Homeowners Insurance in Cape Coral, Florida

As the largest city by population in Southwest Florida, Cape Coral is quickly becoming one of the premier destinations to live on Florida’s Gulf Coast. In addition to its pristine beaches and handfuls of parks, the city enjoys moderate temperatures year-round.

With all those perks burgeoning throughout the city, it’s no surprise the city’s population has grown by nearly 25% in the past 10 years. But with the exception of growth comes the cost of that growth. More homes increase the property values and the likelihood of homeowners insurance claims being filed.

Let’s take a look at everything you need to know about homeowners insurance in Cape Coral, including the best insurance companies and whether you’re protected for hurricanes and floods — the two most costly natural disasters in the country.

Cape Coral homeowners insurance will set the average person back about $3,915 per year for a $150,000 house, $7,099 for a $300,000 house and $10,183 for a $450,000 house. While that may sound like a lot of money, you may also want to know that Florida is regularly at the top of the list for the most expensive states for homeowners insurance.

With that in mind, and when you consider the average cost of larger cities in the state regularly tops the list of most expensive for homeowners insurance in the country, homeowners insurance in Cape Coral, Florida seems pretty reasonable. Let’s take a look at what you can expect to pay from the city’s top insurers.

While that looks like more than you bargained for, it’s not all it’s cracked up to be — especially when you consider much of the real estate in Cape Coral is fairly new. The reason why recent population growth matters so much is because the Sunshine State stiffened the state’s building codes back in 2001.

The premiums displayed in this article were obtained by the Florida Office of Insurance Regulation. They represent the most recent rate filings from the state’s largest insurers and can be utilized as an average of what Floridians can expect to pay for homeowners insurance each year. The example premiums are based on a policy for a Florida masonry home with a $500 non-hurricane deductible, a 2% hurricane deductible and no claims in the past three years.

Many homes in Cape Coral were built post-2001, so they’ve got important wind mitigation features already built in. Those features not only protect your home against windstorms, but they can also decrease your home insurance premiums drastically.

Let’s take a deeper dive into three of the most common categories of homes and the city’s top insurers so you can get a better idea of what you can expect to pay for a $150,000 house.

As the numbers above reflect, those homeowners living in post-2001 homes pay an average of $2,285 per year for Cape Coral homeowners insurance. And those who live in pre-2001 homes and have taken adequate steps to mitigate the risk of wind damage enjoy similar prices, averaging just $2,261 per year.

Considering those factors, many homeowners in Cape Coral will actually pay less than the state’s average of around $5,998 per year. However, the buck stops there.

The combination of high insurance rates and effects from devastating Hurricane Ian in 2022 have dampened Cape Coral’s hot housing market in 2024. Nevertheless, the region still has its fair share of larger, expensive properties.

To get a better perspective on the scope of average costs, we’ve broken down the average premiums for $300,000 and $450,000 houses in the city. Let’s take a look and compare those with your home.

The best home companies in Cape Coral, Florida will vary by person. Generally, State Farm and Tower Hill had the lowest rates, but UPCIC and Citizens are the largest home insurers in Florida. All companies have their perks.

Homeowners insurance from State Farm in Cape Coral, Florida is relatively inexpensive, coming in between $1,318 and $3,399 per year. 

In addition to covering the structure of your house, Cape Coral home insurance covers a lot more than you might imagine. From your personal property to medical bills and, well… let’s just take a deeper dive and explain exactly what coverage you can expect from a Clovered policy.

Your coverages come into play for a multitude of different unexpected perils, including things like dog bites, house fires, hurricanes, water damage and burglaries. Plus some structural things like electrical wiring, your home’s foundation, and even a leaking roof.

Cape Coral’s location directly on the Gulf Coast, separated by the Gulf of Mexico by Matlacha Pass Aquatic Preserve and a few barrier islands, the city is no stranger to flooding. Historically high tides caused by hurricanes are common and flooding from the city’s abundance of rainfall is also common for the majority of the city’s residents.

FEMA’s flood zone maps show that more than 85% of the properties in Cape Coral are located in some form of flood zone and are, therefore, at risk of sustaining flood damage at least once. When you consider how damaging and costly floodwaters can be, and that homeowners insurance doesn’t cover flooding, getting Cape Coral flood insurance is a necessity.

Most residents qualify for FEMA’s government-run National Flood Insurance Program, which was created to provide affordable flood insurance to individuals living in high-risk areas and unable to secure it from a private company.

However, thousands of homeowners may be affected by a recent FEMA decision to pull a 25% flood insurance discount from properties throughout Cape Coral and southwest Florida. The situation is still ongoing, and involves a miscommunication between FEMA and city officials in regards to compliance.

You can also seek flood insurance from private providers, which can be a useful alternative depending on your property and needs. All you need to do is fill out our online flood insurance quote form and one of our in-house licensed agents can pair you with a Cape Coral flood insurance policy that fits your budget.

Fortunately, coverage for hurricanes is included in the cost of your homeowners insurance premiums. There’s no such thing as hurricane insurance. Your Cape Coral home insurance takes care of that for you.

Getting a quote through our online quoting engine is by far the quickest and easiest way to get the best homeowners insurance in Cape Coral. All you need to do is answer a few questions about your house and we’ll do the rest. You can have a new home insurance policy in minutes!

But if you just want to talk to a real person, one of our many licensed agents is available to chat by phone Monday through Friday from 8:30 a.m. to 6 p.m. at 833-255-4117. Or you can drop us an email anytime at agent@clovered.com.