Naples Homeowners Insurance

The city’s 10 golf courses on the northeast side further cements Naples’ place in the Florida sun. But, during hurricane season and other parts of the year, that sun can be hampered by strong winds and heavy rains, each carrying the possibility of significantly impacting residents’ homes.

That’s why every resident needs homeowners insurance in Naples to protect their house, personal belongings and so much more. Let’s take a deeper look into the premium prices you may pay in Naples and what’s covered with a home insurance policy.

While Florida and its coastal cities have among the highest homeowners insurance premiums in the nation, when it comes to homeowners insurance, Naples residents will find their city is no exception. The average cost of homeowners insurance in Naples is $3,714 per year for a $150,000 house, $6,431 for a $300,000 house and $8,607 for a $450,000 house.

That’s a decent amount more than Florida’s average cost. One of the main reasons for the high cost of home insurance is the city’s location within one of the most hurricane-prone areas in Florida and its proximity to the Gulf of Mexico.

The premiums displayed in this article were obtained by the Florida Office of Insurance Regulation. They represent the 2022 rate filings from the state’s largest insurers and can be utilized as an average of what Floridians can expect to pay for homeowners insurance each year.

While those numbers may seem a bit high compared to the state’s average, they’re heavily impacted by homes that were built before 2001 and haven’t had a proper wind mitigation inspection. Getting a wind mitigation reduces the cost of homeowners insurance significantly.

If your Naples home was built from 2001 to the present, you’ll likely pay much less than the city’s average because stricter building codes were put in place that allow homes to withstand hurricane winds more easily. Also, if your home was built before 2001, but you’ve taken all the necessary steps to protect it from hurricanes and heavy winds, you’ll also pay significantly less than the city’s average.

Let’s break down the numbers and add a few qualifications into the mix so you can more accurately predict what you’ll pay for home insurance in Naples.

As you can see, those homeowners with a $150,000 house that was built before 2001 can save more than $2,500 per year with a proper wind mitigation inspection. All you need to do is update your home with storm shutters, impact-resistant windows and doors, and maybe add a hip roof if you can. All of those additions can save you a ton of money, but even one or two additions can save you some money.

While those numbers represent the average cost of homeowners insurance for a $150,000 home, you’ll probably have a tough time finding a house for that price. Florida’s real estate market is booming and Naples is one of the cities at the forefront of that charge. Let’s look at what you can expect to pay each year for a $300,000 house.

While those averages are double and maybe more, depending on the carrier and coverage you choose, getting a wind mitigation on a pre-2001 home can save you $5,000 or more per year. But scraping to find a $300,000 house is getting tougher and tougher. So let’s take a look at the average premiums for $450,000 homes.

The best home insurance companies in Naples for cheap premiums are Citizens, FedNat and Liberty Mutual. The next runner-up is Universal Property & Casualty Insurance Company.

But, even though those companies may be the best for average premium prices, there’s a lot more that goes into figuring those costs than the value of your home. Things like deductibles, insurance score, your home’s age and construction type, your claims history, coverage amounts and your home’s location and crime in the area are all leading factors that contribute to the cost of your homeowners insurance.

Citizens Property Insurance is one of the cheapest options for homeowners insurance in Naples, but it may not be your best option. Citizens is a state-run insurer that was designed as a last-resort option for those homeowners in Florida who couldn’t find affordable premiums — or an insurer to protect their home.

Due to the number of hurricane-related claims in the state, and many other weather factors that lead to damages, Citizens was created to help close the gap. But certain homeowners aren’t eligible for coverage from Citizens due to their home’s value. And others who are eligible may find they may not get enough coverage to protect their home.

While the primary reason for getting Naples home insurance is to protect your house from perils — such as fires, burglary, hurricanes and torrential rains — Naples homeowners insurance covers much more than just the structure of your home. Let’s take a look at the different coverages you’ll receive with a policy from Clovered.

Fortunately and unfortunately, there’s no such thing as hurricane insurance. Your Naples home insurance policy protects you from hurricane damage, but you’ll have to pay a separate hurricane deductible if you sustain damage. Hurricane deductibles work as a percentage of your dwelling coverage instead of an outright number.

So if you have $300,000 in dwelling coverage and a 2% hurricane deductible, you’ll need to pay $6,000 toward a hurricane claim before your insurer steps in to pick up the rest — up to your policy’s maximum, of course.

The good thing is that you only have to pay your hurricane deductible once a year. So if your home is damaged by two hurricanes in a busy season, the second set of damage would only require your regular deductible.

Due to its location on the Gulf of Mexico and Naples Bay, which runs through the city, it’s no surprise that Naples sees its fair share of flooding. Unfortunately, homeowners insurance doesn’t cover flooding. You’ll need a separate flood insurance policy to protect your home and personal belongings.

Naples flood insurance covers your home’s structure, your personal belongings and additional living expenses if a flood, such as a storm surge or overflowing body of water, damages your home or your property.

Getting a homeowners insurance quote in Naples, Florida is easy as ever and only takes a few minutes with our online quoting tool. As an insurance agency, Clovered partners with the top insurance companies in Naples, Florida so that we can shop the market for you and find a policy that fits your needs and your budget.

All you need to do is answer a few questions about your house and we’ll do the rest! If technology isn’t your thing, we completely understand. That’s why we have a team of licensed, in-house agents ready to help with anything you need.

Just call 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m. or email us anytime at agent@clovered.com. We’re always happy to help!