Naples, FL Homeowners Ins?

[PANewbie]

Hi All,

I'm up in PA studying for my Life and Health license. I have an opportunity to purchase an investment/vacation home in Naples, FL. I've heard homeowners is quite expensive in Florida, can someone give me an idea as to what I can expect annual payments to be. The home is worth approx 250k and is about 3 miles inland.

Thanks,
Gary

 

[Mark]

I don't do P and C insurance, but I have rented a house on the beach there and I love Naples.

 

[Freddie]

Hi All,

I'm up in PA studying for my Life and Health license. I have an opportunity to purchase an investment/vacation home in Naples, FL. I've heard homeowners is quite expensive in Florida, can someone give me an idea as to what I can expect annual payments to be. The home is worth approx 250k and is about 3 miles inland.

Thanks,
Gary

It is the wind storm insurance that is expensive. My guess is somewhere between $1,000 to 2,000 a year including liability. Check if you need flood insurance too which might be another $250 or so.

Ft. Myers which is next to Naples and a few other neighboring towns have even better bargains. Naples is a nicer town.

 

[max claims]

Yes I would say you would be looking at spending about $2 - $3k and it would cover hazard, wind, and flood.

 

[PANewbie]

Thanks guys, amazing how things get blown out of proportion - people (not in the insurance industry) were telling me to expect 8-10k in premiums and I'd have a hard time even finding an insurer.

 

[moonlightandmargaritas]

Thanks guys, amazing how things get blown out of proportion - people (not in the insurance industry) were telling me to expect 8-10k in premiums and I'd have a hard time even finding an insurer.

Your number is closer to reality, and you won't find a traditional insurer. It'll have to go in to the state risk pool, Citizen's Property Insurance. Rates are goin' up too.

 

[FLBRoKER]

I think somewhere in between these figures is your best bet. Here in NE Florida, you'll pay about $2-3k. Naples should be in the $3-5k range.