Home Insurance in Lapel, Indiana
Homes in Lapel carry a median value of $220,400 - 37% higher than the Madison County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Lapel was built around 1975. About 36% of homes were built before 1960, about 6 points below Madison County's 42%.
The housing stock in Lapel is 83% single-family homes, 7% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
In Lapel, about 70% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 70% of occupied homes in Lapel are owner-occupied. The vacancy rate is 3%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Lapel, 58% of homes are primarily heated with natural gas.
FEMA rates Madison County's overall risk as Relatively Low, led by strong wind (Relatively High). Madison County had 219 active NFIP flood policies as of September 2026. See the full Madison 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 | $220,400 |
|---|---|
| Median year built | 1975 |
| Owner-occupied share | 70% |
| Share of owner-occupied homes with a mortgage | 70% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Madison County | 219 |
| 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)