Naples, Florida Homeowners Insurance

7 Minute Read.

article header image

Located in Southwest Florida on the Gulf of Mexico, Naples is a bustling town with a reputation for having some of the best scenery and beaches in the Sunshine State. It’s easy to see why many people call Naples home, as its downtown area is conveniently located north of downtown and offers a well-made way to access the ocean-accessible waters of Keewaydin Island, which is situated at the southern tip of town.

The possibility of heavy rains and strong winds impacting the residents of homes can be significantly hampered by the sun during other parts of the year and the hurricane season. In Florida, the sun further cements Naples’ position on the northeast side of the city, where there are 10 golf courses.

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

Average Cost of Homeowners Insurance in Naples, Florida

The average cost of homeowner’s insurance in Naples is $450,000 for a house and $8,607 for a year, $300,000 for a house and $6,431 per year, and $150,000 for a house and $3,714 per year. Naples is an exception when it comes to homeowner’s insurance, as it does not have the highest premiums among coastal cities in Florida or in the nation.

The primary factor behind the steep price of home insurance in Florida is its close proximity to the Gulf of Mexico, which is known for experiencing a high frequency of hurricanes. This results in a significantly higher cost compared to the average insurance rates in the state of Florida.

Average Cost of Homeowners Insurance in Naples for 2022

It’s Time to Change Your Home Insurance Policy.

We collaborate with the leading homeowners insurance companies in the country to provide you with a personalized policy at a reasonable cost.

Florida Office of Insurance Regulation Premium Consideration Factors

On average, Floridians can anticipate paying for their homeowners insurance based on the 2022 rate filings provided by the largest insurance companies in the state. The Florida Office of Insurance Regulation collected these premiums, which are presented in this article.

Construction before 2001 with Wind Mitigation.

This is an example of the premium features for wind mitigation shown in the past three years, with no claims and a maximum 2% deductible for hurricanes and a $500 deductible for non-hurricane events. This is the risk for a current home in Florida that has masonry construction and a replacement value.

Construction before 2001 without any wind mitigation measures.

This risk applies to a Florida masonry home without any wind mitigation features. It includes examples with a replacement value of $150,000, a non-hurricane deductible of $500, a hurricane deductible of 2%, and no claims made in the last three years.

2001-Present Construction.

This Florida masonry home carries a risk of limited wind mitigation discounts for minimum premium due to its features and lack of a hip roof. It has had no claims in the past three years, and its hurricane deductible is set at 2% while the non-hurricane deductible is $500. The current replacement value for this property is $300,000.

*Wind Mitigation.

Wind mitigation is any protection on your home that helps decrease the damage caused by strong winds, like a hurricane. This can include certain roof attachments, impact-resistant windows and doors, extra water-resistant seals, and coverings. As a result, you can typically get deep discounts on your home insurance premiums.

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

If your home in Naples was built from 2001 to the present and you have taken all the required precautions to safeguard it from hurricanes and strong winds, you can expect to pay considerably less than the average cost. This is due to the implementation of more stringent building regulations, which enable homes to better withstand hurricane winds.

Let’s break down the numbers and add a few additional qualifications to accurately predict what you’ll pay for home insurance in Naples.

$150,000 House in Naples for 2022

You can save some money by making two or even one addition, but you can save a ton of money by making all of those additions. In order to update your home with storm shutters, you need to save a ton of money. If you need to update your home with impact-resistant doors, windows, and storm shutters, you can save a ton of money. Homeowners with a house built before 2001 can save more than $2,500 per year, as you can see with those who have a $150,000 house.

Let’s take a look at what you can expect to pay for a house in Naples, which is one of the cities at the forefront of Florida’s booming real estate market. You’ll probably have a tough time finding a home for less than $300,000, and those numbers represent the average cost of homeowners insurance.

