Cheapest and Best Car Insurance in Cape Coral, FL (June 2024)


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ByMark Fitzpatrick
Reviewed byMark Friedlander
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ByMark Fitzpatrick
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Reviewed byMark Friedlander
Edited bySarah Mattie
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Updated: May 23, 2024

Advertising & Editorial Disclosure

In Cape Coral, Florida, GEICO offers the cheapest minimum coverage car insurance. Travelers offers the best rates for full coverage, while Nationwide is most economical for families with teens. Mercury provides the best customer service and ranks as the best overall, offering optimal value between price and service. However, the ideal choice for you depends on your personal coverage needs and preferences.

MoneyGeek Logo IconBest & CheapestCar InsuranceCape Coral
2024

Cheapest and Best Car Insurance in Cape Coral

Why Trust MoneyGeek? We analyzed 127,836 quotes in Florida from nine companies, used six sources and conducted original research to rate the cheapest companies and develop a scoring system for Cape Coral insurance providers based on ZIP codes in the city only. Our scores are based on affordability, customer satisfaction, claims experience, coverages offered and financial stability.

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These rates reflect the cheapest car insurance quotes in Cape Coral, FL, as of June 2024.

127,836Quotes Analyzed
 
9Companies Compared

Cheapest Minimum Coverage Car Insurance in Cape Coral

MoneyGeek found that GEICO is the cheapest car insurance option in Cape Coral, offering the lowest rates for minimum coverage.

  • GEICO: $493 per year
  • Travelers: $564 per year

Farmers offers the most expensive minimum coverage policy in Cape Coral, with an annual premium of $1,536. This costs $1,043 more than GEICO, showing the significant financial benefit of comparing car insurance quotes to secure the best deal.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Minimum Coverage
GEICOAnnual Premium$493Monthly Premium$41
TravelersAnnual Premium$564Monthly Premium$47
MercuryAnnual Premium$618Monthly Premium$52
State FarmAnnual Premium$730Monthly Premium$61
AllstateAnnual Premium$856Monthly Premium$71
NationwideAnnual Premium$881Monthly Premium$73
ProgressiveAnnual Premium$1,054Monthly Premium$88
Direct General InsuranceAnnual Premium$1,372Monthly Premium$114

State Minimum Liability Requirements

Florida state law prescribes drivers to carry at least the minimum car insurance coverage with the following limits:

  • $10,000 for property damage liability per accident
  • $10,000 for personal injury protection (PIP) per person

With minimum coverage, your insurance pays up to $10,000 for the other party's property damage if you are at fault in an accident. Any expense above this limit will have to come out of your pocket. This law is widely recognized, and you should remember these stipulations.

Cheapest Full Coverage Car Insurance in Cape Coral

MoneyGeek found that Travelers is the best provider of the cheapest full coverage car insurance in Cape Coral. The top two providers are:

  • Travelers: $1,170 per year
  • GEICO: $1,281 per year

Farmers offers the most expensive full coverage policy in Cape Coral, with an annual premium of $2,886. This $1,716 difference between the cheapest and most expensive options highlights the importance of shopping around for the best rates. Full coverage policies include additional protections like collision and comprehensive insurance, which account for the higher cost.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
TravelersAnnual Premium$1,170Monthly Premium$98
GEICOAnnual Premium$1,281Monthly Premium$107
State FarmAnnual Premium$1,385Monthly Premium$115
MercuryAnnual Premium$1,607Monthly Premium$134
NationwideAnnual Premium$1,708Monthly Premium$142
AllstateAnnual Premium$1,729Monthly Premium$144
ProgressiveAnnual Premium$1,839Monthly Premium$153
Direct General InsuranceAnnual Premium$2,535Monthly Premium$211

Do You Need Full Coverage in Florida?

Full coverage auto insurance policies boost protection with higher liability limits of $100,000 for bodily injury per individual, $300,000 for bodily injury per accident and $100,000 for property damage liability. This enhanced policy is referred to as 100/300/100.

