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Best Car Insurance in Cape Coral, FL

The best auto insurance in the “Venice of America.”

Best for Bundling Home & Auto
State Farm Logo

Full Coverage Averages
• Annual Premium: $1,478
• Monthly Premium: $123

Read our State Farm review.
Low premiums
Good rates for homeowners insurance
X Must complete quote by phone

Best for Retired Drivers
Allstate Logo 2023

Full Coverage Averages
• Annual Premium: $2,194
• Monthly Premium: $183

Read our Allstate review.
Pay-per-mile option
Good bundling discount
X Higher rates for traditional unlimited mileage policies

Best for Military and Veterans
USAA Logo 2023

Full Coverage Averages
• Annual Premium: $1,245
• Monthly Premium: $104

Read our USAA review.
Lowest rates for full and minimum coverage
Superior customer service
X Available to military only

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Cape Coral, Florida, is known for its picturesque waterfront views and vibrant community. It’s home to over 400 miles of canals — more than any city in the world, including Venice, Italy. To help you make an informed decision and safeguard your vehicle on the scenic roads of Cape Coral, we compiled a comprehensive guide to the best auto insurance companies in the city.

Whether you’re a first-time car owner, a longtime resident, or someone considering switching insurance providers, our goal is to help you find the right auto insurance coverage.

Blue CarBest Car Insurance in Cape Coral, FL

  1. State Farm – Best for Home and Auto
    In addition to auto insurance, State Farm sells homeowners insurance. It offers good rates in Florida and a nice bundling discount.
  2. Allstate – Best for Retired Drivers
    Allstate’s pay-per-mile plan can save Cape Coral residents who are driving less after retirement a lot of money. It also has a good discount for bundling home and auto insurance.
  3. USAA – Best for Military and Veterans
    Available only to military members, veterans, and their families, USAA offers some of the lowest rates on the market, along with exceptional customer service.

Summary of the Best Auto Insurance in Cape Coral, FL

  1. 1.

    Best for Bundling Home & Auto in Cape Coral, FL: State Farm

  2. 2.

    Best for Retired Drivers in Cape Coral, FL: Allstate

  3. 3.

    Best for Military and Veterans in Cape Coral, FL: USAA

  4. 4.

    Best for High-Risk Drivers in Cape Coral, FL: Direct Auto

  5. 5.

    Best for Minimum Coverage in Cape Coral, FL: Geico

Comparison of the Best Auto Insurance in Cape Coral, FL

Company Average annual cost for full coverage in Cape Coral, FL Average annual cost for minimum coverage in Cape Coral, FL Discounts Types of boats insured J.D. Power Customer Satisfaction Rating in Florida (average is 810 out of 1,000)1
State Farm $1,478 $544 Accident-free, vehicle features, defensive driver course, telematics, clean record, good student, homeowner, multi-vehicle, bundling, young safe driver, student away at school Runabouts/sport boats, cruiser/yachts, sailboats, bass/fishing boats, jet skis, houseboats, kayaks/canoes 833
Allstate $2,194 $752 Bundling, multi-vehicle, new car, early signing, responsible payer, good student, vehicle features, paperless, pay-in-full, safe driver, telematics Powerboats, fishing boats, sailboats, pontoon boats, personal watercraft (e.g., jet skis) 821
USAA $1,245 $381 Clean record, garage at military base, good student, bundling, multi-vehicle, vehicle features, storing your vehicle, low mileage, legacy, telematics Motorboats, fishing boats, personal watercraft (e.g., jet skis), pontoons, sailboats, and yachts 858
Direct Auto $2,333 $772 Military, good record (3 years), good student, senior citizen, telematics, driver education, multi-vehicle, multi-product, vehicle features, prior coverage, homeowner, former customer, preferred payment, affinity, bundling Not offered Not rated
GEICO $1,409 $399 New vehicle, defensive driver,

good student,

military, bundling, vehicle features, accident-free, driver education, federal employee, affinity, multi-vehicle

Personal watercraft (e.g., jet skis), pontoons, fishing and bass boats, powerboats, sailboats 812

Detailed List of the Best Auto Insurance in Cape Coral, FL

1. Best for Bundling Home & Auto in Cape Coral, FL - State Farm

What We Like Most:

  • Multiple discounts for safe driving, including one specifically for young drivers
  • Local agents
  • Discounts for multiple cars

State Farm is the largest insurer in the country, and a good option for drivers in Florida and Cape Coral specifically. It stands out for its bundling discount and low rates.

