional materials. Look through past mail for anything from an insurer.

– If you have multiple properties, it is most likely that the same policy was used on all of the other properties. If you have a mortgage on some of these properties, contact the bank and see if they have any information on record.

2. Contact Insurance Companies Directly
If your family member can’t speak, you will need to have a POA ( Power of Attorney) to be able to connect with all of these companies. If you still can’t find your policy, reach out to major insurers in Hawaii to see if they have a policy under your name. Some of the well-known home insurance providers in Hawaii include:

– State Farm
– Allstate
– Farmers Insurance Hawaii
– HEMIC (Hawaii Employers’ Mutual Insurance Company)
– DTRIC Insurance

Provide them with your name, property address, and any other relevant details to see if they have an active policy in your name.

3. Consult Your Homeowners Association (HOA) or Property Management (if applicable)
If your home is part of an HOA or a condominium association, they may have master insurance policies covering parts of your property. Contact them to check if they have information on any policy linked to your home.

4. Verify Insurance Requirements in Hawaii
Since you paid cash for your property, you are not legally required to have homeowners insurance. However, given Hawaii’s susceptibility to hurricanes, volcanic activity, and flooding, insurance is highly recommended. Typical coverage includes:

– Dwelling protection – Covers damages to the physical structure.
– Hurricane insurance*– Usually purchased separately due to high hurricane risks.
– Flood insurance – Not included in standard policies and may be required if you’re in a FEMA-designated flood zone.

## 5. Get a New Home Insurance Policy
If you confirm that you do not have insurance, obtaining a policy should be a top priority. Here’s how:

– Compare quotes from multiple providers – Use online comparison tools or work with an insurance broker who specializes in Hawaii properties.
– Check for hurricane and flood coverage*– These may need to be added separately.
– Ensure you have adequate liability protection – This can help protect you financially if someone is injured on your property.
– **Ask about discounts** – Some providers offer discounts for security systems, bundling with auto insurance, or being a long-term resident.

6. Keep Your Policy Accessible
Once you secure a new policy (or find your existing one), make sure to store it safely:

– Save a digital copy in cloud storage (Google Drive, Dropbox, etc.)**
– Keep a printed copy in a fireproof safe
– Share policy details with a trusted family member**

Losing track of your home insurance policy can be stressful, especially in a state prone to natural disasters like Hawaii. If you can’t find your insurance and paid cash for your home, take immediate steps to either locate your policy or secure new coverage. A little proactive effort now can save you from major financial setbacks in the future.