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32407, FL Home Insurance

In the zip code of 32407, the population size is around 14,366, which consists of 6,256 occupied homes in your area. We often hear homeowners ask us what the average home insurance premiums are for residence living in Panama City Beach, FL. A few years ago, a study was done and found that the average home insurance rates for Florida are around $1,632 per year for a standard homeowners policy. At GetHomeInsuranceQuotes.com, we help homeowners find cheaper rates and better coverage for an existing or new home purchase opportunity. We have partnered with 12 major home insurance companies that have the most competitive rates for homes in the 32407 zip code location. Our savings model helps you not only save up to 40% or more, but also includes enhanced coverage options to help protect your home and family while livings in Panama City Beach. If you enter your zip code for the home you would like to shop and compare rates for today, we can help you review the premiums and coverage online or over the phone. Give us a call now at 1-888-685-4704 so we can help you compare rates today!

If you would like to review more information on rates within your area, please click Panama City Beach, FL Homeowners Insurance Online Rates Today!

32407 Home Insurance Average Premiums

Local 32407 homeowners insurance quotes comparison

$1382 /yr.

Shows Zip Code: 32407 lowest rates with discounts applied on average.

For the 32407, 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)
$1382 /yr.
Average Coverage:$1632 /yr.
2600 sq. ft. or higher
(all discounts applied)
$1932 /yr.

What is the average home insurance cost for a home in 32407?

  • • The average homeowners insurance premium paid annually for a home in 32407 is around $1632 per year.

What does it cost on average per month for home insurance in 32407?

  • • Homeowners in 32407 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 32407?

  • • Autoowners in 32407 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 Beach area, check out other zip codes nearby 32407.
Review average rates in another zip code:
32413 homeowners insurance rates
32407 homeowners insurance rates

Home Replacement Cost Coverage in 32407

Average Building Cost Per Square Foot in 32407: $167

Location: Panama City Beach, Florida (Bay County)

Average Square Footage in 32407: 1,674 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 32407 before you start any project. Panama City Beach 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 32407 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 32407 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 1,674 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 Beach 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$1671,674$279,500
Additional Upgrades & Added Features$2091,674$349,375
Major Home Updates or Advancements$2511,674$419,250

It's important to understand that when you estimate your replacement cost of your home in the 32407 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 32407

Best Home & Auto Insurance Agencies in 32407

Anderson Insurance Services

Address: 611 Camelia St Panama City Beach, FL 32407
Phone:
Website:
Info:

Allstate Insurance Companies

Address: 3 Miracle Strip Loop Panama City Beach, FL 32407
Phone:
Website: http://www.allstateagencies.com
Info:

Housing Demographics for 32407

Population Review for 32407 Zip Code

For the city of Panama City Beach, the population within 32407 has increased to over 22,857 residents in population size. The current population total is 14,366. We have broken down the population based on race below. In 32407, there are over 6985 in male population and 7381 females.

PopulationValues
Total Population14,366
White Population11006
Black Population1099
Hispanic Population1254
Asian Population438
Hawaiian Population19
Indian Population57
Other Population429
Male Population6985
Female Population7381
Population Estimate22857

Household Data for 32407

The average number of homes in 32407 is around 6,256, there are an average of 2.26 per household. The average house value according to local real estate values is around $279,500. Please review the following demographics below for average income and media age.

Housing / Income DataValues
Households Per Zipcode6,256
Persons Per Household2.26
Average House Value$279,500
Income Per Household$64102
Median Age40.9
Median Age Male39.1
Median Age Female43.1
32407 DetailsValues
StateFL
State Full NameFlorida
City TypeB
City Alias AbbreviationP C BEACH
Area Code850/448
CityPanama City Beach
City Alias NamePANAMA CITY BEACH
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 Businesses586
Number Of Employees6758
Business First Quarter Payroll52012
Business Annual Payroll233910
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 Residential10114
Delivery Business762
Delivery Total10680
Preferred Last Line KeyY22660
Classification Code
Multi-County
CSA Name
CBSA_DIV_Name
City State KeyY22660
Land Area14.917000
Water Area3.354000
City Alias Code
City Mixed CasePanama City Beach
City Alias Mixed CasePanama City Beach
Box Count0
SFDU1994
MFDU3870
State ANSI12
County ANSI005
ZIP Intro
Alias Intro
Facility CodeB
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

  • 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 […]

  • 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 […]