ProsWho It's Best For
  • pro
    Homeowners who plan to bundle
  • pro
    Families with teen drivers
  • pro
    People with an at-fault accident on their record
  • pro
    Speed boat owners
ConsWho It's Not Best For
  • con
    People who need gap insurance
  • con
    Drivers with a DUI

Homeowner Discount and Bundling

In part due to hurricanes and flooding, homeowners insurance is expensive in Florida. The average cost of homeowners insurance in Cape Coral is around $3,000 annually, which is lower than the state average of $4,000 to $9,000.

On average, State Farm charges around $2,300 annually for homeowners insurance in Cape Coral, making it a good option for customers who plan to bundle home and auto insurance. Plus, State Farm’s bundling discount typically is around 17 to 25 percent, which can result in further savings.

Additionally, State Farm offers a homeowners discount in Florida. You can save just for owning a home — regardless of whether the home is in Florida or you insure it with State Farm.2

Boating Insurance

Many Cape Coral residents own boats, taking advantage of the city’s canals and waterfront lifestyle. Insuring your car and your boat with the same company can cut down on paperwork and simplify the insurance process.

Boat insurance protects your your boat against damage or loss caused by:

  • Sinking
  • Fire
  • Theft
  • Storms
  • Collision
  • Capsizing
  • Explosion
  • Stranding

State Farm insures the following types of boats:

  • Runabouts/sport boats
  • Cruisers/yachts
  • Sailboats
  • Bass/fishing boats
  • Jet skis
  • Houseboats
  • Kayaks/canoes

State Farm underwrites boat policies itself (rather than partnering with another insurance company), meaning you’ll work directly with a State Farm agent and receive the same level of service as you would with an auto policy.

Good Rates After At-Fault Accidents

Accidents can happen to anyone, even the safest drivers. An at-fault accident will increase your auto insurance premium, sometimes by up to 50 percent.

Among the companies we analyzed, State Farm has the lowest rates for drivers with an at-fault crash on their record. On average, State Farm’s rates in Cape Coral go up by only 15 percent after an accident.

State Farm annual cost of full coverage in Cape Coral with a clean record State Farm annual cost of full coverage in Cape Coral with an at-fault accident Average annual cost of full coverage in Cape Coral with an at-fault accident Savings
$1,478 $1,699 $1,902 11%

GOOD TO KNOW:

The following places are considered some of the most dangerous in Cape Coral.3 Drive with extra caution on these roads:

  • State Road 82: Poor visibility, risky driving behavior, and dangerous conditions have made this highway notorious for accidents and fatal crashes.
  • Pine Island Road (also known as State Road 78): This bustling area in Cape Coral suffers from congestion, frequent U-turns, and problematic intersection signals, leading to numerous accidents annually. The intersections with Santa Barbara, Andalusia Boulevard, and Del Prado Boulevard are where most accidents occur.
  • Intersection of Country Club Boulevard and Veterans Parkway: More than 100,000 vehicles drive this road every day, and dangerous driving habits are common, leading to accidents.

2. Best for Retired Drivers in Cape Coral, FL - Allstate

What We Like Most:

  • Three ways to earn a student discount
  • Pay-per-mile option for drivers with low mileage
  • No waiting period to purchase accident forgiveness

With its good weather and quaint charm, Cape Coral is a destination for many retirees. If you’re a Florida senior who’s driving less after retirement, you may save money with Allstate’s pay-per-mile insurance.

ProsWho It's Best For
  • pro
    Seniors driving less after retirement
  • pro
    Homeowners
  • pro
    Rideshare drivers
  • pro
    Families with student drivers
ConsWho It's Not Best For
  • con
    People who drive 10,000 miles or more annually
  • con
    People with bad credit

Pay-Per-Mile Insurance

Florida has some of the highest insurance rates in the country, in part due to Florida’s no-fault liability laws.

If you drive fewer than 8,000 miles annually, you may save with pay-per-mile insurance. Allstate is one of the few major providers (along with Nationwide) to offer a pay-per-mile option.

