Flood insurance cost · ZIP 32401 · FL
Flood insurance cost in ZIP 32401 (Panama City, FL)
What homeowners with a National Flood Insurance Program policy actually pay, from FEMA's records of 437 home policies in force on August 31, 2026.
Median annual cost of NFIP flood insurance for a home
$1,033a year
Half of insured homes paid between $624 and $1,311. That is 13% more than the Bay County median ($917). Most insured homes here are rated in zone X (56%).
This is what policyholders paid, not a quote. Two neighbors can pay very different prices: NFIP prices depend on the building (elevation, foundation, number of floors, replacement cost), the coverage and deductible chosen and the distance to water (FEMA FloodSmart: premium factors). For a price for your building, ask an insurance agent. Private flood insurance is not included in these figures.
Cost by flood zone in ZIP code 32401
The flood zone on FEMA's map is one of the main price factors. Median and middle half of what insured homes paid, by the zone used to rate the policy.
| Flood zone | Median | Middle half (25th–75th percentile) | Average | Policies | vs last year |
|---|---|---|---|---|---|
| Zone VE / V High risk, coastal | $1,213 | $755–$1,623 | $1,458 | 13 (3%) | +22.8% |
| Zone AE High risk | $1,496 | $977–$2,165 | $1,691 | 145 (33%) | +15.2% |
| Zone A High risk | $892 | $662–$1,046 | $864 | 33 (8%) | +4.1% |
| Zone X Moderate to low risk | $878 | $528–$1,191 | $883 | 246 (56%) | +2.9% |
Not shown (fewer than 10 home policies): AO, AH, A99/AR, D. Shares are of all insured homes; a few policies have no rated zone. "vs last year" compares medians with policies in force a year earlier.
Cost by type of building
All NFIP policies in force in ZIP code 32401, by what they insure.
| Type of building | Policies | Median | Average |
|---|---|---|---|
| Single-family home | 374 | $1,064 | $1,213 |
| 2–4 unit building | 14 | $910 | $1,155 |
| Condo or apartment unit | 42 | $628 | $836 |
| Whole residential building (5+ units or condo association) One policy covers the whole building, so the cost is much higher than for a single home. | 41 | $7,846 | $8,705 |
| Non-residential building or unit Businesses, churches, farm buildings and other non-residential property. | 105 | $2,724 | $3,991 |
Not shown (fewer than 10 policies): manufactured (mobile) home.
One year on: ZIP code 32401
Policies in force on August 31, 2026 compared with a year earlier. Nationwide, practically all policies in both years carry FEMA's Risk Rating 2.0 occupancy codes, so both years use the same pricing system. The policies are not the same: some were new, some lapsed.
| Aug 31, 2025 | Aug 31, 2026 | Change | |
|---|---|---|---|
| Home policies in force | 466 | 437 | −6.2% |
| Median annual cost | $925 | $1,033 | +11.7% |
| Average annual cost | $1,068 | $1,166 | +9.2% |
| All policies in force (any building) | 618 | 583 | −5.7% |
Flood claims history
Since 1978, NFIP policyholders in ZIP 32401 have filed 556 flood claims. 381 received a payment, for a total of $12.5 million (an average of $32,679 per paid claim). The year with the most claims was 2018 (173 claims). Amounts are in dollars of the time, not adjusted for inflation.
All years with at least 10 claims (9)
Swipe the table sideways to see all columns.
| Year of loss | Claims | Paid claims | Total paid | Average per paid claim |
|---|---|---|---|---|
| 2020 | 23 | 20 | $548,922 | $27,446 |
| 2018 | 173 | 82 | $3,047,053 | $37,159 |
| 2013 | 20 | 13 | $200,493 | $15,423 |
| 2008 | 26 | 23 | $566,737 | $24,641 |
| 2005 | 23 | 20 | $735,175 | $36,759 |
| 2004 | 19 | 12 | $318,331 | $26,528 |
| 1999 | 23 | 19 | $190,465 | $10,024 |
| 1998 | 18 | 12 | $173,506 | $14,459 |
| 1995 | 154 | 134 | $6,159,587 | $45,967 |
From 2016 to 2026: 196 claims (counting only years with at least 10). 2026 is a partial year. Claims are counted where the insured property is; they include buildings and contents, homes and businesses.
NFIP communities in this ZIP code
Panama City (387 home policies) · Unincorporated Bay County (22 home policies) · Springfield (19 home policies). A ZIP code can cross city and county lines; each policy is counted once, in the ZIP code reported for the insured building.