Full coverage car insurance also includes collision and comprehensive insurance:

  • Collision Insurance: This insurance pays for repairs to your vehicle caused by a crash, whether it involves another vehicle or a stationary object like a tree or light pole. It also covers rollover accidents and pothole damage.

  • Comprehensive Insurance: This covers repairs for non-accident-related harm to your vehicle, such as theft, vandalism, fires, damage from natural disasters or being hit by an animal.

Securing full coverage insurance for new vehicles is important for protecting your asset. For older vehicles, the higher costs may not justify the added financial protection. When deciding how much car insurance coverage you need, consider your needs: more comprehensive coverage means steeper premiums, whereas less coverage could leave you inadequately protected in an unforeseen event.

Cheapest Car Insurance in Cape Coral After a Driving Offense

MoneyGeek found that State Farm is the cheapest option in Cape Coral for drivers with a poor driving record seeking full coverage policies. Whether it's a speeding ticket, an at-fault accident, or a DUI offense, these infractions impact insurance rates differently.

  • Speeding Ticket: State Farm ($1,566 per year)
  • At-fault accident: Travelers ($1,702 per year)
  • DUI: State Farm ($1,566 per year)

Nationwide charges the most for drivers with infractions, with an average annual premium of $3,777. The provider is also the most expensive for speeding tickets and at-fault accidents, costing $3,649 and $4,374 per year, respectively. Driving infractions can increase premiums, but you can still find competitive rates in Cape Coral.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
Incident:
Incident:Speeding
State FarmAnnual Premium$1,566Monthly Premium$131
TravelersAnnual Premium$1,625Monthly Premium$135
AllstateAnnual Premium$1,793Monthly Premium$149
NationwideAnnual Premium$2,012Monthly Premium$168
MercuryAnnual Premium$2,344Monthly Premium$195
GEICOAnnual Premium$2,455Monthly Premium$205
ProgressiveAnnual Premium$2,533Monthly Premium$211
Direct General InsuranceAnnual Premium$2,535Monthly Premium$211

Insurance rates tend to escalate with the severity of a driving infraction; a driver's past behavior strongly predicts their future risk to insurers. In Cape Coral, drivers with a DUI pay an average annual premium of $3,245, while those with a speeding ticket will see rates around $2,900. This significant difference highlights the need for individuals with driving offenses to shop around and find the best insurance rates.

Cheapest Car Insurance in Cape Coral for Teens and Their Families

MoneyGeek found that Nationwide offers the most affordable full coverage car insurance for both female and male teen drivers in Cape Coral. These providers offer the cheapest car insurance for teens:

  • Nationwide: $2,948 per year for female teens and $3,320 per year for male teens
  • GEICO: $3,479 per year for female teens and $3,521 per year for male teens

These premiums are for a policy covering two parents and a teen driver. Progressive presents the most expensive policy for teen family insurance in Cape Coral, with an annual premium of $5,952 for female teens. The $3,004 difference between Nationwide and Progressive underscores the importance of comparing quotes, especially considering the higher insurance costs associated with insuring teen drivers.

Data filtered by:Results filtered by:
Age:
Age:16
Gender:
Gender:Female
NationwideFamily Plan Annual Premium$2,948Individual Plan Monthly Premium$5,114
GEICOFamily Plan Annual Premium$3,479Individual Plan Monthly Premium$3,726
State FarmFamily Plan Annual Premium$3,631Individual Plan Monthly Premium$3,524
TravelersFamily Plan Annual Premium$3,688Individual Plan Monthly Premium$6,268
AllstateFamily Plan Annual Premium$4,001Individual Plan Monthly Premium$14,501
FarmersFamily Plan Annual Premium$5,747Individual Plan Monthly Premium$12,864
ProgressiveFamily Plan Annual Premium$5,952Individual Plan Monthly Premium$8,134

In Cape Coral and similar cities, teens shopping for individual car insurance face a high annual premium of up to $8,465. Being added to a family plan only costs an average of $4,533. This $3,932 difference is due to insurers' assessment of teens as being at a higher risk of accidents. Many providers may also hesitate to grant an individual policy to teens without a significant cost due to their lack of driving experience. Getting a family policy is an economical choice with a greater likelihood of approval.

