VIDEO: "What Insurance Do I Need for My Home in Naples?"

A local REALTOR® can help you identify all the costs of homeownership including those from required and recommended insurance coverage. The type and location of the home and whether you pay cash or pursue financing will impact your coverage options. If you intend to finance the purchase, your lender will likely require you have homeowners insurance. Additionally, if you put less than a 20 percent down payment on the home, you will need to acquire private mortgage insurance. Condominium owners typically pay a portion of the property’s policy premium in their association fees. However, a separate interior coverage policy may be recommended. A local REALTOR® can help you determine whether a property is located in a FEMA-designated flood zone, which will require you purchase a flood insurance policy. Your REALTOR® can also assist you in exploring other property liability protection or insurance solutions that may be available to homeowners in Florida.