Panama Homeowners Insurance

(Find the right homeowners insurance policy for you.)

Written by Christina Palermo
Written by Christina Palermo

Christina is a freelance writer and licensed insurance agent. She has worked in many facets of the insurance industry, from entry-level assistant to account manager/sales rep to vice president of operations.


Panama City is a fast-growing community in the Miami metropolitan area. Many tourists become permanent Panama City  residents after retirement. Maybe it’s because of the great weather, convenient location, and beautiful beaches. If you’re one of the 37,113 citizens living in Panama City, you’ll want to be sure your home is protected from any unforeseen circumstances. Whatever your home’s age or design, you’ll want to be sure you have reliable homeowners insurance. 

If you’re confused about how to go about getting a home insurance policy, then find an insurance agent near you. An independent agent can get you lots of different home insurance quotes from high-quality carriers. The best part is that an independent insurance agent won’t charge you any fees for their professional help. 

Cost of Homeowners Insurance in Panama City, FL 

Florida residents generally pay a bit more for homeowners insurance than all other states. 

  • National average yearly premium: $1,173
  • Florida average yearly premium: $1,993 

These average premiums can give you a good idea of what you might get charged. Keep in mind, insurance costs are unique to each home, owner, and location. 

  • Average Panama City home value: $260,700
  • Average Florida home value: $214,000
  • Average US home value:  $188,900

Your insurance agent will gather quite a bit of information about your residence. These details are what insurance carriers will use to calculate your property insurance pricing: 

  • Your credit score and claims history
  • The home’s age and market value
  • Your home’s ZIP code and county
  • The materials used to build the home
  • The home’s purpose: primary residence, rental property, or vacation home
  • The policy deductible selected
  • Outbuildings like fences, garages, and swimming pools 
  • Home insurance discounts that can be applied to your premium

Independent insurance agents in Panama City can help you figure out the best homeowners insurance policies from the most reputable carriers. You can be sure to get the high-quality homeowners coverage that fits your budget. 

Number of Property Crimes in Panama City, FL

No matter where you live and what your crime rates are, it’s always in your best interest to buy a comprehensive homeowners insurance policy. 

  • National average burglary rate per 1,000 homes: 4.69
  • Florida average burglary rate per 1,000 homes: 3.38
  • Panama City  average burglary rate per 1,000 homes: 3.53 

Every US town makes a great effort, among their leaders and citizens, to make their community safer. It’s always important to look out for yourself and your family by taking action. There are a few simple things you can do to keep thieves away: 

  • Keep your garage doors closed and locked.
  • Leave lights on when you aren’t home, even if you need to use an automatic timer.
  • Lock all your doors and windows before going to bed or leaving the house. 
  • Install deadbolts on all your outside doors for extra security.
  • Be sure your sliding glass doors have all the best locks and security devices.
  • Invest in a home security system that includes cameras and alarms.
  • Before you go on vacation, make sure your mail won’t be piling up and your grass won't get overgrown.  

Keep in mind, most insurance companies will give you a discount for having security alarms, cameras, and even fire extinguishers ready to go. Talk with your insurance agent about how you might be able to get a discount for home safety measures. 


Save on Home Insurance

Our independent agents shop around to find you the best coverage.

Number of Catastrophes in Panama City, FL

Panama City is the county seat of Florida’s Broward County. The region gets extreme seasonal weather conditions, specifically hurricanes. Overall, the total number of catastrophic disasters in the Panama City area is much higher than the national average (13). 

  • Number of major disaster declarations in Florida: 74
  • Most common reasons for disasters in the state: hurricanes 
  • Total amount of property losses paid in the US (2018): $1,354,075

Here’s a breakdown of Panama City’s worst weather events. 

  • Hurricanes: 14
  • Fires: 3
  • Floods: 3
  • Tornadoes: 3
  • Tropical Storms: 2

Obviously, no matter where you live, it’s still a good idea to get an excellent property insurance plan. You’ll want to be prepared for the big financial losses associated with risks like harsh weather, fires, and crimes. Having a solid insurance policy will help offset the financial setback and give you peace of mind. 

Contact an independent insurance agent today to talk about your home insurance policy needs so you don’t have to worry about it tomorrow. 

Liability Insurance for Panama City, FL 

Liability claims are another potential “disaster” that you want to avoid. That’s why it’s a good idea to get personal liability coverage. A liability benefit will be part of your homeowners policy and will pay expenses like court costs, legal fees, and damage settlements. 

Unfortunate accidents can happen anywhere and at any time. Here are a few examples of common liability matters that homeowners may face:

  • Your children break the neighbor’s car window with a softball.
  • Your dog escapes the yard and bites a delivery person.
  • A friend is visiting your home and accidentally breaks an ankle.
  • You accidentally run over your neighbor’s toe with a riding lawn mower.

Go over your policy’s liability limits to make sure your benefit is a good amount. Talk with an independent insurance agent to find out what they think. The agent may be able to increase your limits, or they might recommend you buy umbrella coverage. Umbrella insurance is simply an affordable way to add extra protection. 

Get Panama City Home Insurance Quotes

Comparison shopping is the best way to approach buying a great policy for the right price. Of course, that can take a lot of time and you may get a bit frustrated during the process. To make your life easier, work with an independent insurance agent in your community. These agents know your area and understand your needs. 

A local agent will be able to answer any questions you have, identify any risks you might face, and gather insurance quotes from a variety of reliable companies. The best part is that you won’t have to pay the insurance agent for their assistance. 

When you think about it, there’s really no good reason not to call an independent insurance agent today. 

Share this page on Twitter Share this page on Facebook Share this page on LinkedIn City City City-Florida City City City-Florida.html