Best Car Insurance in Cape Coral, FL

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.

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.

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.

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.

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:

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

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.

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

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.

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.

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.

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.

Competitive for Minimum Coverage

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

• $10,000 in personal injury protection
• $10,000 in property damage liability

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.

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.

Good Premiums for Minimum Coverage

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

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.

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.