Cheapest Auto Insurance in Cape Coral, Florida (2023)

The overall average monthly cost for car insurance in Cape Coral is $243, which is less than the state average of $261. 

The ninth-largest city in the state, Cape Coral has a population of more than 215,000 people. Motor vehicle theft rates in the area are lower than in larger cities, like Jacksonville, Miami, and Orlando, which might help explain the lower average car insurance rates in Cape Coral.

Car insurance in Florida is expensive, though. Drivers across the state pay more than the overall national average of $155 per month. You can take steps to secure a lower rate, like comparing quotes from multiple insurers.

Here’s what you should know about finding cheap car insurance in Cape Coral.

Cheapest car insurance companies in Cape Coral

The best auto insurance company for you depends on your budget and insurance needs, but State Farm, GEICO, and Hugo offer some of the best cheap coverage options for drivers in Cape Coral.

Here’s what you need to know about three of the top insurers offering coverage in Cape Coral.

Best insurer for cheap rates: State Farm

Best insurer for discounts: GEICO

Best insurer for on-demand coverage: Hugo

How to get the cheapest car insurance in Cape Coral

Your age, ZIP code, credit, and driving history affect how much you pay for car insurance. Even though you can’t control a number of factors, you can lower your coverage costs in a few different ways:^[2]

• Check for discounts. Most insurance companies offer driver discounts that can help you save 10% or more. Most auto insurance agents inform you about discounts before you finalize the car insurance policy, but it’s worth it to double-check and ask what discounts you qualify for.

• Comparison shop. Comparing quotes from at least three insurers is the most effective way to find the lowest car insurance rates available to you.

• Increase your deductible. Your deductible is the amount you pay when you file a claim. You agree to pay more for claims when you raise your deductible. As a result, your monthly premium decreases. It’s a great way to lower costs, as long as you select a deductible amount you can afford.

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Cheapest liability-only car insurance in Cape Coral: State Farm

Florida drivers must carry liability car insurance, which helps pay for your injuries and the other driver’s vehicle repairs when you cause an accident. The coverage doesn’t help pay for any of your car repairs.^[3]

State Farm offers the cheapest liability-only coverage in Cape Coral, with a cost of $63 per month.

Here are the best insurers for liability-only coverage in the city.

Cheapest full-coverage car insurance in Cape Coral: State Farm

Full-coverage car insurance includes liability, comprehensive, and collision coverages. It helps pay for vehicle repairs for you and the other driver when you cause an accident. The insurance policy also covers vehicle damage from a non-collision incident, like theft or severe weather.

Most insurance experts recommend purchasing a full-coverage policy, and you may need it if you have a vehicle loan or lease. You may not need it if you have an old or inexpensive car.

Cape Coral drivers can find the cheapest full-coverage policy with State Farm. The following insurers also offer competitive pricing for full-coverage insurance.

Car insurance requirements in Florida

Drivers in the state of Florida must meet the minimum legal requirement for personal injury protection (PIP) and property damage coverage.^[4] 

Florida is a no-fault state, which means that both drivers need to file claims with their auto insurance companies after an accident. This can make insurance more expensive for Florida drivers because insurers need to process additional claims each year.

Here’s how much auto insurance coverage you need as a driver in Florida:

You should consider purchasing additional coverage beyond Florida’s minimum requirements. Here are some common optional coverage add-ons:

• 

  Comprehensive coverage

  When a non-collision incident damages your vehicle, a comprehensive policy can help cover the repair or replacement costs. It includes coverage for theft, natural disasters, and more.

• 

  Collision coverage

  If you hit another car or object, a collision policy pays for your vehicle repairs.

• 

  Uninsured/underinsured motorist coverage

  If an uninsured driver causes an accident, you typically have to pay for repair costs or sue the driver. Uninsured/underinsured motorist coverage provides for your vehicle repairs.

Cheapest car insurance for drivers with an incident

Your driving record significantly affects your car insurance rates. Having incidents like at-fault accidents, speeding tickets, and driving under the influence violations on your record can cause your rates to increase. Car insurance companies use driving records to determine risk, and past incidents indicate that you’re a high-risk driver who might file a claim in the future.^[5] So, insurers increase rates.

Cape Coral drivers with a past incident on their record pay an average of $285 per month for car insurance. Here are the best options for drivers with an incident in Cape Coral.

Average cost of car insurance by age

Insurance companies consider your age when determining rates. Due to inexperience and reckless driving habits, teenagers pay the highest premiums for car insurance. Between the ages of 35 and 70, drivers typically see rates decrease with age. Drivers can expect to earn the lowest rates near retirement age, but costs tick up again for senior drivers older than 70.

Here are the average car insurance costs in Cape Coral by age.

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Cape Coral car insurance quotes by credit tier

Your credit history can also affect how much you pay for coverage in Florida. Insurers use credit-based insurance scores as another measure of risk, with lower scores indicating higher levels of risk.

You’ll likely pay higher rates if you have poor credit than if you have excellent or good credit.

Here are average full-coverage quotes for car insurance in Cape Coral for each credit tier.

Cape Coral car insurance FAQs