Home Insurance in Waveland, Indiana
Homes in Waveland carry a median value of $108,600 - 37% lower than the Montgomery County median.
The median home in Waveland was built in 1939 or earlier. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 85% of homes were built before 1960, about 42 points above Montgomery County's 43%.
In Waveland, the housing stock is 94% single-family homes and 1% mobile or manufactured homes.
78% of owner-occupied homes in Waveland carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Waveland has an owner-occupancy rate of 87% and a vacancy rate of 20%; unoccupied homes typically need a different coverage form.
Most homes in Waveland - 68% - are primarily heated with propane. 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 Waveland? 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.
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 | $108,600 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 87% |
| Share of owner-occupied homes with a mortgage | 78% |
| 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)