Home Insurance in Selma, Indiana
The median home value in Selma is $106,400, 24% lower than the Delaware County median.
The typical home in Selma was built around 1962. About 45% of homes were built before 1960, about 6 points above Delaware County's 39%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
The housing stock in Selma is 91% single-family homes and 4% apartments in buildings with 5+ units.
About 56% of owner-occupied homes in Selma have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 73% of occupied homes in Selma are owner-occupied. The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Selma - 66% - are primarily heated with natural gas.
What's the biggest home insurance risk near Selma? FEMA's National Risk Index points to tornado (Relatively High) in Delaware County and Delaware County had 338 active NFIP flood policies as of September 2026. See the full Delaware 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 | $106,400 |
|---|---|
| Median year built | 1962 |
| Owner-occupied share | 73% |
| Share of owner-occupied homes with a mortgage | 56% |
| Top county hazard | Tornado (Relatively High) |
| Active NFIP policies in Delaware County | 338 |
| 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)