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Home Insurance in Okaloosa County, FL: Companies & Premiums

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Home Insurance in Okaloosa County, FL: Companies & Premiums
Beach house in Walton Beach situated in Okaloosa County. Source: www.breakersfwb.com

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.

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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 TypeHome ValueAverage 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:

List of Companies & Rates for Home Valued at $150,000, Pre-2001 Construction Without Wind Mitigation Rate in Okaloosa, FL

CompanyAnnual 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

CompanyAnnual 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

CompanyAnnual 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.

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