In this video, Naples real‑estate specialist Renee Han explains what homebuyers need to know about homeowners and flood insurance in coastal Naples. She notes that Naples has some of the highest homeowners‑insurance premiums in the nation—averaging about $2,502 per year for $300,000 dwelling coverage, roughly 9 % above the Florida average and 43 % above the national average. She advises buyers to shop for quotes, compare deductibles and coverage, and secure a policy before making a non‑refundable deposit. Han outlines factors that can make a property uninsurable or raise rates, such as an aging roof or polybutylene plumbing, and highlights common discount opportunities (storm shutters, impact‑resistant windows/doors, roof upgrades, security systems). She stresses the importance of flood insurance—often via the FEMA National Flood Insurance Program—even when it isn’t legally required. Finally, she reminds viewers to weigh higher insurance costs against potential savings from lower property taxes and Florida’s lack of state income tax, encouraging a macro‑level cost assessment before moving to Naples. The video ends with a call to action to contact her for assistance.
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Hello, Renee Han, your Naples real estate expert. This video is part of a series I call Naples Revealed, where we explore all the various aspects of Naples, Florida living. Be sure to subscribe below to keep up to date on new videos to help familiarize yourself with the Naples area. And of course, reach out anytime if I can be of assistance to you on your journey to explore Naples living. So you're really impressed with the Naples area, and you may have even found a home or two that you've gotten excited about. I'm so glad to hear it. One factor you will consider, if you haven't already, is going to be homeowners insurance. Naples, being a coastal city, has specific insurance considerations due to the potential of natural disasters. Like hurricanes. And I'm not going to mislead you, those costs can sometimes be substantial. However, it is often not as bleak as the media makes it out to be. After a natural disaster like a hurricane, it can often leave some insurance carriers belly up or pulling out of certain markets or even certain property types. But there are plenty of reputable insurance companies still offering policies in our area. And of course, if I'm serving as your real estate partner, I'm always happy to put you in contact with a few of those insurance companies. Now, while insurance premiums can vary depending on factors like the size of your home, its location, and your coverage options, which you have a choice of, you can generally expect to pay a bit more than in some inland areas. Naples has some of the highest ownership insurance premiums in the country, it's reported, averaging anywhere from $2,502 per year for a policy with $300,000 dwelling coverage. This is 9% higher than Florida, the Florida average, and 43% higher than the national average. But it's important to shop around and compare quotes from different insurance carriers to find the best deal for your needs. Just make sure that when you do shop around, you're getting a true apples-to-apples comparison, considering deductibles, coverage, and other important considerations. One thing to keep in mind is that many insurance companies often offer discounts for homeowners who take preventative measures protect their properties. This could include things like installing storm shutters or impact-resistant windows and doors, upgrading your roof, or having a security system. You will definitely want to reach out to an insurance company of your choice before making an offer, or at least before your deposit on your home purchase becomes non-refundable. This is to ensure that not only do you know the cost of the insurance potentially, but also to ensure that you can even get a policy. There are some factors that can cause it not to be such, as things like a roof that is believed to be beyond its recommended age, even when it doesn't leak, or the presence of polybutylene plumbing on older homes. In addition to standard homeowner's insurance, you also want to make sure you consider flood insurance. While not always mandatory, it's highly recommended for coastal areas like Naples. As flood damage can be devastating if it happens to you. The Federal Emergency Management Agency offers flood insurance through the National Flood Insurance Program, which is also called NFIP. Overall, while homeowners insurance in Naples may have some unique considerations, it's generally manageable. With a little research and planning, you can find a policy that provides you with the coverage that you need at a competitive price. Now, without question, insurance may be more expensive than what you're used to paying where you are, but keep in mind there may be other offsets. For example, our property taxes may run lower than where you are, or maybe you are benefiting from not having to pay income tax when you move to Florida. So just make sure that you're doing your assessment at the macro level to have a full picture of the true cost of the move to Naples, Florida. Join me next time when we tackle another aspect of Naples living. Again, this is Renee Han, your Naples real estate expert, and you can find me at yournaplesexpert.com.