Cheapest Car Insurance in Cape Coral for Military Drivers

MoneyGeek found that Travelers offers the most affordable full coverage car insurance to individuals with military backgrounds in Cape Coral. These are the cheapest car insurance for military backgrounds:

  • Travelers: $1,170 per year
  • GEICO: $1,281 per year

Although USAA is not in this study, it serves Florida. It is recognized for offering services tailored specifically to active-duty military members at some of the most competitive rates nationwide.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
TravelersAnnual Premium$1,170Monthly Premium$98
GEICOAnnual Premium$1,281Monthly Premium$107
State FarmAnnual Premium$1,385Monthly Premium$115
MercuryAnnual Premium$1,607Monthly Premium$134
NationwideAnnual Premium$1,708Monthly Premium$142
AllstateAnnual Premium$1,729Monthly Premium$144
ProgressiveAnnual Premium$1,839Monthly Premium$153
Direct General InsuranceAnnual Premium$2,535Monthly Premium$211

How to Compare Cheap Cape Coral Car Insurance Quotes Online

In Cape Coral, comparing rates is the best strategy for saving on car insurance costs. However, assessing three or more companies can take up to an hour.

MoneyGeek's car insurance calculator helps streamline this process. You can input variables such as age, driving history, credit rating and desired coverage to promptly receive accurate rate estimates.

Car Insurance Calculator

MoneyGeeks's car insurance calculator will give you a customized estimate of your auto insurance cost. It's free to use, requires no personal information and we won't send you any spam.

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Rates updated:

Jun 13, 2024

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Best Car Insurance in Cape Coral: Overview

Finding the best auto insurance for you requires weighing various factors such as service quality, cost, coverage and other personal variables. MoneyGeek's comprehensive analysis reveals the top providers in Cape Coral for different preferences:

  • Best overall: Mercury (MoneyGeek score 85 out of 100)
  • Best for service: Mercury (MoneyGeek score 83 out of 100)
  • Best for affordability: Mercury (MoneyGeek score 87 out of 100)

Mercury is the premier choice in Cape Coral for overall value, exceptional service and affordability. It caters to a broad range of consumer needs without compromising on quality and reliability.

Overall Best Car Insurance in Cape Coral

MoneyGeek found that Mercury is the best option in Cape Coral for drivers looking for the best car insurance. These are the top two providers:

  • Mercury: MoneyGeek score of 85 out of 100 ($1,607 per year)
  • State Farm: MoneyGeek score of 82 out of 100 ($1,385 per year)

Mercury stands out in Cape Coral with its exceptional overall MoneyGeek score, which indicates customer satisfaction and the value of its coverage.

Company logo for Mercury
Best OverallMercury
MoneyGeek Score:
85/ of 100

Overview

Mercury's top MoneyGeek score is due to its impeccable claims handling and customer satisfaction. Mercury ensures essential protections for drivers with common coverages such as rental car and/or travel reimbursement and roadside assistance. It offers mechanical breakdown insurance, a rare but widely applicable coverage that insures against costly repairs beyond the standard warranty period. Although Mercury lacks gap insurance, its solid scores in satisfaction and affordability make it a top choice for drivers.

Best Car Insurance in Cape Coral for Customer Service

MoneyGeek found that Mercury is the best car insurance option in Cape Coral for customer service, regardless of cost.

  • Mercury: MoneyGeek score of 83 out of 100 ($1,607 per year)
  • State Farm: MoneyGeek score of 75 out of 100 ($1,385 per year)

Mercury distinguishes itself through its commendable satisfaction and claims scores. These factors significantly contribute to its leading MoneyGeek score, emphasizing customer satisfaction, effective claims handling and robust coverage options.

