Home Insurance in Franklin County, Indiana
The median home value in Franklin County is $249,500, 14% higher than the Indiana median.
The typical home in Franklin County was built around 1981. About 25% of homes were built before 1960, about 6 points below Indiana's 31%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Franklin County is 81% single-family homes, 3% apartments in buildings with 5+ units and 12% mobile or manufactured homes.
About 57% of owner-occupied homes in Franklin County have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 82% of occupied homes in Franklin County are owner-occupied. The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Franklin County, 36% of homes are primarily heated with electricity.
FEMA's National Risk Index lists tornado (Relatively Low), strong wind (Relatively Moderate) and inland flooding (Relatively Low) as the leading hazards for Franklin County.
Franklin County had 33 active National Flood Insurance Program policies as of September 2026. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
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 | $249,500 |
|---|---|
| Median year built | 1981 |
| Owner-occupied share | 82% |
| Share of owner-occupied homes with a mortgage | 57% |
| Top hazards (FEMA National Risk Index) | Tornado (Relatively Low), Strong Wind (Relatively Moderate), Inland Flooding (Relatively Low) |
| Active NFIP flood policies (county) | 33 |
| Home insurance premium | $1,259 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- 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)