Home Insurance in New Castle, Indiana
The median home value in New Castle is $98,000, 37% lower than the Henry County median.
The typical home in New Castle was built around 1956. About 57% of homes were built before 1960, about 8 points above Henry County's 49%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
In New Castle, the housing stock is 75% single-family homes, 12% apartments in buildings with 5+ units and 4% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
57% of owner-occupied homes in New Castle carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 62% of occupied homes in New Castle are owner-occupied. The vacancy rate is 15%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In New Castle, 73% of homes are primarily heated with natural gas.
Henry County's top FEMA-rated hazard is tornado (Relatively Moderate), per FEMA's National Risk Index. Henry County had 60 active NFIP flood policies as of September 2026. See the full Henry County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Indiana carries a statewide average premium of $1,259 per year.
Key figures
| Median home value | $98,000 |
|---|---|
| Median year built | 1956 |
| Owner-occupied share | 62% |
| Share of owner-occupied homes with a mortgage | 57% |
| Top county hazard | Tornado (Relatively Moderate) |
| Active NFIP policies in Henry County | 60 |
| 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)