Which Company Has the Lowest Cost of Car Insurance in Cape Coral?

Cape Coral, Florida is a medium-sized city on Florida’s Gulf coast. The population is just under 200,000, which appears to be growing quickly. The average income is $54,000 and the median age of 46 reflects Florida’s reputation as a retirement haven. Cape Coral is a driver’s city, with an average of two cars per household and an average commute time of 26 minutes one-way. The city has an estimated 76,000 employees, which can be added to neighboring Ft Myers’ 30,000 workers for a total that exceeds 100k. Thus, the roadways in and around Cape Coral are quite busy.

Given the older population, drivers can generally feel safer on the roads. More mature drivers have been found to be more careful and overall safer citizens on the roads. Still, when drivers pass a certain age, their relative safety diminishes due to slowed response times and reduced overall awareness. Thus, drivers should carefully consider their auto insurance policy. This is especially true when other factors, such as auto theft, are considered.

Thankfully, the auto theft rate in the Cape Coral and Fort Myers area is quite low. In 2018, the national auto theft rank for the metro area was #244, representing a mere 1,122 stolen vehicles. Nevertheless, Southern Florida is known more for auto damage from weather events than from theft. This is where a comprehensive auto insurance policy can help drivers, even when their cars are parked in the driveway.

What Insurance Coverage is Needed for Drivers in Cape Coral

Florida, like almost every other state, requires that all drivers carry an automobile insurance policy before hitting the roads. This measure is designed to ensure that everyone can receive compensation if they are hit in an accident. For that reason, the Florida law only requires that drivers carry a liability policy.

Thus, when a driver is at-fault in an accident, their insurance will cover the other driver and their car. In fact, liability insurance policies are mandated to cover both property damage and bodily injury. While these claims are capped to only cover certain amounts, those caps are designed to help you deal with most situations.

While liability is the minimum required by law, it’s recommended that drivers consider increasing their coverage to the collision or comprehensive policy level. These policies cover the at-fault driver as well as covering other damage to the car from, say, falling limbs or theft. Lastly, when drivers have better coverage and are hit by another driver, they can make a claim on their insurance and immediately have their vehicle repaired. The two insurance companies then sort out compensation from the at-fault driver’s insurer, but your car will be fixed before that is done.

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Cape Coral by Insurer

It’s important to save money on automobile insurance. Proper coverage is a necessary cost for any driver and even liability-only policies add to one’s monthly budget. However, drivers should consider more than the cheapest premiums. Other important factors include the customer service rating and the ability to package auto coverage with other policies, such as homeowner’s insurance.

How are insurance rates determined and getting cheap insurance close by.

Low Cost Auto Insurance for Bad Credit in Cape Coral

Most drivers think of their driving record with regard to their automobile insurance premiums. However, most states allow insurers to raise rates for those with poor credit. In Florida, drivers with poor credit pay up to $2,400 more for insurance than those with excellent credit. They even pay more than $1,000 more than those with excellent credit but a DWI.

Learn how bad credit can affect your car insurance rates.

Difference Between Liability and Full Coverage

What is Liability-Only?

Liability-only coverage is the cheapest option for automobile insurance. This coverage level only covers vehicles that are not at fault in an accident. Thus, if you carry liability-only coverage and cause an accident, the other driver will be covered by your policy. Any damage done to your car must be covered out of pocket, if at all.

Another way to think of liability insurance is that it protects you from claims made by another driver. Without the protection of insurance, you might be sued if you were to collide with another vehicle.

What is Full Coverage?

Full Coverage is a commonly used term which covers more than just the damage you might cause in an accident, or the coverage you are liable for. If your policy covers your liability to another vehicle, the damage done to your vehicle (collision insurance), and any incidental damage done to your car by any non-auto elements (comprehensive coverage), then you have a policy that is indeed full coverage. If you have a new car, you may wish to cover it with such a policy, as you might want the peace of mind that any damage will be covered by insurance.

What You Need to Know About the Differences Between the Car Insurance Types

The main difference between liability and full coverage insurance is that full coverage will cost more than liability insurance and this is because it protects you against many more possible risks that liability doesn’t cover.

In addition, liability insurance only covers other people’s injury claims and damages to other vehicles where full coverage will cover other’s injuries and vehicle damages as well as your injuries and damage to your own vehicle.

Average Annual Car Insurance Rates in Florida by City

Additional cities in Florida you can check out.

Spring Hill

Lehigh Acres

Take Advantage of These Car Insurance Discounts

Save on Your Insurance Policy Rates With These Discounts in Cape Coral:

  • Shop around –

    As you can see from these few examples, the rates insurers charge for the very same driver demographics can vary incredibly. The television commercials by the insurers tell us we can save hundreds of dollars on automobile insurance. Actually, you could save a thousand or more dollars on your insurance each year.

  • Drive defensively –

    If you can stay out of accidents and don’t accrue moving violations, you can save a lot of money on your automobile insurance. People with too many accidents and moving violations have trouble getting insured at any rate.

  • Drive an older car –

    If you have a car that is too old and not worth enough to carry collision insurance, you can save quite a bit of money. This especially applies to younger drivers whose insurance costs are much higher. If they can drive an older vehicle that would just require liability insurance and maybe some inexpensive comprehensive insurance, they can save at least a thousand dollars or more on insurance.

  • Buy collision insurance with a high deductible rate –

    The higher deductible rate you can tolerate in the event of a collision and the need to repair your vehicle, the lower your collision insurance cost will be. Your collision insurance rate will be really high if your deductible is only around $500. If you can tolerate $1,500 or so, you can save quite a bit of money on this portion of your annual insurance rate.

  • Bundle your home and automobile insurance policies –

    If you can buy your automobile and home insurance from the same company, you will likely save money. Most insurers offer a substantial discount for having your home and auto policy with them.

Not sure which discounts you may qualify for, consult this guide to learn more.

Factors That Affect Your Car Insurance Premiums

Cape Coral drivers are likely to see their insurance rates change over time. There can be many factors, both positive and negative, that impact your regular premiums. One key thing that all drivers face is aging. As you mature as a person and as a driver, your insurance rates are likely to fall. Typically, older drivers are safer drivers. They are less likely to drink and drive, speed, or take unnecessary risks on the road.

Your rates are also dependent, in part, on the type of car you drive. Drivers who love high-powered sports cars will likely spend more for automobile insurance than those who drive less-exciting SUVs and sedans.

Rates are also tied to the deductible on the policy. If you carry collision or comprehensive (full) coverage and opt for a higher deductible, your premiums could be lower. That is, if a tree hits your car, you will pay more up front for the damage to offset the lower premiums you’ve been paying over time.

If you have a bad driving record and need cheap insurance, compare rates here.

Helpful Cape Coral, Florida Vehicle Resources:

Live Traffic and Accidents

DMV (Find Locations, Vehicle Registration, Titles and Insurance Info)


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