FACT:

According to the U.S. Department of Transportation, drivers age 65 and older log an average of 7,646 miles per year.4

Allstate’s pay-per-mile plan, called Milewise, is available in 22 states, including Florida. With Milewise, you’ll pay a daily base rate for car insurance, plus a variable per-mile rate. For example:

Type Cost
Daily rate $1.50
Per-mile rate $0.06
Miles driven per day 15
Daily rate $2.40
Average monthly rate $72

If your household has multiple cars on the same Allstate policy, you can choose whether to classify each as pay-per-mile or traditional unlimited mileage.

Good Homeowner Insurance

If you plan to bundle auto and home insurance, Allstate offers competitive rates for homeowners insurance in Florida and Cape Coral specifically. The cost to insure the average Cape Coral home with Allstate is around $1,700 — one of the lowest rates in the city.

Additionally, Allstate states that its average bundling discount in Florida is 15 percent, which can lead to further savings.

Student Savings

If you have a young driver in your household — whether they’re a teen at home or a college student — Allstate is a good option. In particular, it offers a student discount that is more flexible than many other providers. Drivers qualify for Allstate’s Smart Student discount if they are unmarried, under age 25, and fulfill any one of the following criteria:

  • Full-time student with a 2.7 GPA (B-minus average) or higher
  • Complete the teenSMART driving program (available in most states, including Florida)
  • Attend school full-time at least 100 miles away and don’t take the car with them
3. Best for Military and Veterans in Cape Coral, FL - USAA

What We Like Most:

  • Cheapest rates for teens on a family policy or on their own
  • Special discount for teens transitioning off their parents’ policy
  • Strong customer service and claims process

If you qualify, USAA is likely the best choice for your auto insurance needs in Cape Coral. It offers the lowest rates of the companies we analyzed, and it doesn’t compromise on customer satisfaction.

ProsWho It's Best For
  • pro
    Military members, veterans, and their families
  • pro
    Safe drivers
  • pro
    Boat owners
  • pro
    Rideshare drivers
ConsWho It's Not Best For
  • con
    People not affiliated with the U.S. military
  • con
    People who need gap insurance and didn’t finance with USAA

Low Rates for Military

USAA offers financial services — including auto insurance — to military members, veterans, and their families. This includes:

  • Active-duty military
  • National Guard and reservists
  • Veterans who served honorably
  • Contracted Cadets and Midshipmen
  • Officer and Warrant Officer Candidates
  • Military spouses, as well as ex-spouses and widows who aren’t remarried
  • Children and step-children of USAA members

DID YOU KNOW?

According to the U.S. Census Bureau, Cape Coral is home to 13,615 veterans.5

USAA car insurance in Cape Coral is 12 percent less expensive than the next-cheapest insurer on our list (GEICO) for full coverage. It holds superior ratings for customer satisfaction from J.D. Power, as well as an A++ financial strength rating from AM Best.

Boat Insurance

Whether you have a jet ski or a yacht, USAA offers insurance for your vessel. Through a partnership with Progressive and Markel Speciality, it offers the following coverage:

For boats and personal watercraft:

  • Bodily injury and property damage liability
  • Protection for watercraft and trailers
  • Agreed value
  • Emergency services
  • Discounts for safety, boating experience, and insuring multiple boats

For yachts and boats over $150,000:

  • Customized liability coverage unique to large boats
  • Agreed value and no deductible on most total losses
  • No depreciation for most covered losses if your boat is damaged

USAA reports that most boat insurance policies cost a few hundred dollars annually, though the type of boat and your claims history will affect your premium.

Coverage for Rideshare Drivers

Maybe you’re driving for Uber, Lyft, DoorDash, or a similar company to make a little cash in retirement. If you or someone in your household drives for a rideshare company, you need rideshare coverage.

USAA offers rideshare coverage in most states, including Florida. You may need to carry liability limits above the minimum in Florida in order to purchase this coverage.

USAA’s rideshare coverage offers protection when the app is on and you are waiting to match with a rider. During this time, your personal policy doesn’t apply because you’re working, and the rideshare company’s insurance doesn’t kick in because you haven’t matched with a rider.

