Home Insurance in Paragon, Indiana
Homes in Paragon carry a median value of $104,100 - 56% lower than the Morgan County median.
The typical home in Paragon was built around 1951. About 57% of homes were built before 1960, about 32 points above Morgan County's 25%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
In Paragon, the housing stock is 72% single-family homes and 28% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Paragon, about 71% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 84% of occupied homes in Paragon are owner-occupied. The vacancy rate is 32%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Paragon - 68% - are primarily heated with electricity. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Morgan County had 269 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is strong wind (Relatively High). See the full Morgan 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 | $104,100 |
|---|---|
| Median year built | 1951 |
| Owner-occupied share | 84% |
| Share of owner-occupied homes with a mortgage | 71% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Morgan County | 269 |
| 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)