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32403 Home Insurance Quotes, Rates & Coverage

Are you looking for the right homeowners insurance policy at an affordable price for your home in 32403? There are over 17 occupied homes in the 32403 area. With a population size of 141, it's not uncommon for residence of Panama City, FL to want to find cheaper home insurance rates online. The average premium for a standard HO-3 home insurance policy for homeowners living in Florida is around $1,630 per year. At GetHomeInsuranceQuotes.com, we help you easily compare up to 12 home insurance rates from the top rated insurance companies. We also help you save money by applying all the home insurance credits and discounts available helping you save up to 40% or more on your next homeowners policy. Enter your 32403 zip code today to compare multiple rates and coverage options for your existing policy or a new home purchase.

For additional information about average home insurance rates, premiums or home insurance types, please review your city information: Panama City, FL Home Insurance Rate Quotes

32403 Home Insurance Average Premiums

Local 32403 homeowners insurance quotes comparison

$1380 /yr.

Shows Zip Code: 32403 lowest rates with discounts applied on average.

For the 32403, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)
$1380 /yr.
Average Coverage:$1630 /yr.
2600 sq. ft. or higher
(all discounts applied)
$1930 /yr.

What is the average home insurance cost for a home in 32403?

  • • The average homeowners insurance premium paid annually for a home in 32403 is around $1630 per year.

What does it cost on average per month for home insurance in 32403?

  • • Homeowners in 32403 pay a monthly average cost per month around $136.00.

What kind of discount could I get if I combine my home and auto insurance together in 32403?

  • • Autoowners in 32403 can receive a 20% to 25% discount if they own a home and would like to group or bundle their car and home insurance together with one insurance company.

For shopping home insurance rates within the Panama City area, check out other zip codes nearby 32403.
Review average rates in another zip code:
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32408 homeowners insurance rates
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Home Replacement Cost Coverage in 32403

Average Building Cost Per Square Foot in 32403: $167

Location: Panama City, Florida (Bay County)

Average Square Footage in 32403: 988 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 32403 before you start any project. Panama City homeowners pay on average around $167 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 32403 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Here is how you determine your replacement cost. If we take an average home in 32403 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 988 sq. ft. and the average cost to rebuild the home in this area is around $167 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Panama City area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.

Home Improvement StatusPrice per Sq. Ft.Square FeetDwelling Coverage
Basic Home Features$167988$165,000
Additional Upgrades & Added Features$209988$206,250
Major Home Updates or Advancements$251988$247,500

It's important to understand that when you estimate your replacement cost of your home in the 32403 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.

Best Homeowners Insurance Agencies in 32403

Best Home & Auto Insurance Agencies in 32403

Housing Demographics for 32403

Population Review for 32403 Zip Code

For the city of Panama City, the population within 32403 has increased to over 638 residents in population size. The current population total is 141. We have broken down the population based on race below. In 32403, there are over 86 in male population and 55 females.

PopulationValues
Total Population141
White Population84
Black Population18
Hispanic Population42
Asian Population10
Hawaiian Population2
Indian Population0
Other Population6
Male Population86
Female Population55
Population Estimate638

Household Data for 32403

The average number of homes in 32403 is around 17, there are an average of 3.29 per household. The average house value according to local real estate values is around $165,000. Please review the following demographics below for average income and media age.

