A chart shows the number of insurance claims and estimated losses for West Maui residential properties after the Lahaina wildfire. Graphic courtesy Insurance Division
West Maui residents claimed nearly $1.3 billion in losses in the Aug. 8 wildfires, with insurance companies paying out an estimated $660 million for the losses as of Sept. 30, according to preliminary data released by the state Monday afternoon.
In Upcountry, residential losses were estimated at $32 million with nearly $16 million paid out as of Sept. 30.
“Behind every claim is a person, a family member, a homeowner, or business owner,” Insurance Commissioner Gordon Ito said in a news release. “The loss we suffered as a state is unimaginable, but the Hawai’i Insurance Division has been and will continue to support the people of Maui as they begin rebuilding.”
After a disaster or catastrophic event, insurance loss data specific to the event is collected periodically from insurance companies doing business in the affected state, the news release said. State insurance departments use the data for multiple reasons, including determining the total number of claims and insured losses, monitoring the solvency of domestic insurers to ensure they are financially sound to make claim payments to their insureds and improving the overall experience of policyholders directly affected by a disaster.
Data is reported to the Insurance Division based on an aggregate of insurance policies for the affected lines of insurance and is not reported based on individual properties.
In West Maui, there were 3,732 claims reported under residential property insurance, including 1,748 for homeowners insurance ($516.5 million), 530 for dwelling-fire landlord ($109.8 million), 1,150 for condo unit owner ($27.9 million), 298 for renters insurance ($6.2 million) and six for other residential properties ($20,000).
In Upcountry there were 299 claims reported under the residential property insurance category, including 227 for homeowners insurance ($14.2 million), 57 for dwelling-fire landlord ($1.5 million) and 15 for renters insurance ($135,000).
Multiple claims were also filed for cars lost in the fires.
In West Maui, there were 1,985 insurance claims reported for personal motor vehicles, with estimated total losses at $25 million and a total of $21.6 million paid out as of Sept. 30.
In Upcountry, there are 63 insurance claims reported for personal motor vehicles, with estimated total losses at $602,000 and a total of $510,000 paid out as of Sept. 30.
Throughout the recovery process, the public is reminded to hire only a licensed contractor and know who they are dealing with as they rebuild and repair their home or business, the Insurance Division said.
Affected policy owners and individuals may be solicited and offered services to assist in the insurance process. The Insurance Division commended dedicated volunteers offering assistance at no cost but said it is important for residents to do their due diligence when being asked to enter a contract for assistance and to understand what the costs may be.
Those with questions may contact the Insurance Division toll-free from Maui at (808) 984-2400, ext. 6-2790.
An Insurance Division representative continues to be available for in-person assistance at the Lahaina Disaster Recovery Center at the Lahaina Civic Center Gymnasium from 8 a.m. to 6 p.m. Monday through Saturday.
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- A chart shows the number of insurance claims and estimated losses for West Maui residential properties after the Lahaina wildfire. Graphic courtesy Insurance Division
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.