4. Best for High-Risk Drivers in Cape Coral, FL - Direct Auto
Direct Auto Logo

What We Like Most:

  • Low rates for high-risk drivers
  • Can pay in cash locally
  • Save money by bundling with life insurance

Direct Auto is a good choice for Cape Coral drivers who have a DUI or other serious violation on their record. It also offers good rates for drivers with bad credit, another high-risk category.

ProsWho It's Best For
  • pro
    Customers whom standard auto insurance companies have rejected
  • pro
    Drivers with a DUI
  • pro
    People with a credit score under 580
  • pro
    People looking for minimum coverage
ConsWho It's Not Best For
  • con
    Drivers with a clean record
  • con
    People who also need boat insurance

Coverage After a DUI

After a DUI conviction, insurance companies may refuse to sell you a policy. Direct Auto specializes in selling insurance to high-risk drivers, including drivers with a DUI. On average, you’ll pay $2,964 annually for full coverage with Direct Auto after a DUI in Cape Coral.

Even if you have a DUI, you can take advantage of many of Direct Auto’s discounts.

Discount Potential savings
Military (available in 3 states, including Florida) 25%
Good student 10%
DynamicDrive (track driving habits with the Routely app) 10%
Multi-vehicle 25%
Vehicle equipment (anti-theft, airbag, anti-lock brakes) 10%
Multi-product (e.g., if you also purchase roadside assistance) 5%
Prior coverage 25%
Homeowner (including townhomes and condos) 15%
Welcome back (former Direct Auto customer) 6%
Affinity 5%
Payment (automatic, pay-in-full, or paperless) 9%
Multi-policy (bundle with another qualifying policy) 10%

Good Rates for Bad Credit

Auto insurance companies consider people with a low credit score to be high risk because statistically, people with bad credit are more likely to file a claim than people with good credit. Direct Auto insures people with bad credit at competitive rates.

Average annual cost for full coverage in Cape Coral with bad credit Direct Auto average annual cost for full coverage in Cape Coral with bad credit Savings
$3,982 $3,102 22%

Competitive for Minimum Coverage

In Florida, all drivers must hold the following coverages at a minimum:

Florida is the only state that doesn’t require bodily injury liability. While it’s technically not required, we recommend all drivers purchase this coverage.

If you’re a high-risk driver, you may choose minimum coverage or liability-only coverage as a way to save money. Direct Auto offers good rates for high-risk drivers seeking minimum coverage.

Average annual cost for minimum coverage in Cape Coral for high-risk drivers Direct Auto average annual cost for minimum coverage in Cape Coral for high-risk drivers Savings
$772 $953 19%
5. Best for Minimum Coverage in Cape Coral, FL - Geico

What We Like Most:

  • Save money with defensive driving courses
  • Cheapest rates after a speeding ticket
  • Save by installing safety equipment

With the exception of USAA (which is available only to military members and their families), GEICO has the lowest premiums in Cape Coral, especially for minimum coverage. It also has competitive rates for people with bad credit or a speeding ticket.

ProsWho It's Best For
  • pro
    Drivers on a budget
  • pro
    People with bad credit
  • pro
    People with a speeding ticket
  • pro
    Federal employees (including retired)
ConsWho It's Not Best For
  • con
    People who want to bundle, as GEICO does not underwrite non-auto policies itself
  • con
    Rideshare drivers

Good Premiums for Minimum Coverage

GEICO has some of the cheapest rates in Florida, particularly for drivers seeking minimum coverage.

Average annual cost for minimum coverage in Cape Coral with a good record GEICO average annual cost for minimum coverage in Cape Coral with a good record Savings
$587 $399 32%

Coverage for Drivers With Bad Credit

If you have bad credit and a good driving record otherwise, GEICO has some of the cheapest rates for you in Cape Coral.

Average annual cost for full coverage in Cape Coral with bad credit GEICO average annual cost for full coverage in Cape Coral with bad credit Savings
$3,982 $2,608 35%

Low Rates After a Speeding Ticket

If you plan to purchase minimum coverage and have a speeding ticket, GEICO has some of the cheapest rates in Cape Coral.

Average annual cost for minimum coverage in Cape Coral with a speeding ticket GEICO average annual cost for minimum coverage in Cape Coral with a speeding ticket Savings
$740 $606 18%

FAQs

How much is car insurance in Cape Coral, Florida?

