Naples Condo Insurance

Affordable Condo Insurance in Naples, Florida

Naples, Florida, sits along the Gulf of Mexico and is home to 20,600 residents. Those who live here enjoy miles of sugar-white beaches and world-class shopping on 5th Avenue South. The Naples Pier is a symbol of what folks most love about this historic waterfront town: an oceanside lifestyle. But there’s something here for everyone, including challenging golf courses that surround the city, the perfect surf ‘n turf mix.

Its proximity to the water makes Naples a perfect home for beachgoers, but it also gives residents front-row seats to dangerous tropical storms. That can also make shopping for affordable Florida HO6 insurance a chore, especially as national carriers leave the Florida market.

We’re here to make that easy. Let’s take a closer look at what condo insurance costs, what it covers, and tips for protecting your home.

Naples Condo Insurance Costs

One of the difficult things about buying Florida condo insurance is the cost. It costs, on average, nearly double the national average to insure a Florida condo, according to the National Association of Insurance Commissioners (NAIC). That’s because the state has been hit hard by hurricanes. As a result, many insurance companies don’t operate in Florida, and those that do are pricey.

We’re built to keep prices low. Our average condo insurance cost in Naples is $1,449 a year for high-rise units.

Average Naples Condo Insurance Premiums

All our policies are customized to meet your needs for the best possible price. Premiums are based on your condo’s location, age, safety features, construction, and more. High rises tend to be cheaper to insure because they are built to withstand hurricane winds.

The best way to find out how much your condo insurance will cost is to get a quote. It’s fast, accurate, and doesn’t impact your credit score.

What Naples Condo Insurance Covers

Condo insurance is an HO6 policy. That means it works with your homeowners association’s master policy. Many condo owners mistakenly think the master policy covers everything – it doesn’t. It has some significant gaps that your own condo insurance fills.

The master policy can cover common areas and the exterior to the walls of your condo building. It doesn’t cover the inside of your condo or your belongings. That’s a job for your policy.

Even if something is covered by the master policy, you’ll usually have to help cover the deductible. That’s called a loss assessment, and it’s an expense your HO6 policy can help cover.

Our condo insurance includes:

• Dwelling interior coverage: Can help pay for damage to your condo’s walls, ceilings, floors, and more.
• Personal property coverage: Can repair or replace lost or damaged belongings, like electronics, home goods, clothing and more.
• Loss of use coverage: Can pay for additional living expenses, like temporary housing or transportation, when a covered claim keeps you from living at home.
• Loss assessment coverage: Helps pay for your portion of the master policy deductible.
• Personal liability coverage: Pays for legal and settlement costs if someone accuses you of property damage or bodily injury.
• Medical payments coverage: Helps cover small medical expenses if a visitor is injured while on your property.

Condo Coverage for Naples Natural Disasters

Condo insurance covers many forms of damage to your home, including fire, vandalism, theft, and windstorms. But Naples has some serious natural disasters to content with, too. Let’s see how your policy can respond to major events.

Naples Hurricane Coverage

You don’t have to go back many years to remember how much damage a hurricane can do to the Naples community. Hurricane Irma directly impacted the city in 2017, causing millions in damages. Our condo policies automatically include hurricane insurance to help homeowners rebuild and repair after a named storm.

Naples Flood Insurance

It only takes one strong rainfall to cause flooding in the low-lying areas of Naples. More significant flooding occurs when a serious storm drenches the city. Damage from either of these events is not covered unless you have flood insurance.

Most think that the only option for flood insurance is the National Flood Insurance Program (NFIP). But you can save more and get more coverage with our flood insurance endorsement. Just add it to your condo policy for as little as $175 a year.

Naples Sinkhole Coverage

Naples has high concentrations of limestone deposits, which are a precursor to sinkholes. As the limestone-heavy ground becomes saturated, the limestone can erode and cause the ground to collapse. These sinkholes cause big structural damage to walls, ceilings, and foundations.

Every Kin policy offers coverage for catastrophic ground cover collapse at no additional charge. This protects you against worst-case sinkhole events.

Tips for Keeping Naples Condo Insurance Affordable

A quick way to save on your coverage? Take advantage of our easy condo insurance discounts. We reward homeowners by offering credits for:

• Wind mitigation features.
• Smart home security systems.
• Being 55 years or older.
• Signing up for our Responsible Repair discount.
• Opting for an electronic policy.

You can also save by adjusting your deductible. The higher your deductible, the lower your premium. Just make sure you’re comfortable with the deductible amount – it will be the portion you’re responsible for when you file a claim.

Ready to see how much you’ll save on your Naples condo insurance? Apply for a quote today!