Home Insurance in New Albany, Indiana
The median home value in New Albany is $180,500, 28% lower than the Floyd County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in New Albany was built around 1965. About 44% of homes were built before 1960, about 16 points above Floyd County's 28%.
The housing stock in New Albany is 65% single-family homes, 23% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
64% of owner-occupied homes in New Albany carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
New Albany has an owner-occupancy rate of 55% and a vacancy rate of 10%; unoccupied homes typically need a different coverage form.
Most homes in New Albany - 62% - are primarily heated with natural gas.
Floyd County had 176 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is strong wind (Relatively High). See the full Floyd County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Indiana is $1,259 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $180,500 |
|---|---|
| Median year built | 1965 |
| Owner-occupied share | 55% |
| Share of owner-occupied homes with a mortgage | 64% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Floyd County | 176 |
| 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)