Home Insurance in Advance, Indiana
With a median home value of $164,500, Advance is 56% lower than the Boone County median.
The typical home in Advance was built around 1943. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 67% of homes were built before 1960, about 47 points above Boone County's 20%.
The housing stock in Advance is 93% single-family homes and 6% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 79% of owner-occupied homes in Advance have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Advance has an owner-occupancy rate of 87% and a vacancy rate of 19%; unoccupied homes typically need a different coverage form.
Most homes in Advance - 69% - are primarily heated with propane. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Boone County had 178 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is hail (Relatively Moderate). See the full Boone County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Indiana, the statewide average premium for a standard HO-3 homeowners policy is $1,259 per year (NAIC, 2023 data).
Key figures
| Median home value | $164,500 |
|---|---|
| Median year built | 1943 |
| Owner-occupied share | 87% |
| Share of owner-occupied homes with a mortgage | 79% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Boone County | 178 |
| Home insurance premium | $1,259 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)