Condo Insurance in Naples, Florida

You know that feeling on Fifth Avenue South? Salt air mixes with great food, and you spot art galleries beside boutiques. It’s no wonder many dream of owning a condo here. But it’s more than a place to stay; it’s a lifestyle where every day promises beauty and leisure. 

Yet, owning property in Southwest Florida has challenges. Summer storms turn the sky gray, and sudden weather alerts are always a thing to worry about. Coastal living means taking hurricanes and flooding seriously. In condos, a fire or pipe issue in one unit could quickly impact others. Beyond these, there are other risks like theft, which could happen when you're not home, or mold, which spreads silently until it becomes a significant issue. 

Buying condo insurance in Naples, Florida, makes a big difference. While your homeowners insurance covers the roof and shared areas, it doesn’t protect your unit’s contents. An HO-6 policy safeguards your belongings, inside features, and fixtures. It’s more than a closing formality; it’s your safety net, letting you relax and enjoy Naples’ sunsets.

Let’s break down condo insurance in Naples, including costs, protections, and ways to manage your premiums.

Quick Summary 

• Naples offers a unique lifestyle, but condos here face risks from hurricanes, flooding, theft, fire, and mold.
• Florida law does not require condo insurance, but most condo associations and lenders in Naples make it mandatory.
• Condo insurance (HO-6) differs from home insurance since it covers only the interior, personal property, and liability. 
• Average condo insurance in Naples costs around $1,500 yearly, though premiums rise for Gulf-front locations.
• A standard policy covers dwelling, personal property, liability, medical payments, and loss of use after disasters.
• Costs could be reduced by raising deductibles, reviewing the master policy, bundling insurance, adding safety features, and comparing quotes.

Is condo (HO-6) insurance mandatory in Naples, Florida?

Florida law does not require condo insurance. However, most Naples condo associations and mortgage lenders require buyers to have a policy, making coverage nearly unavoidable.

The association’s master policy covers the building’s exterior and common areas, such as elevators and gyms. However, it does not protect your unit’s interior, your belongings, or liability for injuries inside your condo. Without an HO-6 policy, these costs are your responsibility and cause financial strain. 

How is condo insurance different from home insurance?

While condo insurance and homeowners insurance sound similar, each one protects property in a different way. Condo insurance covers the interior of your unit, your property, and liability for injuries. It also pays for living expenses if your condo becomes uninhabitable. 

Home insurance, often referred to as HO-3, provides comprehensive coverage for the entire property, including the house structure, the land, and everything inside. Homeowners carry full responsibility for both the building and the surrounding property, which means their coverage is more extensive.

In Naples, a condo owner depends on the association’s master policy for shared areas and exterior walls. The individual HO-6 policy then protects the contents of the unit. In contrast, a homeowner must carry comprehensive insurance for every aspect of the property, underscoring the importance of choosing coverage that matches the type of home you own.

How much is condo (HO-6) insurance in Naples, Florida?

On average the cost of HO-6 condo policy in Naples is around $1,500 [1]  per year. However, it could vary based on specific property details and risk factors. 

Your final premium depends on several specific factors, such as:

• Location: This is a key factor. Condos directly on the Gulf Coast generally cost more to insure than those further inland, due to proximity to flood zones and historical storm data.
• Building Construction: The age of the building and its materials matter. Updated features like a new roof, hurricane shutters, or modern electrical systems could qualify for discounts.
• Personal History: Your insurance claim history and credit-based insurance score are also considered in your rate.

Want to see how Naples compares? Location greatly affects insurance costs. Here is a look at average annual premiums in other Florida cities: 

Fort Lauderdale

Fort Lauderdale’s coastline and hurricane risk mean premiums often reach $1,990 [2] yearly.

West Palm Beach

West Palm Beach faces some of the state's highest windstorm risks, resulting in average annual costs near $2,105 [3].

Orlando

Orlando’s inland location shelters it from severe storm surge, leading to more moderate average rates of $1,050 [4] annually.

Ocala

Ocala’s inland position offers a significantly lower risk of catastrophic weather, with premiums often as low as $700 [5] per year.

Jacksonville

Jacksonville’s northeastern coastal location often reduces hurricane severity, with average annual premiums around $800 [6].

