Located right in the middle of the Flordia Panhandle, Gadsden County is among Florida’s least populated areas. According to the US Census Bureau, as of 2018, Gadsen County has a population of 46,017 people and a median household income of $40,922, which is roughly two-thirds of the national median.
Population Centers in Gadsden
Over half of Gadsden County’s residents live in Quincy, which has a population of over 24,000 people. Other large towns in the county include Havana, which has over 11,000 residents; Chattahoochee, which has over 5,000; and Midway, which has over 3,000. While these are relatively small towns compared to those in other areas of Florida, they represent significant concentrations of the otherwise sparsely populated county.
Home Values in Gadsden
According to the US Census, the median property value for owner-occupied homes in Gadsden County is fairly low at $92,600 compared to other areas in the Flordia Panhandle as well as in the rest of the state. As a result, the average home insurance premiums tend to be on the lower end as well. Despite, the low price of homes, about 29% of homes in Gadsden County are considered mobile homes. That rate is more than three times the rate in Florida as a whole (about 9%).
Home Insurance Premiums in Gadsden County
In Gadsen County, home insurance premiums average between roughly $1,200 to $1,600 for homes that are worth $150,000, but as you can see in the chart below, that difference is the result of how much you can save on insurance if you have wind mitigation.
In states like Florida that have to endure hurricane season each year, home insurance companies factor in the ability of the home to withstand natural disasters to the premiums they quote to homeowners. Adding wind mitigation to an older home, which is generally standard in new construction, can be a great way to save on home insurance each year.
Average Homeowners Premiums in Gadsden County
Construction Type | Home Value | Average Premium |
---|---|---|
Pre-2001 (No Wind Mitigation) | $150,000 | $1,626,48 |
Pre-2001 (With Wind Mitigation) | $150,000 | $1.198.26 |
New Construction | $300,000 | $1,918.04 |
Overall Average | $1,580.93 |
As the table above from Florida’s Office of Insurance Regulation elucidates, Gadsden County has an overall average of $1,580.93. When shopping for home insurance in FL, make sure to compare quotes from different companies because you stand to save hundreds of dollars if you purchase a policy with companies whose average policy premiums are well below those of the county overall.
For $150,000 homes built before 2001 without wind mitigation, the average premium is $1,626.
For more affordable rates, check out these insurers below:
- Citizens – $757
- Universal – $897
- Florida Peninsula – $1,075
- Security First – $1,164
List of Companies & Rates for Home Valued at $150,000, Pre-2001 Construction Without Wind Mitigation Rate in Gadsden County
Company | Annual Premium |
---|---|
Citizens | $757 |
Universal | $897 |
Florida Peninsula | $1,075 |
Security First | $1,164 |
First Protective | $1,174 |
Southern Fidelity | $1,279 |
Florida Farm Bureau | $1,286 |
Tower Hill Prime | $1,302 |
Stillwater | $1,359 |
People's Trust | $1,449 |
Tower Hill Signature | $1,473 |
Family Security | $1,505 |
Florida Family | $1,513 |
American Integrity | $1,629 |
Tower Hill Preferred | $1,676 |
First Community | $1,753 |
Tower Hill Select | $1,792 |
Liberty Mutual | $1,813 |
Castle Key | $1,918 |
Auto Club of Florida | $1,944 |
American Traditions | $1,998 |
St. Johns | $2,018 |
ASI | $2,038 |
FedNat | $2,109 |
Southern Oak | $2,201 |
Universal | $2,219 |
State Farm Florida | $2,574 |
Average | $1,626.48 |
For $150,000 homes built before 2001 with wind mitigation, the average premium is $1,198.
For more affordable rates, check out these insurers below:
- First Protective – $748
- Florida Farm – $766
- Tower Hill Prime – $910
- Southern Fidelity – $1,005
List of Companies & Rates for Home Valued at $150,000, Pre-2001 Construction With Wind Mitigation Rate in Gadsden County
Company | Annual Premium |
---|---|
Universal | $531 |
Citizens | $582 |
First Protective | $748 |
Florida Farm Bureau | $766 |
Florida Peninsula | $872 |
Tower Hill Prime | $910 |
Southern Fidelity | $1,005 |
Stillwater | $1,048 |
Security First | $1,056 |
Florida Family | $1,108 |
People's Trust | $1,111 |
FedNat | $1,143 |
Tower Hill Preferred | $1,146 |
St. Johns | $1,183 |
Tower Hill Signature | $1,186 |
Universal | $1,234 |
American Integrity | $1,243 |
Tower Hill Select | $1,249 |
Family Security | $1,250 |
First Community | $1,339 |
Liberty Mutual | $1,372 |
American Traditions | $1,565 |
Auto Club of Florida | $1,572 |
Castle Key | $1,575 |
Southern Oak | $1,599 |
ASI | $1,749 |
State Farm Florida | $2,211 |
Average | $1,198.26 |
For $300,000 homes with new construction, the average premium is $1,918.
For more affordable rates, check out these insurers below:
- Universal – $973
- Citizens – $1,112
- People’s Trust – $1,569
- Family Security – $1,740
List of Companies & Rates for Home Valued at $300,000, New Construction in Gadsden County
Company | Annual Premium |
---|---|
Universal | $973 |
Citizens | $1,112 |
Florida Farm Bureau | $1,279 |
First Protective | $1,332 |
Stillwater | $1,341 |
Security First | $1,360 |
Florida Peninsula | $1,386 |
People's Trust | $1,569 |
Tower Hill Prime | $1,705 |
Family Security | $1,740 |
American Integrity | $1,765 |
St. Johns | $1,882 |
Florida Family | $1,937 |
Southern Fidelity | $1,955 |
Tower Hill Select | $1,957 |
Tower Hill Preferred | $2,001 |
Universal | $2,073 |
American Traditions | $2,088 |
First Community | $2,111 |
Auto Club of Florida | $2,121 |
Tower Hill Signature | $2,136 |
Southern Oak | $2,164 |
FedNat | $2,231 |
Castle Key | $2,284 |
Liberty Mutual | $2,786 |
ASI | $2,787 |
State Farm Florida | $3,712 |
Average | $1,918.04 |
Flood Insurance in Gadsden
Considering the median home value in the county, the average homeowners insurance premiums are high. In comparison, several other land-locked counties in the Florida Panhandle with similar housing markets have much cheaper home insurance.
While being further from the Gulf Coast mitigates the risk of hurricane damage, Gadsden County sits within the flood plains of the Coosa River, putting the homes in the area at high risk for flood damage. This is something that insurance companies take into account when calculating premium quotes.
If you plan to live in Gadsden County, you’ll need an additional flood insurance policy to complement the coverage in your home insurance policy. Consider getting a policy through First Protective, which is one of the affordable options listed above, who underwrites flood insurance policies at controlled rates via the federal government’s National Flood Insurance Program.