With a good record, the average cost for minimum coverage is $587 annually ($49 monthly) and $2,019 annually ($168 monthly) for full coverage in Cape Coral, Florida. Exactly how much you pay depends on a number of factors, like your age, driving record, vehicle, and chosen coverages.

Car insurance in Cape Coral is generally cheaper than the Florida average, usually by around 20 percent.

Who has the best car insurance rates in Florida?

State Farm, GEICO, and Allstate have some of the best insurance rates in Florida. If you qualify, USAA also has good rates.

Company Average annual cost for full coverage in Florida Average monthly cost for full coverage in Florida
State Farm $2,060 $172
GEICO $2,206 $184
Allstate $3,424 $285
USAA $1,944 $162

What is the ideal car insurance coverage in Florida?

While Florida requires only $10,000 of property damage liability and personal injury protection, we recommend the following coverages at a minimum to protect your assets in the event of an accident:

Coverage Limits
Bodily injury liability, per person/per accident $100,000/$300,000
Property damage liability $100,000
Uninsured/underinsured motorist, per person/per accident $100,000/$300,000
Personal injury protection $10,000

In addition, depending on the value and age of your car, it’s often wise to purchase collision and comprehensive coverage.

Which insurance company has the highest customer satisfaction in Florida?

State Farm, Allstate, AAA, GEICO, and The Hartford have the highest customer satisfaction ratings in Florida, according to J.D. Power.

Company J.D. Power Customer Satisfaction Rating in Florida (average is 810 out of 1,000)
State Farm 833
Allstate 821
AAA 813
GEICO 812
The Hartford 812

Methodology

We took a three-pronged approach to determining the best auto insurance companies in Cape Coral, FL:

  1. Company data analysis: We analyze each auto insurance company’s coverages, premiums, and discounts available in the market. We also integrate insights from reputable sources such as the Better Business Bureau, Moody’s, AM Best, the National Association of Insurance Commissioners, S&P Global Ratings, and J.D. Power. These organizations evaluate providers based on customer satisfaction and financial stability. After weighing these factors, we identified companies offering competitive premiums and substantial discounts tailored specifically to Cape Coral, Florida. Our rankings reflect a blend of affordability, quality coverage, financial reliability, and customer contentment.
  2. Proprietary insight utilization: Over the past two decades, AutoInsurance.com has helped customers seeking tailored and budget-friendly auto insurance policies. During this period, we’ve accumulated a data set comprising millions of transaction points. Through extensive analysis, we delve into demographic attributes that correlate with optimal outcomes for specific insurance providers. This number-crunching allows us to pinpoint insurers that offer the most suitable and affordable coverage, particularly for residents of Cape Coral.
  3. Institutional expertise: With two decades of immersion in the auto insurance industry, our institutional knowledge sets us apart. Our team boasts a wealth of experience, ensuring an in-depth understanding of each auto insurance provider’s nuances, strengths, and weaknesses. Leading our expert panel is Paul Ford, a professional with almost three decades of industry expertise. Paul is president of insurance at Centerfield, the parent company of AutoInsurance.com. His background includes roles at Canadian Access, InsLogic, Capital One Insurance Services, NetQuote, Bankrate, and Datalot.

Citations

  1. Auto Insurance Customer Satisfaction Plummets as Rates Continue to Surge, J.D. Power Finds. J.D. Power. (2023, Jun 13).
    https://www.jdpower.com/business/press-releases/2023-us-auto-insurance-study

  2. Competitive Florida auto insurance discounts. State Farm. (2023).
    https://www.statefarm.com/insurance/auto/discounts/florida#accordion-73c8271fc6-item-3ccce3aa93

  3. Cape Coral Car Accident Lawyer | Auto Accident Attorney. Florin Roebig Trial Attorneys. (2023).
    https://florinroebig.com/car-accidents/florida/cape-coral/

  4. Average Annual Miles per Driver by Age Group. U.S. Department of Transportation, Federal Highway of Administration. (2022, May 31).
    https://www.fhwa.dot.gov/ohim/onh00/bar8.htm

  5. Quick Facts Cape Coral City, Florida. United States Census. (2022, Jul 1).
    https://www.census.gov/quickfacts/fact/table/capecoralcityflorida/PST045222