Home Insurance in Palmyra, Indiana
With a median home value of $163,800, Palmyra is 29% lower than the Harrison County median.
The typical home in Palmyra was built around 1983. About 27% of homes were built before 1960, about 6 points above Harrison County's 21%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Palmyra is 78% single-family homes, 4% apartments in buildings with 5+ units and 4% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In Palmyra, about 68% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Palmyra has an owner-occupancy rate of 66% and a vacancy rate of 4%; unoccupied homes typically need a different coverage form.
Most homes in Palmyra - 70% - are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Harrison County had 75 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is tornado (Relatively Moderate). See the full Harrison 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 | $163,800 |
|---|---|
| Median year built | 1983 |
| Owner-occupied share | 66% |
| Share of owner-occupied homes with a mortgage | 68% |
| Top county hazard | Tornado (Relatively Moderate) |
| Active NFIP policies in Harrison County | 75 |
| 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)