Cape Coral Homeowners Insurance

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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.

Average Cost of Homeowners Insurance in Cape Coral, Florida

Cape Coral homeowners insurance will set the average person back about $3,095 per year for a $150,000 house, $5,354 for a $300,000 house and $7,117 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.

Average Cost of Homeowners Insurance in Cape Coral for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

$150,000 House

$2,673
$1,885
$3,700
$3,217
$2,372
$3,694
$2,834
$3,952
$3,095

$300,000 House

$4,690
$3,310
$6,493
$5,647
$4,165
$6,483
$4,975
$6,935
$5,354

$450,000 House

$6,500
$4,560
$8,984
$7,797
$5,721
$8,971
$6,857
$9,609
$7,117

Florida Office of Insurance Regulation Premium Consideration Factors

The premiums displayed in this article were obtained by the Florida Office of Insurance Regulation. They represent the 2022 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.

Pre-2001 Construction w/ Wind Mitigation

This risk is for a Florida masonry home with a current replacement value of $150,000, a $500 non-hurricane deductible, a 2% hurricane deductible, and no claims in the past three years. Premium examples are shown for maximum wind mitigation features.

Pre-2001 Construction w/ No Wind Mitigation

This risk is for a Florida masonry home with a current replacement value of $150,000, a $500 non-hurricane deductible, a 2% hurricane deductible, and no claims in the past three years. Premium examples are shown for no wind mitigation features.

2001-Present Construction

This risk is for a Florida masonry home with a current replacement value of $300,000, a $500 non-hurricane deductible, a 2% hurricane deductible, no claims in the past three years, and minimum premium discounts for limited wind mitigation features and no hip roof.

*Wind Mitigation

A wind mitigation is any protection on your home that helps decrease the damage caused by strong winds like a hurricane. This can include certain roof attachments and coverings, extra water-resistant seals and impact-resistant doors and windows. Wind mitigations typically result in deep discounts on your home insurance premiums, so you’ll want to get one.

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.

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.

$150,000 House in Cape Coral for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

Pre-2001 No Wind

$3,968
$2,827
$6,303
$4,351
$3,117
$6,119
$3,815
$6,596
$4,738

Pre-2001 w/ Wind

$2,154
$1,227
$2,031
$2,734
$1,819
$2,202
$2,304
$2,423
$2,261

2001-Present

$1,896
$1,602
$2,765
$2,566
$2,180
$2,762
$2,383
$2,838
$2,285

It’s Time to Switch Your Homeowners Insurance

We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.

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 $2,533 per year. However, the buck stops there.

Since Cape Coral’s population is booming, real estate demand is getting greater by the day. More homes are being built and the property values are skyrocketing. So you may have quite a bit of trouble finding a house for $150,000 in the Cape Coral city limits.

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.

$300,000 House in Cape Coral for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

Pre-2001 No Wind

$6,944
$4,947
$11,030
$7,614
$5,455
$10,708
$6,676
$11,543
$8,189

Pre-2001 w/ Wind

$3,770
$2,147
$3,554
$4,785
$3,183
$3,854
$4,032
$4,240
$3,914

2001-Present

$3,356
$2,836
$4,893
$4,542
$3,858
$4,888
$4,218
$5,023
$3,960

$450,000 House in Cape Coral for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

Pre-2001 No Wind

$9,920
$7,068
$15,758
$10,878
$7,793
$15,298
$9,538
$16,490
$11,142

Pre-2001 w/ Wind

$5,385
$3,068
$5,078
$6,835
$4,548
$5,505
$5,760
$6,058
$5,502

2001-Present

$4,195
$3,545
$6,116
$5,678
$4,823
$6,110
$5,273
$6,279
$4,814

Best Home Insurance Companies in Cape Coral, Florida

The best home companies in Cape Coral, Florida for average premium prices are Citizens, Florida Penn, Liberty Mutual, FedNat, ASI and Universal Property & Casualty Insurance Company. All of those companies boast average costs of less than the state’s average at some point.

But digging a bit deeper on homes that have proper wind mitigation features, Citizens still tops the list, but Florida Penn and UPCIC get far more valuable. One company you’ll notably see left off both those lists is State Farm.

State Farm in Cape Coral, Florida

Homeowners insurance from State Farm in Cape Coral, Florida is relatively expensive, topping the charts as one of the most costly at $2,670 per year. However, the company, like many others, has been pulling out of the Florida homeowners insurance market more and more through the years due to increased risk and exponential claims values.

It’s Time to Switch Your Homeowners Insurance

We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.

What Does Home Insurance in Cape Coral, Florida Cover?

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.

Dwelling Coverage

Covers your home’s structure and the things that help create it, including the fireplace, windows, doors and flooring.

Other Structures Coverage

Covers structures on your property not attached to your house, such as a fence, detached garage, carport or shed.

Personal Property Coverage

Covers the personal belongings you keep inside or on your property, such as a TV, electronics, lawnmower and clothes.

Loss of Use Coverage

Reimburses you for additional living expenses if you’re forced to move from your home while it’s being rebuilt or repaired.

Medical Payments Coverage

Utilized to pay for small medical bills if someone was injured on your property, whether you’re at fault or not.

What You Need to Know About Cape Coral Flood Insurance

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.

But many people can be insured by a private company, which oftentimes leads to better coverage. 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.

How Much Is Hurricane Insurance in Cape Coral?

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.

How to Get the Best Homeowners Insurance in Cape Coral, Florida

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.

Homeowners
It's Time to Switch Your Homeowners Insurance

We partner with the nation's top homeowners insurance companies so you can get a custom policy at an affordable price.

The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.

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