Housing / Income DataValues
Households Per Zipcode17
Persons Per Household3.29
Average House Value$165,000
Income Per Household$67500
Median Age20.3
Median Age Male20.5
Median Age Female19.9
32403 DetailsValues
StateFL
State Full NameFlorida
City TypeP
City Alias Abbreviation
Area Code850/448
CityPanama City
City Alias NamePANAMA CITY
CountyBay
County FIPS005
State FIPS12
Time Zone6
Day Light SavingY
MSA6015
PMSA
CSA
CBSA37460
CBSA_DIV
CBSA_TypeMetro
CBSA_NamePanama City-Panama City Beach, FL
MSA_NamePanama City, FL MSA
PMSA_Name
RegionSouth
DivisionSouth Atlantic
MailingNameY
Economic & Growth ReviewValues
Number Of Businesses45
Number Of Employees526
Business First Quarter Payroll9575
Business Annual Payroll38335
Business Employment Flag
Growth Rank0
Growth Housing Units 2003
Growth Housing Units 2004
Growth Increase Number0
Growth Increase Percentage0.0
Metropolitan DetailsValues
CBSA Population168852
CBSA Division Population0
Congressional District02
Congressional LandArea8613.58
Delivery Residential194
Delivery Business8
Delivery Total232
Preferred Last Line KeyY22659
Classification Code
Multi-County
CSA Name
CBSA_DIV_Name
City State KeyY22659
Land Area44.220000
Water Area30.167000
City Alias Code
City Mixed CasePanama City
City Alias Mixed CasePanama City
Box Count14
SFDU2
MFDU0
State ANSI12
County ANSI005
ZIP Intro
Alias Intro
Facility CodeP
City Delivery IndicatorY
Carrier Route Rate SortationD
Finance Number117260
Unique ZIP Name
SSA State County Code10020
Medicare CBSA Code37460
Medicare CBSA NamePanama City, FL
Medicare CBSA TypeMetro
Market Rating Area ID3
County Mixed CaseBay

Florida Homeowners Insurance News & Information

  • What exactly is a FAIR Plan? Posted on Tuesday 2nd January, 2024

    If you live in an area where severe weather is common, or wildfires pop up every summer you may have trouble finding affordable home insurance coverage. If homes in your area are repeatedly damaged or destroyed by a covered peril, insurers may pull out of the entire area, refusing to write policies in your neighborhood. […]

  • Florida Homeowners Advance From Citizens into Private Companies Posted on Tuesday 5th December, 2023

    Homeowners Choice Property and Casualty Insurance Co. has assumed approximately 53,750 policies from Citizens Property Insurance Corp., Florida’s state-backed insurance company, the parent company says in a Tuesday news release. Homeowners Choice is owned by HCI Group Inc., a holding company with operations in homeowners insurance, information technology services, real estate and reinsurance. Homeowners Choice […]

  • 2024 Homeowners Insurance Outlook Receives Negative Rating Posted on Tuesday 21st November, 2023

    The insurance news for 2024 is certainly not great. Experts expect that extreme weather and increasing costs will push up insurance costs and make insurance companies more selective when deciding where they will write policies.  Recently, credit rating agency AM Best downgraded the entire home insurance industry from stable to negative. According to Richard Attanasio, […]

  • Fall 2023: Florida Homeowners Insurance Premium Update Posted on Tuesday 24th October, 2023

    Despite the fact that the Florida legislation finally passed a couple of bills to deal with the ever-increasing cost of homeowners insurance, it seems unlikely that premiums will start to fall anytime soon according to a report put out by Karen Clark & Company (KCC), a risk modelling firm. The recent report, titled “Managing Expectations: […]

  • Citizens Property Insurance Corporation Citizens Property Sends Out Letters Posted on Wednesday 27th September, 2023

    Soon, hundreds of thousands of Citizens Property Insurance Company policyholders will be getting a letter in their mailbox asking them to move their policy to a private insurance company and away from Citizens, the state-backed insurer of last resort. Citizens Property is using the letters as part of its “Depopulation” effort that was approved by […]

  • 5 New Homeowners Insurance Companies Step into the Florida Insurance Market Posted on Wednesday 27th September, 2023

    Florida’s property insurance disaster may be taking baby steps in the right direction as five new insurers step into the Florida market, taking over hundreds of thousands from Citizens Property, Florida’s insurer of last resort. This could lead to more insurance options for residents of the Sunshine State soon. The five companies in the mix […]

  • Why is Florida homeowners insurance so expensive? Posted on Friday 22nd September, 2023

    Homeowner insurance premiums are dramatically heading up this year, particularly in states that are prone to natural disasters. According to a new report from Policygenius, the average homeowner policy went up 21% nationally which is on top of a 12% increase that homeowners endured last year.  As usual, Florida is at the top of the […]