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How much is car insurance in Cape Coral?
|Area||Average Monthly Car Insurance Premium|
As you can see in the chart above, it is around $19 a month cheaper to insure your vehicle in Cape Coral than it is in the rest of Florida.
Drivers relocating the Cape Coral should take note of the differences in average rates. You can expect to pay about $24 more for your policy in Cape Coral.
Although these are the average rates for auto insurance in Cape Coral, it's important to remember that you could end up paying something different. There are a number of factors that determine how much insurance companies might charge you to insure your vehicle. Your policy's monthly price is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.
We've analyzed the average rate for Cape Coral and broken down the different factors to help you understand what your policy's monthly premium will be. To find out if you're overpaying for your area, just enter your ZIP below and find out in minutes!
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Cape Coral Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
The older you are, the more experience you're likely to have behind the wheel, right? That experience can lead to some serious savings when it comes to auto insurance bills. According to the table above, you can see that 18-24-year-olds pay significantly more than drivers 65 and older.
For every 10 years, you can expect to see a drop in your monthly premium. Having said that, once you approach retirement your rates may climb back up in Cape Coral.
Cape Coral Car Insurance Rates by Gender
While women typically pay less than men do for auto insurance, Cape Coral defies this trend. Female drivers typically pay around $14 more a month for insurance coverage than their male counterparts.
Cape Coral Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Rates can change drastically depending on your driving record. A clean driving record will get you a lower rate than one with even just a single accident or infraction. In Cape Coral, a driving record with a single accident will usually get you a rate around $127 a month. On a similar note, drivers with one ticket on their record will be looking at a monthly rate of about $115 on average.
Accidents, tickets, and other driving infractions can really cost you when it comes to your monthly rate. Remember, cheap car insurance rates are dependent on driving safely and keeping your record clean.
Cape Coral Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$93|
|15 Years or Older||$98|
The cheapest vehicles to insure in Cape Coral are by and large trucks and vans, with each type typically costing about $93 per month.
SUV drivers will see rates of about $109, while the rates for car owners average out to about $105 per month.
In addition to vehicle type, you can also expect to see slightly different rates depending on how old your vehicle is. Generally, newer vehicles are going to cost the most to insure. Once your car is a few years old, however, your monthly bill may start to dip back down. In Cape Coral, the most expensive vehicles to insure are vehicles eight-to-ten years old.
Cape Coral Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$107|
Overall, those who have settled down into marriage will pay slightly less for car insurance coverage. This occurs because insurance companies commonly offer special discounts to policyholders with multiple vehicles that are on the same policy.
The cost of auto insurance in Cape Coral reflects the national trend of married couples paying less than single drivers to insure their vehicles, to the tune of about $5 a month.
Cape Coral Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$111|
Another factor that comes into play is your living accommodations. In Cape Coral, homeowners can expect to pay around $20 a month less than those who rent. But if you live with your parents, your rates will be significantly higher.
Depending on your insurance company, they may offer you a discount if you bundle your home or renters insurance with your auto policy.
Car Insurance Companies in Cape Coral, FL
Recent trends in car insurance for Cape Coral drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area when deciding when and where to shop.
Car insurance rates in Cape Coral decreased from 2017-2019, before increasing from 2020-2021. They finished down in 2022 at $94.
How does Cape Coral compare to neighboring areas?
Why are car insurance rates in Cape Coral different from other areas?
Car insurance companies will take into account a lot of factors when figuring out how much to charge for a policy. While we already talked about the ones that affect your personal policy, others are based around where you live and drive. These include things like:
- Off-street parking availability
- Total number of drivers in the region
- Crime rates
- Road Safety (frequency of car accidents)
You can't change these factors yourself, but they're something to take into consideration when shopping for a new policy or looking to move into an area. Different towns and cities will all have different average rates, so guides like these are a great place to get started.
How can I find the cheapest car insurance in Cape Coral?
Equipping yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
Don't worry, Compare.com does all of that work for you. Simply enter your ZIP Code below, answer a few questions related to the factors we outlined above, and you'll be comparing the cheapest quotes from numerous car insurance companies providing policies in Cape Coral.
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Cape Coral Auto Insurance FAQs
What factors affect car insurance quotes in Cape Coral?
Car insurance companies calculate quotes based on a wide array of factors. These include things like your age and gender, but also factors like your vehicle's year, make and model, as well as your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Cape Coral different from other neighboring cities?
Things like crime rates, parking situations, and local laws, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in Cape Coral?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Cape Coral?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
Not at all, in fact you can switch companies at any point, regardless of how much time is left on your current policy. If you're thinking about moving to Cape Coral or haven't checked out the latest rates in your area for some time, it might be worth your while to take 10 minutes and see if Compare.com can save you any cash.
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