Home Insurance in Madison County, Indiana
Homes in Madison County carry a median value of $161,300 - 26% lower than the Indiana median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Madison County was built around 1965. About 42% of homes were built before 1960, about 11 points above Indiana's 31%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Madison County is 81% single-family homes, 7% apartments in buildings with 5+ units and 5% mobile or manufactured homes.
About 62% of owner-occupied homes in Madison County have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 10%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 70% of occupied homes in Madison County are owner-occupied.
Most homes in Madison County - 66% - are primarily heated with natural gas.
FEMA's National Risk Index lists strong wind (Relatively High), tornado (Relatively Moderate) and hail (Relatively Moderate) as the leading hazards for Madison County.
As of September 2026, Madison County has 219 active NFIP flood insurance policies. 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 | $161,300 |
|---|---|
| Median year built | 1965 |
| Owner-occupied share | 70% |
| Share of owner-occupied homes with a mortgage | 62% |
| Top hazards (FEMA National Risk Index) | Strong Wind (Relatively High), Tornado (Relatively Moderate), Hail (Relatively Moderate) |
| Active NFIP flood policies (county) | 219 |
| Home insurance premium | $1,259 - statewide average (NAIC, 2023 data) |
Towns and cities
- Alexandria
- Anderson
- Chesterfield
- Country Club Heights
- Edgewood
- Elwood
- Frankton
- Ingalls
- Lapel
- Markleville
- Orestes
- Pendleton
- River Forest
- Summitville
- Woodlawn Heights
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)