Home Insurance in Marion, Indiana
The median home value in Marion is $85,300, 30% lower than the Grant County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Marion was built around 1957. About 57% of homes were built before 1960, about 11 points above Grant County's 45%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Marion is 73% single-family homes, 11% apartments in buildings with 5+ units and 4% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 45% of owner-occupied homes in Marion have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 15%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 59% of occupied homes in Marion are owner-occupied.
Most homes in Marion - 67% - are primarily heated with natural gas.
Grant County's top FEMA-rated hazard is tornado (Relatively Moderate), per FEMA's National Risk Index. Grant County had 76 active NFIP flood policies as of September 2026. See the full Grant 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 | $85,300 |
|---|---|
| Median year built | 1957 |
| Owner-occupied share | 59% |
| Share of owner-occupied homes with a mortgage | 45% |
| Top county hazard | Tornado (Relatively Moderate) |
| Active NFIP policies in Grant County | 76 |
| 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)