Home Insurance in Albion, Indiana
With a median home value of $142,700, Albion is 27% lower than the Noble 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 Albion was built around 1949. About 53% of homes were built before 1960, about 16 points above Noble County's 37%.
In Albion, the housing stock is 77% single-family homes, 2% apartments in buildings with 5+ units and 13% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 52% of owner-occupied homes in Albion have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Albion has an owner-occupancy rate of 68% and a vacancy rate of 10%; unoccupied homes typically need a different coverage form.
Most homes in Albion - 77% - are primarily heated with natural gas.
Noble County had 195 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is strong wind (Relatively Moderate). See the full Noble 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 | $142,700 |
|---|---|
| Median year built | 1949 |
| Owner-occupied share | 68% |
| Share of owner-occupied homes with a mortgage | 52% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in Noble County | 195 |
| 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)