$300,000 House in Naples for 2022

Let’s examine the mean costs for $450,000 residences. However, it is becoming increasingly challenging to locate a $300,000 property. Obtaining a wind mitigation for a home built before 2001 can result in annual savings of $5,000 or greater, depending on the insurer and the selected coverage, whereas those averages are twice as high or possibly even more.

$450,000 House in Naples for 2022

It’s Time to Change Your Home Insurance Policy.

We collaborate with the leading homeowners insurance companies in the country to provide you with a personalized policy at a reasonable cost.

Best Home Insurance Companies in Naples, Florida

In Naples, cheap premiums are offered by Citizens, FedNat, and Liberty Mutual, making them the top-rated home insurance companies. Following closely behind is Universal Property & Casualty Insurance Company.

Age home’s your score insurance deductibles like Things all contribute to the cost of your homeowners insurance. These factors include the crime rate and location in your area, the coverage amounts and claims history of your home, the type of construction and the age of your home, and factors such as your insurance score and deductibles.

Homeowners Insurance From Citizens Insurance Naples, Florida

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

Citizens was established to assist in bridging the divide caused by the multitude of claims related to hurricanes in the state, as well as various other weather elements that result in property damage. Certain homeowners, based on the value of their residence, may be ineligible to obtain insurance coverage from Citizens. Such individuals might discover that even if they meet the eligibility criteria, the coverage provided may not be sufficient to safeguard their home adequately.

Naples Homeowners Insurance Coverages

With a plan from Clovered, let’s examine the various protections you’ll obtain. Naples homeowners insurance encompasses far beyond solely the physicality of your dwelling, whereas the primary purpose of acquiring Naples home insurance is to safeguard your residence against hazards — such as blazes, theft, storms, and heavy downpours.

How Much Is Hurricane Insurance in Naples, Florida?

Rather than a direct numerical value, hurricane deductibles function based on a proportion of your dwelling coverage. In the event of damage, you will be required to cover a distinct hurricane deductible; nevertheless, your Naples home insurance policy safeguards you against hurricane-related harm. Fortunately and unfortunately, hurricane insurance does not exist.

If you have a dwelling coverage of $300,000, you will need a deductible of 2% towards a hurricane claim, so, of course, your insurer will pick up the rest to a maximum of $6,000, as per the policy’s maximum policy limit.

If your home gets damaged by two hurricanes during a busy season, then your standard deductible would only apply to the second set of damages. The advantage is that you are only obligated to pay your hurricane deductible once annually.

Flood Insurance in Naples

Safeguarding your residence and personal possessions necessitates an independent flood insurance plan. Regrettably, home insurance does not encompass inundation, which is unsurprising considering Naples’ positioning on the Gulf of Mexico and Naples Bay, both of which contribute to the city’s recurrent floods.

If there is a flood caused by a storm that results in water overflowing or surging into your property or home, flood insurance in Naples will cover the additional living expenses and personal belongings, as well as the structural damages to your home.

Stay Protected from Flooding with Flood Insurance.

Do you rather choose to bear the costs for costly and customary flood damage by yourself or allow an insurance policy to take on the responsibility?

Homeowners Insurance Quotes in Naples, Florida

As an insurance agency partner with top companies in Naples, Florida, Clovered offers an online quoting tool that makes getting a homeowners insurance quote in Florida, Naples quick and effortless, taking only a few minutes. We can help you find a policy that fits your budget and meets your needs by shopping the market.

We have a team of licensed in-house agents ready to help you with anything you need to help with. We completely understand why that’s the case if technology isn’t your thing! We’ll do the rest and answer any few questions you have about your house.

Please feel free to contact us via email (clovered@agent.Com) or by sending a private message from 6:00 am to 8:30 am, Friday through Monday. You can also reach us at 4117-255-833.

Homeowners

It is time to change your homeowners insurance policy.

We collaborate with the best homeowners insurance firms in the country, allowing you to obtain a personalized policy at a reasonable cost.

The editorial material on Clovered’s website is intended to be informative content and should not be regarded as legal guidance.