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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
$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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32403 homeowners insurance rates
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 Status | Price per Sq. Ft. | Square Feet | Dwelling Coverage |
|---|---|---|---|
| Basic Home Features | $167 | 988 | $165,000 |
| Additional Upgrades & Added Features | $209 | 988 | $206,250 |
| Major Home Updates or Advancements | $251 | 988 | $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.
| Population | Values |
|---|---|
| Total Population | 141 |
| White Population | 84 |
| Black Population | 18 |
| Hispanic Population | 42 |
| Asian Population | 10 |
| Hawaiian Population | 2 |
| Indian Population | 0 |
| Other Population | 6 |
| Male Population | 86 |
| Female Population | 55 |
| Population Estimate | 638 |
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 Data | Values |
|---|---|
| Households Per Zipcode | 17 |
| Persons Per Household | 3.29 |
| Average House Value | $165,000 |
| Income Per Household | $67500 |
| Median Age | 20.3 |
| Median Age Male | 20.5 |
| Median Age Female | 19.9 |
| 32403 Details | Values |
|---|---|
| State | FL |
| State Full Name | Florida |
| City Type | P |
| City Alias Abbreviation | |
| Area Code | 850/448 |
| City | Panama City |
| City Alias Name | PANAMA CITY |
| County | Bay |
| County FIPS | 005 |
| State FIPS | 12 |
| Time Zone | 6 |
| Day Light Saving | Y |
| MSA | 6015 |
| PMSA | |
| CSA | |
| CBSA | 37460 |
| CBSA_DIV | |
| CBSA_Type | Metro |
| CBSA_Name | Panama City-Panama City Beach, FL |
| MSA_Name | Panama City, FL MSA |
| PMSA_Name | |
| Region | South |
| Division | South Atlantic |
| MailingName | Y |
| Economic & Growth Review | Values |
|---|---|
| Number Of Businesses | 45 |
| Number Of Employees | 526 |
| Business First Quarter Payroll | 9575 |
| Business Annual Payroll | 38335 |
| Business Employment Flag | |
| Growth Rank | 0 |
| Growth Housing Units 2003 | |
| Growth Housing Units 2004 | |
| Growth Increase Number | 0 |
| Growth Increase Percentage | 0.0 |
| Metropolitan Details | Values |
|---|---|
| CBSA Population | 168852 |
| CBSA Division Population | 0 |
| Congressional District | 02 |
| Congressional LandArea | 8613.58 |
| Delivery Residential | 194 |
| Delivery Business | 8 |
| Delivery Total | 232 |
| Preferred Last Line Key | Y22659 |
| Classification Code | |
| Multi-County | |
| CSA Name | |
| CBSA_DIV_Name | |
| City State Key | Y22659 |
| Land Area | 44.220000 |
| Water Area | 30.167000 |
| City Alias Code | |
| City Mixed Case | Panama City |
| City Alias Mixed Case | Panama City |
| Box Count | 14 |
| SFDU | 2 |
| MFDU | 0 |
| State ANSI | 12 |
| County ANSI | 005 |
| ZIP Intro | |
| Alias Intro | |
| Facility Code | P |
| City Delivery Indicator | Y |
| Carrier Route Rate Sortation | D |
| Finance Number | 117260 |
| Unique ZIP Name | |
| SSA State County Code | 10020 |
| Medicare CBSA Code | 37460 |
| Medicare CBSA Name | Panama City, FL |
| Medicare CBSA Type | Metro |
| Market Rating Area ID | 3 |
| County Mixed Case | Bay |
Florida Homeowners Insurance News & Information
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Why Are Homeowners Insurance Premiums Rising in 2024? Posted on Tuesday 9th July, 2024
As insurance rates rise at unprecedented rates, homeowners are cutting back on groceries, travel, dining out, and even medication to afford the cost of their insurance premiums. In even more shocking news, 1 in 10 homeowners are even consider moving to an area with lower premiums, according to a recent survey by Claimguide. According to […]
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Coastal Homeowners Insurance in Florida Posted on Monday 8th July, 2024
Florida has it all, constant sunshine, beaches,plenty of restaurants and entertainment. It also has some of the highest homeowner insurance premiums in the country. According to Value Penguin, the Sunshine State has the 14th most expensive homeowner insurance rates in the country with the average premium coming in at $1,727. While insurance premiums are high all […]
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Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024
A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase. Currently, a Broward commissioner is asking Congress to pass legislation he claims […]
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Florida Lawmakers May Allow Takeout Offers to Citizens’ Policyholders Posted on Wednesday 13th March, 2024
Lawmakers in Florida are moving closer to allowing specific insurer types to make offers to policyholders currently with Citizen’s Property to insure their vacation or second home. SB 1716 this week cleared the Senate’s Fiscal Policy Committee for the takeout offers after the Senate’s Banking and Insurance Committee approved the measure earlier this month. This […]
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Florida has 7 New Home Insurance Companies Entering the Market Posted on Friday 1st March, 2024
Recently, Florida has seen seven new insurance companies enter the market for homeowners coverage. Currently, the average premium for homeowners coverage is $6,000 a year in the Sunshine state compared to a nationwide average of just $1,700 a year, according to the Insurance Information Institute. The Insurance Information Institute is hopeful that the new insurance […]
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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. […]
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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 […]