Best cheap car insurance in Cape Coral for 2021

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Drivers in Cape Coral, Florida are some of the safest, based on an insurance study by Allstate. The carrier looked at crash reports and claims filed to list the 200 largest cities with the safest drivers. Cape Coral ranked as #10 for safest drivers. Although Cape Coral vehicle owners file fewer claims, car insurance rates in Florida are the second-highest in the country. The average cost of car insurance in Cape Coral is $951 per year for minimum insurance and $2,014 per year for full coverage.

The good news is, annual rates are less than the $2,364 per year Floridians pay for full coverage on average. Plus, there are other ways to lower car insurance Cape Coral premiums. We compared car insurance rates, customer ratings and policy options from the best car insurance companies in Cape Coral to narrow down the field.

Best car insurance companies in Cape Coral

To get the best car insurance in Cape Coral, start with the right company. Most of the major car insurance carriers operate in the state. To find a provider, doing some research on what the top contenders have to offer and whether it works for you can help. We took some of the guesswork out of it by looking at many different carriers and comparing their average annual rates, customer satisfaction scores, available coverages and available discounts to narrow things down to the top four providers in Cape Coral.

Insurance company J.D. Power score Average annual premium for minimum coverage Average annual premium for full coverage
Geico 846 / 1000 $686 $1,742
State Farm 826 / 1000 $815 $1,589
Allstate 851 / 1000 $982 $2,026
Direct General NR $1,195 $2,380

Geico

Geico is the cheapest car insurance company in Cape Coral of the companies we reviewed. Basic coverage rates for minimum coverage are $686 per year, well below the city average of $951. Geico does not provide a long list of optional coverages but you can rest assured that you will be insured for an affordable rate from a company with one of the highest customer satisfaction ratings. Policyholders that responded to J.D. Power’s customer satisfaction study scored Geico with an 846 out of 1,000, the second highest score on our “best of” list.

State Farm

If you are planning on leasing or financing your vehicle, you will likely need to buy full car insurance coverage that includes comprehensive and collision. State Farm has the lowest average annual rate for full coverage of all the carriers Bankrate collected quotes from.

In addition to full car insurance, you can add rideshare insurance to cover you while you are making deliveries or driving others through Uber or Lyft, buy gap coverage to cover the difference between what you owe and what your car is worth if totaled and rental reimbursement to pay for a temporary car while yours is in the shop.

Allstate

Allstate Insurance has the highest customer rating of the companies we chose at 851 out of 1,000. Allstate has a variety of optional coverages including sound system insurance, which pays to replace stolen or damaged audio visual car components. You can also insure a classic or collectible vehicle, which is often difficult because many insurance providers do not offer classic car insurance.

Filing a claim is simple. You can file and track claims online, use the Allstate mobile app or call or visit a local Allstate agent.

Direct General

Direct General insurance may be the best solution for high-risk drivers who have trouble finding coverage elsewhere. High-risk drivers are classified as individuals with poor credit, multiple speeding tickets or moving violations, a history of at-fault accidents, teen or young drivers with points on their driving record or drivers with one or more DUI convictions. The company specializes in basic insurance and does not provide many add-ons, but it typically insures drivers who may not find coverage elsewhere at an affordable price.

Cheapest car insurance in Cape Coral

Below is a list of the cheapest car insurance in Cape Coral based on annual average rates. Full car insurance is more expensive than minimum coverage because it adds comprehensive and collision insurance to a basic insurance policy. You will need the two additional coverages to pay for losses or damages to your vehicle in case you are at fault in an accident.

Insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Geico $686 $1,742
State Farm $815 $1,589
Allstate $982 $2,026
MetLife $1,122 $2,326
Progressive $1,236 $2,366

If you are in search of full coverage, the cheapest carriers are State Farm and Geico. Both companies are highly-rated by customers and have a strong financial standing. MetLife may be a good option for full coverage as well. The carrier’s CARE network of repair facilities and mechanics guarantee the parts and workmanship for as long as you own the vehicle. State Farm edges out Geico when it comes to local offices — there are four State Farm agents in Cape Coral, Florida. Allstate also has local offices – there are ten agents in the city. Progressive may be the best choice for tech-oriented drivers who would appreciate the carrier’s online and mobile platform and prefer to handle their insurance needs digitally.

Cape Coral insurance requirements

All Florida drivers must have continuous car insurance or they may get their license and registration suspended. The required insurance minimums are:

  • $10,000 or more in personal injury protection (PIP)
  • $10,000 or more in property damage liability coverage

Florida’s minimums are extremely low. If you do not purchase more, you could be legally responsible for expenses above the $10,000 your carrier will pay. In addition, any damages to your car will not be covered by your carrier. Insurance experts recommend buying as much coverage as you can afford to protect yourself and your assets in the case of an accident.

Car insurance discounts in Cape Coral

Cape Coral residents can save on car insurance by taking advantage of some of the most common vehicle insurance discounts.

  • Multiple vehicle: The average Cape Coral household has two vehicles. Insuring them together could save you on both premiums.
  • Bundling: If you own your home or have renters insurance, adding car insurance to your policy could save you money on both coverages.
  • Defensive driver course: Older drivers could refresh their driving skills and earn a discount if they complete an approved defensive driver course.
  • Low mileage: Drivers who do not use their car for a daily commute could receive a reduction in car insurance premiums.

Frequently asked questions

What is the best car insurance company in Cape Coral?

We found that the cheapest and best car insurance companies in Cape Coral, Florida, are Geico, Allstate, State Farm and Direct General.

How much does car insurance in Cape Coral cost?

Bankrate’s findings for the average cost of car insurance in Cape Coral is $951 per year for minimum car insurance and $2,014 per year for full coverage.

How much car insurance do I need in Cape Coral?

Florida’s car insurance requirements for all drivers is a minimum of $10,000 in personal injury protection (PIP) and $10,000 or more in property damage insurance. However, the state’s limits may be enough to legally drive but may not be enough coverage in case of an accident.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should be used for comparative purposes only. Your quotes may be different.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a finance, real estate and international business journalist. Besides Bankrate.com, her work has been featured in Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and SimpleDollar.com. She owns and operates a small digital marketing and public relations firm that works with select startups and women-owned businesses to provide growth and visibility. Cynthia splits her time between Los Angeles, CA and San Sebastian, Spain. She travels to Africa and the Middle East regularly to consult with women’s NGOs about small business development.