Home Insurance in New Market, Indiana
The median home value in New Market is $142,300, 17% lower than the Montgomery County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in New Market was built around 1956. About 59% of homes were built before 1960, about 17 points above Montgomery County's 43%.
The housing stock in New Market is 91% single-family homes and 1% mobile or manufactured homes.
57% of owner-occupied homes in New Market carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
New Market has an owner-occupancy rate of 81% and a vacancy rate of 5%; unoccupied homes typically need a different coverage form.
51% of homes in New Market are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
What's the biggest home insurance risk near New Market? FEMA's National Risk Index points to strong wind (Relatively Moderate) in Montgomery County and Montgomery County had 38 active NFIP flood policies as of September 2026. See the full Montgomery County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Indiana is $1,259 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $142,300 |
|---|---|
| Median year built | 1956 |
| Owner-occupied share | 81% |
| Share of owner-occupied homes with a mortgage | 57% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in Montgomery County | 38 |
| 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)