Okaloosa County sits in the middle of the Florida Panhandle. Its northern border abuts Alabama, and the county also has beaches along the Gulf Coast. As of 2018, Okaloosa County has 210,738 residents and a median household income of $62,048, according to the US Census Bureau.
The county is home to Northwest Florid State College, which has four of its six campuses located within Okaloosa County, in Walton Beach, Crestview, Niceville, and Hurlburt Field.
Home Insurance Premiums in Okaloosa
Because of Okaloosa’s high risk of damage from hurricanes and flooding, homes that are more susceptible to damage from natural disasters will often ave significantly higher premiums. As you can see from the table below, buying a home with wind mitigation can save you hundreds of dollars each year on your home insurance premium.
Average Homeowners Premiums in Okaloosa County
Construction Type | Home Value | Average Premium |
---|---|---|
Pre-2001 (No Wind Mitigation) | $150,000 | $3,339.00 |
Pre-2001 (With Wind Mitigation) | $150,000 | $1,654.33 |
New Construction | $300,000 | $2,959.85 |
Overall Average | $2,651.06 |
The overall average homeowners insurance premium in Okaloosa County is $2,651, according to the data provided by the Florida government. Even among policies for each construction type, the cost of home insurance in Florida can vary significantly. If you’re planning on purchasing a home in Okaloosa, make sure you do your due diligence and shop around for insurance quotes. Based on data from Florida’s Office of Insurance Regulation, you can potentially save close to fifty percent off the average premium if you get a policy from the following companies below.
For $150,000 homes built before 2001 without wind mitigation, the average premium is $3,339.
Below are companies that offer below-average rates:
- Stillwater – $1,819
- Security First – $2,143
- FedNat – $2,547
- First Protective – $2,757
List of Companies & Rates for Home Valued at $150,000, Pre-2001 Construction Without Wind Mitigation Rate in Okaloosa, FL
Company | Annual Premium |
---|---|
Stillwater | $1,819 |
Security First | $2,143 |
FedNat | $2,547 |
First Protective | $2,757 |
Universal | $2,820 |
Family Security | $2,850 |
Tower Hill Prime | $2,960 |
Tower Hill Select | $2,970 |
American Traditions | $3,015 |
First Community | $3,103 |
Florida Peninsula | $3,192 |
Southern Fidelity | $3,206 |
Universal | $3,241 |
Tower Hill Signature | $3,267 |
People's Trust | $3,312 |
Tower Hill Preferred | $3,332 |
ASI | $3,469 |
State Farm Florida | $3,483 |
Castle Key | $3,596 |
American Integrity | $3,739 |
Florida Family | $3,745 |
Liberty Mutual | $3,751 |
Citizens | $3,992 |
Florida Farm Bureau | $4,211 |
St. Johns | $4,330 |
Auto Club of Florida | $4,523 |
Southern Oak | $4,780 |
Average | $3,339.00 |
For $150,000 homes built before 2001 with wind mitigation, the average premium is $1,654.
Below are companies that offer below-average rates:
- FedNat – $1,048
- Stillwater – $1,081
- Citizens – $1,171
- First Protective – $1,250
List of Companies & Rates for Home Valued at $150,000, Pre-2001 Construction With Wind Mitigation Rate in Okaloosa, FL
Company | Annual Premium |
---|---|
FedNat | $1,048 |
Stillwater | $1,081 |
Citizens | $1,171 |
First Protective | $1,250 |
Florida Farm Bureau | $1,278 |
Universal | $1,281 |
Tower Hill Prime | $1,288 |
Universal | $1,389 |
Security First | $1,434 |
People's Trust | $1,460 |
Tower Hill Select | $1,460 |
Family Security | $1,519 |
Castle Key | $1,556 |
American Traditions | $1,577 |
American Integrity | $1,587 |
St. Johns | $1,614 |
First Community | $1,616 |
Tower Hill Signature | $1,662 |
Tower Hill Preferred | $1,786 |
Florida Peninsula | $2,018 |
ASI | $2,060 |
Auto Club of Florida | $2,070 |
Southern Oak | $2,104 |
Southern Fidelity | $2,190 |
State Farm Florida | $2,223 |
Florida Family | $2,334 |
Liberty Mutual | $2,611 |
Average | $1,654.33 |
For $300,000 Homes with new construction, the average premium is $2,960.
Below are companies that offer below-average rates:
- Stillwater – $1,431
- Southern Oak – $2,178
- FedNat – $2,290
- Tower Hill – $2,343
List of Companies & Rates for Home Valued at $300,000, New Construction in Okaloosa, FL
Company | Annual Premium |
---|---|
Stillwater | $1,431 |
Southern Oak | $2,178 |
FedNat | $2,290 |
Tower Hill Select | $2,343 |
First Protective | $2,447 |
Family Security | $2,497 |
Universal | $2,502 |
Security First | $2,512 |
Florida Farm Bureau | $2,529 |
American Traditions | $2,538 |
Tower Hill Prime | $2,542 |
Universal | $2,609 |
Castle Key | $2,694 |
St. Johns | $2,780 |
People's Trust | $2,823 |
American Integrity | $3,054 |
Citizens | $3,055 |
First Community | $3,072 |
Tower Hill Signature | $3,167 |
Tower Hill Preferred | $3,177 |
ASI | $3,258 |
Florida Peninsula | $3,381 |
Auto Club of Florida | $3,398 |
State Farm Florida | $3,934 |
Florida Family | $4,185 |
Southern Fidelity | $4,376 |
Liberty Mutual | $5,144 |
Average | $2,959.85 |
Population Centers in Okaloosa
In addition to its Gulf coastline, Okaloosa County also has the Choctawhatchee Bay, where one of its largest beach towns, Walton Beach, sits. Other population centers in the county include Eglin Air Force Base and Crestview, which is also the county seat.
These areas are fairly densely populated compared to other regions in Okaloosa due to its numerous tracks of protected state land, which include:
- Blackwater River State Forest (includes Santa Rosa County as well)
- Fred Gannon Rocky Bayou State Recreation Area (along Choctawhatchee Bay)
- Henderson Beach State Park
Home Values in Okaloosa
The median home value in the county is $223,400, which is relatively high for the Florida Panhandle. The county’s relatively strong economy and the competitive housing market in the area are driven by the presence of the US air service, the low cost of living, and its tourist-attracting beaches.
Flood Insurance in Okaloosa
Homeowners in Okaloosa also need to budget for the cost of flood insurance as well, especially for properties along the county’s coastline. Flood damage won’t be covered under your standard home insurance policy, but fortunately, residents in the area have affordable options for these policies available to them.
In Okaloosa, the federal government’s National Flood Insurance Program offers affordable rates for flood insurance through local companies like FedNat and First Protective.
However, if you’re planning on purchasing a home above $250,000, which is the upper limit for coverage on NFIP policies, you’ll need to purchase additional flood insurance from a private company so your home has complete financial protection when the next storm hits.