Homeowners Insurance in Panama City Beach, Florida
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- Homeowners Insurance in Panama City Beach, Florida
Given its location on the Gulf and picturesque white sand beaches, it’s no surprise that Panama City Beach is known for being America’s most visited spring-break destination. But nearly 15,000 people call this beautiful city on the beach home year-round.
For those full-time dwellers in PCB, owning a house is a sound investment, and investing in homeowners insurance in Panama City Beach, Florida, is a sound way to protect that investment. Let’s take a look at what it covers, how much it is and much more.
Average Cost of Home Insurance in Panama City Beach, Florida
The average cost of home insurance in Panama City Beach, Florida, is about $2,685 annually. That’s right on par with Florida’s average cost of homeowners insurance, which is about $2,924 annually.
When you consider that Panama City Beach is located in the most hurricane-prone place in the United States and has been struck directly or indirectly by more than 65 hurricanes since statisticians began keeping records in 1851, that’s really a fair bargain.
Let’s take a look at the average cost you can expect to pay for Panama City Beach home insurance from some of the state’s top insurance companies.
Average Rates for Panama City Beach Home Insurance by Company | |
Company | Average Premium |
Olympus | $2,130 |
Edison | $2,166 |
Citizens | $2,501 |
American Platinum | $2,712 |
Average | $2,685 |
While those numbers reflect the average cost of home insurance in Panama City Beach, they don’t take into account a few important factors of your policy. One of those factors is the year your home was built, due to new building codes implemented in 2001 that strengthened the foundation of homes and decreased the risk of substantial hurricane-related damage.
The other is a wind mitigation, which proves your home was built to withstand catastrophic hurricane winds by implementing a hip roof and impact-resistant windows and doors. Homeowners who own houses built prior to 2001 can save a substantial amount of money on homeowners insurance premiums if they get a wind mitigation inspection.
Like most Florida cities, real estate prices in Panama City Beach have been steadily increasing in recent years. The city has been built up significantly since the early 2000s, so many homes in PCB already meet the standards for a new construction home from 2005 to the present.
Luckily, those homes meet the state’s new building codes so homeowners insurance is much more affordable in PCB than many other beachside cities in the state.

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Panama City Beach Homeowners Insurance Coverages
From hurricanes and tornadoes to torrential rains and other water damage, homeowners insurance in Panama City Beach, Florida covers your house, personal belongings and financial future from a variety of unexpected events. It protects your property against burglaries, which aren’t too common in the city, and dog bites on and off your property in certain cases.
While the amount you pay for homeowners insurance varies due to a multitude of factors like coverage amounts, deductibles and your insurance score, let’s take a look at what coverages are included and some examples of each.
Panama City Beach Homeowners Insurance Coverages | |
Coverage | Definition |
Dwelling Coverage | Dwelling coverage, provides coverage for things like your foundation, floors, roof, and sometimes even your HVAC system. Generally, it protects the elements that make up your main home. |
Other Structures Coverage | Other structures coverage helps protect things on your property like your shed, fence, garage, carport, or other structures that aren’t attached to your main home. |
Personal Property Coverage | Personal property coverage helps secure many of the items you own and store on your property, like your lawnmower, stove, patio furniture, and much more. |
Loss of Use Coverage | Loss of use coverage can help if a covered peril damages your home to the point of being uninhabitable. You may use it to cover things like temporary housing or food. |
Personal Liability Coverage | Personal liability coverage protects your finances if you’re considered liable for someone’s injuries or property damage. It can be used if your dog bites someone, if a tree from your property damages your neighbor’s deck and in many other cases. |
Medical Payments Coverage | Medical payments coverage, may cover a guest’s medical expenses for a minor injury they incur on your property, like a broken arm. |
Insurance Companies in Panama City Beach, Florida
In terms of the most affordable coverage you can find in PCB, Olympus is probably your best bet. You can expect to pay about $2,130 annually — which is about 27% less than what the rest of the state pays for the same policy.
Next in line are Edison, Citizens, and American Platinum, offering policies for less than $2,800 per year. Since Clovered is a trusted insurance agency in the state, we’ve partnered with some of those companies — and many more — so we can provide the great residents of the Sunshine State with affordable policies that provide all the coverage they need and none of it they don’t.
Simply answer a few questions in our quoting platform and we’ll do the rest so you can get a homeowners policy online in just a few minutes.
Flood Insurance in Panama City, Florida
Given its location on the Gulf Coast and the many nearby bodies of water like ponds, Panama City experiences its fair share of flooding due to torrential rains and storm surge caused by hurricanes and tropical storms. Unfortunately, these isolated incidents aren’t covered by homeowners insurance.
Flood coverage stems from its own flood insurance policy, which is sold separately by companies like Clovered and protects your home and belongings against a number of flood-related incidents.
Since many parts of the city are in FEMA-designated moderate-risk flood zones and a few are in high-risk zones in the area, investing in flood insurance in Panama City, Florida should be a no-brainer. In fact, as of July 2024, county commissioners adopted federally mandated changes to the flood maps in Bay County, potentially affecting residents’ need for flood insurance.
When you consider that your home could sustain $25,000 worth of damage if it receives just 1 inch of floodwater, getting a flood policy is all the more worth it. Flood insurance protects the structure of your home, any other structures on the property, your personal belongings and even additional living expenses if a flood damages your home and you’re temporarily forced to move out.

Stay Above Water With Flood Insurance
Do you want to pay for costly and common flood damage yourself or have an insurance policy pick up the tab?
How to Get the Best Panama City Beach Home Insurance
Since we partner with the state’s top insurance companies and have developed an intuitive online quoting tool, getting the Panama City Beach homeowners insurance is as simple and fast as ever. Simply answer a few questions about your house, and we’ll crunch the data and promptly return a quote within seconds.
If you have any questions or would like to talk to an agent, you can reach our friendly licensed in-house agents at 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m. or send us an email anytime at agent@clovered.com.

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.