5 Best Cape Coral Homeowners Insurance Companies (2025)
State Farm, Chubb, and Allstate offer some of the best homeowners insurance policies in Cape Coral.
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Sitting in southwest Florida, Cape Coral is home to beautiful beaches, manatees, and more than 400 miles of canals. But its tropical location also leads to high home insurance rates. The average cost of home insurance in Cape Coral is $7,716 per year for a policy with $300,000 in dwelling coverage. This is much higher than the national average of $2,532 per year.
In Cape Coral, the effect of recent hurricanes has led to increasing home insurance costs and a slowing real estate market.[?] In addition to a standard homeowners policy, Cape Coral homeowners might also want to consider flood and windstorm insurance to ensure their home has the proper protection.
While these policies may increase the overall monthly cost of coverage, they could be vital protection against a hurricane or tropical storm.
Here’s what you need to know about finding home insurance in Cape Coral that meets your needs and budget.
Quick Facts
Homeowners can find flood insurance through a private insurer or the National Flood Insurance Program (NFIP).
Cape Coral is located in a high-risk hurricane zone, with more than 80 hurricanes recorded in the city.
Cape Coral homeowners who can’t get private insurance can get coverage through the Fair Access to Insurance Requirements (FAIR) Plan.
Best home insurance companies in Cape Coral
Several insurers have left the Florida market, but many quality home insurers still operate in Cape Coral. The best home insurance company for you will depend on your needs and budget. To help you narrow down your search, here are five of the best insurers for Cape Coral homeowners.
State Farm: Best for investment property coverage
Chubb: Best for high-value homes
Allstate: Best for wind-mitigation discounts
Nationwide: Best for flood insurance
Citizens Property Insurance Corporation: Best for people who don’t qualify for other coverage
Citizens Property Insurance Corporation is a not-for-profit, state-run insurer that provides coverage to Floridians who can’t get coverage from a private company. Founded in 1992, after Hurricane Andrew, Citizens was created as a last-resort insurance company.
Today, the company has grown to become one of the largest insurers in Florida. The Citizens depopulation program helps return Citizens policies to the private market. If a private insurer offers you premiums that are within 20% of Citizens’ renewal price, you can’t stay with Citizens.
Pros
Provides coverage to people who can’t get it from a private company
24/7 claims reporting online or by phone
Offers a wind-mitigation discount
Cons
Higher insurance premiums than other insurers
Quotes not available online
More limited coverage options
Our editorial team analyzed regional and national home insurance companies that sell policies in Cape Coral to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.
How much is home insurance in Cape Coral?
The average cost of home insurance in Cape Coral is $7,716 per year, or $643 per month, for a $300,000 policy with a $1,000 deductible. In comparison, Florida’s average rate is $5,640 per year for the same coverage.
Location plays a big role in Cape Coral’s home insurance rates because of the city’s vulnerability to major storms. The cost of your home insurance can also vary based on the type and amount of insurance you have, your deductible, your claims history, and the insurer you choose.[?]
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Cheapest home insurance companies in Cape Coral
Although home insurance can be expensive in Cape Coral, you still have affordable options. If you want to find the best rate on homeowners insurance, check out the following table for the cheapest home insurance companies in Cape Coral.
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company  | Average Annual Premium |
|---|---|
| State Farm | $3,576 |
| Nationwide | $4,500 |
| Allstate | $7,092 |
| Chubb | $7,116 |
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company | Average Annual Premium |
|---|---|
| State Farm | $6,420 |
| Nationwide | $9,900 |
| Allstate | $16,488 |
| Chubb | $16,956 |
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company | Average Annual Premium |
|---|---|
| State Farm | $8,652 |
| Nationwide | $14,100 |
| Chubb | $23,784 |
| Allstate | $24,408 |
The state of home insurance in Florida
Several recent hurricanes in Florida have led to heavy losses for insurance companies. Many insurers have withdrawn from the state or are limiting new business in Florida. This is leading to an increase in the cost of home insurance and is affecting the real estate market.
Thousands of homes in areas like Cape Coral and Fort Myers are for sale and have been sitting on the market for months. The risk of a hurricane and the cost of insuring a home in the area are causing potential homebuyers to stay away.
In 2024, Floridians filed nearly 458,000 hurricane claims. And since 2020, weather disasters have cost Florida an estimated $237 billion, according to the National Centers for Environmental Information. Today, Florida is the most expensive state for homeowners insurance, and Insurify projects the average annual cost of insurance in Florida will rise to $15,460 by the end of 2025.
How much homeowners insurance do you need in Cape Coral?
To ensure your home has the proper protection, you’ll want high enough coverage limits to account for the cost of rebuilding your home and replacing the contents after a disaster. It’s also important to consider if you want replacement cost coverage, which doesn’t factor in depreciation, or actual cash value coverage, which does.
A standard homeowners policy provides four main types of coverage:[?]