What does condo insurance cover in Naples?

Naples is a coastal city with a higher risk of hurricanes, flooding, and storm surges. A master policy from the condo association usually covers shared spaces, but it does not extend to your unit’s interior or your personal property. Condo insurance in Naples, FL, fills these gaps, helping you stay protected from both everyday accidents and severe weather events.

• Dwelling coverage: Protects the inside of your condo, including walls, ceilings, floors, and built-in features like cabinets. If a fire damages your kitchen or a storm breaks your windows, this coverage helps pay for repairs.
• Personal property coverage: Cover your belongings, such as furniture, clothing, and electronics. In Naples, heavy rain and strong winds could cause damage, so this coverage helps you replace items that are lost or ruined.
• Personal liability protection: Helps if someone gets hurt in your condo or if damage from your unit affects a neighbor. For example, if a leaking pipe in your bathroom causes problems downstairs, this coverage helps with repair costs and legal fees.
• Medical payments: Takes care of smaller injury claims. If a guest trips on a rug and requires medical attention, this coverage pays the expenses promptly, without lengthy disputes.
• Loss of use: Also known as additional living expenses, helps if your condo becomes uninhabitable after a natural disaster, such as a hurricane. It covers temporary housing, meals, and other expenses until you could return home.

Tips on how to reduce the costs of condo insurance in Naples, Florida

Condo insurance is a necessary part of protecting your home in Naples. However, you could manage this cost with a few practical strategies. These methods lower your premium without sacrificing important coverage.

• Review your association’s master policy: Start by carefully reviewing your condo association’s master policy. This document details what the building already covers. For example, if the master policy covers some structural elements, adjust your own coverage.
• Increase your deductible thoughtfully: A higher deductible usually lowers your premium. You would pay more out of pocket if you file a claim, so choose a deductible you could afford. This simple step could lead to savings over time.
• Bundle your insurance policies: Many insurers offer discounts when you purchase multiple policies. You could often bundle condo insurance with auto or umbrella coverage. This approach simplifies payments and reduces overall costs.
• Improve your home’s safety: Install safety devices to receive potential insurance discounts. Add a security system, smoke detectors, or hurricane shutters for additional protection. These upgrades reduce risk and could result in lower premiums while making your home safer.
• Regularly compare quotes: Insurance markets undergo changes regularly, and as a result of this, new discounts are always appearing. Compare quotes from different providers every few years to keep your rate competitive. Contact an independent agent to compare options efficiently.
• Maintain a good credit history: Most insurers use credit-based scores to set rates. A strong credit history shows financial responsibility and could lower your premium. Monitor your credit reports for accuracy.
• Ask about age and loyalty discounts: Some insurers offer discounts for retirees or long-term customers. Always ask your insurer about possible discounts you might qualify for. 

Still have questions?

Still unsure about condo insurance? Here are some of the most common questions people in Naples, Florida, often ask.

Do condominiums in Naples, FL, hold their value?

Yes, historically they do. Naples' location, limited new development, and strong demand help condos retain value over time.

How much should you save before buying a condo in Naples, Florida?

Buyers should save beyond the down payment. Reserve funds for closing costs, inspection, and at least three months of mortgage and HOA fees.

Are condos in Naples, FL, more expensive to insure?

Coastal Naples condos have higher premiums than inland ones due to hurricane risk, but are typically cheaper to insure than comparably priced houses.

Is it better to own a condo or a house in Naples, Florida? 

This is a personal decision. A condo offers a low-maintenance, amenity-rich lifestyle, while a house provides more privacy and space. Ultimately, your budget and desired lifestyle are the deciding factors.

Does condo insurance cover water damage?

It depends on the source. A standard HO-6 policy usually covers sudden internal leaks, such as a burst pipe. However, damage from flooding is not included and requires a separate flood insurance policy.

Sources

1, 2, 3, 4, 5, 6 Data gathered from NerdWallet

Figures reflect averages from publicly available sources as of December 2025. 

This article is for informational purposes only and was compiled from sources not affiliated with Hippo. While we believe this information to be reliable, we do not guarantee its accuracy or completeness. For any insurance-related decision, please consult your licensed insurance producer.