Southwest Florida Homeowners – How Much Did Your Insurance Go Up?

Southwest Florida Homeowners have taken to Reddit for an open discussion about insurance. Our local residents in Fort Myers, Cape Coral, Naples and more are experiencing the complete spectrum of insurance.  From very little change in price, to a doubling of the premium, to outright dropping of coverage. Here's some real life situations.

I'll start with myself. I have a 3/2 with a pool in Estero. I did file a claim and got a new roof after Irma. No Ian claim. My insurance went from $3,200 to $4,500. Flood adds another $1,100. Home is 20 years old at 13 foot elevation.

Reddit user u/lazdo reports living in Fort Myers, west side of McGregor Blvd, near College Point. Last year they paid $4,300 and now it's $5,500.

Reddit user Time-Wait reports a much bigger increase on their 2,200 sq foot 3/2 on a canal. Reporting a 2023 premium of $5,958.31 jumping to $10,625.68 this year.

It stands to reason that living further away from the coast would spare you some of the increase. Well, maybe a little.Sunsetseeker007 reported a $1,300 increase, up to $4,100 a year for a house 20 miles inland. A Buckingham user cited a $1,800 increase.

User puzer11 seemed to fare better than most, noting only "up $1k,to $3300 on a 2400sqft house...live on a saltwater canal...had a $129k claim paid." They noted that they have Tower Hill for their insurance.

One report was an increase to a $9,000 a year policy. Another, happyunicorn77 stated "When I bout my house in cape in 2019 it was 1400 a year..now its 4500 next year 😳." Another poster noted that their insurance was being cancelled this July, likely because of the age of their house.

Newer is better: The age of the home seems to make a big deal when it comes to Southwest Florida Homeowners insurance, with a build date of the year 2000 seeming to be a relevant number. My home was built in 2004 and although my insurance went up, I was able to handle it. zooch76 who cites a home 2 miles from Fort Myers Beach in a community that was flooded last hurricane, noted only a $400 increase. Likely due to the home being newer.

I was at the liquor store last weekend and for some reason I ended up in a discussion about insurance with the employee. She lives in the community next to mine, where the houses are older. She said that many of her neighbors on fixed income were going to have to move. They don't want to, but they simply can't afford to live here anymore. Actually, I remember how this started. Guinness and Jameson were both on sale last weekend. With the price of groceries I said that it was actually cheaper to get drunk than it was to eat. Am I wrong?

It's been a few months since my last trip to Pine Island. Every time I visit one of Southwest Florida barrier islands I still hold my breath, wondering what things are going to look like.  What is still standing and what has been razed due to too much hurricane damage. It's nice to see the piles of debris cleaned up. Hopeful. However, those wide open beaches and lots are also a cruel reminder that  someone's home or business once stood there. The island is showing great signs of recovery but there is still a long way to go as evidence by these heartbreaking photos of Matlacha 17 months after Hurricane Ian.

The bridge crossing from Cape Coral to Pine Island is still undergoing repairs and can get congested. Matlacha is the community that welcomes visitors to the island. It is small, on a narrow strip of land that is a haven for both artists and fishermen. It has an eclectic, funky vibe with brightly colored homes and businesses. Cottages full of upscale art share the island with dive bars full of shrimpers and everything in between. It is uniquely Florida and people love it.

I did not venture onto the rest of Pine Island this trip but was told it is in various stages of repair also. Part of the problem with rebuilding much of Matlacha is the fact that many structures were on land that eroded and were washed away by the hurricane. Not to mention the bureaucracy of insurance and government that so many hurricane survivors are all too familiar with.

If you go to Matlacha, many of the shops and galleries have reopened. For dining, The Perfect Cup is open and so is Blue Dog Bar and Grill. Further into Pine Island, The Lazy Flamingo and Tarpon Lodge are also open for dining. I was at the lodge over the summer and here are some photos I took from the drive out. You can see not all is gloom and doom.

Here is an update. Check out there photos of Matlacha 17 months after Hurricane Ian. Take a drive and visit the businesses that are open if you can.