From hurricanes to theft, you can find an endless number of risks that can damage your property in the Sunshine State. A comprehensive homeowners insurance policy can give you the peace of mind that comes with knowing that your property is protected. Today, we’ll take a look at some of the best homeowners insurance in Naples, FL and what you can expect your policy to cover.
Best Home Insurance Providers in Naples, FL:
- Cheapest Home Insurance in Naples, FL: Allstate
- Best for Manufactured Homes: American Traditions
- Best for Military Families: USAA
- Best for Adjustable Deductibles: State Farm
Best Home Insurance Providers in Naples, FL
As a homeowner in Florida, you have plenty of options when it comes to choosing a homeowners insurance company. Let’s take a look at a few of the best companies that offer policies in Naples.
1. Cheapest Home Insurance in Naples, FL: Allstate
Be sure to consider a policy from Allstate if you’re on a budget and searching for cheap home insurance. Allstate offers some of the most affordable policies in Naples as well as a variety of discounts you can use to save even more on your coverage.
You can save when you install a home security system, stay claims-free for at least a year and sign onto your policy at least 7 days before your current coverage ends. If you have an auto insurance policy from Allstate, you can even save a whopping 25% on your homeowners insurance.
2. Best for Manufactured Homes: ASI
Many insurance providers offer limited coverage for manufactured or mobile homes in Florida. American Strategic Insurance is the largest homeowners insurance company for mobile homeowners in the Sunshine State and it offers especially generous coverage options.
All of ASI’s manufactured home policies include loss-of-use coverage, which covers the cost of living expenses if your home is destroyed during a natural disaster. It also offers medical payments coverage as an added benefit, which can extend your health insurance if you’re injured on your own property.
3. Best for Military Families: USAA
USAA is a homeowners insurance provider that offers affordable policies for veterans and active-duty military members. USAA’s policies include replacement cost coverage and loss-of-use coverage as standard inclusions on all of its policies.
USAA also includes earthquake insurance and home-sharing coverage as standard coverages — 2 protections that are typically reserved for add-ons. Though not everyone will qualify for a policy through USAA, those who do will find excellent, expansive coverage at reasonable prices.
5. Best for Adjustable Deductibles: State Farm
Like health insurance and auto insurance, your homeowners insurance will include a deductible that you must meet before your insurance begins paying for repairs or replacements. When you purchase your home insurance from State Farm, you have the option to choose a higher or lower deductible to control costs.
By choosing a higher deductible, you’ll save month-to-month on your premium payments. State Farm also offers some generous discounts to complement their already-low premiums.
Average Annual Home Insurance Premium in Naples, FL
Florida is the most expensive state for homeowners insurance. If your home is located in Naples, you can expect to pay around $3,800 a year for homeowners insurance. That’s about $316 a month.
Most homeowners insurance companies offer discounts that you can take advantage of to lower your monthly insurance expenses. Some of the most common insurance discounts you might find include:
- Discounts for home security systems: Almost every homeowners insurance policy will protect you against vandalism and theft. Installing a home security system makes you less likely to be a victim of theft, which lowers your risk as a policyholder. This means that you’ll pay less for your insurance.
- Discounts for bundling policies together: Most major names in insurance offer protection for more than just homes. If you already have an auto, business or life insurance policy with a major insurance company, consider purchasing your homeowners insurance through the same company. You might be able to save up to 25% on your homeowners insurance policy when you bundle it together with another type of coverage.
- Discounts for smoke detectors: Do you have working smoke detectors in your home? If you don’t, here’s 1 more reason to install them: You can save money on your homeowners insurance policy by installing smoke detectors and ensuring that they’re functioning. This is because most homeowners insurance policies protect you against damage from a fire. Functioning smoke detectors can help you call for help before fire damages your home.
- Discounts for staying claims-free: If you file a homeowners insurance claim once, you’re statistically more likely to need to file another claim in the future. Most homeowners insurance companies will offer you a percentage discount for each year you remain claims-free on your policy.
The specific discounts you can claim from your homeowners insurance company will vary depending on your chosen provider. Contact a representative from your insurance company to learn more about the discounts you can claim.
What Does Homeowners Insurance Cover?
Most homeowners insurance policies include 3 types of coverage: dwelling coverage, personal property insurance and liability insurance. Let’s take a closer look at what’s covered under each protection.
- Dwelling coverage is the most basic protection that your homeowners insurance policy offers and it’s also the easiest type of protection to understand. Dwelling coverage protects your home’s physical structure — that includes your walls, flooring and the rest of the pieces that make up your house. Your dwelling coverage may or may not extend to other structures on your property that aren’t attached to your home, like a tool shed or fence.
When you sign onto your policy, you’ll receive a list of covered perils. In the world of insurance, a “peril” is anything that can damage your property. As the name suggests, a covered peril is a situation under which you’d be eligible to file a claim with your insurance company. Some of the most commonly covered perils include fire, damage from wind, burglary and smoke.
- Personal property insurance protects your furniture, electronics, clothing and more. If your personal property is damaged or destroyed by a covered peril, your insurance will help you pay for replacements up to your coverage limit. Almost every homeowners insurance policy also includes coverage for items that are stolen during a break-in.
Your personal property insurance also extends outside of your home. For example, if your locker at work is broken into and the thief takes your laptop, you can still file a claim under most homeowners insurance policies.
- Personal liability coverage helps you pay for a lawyer to defend you if someone sues you for medical bills after being injured on your property. If a court awards the plaintiff a settlement, your liability coverage would also help cover this bill.
What Does Homeowners Insurance not Cover?
Even the best homeowners insurance policy won’t cover everything. Some of the most common exclusions you might see on your policy include:
- Damage from flooding and earthquakes: Most homeowners insurance policies don’t include floods or earthquakes in their list of covered perils. If you want protection from an earthquake, you may be able to purchase a separate earthquake insurance policy from the company that provides your homeowners insurance. If you live in an area prone to flooding, you can purchase a flood insurance policy from FEMA’s National Flood Insurance Program.
- Very high-value items: Your homeowners insurance includes coverage for your personal property. However, most insurance policies also include limitations on the amount of coverage you can claim for a single item. For example, your homeowners insurance policy might include $10,000 of coverage for personal property — with a clause that says you can only use up to $1,000 to replace jewelry.
If you have something very expensive that you want to protect, you might want to purchase a policy add-on called a rider. A rider is an extension that expands your policy to include more coverage for a single item. Riders also expand your protection to include more circumstances and situations. For example, if you remove your wedding ring to wash your hands at a restaurant and forget to pick it back up, a rider will cover the cost of a replacement. This situation wouldn’t warrant a payout under most standard homeowners insurance policies.
- Damage from a lack of maintenance: Most homeowners insurance policies don’t cover damage that results from a lack of maintenance or general wear and tear.
Specific exclusions may vary by insurance provider. Make sure you read through your policy’s terms and conditions so you understand exactly what is (and isn’t) covered.
Protect Yourself with Home Insurance
Like life insurance and auto insurance, every homeowners insurance company uses its own unique formula to determine how much you’ll pay for coverage. Don’t settle with the first insurance company you contact — get a quote from a few competing insurance providers before selecting your policy. You have no idea how much you might be able to save before you see what’s out there!