Company logo for Mercury
Best for Customer ServiceMercury
MoneyGeek Score:
83/ of 100

Overview

Mercury earns its impressive MoneyGeek Score primarily from top-tier satisfaction and claims handling, assuring customers of a stellar experience. Mercury offers common coverages like rental car and/or travel reimbursement and roadside assistance.

Its roadside assistance ensures 24/7 support for vehicle breakdowns. Its rental car and/or travel reimbursement is an indispensable safety net for maintaining mobility while your car is being repaired. Mercury also offers mechanical breakdown insurance, which covers repair costs beyond the standard manufacturer's warranty. Although it lacks some popular coverages, its high scores still make it a great option.

Best Cheap Car Insurance in Cape Coral

MoneyGeek found that Mercury is the best option for affordable car insurance in Cape Coral, balancing affordability with reliable claims handling and customer satisfaction.

  • Mercury: MoneyGeek score of 87 out of 100 ($619 per year)
  • Travelers: MoneyGeek score of 82 out of 100 ($564 per year)

These scores are for a minimum coverage policy. Mercury stands out in Cape Coral for its balance of affordability and quality service. The company's MoneyGeek score highlights its commitment to customer satisfaction and claims processing, which contribute significantly to its top position.

Company logo for Mercury
Best Cheap CompanyMercury
MoneyGeek Score:
87/ of 100

Overview

Mercury stands out for claims handling and customer satisfaction, which are essential pillars of its stellar MoneyGeek score. Mercury ensures that the average driver enjoys minimum coverage at an average annual premium of $618. Mercury's commitment to value is apparent through its discount offerings, such as automatic payment and anti-theft system.

Mercury boasts an impressive array of discounts, signaling its broad approach to cost savings. It offers all the most common discounts: bundling, multiple car and safe driving. Beyond these popular options, Mercury provides useful discounts for senior drivers and for drivers who pay in full. These features are especially beneficial for individuals looking to manage their expenses effectively by leveraging lump-sum payments or for seniors seeking age-specific benefits.

Average Cost of Car Insurance in Cape Coral

In Cape Coral, Florida, drivers typically see an average car insurance premium of $1,803. This figure is notably less than Florida's average annual cost of $2,307. Florida's average car insurance cost is higher than the national average of $1,720, indicating a difference of $587.

Various factors influence the cost of car insurance, with location being among the most significant. The area where you live affects insurance rates due to local factors like traffic density, rates of vehicular theft and accident statistics. In Florida, the city of Hialeah has the most expensive premium at $3,126, while Gainesville is at the opposite end of the spectrum with the cheapest premium of $1,642. Variations as high as $1,484 underscore the impact of location. You may even find more favorable rates in less populated non-city areas due to lower traffic density and associated risks.

BrandonAnnual Premium$2,561
Cape CoralAnnual Premium$1,803
ClearwaterAnnual Premium$2,200
Coral SpringsAnnual Premium$2,529
DavieAnnual Premium$2,464
Fort LauderdaleAnnual Premium$2,503
GainesvilleAnnual Premium$1,642
HialeahAnnual Premium$3,126
HollywoodAnnual Premium$2,599
JacksonvilleAnnual Premium$2,052
LakelandAnnual Premium$1,944
Lehigh AcresAnnual Premium$1,910
MiamiAnnual Premium$2,930
Miami GardensAnnual Premium$2,847
MiramarAnnual Premium$2,457
OrlandoAnnual Premium$2,073
Palm BayAnnual Premium$1,834
Pembroke PinesAnnual Premium$2,410
Pompano BeachAnnual Premium$2,588
Port St. LucieAnnual Premium$1,941
Spring HillAnnual Premium$2,081
St. PetersburgAnnual Premium$2,302
TallahasseeAnnual Premium$1,729
TampaAnnual Premium$2,759
West Palm BeachAnnual Premium$2,726

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.