Home Insurance in New Palestine, Indiana
With a median home value of $357,500, New Palestine is 30% higher than the Hancock County median.
The typical home in New Palestine was built around 2002. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 19% of homes were built before 1960, about 1 point above Hancock County's 18%.
In New Palestine, the housing stock is 87% single-family homes and 10% apartments in buildings with 5+ units.
In New Palestine, about 79% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 80% of occupied homes in New Palestine are owner-occupied. The vacancy rate is 4%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In New Palestine, 72% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near New Palestine? FEMA's National Risk Index points to tornado (Relatively Moderate) in Hancock County and Hancock County had 194 active NFIP flood policies as of September 2026. See the full Hancock 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 | $357,500 |
|---|---|
| Median year built | 2002 |
| Owner-occupied share | 80% |
| Share of owner-occupied homes with a mortgage | 79% |
| Top county hazard | Tornado (Relatively Moderate) |
| Active NFIP policies in Hancock County | 194 |
| 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)