Dwelling: Dwelling coverage helps pay for the cost of rebuilding or replacing your home if a covered peril, like a hurricane or fire, damages or destroys it. Dwelling insurance doesn’t typically cover damage from floods. If you live in a high-risk flood area, you may need to purchase additional coverage.
Personal property: Personal property coverage protects personal items in your home, such as your clothing, furniture, and sporting equipment. You can determine how much coverage you need by creating a home inventory checklist that includes the names of your items, their costs, and proof of their value, such as receipts.
Liability: Liability insurance provides financial protection if someone is hurt on your property. Liability limits generally start at $100,000, but you can increase this amount if you want additional protection.
Additional living expenses: If you can’t live in your home due to a covered event, additional living expenses coverage can help pay the costs of hotel stays, restaurants, and other expenses.
What to know about home insurance in Cape Coral, FL
As a homeowner in Cape Coral, you have several natural disaster risks to think about, including:
Home insurance coverage for hurricanes and flooding
Storm damage is a common occurrence in Florida, but your policy may not cover everything. A standard homeowner policy typically covers some damages from hurricanes, but you might need additional insurance to ensure you have adequate protection.
Storm surge is one of the greatest threats from a hurricane, often resulting in flooding. Since a standard homeowners policy doesn’t cover flood damage, you may need to purchase a separate policy from a private insurer or the NFIP.[?]
While some standard homeowners policies cover wind damage, it depends on where you live and if your policy excludes wind damage or requires a separate hurricane deductible.
In Florida, the hurricane deductible is triggered when a hurricane watch or warning is issued in any part of Florida and remains in effect until 72 hours after the watch ends. You only have to pay your hurricane deductible once per season. The cost of the hurricane deductible is typically 2%, 5%, or 10% of your dwelling coverage limit.[?]
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How to get home insurance in Cape Coral
When you’re ready to purchase home insurance in Cape Coral, follow these steps:
Assess your coverage needs. Consider the type of coverage and how much you need to properly protect your home and its contents. Also, decide if you need additional coverage, such as flood or windstorm insurance.
Gather details about your home. When applying for home insurance, most insurers will ask for details about your house, including when it was built, the square footage, the type and age of your roof, if you have pets, and how many people live there.
Compare quotes from multiple companies. To compare insurance companies, you can use an online comparison platform, speak to an insurance agent, or reach out directly to different insurers for quotes.
Consider the FAIR Plan. If you’re struggling to get private home insurance, you may need to consider getting coverage through the FAIR Plan. This is a state-run insurance plan that’s available to homeowners living in areas with higher risks that private companies don’t want to insure.[?]
Purchase a policy. Once you find the insurance company that’s right for you, read the details of your policy and pay your premiums.
Average cost of home insurance in other cities in Florida
Your location has a big effect on your insurance rates. Home insurance rates in Florida can vary between cities and even different ZIP codes within a city. Factors such as extreme weather, proximity to a fire station, and crime rates can influence the cost of home insurance premiums.
Since Cape Coral is a coastal area and is exposed to hurricanes and storms, homeowners are likely to pay higher premiums than people living in non-coastal cities. Here’s how average premiums vary across several cities in the Sunshine State.
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
City | Average Annual Premium: With $300,000 in Dwelling Coverage |
|---|---|
| Tallahassee | $3,156 |
| Gainesville | $3,180 |
| Ocala | $3,516 |
| Jacksonville | $3,600 |
| Deltona | $4,596 |
| Orlando | $4,608 |
| Lakeland | $4,716 |
| Tampa | $5,460 |
| Crestview | $5,556 |
| Palm Bay | $6,276 |
| North Port | $6,492 |
| Pensacola | $6,636 |
| Cape Coral | $7,716 |
| Naples | $9,228 |
| Port Saint Lucie | $11,880 |
| Miami | $13,740 |
| Key West | $20,172 |
Cape Coral homeowners insurance FAQs
If you still have questions about homeowners insurance in Cape Coral, check out the additional information below.
The average cost of a home insurance policy in Cape Coral with $300,000 in dwelling coverage is $7,716 annually, or $643 monthly. You might also need to purchase flood insurance, which will add to the overall cost.
State Farm has the cheapest homeowner insurance in Cape Coral, with an average premium of $385 per month for a policy with $300,000 in dwelling coverage and a $1,000 deductible.
While the best home insurance depends on your unique situation, State Farm, Chubb, Allstate, and Nationwide are some of the best private insurers in Cape Coral. Citizens is a government-run insurer to consider if you can’t get private insurance.
Homeowners insurance is expensive in South Florida for several reasons. A combination of severe weather events, insurance fraud, and a reduced number of insurers in the area has driven up the cost of insurance for Florida homeowners.
While standard homeowners insurance provides some coverage for hurricane damage, you may need to purchase additional insurance to ensure your home is properly protected. Hurricane insurance typically combines flood and windstorm insurance.
Flood insurance is required for some homeowners in Cape Coral. But even property owners who aren’t in Special Flood Hazard Areas should consider flood insurance, as Cape Coral is at a high risk for hurricanes, storms, and flooding.
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